DMP mutual support thread part 13 !!

BooBoo77

monkeybee said:

Hello
Been with stepchange for 6 years with a few breaks because of emergencies. 41k down to 17k but overall they've been great. I've become really frustrated with this. I just want the debt gone now and have been looking into ways to get it down quicker.  

I currently pay £450 per month. I have 11 debts but these are under 5 different companies. 7 of these defaults are due to drop off my credit file in the next couple of months.

I'm tempted to go self managed.  My plan is to do a new budget to send to creditors paying £250 per month stating reduced income.  This would free up £200 to save up for settlement offers. Also I can clear 3 very small debts.

Does this sound like a good strategy?

I appreciate any comments or advice from this awesome forum.

Thanks

Sounds a sensible approach to me and is similar to what I’ve done having followed the excellent advice on this forum. The only other thing I can think worth doing if I was you, is to write and request CCA documentation. If you do that, you can pause payment and save for full and final settlements while they find the paperwork. Hope that helps and good luck. My debts are just dropping off my credit reports and although they still exist, it’s a nice feeling not having them appear there anymore. 

cass2015

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Suseka97

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

cass2015

Suseka97 said:

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

Thank you so much for you reply Suseka97.. 
No, Its a free DMP, thank goodness! My review is due this month, so I guess I need to act quickly on this. 
My debts are as follows:
Capital one £174.52
Intrum ( Aqua card ) £387
Moorcroft ( lloyds loan or credit card) £3378
Moorcroft ( lloyds overdraft, I think) £1215
PRA Group ( barclaycard) £1400
Paragon personal finance ( no idea! HFC?) £195
Vanquis Bank ( credit card) £755
Wescot £6470 Lloyds credit card 
Eeeeek.. my heart is pounding! 
These were all transferred to my DMP in 2010, but the debts were a few years old by then I think. 
Please could you let me know what I should do first? DO I stay on the DMP then CCA and arrange to pay individually? Or complete my review and then CCA? Do you think any of these will be enforcable? 

Thank you so much for helping! 

BooBoo77

cass2015 said:

Suseka97 said:

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

Thank you so much for you reply Suseka97.. 
No, Its a free DMP, thank goodness! My review is due this month, so I guess I need to act quickly on this. 
My debts are as follows:
Capital one £174.52
Intrum ( Aqua card ) £387
Moorcroft ( lloyds loan or credit card) £3378
Moorcroft ( lloyds overdraft, I think) £1215
PRA Group ( barclaycard) £1400
Paragon personal finance ( no idea! HFC?) £195
Vanquis Bank ( credit card) £755
Wescot £6470 Lloyds credit card 
Eeeeek.. my heart is pounding! 
These were all transferred to my DMP in 2010, but the debts were a few years old by then I think. 
Please could you let me know what I should do first? DO I stay on the DMP then CCA and arrange to pay individually? Or complete my review and then CCA? Do you think any of these will be enforcable? 

Thank you so much for helping! 

I did my review with Step Change first as it felt like that gave it more of a badge of approval rather than its being my first solo act in self management.  So my order was: 
annual budget review with step change
paid one month of new rates 
wrote to creditors asking for CCA
wrote to creditors saying going self managed but will pause payment waiting for CCA docs
wrote to Step Change saying thanks so much and now going self managed
now saving payments I would have made to DMP as premium bonds pending getting CCA

hope that helps. 

cass2015

BooBoo77 said:

cass2015 said:

Suseka97 said:

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

Thank you so much for you reply Suseka97.. 
No, Its a free DMP, thank goodness! My review is due this month, so I guess I need to act quickly on this. 
My debts are as follows:
Capital one £174.52
Intrum ( Aqua card ) £387
Moorcroft ( lloyds loan or credit card) £3378
Moorcroft ( lloyds overdraft, I think) £1215
PRA Group ( barclaycard) £1400
Paragon personal finance ( no idea! HFC?) £195
Vanquis Bank ( credit card) £755
Wescot £6470 Lloyds credit card 
Eeeeek.. my heart is pounding! 
These were all transferred to my DMP in 2010, but the debts were a few years old by then I think. 
Please could you let me know what I should do first? DO I stay on the DMP then CCA and arrange to pay individually? Or complete my review and then CCA? Do you think any of these will be enforcable? 

Thank you so much for helping! 

I did my review with Step Change first as it felt like that gave it more of a badge of approval rather than its being my first solo act in self management.  So my order was: 
annual budget review with step change
paid one month of new rates 
wrote to creditors asking for CCA
wrote to creditors saying going self managed but will pause payment waiting for CCA docs
wrote to Step Change saying thanks so much and now going self managed
now saving payments I would have made to DMP as premium bonds pending getting CCA

hope that helps. 

