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DMP mutual support thread part 13 !!

edited 13 March 2019 at 10:03AM in Debt-Free Wannabe
3.4K replies 470.9K views
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  • jbkmumjbkmum Forumite
    273 posts
    Eighth Anniversary 100 Posts Name Dropper
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    What does it mean when a creditor writes to you and says "Stepchange have offered us xx and we unfortunately cannot accept that, but we've told them that you should pay what you can afford"
    01/01/2020: £41,714.29
    04/03/2020: £40,601.62
    16/05/2020: £39,424.38
    25/06/2020: £38,949.93
  • Willing2LearnWilling2Learn Forumite
    6.3K posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    It means that you have nothing to worry about as they have to accept what you can afford. And I assume the £xx is an amount that you and SC have agreed you can afford given your income and expenses.

    You could contact StepChange to let them know you have received the letter and let them handle it from there. :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • sourcratessourcrates Forumite, Board Guide
    21.5K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
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    jbkmum wrote: »
    What does it mean when a creditor writes to you and says "Stepchange have offered us xx and we unfortunately cannot accept that, but we've told them that you should pay what you can afford"
    Also they may now be looking to dispose of the account to a debt buyer.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Suseka97Suseka97 Forumite
    1.1K posts
    1,000 Posts Fifth Anniversary Name Dropper
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    ......Its been a mixed week though as my big debt...
    11300... has sent all paperwork through and is enforceable. Felt a bit down as after five months had begun to get my hopes up.

    Do you know that for sure? Have you had that confirmed by someone else - such as the people on the All About Debt forum? If it is enforceable you may still be able to offer F&Fs at a suitable point in time - depending on how much you're currently paying and how long you've been doing so. Although I have enforceable debts I stop paying them for a while and have already been offered a 10% discount.
  • The second lot of letters sent off today with my I&E attached!
    MBNA, Tesco, Barclaycard all on the ball and have replied, M&S no acknowledgement but sent it anyway along with my offer of payments.

    Feel good to have everything under control, started a cash envelope system for all our outgoing and saving amounts!

    once its all up and running I will feel even better! :D
    Thanks to everyones posts on thread 12 who answered virtually every question I had!
  • Hi new thread when I started my journey think it was on be 9 so great to see how active and supportive it continues to be. Now looking at final 6 months this forum has been a great place for advice and support when needed.
    LBM Sept 2012
    started DMP 1.11.12
    Debt [STRIKE]£37012[/STRIKE]/£0 DFD January 2019 :beer:
  • about to kick off my DMP in the next month, got new bank account set up which my October wages will be paid into.

    how much is a recommended emergency fund? while I still have credit available should I use some of that to stash for an emergency?

    also I'm planning on using step change but seen people suggesting self managed. if I kick off with SC can I change to self further down the line?
  • NeverendingDMPNeverendingDMP Forumite
    617 posts
    500 Posts Second Anniversary
    ✭✭
    Suseska97. Its unfortunately enforcable. It was practically an encyclopedia of paperwork with all the right I that they needed to send. Biggest envelope I've had in a long while. I've offered them a tenner a month for the next few months then can potentially up it to 60 with my pro rata payments. I'm sure I will settle at some point and it's with a dca so the options there but it's gonna be my long standing one as my monthly leftover cash is too small to get anywhere close. I'm gonna pay less over Christmas and then decide whether to pay properly or not. My two smallest debts are with pra group. They are also unenforceable since April -pending further information but they won't budge from 90 percent as yet. I know I need to wait but it annoys me a bit as I have enough saved to clear them both at 50 percent each but obviously would want less.the next three highest debts are still with original people who show no signs of wanting to sell them as yet.
    35,213 - Jan 2018, 18121 remaining.
    Mortgage Jan 2018 =77224, 70284 remaining
    EF = 1040.
  • I have just joined this forum,thank God I did as it's giving me a little bit of hope.Reckon I've got about 14 credit cards most defaulted from 2014 onwards(69k)I'm on a DMP with SC for about 4 years,I've only just realised that some may be unenforceable as they were opened before 2007.I've just requested CCA on 3 of them,all of them have been sold on but when the DCA sent me any letters I just burnt them as I was on DMP,Of course I now want to contact the holders of these debts to request CCA-Any advice?
  • kramkram Forumite
    136 posts
    about to kick off my DMP in the next month, got new bank account set up which my October wages will be paid into.

    how much is a recommended emergency fund? while I still have credit available should I use some of that to stash for an emergency?

    also I'm planning on using step change but seen people suggesting self managed. if I kick off with SC can I change to self further down the line?

    Don't feel pressured to jump in & start the dmp straight away.

    How much you need for an emergency fund is up to you, its more how much you think you need if the car / boiler / cooker etc go pop as you will not have access to credit once you start a dmp.

    You can start with sc & change to self managed no problem, look through the previous thread there are several posts about it. ;)

    Have a look at the NEDCAB website, loads of info there as well, here's a link:

    https://nedcab.cabmoney.org.uk/


    Good luck. ;)
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