DMP mutual support thread part 13 !!

11617192122524

Comments

  • Hello! Long time, no post.
    I still lurk around to see how you are all getting on.
    My DMP with Payplan is trundling along quite well now and has been for over a year.


    However, I now have to go-ahead to sort out the debts built up by my OH, following his diagnosis of BPD2 - he now understands why he has had such difficulty in managing his moods and consequential spending sprees - such as remortgaging the house to pay off debts but coming home with a brand new BMW X5. Not an excuse but now a reason to get our stuff in order once and for all.
    He has granted power of attorney to me and this has been accepted by most creditors EXCEPT Barclaycard - but that is another story . . .


    So, back to the title of this post - whilst I'm quite happy with the service from Payplan, is there any benefit in me using Step Change to manager OH's debt or would I be better off starting an plan with Payplan?


    Any constructive comments welcomed!


    Many thanks in advance - thank you.
    DMP launched 04/07/17 left to pay = £14,238.79 (£16,982.82 original debt.) Thanks to MSE & all you wonderful Forum Peeps!:T
  • sourcrates
    sourcrates Posts: 28,711
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    purplepaws wrote: »

    So, back to the title of this post - whilst I'm quite happy with the service from Pay-plan, is there any benefit in me using Step Change to manager Oh's debt or would I be better off starting an plan with Pay-plan?


    Any constructive comments welcomed!


    Many thanks in advance - thank you.


    Hi,


    Not much between them really, step-change is a debt charity, funded by contributions from the credit industry and from other commercial partners.


    Payplan is one of the largest commercial debt help organisations in the UK.
    They're able to offer free debt help to their clients because they are funded by contributions from the credit industry and from other commercial partners, much the same as step-change are.


    Service from both should be similar.
    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
  • DMP update. I sent letters to 4 creditors 2 weeks ago, Tesco Bank have replied by text to say they have placed the account on hold for 30 days which is good. Nothing from Capital One and MBNA although I've noticed that phone calls have stopped for a few days now so I'm assuming they've done the same. Perhaps letters are on their way.

    Pounds to Pocket contacted me by email this morning. They said they are in receipt of my email (which is incorrect as I sent them a letter) and that they need further information so my account status can be updated. They are requesting the Step Change reference number which I am certain I included on the letter (I will check when I get home from work tonight).

    I'm guessing that they are trying to get into a dialogue with me so if I didn't include the reference number on my letter, I will send another letter with this information and reiterate that I only want to be contacted by letter.

    My Nationwide account is up and running now, have let employers know so my salary goes in from this month. Cleared any remaining funds from Barclays (who I have an overdraft with) and will send them the holding letter on Monday. All DDs cancelled so will be setting up new ones on Monday in my new account.

    Getting there. My EF will be in place by end of next week, so will be contacting Step Change soon to start the DMP. I do think I could go self-managed as I've surprised myself how organised I've been but feel happier letting SC take the reigns initially and enable me to have some time to breath and get on top of things.

    Love the support on this thread, reading other people's posts has been really motivating.
    LBM: August 2018
    Self-managed DMP started: Jan 2019
    Original Debt Jan 2019: £22,469
    Current (Feb 2022) Debt: £16,482
  • purplepaws wrote: »


    So, back to the title of this post - whilst I'm quite happy with the service from Payplan, is there any benefit in me using Step Change to manager OH's debt or would I be better off starting an plan with Payplan?


    Any constructive comments welcomed!


    Many thanks in advance - thank you.

