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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 12,190Posts
    • 11,650Thanks
    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'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
Page 86
    • January2015
    • By January2015 12th Aug 17, 12:14 PM
    • 1,756 Posts
    • 4,732 Thanks
    January2015

    I wish my creditors had all been so incompetent!. Some of my debts date from 1998 but they still managed to produce the required paperwork to make the debts enforceable
    Originally posted by carbootcrazy
    Hi CBC

    Have you had the paperwork from old (pre-2007) debts checked out. Our MBNA debt sent everything that looked compliant but it wasn't. In fact all pre-2007 MBNA credit cards are unenforceable (apparently - according to the all about debt site).

    I'm sure you are on top of this, but it's worth getting every single one checked out
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • carbootcrazy
    • By carbootcrazy 12th Aug 17, 12:34 PM
    • 4,125 Posts
    • 23,166 Thanks
    carbootcrazy
    Hi CBC

    Have you had the paperwork from old (pre-2007) debts checked out. Our MBNA debt sent everything that looked compliant but it wasn't. In fact all pre-2007 MBNA credit cards are unenforceable (apparently - according to the all about debt site).

    I'm sure you are on top of this, but it's worth getting every single one checked out
    Originally posted by January2015
    That's brilliant news, January. Thanks very much indeed for it. My 2 MBNA debts are now with Link (sold on), so does that make any difference?


    One of them is definitely unenforceable according to the letter they sent me and they couldn't supply any paperwork! The other one is enforceable according to them and they sent a load of paperwork for that one. I was surprised as they both date from the same year but one was an Affinity credit card and one wasn't which I assumed might make a difference in their record-keeping situation. I haven't checked it out on AAD yet and your faith that I'm on top of the situation is completely misplaced.


    You've given me a welcome kick up the backside. Am just on my way out and will have very little time this weekend because of commitments to help out a friend but I'll get onto it first thing Monday morning. Promise


    I hope everything's going well with you and yours
    Last edited by carbootcrazy; 12-08-2017 at 12:38 PM.
    Make £10 A Day Challenge 2017. Jan-Sept: £4251.91 Oct: £12.00
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £15841
    . Getting there
    • sourcrates
    • By sourcrates 12th Aug 17, 12:45 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Carbboot,

    Sometimes sending lots of paperwork is intended to mis-lead you in to believing what they tell you is true.

    Its the content that matters, never take what a creditor says at face value.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • BeingDebtFreeStartsHere
    • By BeingDebtFreeStartsHere 12th Aug 17, 1:21 PM
    • 260 Posts
    • 785 Thanks
    BeingDebtFreeStartsHere
    Good to hear of unsolicited discounts from DCAs. Good luck with getting even better ones in the future


    I have a debt with Robinson Way (a Tesco credit card) and so far it's proving to be unenforceable. As such they placed repayments on hold and I haven't paid them a penny since about March They wrote to me months ago to say Tesco were trying to supply the information I asked for in my CCA request.


    Is your debt that they made the discount offer on an unenforceable one? I know some posters advise us to just walk away from unenforceable debts and pay absolutely nothing. Others have negotiated a 10% offer (that's 10% paid not just 10% off) to see the back of them.
    Originally posted by carbootcrazy
    Hi cbc,

    No the account we have is not unenforceable so I believe you could definitely get a much better deal if you wanted to negotiate to close the debt

    Good luck!!

    BDFSH x
    LBM - August 2014
    DMP - started October 2014
    Total Debt Sept 2014 - £70,905.57 Apr 2017 £56,116.31 (20.8% paid) but proud to be in control and paying back what we've borrowed
    • Eddieslave
    • By Eddieslave 12th Aug 17, 4:06 PM
    • 2 Posts
    • 3 Thanks
    Eddieslave
    I've read so much already. I feel ready to take the plunge. Just need to restrain from spending any emergency fund I can put together. I'm guessing enough to cover 3 months of bills would be ok?
    • sourcrates
    • By sourcrates 12th Aug 17, 4:22 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    I've read so much already. I feel ready to take the plunge. Just need to restrain from spending any emergency fund I can put together. I'm guessing enough to cover 3 months of bills would be ok?
    Originally posted by Eddieslave
    Its best not to rush into things, take your time, save some money up, your creditors are not going to do anything.

