DMP mutual support thread part 13 !!

Parkyp

That’s a great achievement. Well done 👏 

Hols2021

Hi, 

My husband has been asked by Zopa to complete an income and expenditure form listing what is owed to our other creditors, Mortgage lenders etc etc as the loan has now defaulted. Is this correct that we advise them who our other lenders are and what we owe them? This is the bit I am u sure of? 

sourcrates

Hols2021 said:

Hi, 

My husband has been asked by Zopa to complete an income and expenditure form listing what is owed to our other creditors, Mortgage lenders etc etc as the loan has now defaulted. Is this correct that we advise them who our other lenders are and what we owe them? This is the bit I am u sure of? 

There are no right or wrong answers to this, just do what you are comfortable with doing.

The base line is that you are under no obligation whatsoever to do anything they may ask of you, but the same also applies to them.

Find a compromise you are comfortable with, and just use common sense.

Hols2021

Thank you Sourcrates, can I ask we have two dogs who have to go walks when we are at work all day, should I include this under essential as it’s not something we have an option on not paying, or would we be better to add the costs of walks under something else? 

Newmum92

Hi,

I recently wrote to some of my creditors asking for a write off on the grounds of my mental health. AA loans have wrote back to me to say that in order to consider my request to be write off my debt they need to be able to speak to me on the phone to understand my situation more fully. 

I’m really nervous about this. What are they likely to ask me? And is it worth me doing? In the past I have asked for communication to be in writing or via email, so I’m not feeling great about having to phone them but if there’s a chance they will agree to my request then I don’t want to be difficult. What should I do? I am not very good on the phone when it comes to my debts, I usually end up crying and in hysterics, and feel pressured into things or as though they are trying to catch me out. They haven’t asked for a copy of my DMHEF Yet so I would have thought they would ask for that rather than a phone call with me. 

Thanks a lot 

sourcrates

Its always difficult trying to explain such things over the phone, my suggestion would be to write to them and tell them this, then go on to explain (again) how this issue affects you, don`t do anything your not comfortable with, there is nothing that can be said over the phone, that cannot go into a letter.

Newmum92

sourcrates said:

Its always difficult trying to explain such things over the phone, my suggestion would be to write to them and tell them this, then go on to explain (again) how this issue affects you, don`t do anything your not comfortable with, there is nothing that can be said over the phone, that cannot go into a letter.

Thank you sourcrates. Sometimes I feel like they intentionally make things difficult, when explaining how anxious the phone calls make me with panic attacks etc and the response is to call them, makes you feel like they are totally disregarding your mental health. I will do that though thanks. 

Moveslikeagger

To be fair to them you are trying to write off your debt. If they made it easy wouldn't everyone just ask for the same!?

Newmum92

Moveslikeagger said:

To be fair to them you are trying to write off your debt. If they made it easy wouldn't everyone just ask for the same!?

Yeah I am aware of that, don’t see how that comment is helpful? You don’t know my situation. 

rachy185

Hi everyone, just looking for advice really! As far as I've read i understand you need to let your accounts default before arranging a dmp to shorten the time the info is on the credit file. I have currently around 43k debt (5 credit cards and 1 loan) I currently pay around £840 a month on all these accounts. Currently they are 0% on the credit cards apart from a recent transaction i did, so I will be charged on £2900 I think roughly its 28% apr a year. I've done a soa in the past, it shows I have around £350 towards debt. 


I'm worried about stopping the payments to build up the emergency fund, I know it takes time for accounts to default and for the debt to be sold on. I'm worried about the in-between time, the letters and debt collectors turning up. I do want to pay this debt but its unmanageable and will spiral out of control once the 0% ends as early as feb 22. I would just like some of people's experiences and how they dealt with waiting to default. Will the debt collectors take belongings? Or will there enough time whilst waiting for defaults for arrangement plans to be set up?


How did you allocate money to the accounts, I'm thinking across the 6 accounts £50 towards each but I can't see it being enough and with the high debt its going to take forever to pay.

Also whilst waiting for the defaults am I right in thinking that there will added charges for no payments and with my debt being 0% will they start adding interest as I've broken the contract? So essentially I could end up owing a hell of alot more by the time the accounts default?!

Do ccjs happen with regards to credit cards or is that council tax etc? I'm up to date with all the priority debt and will ensure they are always.

I have a million questions but I just can't think straight at the min, I have had a good read but I just need that push to start. I've never missed a payment and its really scary thinking about it.


Thankyou in advance