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  • FIRST POST
    • daisy_jean
    • By daisy_jean 21st Mar 18, 9:28 PM
    • 277Posts
    • 356Thanks
    daisy_jean
    Beginning my journey...
    • #1
    • 21st Mar 18, 9:28 PM
    Beginning my journey... 21st Mar 18 at 9:28 PM
    So tonight, I am finally facing upto my problems...


    Over £19,000 in debt. Robbing Peter to pay Paul each month, and I can no longer keep it up. I have submitted my details to PayPlan, and am hoping to apply for a DMP. I earn 1350 a month, and currently £1050 is going towards debt payments each month (which includes several payday loan companies). I can no longer cope with it, and need help to reduce my payments before I crumble. No payments are in arrears but they will be shortly if I don't do something about it.


    All my own fault, and that I hold my hands up too it. But I am in my mid-30's and need to take control. My husband doesn't know anything about it. Well he knows I have debt, but not the severity of it. None of our debts are joint. I am scared s$%tless of his reaction (not because he's a bad man, far from it), I just am.


    Anyhows, I'll await PayPlan's response and take it from there.
Page 2
    • WannabeFree
    • By WannabeFree 27th Mar 18, 12:49 PM
    • 1,771 Posts
    • 15,649 Thanks
    WannabeFree
    Good luck you've made the hardest step.. It will get easier and things will look more positive.

    x
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.Ē
    • enthusiasticsaver
    • By enthusiasticsaver 27th Mar 18, 3:43 PM
    • 7,213 Posts
    • 15,711 Thanks
    enthusiasticsaver
    It will get easier. There is great support on the DMP thread and lots of people on here with diaries have DMPs so any questions you have will have come up before. The credit union savings is probably a good idea. Emergency fund is a must and it would be incredible if you were DF in 2 years 7 months. Sensible to put in complaints to the payday loan sharks on affordability. All this will get easier once it has settled down and you are paying the DMP payments. Good luck and I look forward to reading about your journey.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • daisy_jean
    • By daisy_jean 27th Mar 18, 8:44 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Quite a few of my creditors have responded, and as positively as can expect - to freeze interest for 30days and cancel payments. That has eased my mind slightly from the unrest last night. I need to bang out some letters to the last of the creditors to be contacted but Iím going to do that tomorrow.

    Tonight, I am going to enjoy a glass of wine, whatever nonsense I can find on the television (itís all rubbish!) and try to relax. Tomorrow I will tackle the rest. Itís been a super long day at work (staying late for a unavoidable meeting did not help!) and I just need to try and unwind slightly.

    Tomorrow is a new day!
    • daisy_jean
    • By daisy_jean 28th Mar 18, 9:25 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Ended up having to put a lost card report on my debit card - all companies cancelled the CPA with the exception of one, so I just cancelled the card.


    Sat here about to put an affordability complaint into SafetyNetCredit - despite being able to see what payday stuff was coming into my account, they continued to up my credit limit and take unaffordable repayments that made it necessary to immediately reborrow. Going after them now! It'll be Wonga next...
    I've already complained to MyJar, Pounds to Pocket and Mr Lender - those were about a fortnight ago, so a bit to go yet till the 8 weeks is up. I think my strongest case is with SNC tho.
    Last edited by daisy_jean; 28-03-2018 at 9:29 PM.
    • daisy_jean
    • By daisy_jean 28th Mar 18, 9:47 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    I am also going down to the local credit union on Saturday too to open a savings account. DD has a school savers there too and has a build up of grandparental pocket money to deposit (she's already more money savvy than her mother!)!
    • daisy_jean
    • By daisy_jean 30th Mar 18, 3:47 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Going into the bank tomorrow to enquire about closing our joint account (so weíre no longer financially tied) - hub has agreed that itís useless having it (literally 2 bills come out of it!). Using this months EF to pay off the overdraft and shut it completely. Bank is also linked to another bank where some of my major debts are, so before I contact them with details of the DMP, I think itís wise to get shot of the joint account.

    Snotty email received this morning from Pounds to Pocket adding late charges to a missed payment. I emailed them last Saturday to cancel the CPA and to advise of DMP but they never responded (hence the card cancellation!) and obviously took no notice.

    On a plus - little money saving moment today - found £15 of tesco vouchers in my club card account so that reduced todayís weekly shop a little!
    • daisy_jean
    • By daisy_jean 31st Mar 18, 5:15 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Joint account in the process of being closed, went into the bank and they were very helpful! Also opened a savings account with the local credit union too, £50 immediately put in there with a plan to add to it next month.

    Sent a couple more notices of impending DMP to creditors, and this morning SNC acknowledged receipt of my affordability complaint. Fingers crossed on that one!
    • enthusiasticsaver
    • By enthusiasticsaver 31st Mar 18, 5:23 PM
    • 7,213 Posts
    • 15,711 Thanks
    enthusiasticsaver
    Sounds like you are making progress. Good luck with the affordability complaints.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • daisy_jean
    • By daisy_jean 1st Apr 18, 5:03 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Today I finished painting the front room - started it about 7 weeks ago (did a feature wall plus another white wall) but never got around to finishing it. Today I got them done (already had the paint, just had to actually get on with it!). My small achievement for today. Shattered now and I think I pulled my back getting up and down the ladder oh well!
    • daisy_jean
    • By daisy_jean 4th Apr 18, 8:59 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Today I rang StepChange and talked through some queries I had... The guy was nice and friendly, and for the first time I didn't feel judged. I came off the phone feeling slightly better and determined to take the bull by the horns.

    Then tonight I've started my spreadsheet to send - creditors/how much owed/account numbers. And I'm sat here freaking out again. It'll pass as it has each other time, but the amount is so huge, how did I let it get to this point?

    I'm still debating whether to take another month again and start the DMP in June. My 30 days grace with creditors is up at the end of the month (the SC guy said I did it too soon if I wanted to build a EF - b$$$$$d!) and they'll question the delay. But realistically what can they actually do? Say it's up at the end of this month, if I delay sending the SC forms so I miss the deadline for setting up May's direct debit, but they'll still get notification it's coming in June? What can they do?

    On a plus though, logged into the joint account today and it has definitely closed and gone.
    • daisy_jean
    • By daisy_jean 6th Apr 18, 10:09 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    I have emailed all of my forms and information to StepChange. I just want it started. I have worked out I will be debt free in 2years 10months if creditors play ball (I suspect not all will). So in 2years 11months I will have an extra £750 a month and be debt free - it sounds like a dream!
    • enthusiasticsaver
    • By enthusiasticsaver 7th Apr 18, 9:38 AM
    • 7,213 Posts
    • 15,711 Thanks
    enthusiasticsaver
    Sounds as if you are all organised now. Good luck and those 2 years etc will go soon.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • daisy_jean
    • By daisy_jean 7th Apr 18, 4:25 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Thank you!!

    Today many letters arrived notifying me of cancelled direct debits... quite a few came yesterday too.

    The house insurance renewal came too, and whilst itís only gone up by pence each month, Iím going to look at quotes this evening - might even gain a little Topcashback or quidco if Iím lucky! Every little helps!
    • daisy_jean
    • By daisy_jean 10th Apr 18, 12:18 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    So SC have confirmed the DMP has been set up and the first payment goes out May 1st. I have contacted all creditors today to notify of this, and have also given client number. All is go!

    Payday refunds - Pounds to Pocket have outright rejected my claim... Debating whether to take it to the FCO, will see what the others come back with. I understand I have 6 months to do this. Still awaiting from MyJar, Mr Lender and SafetyNetCredit. SNC was only sent less than a fortnight ago, but the other two are approaching 6 weeks so don't have long left. Fingers crossed! I have also contacted Wonga for a SOA before making a claim!
    • daisy_jean
    • By daisy_jean 10th May 18, 12:18 AM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Little update.... It's been a few weeks!

    PayDay Loan claims - all rejected so far (though still awaiting SafetyNetCredit's response) - gonna refer to the Ombudsman once I actually find some time in my life!

    SOA came through from WONGA, not actually done anything with this yet. Probably should...

    Stepchange took my first DD payment and have started distributing it to the hundred and one creditors. All have frozen interest/charges with the exception of HSBC (despite a phone call saying they would... I'm tempted to complain on that basis) who are currently playing hardball. Which is typical when they are the main substantial creditor!

    On a personal plus - I am enrolling in University for September - work are offering to fund a degree which would have been completely daft to turn down. I do have to apply for a maintenance grant to cover books / lost wages 1 day per week, but as it is student finance I should be fine. Couldn't afford to do it otherwise, and it's still way better than funding a degree myself (as I would never do that!). I am stupidly excited to start in September hopefully - I have my Uni interview next week!! It will benefit my role in my job hugely, and it is something I have always wanted to do so feel very lucky and privileged that my work have seen some potential in me to fund it!!! Eeeeek!!!

    Oh and it was my 34th birthday on Sunday just gone - we went to the beach and I got sunburnt quite badly despite having lotion in my bag (which I forgot to put on!). Oh well!!!
    Last edited by daisy_jean; 10-05-2018 at 12:25 AM.
    • daisy_jean
    • By daisy_jean 17th May 18, 11:45 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    I have been accepted onto my university course, which is very very exciting! I enrol in August and begin in September - bye bye what little social life I had!!

    DMP seems to have gone alright, and from what I've seen all payments have successfully reached creditors - the only exceptions I have is Drafty (but I have forwarded the new details to SC yesterday) and Paypal which isn't showing up as a wrong account number but when I login a payment doesn't show up as received. Will give this another couple of days before querying in case it's a cheque payment one.

    Oh, and an update on my last post - HSBC refunded all charges and fees relating to my current account and credit account. I didn't even complain - they did it themselves!

    Going alright so far. Not regretting. Not as stressed as I imagined. I imagine come September and Uni work kicks in - that'll all change!
    • daisy_jean
    • By daisy_jean 18th May 18, 7:33 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    So SafetyNet Credit sent me their verdict on my affordability complaint - UPHELD! Woohooo!

    Basically they accepted that I shouldn't have been lend what I was, and they are refunding all interest and charges - £ 766
    Because of this, it leaves a final balance of £114 to be paid off via the DMP. But that interest is a month's DMP payment, so as a result my DFD is now a month earlier! Bingo! Thrilled!!
    • Cumbria lass
    • By Cumbria lass 18th May 18, 8:43 PM
    • 2,307 Posts
    • 14,135 Thanks
    Cumbria lass
    All going well Daisy_Jean , especially with Safety Net Credit. Plus well done on getting into Uni , it is definitely to good a chance to miss. Don't forget to get your student card for your discounts.
    CC1 £3609
    • daisy_jean
    • By daisy_jean 18th May 18, 10:09 PM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    Yeah I'm looking forward to an NUS card again - its been 17years since my last one

    Also aiming for Amazon Prime Student too!!
    • daisy_jean
    • By daisy_jean 4th Jun 18, 12:07 AM
    • 277 Posts
    • 356 Thanks
    daisy_jean
    All going good so far except a couple of minor hiccups...

    Paypal have majorly limited my account because of receiving a cheque payment from SC - it was eventually assigned to the credit account but has totally f%%ked up my account relating to eBay now. In the process of sorting out...

    HSBC Visa have rejected SC's payment proposal becuase apparently the account names/account address don't correspond. Trying to get throught to them to sort this out is a nightmare!!


    I will sort out the HSBC mess this week, but in the meantime back to the grind in the morning!
    Last edited by daisy_jean; 19-08-2018 at 1:13 PM.
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