    The debt charities do a brilliant job, but there sole aim is to get you repaying as soon as possible (they are independent, but funded by the credit industry) this isn't always in your best interests.

    There motis operandi is to deal with emergencies as they happen, we on here believe its better to have that emergency fund already saved, so you can deal with whatever crops up yourself, with the least amount of hassle.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • meepatme
    • By meepatme 12th Aug 17, 4:50 PM
    • 26 Posts
    • 7 Thanks
    meepatme
    wow interesting to hear about mbna account my cc was open in 2006 of course iv only just started stopping paying it very recent and this could be unenforacable now? Or do they mean you stopped paying on it in 2007
    • sourcrates
    • By sourcrates 12th Aug 17, 5:16 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    There`s a lot of talk about unenforceable credit agreements at the moment, some agreements from certain providers, prior to April 2007, were deemed unenforceable because they lacked certain "prescribed terms", i just dont want, newbies in particular, to think this will happen with all there debts, it wont.

    A reconstituted copy can be provided for an agreement from any time period, agreements signed before the above date must include those terms to be valid, after that date, the law changed, and it is no longer a requirement.

    For later agreements, it is most certainly possible that your creditor may not be able to provide what you've asked for, record keeping among creditors is a shambles, but most likely they will be able to, so please be aware of that.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • Cornwallis4
    • By Cornwallis4 12th Aug 17, 5:55 PM
    • 1 Posts
    • 1 Thanks
    Cornwallis4
    DMP and applying for an overdraft
    Firstly - apologies if this is being posted in the wrong area, I am sure someone will advise on where best to place it if this is the case.

    My partner and I have been on a DMP with StepChange since 2014, and we still have quite a way to go. SC have been amazing, and really supported us in managing our debt repayments despite many up and downs over the last couple of years. Now our car, purchased used in 2013 has given up the ghost, in is waiting approximately £1000 worth of repairs after we scrapped together £500 last month to get it back on the road. ( some timely Topcashback payments successful eBay sales, and birthday money) after a couple of days out of the garage it has completely died. A friend lent us a car for a few days, thankfully, but we had to hire one this morning to get my partner to work. The only thing I can think of is to apply for an overdraft on my partners account, to purchase an old banger we have seen for 300.00, and sit tight and cut spending to almost 0 to get the car repaired. Is this advisable? I know the rules about further borrowing, but my partner works in a rural location and is the principal wage earner, so needs a car for work, the kids and I aren't bothered, we can get around fine, but baby # 3 makes its surprise arrival next month, and I am really at my wits end as to what to do........ we cannot borrow from family as they have thier own commitments. Current car value is £1500 - but only once it's repaired and on the road

