DMP mutual support thread part 13 !!

24567…526

Comments

  • jbkmum
    jbkmum Posts: 293 Forumite
    First Anniversary Name Dropper First Post
    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"
    £5000 left to pay on credit cards, down from 40k!!
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
    First Anniversary Name Dropper First Post Photogenic
    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:
  • sourcrates
    sourcrates Posts: 28,848 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    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 Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Suseka97
    Suseka97 Posts: 1,562 Forumite
    First Anniversary First Post Name Dropper
    NeverendingDMP wrote: »
    ......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.
  • icklemissus
    icklemissus Posts: 16 Forumite
    First Post First Anniversary Combo Breaker
    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!
  • jubilee14
    jubilee14 Posts: 331 Forumite
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    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:
  • sillybilly1983
    sillybilly1983 Posts: 24 Forumite
    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?
  • NeverendingDMP
    NeverendingDMP Posts: 1,737 Forumite
    First Anniversary First Post Name Dropper
    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.
    Jan 18 Joint debts 35,213 - March 24 16.6k
    Mortgage Jan 18- 77224 Dec 23- just under 69k
  • andythe_cab
    andythe_cab Posts: 8 Forumite
    First Post First Anniversary Combo Breaker
    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?
  • kram
    kram Posts: 136 Forumite
    sillybilly1983 wrote: »
    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. ;)
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards