Starting a DMP- really scared

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  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    You're paying through stepchange (well done) so Everyday will get their share of £100 this month.

    You are not required to evidence anything to them.

    £466 per month clears your debts in 3-4 years. That's completely reasonable and a good strategy for you as long as it stays affordable.
  • leighavfc
    leighavfc Posts: 266 Forumite
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    Hi Rebecca

    First of all DON'T be scared. This is the first thing i learnt when i was in your position. I also panicked myself silly in the first few weeks after opening my DMP but after everything was set up with Step change, the phone calls and all that stopped. This helped me relax and focus on sorting myself out.

    I also had a loan with Everyday loans which went on to my DMP, and they were absolutely fine about it tbh. They didnt stop interest but once Step Change took over they were fine, mind if you miss a dmp payment they are on ringing you within the hour! Dont worry though and tell them to liase with Step Change if this happens. What really helped me was i built up a relationship with the bloke who dealt with my account and we had a laugh when we spoke etc.

    In my experience they were ok to deal with and didnt cause any problems, ok they charged interest but they are within their right to do that unfortunately.

    Hope you feel better about it all, and believe me you have come to the right place for anything related to debt etc. I learnt everything i now know off here!!!
    DEBT FREE AS OF 28/6/17 :j:beer:
  • Rebeccadougherty
    Rebeccadougherty Posts: 47 Forumite
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    Hi thanks for the reply! It's so good to see someone else has dealt with them as nobody else seems to?? Did you miss any payments? What happened? I only intended to reduce this one payment and obviously it will delay my finish date by a month or so but to me it is worth it to have built up that tiny emergency fund. Thanks! :)
  • leighavfc
    leighavfc Posts: 266 Forumite
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    Rebeccadougherty wrote: »
    Hi thanks for the reply! It's so good to see someone else has dealt with them as nobody else seems to?? Did you miss any payments? What happened? I only intended to reduce this one payment and obviously it will delay my finish date by a month or so but to me it is worth it to have built up that tiny emergency fund. Thanks! :)

    Hi Rebecca

    Yes i missed one payment the once (which was due to me having no money and waiting for my DMP to be set up). They opened at 9am, by about 9.03 am i had a phone call at work and on my mobile. I then told them i was about to go on a DMP and that SC were dealing with my credit accounts, they were like ok fine we will await to hear from SC. Another time i had to make a token payment of £1 as i didnt have enough to cover my DMP payment, they phoned me a bit later on in the month and advised me i needed to pay £18 extra to meet the payment SC would make to them each month. I said i dont have the money to do this and you need to speak to SC about this as they are dealing with my account. They were also fine with this, so dont worry too much.

    Dont quote me on this but i am sure there are template letters about which you can send to creditors telling them you only wish them to liase with SC/ your dmp provider.

    Everyday loans were one of the easier companys to deal with in my experience, in my case though i got a lot of help from the bloke who was looking after my account, and on a few occassions he bent the rules for me slightly to give me extra time to pay if i was struggling so that helped!!!

    Which branch of Everyday Loans are you with out of interest ?
    DEBT FREE AS OF 28/6/17 :j:beer:
  • Rebeccadougherty
    Rebeccadougherty Posts: 47 Forumite
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    Thanks all feeling a bit better. I've also had three defaults, one of which is my Barclay card who I've heard can be difficult. Defaults are, I've read, good, so that's positive I guess aha x
  • Rebeccadougherty
    Rebeccadougherty Posts: 47 Forumite
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    Hi again :)
    The Ipswich branch. The woman I spoke to was all like but you've only made two DMP payments we only just rejiggegd your payment to accommodate the new DMP payments when you began the DMP, can you not pay the extra? I just said if I could I wouldn't be lowering my payment this month would I? And she said I need to to send a copy of the vet bill. Obviously I can't because the reason I lowered this payment is to give myself a little emergency fund- my cats will need to see the vet at some point. Everyday loans have been the hardest to deal with. Also the interest is crazy, on a 5,500 loan I'm going to be paying them about 8,000 interest. So stupid of me to take that loan. I have nothing to show for it. I wish I could just find the 5,500 and pay them back plus the bit extra interest I guess I'd owe for up to now :( x
  • leighavfc
    leighavfc Posts: 266 Forumite
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    Rebeccadougherty wrote: »
    Hi again :)
    The Ipswich branch. The woman I spoke to was all like but you've only made two DMP payments we only just rejiggegd your payment to accommodate the new DMP payments when you began the DMP, can you not pay the extra? I just said if I could I wouldn't be lowering my payment this month would I? And she said I need to to send a copy of the vet bill. Obviously I can't because the reason I lowered this payment is to give myself a little emergency fund- my cats will need to see the vet at some point. Everyday loans have been the hardest to deal with. Also the interest is crazy, on a 5,500 loan I'm going to be paying them about 8,000 interest. So stupid of me to take that loan. I have nothing to show for it. I wish I could just find the 5,500 and pay them back plus the bit extra interest I guess I'd owe for up to now :( x