    Any advice gratefully received. Thank you.
    • Keezing
    • By Keezing 13th Aug 17, 6:37 AM
    • 270 Posts
    • 238 Thanks
    Keezing
    It would be better to stop your debt repayments for a month or 2 than take out additional borrowing, in my opinion.
    • Suseka97
    • By Suseka97 13th Aug 17, 9:29 AM
    • 131 Posts
    • 196 Thanks
    Suseka97
    Hi Cornwallis4 - I agree with Keezing. I would advise against additional 'borrowing' by way of an overdraft. Not that I've a problem with folks having overdraft facilities whilst in a DMP (although DMP providers don't want you to) but because this is one of those emergency situations that come along from time to time and you should reduce or stop payments to the DMP until its sorted. Give SC a call and explain what's happened and they should be sympathetic and agree to you suspending payments until the car issues are resolved. If you 'borrow' by way of an overdraft - you are just making the situation harder for yourself.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • leanne12345
    • By leanne12345 14th Aug 17, 9:50 AM
    • 70 Posts
    • 41 Thanks
    leanne12345
    Hi everyone, I have just received 3 letters saying 3 of our debts have been sold/passed on. This is the first time it has happened so a couple of questions if I may.
    One of them says the account has been 'legally assigned' to them- does this mean it has been sold or are they just managing it?
    Also, none of these debts have currently defaulted, I presume I now chase the DCAs for a default, not the original creditor, is that right?
    Thank you ☺
    • Just Afloat
    • By Just Afloat 14th Aug 17, 10:02 AM
    • 4 Posts
    • 2 Thanks
    Just Afloat
    Morning, first time post so I hope I'm doing it right...
    I'm on a dmp with stepchange, 2 years in and 3 to go but have one debt with a Halifax credit card that will soon start charging interest again, as I will meet the minimum payments. My question is, would stepchange allow me to remove this from the DMP (around7K for this credit card) so I can throw extra money at it when available, to reduce the interest I will have to pay over the next couple of years, would it make any difference if its my wife who makes the extra payments as she is not part of my DMP. I also have other debts in the DMP owned or once owned by Halifax which have defaulted, an overdraft and a loan, but I also have a credit card, Sainsburys (4.5K) which is basically a Halifax card, this card hasn't defaulted either, but is some way off meeting minimum payments.
    My choices might end up having to go self managed, gulp, or stick with stepchange and accept that Halifax will charge me around 3k in interest before the DMP completes, any advice welcome, thanks.
    • sourcrates
    • By sourcrates 14th Aug 17, 11:31 AM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Hi everyone, I have just received 3 letters saying 3 of our debts have been sold/passed on. This is the first time it has happened so a couple of questions if I may.
    One of them says the account has been 'legally assigned' to them- does this mean it has been sold or are they just managing it?
    Also, none of these debts have currently defaulted, I presume I now chase the DCAs for a default, not the original creditor, is that right?
    Thank you ☺
    Originally posted by leanne12345
    Hi,

    "Legally assigned" means they have been sold yes.

    You must of been defaulted, a default notice should be issued first, followed by a default on your credit file if you dont comply, a debt cannot be sold unless its defaulted.

    Its likely the debt purchasers who have bought your accounts will add the entry in there name pretty quickly.

    Original creditor has now washed there hands of the debts, so wait until the new owners introduce themselves.
    Last edited by sourcrates; 14-08-2017 at 12:01 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • leanne12345
    • By leanne12345 14th Aug 17, 12:09 PM
    • 70 Posts
    • 41 Thanks
    leanne12345
    Hi,

    "Legally assigned" means they have been sold yes.

    You must of been defaulted, a default notice should be issued first, followed by a default on your credit file if you dont comply, a debt cannot be sold unless its defaulted.

    Its likely the debt purchasers who have bought your accounts will add the entry in there name pretty quickly.

    Original creditor has now washed there hands of the debts, so wait until the new owners introduce themselves.
    Originally posted by sourcrates
    Thanks very much Sourcrates.

    They definitely haven't been defaulted by the original creditor, I haven't actually received any correspondence regarding all 3 accounts, apart from my normal monthly statements, since entering into the DMP. They are not showing as defaults on my credit reports either so I will wait and see what happens with the new 'owners' now I guess.
    • sourcrates
    • By sourcrates 14th Aug 17, 12:15 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Thanks very much Sourcrates.

    They definitely haven't been defaulted by the original creditor, I haven't actually received any correspondence regarding all 3 accounts, apart from my normal monthly statements, since entering into the DMP. They are not showing as defaults on my credit reports either so I will wait and see what happens with the new 'owners' now I guess.
    Originally posted by leanne12345
    Your not the first person to say this.