Thank you BooBoo, 

Yes this does help, the only issue I have is the Animal costs. I have been covering them with pay rises and not telling the DMP this.. I get really nervous in my annual review.. I don't like lying So far I have never been asked for proof..but you never know. 
I feel sick about all this if I am honest... 
Writing about it here has helped immensely as I know I am not the only one to have to deal with this   

Suseka97

cass2015 said:

BooBoo77 said:

cass2015 said:

Suseka97 said:

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

Thank you so much for you reply Suseka97.. 
No, Its a free DMP, thank goodness! My review is due this month, so I guess I need to act quickly on this. 
My debts are as follows:
Capital one £174.52
Intrum ( Aqua card ) £387
Moorcroft ( lloyds loan or credit card) £3378
Moorcroft ( lloyds overdraft, I think) £1215
PRA Group ( barclaycard) £1400
Paragon personal finance ( no idea! HFC?) £195
Vanquis Bank ( credit card) £755
Wescot £6470 Lloyds credit card 
Eeeeek.. my heart is pounding! 
These were all transferred to my DMP in 2010, but the debts were a few years old by then I think. 
Please could you let me know what I should do first? DO I stay on the DMP then CCA and arrange to pay individually? Or complete my review and then CCA? Do you think any of these will be enforcable? 

Thank you so much for helping! 

I did my review with Step Change first as it felt like that gave it more of a badge of approval rather than its being my first solo act in self management.  So my order was: 
annual budget review with step change
paid one month of new rates 
wrote to creditors asking for CCA
wrote to creditors saying going self managed but will pause payment waiting for CCA docs
wrote to Step Change saying thanks so much and now going self managed
now saving payments I would have made to DMP as premium bonds pending getting CCA

hope that helps. 

Thank you BooBoo, 

Yes this does help, the only issue I have is the Animal costs. I have been covering them with pay rises and not telling the DMP this.. I get really nervous in my annual review.. I don't like lying So far I have never been asked for proof..but you never know. 
I feel sick about all this if I am honest... 
Writing about it here has helped immensely as I know I am not the only one to have to deal with this   

BooBoo77's strategy is one way and it makes sense seeing as you are so due your annual review - but I would add that your I&E really does need to reflect your true outgoings and this should cover the animal expenses you've mentioned.  I recall when I set up my DMP with SC, I had around 6 rescued cats and at the time I didn't feel the allowance for their costs reflected the reality, but SC held firm on that.  I was very new to debt management then and hadn't found this forum - if I had I would have held my ground.   Anyway, I digress... You can send off CCA requests for all your debts, but I would be targeting those that have been sold on, because its less likely (depending on their age) that the DCA will hold the required paperwork.

To do this you will need to go self-managed, although I've read lately that SC are more amenable to holding off payments on accounts when asked these days.  But to make it straightforward, I'd be taking back control and working through this myself.  I would imagine that any remaining with the original creditor would be enforceable, so whilst waiting on the CCA requests to be responded to from the others, I would divert money to try and clear some of those smaller debts away.

One thing to remember is that you are not alone and depending on what happens next, there are loads of people on here who can help walk you through some options.  Above all, try not to get too stressed about things - just sit down and make a plan and then follow it through, one step at a time  

cass2015

Suseka97 said:

cass2015 said:

BooBoo77 said:

cass2015 said:

Suseka97 said:

cass2015 said:

Hello! First post ( long time lurker).. I have been on a DMP for 11 years now.. I think it's time to go self managed and take control 😊 I'm a bit worried as I have 3 aging dogs and a horse.. my dogs insurance is £130 a month, the horse costs £120 +£40 insurance.. I'm really unsure about what to do, I need to keep the dogs insured and my horse is my life. I owe around £15k all defaulted years ago and are no longer on my credit file. Feeling a bit anxious right now. Has anyone else been in this situation or can offer any advice? I feel like a total idiot getting into this situation... 

Well firstly... no need to be so harsh on yourself... and then secondly I really hope you've not been paying a debt management company all those 11 years  

Yes, it's definitely time to take control but it would help to understand a little more about those final debts.  Given the potential age and the likelihood they've been sold onto DCA's, now would be the time to submit CCA requests and to simply stop paying whilst waiting to hear if those remaining debts are enforceable or not.  Once you know that, then your options open   

Given all that I'm a bit surprised that you've been on a DMP for 11 years with still £15k to go... ouchie!!

Thank you so much for you reply Suseka97.. 
No, Its a free DMP, thank goodness! My review is due this month, so I guess I need to act quickly on this. 
My debts are as follows:
Capital one £174.52
Intrum ( Aqua card ) £387
Moorcroft ( lloyds loan or credit card) £3378
Moorcroft ( lloyds overdraft, I think) £1215
PRA Group ( barclaycard) £1400
Paragon personal finance ( no idea! HFC?) £195
Vanquis Bank ( credit card) £755
Wescot £6470 Lloyds credit card 
Eeeeek.. my heart is pounding! 
These were all transferred to my DMP in 2010, but the debts were a few years old by then I think. 
Please could you let me know what I should do first? DO I stay on the DMP then CCA and arrange to pay individually? Or complete my review and then CCA? Do you think any of these will be enforcable? 

