Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 14,560Posts
    • 13,703Thanks
    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 217
    • tillboy
    • By tillboy 12th Jul 18, 7:31 PM
    • 262 Posts
    • 131 Thanks
    tillboy
    Soooo....

    I am having difficulty with PayPal Credit, who donít seem to be interested in my DMP. Has anyone else had any experience with these while on a DMP? I contacted them back in May to inform them of my financial difficulties and that I had contacted StepChange however they havenít acknowledged any of this and still keep applying late payment fees to my account. Iíve contacted them again now my DMP is setup and just hoping Iíll get some acknowledgement of my arrangement
    Originally posted by OohSoHolly
    Iím in a similar predicament, Iíve written and emailed but basically had no response at all, my current plan it to keep ignoring their demand until they take some kind of enforcement action or pass to debt collectors so I then have an ďinĒnot sure if this is the best approach and hopefully somebody else can offer advice...
    • backandevenmorebroke
    • By backandevenmorebroke 13th Jul 18, 10:47 AM
    • 17 Posts
    • 30 Thanks
    backandevenmorebroke
    So today I took the plunge on starting a DMP with Stepchange.

    I have set up a new basic bank account (as one of my debts is an overdraft), cancelled my credit card direct debits and arranged for my account to be switched on the 23rd July. I have drafted all of the letters to my creditors (SC template) and offered a £1 token payment until I have sought further advice as this will give me a few months to build up an emergency fund.

    I am feeling quite upset about it all as I'm a single parent and I don't want to tell my family about the DMP so feel like I don't have much support. I feel like a huge failure at this point.

    Any advice/words of encouragement would be much appreciated.
    Total Debt June 2018 £23,064 /£0 Paid off
    Ultimate Savings Goal £0/£1000
    Holiday Pot £0/£500
    • DMP_Tiger
    • By DMP_Tiger 13th Jul 18, 11:40 AM
    • 36 Posts
    • 25 Thanks
    DMP_Tiger
    So today I took the plunge on starting a DMP with Stepchange.

    I have set up a new basic bank account (as one of my debts is an overdraft), cancelled my credit card direct debits and arranged for my account to be switched on the 23rd July. I have drafted all of the letters to my creditors (SC template) and offered a £1 token payment until I have sought further advice as this will give me a few months to build up an emergency fund.

    I am feeling quite upset about it all as I'm a single parent and I don't want to tell my family about the DMP so feel like I don't have much support. I feel like a huge failure at this point.

    Any advice/words of encouragement would be much appreciated.
    Originally posted by backandevenmorebroke
    Welcome to the land of DMP's

    1) You are NOT a failure. Facing up to your problem and doing something about it is a MASSIVE and very brave step along the road to SUCCESS.

    2) I don't think many of us have told anyone about our DMP's - apart from spouses/partners who are quite often involved anyway.

    3) You will find all of the support that you need right here on this board.

    4) The support on here is better than support from family because nobody will judge you and we are all in a great position to help you on your DMP journey.

    5) Good luck!
    • Suseka97
    • By Suseka97 13th Jul 18, 2:34 PM
    • 314 Posts
    • 405 Thanks
    Suseka97
    So today I took the plunge on starting a DMP with Stepchange......I am feeling quite upset about it all as I'm a single parent and I don't want to tell my family about the DMP so feel like I don't have much support. I feel like a huge failure at this point. Any advice/words of encouragement would be much appreciated.
    Originally posted by backandevenmorebroke
    I echo the words of DMP_Tiger - and welcome you to DMP land.

    I can imagine that as a single parent the whole situation must be quite daunting, but you've done the hard bit - by getting your DMP up and running. This forum is a great support network of people who are, or have been, in the same situation and so we're all here to help each other. Be ready for the standard ' warnings of default' type letters that will drop on your doormat over the next few weeks - be assured these are just computer generated letters that your creditors have to send when you stop making your contractual payments. Any wobbles you might have... pop back on here and we'll help keep you on track

