DMP mutual support thread part 13 !!

LearningtoAdult · 8 January 2019 at 7:18AM

Has anyonr had issies with Lending Stream and getting them to issue a default. Ive been making. Dmp/token payments toqards my debts with them. Since jan 3016 and they are feusing to defailt and say the are doing things correctly, i have it recorded as a dmp on my credit file until Oct 2017 and since then i am showing as 6 months late payment every month.

Any tips for encouraging them to default? Everyone else has so its annoying that they wont.

Thanks

humblebee86 · 8 January 2019 at 2:07PM

NeverendingDMP wrote: »

Humblebee. Its not to bad going self managed. First thing though get all your amounts and reference numbers and who you owe money to from stepchange. Next decide what you want your budget to be/what you want to
offer everyone. Debtline has an online budget/formula to work it out for you if you want to use that. (Stepchange work it out in a completely different way.) Experiment with your budget a bit and make sure you include anything and everything. If you want to offer x for so many months just put that in the letter. I rang/emailed mine and wrote to hubbys. I just wrote that i am going self managed gave a copy of the new budget and said im offering x amount from now on and it will begin on such a date.
When i rang stepchange to cancel with them they were absolutely fine, checked i was okay and I had a plan and basically said good luck but the doors still open. Once you cancel you dont have access to the online info so a notepad with a page for each debt to record what youve done will help keep you organised.

Thank you for your advice! :T i have sent emails/ letters to all of my creditors indicating that i would be going SM, and that i will be offering token payments of £1/month for 6 months. Im a little nervous now, am expecting bailiffs at the door but i know realistically it wont happen (i hope!) Hoping to hear back soon.

Have a good day everyone :j

sourcrates · 8 January 2019 at 6:19PM

humblebee86 wrote: »

Im a little nervous now, am expecting bailiffs at the door but i know realistically it wont happen (i hope!) Hoping to hear back soon.

Have a good day everyone :j

Hi,

Please try to keep a sense of realism here, there is a long legal process to go through before a bailiff can be knocking on your door, a CCJ has to be granted against you first, you then have to default on those payments, only then can a bailiff even be considered.

You are a million miles away from that.

lulabelle01 · 8 January 2019 at 9:55PM

I’ve not made any payments to my cards since September/October. I sent letters and offers for monthly payments which have been accepted and both companies I’m dealing with have said they’ll default me but it hasn’t happened yet. I’m in a position now to start making payments but am I best to hold off until the defaults have been issued or should I start making payments now?

HonestS · 9 January 2019 at 2:00AM

Hi I’m a newbie and have been reading lots on here today. This thread is fascinating and a wealth of knowledge. Thank you, I already feel calmer.

I’m starting a DMP and will self manage so am sure I’ll be asking lots of questions in the coming months. I was advised to use the first 3-6 months of frozen accounts to build an emergency fund but was wondering how you get them to freeze the accounts for 3-6 months? I mostly see people say that they’ll be frozen for 30 days.

I’ve cancelled all my creditor DDs which feels like a first step and I’ll be sending out my first round of letters in the next few days using NEDCAB and adding the reference. If I could get a few months to build an emergency fund I really could relax as I’d be able to get a comfortable amount.

Thanks in advance

paperstars · 9 January 2019 at 9:54AM

Hi all, me again.

I'm quite scared with the information that I have just received. I recently contacted my DMP, PayPlan regarding a pay day loan that I honestly cannot for the life of me remember taking out. I asked them if this is something they can put onto my plan. What I got back frightened me.
"Keep in mind that taking further credit while on a DMP can be considered financial fraud. Plus adding a new account to the plan will decrease the offers of repayment to the previous creditors and they might not be happy."
I haven't told them but I have got PayPal credit just before Christmas which I have used for Christmas presents and other various items. I honestly didn't even think PayPal would allow me to have such a credit limit but they did and it ran away with me like everything else has done. Feel awful this morning!

humblebee86 · 9 January 2019 at 10:12AM

Paperstars, this happened to my husband during his dmp. This was with stepchange, he wanted to add a debt to his dmp so he called them and said he thought he could manage it on his own but he can’t and would like to add it, step change we’re fine with him and he hasn’t encountered any problems with his creditors. Hope this helps? I’m sure someone else will be along soon &#55357;&#56397;

usedtobeblue · 9 January 2019 at 12:38PM

usedtobeblue wrote: »

Im sorry for all these questions but i want to help my hubby as best i can before he starts.
He has a credit card with 0 balance at the minute, would it make sense to keep this open or just close it?
Also he has a credit card with approx £5k remaining balance, would it be best to use this now to change our car (our car is on its last legs) and then for him to go into his dmp, or will the credit card refuse as hes going to rack up more debts prior to starting?
i just want to do whats best for us. Im already in a dmp so getting a car loan is going to be out of the question for the foreseable future (i have approx 5/6 years left) My husbands dmp will be in and around the same length of time. Thanks in advance.

Please can anyone help advise?

paperstars · 9 January 2019 at 12:45PM

humblebee86 wrote: »

Paperstars, this happened to my husband during his dmp. This was with stepchange, he wanted to add a debt to his dmp so he called them and said he thought he could manage it on his own but he can’t and would like to add it, step change we’re fine with him and he hasn’t encountered any problems with his creditors. Hope this helps? I’m sure someone else will be along soon ��

thank you - it's only that PayPlan put this in writing via an email that made me quite concerned

System · 9 January 2019 at 1:57PM

Wasn't sure where to ask this, but I know this isn't the correct thread, so apologies in advance.:eek:... Has anybody ever changed their username on here? Thinking of signing up again under a different name as I have a feeling a family member may join the boards and realise that my name is easily identifiable to family members. :eek:
If I do that, how easy is it and I imagine that all my old posts will still be there. Although I can obviously change my signature to delete my debt etc.
Obviously this means starting again with a new diary, but think that might be a good idea as I have started posting more regularly now.
Is it possible to delete the old diary? Or even my old posts? I am not very good at this sort of thing.
Please could a moderator move this post to the correct place if this is causing a problem being on this thread. Thanks:)

DMP mutual support thread part 13 !!

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