DMP mutual support thread part 13 !!

KimbullDF

natlie said:

Hi @KimbullDF I was in the exact same situation as you, I just went for it with the DMP and didn't wait for default, partially because my debt is hidden and I didn't want anyone finding out via the mail. I am two months in, three of my creditors defaulted me straight away. I already had an EF but SC allows you an amount to save.
I didn't speak to my creditors, SC handled all of that. I did speak to some of them after due to a few teething problems. Ive had one letter from each of them just saying that they accept my payments. 
I have to mention that with you Pay@al Credit debt they will close your normal Payp@l account too, this was a surprise to me and its been really difficult coping without Payp@l.
I have a diary Ive kept about my debts you can find it through my profile. 
Nat

Thanks for your reply Nat! Finding this forum has given me so much more confidence in what I'm doing, that horrid lonely feeling is slowly passing. I'm really happy it's gone so well for you. 
I did read regarding PayPal, it's definitely going to be a pain. To be honest I feel like they were in the wrong offering the credit to begin with, I was already in a dire financial situation before that nevermind when they through a £7k limit at me, just saw £££ and behaved like an idiot. I know it's my own fault in the end though. It will be a pain not having access to them but I'm not overly concerned, i don't plan on buying a great deal anytime soon! 
I have sent you a private message as I don't want to spam the forums with my own issues when they're others here seeking advice. 

PETRA798

Hi there all
I think I have just royally messed up. I was doing a budget review online with Stepchange (had a DMP for 2 years or so). It rejected my figures as there were some items on there I couldn't delete, so had to ring them. Long story short I ended up saying that we pay £30 a month in overdraft fees. She then said your husband will have to close his account and the O/D be added to your debts. This isn't possible as my husband already changed his bank account and the way his work functions is that he pays for parts and they pay him back and as he hasn't always got the money he has an O/D as a buffer. I told them all this and they refused to help - either he closes the account and sets up a new one without an overdraft and the O/D gets added to the creditors list, or they close my DMP!! I even said can we forget I said that and it was a big fat NO. Now I'm thinking of going self managed but we have one debt with a solicitor who acted on behalf of Santander for a car lease debt and they're quite aggressive. All the other debts have defaulted and are with either PRA/Cabot/Westcot - and one with Barclays who seem to have taken it back from Westcot. I don't know where to start and I'm a bit scared of going self managed. Any advice would be welcomed - I don't know how to get to the sticky links mentioned.
Thank you

sourcrates

PETRA798 said:

Hi there all
I think I have just royally messed up. I was doing a budget review online with Stepchange (had a DMP for 2 years or so). It rejected my figures as there were some items on there I couldn't delete.

Now I'm thinking of going self managed but we have one debt with a solicitor who acted on behalf of Santander for a car lease debt and they're quite aggressive. All the other debts have defaulted and are with either PRA/Cabot/Westcot - and one with Barclays who seem to have taken it back from Westcot. I don't know where to start and I'm a bit scared of going self managed. Any advice would be welcomed - I don't know how to get to the sticky links mentioned.
Thank you

Hi,

Question`s for you, can you use a computer ? are you familiar with online banking ? are you able to write a letter ?

If you can answer yes to all three, then you can self mange a DMP.

All unsecured debts are treated exactly the same, no matter who the money is owed too, or who shouts the loudest, show them you have a voice also.

Its a very simple matter of obtaining your creditors payment details and balances, an up to date statement of account will suffice.

You then imput the payment details into your on line banking, so paying each account on a monthy basis is reduced to a few clicks of the mouse.

You write to each creditor telling them what they will be paid and when, enclose a copy of your budget to back up your proposal, and that...........is it, you just pay them on a monthly basis or whatever is good for you.

Now whats hard about that ?

That is all stepchange, or any other company who "manage DMP`s" do, its not rocket science, they simply pass on your payment, in self mangement, you do it yourself.

sourcrates

scotty1971 said:

Would I need to tell step change debt charity if I was going to make extra payments to a creditor?

SC operate under a strange concept of treating all your creditors equally.

If you want to settle a particular debt, and have it removed from your plan, you can quietly do that, and then tell them to remove the creditor after the fact, but paying extra to a particular creditor, and not the sharing the love would be frowned upon.

PETRA798

Thanks so much Sourcrates - I am speaking to Stepchange again - my husband was really concerned he'd have to close his bank account and prove income/expenditure to all of our creditors - he's had such aggressive solicitors pursuing him in the past its a case of once bitten twice shy!

BooBoo77

sourcrates said:

scotty1971 said:

Would I need to tell step change debt charity if I was going to make extra payments to a creditor?

SC operate under a strange concept of treating all your creditors equally.

If you want to settle a particular debt, and have it removed from your plan, you can quietly do that, and then tell them to remove the creditor after the fact, but paying extra to a particular creditor, and not the sharing the love would be frowned upon.

This is such useful advice Sourcrates thank you.  I started my DMP back in 2014 with Step Change and all my defaults will be up by the end of this September except one which defaulted in 2019 and had less than £200 to it.  I've just paid it off in full so I will have everything cleared on my file by end September.  I'll still have about £14k to pay off by then but I think I may add a bit more padding to my budget so have lower payments and try and save something up for full and final settlements.  I'll also send off CCA requests to see if there are any unenforceable debts amongst them and maybe go self managed.  Feels like I have a plan at last!  Thanks so much for all the advice shared on this thread, it is invaluable.  

sourcrates

PETRA798 said:

Thanks so much Sourcrates - I am speaking to Stepchange again - my husband was really concerned he'd have to close his bank account and prove income/expenditure to all of our creditors - he's had such aggressive solicitors pursuing him in the past its a case of once bitten twice shy!

I love dealing with solicitors, you would think they would be sh*t hot on due dilligence, truth is most are rubbish at it, normally its the newest, lowest grade paralegal that mans the phones, and they know nothing, except what their screen tells them.

You really should not be put off by what you call "aggressive solicitors" a solicitor has no more power or rights than any other creditor, or indeed you or I.

Makes no difference if they call ten times a day or 100, you just block their number anyway, if you do feel they are paying you more attention than they should, make a complaint, don`t be shy, tell them exactly how you feel about ther 8am dawn chorus, take it all the way to the FOS and hit them where it hurts, in the pocket.

Don`t ever be afraid of these people, they are mostly a bunch of teenagers sat in a call centre chewing gum and posting selfies on facebook, never let anyone dictate what you should or should not do where debt is concerned, procedures are set by the FCA and the guidelines are there for all to follow, if they don`t follow them, make a rucus, show them you won`t be walked over.

ditty1234

Just had a moment of daydreaming while waiting for Ryan Air to answer phone - dreaming - and I was dreaming that if both of my bank balances are paid in full ( I have a feeling they won't do f and f) or I want them 'fulfilled' on my credit file sooner, and if all of my credit cards are bailed out at 20% ( I did say dreaming) then I could be done in 4 years, and not 16 as predicted by StepChange and still paying the same amount every month. But then I'm still waiting to find out if credit card balances are enforceable. Anyways to everybody just starting out, slow and steady does it.

KimbullDF

ditty1234 said:

Just had a moment of daydreaming while waiting for Ryan Air to answer phone - dreaming - and I was dreaming that if both of my bank balances are paid in full ( I have a feeling they won't do f and f) or I want them 'fulfilled' on my credit file sooner, and if all of my credit cards are bailed out at 20% ( I did say dreaming) then I could be done in 4 years, and not 16 as predicted by StepChange and still paying the same amount every month. But then I'm still waiting to find out if credit card balances are enforceable. Anyways to everybody just starting out, slow and steady does it.

Hey, it's ok the dream, makes you realise what's important! Its a crap situation we're all in but having this forum even only for the last week has seriously benefited my mental state. What are you paying a month to warrant the 16 year end date ? Sorry if that's too personal!!

TheCommonDan

So the general consensus is that it is better to defaulted accounts at an earlier date rather than a rolling arrangement to pay/dmp on your credit file? I am going to ring HSBC up to try and get my defaults backdated and partially settle my smaller arrangement to pays.