DMP mutual support thread part 13 !!

debtfreeme2021

@Suseka97 thank you 

hanbab

Hello everyone, posting for a bit of mutual support as I've spent the last hour sobbing after a difficult phone call with Natwest, and better to take action/ask for views than to sit doing that!

I'm trying to move away from PayPlan to deal with individual creditors directly instead. The way in which PayPlan calculated the DMP payments meant some were being paid over the minimum contractual amount and some under, and I kept getting told we should not be on a DMP. While I agree this isn't what DMPs are designed for, we were given no option by Natwest who referred us to PayPlan when my husband lost his job and we were refused a consolidation loan (that we could afford - got right to the last hurdle and the risk department said no) or a temporary direct arrangement to pay a lower amount until he found a job. Once the DMP started and interest/charges were not being applied, that meant many payments were over the minimum amount due. 

(I've posted about it before, but though excellent advice on here guides to make token payments until defaulted so you can build up an emergency fund, I can't miss payments as I'm a lawyer and need to keep that job in order to make said payments!).

Our circumstances have much improved after 6 months, and for the majority of creditors it has been easy to come to an agreement with them directly. Natwest Credit Card is the exception - not defaulted because DMP payments have mainly been over the minimum contractual amount, though apparently not the past two months (they can't tell me what that amount should be, and I can't work it out as they've blocked all statements coming to me or online banking). Having called them to try and set up a direct arrangement, or to come off the plan and start paying interest, or even top up the last two months to whatever mythical minimum contractual payment amount is due, I've been told no that's not possible unless PayPlan says so - PayPlan says that's not true and I have to come to an arrangement with Natwest myself. Anyone else been stuck in this Catch 22? 

I really don't want to be defaulted while I keep getting batted between the two parties as it will start that 6 year damaged credit record cycle again (after being defaulted by the other Natwest accounts in July). Hence the tears. 

At the same time my father in law is very ill and keeps wanting to have conversations about inheritance and using it to buy a house with a garden for my daughter to play in (we own a small flat on Help to Buy and feel incredibly lucky for it). I don't want to tell him about our financial problems in his last days so just nod and smile. Am I right in thinking we might have a chance with a specialist bad credit broker to get a bit of a higher mortgage after a year of a default, or maybe longer than that? Has anyone managed this? Looking at house prices in my area mortgage payments would work out only a small amount more than our mortgage+service charge+ground rent so I was hoping against all odds we might be able to do that.

Sorry lots of questions but if anyone has any thoughts on any of it I'd be so, so grateful.

K24051993

Hey guys. Long time reader first time poster. 

I’m on a DMP with StepChange. 
The first two months were paid in full. Third month (October) I paid less than expected (I spoke with StepChange about this beforehand) as I had COVID and was on SSP. This month (November) I’ve had an unexpected cost of fixing a boiler in my house so I will be unable to make the agreed payment for two months in a row. 

It’s stressing me out as I think they might not see me as being serious but life is just getting in the way at the moment and testing me! 

Any advice? I’m going to contact StepChange and be upfront about the fact I won’t be able to meet my agreed amount for the 2nd month in a row but I’m wondering what sort of response to expect? 

Moveslikeagger

My advice would be to go self managed. Contact your creditors and say you have unexpected bills and will drop to token payments or no payments at all for a couple of months. Then when your ready start paying again

justamummy

I have been on a dmp with step change for 3 years.  If I want to go self manged do I contact step change to say I 2ant to end to dmp and then each of the creditors to say I will be going self manged, then contact each credtor with the amount I will be paying them. 
Will I need to send each creditor a list of my income and out goings? 

sourcrates

justamummy said:

I have been on a dmp with step change for 3 years.  If I want to go self manged do I contact step change to say I 2ant to end to dmp and then each of the creditors to say I will be going self manged, then contact each credtor with the amount I will be paying them. 
Will I need to send each creditor a list of my income and out goings? 

You run the arrangement in a semi professional manner, you cancel your arrangement with step change, you contact your creditors to update them.

I am now going self managed, this is what I will be paying you, this is my reasoning behind that offer (enclose copy of workable budget) this is when you will be paid etc etc.

Its not difficult, the copy budget you send them is used purely to justify your payment amount to each creditor, it does not have to represent your actual budget.

You run the arrangement so that it benefits you firstly, and your creditor's second.

Penguin_

I have been sent a letter from Intrum saying they are unable to fulfil my request for the CCA & have said it is unavailable.

As this has already defaulted in August 2018, would it be worth seeing if they will accept a low amount to partially settle the account?

Debtfreeat50

My DMP provider are no longer proving debt management so thought this is ideal opportunity to go srlf managed after 2 years.
I am following the process set out by CAB but us there anything else I should do prior to moving across?

sourcrates

Debtfreeat50 said:

My DMP provider are no longer proving debt management so thought this is ideal opportunity to go srlf managed after 2 years.
I am following the process set out by CAB but us there anything else I should do prior to moving across?

I refer you to my post above.

bluebell_on_track

Just a quick one. How do I get my creditor to default my account? Do I need to
make token or not pay at all? Thanks