DMP & Mutual Support Thread - Part 10

Time_to_face_the_music · 23 August 2014 at 11:14AM

BeingDebtFreeStartsHere wrote: »

Thanks Are there any templates on the MSE site that I can use to send to the creditors?

There are some very useful template letters on the National Debtline website:

https://www.nationaldebtline.org/EW/sampleletters/Pages/default.aspx

Make sure you include wording about stopping action while you are seeking financial advice and requesting that the creditor(s) freeze interest and charges.

Welcome to all the newbies and very well done to those finishing their debt free journeys, you are an inspiration to us all :j

It's great to see the thread so busy and active with all the usual fantastic mutual support going on :T

Hope everyone has a great long weekend

TTFTM x

tayajade · 23 August 2014 at 12:19PM

bongo1 wrote: »

Hi there .......

Just checking in to say that day has finally come and i'm now debt free.:beer:
I would like to say without the information and support of this forum I would never thought this day would come. I'm totally grateful and thankful.

I have been in debt for most of my working life and im now 36 I don't owe a penny to anyone lol. I got myself in a right mess with credit cards and was on the road to where I thought I was going to lose my home and everything. It took me along time to pluck up the courage to call for help, I rang CCCS (stepchange) and they kindly lead me to a DMP. it was the best thing that I have ever done money wise, With the plan soon set up I was able to stop worrying about money and concentrate on living.

My plan was running smoothly with the odd review here and there. I shaved 3 years off my DFD by claiming back my PPI on credit cards which helped massively, I also got a promotion at work with a nice rise in salary so I put the extra onto my payment plan. I still cant believe I have managed to pay back it all back in 3 years.

To anyone who is going through debt and you think your alone , you are not......Pick up the phone speak to someone you will feel loads better!!!!

At the end of the day its only money!!!!!!!!:D

Once again thankyou for threads like this one as they are truly amazing..... hope you don't mind the long post I just had to get it off my chest lol....

Regards

Kev

Congratulations that's amazing! Very encouraging for those of us just starting out...I honestly can't imagine how it will feel to get to the end at the moment

wannabedebtfree2016 · 23 August 2014 at 3:58PM

Little update from myself......

DMP with SC is now activated. Had a courtesy email from Quick Quid acknowledging that they have set my account status to "credit counselling" along with an FCA attachment on how to deal with debts.....thought it was kinda nice of them to acknowledge to me that SC have been in touch.

Had a call of Mr Lender who have kindly taken £110 out of my account. Luckily, because I work in banking I know how CPA cancellation works and told a little white lie to the bank to get the money back and cancel the CPA going forward.

Calls off Peachy, WDA and OnStride are coming through thick and fast asking for me to call them urgently.......at this point I am extremely worried! I get the impression they are not going to be nice to deal with.

Mr Lender contacted my place of work and my family home, luckily I answered at work but my mum answered at home, managed to get out of that by saying it's marketing or something.......can't beleive they can ring and say who they are calling from......surely Data Protection Act comes into play here!!! Anyway I have managed to speak with them asking them only to contact my mobile ...... I said "if you contact my work again they will find out, I will be sacked, you will not get any money"....I then got an email saying that they have removed said numbers.

Now, should I make token payments as my DMP 1st payment is now going to be 1/10/14. I want these to default as quickly as possible. If they all default around the same time then I can get it out of the way and hopefully get interest and charges frozen..... Should I make token payments or not?

Great to hear the stories of becoming debt free! It really does prove that there is light at the end of a long dark tunnel.

Good luck to all.

Wannabe

ghostmadlittlemiss · 23 August 2014 at 4:57PM

wannabedebtfree2016 wrote: »

Little update from myself......

DMP with SC is now activated. Had a courtesy email from Quick Quid acknowledging that they have set my account status to "credit counselling" along with an FCA attachment on how to deal with debts.....thought it was kinda nice of them to acknowledge to me that SC have been in touch.

Had a call of Mr Lender who have kindly taken £110 out of my account. Luckily, because I work in banking I know how CPA cancellation works and told a little white lie to the bank to get the money back and cancel the CPA going forward.

Calls off Peachy, WDA and OnStride are coming through thick and fast asking for me to call them urgently.......at this point I am extremely worried! I get the impression they are not going to be nice to deal with.

Mr Lender contacted my place of work and my family home, luckily I answered at work but my mum answered at home, managed to get out of that by saying it's marketing or something.......can't beleive they can ring and say who they are calling from......surely Data Protection Act comes into play here!!! Anyway I have managed to speak with them asking them only to contact my mobile ...... I said "if you contact my work again they will find out, I will be sacked, you will not get any money"....I then got an email saying that they have removed said numbers.

Now, should I make token payments as my DMP 1st payment is now going to be 1/10/14. I want these to default as quickly as possible. If they all default around the same time then I can get it out of the way and hopefully get interest and charges frozen..... Should I make token payments or not?

Great to hear the stories of becoming debt free! It really does prove that there is light at the end of a long dark tunnel.

Good luck to all.

Wannabe

I personally would go for token payments for a little bit, at least to let you get an emergency fund together as you won't be able to use credit any more. It won't guarantee a default but you can always push for one later on if need be.

