DMP mutual support thread part 13 !!

Suseka97

Norfolk_Jim wrote: »

Feeling very depressed today......I was surprised hopw aggressively I was questioned - I know I'm tired and at my wits end and borderline harm myself but it wasnt helpful. Questioned the figures I gave which surprised me as I went with the suggested numbers on debt remedy. We've allowed too little in a number of areas for years resulting in self neglect so I went with Stepchanges own figures as what might be reasonable.....

So sorry to hear this N_J - sounds like you've been through the mill this weekend. It's a shame that SC weren't a little more sensitive, given the circumstances. Sadly I have read from time to time that some customer services at SC are a little harsh - which is wrong. It does seem to vary. Certainly when I was with SC I had one or two conversations that were, shall we say, a little tense - but I must admit I just held my ground and was quite firm with them. They are, after all, meant to offer support.

Norfolk_Jim wrote: »

I know Im feeling sorry for myself and things could be worse but those truths did not make me feel any better - and this is before the creditors get upset and start to phone me.

This is entirely natural, and you're entitled to feel this way. As for your creditors - have you written to them yourself? I ask because its a good idea to do that and state that all correspondence from now on needs to be by letter and ask that your phone number is removed from their records. If you do get any calls, and feel up to it, then just say exactly that and end the call, then block the number.

Norfolk_Jim wrote: »

I think maybe I need to up my anti-depressants but I so hate the way they make me feel - flat and emotionless - No lows and no Highs either - no laughs - no interest in anything - not sure that really help in the long run but short term I think I need to go back to the Doc.

You need to take care of your mental health and so if you need to up your meds, then you should. I thought that anti-depressants were meant to increase feelings of wellbeing, so perhaps you are on the wrong one. Tell your doctor of these side effects and have it reviewed.

Norfolk_Jim wrote: »

am not sure why I'm writing this.....

I'm glad you did. This is a big deal for many and it's not easy at the outset, but things will improve, just give it a little more time. We are here to support you (and others) get through the downtimes, so give yourself a break. Try to put this aside for now and get some sleep

Willing2Learn

@ Norfolk_Jim

Just wanted to add that you could ask your GP or other healthcare professional to complete a Debt & Mental Health Evidence Form. This can then be passed to your creditors as they MUST have procedures and processes in place when dealing with a customer who has a mental health illness or support needs.
http://www.moneyadvicetrust.org/creditors/Pages/debt-and-mental-health-evidence-form.aspx

Also, you can write to your creditors, advising them that you only consent to correspondence in writing via Royal Mail. Clearly state that you do not authorise telephone calls as a method to contact you.

Debtfreewannabe124

I’m about to start a DMP. Includes overdraft on my current bank account. I’ve got a new one set up, however having problems with work payroll changing to my new one - I might have missed the cut off date for payroll.

If my DMP is set up before my payday, will my bank account still be active and I have access to my full monthly salary?

Worried now

sourcrates

Norfolk_Jim wrote: »

Feeling very depressed today. Spent from Friday evening to this morning in A&E then hospital with my wife who suffered severe haemoraging. I've not been to sleep.

So I sat on Setee with my wife and just cried.
I know Im feeling sorry for myself and things could be worse but those truths did not make me feel any better - and this is before the creditors get upset and start to phone me..
Not sure why I'm writing this

Jim, sorry to hear about your wife, I hope things improve soon for you both.
As regards stepchange, your debts, and what your creditors may think, first priority is your families health and well-being, repaying the money you owe is not top priority just now.

Don’t be stressed about communication from creditors, letters, calls, texts etc are all par for the course, creditors, debt collectors, all have their own plethora of standard template letters they will always run through, the only letter you need to take notice of is a “letter before action” anything else can be ignored.

Once you want to start proceedings, you could go self managed if you wish, you don’t need any third party help to do a DMP, you can decide your own budget, and prioritise your payments as you wish.

You don’t have to fit into anyone else’s strict criteria, you can make your own, it’s not worth stressing over money, it really isn’t, it’s just money, these companies write off billions every year as unrecoverable, in the blink of an eye, they may shout a lot, but actual recovery action through the courts is rare.

I’m hoping this may make you feel a little better about your situation, and that your health and wellbeing is always far more important than any stupid debts you may have.

Orsonwelles

Hi.

I have been on a DMP with Stepchange for over 2 years now and everything has been going well. However my circumstances have changed in the last month and I am now going to be forced to lower my monthly DMP payment a bit. At the moment I have another 7 years till I finish the plan but I am worried that if I ask SC to lower my monthly payment, then they will say that my DMP is no longer viable and tell me to use an alternative option which I can't do.

I was wondering if anyone on here has any experience of lowering their monthly payment with SC and it then affecting how long their DMP will last for.

Thank you for your time

[Deleted User]

Orsonwelles wrote: »

Hi.

I have been on a DMP with Stepchange for over 2 years now and everything has been going well. However my circumstances have changed in the last month and I am now going to be forced to lower my monthly DMP payment a bit. At the moment I have another 7 years till I finish the plan but I am worried that if I ask SC to lower my monthly payment, then they will say that my DMP is no longer viable and tell me to use an alternative option which I can't do.

I was wondering if anyone on here has any experience of lowering their monthly payment with SC and it then affecting how long their DMP will last for.

Thank you for your time

I'm sorry your circumstances have changed but there is no earthly reason why Stepchange will refuse to let you continue with your DMP. They are used to people encountering unforeseen circumstances and will just help you draw up a new payment plan which you can afford. Just give them a call and have a chat, there's no reason to worry.

