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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 13,775Posts
    • 13,092Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

    If you are in a DMP or thinking of one, this is the place to be. We are non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    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 forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
Page 186
    • Dandytf
    • By Dandytf 15th Apr 18, 1:12 PM
    • 1,149 Posts
    • 390 Thanks
    Dandytf
    SC DMP progress -my original Natwide Flex account has made an unexpected return to iphone app today, this account would have been -75to1k or something until 2011 when I was unemployed and asked step change tonsetup dmp2012.
    Nice balance of -1.82 -SC sticking to their pro data creditor payments, maybe it will be 1st debt to be cleared since 2012.
    Edited-Default amount was 832
    Not confident of asking for a new or reactivated overdraft -though what this could mean is I can consider flex savings.
    Nice suprise though, hopefully I get through next few years and watch debts and defaults drop off.
    Good luck MSER's -progress can be made.
    (Probably didn't have iPhone or a smart phone 2011 only online banking)
    Last edited by Dandytf; 15-04-2018 at 1:18 PM.
    sc dmp 2012 13k
    Jan 2018 8840 paid. 60% approx.
    • NewbieNat
    • By NewbieNat 15th Apr 18, 4:29 PM
    • 53 Posts
    • 29 Thanks
    NewbieNat
    Hsbc
    My basic account with HSBC is running well. I've just had a slight 'wobble' today, I read that HSBC now own Capital One CC's. Capital One is one of my creditors, so if anyone can ressure me, I'll be smiling & calm once more

    Thanks, Nat
    • ayupmeduck
    • By ayupmeduck 16th Apr 18, 6:10 PM
    • 17 Posts
    • 30 Thanks
    ayupmeduck
    Things are finally starting to happen with Natwest. Got another letter from them the very next day saying they would be shutting down my accounts but not my loan account. They also included a i&o sheet to fill in.

    Let's see who they sell my debts onto
    Debt: 13066 (March 2018) | Weight loss: 0/25kg
    • OohSoHolly
    • By OohSoHolly 17th Apr 18, 5:07 AM
    • 324 Posts
    • 160 Thanks
    OohSoHolly
    Thank Goodness for this forum

    Iíve been reading through the last few days and despite my initial worries think itís time to tackle my debt and look at a DMP. Since January I have been staving off a DMP but this has only led me to get a further £900 in debt and my mental health the last few weeks has really taken a turn for the worse, affecting not just me but my relationship with my partner and family.

    I think the thing that scares me the most is the beginning, recieving all the letters when the creditors are first contacted and the defaults appear! Also our fixed term on the mortgage is due to end in two months and I was hoping to hold off until then but I just canít continue on like this anymore.

    Oddly the destruction of my credit file doesnít bother me too much as I never want to look at another credit card ever again!

    My partner isnít aware of my struggles and at the moment Iím happier keeping it this way! Iím also hoping to get a better job in the next 12 months and hope I can therefore pay my debt off sooner. I have the aim of a three year plan, but we will see! I hope to pull on you all for support and thank everyone on here whoís already posted their experiences, I canít tell you how much it helps to know your not alone...
    [I'm Here to Money Save... Are you?]
    • Zerodebtsoon
    • By Zerodebtsoon 17th Apr 18, 11:26 AM
    • 15 Posts
    • 8 Thanks
    Zerodebtsoon
    Woohoo - PRA letter today confirming unenforceable! Old barclaycard, balance is almost 5k
    Still waiting to hear from Robinson Way and Sainsburys.

    What do I do now with PRA? I don't have anything saved for full and finals yet so can't make a cheeky offer. Do I pay token payments until I can start negotiating a full and final or just not bother ?
    • Leanneglos1
    • By Leanneglos1 17th Apr 18, 12:56 PM
    • 83 Posts
    • 26 Thanks
    Leanneglos1
    Hello
    I know this has probably been asked before so apologies, in the process of going self managed, one of the companies have emailed after receiving my letter asking why my wage has gone down from my initial application so have explained why, they!!!8217;ve also asked to see my most recent payslip and 2 months of bank statements before they will accept my offer, I don!!!8217;t want to send these as I have some overtime I am not going to include within my salary figure, any suggestions on what I can reply with?
    TIA
    • MK-4
    • By MK-4 17th Apr 18, 12:58 PM
    • 27 Posts
    • 12 Thanks
    MK-4
    Just starting with SC so can only offer some of my very limited experience.
    I was also worried by the letters / legal action etc. Spent weeks reading every post on this forum and it is clear that we, or our situation, is not unusual.

