DMP mutual support thread part 13 !!

usedtobeblue

Good morning, I was wondering if anyone had a cleverly worded letter I could send to hitachi finance trying to get them to default. I haven't paid them a penny in 7 month and they're still adding charges and interest. Thanks in advance.

scot23

Hi all, earlier advice here was fab looking for more. Currently setting up Dmp (although das route in Scotland). Have got new bank account, cancelled all payments and direct debits (which means I’m now beginning to miss payments) and have sent out letter detailing my contact with StepChange and plans of das to my creditors. Got a letter this morning from creation (loan) saying they have noticed direct debit has been cancelled and their decision to give me loan was on repayment via direct debit, please call to pay and also admin change £30 going on acc if not paid before next payment date. I’m guessing they haven’t received my letter yet (or it’s not reached the right department yet!). Really don’t want to call them as very anxious on phone hence why I sent letters! Any advice would be greatly appreciated thanks

Debtfreeat50

Hi everyone.
I have just signed up for a DMP with Tully. I owe 20000 and estimate I will be debt free in just under 4 years.
I have opened a new account with Monzo and am buckled in awaiting outcome from my offers. Is there anything else I should be doing?

sourcrates

scot23 wrote: »

Got a letter this morning from creation (loan) saying they have noticed direct debit has been cancelled and their decision to give me loan was on repayment via direct debit, please call to pay and also admin change £30 going on acc if not paid before next payment date. s

Will most likely be a computer generated letter triggered by your non payment, expect further charges and interest, creditors do not have to stop charging you if you enter debt management.
Write and remind them of your letter if you wish.

Debtfreeat50 wrote: »

Hi everyone.
I have just signed up for a DMP with Tully. I owe 20000 and estimate I will be debt free in just under 4 years.
I have opened a new account with Monzo and am buckled in awaiting outcome from my offers. Is there anything else I should be doing?

Tully is a free service , funded by the banks, much like stepchange.
Even if your offers are rejected, they will still be paid, if a creditor is unhappy, they just sell on the debt, or assign it elsewhere.

Justagirljustawoman

Please can I ask for your help? I am about to sign up to a DMP with Step Change, which is a big step for me, but I am so worried about how I will manage for the next however many years.

I have 2 children. 1 in primary and 1 in secondary. I have budgeted for £200 per month for food, household items and the cat.

After paying £38 per month for the DMP I am going to be left with £27 after bills etc per month to put away for emergencies, holidays, birthdays. Which basically means I am not going to be able to buy my children any treats ever. No days out or eating out. If they need new uniform or clothes I am going to have to wait until I have saved up enough at £27 per month until I can afford them.
I very much doubt I will be in a position to buy them anything for birthdays or Christmas etc.

Is everyone else in a similar boat? I see all my work colleagues and see people on Facebook having nights out, buying new clothes, enjoying life and I feel like those days will never come for me.

I think Step Change worked out it will take around 7 years to be debt free with the DMP.

SuperFrank88

Justagirljustawoman wrote: »

Please can I ask for your help? I am about to sign up to a DMP with Step Change, which is a big step for me, but I am so worried about how I will manage for the next however many years.

I have 2 children. 1 in primary and 1 in secondary. I have budgeted for £200 per month for food, household items and the cat.

After paying £38 per month for the DMP I am going to be left with £27 after bills etc per month to put away for emergencies, holidays, birthdays. Which basically means I am not going to be able to buy my children any treats ever. No days out or eating out. If they need new uniform or clothes I am going to have to wait until I have saved up enough at £27 per month until I can afford them.
I very much doubt I will be in a position to buy them anything for birthdays or Christmas etc.

Is everyone else in a similar boat? I see all my work colleagues and see people on Facebook having nights out, buying new clothes, enjoying life and I feel like those days will never come for me.

I think Step Change worked out it will take around 7 years to be debt free with the DMP.

Hi,
I am saving up an emergency fund BEFORE I set up my DMP. The creditors don’t like it that I haven’t paid them but it is VITAL that I get a pot behind me just in case I needed urgent funds. Put yourself first

sourcrates

Justagirljustawoman wrote: »

Please can I ask for your help? I am about to sign up to a DMP with Step Change, which is a big step for me, but I am so worried about how I will manage for the next however many years.

I have 2 children. 1 in primary and 1 in secondary. I have budgeted for £200 per month for food, household items and the cat.

After paying £38 per month for the DMP I am going to be left with £27 after bills etc per month to put away for emergencies, holidays, birthdays. Which basically means I am not going to be able to buy my children any treats ever. No days out or eating out. If they need new uniform or clothes I am going to have to wait until I have saved up enough at £27 per month until I can afford them.
I very much doubt I will be in a position to buy them anything for birthdays or Christmas etc.

Is everyone else in a similar boat? I see all my work colleagues and see people on Facebook having nights out, buying new clothes, enjoying life and I feel like those days will never come for me.

I think Step Change worked out it will take around 7 years to be debt free with the DMP.

Hi,

£38 is not very much, how much debt do you have, are you a homeowner, what’s your income ?

Justagirljustawoman

My income in the bank is £1077 per month. I get child benefit for 1 child as there is a shared care order in place. I also get around £760 per month Universal Credit. I pay out £475 just in childcare. I have a car on finance that I cannot move from because my youngest goes to school a good way from where we live and so I need it for childcare to get myself to my job to earn my full time wage.
It is the childcare and the car that is the biggest expense.

I have 7 debts not including a CCJ that I pay myself as the DMP cannot cover that as it went to bailiffs.

If I were to save up before doing the DMP I would need to not pay creditors for around 6 months to have enough to even use it for emergencies.

purplepaws

needtodothis2020 wrote: »

Just a bit of an update on my situation.
Stepchange are now at he activation stage so we are hoping to have first payment go out on the 10th Feb, was hoping for the first but it may be too late by a day.
I have managed to speak to all creditors and despite being really nervous, they were all really nice and all said that interest ect would be stopped and they will wait until they hear from Stepchange.

My only wish is that I had done this 3 years ago when I was made redundant, but hindsight is a wonderful thing.

I know it was playing on my mind as my uni work marks have been my lowest so far, both at 52, but at least it is a pass and I do not have to resit.

I have a presentation to do tomorrow and now that I feel a huge weight has been lifted off my shoulders I am hoping it will be ok.

The other plus is that I started a new job yesterday at the local college and I had a really good day, the only way to go now is up.

I will keep you posted as to my progress

Sam

I'm really chuffed for you! Well done & good luck x

needtodothis2020

purplepaws wrote: »

I'm really chuffed for you! Well done & good luck x

Thankyou Purplepaws, I could not have done it without the help and guidance from this site and really appreciate all the help I have been given x