You said you'll have to lower your DMP payment ' a bit' so it doesn't sound as if the new repayment plan will extend the life of the DMP much more. Even if it does, there's no time-limit on a DMP, although obviously SC don't want it dragging on for decades. I heard that around 7 years is the maximum that they recommend but I think this is hearsay and definitely not set in stone. There are people on here who have been in a DMP for years with the end still a long way off.

I had to lower my repayments by 20% because my initial plan was unsustainable and I was living a more poverty-stricken existence than before I started. It was my own fault, I didn't take account of lots of essentials in my initial budget and soon found that the smallest unexpected and even essential extra payment for anything tipped me over the edge. With no credit cards to rely on at that stage I was desperate but SC understood perfectly and helped me draw up a more sustainable plan. They certainly weren't judgemental at all.


So please don't worry about it. Life happens and SC are used to accommodating the changes in people's circumstances. After all, you can't pay more money than you have. Give SC a call tomorrow. Good luck:beer:

Mr1

Hi everyone
Before I get into my problem, let me say what an amazing lot you all are, helping each other.

I’ve been on a DMP with SC for about 3 years and can’t recommend them enough. I’m still on a DMP with them and I recently made a girlfriend who is willing to help me pay my debts with some of her savings. Although she can’t afford to give me all the money, she is willing to give me £9000 to pay something towards my debts. I’ve been reading about F&F offers and I’m thinking about trying to make offers to settle as much as possible, rather than pay one single debt.

My current debts are:
Aqua Newday: £1500
PayPal: £2000
Cabot Financial: £1900
HSBC repayment services (cc): £4000
HSBC repayment services (pers loan): £8000
HSBC repayment services (OD): £1900
HSBC repayment services (pers loan): £1901
More or less £100.

I have been paying £180 / month towards my DMP for the last three years, which is split between all my creditors.

Questions 1:
When I send a letter to HSBC repayment services with F&F offer, do I make one offer for all my debts with them, or I need / should make separate F&F offers quoting the account number for each debt? Do I send one letter or 4 separate letters?

Question 2:
How much should I offer to each creditor? Can I make offers to HSBC only and continue paying monthly payments to the others?

Question 3:
Shall I go self managed dmp before making the offers? Shall I pay £1 / month for a few months before making the offers?

Question 4:
What would you do if you were me? I'm trying to come up with the most efficient solution but I don't know which one is effective.

Any advice is highly appreciated.
Thank you very much!

sourcrates

Mr1 wrote: »

Hi everyone
Before I get into my problem, let me say what an amazing lot you all are, helping each other.

I’ve been on a DMP with SC for about 3 years and can’t recommend them enough. I’m still on a DMP with them and I recently made a girlfriend who is willing to help me pay my debts with some of her savings. Although she can’t afford to give me all the money, she is willing to give me £9000 to pay something towards my debts. I’ve been reading about F&F offers and I’m thinking about trying to make offers to settle as much as possible, rather than pay one single debt.

My current debts are:
Aqua Newday: £1500
PayPal: £2000
Cabot Financial: £1900
HSBC repayment services (cc): £4000
HSBC repayment services (pers loan): £8000
HSBC repayment services (OD): £1900
HSBC repayment services (pers loan): £1901
More or less £100.

I have been paying £180 / month towards my DMP for the last three years, which is split between all my creditors.

Questions 1:
When I send a letter to HSBC repayment services with F&F offer, do I make one offer for all my debts with them, or I need / should make separate F&F offers quoting the account number for each debt? Do I send one letter or 4 separate letters?

Question 2:
How much should I offer to each creditor? Can I make offers to HSBC only and continue paying monthly payments to the others?

Question 3:
Shall I go self managed dmp before making the offers? Shall I pay £1 / month for a few months before making the offers?

Question 4:
What would you do if you were me? I'm trying to come up with the most efficient solution but I don't know which one is effective.

Any advice is highly appreciated.
Thank you very much!

Hi,

Your debts, mostly, all appear to be still with the original creditors, so unfortunately obtaining any kind of settlement deal will be next to impossible, as they will still want almost full payment.

The full and final scenario only tends to work on long since defaulted debts that have been sold on a few times and may have dodgy paperwork, I don’t think you will get much in the way of a discount to be honest with you, a tad early in your case.

fullofcold

Ok, so I have already posted. We are currently looking into ways of repaying his DMP. Looks like I might be able to raise about 86% of the value of the DMP. He has been in the DMP for 16 years. Some of the arrangements that Gregory Pennington have made are direct to lender and some aren't.

How likely is it that we will be able to negotiate an 86% payment as full and final settlement? I have been on the NEDCAB website as per upthread advice and do have the letter and the calculator saved ready to rock and roll if things go to plan.

sourcrates

fullofcold wrote: »

Ok, so I have already posted. We are currently looking into ways of repaying his DMP. Looks like I might be able to raise about 86% of the value of the DMP. He has been in the DMP for 16 years. Some of the arrangements that Gregory Pennington have made are direct to lender and some aren't.

How likely is it that we will be able to negotiate an 86% payment as full and final settlement? I have been on the NEDCAB website as per upthread advice and do have the letter and the calculator saved ready to rock and roll if things go to plan.

Ditch GP first, as there terms and conditions require you to pay them the lump sum of cash first upfront to begin negotiations with your creditors, they will of course take a further fee for this.

Get rid of them and do it yourself, be persistent, and theirs nothing you can’t achieve.
Sixteen years of fees must add up to a lot of money that could have reduced his debt, too late now in your case, but just a warning to others never to use a fee charging DMC.