DMP Mutual Support Thread - Part 12

Suseka97 · 2 January 2018 at 3:39PM

... oh, I should add to the 'toothless remark' about creditors / DCAs - which is true, but only up to the point they consider court action. So don't ignore those letters and if you are unlucky enough to get one of those (warning before action type letters) just send an I&E and offer of payment. That pretty much shuts them up

Dorastar · 2 January 2018 at 10:24PM

Stepchange process gone through with advisor and sending out letters soon as there's nothing to even pay an official DMP with for now. Got to sit it out for now and carry on with the job searching and fingers crossed something turns up asap.
Bank account meeting on Thursday to set up a shiny new account - with nothing in it lol

wannabedebtfreetoo · 3 January 2018 at 12:15PM

Hi,

I have recently set up a dmp with SC - I have began with my first payment and received default notices from some of my creditors. I am very nervous that I will have bailiffs knocking on my door and creditors not accepting what I offer.

Can anyone put my mind at rest?!

zenshi · 3 January 2018 at 1:03PM

Bailiffs will only arrive after you get a CCJ and ignore it!

You are paying your creditors via the DMP. Even if they don’t like it or say they won’t accept it, keep paying them. They will agree in the end

2017spark · 3 January 2018 at 3:42PM

Hello all - quick update from me

In November I ended my plan with SC and went self managed. I offered £1 token payments to all creditors for 6 months and most accepted - surprisingly easily!
I've just completed my DMP with NEDCAB and am posting the offer letters to all tomorrow - with payments starting end May - to stick with token payments for 6 months
NEDCAB have recommended £152 split between all creditors - SC was £344!! So already I can see a huge improvement

I'm going to start saving what I can now my budget is more realistic and offer settlements as I can - and also snowballing (paying any available leftovers to smallest to clear - and then next smallest - and so on....) even a couple of pounds each month will make a difference! This is something I couldn't do with SC.
Still a huge way to go (12 creditors, owe £22.5k) but its looking more positive!!
Thanks all for the suggestions and support

xx

100kdeep · 3 January 2018 at 5:27PM

Hi all
i have been with step change since august. i pay £500 a month (i was paying £2000 before i entered dmp land).
all my creditors have frozen interest and issued default notices (including barclays). all running smoothley. i was worried that they wouldnt play ball but they are.
i have 10 creditors so definitely less hassle to pay one payment to step change then let them dish it out.
it would take me 20 years to pay off at the current rate but obviously the plan is to be saving for full and finals while i keep them at bay. (i have slipped up and booked a holiday to Florida with the pot id managed to save. whoops) .
now that they have started to pass debts on and all have frozen interest i think its time to lower what i pay them (my wife can no longer contribute what she did as her costs have gone up or summit like that). i dont really want to self manage (cause im lazy) but is it just a case of telling step change that the income on MY dmp has gone down because of wife not contributing as much. or do you think they would want to see proof of this and do a full i and e?

obviousley now wanting to think more about the saving full and finals rather than chipping at the total and want to avoid self managed as long as possible

kram · 3 January 2018 at 10:45PM

2017spark wrote: »

Hello all - quick update from me
In November I ended my plan with SC and went self managed. I offered £1 token payments to all creditors for 6 months and most accepted - surprisingly easily!
I've just completed my DMP with NEDCAB and am posting the offer letters to all tomorrow - with payments starting end May - to stick with token payments for 6 months
NEDCAB have recommended £152 split between all creditors - SC was £344!! So already I can see a huge improvement
I'm going to start saving what I can now my budget is more realistic and offer settlements as I can - and also snowballing (paying any available leftovers to smallest to clear - and then next smallest - and so on....) even a couple of pounds each month will make a difference! This is something I couldn't do with SC.
Still a huge way to go (12 creditors, owe £22.5k) but its looking more positive!!
Thanks all for the suggestions and support

xx

Well done, it's great to hear you doing so well going self managed.: :j

K

January2015 · 4 January 2018 at 5:32PM

Hi everyone :wave:

My new year's resolution is to visit this site everyday

This site keeps me so focused on pushing down my debts. I haven't let the debt busting slip too much, but have to admit it's not been my main focus of late (family takes priority).

So day 1 of new year's resolution sorted. I've visited and said hello :wave:

I've also just prepared an updated I&E to send off to creditors before they start asking for one.

We've now cleared approx 52% of our debts - which feels amazing. Yes, we still have a big amount to clear - just over £45k. This will look massive to many, but to us it is just amazing. Three years ago we were heading towards being £100k in unsecured debts. I never dreamt we would be anywhere near our current balances just 3 short years later. And it really is 3 short years. Those years have just flown by.

Happy new year everyone

Dorastar · 4 January 2018 at 6:31PM

That's amazing, gives me hope that we can clear our £20k once I've got a job that is!

kram · 4 January 2018 at 7:01PM

Hi january2015,

Great to see you back on the forum. :j

Amazing how much you have cleared off your debts.

I am going to read through your diary to pick up some tips / ideas. :j

Wishing you & everyone on the forum a peaceful new year.

K

DMP Mutual Support Thread - Part 12

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