    The first letters are starting to come in. Some look to be very formal, and almost threatening.
    One creditor (H/fax) wrote and explained that the formal letters will follow (as internal or legal requirement?) but they do not need to be responded to.

    Spoke to one creditor on the phone, gave them my SC reference and the could log into SC on their own link, and see what the offer is to them.

    From all the other posts on here, it seems that the letters will come flooding in at the beginning of the DMP, but will tail off quite soon.

    It may be best if you talk to StepChange for advice.

    Thank Goodness for this forum

    Iíve been reading through the last few days and despite my initial worries think itís time to tackle my debt and look at a DMP. Since January I have been staving off a DMP but this has only led me to get a further £900 in debt and my mental health the last few weeks has really taken a turn for the worse, affecting not just me but my relationship with my partner and family.

    I think the thing that scares me the most is the beginning, recieving all the letters when the creditors are first contacted and the defaults appear! Also our fixed term on the mortgage is due to end in two months and I was hoping to hold off until then but I just canít continue on like this anymore.

    Oddly the destruction of my credit file doesnít bother me too much as I never want to look at another credit card ever again!

    My partner isnít aware of my struggles and at the moment Iím happier keeping it this way! Iím also hoping to get a better job in the next 12 months and hope I can therefore pay my debt off sooner. I have the aim of a three year plan, but we will see! I hope to pull on you all for support and thank everyone on here whoís already posted their experiences, I canít tell you how much it helps to know your not alone...
    Originally posted by OohSoHolly
    • sourcrates
    • By sourcrates 17th Apr 18, 1:12 PM
    • 13,775 Posts
    • 13,092 Thanks
    sourcrates
    Woohoo - PRA letter today confirming unenforceable! Old barclaycard, balance is almost 5k
    Still waiting to hear from Robinson Way and Sainsburys.

    What do I do now with PRA? I don't have anything saved for full and finals yet so can't make a cheeky offer. Do I pay token payments until I can start negotiating a full and final or just not bother ?
    Originally posted by Zerodebtsoon
    Unenforceable means just that.

    Concentrate on your enforceable debts, forget the ones that arnt.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    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 forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Suseka97
    • By Suseka97 17th Apr 18, 1:18 PM
    • 220 Posts
    • 326 Thanks
    Suseka97
    ...............I think the thing that scares me the most is the beginning, recieving all the letters when the creditors are first contacted and the defaults appear! Also our fixed term on the mortgage is due to end in two months and I was hoping to hold off until then but I just canít continue on like this anymore.
    Originally posted by OohSoHolly
    Trust me it gets easier, the letters will eventually dwindle to the odd annual statement and once defaults are applied you can be happy in the knowledge that all interest and charges will cease. I just wanted to speak to your comment about your fixed term mortgage coming to an end and wanting to hold off because of that. There really isn't any need because being on a DMP wont affect you moving onto another fixed term plan as long as you stay with your current provider.

    Woohoo - PRA letter today confirming unenforceable! Old barclaycard, balance is almost 5k. Still waiting to hear from Robinson Way and Sainsburys. What do I do now with PRA? I don't have anything saved for full and finals yet so can't make a cheeky offer. Do I pay token payments until I can start negotiating a full and final or just not bother ?
    Originally posted by Zerodebtsoon
    Good to hear it. We have 3 accounts with PRA (all pre-Barclays) and all turned out to be unenforceable. So for now, do nothing - I've not paid them a penny since I sent off the CCA requests back in Aug17 and I've heard nothing more from them following the letter around a month or so ago telling me they have proven to be UE. That doesn't mean they won't contact me at some point reminding me of my indebtness -and I may at some point offer a low F&F, but I'm not rushing to do so right now. Just play the long game

