DMP mutual support thread part 13 !!

[Deleted User]

backandevenmorebroke wrote: »

Just a quick question regarding creditors accepting token payments.

I have 7 creditors in total, 2 have accepted £1 token payments and 3 I haven't heard from (bar standard missed payment letters, 1 asked for my I&E which I have sent but not heard anything back yet).

However, 2 have written back saying that they can see from my budget I have X amount leftover and if I am offering £1 token payments this is not being distributed between my creditors. I did explain in my letter enclosed with my I&E sheet that I am building an emergency fund as I will no longer have access to credit, currently have no savings and I am paying a large amount a month toward dental treatment. Do I just write back to them to reiterate this and state I will only be making the £1 token payments until 1st February (which is the date I stated in my previous letter) to which I will then send them a revised budget?

Thanks!

I'm not sure that creditors would accept the fact that you are using your disposable balance to build up an emergency fund instead of paying them. I think it's better to be economical with the truth when dealing with creditors. I know this goes against the grain with people who have always been totally honest but I'm afraid creditors just think about hard cash:(


I think the usual advice from posters on here is to flesh out your I&E a bit to make it look as if you only have available whatever it is you're planning to pay your creditors. Some people, for instance, list pet costs even though they don't have a pet, or cigarette costs when they don't even smoke;)


As you've already told your creditors the truth, that you are building up an emergency fund, I can't see a way to remedy the situation at the moment. Maybe you should just go along with a proper payment for now and then in a few months have a sudden expensive 'emergency' that you can notify them of. Sorry to not have any good news for you. I hope someone else will be along with a better solution. Have you budgeted for and listed 'dental treatment' on your I&E already? I think you should have done so.

Suseka97

Rogue6 wrote: »

Hello everyone,
I have entered in to a DMP recently and I am currently in between bank accounts as one of my creditors is my old bank account (which I owe an overdraft amount to).
My pay day is tomorrow, and my living wage is going to be paid in to my existing overdrafted account as I couldn't change my pay information before the cut off date....

.....I have spoken to StepChange and they advised to speak to my bank in branch tomorrow to have them release the funds as it's my living wage which I rely on to pay my priority bills (could I get them to release the PayPal payment too?) Rogue6

Unfortunately I don't think you'll have much luck getting them to return the PayPal payment. if they know you're about to enter a DMP and the overdraft forms part of it - they'll simply use their right to offset. I think you'll have to follow SCs advice here and give them a call as suggested. Sorry not to be of more help.

[Deleted User]

Lovely sunny day here:j. I hope you're all having a good one:beer:

Probably a dumb question coming up so apologies for it.

I paid my smallest debt off in full just before Christmas. It was a very small amount owed on an old Asda credit card and the only one that I didn't CCA. I now realise that I had PPI on that card which only came to light when I sent a SAR request to Santander for everything they held on me. Apparently Santander managed the card prior to Newday (who I was paying) taking it over.Sorry, this sounds more complicated than I intended:o.

The info sent by Santander was pretty scant, a fraction of the massive parcel of paperwork that Lloyds sent me for their SAR request. All it shows in the list of accounts was the number of the Asda card and date taken out. Miraculously, after a massive cull of paperwork years ago, I found an old Asda credit card statement among my old paperwork which shows that PPI charges were taken each month so I definitely know I had it. Santander hadn't sent me anything in the SAR relating to this card except the account number details and date that I mentioned.


I would dearly like to get hold of a copy of the signed application form etc but assume Santander don't have it seeing as they didn't send it. This account was opened in 2008 and maybe Newday will have something as they took on the debt.


What I need to know is whether it is possible to ask for CCA paperwork from a debt that is now repaid although it was only repaid and closed at the end of December. I seem to recall reading that there must be some balance remaining in order to request CCA stuff. I was hoping Newday would send me something useful that included the application form. I don't want it for unenforceability evidence, its a bit late for that now I've paid it off:eek:. I just need to check information on it for PPI purposes.


Sorry about the waffle:o but it was a bit difficult to explain what I was on about. Thanks for reading. Any help gratefully received:beer:.

sourcrates

Hi Carboot,


You are correct that a CCA request would not be valid now the debt is repaid, however if you write and ask for a copy of it, making it clear that it is not a request under sec 77/79, just a personal request, they may, and i stress may, just provide you with a copy as a gesture of goodwill, that is if they have it.


Stress that you are aware they have no obligation to send you it, but if on this occasion blah blah blah.

crazygirl

Hi all,
I've been reading through old threads and have been considering starting a DMP.

When I do an I&E it looks like I have enough money to cover minimums and have a surplus but realistically this never happens.

The main reason is that the I&E doesn't include things like saving for car maintenance and then the car breaking down, or a clothes budget and the kids needing school shoes, or even just xmas and birthday presents etc. So every month I end up in my overdraft and its getting worse.

So my question is, how do I work out what figures to put in when I've never managed to budget for it before and relied on credit.

Thanks for any help.

Willing2Learn

Hi crazygirl,

If you complete an SOA using the link below, it includes car maintenance, clothing, birthdays and xmas presents and just about everything else can be added. It works really well when trying to work out where your money is going, and what your monthly budget for debt repayments could be. It may need to be supplemented by a spending diary if the monthly budget still does not work out.

http://www.stoozing.com/calculator/soa.php

crazygirl

That's the one I'm using but how do I actually come up with the figures if I'm not even sure what they are?
I don't know if I'm explaining what I mean correctly as I know expenses are a personal thing.
Is there a guideline somewhere of rough figures that are acceptable?

Willing2Learn

It can take several versions of an SOA before you arrive at something realistic. I suggest you keep a spending diary, to log all your monthly spending, to make the SOA easier to complete. That way, everything gets included and nothing gets missed.

[Deleted User]

sourcrates wrote: »

Hi Carboot,


You are correct that a CCA request would not be valid now the debt is repaid, however if you write and ask for a copy of it, making it clear that it is not a request under sec 77/79, just a personal request, they may, and i stress may, just provide you with a copy as a gesture of goodwill, that is if they have it.


Stress that you are aware they have no obligation to send you it, but if on this occasion blah blah blah.

Thanks, sourcrates:T. I knew you'd know but we don't always see you on here so much these days.

I'll do what you suggested. Do I need to send a £1 P.O. for it as I would for a CCA?

Walker42

That's great thanks for the information I really appreciate the help