    Ok was just wondering if it was same branch.... but its definitely not with me being in Brum lol Well i had to rejig my DMP payment total a couple of times, started at 225 a month and reduced to 125 a month not long after and had no problems with them. I suppose it all comes down to the individual branch managers etc. Do not send them anything, they have no right to ask for this if i am correct. Just tell them in no uncertain terms that they need to speak to your DMP provider and put phone down. There is not much they can do other than liase with DMP provider as you are at the very least attempting to pay them off, just over a longer period and smaller payments, do they want that or no money at all was my question when the manager of the branch i dealt with tried to be difficult !!!!

    Who is you dmp with?

    Dont worry i made the same mistake with Everyday loans, although i will say they are responsible to an extent making you have a meeting to go through finances before they give you a loan. This i was impressed with compared to the payday loan companys etc.

    Chin up Rebecca, were all here with you :)
    DEBT FREE AS OF 28/6/17 :j:beer:
  • Rebeccadougherty
    Rebeccadougherty Posts: 47 Forumite
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    Hi again

    My DMP is through stepchange. They won't call creditors or anything for me though which I did think they would do. It's nice having them there though, they are amazing support and I'm glad I found them and took the plunge. I see you're now debt free?? That's amazing, how long was your DMP? Did you have to move house at all and get a new tenancy? Did you tell anyone? I'm worried about telling my boyfriend and anyone else, too ashamed of myself and what they'll think of me. Thank you so much :)
  • Guest101
    Guest101 Posts: 15,764 Forumite
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    A DMP is you taking ownership of your debts and paying them off. Nothing to be ashamed of, I'm on a DMP - apart from a recently discovered CCJ - which im paying separately as it cant go on a DMP - it's been fine.


    The funny thing is even the CCJ has accepted monthly payments - cant get blood out of a stone.
  • leighavfc
    leighavfc Posts: 266 Forumite
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    Good Step Change are probably the best provider to be with!!

    Well i would suggest you tell your creditors to ring SC if they being funny as they are in charge of your accounts now technically. I told them this in the early days whilst DMP was being set up and all my creditors soon stopped hassling me about stuff.

    Yes i finished my DMP yesterday funnily enough, massive weight off my shoulders i tell you. My dmp lasted for just under 4 years in total, i only owed about 11k. Yes i moved house during my DMP, although i only rent so wasnt much of a problem really. I did have a couple of questions asked when i was going through the process of moving, but i was straight with them and showed them all they asked for which worked out fine for me in the end. I only told my GF, i didnt dare tell my mom and dad tbh as my dad would have gone through the roof after all that he had taught me had gone out the window so to speak. I also had a lot of luck during the latter stages of my DMP, i recieved a unexpected PPI payout from Barclays for just shy of 3k. I also was given access to money which my nan left me when she passed away, with this i paid off the remaining balances of my debt and was still left with around 8k to save away towards a house deposit.

    Dont be ashamed at all, it can happen to anyone!! i was told off the record by someone at Everyday loans that they had several footballers on their books!!!!!!! Obviously no names were mentioned etc. Please at least tell someone about it for the moral support throughout it does help i promise!!!
    DEBT FREE AS OF 28/6/17 :j:beer:
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