    Were you meaning would it be better to keep things totally separate and use a different company rather than the same one that's dealing with your DMP?
  • Hi all just a quick query and an update. All my letters have been sent and all accounts are now on hold. MBNA have so far been helpful and surprisingly after hearing other people's problems so have barclaycard. My total income did not match my breakdown in my I&E form as somehow I had taken off my partners income in the breakdown but included it in the total. Barclaycard wrote to me saying they do not expect me to pay more than I can afford and have put an extra 2 weeks hold on my accoun for me to review my offer. I shall just write back and explain my error and that my original offer still stands. Tesco Bank have been very quiet and put my account on hold but have barely bothered me at all. It is still very early days and i am sure it will become more stressful but I am now starting to feel more confident and assured that I have done the right thing in self managing my creditors. Part of the reason I went self managed was because I had to exclude one credit card from my DMP as I quite often have a lot of expenses to cover at work with fuel hotel bills etc. Stepchange and payplan did not seem to keen on this idea. My question is should I have mentioned this other card and the reason I am excluding it to my other creditors? I didn't mention it as I didn't see it to be necessary and was worried it may complicate things. I am just a little concerned that they may see my credit file and ask why I didn't include this. As always any advice would be much appreciated.
  • sourcrates
    sourcrates Posts: 28,711
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    My question is should I have mentioned this other card and the reason I am excluding it to my other creditors? I didn't mention it as I didn't see it to be necessary and was worried it may complicate things. I am just a little concerned that they may see my credit file and ask why I didn't include this. As always any advice would be much appreciated.


    No one else`s business but yours T To C.


    If they ask, you simply say its a priority payment, necessary for work purposes, wear as all the other unsecured debts are non priority payments.


    Keep it simple and concise.
    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
  • sourcrates wrote: »
    No one else`s business but yours T To C.


    If they ask, you simply say its a priority payment, necessary for work purposes, wear as all the other unsecured debts are non priority payments.


    Keep it simple and concise.

    Thanks Sourcrates I thought this was probably the case but just wanted to get a second opinion. I do have another question if someone could answer it. Will having defaults on my account mean I can no longer shop around to change energy suppliers or insurance company's etc? None of my priority bills are in arrears and are all up to date. Also I have just switched to a new fixed mortgage deal with the same company and they said credit/affordability checks wouldn't be necessary as I am only fixing to a new deal not changing anything. Is this a was the case or am i likely to struggle in 2 years time?
  • SpagBol
    SpagBol Posts: 1,371 Forumite
    Just popping in to say... I'm feeling very positive as we haven't borrowed a penny in a year! Our DMP started this time last year and we've paid back about £3k in that time with no interest/charges etc.


    A long way to go but feels good. I wish we'd started it sooner!!


    Keep going everyone!
    DMP started Oct '17: £79,974 :eek::eek::eek::eek::eek:
  • sourcrates
    sourcrates Posts: 28,711
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    Thanks Sourcrates I thought this was probably the case but just wanted to get a second opinion. I do have another question if someone could answer it. Will having defaults on my account mean I can no longer shop around to change energy suppliers or insurance company's etc? None of my priority bills are in arrears and are all up to date. Also I have just switched to a new fixed mortgage deal with the same company and they said credit/affordability checks wouldn't be necessary as I am only fixing to a new deal not changing anything. Is this a was the case or am i likely to struggle in 2 years time?


    Never had a problem myself, with any insurance product or utility provider, and i had a 6 year IVA.


    If you stay with the same mortgage provider you are usually not credit checked for fixing a new deal.
    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
  • Summer12
    Summer12 Posts: 103
    First Anniversary Combo Breaker First Post
    Forumite
    Barbie61 wrote: »
    Hi everyone, my DMP is going strong and I've just passed 18 months now with it - only 14 years to go unless things improve drastically. Anyway a couple of the debts have been sold and I've updated Stepchange who are absolutely amazing - they have helped me and my stress levels so much BUT - Next are charging interest again which is 1.5 times the monthly payment they are receiving. I spoke to them and they said the year 1 plan had ended and I had to speak to them and agree another plan but I didn't want to do this without consulting Stepchange who told me that with payments continuing to them that this shouldn't be necessary. They sent out a statement/budget pack to all the creditors again and advised me that this would do the trick, but three months on Next are still adding the interest. I just wondered if anyone else had this problem and what they did about it, obviously I can't agree to anything that will render the DMP null and void so I'm a little confused as to what to do next. This is the smallest amount I owe as well so I didn't expect it. Any help gratefully received, thank you.

    Hi
    I have a Next account which turned out to be unenforceable so I stopped paying them, within 4 months they defaulted it (therefore all interest & charges stopped). Now just get 1 letter a month chasing the debt. Good luck
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards