DMP mutual support thread part 13 !!

Debtfreeat50

I have been paying my DMP via Tully for 12 months and in my annual review have stated that my circumstances have not changed. Aqua have stated that they will continue to accept my payment but are now going to charge me 12% interest. There has been no sign of a default in all this time. Is there any way around this as feel this in very unfair?

Weimsrock

Debtfreeat50 said:

I have been paying my DMP via Tully for 12 months and in my annual review have stated that my circumstances have not changed. Aqua have stated that they will continue to accept my payment but are now going to charge me 12% interest. There has been no sign of a default in all this time. Is there any way around this as feel this in very unfair?

Easiest way will be to go self managed and cease payments to Aqua until they default you. Probably only take a couple of months 

tonyace64

Hi all 
Lock myself out of my money saving expert account so sorted a new one out anyway, question is I am 2years 8months in to my dmp with sc gone from 29000 to 12500 I have now been made redundant and living off the redundancy payment, do I carry on paying the full amount in the hope I get a new job in this pandemic or should I ask for sc for token payments, I don't think I can face the prospect off bailiffs and court frets, any advice would be appreciated plus I get jsa of 74 aweek

jack290292

I have a DMP with Stepchange and have made monthly payments for 7 months. This week 3 of my 4 debts with Creation Finance were passed to a collection agency. Each account's balance is 3 months payments more than they should be, so although I've been paying for 7 months the balances are now showing as  3 months payments less!! There has been no interest added as Creation stopped interest when my DMP started. I called SC and they said I had to take it up with Creation, but I can't as they have now passed it on. I contatced the DCA and they agree it adds up to 3 months payments difference on each debt and they will have to wait and see if Creation pass on the payments?! I'm pretty angry about this as I've made the payments so why do they not show

Suseka97

jack290292 said:

I have a DMP with Stepchange and have made monthly payments for 7 months. This week 3 of my 4 debts with Creation Finance were passed to a collection agency. Each account's balance is 3 months payments more than they should be, so although I've been paying for 7 months the balances are now showing as  3 months payments less!! There has been no interest added as Creation stopped interest when my DMP started. I called SC and they said I had to take it up with Creation, but I can't as they have now passed it on. I contatced the DCA and they agree it adds up to 3 months payments difference on each debt and they will have to wait and see if Creation pass on the payments?! I'm pretty angry about this as I've made the payments so why do they not show

You can still take the matter up directly with Creation - doesn't matter if they've sold the debt on.  Write to them outlining the issue and ask for a statement of account showing all payments received from Stepchange, then you can tie that up with what SC state was sent and send that to the DCA.  It could well be that Creation's accounts system is at fault, but the statements should clarify the position one way or the other.

tonyace64

Hi
I have a dmp with step change and I have just been made redundant, I am living off the redundancy payment and jsa and I was just asking advice about should I carry on paying the monthly amount or should I ask for token payments as I feel quite fragile at the moment and don't want the worry off courts and bailiffs any advice would be appreciated 
Thank you

sourcrates

tonyace64 said:

Hi
I have a dmp with step change and I have just been made redundant, I am living off the redundancy payment and jsa and I was just asking advice about should I carry on paying the monthly amount or should I ask for token payments as I feel quite fragile at the moment and don't want the worry off courts and bailiffs any advice would be appreciated 
Thank you

If your not earning, you shouldn`t be paying, simply write to your creditors, and stepchange,  and explain the situation, its pretty straightforward.

They will take your circumstances into account, most likely put your accounts on hold for 6 months or so.

Are you a homeowner, or do you rent ?
How much debt do you have ?
Would a DRO be possible now ?

Forget courts and bailiffs, last resort, not a first response.

Al3x2204

Hi all, looking for some guidance. I finally bit the bullet to enter into a DMP after paying nearly £1000 a month in debt repayments which was not bringing the total overall values down. I could not see a way out so decided this was the best course of action. 
 I have just signed up and completed DMP proposal with stepchange. First payment of £478 goes out on the 1st of Feb 21. I have everything set up and wages into a new bank account. However I have today recieved intended default notices from halifax on loan and overdraft I had with them. What advice would you give on how to proceed? should I wait and let it go into default. Is their anything I should worry about such as being taken to court and given a CCJ? I expect all 5 of my credit agreements to go into default but I am making each monthly payment through stepchange. 

tonyace64

sourcrates said:

tonyace64 said:

Hi
I have a dmp with step change and I have just been made redundant, I am living off the redundancy payment and jsa and I was just asking advice about should I carry on paying the monthly amount or should I ask for token payments as I feel quite fragile at the moment and don't want the worry off courts and bailiffs any advice would be appreciated 
Thank you

If your not earning, you shouldn`t be paying, simply write to your creditors, and stepchange,  and explain the situation, its pretty straightforward.

They will take your circumstances into account, most likely put your accounts on hold for 6 months or so.

Are you a homeowner, or do you rent ?
How much debt do you have ?
Would a DRO be possible now ?

Forget courts and bailiffs, last resort, not a first response.

Hi 
I have a mortgage and I owe £12600 to different creditors I originally had £30000 so it has gone down a bit
Thank you

SuperFrank88

Al3x2204 said:

Hi all, looking for some guidance. I finally bit the bullet to enter into a DMP after paying nearly £1000 a month in debt repayments which was not bringing the total overall values down. I could not see a way out so decided this was the best course of action. 
 I have just signed up and completed DMP proposal with stepchange. First payment of £478 goes out on the 1st of Feb 21. I have everything set up and wages into a new bank account. However I have today recieved intended default notices from halifax on loan and overdraft I had with them. What advice would you give on how to proceed? should I wait and let it go into default. Is their anything I should worry about such as being taken to court and given a CCJ? I expect all 5 of my credit agreements to go into default but I am making each monthly payment through stepchange. 

Hi @Al3x2204, I wouldn't worry too much. I had a load and CC with Halifax and they defaulted both accounts after say 6 months or so and sold it to a company called Link Financial. Funnily enough I have today set up a payment plan with Link Financial to start paying. It was so easy, I used their text service instead of calling them. I told them what I could afford to pay which is a really small amount. They did not ask me to send proof of income & expenditure as I told them I was running a self managed DMP with the help of NED CAB, really easy to do. They sent me payment details so I could start a standing order from next month. Really easy to deal with.