DMP Mutual Support Thread - Part 12

100kdeep · 6 July 2017 at 6:01PM

keep going backward and forward with how im going to start my dmp. think starting with stepchange then going self-managed seems the best option for the chances of interest being frozen.

but want to do three months of token payments ( would allow me to save a good emergency fund) but would i be risking 3 month worth of full fat interest if i sent token payment letters first? (all debt is low interest at the moment) interest per month could be upto £1500 ish per month if they dont freeze ? so total could be jump up a lot before i start

so step change first or token payments then stepchange then self manage or token payments then selfmanaged.

is there any point asking for cca if account was opened online as i think most of mine where and all where opened 2009 onwards

thanks in advance

Puzzcat · 6 July 2017 at 6:07PM

100kdeep wrote: »

keep going backward and forward with how im going to start my dmp. think starting with stepchange then going self-managed seems the best option for the chances of interest being frozen.

but want to do three months of token payments ( would allow me to save a good emergency fund) but would i be risking 3 month worth of full fat interest if i sent token payment letters first? (all debt is low interest at the moment) interest per month could be upto £1500 ish per month if they dont freeze ? so total could be jump up a lot before i start

so step change first or token payments then stepchange then self manage or token payments then selfmanaged.

is there any point asking for cca if account was opened online as i think most of mine where and all where opened 2009 onwards

thanks in advance

I started with stepchange and now self manage. I did token payments for 3 months and kept my creditors updated and then started the dmp with sc. I did accrue some interest during the first 3 months but 8 out of 9 froze interest quickly when the dmp kicked in. You can cca any age debt, you might be lucky!
Puzz

January2015 · 6 July 2017 at 6:10PM

Puzzcat wrote: »

Unfortunately it's not so clear cut, as the ombudsmen sided with my creditor despite the debt even being sold! I am now trying the ICO but been waiting over 5 weeks for a hint of a reply...

Sorry to hear that Puzz - I honestly think if you put the argument I mentioned to a creditor - about treating non-payers preferentially by defaulting them and not defaulting you because you are attempting to be responsible and deal with your debts - they would struggle to continue to mark CRA files with AP/AR and not backdate default markers. I think this because it is fact - completely ignore them, don't pay and you will get promptly defaulted. Act responsibly and try to pay even though you are in financial difficulty and they are penalising you.

Good luck with the ICO.:beer:

100kdeep · 6 July 2017 at 6:22PM

did you send a token payment letter or just call them up ? puzzcat

torheb · 6 July 2017 at 7:52PM

Hi everyone, just wondering if anyone has any experience of car leases while on DMP - we started our DMP with SC in June and have a lease car, it goes back in February but there will be an excess mileage charge when it goes back I'm trying to budget for saving for this but I'm really stressing about it and it's all I can think about - I know we'll need to save for a run around too so just can't see how we'll manage - has anyone added excess mileage charges to the DMP, its with alphera finance, it's my main stress at the moment and I can't think past it so if anyone has any experience it'd be really helpful - thanks

purplepaws · 6 July 2017 at 9:18PM

Hello torheb,
I don't know if it is any help but I only have experience of the 'excess mileage charge' bit - we got rid of the car before embarking on the DMP.
If you know the mileage charge, then go ahead and calculate what it will total. If you can, try to cut the mileage down as much as you can between now and when you will be telling the car company that you are handing the car back. (If you are more than 50% through your contract time period, you can just hand the keys back and walk away rather than waiting until the contract end, although you'll still need to pay off the excess mileage.)
There will also be a terrifying list of things you need to make sure are acceptable before handing the car back. Do not worry too much about putting new tires, fixing dents or repairing the windscreen - I have handed 2 different cars back in the last 12 months - the 1st one I fussed over for ages and spent a fortune on repairing everything, didn't bother with the 2nd, just gave it a wash. Was never contacted to pay towards the windscreen (that had a chip init) and to sort some superficial scratches on the doors.
In my experience, you will not be able to return the car until the excess charges are paid, which I had to pay over the phone before I could arrange collection. This was through Mini finance who use BCA as the collection and inspection company.
So, I'm guessing that you would not be able to add the excess mileage charge to a DMP? Sorry . . .

Puzzcat · 6 July 2017 at 9:48PM

January2015 wrote: »

Sorry to hear that Puzz - I honestly think if you put the argument I mentioned to a creditor - about treating non-payers preferentially by defaulting them and not defaulting you because you are attempting to be responsible and deal with your debts - they would struggle to continue to mark CRA files with AP/AR and not backdate default markers. I think this because it is fact - completely ignore them, don't pay and you will get promptly defaulted. Act responsibly and try to pay even though you are in financial difficulty and they are penalising you.

Good luck with the ICO.:beer:

I have quoted everything, still no joy!

Puzzcat · 6 July 2017 at 9:50PM

100kdeep wrote: »

did you send a token payment letter or just call them up ? puzzcat

I sent a letter every month with a £1 cheque.
Puzz

[Deleted User] · 6 July 2017 at 10:02PM

January2015 wrote: »

Hi spiffyiffy & CBC

The wording to use to request backdated defaults is to say something along the lines of....

I informed you in mmm-yyyy that I was in financial difficulty and took advice regarding entering a DMP. You have continued to mark my credit reference files with AR/AP (change to whatever is appropriate for your circumstances). Had I been irresponsible and ignored my debts, this account would have been promptly defaulted in YYYY.

As you are aware, default markers remain on credit agency reference files for 6 years from the date of default. However, as you are also aware AP/AR markers remain for a period of 6 years after the account has been settled. Therefore had I been irresponsible and ignored this debt the default marker would drop of my CRA files in xxxx.

This letter is a formal complaint because I therefore believe you are penalising me for being responsible and trying to deal with my debts. You are treating customers who fail to keep in contact with you, and who fail to make any attempts to repay their debts more preferably than me.

The solution I am seeking to this complaint is that you default this account and back-date the default on my CRA files to dd/mmm/yyyy

Creditors would struggle to put up an argument to this - because it really is treating people who don't pay or communicate preferably and that cannot be fair. I have won the argument with BC and NW. It didn't have to go to ombudsman but I think if it did even the ombudsman would struggle to agree with the banks.

Thanks, January:A. That sounds absolutely perfect:T. I'll definitely be using it with Lloyds.

Puzz, really sorry that it didn't work for you though. I'll risk it and see what happens, hoping that they'll see the sense of it. Sadly, Lloyds have given me more grief than all my other creditors put together so I'm not taking anything for granted.

Rebeccadougherty · 7 July 2017 at 7:34AM

Hi again all
Thank you for all the kind words. It's been so reassuring and I can't express enough my gratitude x still feeling a bit naff but not as bad x

At the risk of just seeming incredibly dense, please could someone advise about NEDCAB? I end up on North East Derbyshire CAB site which I assume is correct but I just cannot see any template letters at all. I just wanted to send a letter to advise I would be making lesser payment for a further two months. Thank you in advance sorry to be so dense! X

DMP Mutual Support Thread - Part 12

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