DMP mutual support thread part 13 !!

sourcrates

ACA22 wrote: »

if anyone could just give me a guide as to if I on the right track that would be great as if I am I was going to start cancelling the direct debits over the weekend. Thanks again

Sorry if we missed your post, yes that sounds like you are pretty much organised with an excellent plan of action, not much to add to that really, you seem pretty much tuned in to what you need to do, well done.

Dandytf

slight concern in choosing to move natwide mtg payment from 28th Dec' to 28th Jan.
this is to allow me to take advantage of one overpayment,
though with xmas holidays I wonder which date Natwide will take Dec's payment from overpayment reserve.
If open Mon or Tues next week I plan to call and ask them.

Skint2918

Because I'm not starting to pay payplan till end of january. They said a token payment to creditors maybe a good idea.

I'm going to send letters to all creditors just after Christmas. Explaining this and to carry on keeping my account on hold. But would it be a good idea to put a cheque in with the letter with a £1 token payment to keep. Them offf my back until they recieve payments from payplan. Just scared as missed payments in. December for them all. And don't want them chasing me in January

Also if I do put a cheque in post do I put the name of company down on cheque?
Or leave that bit blank for them to fill in?

Skint2918

Also to add im putting in the letter for only written communication only. Would this be OK?

Dandytf

Dandytf wrote: »

slight concern in choosing to move natwide mtg payment from 28th Dec' to 28th Jan.
this is to allow me to take advantage of one overpayment,
though with xmas holidays I wonder which date Natwide will take Dec's payment from overpayment reserve.
If open Mon or Tues next week I plan to call and ask them.

sorted found time to use Natwide e-chat this morning.
overpayment reserve will be debited one mortgage payment from 28thJan.
Which mean 1st persistent debt payment to Cap1 can be made.

[Deleted User]

Dandytf wrote: »

sorted found time to use Natwide e-chat this morning.
overpayment reserve will be debited one mortgage payment from 28thJan.
Which mean 1st persistent debt payment to Cap1 can be made.

I'm glad you got it sorted. I've always found Nationwide to be totally helpful and accommodating:j Now you can maybe relax a bit and enjoy your festive season:beer:

sourcrates

Skint2918 wrote: »

Because I'm not starting to pay payplan till end of january. They said a token payment to creditors maybe a good idea.

I'm going to send letters to all creditors just after Christmas. Explaining this and to carry on keeping my account on hold. But would it be a good idea to put a cheque in with the letter with a £1 token payment to keep. Them offf my back until they recieve payments from payplan. Just scared as missed payments in. December for them all. And don't want them chasing me in January

Also if I do put a cheque in post do I put the name of company down on cheque?
Or leave that bit blank for them to fill in?

Hi,

Wouldn’t bother.
Token payments cost more than there value to process, creditors don’t like them.
Also what is the point for a few weeks ?

No one will care if you make token payments or not.

Dandytf

Finally_Solvent wrote: »

I'm glad you got it sorted. I've always found Nationwide to be totally helpful and accommodating:j Now you can maybe relax a bit and enjoy your festive season:beer:

If I had typed debited 28th Dec' I could enjoy Festive season.

Enjoy🎄

cat_79

I am looking at starting my own DMP as step change don't seem to leave enough money to actually live on. My question is should i wait till my accounts default before I start making offers of payment ? I need to build up an emergency fund as I have literally nothing behind me. I have bipolar so my spending got away with me and now I am in it up to my eyeballs. Also what is the minimum I can offer to pay, I have numerous creditors so I need to spread my money as far as it will go. Thanks in advance for replys

[Deleted User]

cat_79 wrote: »

I am looking at starting my own DMP as step change don't seem to leave enough money to actually live on. My question is should i wait till my accounts default before I start making offers of payment ? I need to build up an emergency fund as I have literally nothing behind me. I have bipolar so my spending got away with me and now I am in it up to my eyeballs. Also what is the minimum I can offer to pay, I have numerous creditors so I need to spread my money as far as it will go. Thanks in advance for replys

Well done on deciding to start a DMP:T. It was definitely the best decision I ever made and now, 7 years on, I'm totally debt free for the first time in decades:j. I started with Stepchange and know at the outset I didn't have the confidence or information to go it alone. I hadn't found this wonderful supportive thread until I was already a couple of years in to my DMP:o and the idea of having an emergency fund be

hind me from the outset hadn't occurred to me:doh:. I'm glad you are going to organise one for yourself before diving into the DMP as we never know that nasties life will throw at us along the way:eek:


I'm surprised SC are not leaving you enough to live on when deciding your DMP payments. Did you work it out yourself using the online Debt Remedy tool or did you speak to someone on the phone? They only work on the figures you give them and I think I can speak for a lot of people on here when I say that it's best to inflate the figures of your essential outgoings. People 'claim' for all sorts like cigarettes when they don't even smoke;). The less money you have available to repay the debt the better. The DMP may take longer but somewhere down the line you could always 'up' your repayments if things improve for you. SC do an annual review to make sure things are manageable for you.


If you decide to self-manage there are lots of useful tools, templates and wealth of advice on the NEFCAB website and various other places. Good luck:beer: