DMP Mutual Support Thread - Part 12

alana171 · 3 December 2017 at 1:52PM

Hi all. So I’m in month 3 of my DMP and yesterday I had a letter from Marbles CC basically stating that whilst they are pleased I am continuing (via StepChange) to make payments they have decided to terminate the CC agreement with me and have enclosed a default notice and They may sell my account to a third party.
This is good right and what needs to happen or have I got that wrong?
Thanks in advance.

sourcrates · 3 December 2017 at 2:30PM

alana171 wrote: »

Hi all. So I’m in month 3 of my DMP and yesterday I had a letter from Marbles CC basically stating that whilst they are pleased I am continuing (via StepChange) to make payments they have decided to terminate the CC agreement with me and have enclosed a default notice and They may sell my account to a third party.
This is good right and what needs to happen or have I got that wrong?
Thanks in advance.

Hi,

Yes, all good, and par for the course, but remember, the new owner will most likely be unaware of your DMP arrangement, you will have to write and tell them when they contact you.

selinek · 3 December 2017 at 4:39PM

sourcrates wrote: »

Anything is possible, write and complain, see what they say.

No harm in trying. From what I can remember they were still charging me interest from 2008 until I paid off in April !

MMC87 · 4 December 2017 at 9:26AM

Hello

I am a new visitor to the forum and in the process of starting a DMP. I feel happier now that I’ve decided a plan of action to take but I’m struggling to concentrate and see clearly and I hope someone can answer this question for me as my eyes are jittering around in my head trying to read through the endless info available on DMP (I do intend to sit and have a really good read through the threads here when I can)

I know I don’t need to declare things like overtime, but I have been considering a zero hours contract job for the weekends. How would that work? Obviously I wouldn’t have a regular, consistent income to report so I couldn’t commit to paying extra every month, although obviously I’d want to if I could.

sourcrates · 4 December 2017 at 9:29PM

MMC87 wrote: »

Hello

I am a new visitor to the forum and in the process of starting a DMP. I feel happier now that I’ve decided a plan of action to take but I’m struggling to concentrate and see clearly and I hope someone can answer this question for me as my eyes are jittering around in my head trying to read through the endless info available on DMP (I do intend to sit and have a really good read through the threads here when I can)

I know I don’t need to declare things like overtime, but I have been considering a zero hours contract job for the weekends. How would that work? Obviously I wouldn’t have a regular, consistent income to report so I couldn’t commit to paying extra every month, although obviously I’d want to if I could.

Just declare your main income, as a zero hours second job cannot give you guaranteed hours, use any money you do make from it as a little bonus for yourself, or pay off lump sums whenever you can.

spiffyiffy · 4 December 2017 at 11:47PM

Hi all,

I haven't been on here for about 4 or 5 months probably longer.

I went self managed which was good and was plodding along well. Managed to pay off one creditor so far which was good.

My question really is that I have 2 HSBC accounts on my list which both defaulted around May 2015 I think. I just randomly checked my noddle account yesterday and they were both gone off my noddle account. I also received letters from HSBC telling me they had sold my accounts to Cabot.
Does this now mean that Cabot will default me again starting now so I'll have to wait 6 more years that they drop off? or what will happen? anyone else been in this situation?

I will post more updates soon and an update of whats gone on, in the meantime I will have to go back through this thread to read the posts from 4 or 5 months ago

Thanks

sourcrates · 5 December 2017 at 12:44AM

spiffyiffy wrote: »

Hi all,

I haven't been on here for about 4 or 5 months probably longer.

I went self managed which was good and was plodding along well. Managed to pay off one creditor so far which was good.

My question really is that I have 2 HSBC accounts on my list which both defaulted around May 2015 I think. I just randomly checked my noddle account yesterday and they were both gone off my noddle account. I also received letters from HSBC telling me they had sold my accounts to Cabot.
Does this now mean that Cabot will default me again starting now so I'll have to wait 6 more years that they drop off? or what will happen? anyone else been in this situation?

I will post more updates soon and an update of whats gone on, in the meantime I will have to go back through this thread to read the posts from 4 or 5 months ago

Thanks

No, debts only default once.

Cabot will take over reporting the accounts status, but the dates will remain the same.

If they don’t, complain.

MMC87 · 5 December 2017 at 11:44AM

sourcrates wrote: »

Just declare your main income, as a zero hours second job cannot give you guaranteed hours, use any money you do make from it as a little bonus for yourself, or pay off lump sums whenever you can.

Thank you!

motivated · 5 December 2017 at 5:51PM

Hi all
I’m still around and still plodding along with my SM DMP. My 2 big Halifax loans are now showing as defaulted in October on Noddle and are being managed by wescot and I have a monthly payment plan in place with them.

If I up my payments to them now (still not to the original agreement amount though) will it make any difference. I’m only asking as I’ve seen people write that their payments were at or near the original amount and then the creditor began adding interest etc. Or because they are defaulted will the balance stay the same? I’m itching to start making a dent in them.

Thanks for any advice.
:A

sourcrates · 5 December 2017 at 8:23PM

motivated wrote: »

Hi all
I’m still around and still plodding along with my SM DMP. My 2 big Halifax loans are now showing as defaulted in October on Noddle and are being managed by wescot and I have a monthly payment plan in place with them.

If I up my payments to them now (still not to the original agreement amount though) will it make any difference. I’m only asking as I’ve seen people write that their payments were at or near the original amount and then the creditor began adding interest etc. Or because they are defaulted will the balance stay the same? I’m itching to start making a dent in them.

Thanks for any advice.
:A

Better saving up the spare money to do a possible full and final in the future, then you take that particular problem out of the equation.

DMP Mutual Support Thread - Part 12

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