DMP mutual support thread part 13 !!

sourcrates

carbootcrazy wrote: »

Thank you:T

Will get the I&Es off tomorrow, once I've worked out how little money I have available to pay them with each month;)


Good idea about the email:j. I've never used it to communicate with creditors, although I use it for nearly all other communications in my life. I tend to rely on snailmail for creditors but everything takes so long:(. I think I might give it a go although I'm sorely tempted to use the phone in this case.

I`ve phoned up creditors before, in the past, to negotiate settlement deals, I like to have a little banter with them, strike up some rapport, of course this is only possible if the opposite number is in a chatty mood, I find the Indian ladies an gents more amenable to this, as it takes them away from there script, and slightly unnerves them, anything agreed must always be backed up in writing or by email, good luck.

Changingtimes

All creditors contacted, some I heard back from and very nice about things, some not so nice, some agreed 30 days breathing space but while I am trying to do things quickly it's all taking time ( with doing a full time job 7am til 6) and homelife. I have 16 creditors and didn't realise I had so many until I wrote them all down (I am so angry at myself).
All creditors were paid in OCTOBER, and new bank account set up for November salary.
I know most of you guys set up an emergency fund - did you open a savings account for this ?
My 30 days breathing space will run out 1st/2nd week December and I thought great timing right on top of Christmas.
DMP papers not yet returned to SC as I am still getting all references and balances for them,
Do you know if creditors would extend 30 day breathing space?
Ideally, I want to start paying January, after a low key Christmas and perhaps 2 months of saving an emergency fund?
Thanks in advance for your guidance

*** just worked out one high interest loan I had £3000, already paid over £5000 back and they still say I still owe over £3000. What an absolute idiot I have been. Never again will I get myself in this position again.

Time_To_Change

Hi all. Just a quick update on where I am at the moment with my DMP. Barclaycard and MBNA have been very understanding and helpful. Tesco bank however are still being a pain. They seem to take ages to respond to anything and then they are not very clear in their responses. I offered to pay them £10 a month until January on my CC and then up it to £60 a month from then. They have replied saying they have accepted my temporary payment plan of £10 a month for one month and then I need to continue making the contracted minimum payment. The have also said interest and charges will continue to be added. Does anyone else have any experience dealing with them? Actually thought they would be one of the easier creditors to deal with. It just seems like a bit of a setback when everything seemed to have been running smoothly ��

JustinN37

Hi to all on the forum.

I'm currently in the process of setting up a plan with Stepchange.

Slightly unsure of the whole process after set up, but it's a big weight off my shoulders when the plan is in place.

All the best to those on their repayment journey's.
Justin

Lmrcpr

Sorry another question from me. Part of my income is house keeping money from my husband but he normally pays extra into my bank for me to give him back later in the month so I don't know how to prove that income to step change. Is it likley to be a problem?

purplepaws

Lmrcpr wrote: »

Sorry another question from me. Part of my income is house keeping money from my husband but he normally pays extra into my bank for me to give him back later in the month so I don't know how to prove that income to step change. Is it likley to be a problem?

When completing your I&E, if the money from your husband is given to you to cover expenses, could you not just indicate that? (Housekeeping = £400, Food shopping =£400 for example?) It will balance out then. Also Step Change don't need to see your bank statements so I'm not sure why it should be a problem? I did not send bank statements to Step Change for my DMP and I don't recall them asking.
Try not to over think the process of setting up the DMP. It isn't a test and no one will try to catch you out if your figures are a little 'vague'. You are doing a good thing by trying to get your finances sorted - it will make you feel so much better once you have them under control. Good luck and keep asking as many questions as you need!

Suseka97

Time_To_Change wrote: »

....Tesco bank however are still being a pain. They seem to take ages to respond to anything and then they are not very clear in their responses. I offered to pay them £10 a month until January on my CC and then up it to £60 a month from then. They have replied saying they have accepted my temporary payment plan of £10 a month for one month and then I need to continue making the contracted minimum payment. The have also said interest and charges will continue to be added.

Just stick with your plan and ignore the 'pay the minimums' request and pay the £10 until January and up to £60 when you are ready. If it were me - if they continue to apply interest and charges - I would drop them to token (or no) payments stating that some unexpected expense has landed and you're no longer in a position to pay anything more than token payments for the time being. That might push them to default you or sell your account on.

The sad fact is that creditors are not obliged to a) default or b) stop interest and charges. As you have already experienced, some will play ball and others wont -and there's no consistency between creditors. I sometimes wonder if that depends on who you happen to speak to, or who responds to the letter/s, at any given time, Some are genuinely trying to help people in financial straits and others are just bloody minded!

Stick to your guns and don't be told what to do

Time_To_Change

Suseka97 wrote: »

Just stick with your plan and ignore the 'pay the minimums' request and pay the £10 until January and up to £60 when you are ready. If it were me - if they continue to apply interest and charges - I would drop them to token (or no) payments stating that some unexpected expense has landed and you're no longer in a position to pay anything more than token payments for the time being. That might push them to default you or sell your account on.

The sad fact is that creditors are not obliged to a) default or b) stop interest and charges. As you have already experienced, some will play ball and others wont -and there's no consistency between creditors. I sometimes wonder if that depends on who you happen to speak to, or who responds to the letter/s, at any given time, Some are genuinely trying to help people in financial straits and others are just bloody minded!

Stick to your guns and don't be told what to do

Thank you for your advice. Do they have to stop interest once they have defaulted you? It is just annoying how a mainstream lender thinks it is sensible to carry on adding interest and charges to someone in financial difficulty. Thanks again.

Lmrcpr

Thanks to everyone who has answer my questions so far.

One of my debts is with tesco credit card. I have a mobile phone contract with tesco is it likley to be affected?

sourcrates

Lmrcpr wrote: »

Thanks to everyone who has answer my questions so far.

One of my debts is with tesco credit card. I have a mobile phone contract with tesco is it likley to be affected?

If i have egg and bacon on my plate, and i eat the egg, i still have the bacon left.
Likewise, if you continue to pay the mobile bill as per its terms and conditions, the account will run as normal.


One does not normally have an effect on the other.