DMP Mutual Support Thread - Part 12
Comments
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sourcrates wrote: »Sometimes creditors go quiet for years, then all of a sudden it will get sold on in a batch with other accounts, and the new owner will start working there way through them.
They buy cheap, so can afford good discounts, usually they offer them after the usual "pay up or else" letters.
Ok, so I should filter that money into a fund instead of paying the companies that are just managing the account, wait for the account to be sold and then work from there?DMP Started June 20160 -
Hi All,
I wonder if anyone can answer a question for me.
My husband had a debt with TSB sold onto DLC. They have been totally inconsistent and confusing in all their correspondence so we wrote to them on 12th August and requested the CCA. The cashed the £1 cheque more or less straight away but we have heard nothing since.
This morning the have wrote to say
Whilst managing your account , we've identified that you didn't receive all of the statements from us that you should have. During this time interest was applied to your account.
As we didn't notify you that we applied interest, we're pleased to confirm that we have removed the interest applied during the period we didn't send you your statements.
This has reduced the balance to £622.57. The original debt was £1500.
They do not mention the request for CCA or refer to it in any way.
Would we assume that they can't come up with it? and are just trying it on to see how much they can get?
What would be your next step? Thanks for any help
Sorry to be a pain, can anyone help with this? We actually wrote to them in August last year with the CCA request and this is the first we have heardStarted Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0 -
Sorry to be a pain, can anyone help with this? We actually wrote to them in August last year with the CCA request and this is the first we have heard
Write and remind them that your CCA request remains outstanding.
The full debt is currently unenforceable until they do respond.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you SourcratesStarted Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0 -
Hey Everyone -- Newbie here!
Looking for some advice on my DMP of anyone would be so kind to help!
Entered into a DMP with StepChange back in Jan/Feb time. Total debts around £27,000 and currently paying back £716 each month. So far so good!
In order to get rid of this debt ASAP I've picked up some extra work part time and am able to save along side my regular incomings.
My question is - am I better giving this money to StepChange on a monthly basis? Or would I be better saving up till the end of the year and pay a bigger sum? Or shall I wait till I'm almost near the end of my DMP and use the money to settle earlier?
Not really sure what is the best option and just want to do what will be more beneficial and get the debt paid off quicker!
Thanks in advance!0 -
DMP_Newbie_91 wrote: »Hey Everyone -- Newbie here!
Looking for some advice on my DMP of anyone would be so kind to help!
Entered into a DMP with StepChange back in Jan/Feb time. Total debts around £27,000 and currently paying back £716 each month. So far so good!
In order to get rid of this debt ASAP I've picked up some extra work part time and am able to save along side my regular incomings.
My question is - am I better giving this money to StepChange on a monthly basis? Or would I be better saving up till the end of the year and pay a bigger sum? Or shall I wait till I'm almost near the end of my DMP and use the money to settle earlier?
Not really sure what is the best option and just want to do what will be more beneficial and get the debt paid off quicker!
Thanks in advance!
Hi and welcome :wave:
I can see you've already asked this question here
Sourcrate has given you the perfect answer already, but just to clarify - don't pay more than you need to each month to your DMP, save all extra money you are able to, use the extra money either for an emergency fund (you will need one), or use it to offer full and final settlements directly to creditors as and when you can (don't go through stepchange for these offers because they will want to 'share' fairly amongst your creditors whereas by going directly to creditors you can pick them off one by one as you can afford it.DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j0 -
I know my husbands credit rating will be damaged by my dmp but just how bad?? DH mentioned car insurance last night and what would happen if the engine in the car blew? I never thought about this. Bad, I know:eek:. What have your experiences been? OH still able to get car insurance, car finance.
Just when I was starting to relax a bit, I'm back to a nervous wreck:(0 -
I know my husbands credit rating will be damaged by my dmp but just how bad?? DH mentioned car insurance last night and what would happen if the engine in the car blew? I never thought about this. Bad, I know:eek:. What have your experiences been? OH still able to get car insurance, car finance.
Just when I was starting to relax a bit, I'm back to a nervous wreck:(
Is it your personal DMP just in your name? If your husband isn't involved via debts in joint names I wouldn't imagine his credit rating would be affected in any way by your personal debts.
I might be totally wrong on this as have no experience of joint debts, if that's what you and your husband have. I hope sourcrates or January will be along to put you right. What I do know is that my DMP is my own as are all my debts. OH's credit score is perfect and always has been throughout my DMP:j0 -
The debt is in my name along with the dmp but we do have a joint mortgage and a joint current account which is rarely used. We have our own separate accounts which our pays goes into. Mine is a basic account which I opened before the dmp was set up.0
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The debt is in my name along with the dmp but we do have a joint mortgage and a joint current account which is rarely used. We have our own separate accounts which our pays goes into. Mine is a basic account which I opened before the dmp was set up.
Sorry, I'm not really sure of the answer to your original question after what you've added here:o. I'm sure one of the 'regulars' who are so knowledgeable about all things DMP will be able to help you:)0
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