DMP Mutual Support Thread - Part 12

Amandadwi wrote: »

Have got the dmp down to 9yeaes 3 months but is still suggesting Iva as first choice! Help!

Hi and welcome to the board, you've made great progress in just the time you've been posting on here, well done.
Just wanted to add that it's perfectly acceptable to start a DMP and then move to a DRO or IVA, although not oossible to go from IVA to DMP, so if you are not sure, but feel you need to do something, I'd recommend starting the DMP and looking at IVA again in a few months.

Also to remember that IVA managers receive a payment, so are not impartial.

Saz

Hi all

Just spent a whole hour on the phone to Halifax. I had the strength to speak to them directly and challenge the £500 + interest they added on my account.
Lots of going backwards and forwards, the lady saying they hadn't received payment by the 7th April and the payment plan has had to be reset starting in May :eek:

I quickly reminded them that I have letters dated the 12th April thanking me for my payments in line with the payment plan etc. I then said I would like to escalate this to a manager (get me)

I reminded them about my situation and how they were making things worse and so on.

An hour later and :j All interest refunded and payment plan still up and running with the assurance that ALL interest and charges stopped from now on :j

3 months ago I wouldn't have even had the balls to answer the phone to them let alone actually ringing them myself and challenging them.

Thankyou to all who have given me the strength to do things like this. I actually feel quite proud of myself
M

Bepop wrote: »

Hi motivated..well done you, without the wise words and support of this group, I don't know if I'd have got as far as I have. I'm so glad you got the strength to challenge your creditor, great result. I'm hoping for a wee bit of advice this morning from my earlier post. Hopefully will get a reply ASAP. Well done again x

Hi Bepop
I too wouldn't have ever had the courage to do things like this if it wasn't the amazing people on here. As for your questions I am still very much a newbie when it comes to DMPs. Although I don't think it matters how many creditors you have SC will organise things for you. Someone will definitely be along and be able to steer you in the right direction though.
Well done for finding the strength to send your letters off and try not to worry about the process and being anxious is just part of the getting started bit. I was like you also but just 3 months in an already my stress levels are very low. I wondered whether I did the right thing too, now its the best thing I ever did and should have done it a long time ago.

Our DMP was up and running in a very short space of time and so far (apart from Halifax but sorted now) all of our creditors have been absolutely fine.
M

carbootcrazy wrote: »

You certainly should feel proud:T. Many congratulations on a job well done:j:beer:

I don't know where this new me has come from
M

Bepop wrote: »

.... I wrote to two of my store card creditors..now thinking should I have paid them both off and closed the account? I could have transferred money from my overdraft? This would have meant I still owed the same amount (although instead of it being on two store cards) it would be on my overdraft. Would this have made more sense, which would have meant less two creditors? Is it too late now to do transfer from OD today and make payments to both store cards? Thank you for your help x

As Sourcrates has already said - it really doesn't matter in the long run. You've not arranged the DMP as yet, have you - so you have time to do what works best for you. At the end of the day if you would feel better having fewer creditors overall, then go for it.

I started off with 14 of them and a couple of them never even put AP or AR or any other marker on my file. They just stopped interest -but they were the ones who I owed the least to and I guess they weren't that bothered. If I could have reduced the number of creditors I might have considered it - but at the end of the day the defaults will drop off your file regardless in 6 years, so it doesn't matter much. The only time it will is if it takes longer to get the much welcomed default (for example for me Halifax delayed it for a year - little *****).