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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 14,368Posts
    • 13,552Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

    If you are in a DMP or thinking of one, this is the place to be. We are non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
Page 166
    • Dandytf
    • By Dandytf 12th Mar 18, 12:53 PM
    • 1,283 Posts
    • 411 Thanks
    Dandytf
    Playing with the o/s sc dmp balance today.
    As my recently mentioned return to full time trial begins tomorrow.
    I since called sc today and all going well could consider raising my payments to what they were until 2017 when I went part time.
    This full time opportunity could take a few years from my plan finish time.
    A suggestion was made from their advisor 160 per month -plan complete 2yrs approx.
    Whilst I can!!!8217;t yet commit to this suggestion, I have been re assured that if I return to full time in a few weeks then I!!!8217;ll call sc and ask this change in payments is implemented.
    Thanks mser!!!8217;s whilst we haven!!!8217;t always agreed the advice from this site is invaluable/
    sc dmp 2012 13k
    Jan 2018 8840 paid. 60% approx.
    • NewbieNat
    • By NewbieNat 12th Mar 18, 5:36 PM
    • 57 Posts
    • 33 Thanks
    NewbieNat
    Credit card company
    Hi

    All my creditors - apart from one have agreed to the 30 day breathing space. One will not do so until I provide them with my SC reference. So the charges are increasing my debt. I have messaged them & said I need more time & will make token payments until I am ready to start with SC. I'm interested to know if anyone else has experienced refusal to put a hold on a CC account until SC reference has been given. Hopefully it will go to a DC after 3 months, but am aware this might not happen!
    • Anniee88
    • By Anniee88 12th Mar 18, 6:09 PM
    • 81 Posts
    • 158 Thanks
    Anniee88
    Need to vent. Was looking postitive this month, its the first month weve properly put money back towards our debts (£300) not much but a start with hopefully more to contribute next month. Anyway, my husband got a letter through the post at his dads house (still hasnt changed the address on his vo5 or whatever document it is you need to do) so missed a letter from the council saying he has not paid a parking fine and its now at £75 and if he doesnt pay within 14 days then he could get CCj or bailiffs... this was sent 16th Feb and hes only just got the letter from his dad.

    He said he forgot about the parking fine, I remember discussing t once and I said just pay it now so you dont forget and he said yes so I thought that was the end of it. I feel like Im talking to a brick wall, is he seriously thick. Its one thing to hide all of his debt for the last 5 years and Ive forgiven him about that but now hes made another mistake that would have been so easy to rectify so god knows how much that will cost us now. Im so angry. What is he going to do next to make us financially worse off. Meh.
    Last edited by Anniee88; 12-03-2018 at 6:11 PM.
    2018 determined to drive down this debt
    • Daisypop
    • By Daisypop 12th Mar 18, 6:15 PM
    • 63 Posts
    • 114 Thanks
    Daisypop
    Hi all
    Just wondered if anyone could help with my query. Would Arrow global have bought my debt from
    shop direct or would they have just managed it.
    Trying to get it defaulted as it never has been otherwise means it is on my file until 2021 when the rest drop off this year
    Thanks again
    • sourcrates
    • By sourcrates 12th Mar 18, 7:13 PM
    • 14,368 Posts
    • 13,552 Thanks
    sourcrates
    Hi all
    Just wondered if anyone could help with my query. Would Arrow global have bought my debt from
    shop direct or would they have just managed it.
    Trying to get it defaulted as it never has been otherwise means it is on my file until 2021 when the rest drop off this year
    Thanks again
    Originally posted by Daisypop
    Arrow Global are debt purchasers.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Summer12
    • By Summer12 12th Mar 18, 8:49 PM
    • 83 Posts
    • 41 Thanks
    Summer12
    Hi