Thank you so much for helping! 

I did my review with Step Change first as it felt like that gave it more of a badge of approval rather than its being my first solo act in self management.  So my order was: 
annual budget review with step change
paid one month of new rates 
wrote to creditors asking for CCA
wrote to creditors saying going self managed but will pause payment waiting for CCA docs
wrote to Step Change saying thanks so much and now going self managed
now saving payments I would have made to DMP as premium bonds pending getting CCA

hope that helps. 

Thank you BooBoo, 

Yes this does help, the only issue I have is the Animal costs. I have been covering them with pay rises and not telling the DMP this.. I get really nervous in my annual review.. I don't like lying So far I have never been asked for proof..but you never know. 
I feel sick about all this if I am honest... 
Writing about it here has helped immensely as I know I am not the only one to have to deal with this   

BooBoo77's strategy is one way and it makes sense seeing as you are so due your annual review - but I would add that your I&E really does need to reflect your true outgoings and this should cover the animal expenses you've mentioned.  I recall when I set up my DMP with SC, I had around 6 rescued cats and at the time I didn't feel the allowance for their costs reflected the reality, but SC held firm on that.  I was very new to debt management then and hadn't found this forum - if I had I would have held my ground.   Anyway, I digress... You can send off CCA requests for all your debts, but I would be targeting those that have been sold on, because its less likely (depending on their age) that the DCA will hold the required paperwork.

To do this you will need to go self-managed, although I've read lately that SC are more amenable to holding off payments on accounts when asked these days.  But to make it straightforward, I'd be taking back control and working through this myself.  I would imagine that any remaining with the original creditor would be enforceable, so whilst waiting on the CCA requests to be responded to from the others, I would divert money to try and clear some of those smaller debts away.

One thing to remember is that you are not alone and depending on what happens next, there are loads of people on here who can help walk you through some options.  Above all, try not to get too stressed about things - just sit down and make a plan and then follow it through, one step at a time  

Thank you Suseka97.. I am so glad I have reached out... felling less stressed already! 
So..  would it be best to go Self managed now ( this would omit the lying that I feel so dreadful about to PP) 
I do have a couple of additional questions ( sorry) and a proposed plan!
1)I thank PP for all they have done.. send off the CCA requests ( how do I know if they have been sold on apart from the obvious Capital One debt?) and go it alone.  
2)Squirrel away the monthly payment I have been paying and use for the for the smaller debts while I wait for the CCA requests to come back.
3) what happens when I send my "real" I&E that shows the real animal costs to the DCA's? Will they know I have been economical with the truth and nail me with a CCJ or something? I know that the dog insurance is excessive and also the horse Can they refuse to accept this and take me to court? Or is it just a case of these are my costs.. deal with it? 
Apologies for being so anxious and needy here, but I am really worried about the future! I live frugally and do my best to save money where I can, but I do need to live  

Thank you  

sourcrates

Cass2015,

A DMP is an informal arrangement, it is not regulated, so you are not doing anything wrong, except to yourself, when you don`t budget correctly, i doubt very much any DCA will be bothered what your budget says, nor is it any of their buisness.

Your budget is your budget, that is it, they like it, or they lump it, debt collectors especially in these uncertain times, are just glad to get any return at all, most are not fussy what they get, as long as its something.

Forget tales of legal action, thats reserved for those who don`t pay at all, or don`t interact over a long period.

There is no like it, or not like it, if they really don`t like your offer, they just wash there hands of the account and sell it on, I really wouldn`t worry on that score.

cass2015

Thank you so much Sourcrates! I feel so much better now  
I truly live within my means and budget well.. I guess I have got all in a tizz about my animal costs. These costs are unavoidable. I managed to hide the horse in travel fees ( I work 40 miles away..) and clothes ( that I by from charity shops) 
I am just filling in the nedcab form for a DMP, so looking at this, they will be getting more money than they were with PP.. so they can hardly turn that down! Its only £20 a month more, but better than nothing.. I was also paying PP their life insurance payment and cover my payments, so that's more money in the pot for my creditors.

In completing the Nedcab form though..  I can see that I am paying for 2 adults, but my son is 21 and studying in the evenings and only works part time on minimum wage , he cant afford to give me more than £50 a month as he wants to start his own business and is saving too ( I am making sure he does not make the same mistakes I have made!) Can they argue about this? Or is it simply.. this is what I have.. deal with it

I honestly cannot thank all who have commented enough for the help you have given me today.. You have made a huge difference to my sanity and I may actually sleep tonight!!