DMP & Mutual Support Thread - Part 11

January2015 · 4 March 2017 at 10:25PM

Debtfreehopeful wrote: »

Hi January2015,
I've just re-read the letter and it says that I have 60 days to contact them- if I don't then they'll register a default. So I guess I'll just do nothing and wait- and just carry on with my DMP as I intended...:)

Exactly - do nothing

I could bet you a pound to a brass penny you will still not be defaulted by BC before Christmas - they are awful at defaulting in a timely manner.

Debtfreehopeful · 5 March 2017 at 9:26AM

I shall keep you posted! I've got Tesco Bank and Santander in my mix too so will be tough to get them accounts defaulted too!

BeingDebtFreeStartsHere · 5 March 2017 at 5:41PM

Hope you all don't mind me posting this on here but there is a wealth of knowledge on this thread

We submitted a PPI claim against Nationwide a few years ago but unfortunately it was declined. We referred this to the FOS but again the appeal was rejected

I have been reading with interest the recent developments following the Plevin case and note that we may potentially be able to claim based on the fact that the PPI commission was high and was not communicated to us. I guess this will depend on what Nationwide's commission rate on PPI was at the time.

My question is I cannot find the info with my loan details on. Is there a way I can get this info? The loan was taken out in 2000. I was thinking of contacting the FOS to see if they still have the info from the appeal on their system. What do you think is the likelihood?

Thanks in advance.

BDFSH x

henrryyyy · 6 March 2017 at 2:56AM

I am seriously considering applying for a DMP but have a few concerns. My debts are secret and only one very close friend knows about my struggles, I do not want my family finding out.
I have filled out all the stepchange details on their website and they have given me a plan, but I have not applied for their DMP pack yet.

Will me entering a DMP affect my family members ie blood relatives(who I live with) chances of getting a mortgage?
How likely is it I'll get contacted by debt collectors?
I'm guessing if stepchange make more than my minimum payment on some accounts then those accounts wont be in default, but will the credit company get scared seeing a dmp and try to sell the debt still?
When I applied for my last short term loan I stated I was not considering a DMP which I wasnt and wasn't struggling with debt, which I was, but this was only like a week ago(I used the money to pay another loan that was due) will there be any fallout from this?

From Stepchange:
Income £1500
Monthly Outgoings £722
Monthly Contractual Payments £1063
12 creditors
Total debt £25,594
They reckon 2 years 9 months it'll take to pay off, which is incredible as I've probably been struggling for 10+years.

I really need to try to do this without my family finding out, is this possible?

sourcrates · 6 March 2017 at 1:29PM

henrryyyy wrote: »

I am seriously considering applying for a DMP but have a few concerns. My debts are secret and only one very close friend knows about my struggles, I do not want my family finding out.
I have filled out all the stepchange details on their website and they have given me a plan, but I have not applied for their DMP pack yet.

Will me entering a DMP affect my family members ie blood relatives(who I live with) chances of getting a mortgage?
How likely is it I'll get contacted by debt collectors?
I'm guessing if stepchange make more than my minimum payment on some accounts then those accounts wont be in default, but will the credit company get scared seeing a dmp and try to sell the debt still?
When I applied for my last short term loan I stated I was not considering a DMP which I wasnt and wasn't struggling with debt, which I was, but this was only like a week ago(I used the money to pay another loan that was due) will there be any fallout from this?

From Stepchange:
Income £1500
Monthly Outgoings £722
Monthly Contractual Payments £1063
12 creditors
Total debt £25,594
They reckon 2 years 9 months it'll take to pay off, which is incredible as I've probably been struggling for 10+years.

I really need to try to do this without my family finding out, is this possible?

Hi,

If all the accounts are in your name, how would anyone else know anything about them ?

Your debts are your debts, no one else's, debt is not attached to any particular property, they are exclusive to you, no one else.

Creditors do not get "scared" they make buisness decisions, debts are bought and sold all the time, you may or may not get contact from a DCA, if your paying via a DMP then it's possible but unlikely.

henrryyyy · 7 March 2017 at 8:32AM

sourcrates wrote: »

Hi,

If all the accounts are in your name, how would anyone else know anything about them ?

Your debts are your debts, no one else's, debt is not attached to any particular property, they are exclusive to you, no one else.

Creditors do not get "scared" they make buisness decisions, debts are bought and sold all the time, you may or may not get contact from a DCA, if your paying via a DMP then it's possible but unlikely.

Hi thanks for replying,
I'm just worrying about things, I haven't got a bad credit file, I have in the sense of high unsecured debt and high number of applications, but have no missed payments as I have been borrowing from a to pay b, so have never really worried about the effect it could have on family members, I always thought that my address would become "blacklisted" if I showed up missed payments.

I have just submitted the debt remedy tool on stepchange and requested the information pack

Ive read through a lot of the posts on this thread, and the positiveness and good endings that people have posted on here is really encouraging, in 3 years hopefully i'll be one of those with a good ending to post

Dandytf · 7 March 2017 at 10:04AM

1st SC review in a few years.

Very straight forward,resisted tempting offer to reduce payments.

Decided to continue with the plan term and payments &#55358;&#56612;

S1Ebbz · 7 March 2017 at 12:47PM

Quick question....is it better now SC have confirmed sent communication to creditors to address the daily phone calls and tell them the same information ..... Working with SC and my reference is....

January2015 · 7 March 2017 at 4:35PM

S1Ebbz wrote: »

Quick question....is it better now SC have confirmed sent communication to creditors to address the daily phone calls and tell them the same information ..... Working with SC and my reference is....

Yes - that's what I would do - and whilst speaking to them I would request all further communication is put in writing and they make a note that you do not want any further telephone calls.

Bowkers · 7 March 2017 at 7:05PM

Hello all,

Just about to start DMP. I need to set up a basic bank account but I'm petrified that I won't be accepted for even a basic bank account as my credit file is so bad. Has anyone had experience with any banks that are ok with you being on DMP or is it generally a no-no to even mention DMP while trying to open a basic account?

Thanks in advance for the replies.

DMP & Mutual Support Thread - Part 11

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