    All my creditors - apart from one have agreed to the 30 day breathing space. One will not do so until I provide them with my SC reference. So the charges are increasing my debt. I have messaged them & said I need more time & will make token payments until I am ready to start with SC. I'm interested to know if anyone else has experienced refusal to put a hold on a CC account until SC reference has been given. Hopefully it will go to a DC after 3 months, but am aware this might not happen!
    Originally posted by NewbieNat
    Thatís interesting as I wonít have a sc ref as going self managed from the start so none of mine will get one! Do you mind me asking which one is it? Just so Iím forewarned! I would like to think as all the others have given you 30 days space that it looks very poorly on this one particular creditor and whilst I believe they donít have to youíd have good cause for a complaint to FOS, but perhaps start with a complaint to the creditor stating everyone else has given you some breathing space. I think some use it as risk mitigation, pile on the interest as they know at some point down the line you will probably settle the debt with a part & final offer so the more they raise it now with interest the closer the final settlement will be to the original owed amount. If you see what I mean.:
    • Daisypop
    • By Daisypop 12th Mar 18, 8:58 PM
    • 63 Posts
    • 114 Thanks
    Daisypop
    Arrow Global are debt purchasers.
    Originally posted by sourcrates
    Thanks sourcrates so I should have been defaulted by Shop direct and would that show on my credit report as arrow global but defaulted? And do I contact shop direct or arrow to get it changed? Sorry for all the questions
    Last edited by Daisypop; 12-03-2018 at 9:03 PM.
    • NewbieNat
    • By NewbieNat 12th Mar 18, 9:22 PM
    • 57 Posts
    • 33 Thanks
    NewbieNat
    Thatís interesting as I wonít have a sc ref as going self managed from the start so none of mine will get one! Do you mind me asking which one is it? Just so Iím forewarned! I would like to think as all the others have given you 30 days space that it looks very poorly on this one particular creditor and whilst I believe they donít have to youíd have good cause for a complaint to FOS, but perhaps start with a complaint to the creditor stating everyone else has given you some breathing space. I think some use it as risk mitigation, pile on the interest as they know at some point down the line you will probably settle the debt with a part & final offer so the more they raise it now with interest the closer the final settlement will be to the original owed amount. If you see what I mean.:
    Originally posted by Summer12
    Hi Summer
    Yes I see what you mean. I await with interest what they reply to of my offer of token payments, I bet they say no to that. It's just mind boggling knowing what I have a right to do. Also what they can dictate. A CCJ is my worst fear. I would prefer to go self managed, but with 8 creditors I think I'd struggle. Good Luck with yours
    • sourcrates
    • By sourcrates 12th Mar 18, 9:33 PM
    • 14,368 Posts
    • 13,552 Thanks
    sourcrates
    Thanks sourcrates so I should have been defaulted by Shop direct and would that show on my credit report as arrow global but defaulted? And do I contact shop direct or arrow to get it changed? Sorry for all the questions
    Originally posted by Daisypop
    Itís getting more common for non defaulted debts to be sold, this is a new phenomenon on me, the FOS have come down on the side of the creditor so far, even National debtline are confused about it, from what I understand, debts must default before sale, apparently that is not always the case.

    Of course you can challenge this, the original creditor would be the one to complain to.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • January2015
    • By January2015 12th Mar 18, 10:16 PM
    • 2,095 Posts
    • 5,188 Thanks
    January2015
    Thatís interesting as I wonít have a sc ref as going self managed from the start so none of mine will get one!
    Originally posted by Summer12
    When I went self managed, creditors asked me for a reference number. I generated one using the NEDCAB DMP website - I am self managing but creditors don't seem to know that NEDCAB DMP is for those of us self managing. The site generates a reference number - and that shut up all of my creditors
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    [COLOR=Blue][SIZE=2]
    • sourcrates
    • By sourcrates 12th Mar 18, 11:41 PM
    • 14,368 Posts
    • 13,552 Thanks
    sourcrates
    When I went self managed, creditors asked me for a reference number. I generated one using the NEDCAB DMP website - I am self managing but creditors don't seem to know that NEDCAB DMP is for those of us self managing. The site generates a reference number - and that shut up all of my creditors
    Originally posted by January2015
    At present anyone can run a DMP, there are no real rules to follow.

    Hence why a lot of DMCs take advantage of this.

    Well big changes to DMPs are on the cards, a proposal currently going through parliament would see a 6 week (possibly longer) breathing space and a government backed DMP scheme which would be flexible but more importantly put into law, so interest, charges etc, would be stopped from day one.

    This would bring the scheme into line with other available debt solutions that are currently subject to regulation, and would more than likely see the end of fly by night DMCs who currently charge for this service.

    Im please to say I again took part in this consultation so fingers crossed.

    Details are on the StepChange website, and here :

    https://www.gov.uk/government/consultations/breathing-space-call-for-evidence
    Last edited by sourcrates; 12-03-2018 at 11:46 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Wantingtojustlive
    • By Wantingtojustlive 12th Mar 18, 11:46 PM
    • 6 Posts
    • 1 Thanks
    Wantingtojustlive
    Hi have been reading through some threads, is there anywhere that has what the abbreviations stand for, so that I can refere to them, and how do I follow someone who is at the same stage as me, and get on this journey, I'm doing a self manage plan, have asked for breathing space and now need to write letters with a payment plan, next step need to get on with it, just a question we have a M&s credit card, but I want to open a bank account with hsbc will my money be safe or can M&s take this, just when I rand hsbc today they could not find my application and then said about having an M&s account and they found me through that, but I did not know that they were connected, should I still continue for an account to bank with them or too risky? Many thanks
    • sourcrates
    • By sourcrates 12th Mar 18, 11:50 PM
    • 14,368 Posts
    • 13,552 Thanks
    sourcrates
    Hi have been reading through some threads, is there anywhere that has what the abbreviations stand for, so that I can refere to them, and how do I follow someone who is at the same stage as me, and get on this journey, I'm doing a self manage plan, have asked for breathing space and now need to write letters with a payment plan, next step need to get on with it, just a question we have a M&s credit card, but I want to open a bank account with hsbc will my money be safe or can M&s take this, just when I rand hsbc today they could not find my application and then said about having an M&s account and they found me through that, but I did not know that they were connected, should I still continue for an account to bank with them or too risky? Many thanks
    Originally posted by Wantingtojustlive
    I am afraid to say M&S bank are a part of the HSBC group yes.