Here is a link to a template letter for telephone harassment. Pop a copy to the companies that are calling you, by Recorded Delivery if you can, and make sure to follow it up with a complaint to the relevant people if they don't stop. Make a note of when they call from now on so you can put it in a further complaint if need be. Hope this helps. (Hark at me giving advice like an old pro. Never thought that'd happen! :rotfl:)
Kayleigh

Sazzie23 · 23 August 2014 at 8:09PM

outsider2040 wrote: »

Hi all,

I have a query on the DMP; I am financially linked to my dad on the mortgage (only 1 financial link). If I was to take up the DMP I know that it would destroy my credit rating/score and I know my dads will be affected. My question is that will my dad still be able to use his credit cards?

Thanks all.

Hi Outsider, I have financial links with my OH (ex) through our joint secured loan but he has been able to access additional credit, however he does know about the DMP and is upfront when he goes to the bank, explaining that we are no longer financially involved apart from the loan.

Hope this helps

Sazzie23 · 23 August 2014 at 8:18PM

Good news Kate about the London trip I mean, not the leg obviously.
Sounds like the options of Uni plans are getting narrowed down a bit too which helps remove more of that unknown element.

Quick reminder to all newbies on SC DMP that although your payment to SC will go out on DD on 1st or 8th of the month, SC don't pay your creditors until the 25th of the month, so you might need to make token payments in Sept and Oct. I didn't (because I was in a state and hadn't found this thread) and nothing bad happened but might have saved me a few letters and phone calls.

My news is that although have only cleared 0.6% this month (due to changing statement dates) I have gone down to the 21K's and less than £500 on my non-DMP loan. I love milestones, no matter how small.

Have a good bank holiday everyone

BeingDebtFreeStartsHere · 23 August 2014 at 9:40PM

Thanks so much Dad2One and TTFTM

Templates are really helpful. Feeling more and more positive about the whole DMP process. Feel like we can get through it with all the support and advice on here

sunnyskies2 · 24 August 2014 at 8:31AM

Hi all

Welcome newbies:hello:

Have been on a camping break to Isle of Wight - lovely, but camping is sooo tiring:rotfl:

...therefore a bit belated here - but thank you sazzie, Kate and puzz re: the job, it is about tiredness but I have decided to go for it, it should bring DFD forward and I can always look for another if it is too much.

Fantastic health news suseka and fuzzy you must feel so relieved.

Kate so many good things going on for you lately - so pleased for you

It's a great feeling, isn't it, knowing spending money is from your own funds and not from a card :T... .I hope the leg calms down quickly for you.

DMP news - Came home to a load of arrears notices and no defaults showing on Noddle still

, rating now gone down from 3 to 1. I will make last token payments this week for Sept, as advised, even though first SC payment comes out 10 Sept:j. (For newbies I set up my DMP in June and have been making token payments since then).

Thank you bongo and dadofoneor the inspiring DMP and debt free stories :beer:-... can't wait till I'm there too!

Happy bank hol weekend to all - I hope it's a sunny one

Sarah x

Time_to_face_the_music · 24 August 2014 at 10:13AM

wannabedebtfree2016 wrote: »

Little update from myself......

DMP with SC is now activated. Had a courtesy email from Quick Quid acknowledging that they have set my account status to "credit counselling" along with an FCA attachment on how to deal with debts.....thought it was kinda nice of them to acknowledge to me that SC have been in touch.

Had a call of Mr Lender who have kindly taken £110 out of my account. Luckily, because I work in banking I know how CPA cancellation works and told a little white lie to the bank to get the money back and cancel the CPA going forward.

Calls off Peachy, WDA and OnStride are coming through thick and fast asking for me to call them urgently.......at this point I am extremely worried! I get the impression they are not going to be nice to deal with.

Mr Lender contacted my place of work and my family home, luckily I answered at work but my mum answered at home, managed to get out of that by saying it's marketing or something.......can't beleive they can ring and say who they are calling from......surely Data Protection Act comes into play here!!! Anyway I have managed to speak with them asking them only to contact my mobile ...... I said "if you contact my work again they will find out, I will be sacked, you will not get any money"....I then got an email saying that they have removed said numbers.

Now, should I make token payments as my DMP 1st payment is now going to be 1/10/14. I want these to default as quickly as possible. If they all default around the same time then I can get it out of the way and hopefully get interest and charges frozen..... Should I make token payments or not?

Great to hear the stories of becoming debt free! It really does prove that there is light at the end of a long dark tunnel.

Good luck to all.

Wannabe

An important thing to remember when starting out on a DMP is as well as cancelling DDs with your bank, you must also cancel all CPAs or PDL companies may still try to take money from your account. Have you cancelled the CPAs for your other PDLs? You don't need to tell little white lies to the bank, they must cancel they if you ask them to.

TTFTM x

BeingDebtFreeStartsHere · 24 August 2014 at 3:36PM

Quick (and probably daft!!) question:

Can we choose what date our DMP direct debt is taken out of the current account on or do StepChange do a specific date for all DMPs?

Thanks

DMP & Mutual Support Thread - Part 10

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free