    Hello I know this has probably been asked before so apologies, in the process of going self managed, one of the companies have emailed after receiving my letter asking why my wage has gone down from my initial application so have explained why, theyve also asked to see my most recent payslip and 2 months of bank statements before they will accept my offer, I dont want to send these as I have some overtime I am not going to include within my salary figure, any suggestions on what I can reply with? TIA
    Originally posted by Leanneglos1
    Tell them whatever you like about the drop in wages - could be you no longer get certain allowances or you've taken a pay cut (its none of their business really). Also, you are under no obligation to send them wage slips or bank statements. Just go back with your I&E and say it is what it is and your offer remains at whatever that is. Stand by your guns and just pay them that amount. If your I&E has proven that's all you can afford, that's all you need to do.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 3 UE's and 3 with CCA's pending / £11k o/s
    • Leanneglos1
    • By Leanneglos1 17th Apr 18, 1:23 PM
    • 83 Posts
    • 26 Thanks
    Leanneglos1
    Thank you, I explained my wages gave gone down due to me and my partner splitting ways (not true) but trying to allow myself money to put aside for F&F, I!!!8217;ll go back to them, thank you
    • NewbieNat
    • By NewbieNat 17th Apr 18, 6:19 PM
    • 53 Posts
    • 29 Thanks
    NewbieNat
    Termination O/D Notice
    I have just received a termination notice from Barclays regarding my overdraft. they are demanding immediate payment, but say fees are 0% daily. I assume this is a standard letter? They haven't said if they accept my DMP starting 1st May. Do I need to do anything?

    Nat
    • January2015
    • By January2015 17th Apr 18, 8:16 PM
    • 2,054 Posts
    • 5,125 Thanks
    January2015
    I have just received a termination notice from Barclays regarding my overdraft. they are demanding immediate payment, but say fees are 0% daily. I assume this is a standard letter? They haven't said if they accept my DMP starting 1st May. Do I need to do anything?

    Nat
    Originally posted by NewbieNat
    Make a cup of tea, sit down, relax and..... smile

    Everything on track in your DMPland
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    [COLOR=Blue][SIZE=2]
    • EmergencyNurse
    • By EmergencyNurse 17th Apr 18, 8:17 PM
    • 71 Posts
    • 154 Thanks
    EmergencyNurse
    I have just received a termination notice from Barclays regarding my overdraft. they are demanding immediate payment, but say fees are 0% daily. I assume this is a standard letter? They haven't said if they accept my DMP starting 1st May. Do I need to do anything?

    Nat
    Originally posted by NewbieNat
    Hi,

    I got the exact same letter from Barclays for my overdraft too. I didn't worry about it. I filed it away in the knowledge that this is just part of the DMP process .If it wasn't for the DMP they would definitely be charging interest.
    Last edited by EmergencyNurse; 17-04-2018 at 8:21 PM.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • NewbieNat
    • By NewbieNat 17th Apr 18, 8:32 PM
    • 53 Posts
    • 29 Thanks
    NewbieNat
    Make a cup of tea, sit down, relax and..... smile

    Everything on track in your DMPland
    Originally posted by January2015
    Thanks January - that's just what I was hoping to hear
    • NewbieNat
    • By NewbieNat 17th Apr 18, 8:37 PM
    • 53 Posts
    • 29 Thanks
    NewbieNat
    Hi,

    I got the exact same letter from Barclays for my overdraft too. I didn't worry about it. I filed it away in the knowledge that this is just part of the DMP process .If it wasn't for the DMP they would definitely be charging interest.
    Originally posted by EmergencyNurse
    Thank you EmergencyNurse. It's now filed away in my shiny new briefcase-type filing system. It reminds me of the ones that bankers carry
    • EmergencyNurse
    • By EmergencyNurse 17th Apr 18, 8:47 PM
    • 71 Posts
    • 154 Thanks
    EmergencyNurse
    Thank you EmergencyNurse. It's now filed away in my shiny new briefcase-type filing system. It reminds me of the ones that bankers carry
    Originally posted by NewbieNat
    Hi NewbieNat, do you feel like a weight has been lifted off your shoulders? I do. Its like i'm debt free already!!
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • NewbieNat
    • By NewbieNat 17th Apr 18, 9:18 PM
    • 53 Posts
    • 29 Thanks
    NewbieNat
    Hi NewbieNat, do you feel like a weight has been lifted off your shoulders? I do. Its like i'm debt free already!!
    Originally posted by EmergencyNurse
    Hi, yes I do feel that way already too I started to relax a little when my new bank account was set up and my wages were paid in. I trust my payroll chappie implicitly,but had to see it with my own eyes
    • Onebrokelady
    • By Onebrokelady 17th Apr 18, 10:05 PM
    • 341 Posts
    • 933 Thanks
    Onebrokelady
    Hi,
    I havent posted here in a long time, but read it regularly for advice and reassurance. Ive been on my plan now for 4 years, started as a low start plan as I could only pay £100 per month on my dmp... but still havent been able to increase my payments, and feel like Im never going to get my debt paid off!! I still really struggle every month and regularly wonder if Im doing something wrong with my money. Everyone around seems to be moving house, buying new cars, jetting off on holiday... and I can just about pay my dds each month and feed the family!!