    Legally they must default you, ie, the relationship must end, before they can sell on your account.

    A few people have told me this has not been the case with them, i`m just trying to chase this up at present and see how it might affect people, if at all.

    Its all covered by sec 87 CCA 1974 :

    http://www.legislation.gov.uk/ukpga/1974/39/section/87
    Last edited by sourcrates; 14-08-2017 at 12:24 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • Puzzcat
    • By Puzzcat 14th Aug 17, 12:18 PM
    • 3,126 Posts
    • 16,204 Thanks
    Puzzcat
    Your not the first person to say this.

    Legally they must default you, ie, the relationship must end, before they can sell on your account.

    A few people have told me this has not been the case with them, i`m just trying to chase this up at present and see how it might affect people, if at all.
    Originally posted by sourcrates
    Hi Sourcrates,

    My non defaulted debt from creation was sold to Lowells and I complained to the FOS and ICO and they both said I had no case and the creditor/dca had done nothing wrong.

    Puzz
    Christmas 2017 £500 cash/£109 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £445.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • Suseka97
    • By Suseka97 14th Aug 17, 12:31 PM
    • 131 Posts
    • 196 Thanks
    Suseka97
    Morning, first time post so I hope I'm doing it right...
    I'm on a dmp with stepchange, 2 years in and 3 to go but have one debt with a Halifax credit card that will soon start charging interest again, as I will meet the minimum payments. My question is, would stepchange allow me to remove this from the DMP (around7K for this credit card) so I can throw extra money at it when available, to reduce the interest I will have to pay over the next couple of years, would it make any difference if its my wife who makes the extra payments as she is not part of my DMP. I also have other debts in the DMP owned or once owned by Halifax which have defaulted, an overdraft and a loan, but I also have a credit card, Sainsburys (4.5K) which is basically a Halifax card, this card hasn't defaulted either, but is some way off meeting minimum payments.
    My choices might end up having to go self managed, gulp, or stick with stepchange and accept that Halifax will charge me around 3k in interest before the DMP completes, any advice welcome, thanks.
    Originally posted by Just Afloat
    I think you'll find that SC are unlikely to agree with you removing them from your DMP - they have a policy to treat all creditors 'fairly' which means they would not counter you making extra payments to any one of them (regardless of who pays). I was in a similar positon with Barclaycard (we had two CCs with them) and at first they stopped interest, then charged it again once we hit the minimum payment threshold. Oddly, although their argument for charging interest (which by the way was upheld by the FOS ) was that we were then like any other paying customer - about 6 months later they sold the debt on. Go figure!

    If I were you I'd be pushing Sainsbury for the default - because if/when they eventually sell the debt on -it will have added at least 2 years to when it falls off your credit file. As and when you hit the threshold - if they do add interest back on, just keep on at them -or, as you've suggested, go self-managed and drop them back under the minimum. Others have successfully gone self-managed for that very reason dropping creditors down to as little as token payments both to push for the default and to stop charges.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • sourcrates
    • By sourcrates 14th Aug 17, 12:52 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Hi Sourcrates,

    My non defaulted debt from creation was sold to Lowells and I complained to the FOS and ICO and they both said I had no case and the creditor/dca had done nothing wrong.

    Puzz
    Originally posted by Puzzcat
    I remember you telling us that Puzz.

    Seems to be a big difference between what is laid down in the consumer credit act, and how creditors (and regulators) interpret the same information.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    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 Legal advice see : http://legalbeagles.info/
    • henrryyyy
    • By henrryyyy 14th Aug 17, 2:06 PM
    • 59 Posts
    • 56 Thanks
    henrryyyy
    I too received a letter today saying my account has been assigned to asset link capital. I also received no default notice.
    I wrote to all my creditors offering token payments a couple of weeks ago, in an attempt to get the accounts defaulted/sold. Now this creditor has done that, should I start making proper payments to asset link capital?
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