DMP mutual support thread part 13 !!

Cooper_lynn

Hi all,
I have been in touch with National Debt Line who are referring me to Step Change with regards to a DMP. This is for my debts but not my husband's but with a joint budget. At first I was referred for an IVA but when I had my appointment with the advisor she rehashed my budget to the point where she then said I wasn't eligible because my debts would be paid before the IVA was up hence now being referred back for a DMP. I have a phone appointment with them tomorrow and have spent the last week going over my budget over and over. I am so stressed and worried that when I give it to them it still won't be accepted. I have cut back where I can but have allowed for TV package, cinema and gym membership. I really don't want to take these off as they are mainly for my husband who is recovering from cancer and I feel guilty enough that I'm in a mess with debt to start with. I guess my question is how strict are they likely to be. Sorry it's long winded I'm just so worried and stressed out at the moment.

Suseka97

Cooper_lynn wrote: »

.........This is for my debts but not my husband's but with a joint budget.

I hope what you mean by 'joint' is that your I & E is somehow being tweaked with an element of his income contribution and his share of the expenses. I ask only because you say its for your debts only. With that said, if your husband's also has debts (which it sounds as if he does), why not add those in?

Cooper_lynn wrote: »

At first I was referred for an IVA but when I had my appointment with the advisor she rehashed my budget to the point where she then said I wasn't eligible because my debts would be paid before the IVA was up hence now being referred back for a DMP.

I believe many suggest a DMP is better than an IVA if you have any assets to protect - such as owning (mortgaging) your own home - but others more experienced here may comment. The good thing here is that a DMP is an informal arrangement and therefore one that you have ultimate control of (that includes what you determine to be your expenses... not what SC say they should be).

Cooper_lynn wrote: »

I have a phone appointment with them tomorrow and have spent the last week going over my budget over and over. I am so stressed and worried that when I give it to them it still won't be accepted. I have cut back where I can but have allowed for TV package, cinema and gym membership. I really don't want to take these off as they are mainly for my husband who is recovering from cancer and I feel guilty enough that I'm in a mess with debt to start with. I guess my question is how strict are they likely to be. Sorry it's long winded I'm just so worried and stressed out at the moment.

So sorry to hear about your husband's illness. As above, a DMP is yours to control and you should stand by those 'extras' and insist they remain if SC want to reduce or remove them. Hopefully they won't. Personally I don't think the SC allowances are realistic in all categories -but they may have changed (my DMP was set many years ago and was mighty strict).

Above all, remember this is only money and there are many of us out there in the same situation. So try not to stress too much (easier said than done, I know). Once everything is up and running - and my advice is not to rush in - you'll be much happier and can focus on yours and your husband's needs.

Take some time to read back on this thread, you'll find a lot of useful information and it'll hopefully ease your mind a little.

Cooper_lynn

My husband doesn't want his debts included as he has a car on finance and credit cards that he wishes to keep and unlike me he manages them well. His income and contributions to expenses have been included on the budget though. I feel better knowing that they cannot force me to alter my budget . Are creditors likely to accept my offer? Thank you so much for your advice.

Cooper_lynn

Further to my post, I had my phone appointment with National Debt Line this morning and they are referring me to Step Change for a DMP. The lady I spoke to was a lot more helpful than the last one I spoke to and went through my budget with me and even raised what I had allowed for leisure lol. Now to just wait for Stepchange. I feel so much better.

Gamer2013

Hi all, finally have admitted my debts are way too much for me to sustain at the mo. 23k of debt with minimum payments of about 600 a month (loan and cards) I've set up a new bank account ready for wages ro be transferred over. I'm very confused as to when to contact my creditors though? Do I have no contact with them for a month or 2 or do I contact them straight away? I plan on waiting 3 month before I get StepChange involved. Been incredibly stressful but have realised I need a DMP. Thanks

sourcrates

Gamer2013 wrote: »

Hi all, finally have admitted my debts are way too much for me to sustain at the mo. 23k of debt with minimum payments of about 600 a month (loan and cards) I've set up a new bank account ready for wages ro be transferred over. I'm very confused as to when to contact my creditors though? Do I have no contact with them for a month or 2 or do I contact them straight away? I plan on waiting 3 month before I get StepChange involved. Been incredibly stressful but have realised I need a DMP. Thanks

You can limit the collection activity you receive by sending them "hold action" letters, explain your situation to them, tell them your taking debt advice, you will get 30 days breathing space automatically, when your ready, start the ball rolling with stepchange.

Weakmoments

Hi I currently am self managing my debts and have been on a plan since 2013. Still a long way to go one of my debts originally an egg loan now with IDEM still won’t default I wrote to the in May 2018 and they said AR was the correct marking I raised this with the ombudsman who agreed with them. What should I do now I still have about 6 years to go on my plan so that will be another 12 on my credit file. Any advice greatly appreciated x

Willing2Learn

Weakmoments wrote: »

Hi I currently am self managing my debts and have been on a plan since 2013. Still a long way to go one of my debts originally an egg loan now with IDEM still won’t default I wrote to the in May 2018 and they said AR was the correct marking I raised this with the ombudsman who agreed with them. What should I do now I still have about 6 years to go on my plan so that will be another 12 on my credit file. Any advice greatly appreciated x

If it were me, I would write to IDEM, asking that they fully comply with ICO guidance that says an account should be defaulted once it is 3-6 months in arrears.

If that did not work, then I would reduce my monthly payments to IDEM to a token amount...Say £1/month...that should encourage them to default you.

Thinking about it. Since the account is quite old, I would also submit a CCA request to check whether IDEM have fully compliant paperwork.

Weakmoments

I tried paying them 1.00 they then marked it 6 I stopped paying anything in July. I CCA requested previously they sent a load of paperwork don’t know if it enforceable or not.

Willing2Learn

Can you list the paperwork they sent you as someone here might be able to confirm whether the paperwork represents a 'true copy' of your Credit Agreement. Failing that, you can upload the documents they sent you to the AllAboutDebt forum for verification

Edit: I forgot to reiterate that you need to write to IDEM in the form of an official complaint. You would be requesting that they fully comply with ICO guidance and record a default on the account backdated to when the account was 3-6 months in arrears. If they do not uphold your complaint then you can escalate to the ICO. Please note that this is only guidance though...