    I work part time and earn just over £15k and my husband earns over £22k, so I have never felt that we have a really low income... (I know we arentt about to hit any millionaires club soon!) but at the same time struggle to see how so many people can do so much more with their money... which is why I sometimes feel like Ive got it all wrong somewhere.

    On the plus side, although we have struggled each month, we do manage to just get by with no further debt, which is good. But that is with no car changes, no decorating to the house, no holidays etc etc and complete panic if the fridge stops working as we never seem to get an emergency fund built up!

    Sometimes I wander if we should have just sold our house at the beginning before starting a dmp and started from scratch?
    So many things I suppose in hindsight I could have done to prevent myself getting into the mess in the first place!
    If anyone has any advice on how to better manage finances.. Id appreciate the help!
    Originally posted by AnnM48
    If you look closely you would probably find that most of the people who seem to be buying new cars and going on holiday are using credit and are in debt,obviously some people manage to save for these things but since I've been in debt I've been surprised by how many people who I thought were well off admit to being in debt and using credit
    I came here and set up a debt free diary to keep track of my money,I posted an SOA to see where I could cut the budget,I have a DMP with Stepchange and I made sure at the beginning that my budget was realistic,I think if you are struggling maybe you need to keep a spending diary so you can track where your money is going the contact Stepchange with a revised budget
    I managed to start an emergency fund because I stopped paying my creditors for a month before I started my DMP and I'm lucky enough to have someone living with me temporarily who is paying me a small amount of rent so that's going into my emergancy fund,you could contact your creditors and tell them you are paying token payments for a few months and then save up an emergency fund,I'm not very experienced in money advice but these are the things I have tried and it's working well for me,I'm on £17,520 a year and my DMP payments are £134 a month, my debt is £17,128 at the moment so I'm not sure if your situation is similar to mine,good luck with it all and I hope you manage to sort things out
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £502 Debt Now = £17,128
    • Onebrokelady
    • By Onebrokelady 17th Apr 18, 10:09 PM
    • 341 Posts
    • 933 Thanks
    Onebrokelady
    Hi, yes I do feel that way already too I started to relax a little when my new bank account was set up and my wages were paid in. I trust my payroll chappie implicitly,but had to see it with my own eyes
    Originally posted by NewbieNat
    Im glad it's not just me,I phoned my payroll dept to make sure the bank had been changed and they assured me it had but I still worried until the day my wages went in
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £502 Debt Now = £17,128
    • Dandytf
    • By Dandytf 17th Apr 18, 10:52 PM
    • 1,149 Posts
    • 390 Thanks
    Dandytf
    I've decided to stay part time permanently since I had been considering returning to full time past few weeks.
    Thinking over new strategy for last few SC dmp years.
    Rather than increase SC payments from 80 per month
    I've since opened a helptosave account 50 per month
    Only then a few extra pounds to find over 24 months
    Thinking it could be possible to attempt clearing 4600 in 24 months
    Things change though and I'm certain financial challenges could continue meanwhile.
    The part payment advice if I try making reduced offers-still think this could make my credit rating poorer for more years -unless anyone can prove my thinking is wrong,
    status is a few defaults-1st of which since of my report a few weeks ago
    2-3 to drop off next year
    1 or2 until 2020 or 21.
    Is going the part payment offers going to add new part payment info for another 6 years -surely that's going to be more negative rating info.
    sc dmp 2012 13k
    Jan 2018 8840 paid. 60% approx.
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