DMP mutual support thread part 13 !!

April22

vix4288 said:

Hi All.

My first post in this group….

I have taken the first step of signing up for a DMP with Step Change as I am in way over my head with debt and need to positively find a way out of my situation. I am just waiting for everything to be set up.

I have gotten into a bad situation of borrowing to cover existing borrowing and got in an awful mess.

I did a separate post about worrying about acceptances/rejections from creditors and got some amazing advice about paying what I can afford.

I had another worry that I hope someone may be able to advise on or share their experience of. 2 of my debts are fairly large personal loans which were taken out fairly recently and I have only made a few payments on. I am really worried that it will look like I took the loans out knowing I wouldn’t pay them back and that they may think I took them out knowing this. I had full intention of meeting the repayments but it’s all just got too much.

Has anyone else had this experience with a new loan and DMP and the responses from a creditor?

Thanks in advance for your advice.

I took out a loan only a few months before starting a DMP but it was absolutely fine. Shawbrook Bank. They accepted the DMP without question. Don’t worry about that. I expect that happens a lot where people try to
borrow money to cover other borrowing and it doesn’t work. So stay positive 

sourcrates

vix4288 said:

Hi All.

My first post in this group….

I have gotten into a bad situation of borrowing to cover existing borrowing and got in an awful mess.

I am really worried that it will look like I took the loans out knowing I wouldn’t pay them back and that they may think I took them out knowing this. I had full intention of meeting the repayments, but it’s all just got too much.

Has anyone else had this experience with a new loan and DMP and the responses from a creditor?

Thanks in advance for your advice.

You are but an account number to your lender, you are thinking in terms of a personal response, banks don`t do personal, you took out a loan, you defaulted on payments, that`s how the bank sees it, banks only deal with facts.

You will be treated as any other customer who can`t make full repayment, under the terms of the consumer credit act, your behaviour fits a familiar pattern amongst those who struggle financially, borrow/consolidate/borrow/consolidate at some point the wheels always fall off.

This may all be new to you, but the lenders are well used to dealing with such situations.

Hols2021

Hi, just looking for some advice please. I checked my credit report tonight and I have my first Default on it. I’ve not received this in the post yet but I think Arvato are dealing with it and I tried to use the link they sent me in a text yesterday to set a payment plan up online but it’s saying I have to call them. I wanted to do it online or in writing rather than over the phone. Do I need to call them or would I be best to email them? I also had a vmail from Wescot asking me to call them but I’d rather hear from them in writing as I’ve not had any letters from them yet so I’m not sure what debts it’s relating to…..

Harveyhelp

Hi all 

very new here and stubbled across this but just wondered if someone could offer me some advice please as I have seen some
fantastic tips 

in 2021 I took out a storecard for JJB sports (went into administration on 2012). The balance was £400 

at the time I want working and my daughter was undergoing cancer treatment. It was to buy her a few things (though silly of my now)

long story short. I am still paying the debt. It was with creation finance for a long time and just changed again. Due to interest and charges over the years the debt is now over £1400 even though interest and charges had stopped some years ago. 

Please can someone advise if and how I can appeal this? I believe it was irresponsible lending along with a lot of interest and charges but with JJP Sports no longer in existence im
not sure of the next steps? 

Thanks 

Hols2021

I called Arvato this morning and my card debt has now been sold to Cabot so I will wait to get a letter from them and hopefully set up a payment plan. I’m a little worried I said something I shouldn’t have though as another account is with Arvato and they asked if I could pay 1% of the balance which I can’t afford to right now but I said this and also that my account hasn’t defaulted and I’m wanting it to default he said he’s note this on the account and said it’s not dues to default until the 30th November…..but worried now that I shouldn’t have said that! 

rachy185

Hi all,

Just wondering if any one who entered breathing space continued with their monthly debt payments?
I've entered one today but was hoping in the meantime to save the monthly payments towards my saving allowance as I won't be able to get further credit but it says I have to still pay

Thankyou

Hols2021

rachy185 said:

Hi all,

Just wondering if any one who entered breathing space continued with their monthly debt payments?
I've entered one today but was hoping in the meantime to save the monthly payments towards my saving allowance as I won't be able to get further credit but it says I have to still pay

Thankyou

Hi, We never made any payments during breathing space and managed to put a little bit away during that time, some of them extended the 30 days for us too. Hope that helps a little

rachy185

Hols2021 said:

rachy185 said:

Hi all,

Just wondering if any one who entered breathing space continued with their monthly debt payments?
I've entered one today but was hoping in the meantime to save the monthly payments towards my saving allowance as I won't be able to get further credit but it says I have to still pay

Thankyou

Hi, We never made any payments during breathing space and managed to put a little bit away during that time, some of them extended the 30 days for us too. Hope that helps a little

Thankyou this helps, I want to save the 2 months money for emergency funds without being hassled by stepchange

sourcrates

rachy185 said:

Hols2021 said:

rachy185 said:

Hi all,

Just wondering if any one who entered breathing space continued with their monthly debt payments?
I've entered one today but was hoping in the meantime to save the monthly payments towards my saving allowance as I won't be able to get further credit but it says I have to still pay

Thankyou

Hi, We never made any payments during breathing space and managed to put a little bit away during that time, some of them extended the 30 days for us too. Hope that helps a little

Thankyou this helps, I want to save the 2 months money for emergency funds without being hassled by stepchange

That is the whole point of breathing space lol

sourcrates

Hols2021 said:

I called Arvato this morning and my card debt has now been sold to Cabot so I will wait to get a letter from them and hopefully set up a payment plan. I’m a little worried I said something I shouldn’t have though as another account is with Arvato and they asked if I could pay 1% of the balance which I can’t afford to right now but I said this and also that my account hasn’t defaulted and I’m wanting it to default he said he’s note this on the account and said it’s not dues to default until the 30th November…..but worried now that I shouldn’t have said that! 

Hols, do everything in writing, never ring these companies.

Anything to do with debt, always in writing only.