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DMP mutual support thread part 13 !!

edited 13 March 2019 at 10:03AM in Debt-Free Wannabe
3.2K replies 460.7K views
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  • Just wanted to say Hi and that I am not knew to this thread, but have had to sign up again with a new username. Was thinking of changing anyway, but then fate stepped in and today I had a problem with password, so I am now a new me.
    Janary2015....you know who I am....I am your cyber twin.:rotfl:
    DMP 2015 £57,549, now £36,112 (37% paid)
    EF £200 Mortgage OP's this year £115

    There's a Great Big Beautiful Tomorrow, Shining at the End of Every Day!

  • Hi All, am a bit excited and surprised. So as i've been coming to the end of the DMP been trying to get things in place for next stage.... Re-mortgage if possible.

    So I was going through bits and bobs and had been advised again to dispute the default date of two of the debts an O/D and an old cc as they took 18 mnths on cc and 2 years on O/d. So i've not heard back from o/d yet. But cc they have agreed to set the default date back to Nov 2012 saying while it was the right thing to do then, its not how they do things now. Also they repaid the interest that was applied up to default date, which meant that the remaining portion is now paid off ( and a bit more in the bank).

    So thats it I am debt free! Cannot believe it as had a couple of months to go. I cant thank this particular forum enough from the early days of panic/shame to day to day queries during management to knowing theres folk out there that understand where you are.

    Wishing you all the best for your DFD journeys!
    LBM Sept 2012
    started DMP 1.11.12
    Debt [STRIKE]£37012[/STRIKE]/£0 DFD January 2019 :beer:
  • Does anyone here have experience of signing up with Virgin Media whilst on a DMP? They have just installed it in our area and we were thinking of changing but not sure we'll pass the credit check.
    Thanks
  • 2017spark2017spark Forumite
    49 posts
    Third Anniversary 10 Posts Combo Breaker
    I definitely agree with GibbsRule - you are better off keeping the pension contribution. You pay less tax so it's worth more than £63 to you even now, but paying it in to you pension - when you eventually draw the pension - it will be worth so much more every month for years and years.

    Seriously - consider reversing that decision on the pension.

    Completely understand where you are coming from and I did think hard about this - there is is 3% from me and 3% company contributions going on - just not my additional 3% I chose on top. With my company we can up or reduce our payments each month so my plan is to reduce it for one year only - then back up. In this time it will clear 2 separate debts on its own. Thanks for the replies and advice though :) xx
  • 2017spark2017spark Forumite
    49 posts
    Third Anniversary 10 Posts Combo Breaker
    jubilee14 wrote: »
    Hi All, am a bit excited and surprised. So as i've been coming to the end of the DMP been trying to get things in place for next stage.... Re-mortgage if possible.

    So I was going through bits and bobs and had been advised again to dispute the default date of two of the debts an O/D and an old cc as they took 18 mnths on cc and 2 years on O/d. So i've not heard back from o/d yet. But cc they have agreed to set the default date back to Nov 2012 saying while it was the right thing to do then, its not how they do things now. Also they repaid the interest that was applied up to default date, which meant that the remaining portion is now paid off ( and a bit more in the bank).

    So thats it I am debt free! Cannot believe it as had a couple of months to go. I cant thank this particular forum enough from the early days of panic/shame to day to day queries during management to knowing theres folk out there that understand where you are.

    Wishing you all the best for your DFD journeys!

    Congratulations!! Great News - and enjoy it :) x
  • Hi I’m about to set up a SM DMP and was wondering about interest on my CCs. Most of my balances are on 0% transfers, will I have interest added to them and backdated because I haven’t kept my side of the bargain? I need to brace myself if the debts are going to rise significantly before I’ve even started.
  • Hi HonestS,
    They cant backdate interest. Also a quick update from me. All my creditors have frozen interest. MBNA accepted a payment plan. Halifax have defaulted my loans already and are passing my debts to their collections team and wont add further interest! Tesco have been the slowest but all creditors have been really good and stopped/frozen interest. For any doubters out there, dont panic its the best thing you will ever do!
  • Hi Honest S. My post a few lines up about finishing DMP was linked to them actually taking interest off that had been applied at time of DMP starting. It looks to me as a rule that some creditors seem to accept thats not the right way to treat people trying to address the debt issues.

    So i would be hopeful thats the case with you and they stop interest in full in a reasonable amount of time. Good luck
    LBM Sept 2012
    started DMP 1.11.12
    Debt [STRIKE]£37012[/STRIKE]/£0 DFD January 2019 :beer:
  • edited 10 January 2019 at 7:23PM
    snowbeansnowbean Forumite
    140 posts
    Eighth Anniversary Combo Breaker
    edited 10 January 2019 at 7:23PM
    jubilee14 wrote: »
    Hi All, am a bit excited and surprised. So as i've been coming to the end of the DMP been trying to get things in place for next stage.... Re-mortgage if possible.

    So I was going through bits and bobs and had been advised again to dispute the default date of two of the debts an O/D and an old cc as they took 18 mnths on cc and 2 years on O/d. So i've not heard back from o/d yet. But cc they have agreed to set the default date back to Nov 2012 saying while it was the right thing to do then, its not how they do things now. Also they repaid the interest that was applied up to default date, which meant that the remaining portion is now paid off ( and a bit more in the bank).

    So thats it I am debt free! Cannot believe it as had a couple of months to go. I cant thank this particular forum enough from the early days of panic/shame to day to day queries during management to knowing theres folk out there that understand where you are.

    Wishing you all the best for your DFD journeys!

    Wow, that's fantastic! And how nice that you ended up with a bit extra too!

    Do you mind me asking who that cc was with?
  • Great, thanks.

    After all the worrying for months I’m actually quite looking forward to getting to grips with this now. I even fell asleep ten minutes after I got in bed last night, I can’t remember the last time I did that! I’m sure it’s because I’ve spent the last two evenings reading through this thread, I feel like a weight has been lifted just knowing there’s a way through it. I’m really grateful for all the info on here.
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