    You need to find an unconnected bank to open an account with.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Wantingtojustlive
    • By Wantingtojustlive 12th Mar 18, 11:56 PM
    • 6 Posts
    • 1 Thanks
    Wantingtojustlive
    Ok will look at another then thank you
    • January2015
    • By January2015 13th Mar 18, 7:38 AM
    • 2,095 Posts
    • 5,188 Thanks
    January2015
    Hi have been reading through some threads, is there anywhere that has what the abbreviations stand for, so that I can refere to them,
    Originally posted by Wantingtojustlive
    There is a sticky post at the top of the main DFW forum - within that is a DFW dictionary.

    You can't follow a particular person within the Mutual Support Forum, you just have to follow the whole thread. However, if any of them start a diary you could follow that by subscribing to their diary thread.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    [COLOR=Blue][SIZE=2]
    • ploppy57
    • By ploppy57 13th Mar 18, 8:20 AM
    • 723 Posts
    • 4,656 Thanks
    ploppy57
    Hi Summer
    Yes I see what you mean. I await with interest what they reply to of my offer of token payments, I bet they say no to that. It's just mind boggling knowing what I have a right to do. Also what they can dictate. A CCJ is my worst fear. I would prefer to go self managed, but with 8 creditors I think I'd struggle. Good Luck with yours
    Originally posted by NewbieNat
    We have just gone SM and we have 16 different debts spread over 7 DCA's. Once you have sent off the original letters and set up the SO's it is plain sailing. I got OH to make me a spread sheet as I am rubbish at that sort of thing, and I update it every month to keep track of what we owe etc.
    Also , remember they can only have what you can afford....they cannot dictate.,.. You are in control of your own DMP. That is something that took me a while to get my head round....but now I realise it, DMP is going brilliantly.
    DMP March '15 £57,549. Now £44,226. 23% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... £1000.
    Christmas '18 challenge... £22 /£300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • Summer12
    • By Summer12 13th Mar 18, 10:44 AM
    • 83 Posts
    • 41 Thanks
    Summer12
    When I went self managed, creditors asked me for a reference number. I generated one using the NEDCAB DMP website - I am self managing but creditors don't seem to know that NEDCAB DMP is for those of us self managing. The site generates a reference number - and that shut up all of my creditors
    Originally posted by January2015
    Thank you January! Thatís great to know x
    • Summer12
    • By Summer12 13th Mar 18, 10:50 AM
    • 83 Posts
    • 41 Thanks
    Summer12
    At present anyone can run a DMP, there are no real rules to follow.

    Hence why a lot of DMCs take advantage of this.

    Well big changes to DMPs are on the cards, a proposal currently going through parliament would see a 6 week (possibly longer) breathing space and a government backed DMP scheme which would be flexible but more importantly put into law, so interest, charges etc, would be stopped from day one.

    This would bring the scheme into line with other available debt solutions that are currently subject to regulation, and would more than likely see the end of fly by night DMCs who currently charge for this service.

    Im please to say I again took part in this consultation so fingers crossed.

    Details are on the StepChange website, and here :

    https://www.gov.uk/government/consultations/breathing-space-call-for-evidence
    Originally posted by sourcrates
    Sounds like there are a lot of positive changes potentially coming soon. Also in September with the new rules for credit cards and people who can only make the minimum repayments. About time really. As you say fingers crossed.
    • January2015
    • By January2015 13th Mar 18, 3:53 PM
    • 2,095 Posts
    • 5,188 Thanks
    January2015
    Afternoon everyone

    So, today I found out I am being made redundant at the end of this month. Well, being honest I found out I was on the 'hit list' early in December, but there was always the potential that another vacancy would arise that I could be slotted into..... clearly that hasn't happened, so redundancy it is.

    I will get a tax free lump sum of redundancy money (maximum allowed by the government because my employer doesn't give more than that ). I'm not offering that to creditors just yet because I need to know I have a safety net should I not be able to find alternative employment. The redundancy money will cover us for between 18 and 24 months based on our current priority expenditure - of course that may change if mortgage interest rate goes up.

    I will also get a few days annual leave paid to me with my final month's salary.

    Before DMP days I would have been in pieces with worry. Our finances will be extremely tight - even token payments will be a struggle - but at least I know we are budgeting well and we can scrape through for at least a couple of years - but hopefully a job will come along and then the redundancy money will feel like a windfall I can put towards my F&F offers or reducing the secured loan balance

    I am so unconcerned by this - is this normal
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    [COLOR=Blue][SIZE=2]
    • NewbieNat
    • By NewbieNat 13th Mar 18, 6:36 PM
    • 57 Posts
    • 33 Thanks
    NewbieNat
    No Contact
    I sent an email to a company I have a personal loan with, advising them of my financial difficulties. I did the usual, asking for a 30 day hold. This was about 2 weeks ago. They have not replied at all. They certainly received it! I went to send a secure message & see that all of my usual info such as payments made/date have all vanished from my online account. As had the ability to send a secure message. Is this unusual?
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