    Good luck and well done for taking the first step to debt freedom
    LBM Apr13: 14 Creditors / £85k+ owed/£11k outstanding
    • OohSoHolly
    • By OohSoHolly 13th Jul 18, 7:01 PM
    • 331 Posts
    • 161 Thanks
    OohSoHolly
    Iím in a similar predicament, Iíve written and emailed but basically had no response at all, my current plan it to keep ignoring their demand until they take some kind of enforcement action or pass to debt collectors so I then have an ďinĒnot sure if this is the best approach and hopefully somebody else can offer advice...
    Originally posted by tillboy
    They are a nightmare. Iíve searched around the Internet and they seem to just demand full payment or sell it to a DCA. Hopefully someone has had a positive experience with them.. otherwise it does look like itís going to a DCA.
    [I'm Here to Money Save... Are you?]
    • sourcrates
    • By sourcrates 13th Jul 18, 7:32 PM
    • 14,560 Posts
    • 13,703 Thanks
    sourcrates
    They are a nightmare. Iíve searched around the Internet and they seem to just demand full payment or sell it to a DCA. Hopefully someone has had a positive experience with them.. otherwise it does look like itís going to a DCA.
    Originally posted by OohSoHolly
    Not the end of the world.

    Most DCAís are very easy to deal with these days.

    Original creditors do not have the time or the staff to chase up bad debts, thatís why they sell them on and they become someone elseís problem.
    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/
    • OohSoHolly
    • By OohSoHolly 13th Jul 18, 7:40 PM
    • 331 Posts
    • 161 Thanks
    OohSoHolly
    Not the end of the world.

    Most DCAís are very easy to deal with these days.

    Original creditors do not have the time or the staff to chase up bad debts, thatís why they sell them on and they become someone elseís problem.
    Originally posted by sourcrates
    So Iím going to ask a daft question now..

    If I do get a letter from a DCA do I contact them directly or ask StepChange to contact them? Are they likely to accept the monthly payment offered by StepChange or is this all dependent on the DCA?

    Thanks
    [I'm Here to Money Save... Are you?]
    • jak669
    • By jak669 13th Jul 18, 8:03 PM
    • 19 Posts
    • 10 Thanks
    jak669
    I started my dmp at the beginning of June and made two payments so far. I have a next account which doesn!!!8217;t have a balance and I have just had an email from them stating they have received information from Experian and are putting my account on hold. Is this usual for Experian to contact companies I have credit with even though I don!!!8217;t owe them anything.

    I am slightly worried that they will contact my mortgage company and tell them about my difficulties.

    I thought it would only be those in my dmp that would be aware.
    • sourcrates
    • By sourcrates 13th Jul 18, 8:04 PM
    • 14,560 Posts
    • 13,703 Thanks
    sourcrates
    So Iím going to ask a daft question now..

    If I do get a letter from a DCA do I contact them directly or ask StepChange to contact them? Are they likely to accept the monthly payment offered by StepChange or is this all dependent on the DCA?

    Thanks
    Originally posted by OohSoHolly
    If your paying your debts via stepchange, you simply tell them that, give them your SC ref number, and refer it to them.

    It can be a lot of work doing a DMP, this is why I prefer insolvency as everyone must follow the same protocol, you will end up writing a lot of letters most likely but if itís your only option, you have to run with it.
    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/
    • sourcrates
    • By sourcrates 13th Jul 18, 8:06 PM
    • 14,560 Posts
    • 13,703 Thanks
    sourcrates

    I am slightly worried that they will contact my mortgage company and tell them about my difficulties.

    I thought it would only be those in my dmp that would be aware.
    Originally posted by jak669
    They cannot do that, it would be a serious breech of the data protection act, and they would be in serious trouble.
    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/
    • Rebeccadougherty
    • By Rebeccadougherty 13th Jul 18, 8:12 PM
    • 46 Posts
    • 20 Thanks
    Rebeccadougherty
    Hi all

    Usually when I post my posts seem to get missed, Ive probably waffled about the same thing already anyway but Im just having an off day with the whole DMP thing and just wanted to write it somewhere.. Its coming up for a year IVe been on the DMP and hes mostly gone fairly easily, I had a few reduced payments but I been bad at saving it the extra money. I will do better. My boyfriend doesnt know, I don!t want to tell him but we are meant to be moving at some point and he wants us to get a mortgage. I want to do this with him but I have this debt hanging over me if just over 20,000, I already paid nearly 5,000 if the debt through StepChange. I really dont know what to do and I really know I should told him about my debt to begin with and now it just seems Im too far into pretending my money situation is better than it is for me to say anything. I dont want it to affect us or lose him over this. I feel utterly worthless and dishonest but I havent meant to be.im just ashamed.. Is there any way that we could get a mortgage and nobody would have to find out how useless I am? My boyfriend has a really really good job, hes a programmer and earns a lot more than me, so he already does understand I have less money than he does. But he doesnt know about the debt. And he DMP. Just feeling really down about it
    Last edited by sourcrates; 13-07-2018 at 8:34 PM.
    • jak669
    • By jak669 13th Jul 18, 8:12 PM
    • 19 Posts
    • 10 Thanks
    jak669
    They cannot do that, it would be a serious breech of the data protection act, and they would be in serious trouble.
    Originally posted by sourcrates
    So have Experian breached data protection by letting Next know. I donít owe Next anything but they were informed by Experian. This is what the message said

    By way of explanation we have recently received updated information from the credit reference agency Experian. This information includes the way in which you are managing other credit facilities.

    If Next have received this - would my mortgage company receive this?
    • sourcrates
    • By sourcrates 13th Jul 18, 8:32 PM
    • 14,560 Posts
    • 13,703 Thanks
    sourcrates
    So have Experian breached data protection by letting Next know. I donít owe Next anything but they were informed by Experian. This is what the message said

    By way of explanation we have recently received updated information from the credit reference agency Experian. This information includes the way in which you are managing other credit facilities.

    If Next have received this - would my mortgage company receive this?
    Originally posted by jak669
    As long as your paying your mortgage you have nothing to worry about.
    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/
    • sourcrates
    • By sourcrates 13th Jul 18, 8:39 PM
    • 14,560 Posts
    • 13,703 Thanks
    sourcrates
    Hi all

    Usually when I post my posts seem to get missed, Ive probably waffled about the same thing already anyway but Im just having an off day with the whole DMP thing and just wanted to write it somewhere.. Its coming up for a year IVe been on the DMP and hes mostly gone fairly easily, I had a few reduced payments but I been bad at saving it the extra money. I will do better. My boyfriend doesnt know, I don!t want to tell him but we are meant to be moving at some point and he wants us to get a mortgage. I want to do this with him but I have this debt hanging over me if just over 20,000, I already paid nearly 5,000 if the debt through StepChange. I really dont know what to do and I really know I should told him about my debt to begin with and now it just seems Im too far into pretending my money situation is better than it is for me to say anything. I dont want it to affect us or lose him over this. I feel utterly worthless and dishonest but I havent meant to be.im just ashamed.. Is there any way that we could get a mortgage and nobody would have to find out how useless I am? My boyfriend has a really really good job, hes a programmer and earns a lot more than me, so he already does understand I have less money than he does. But he doesnt know about the debt. And he DMP. Just feeling really down about it
    Originally posted by Rebeccadougherty
    Rebecca, have you considered other options, a DRO maybe, if you can get the debt to less than 20k, have no assets or a car worth over 1k, and have less than £50 disposable income at month end, you may qualify and get it all over with after a year, then your credit will gradually improve over time.
    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/
    • jak669
    • By jak669 13th Jul 18, 8:41 PM
    • 19 Posts
    • 10 Thanks
    jak669
    As long as your paying your mortgage you have nothing to worry about.
    Originally posted by sourcrates
    Yes my mortgage is up to date and I havenít missed a payment for the whole term - approx 12 years

    It just got me worried that Experian May notify them - especially now they have notified Next.

    Thanks Sourcrates, your advice is appreciated - I always see you on here helping people - thanks again !!!128578;
    • Rebeccadougherty
    • By Rebeccadougherty 13th Jul 18, 8:45 PM
    • 46 Posts
    • 20 Thanks
    Rebeccadougherty
    Hi sourcrates, I appreciate the reply thank you
    Unfortunately I currently earn too much, I earn 1,280.00 a month. I!!!8217;m crap with money but I AM trying I promise, it!!!8217;s so hard to unlearn years of bad behaviour. It!!!8217;s just over 21,000 I owe actually, not 20,000. I just double checked. So I can!!!8217;t get a DRO. I do want to pay the debt back, I really do. But I!!!8217;m having a really hard time at the moment. My family issues are difficult too, Mum has been sectioned in the past and they try every year to do it again when she has an episode. My 14 year old sister is harming... in the past I had a tendency to soothe myself my just buying stuff, I know it doesn!!!8217;t work and I am not doing it nowhere near how I was. Just so stick really. what have I done to myself I am 29 and feel like an utter failure.
    Last edited by Rebeccadougherty; 13-07-2018 at 8:50 PM.
    • jak669
    • By jak669 13th Jul 18, 9:03 PM
    • 19 Posts
    • 10 Thanks
    jak669
    Hi sourcrates, I appreciate the reply thank you
    Unfortunately I currently earn too much, I earn 1,280.00 a month. I!!!8217;m crap with money but I AM trying I promise, it!!!8217;s so hard to unlearn years of bad behaviour. It!!!8217;s just over 21,000 I owe actually, not 20,000. I just double checked. So I can!!!8217;t get a DRO. I do want to pay the debt back, I really do. But I!!!8217;m having a really hard time at the moment. My family issues are difficult too, Mum has been sectioned in the past and they try every year to do it again when she has an episode. My 14 year old sister is harming... in the past I had a tendency to soothe myself my just buying stuff, I know it doesn!!!8217;t work and I am not doing it nowhere near how I was. Just so stick really. what have I done to myself I am 29 and feel like an utter failure.
    Originally posted by Rebeccadougherty

    Hi Rebecca

    Stop beating yourself up. You are handling it now. If your boyfriend earns good money then maybe he can get the mortgage on his own and you can continue to pay your DMP. I understand not wanting to tell him - I havenít told anyone either. However, you seem to have a lot on your plate so it might take a weight of your mind if you do tell him.

    We are always here to talk to - everyone on here has been a real support to me. Just try and be positive. Your only 29, thatís a good thing. Plenty of time to sort it all out and look forward to your debt free years
    • NewbieNat
    • By NewbieNat 13th Jul 18, 10:16 PM
    • 58 Posts
    • 33 Thanks
    NewbieNat
    I started my dmp at the beginning of June and made two payments so far. I have a next account which doesn!!!8217;t have a balance and I have just had an email from them stating they have received information from Experian and are putting my account on hold. Is this usual for Experian to contact companies I have credit with even though I don!!!8217;t owe them anything.

    I am slightly worried that they will contact my mortgage company and tell them about my difficulties.

    I thought it would only be those in my dmp that would be aware.
    Originally posted by jak669
    I've had the same letter from Next, although I do have a balance of £50.00. I was surprised as I was unware that Experian contacted anyone. Isn't the case that companies who credit check customers contact Experian to obtain a credit report? Or is it part of Experian's remit to contact all companies who have customers with a credit facility and ever decreasing credit score?

    Thanks
    Nat
    • backandevenmorebroke
    • By backandevenmorebroke 14th Jul 18, 7:53 AM
    • 17 Posts
    • 30 Thanks
    backandevenmorebroke
    Thanks for the support guys!

    I've been doing lots of research and see that a lot of people seem to prefer a self managed DMP.

    Has anyone got any experience of starting off the bat a self managed DMP? If so how did you work out what amount to pay to each creditor? Did you split the available amount between the number of creditors or pay those with a higher balance a bigger amount and so on?

    Any advice would be much welcome.
    Total Debt June 2018 £23,064 /£0 Paid off
    Ultimate Savings Goal £0/£1000
    Holiday Pot £0/£500
    • motivated
    • By motivated 14th Jul 18, 8:55 AM
    • 2,218 Posts
    • 4,410 Thanks
    motivated
    Thanks for the support guys!

    I've been doing lots of research and see that a lot of people seem to prefer a self managed DMP.

    Has anyone got any experience of starting off the bat a self managed DMP? If so how did you work out what amount to pay to each creditor? Did you split the available amount between the number of creditors or pay those with a higher balance a bigger amount and so on?

    Any advice would be much welcome.
    Originally posted by backandevenmorebroke
    Hi

    If you go on to the NEDCAB site it's all self explanatory and once you have put all relevant details in such as CCs loans etc it will generate for you how much your creditors should get. It also generates all letters etc. I found it very easy to do.

    Good luck
    M
    I have arrived in DMP land and I like it, I may stay a while
    LBM £82,590 Jan 17/£76,231.91 July 18
    Short term goal £1683.73/£1796 / PDBX 18 # 31 - £3914.52/£5,000
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

136Posts Today

1,765Users online

Martin's Twitter
  • RT @samgio1997: So glad you talked about the importance of taking out holiday insurance on this morning as a few years ago my auntie's pare?

  • RT @mmhpi: "Two years ago, I was in the fortunate position to be able to found @mmhpi... I?m incredibly proud of the work the team there is?

  • It means you should either have an annual policy in place, or book a specific single trip policy when you book https://t.co/oBDx8TmzQU

  • Follow Martin