DMP Offers Rejected

BrightLights14 · 11 August 2016 at 10:04AM

Hi there,

Hoping someone can help put my mind at rest. I've been on a DMP with Payplan for 3 years. I recently had my annual review and (as I've done every year), increased my monthly payments.

I recieved an email from Payplan earlier with the outcome of my offer to creditors. Barclaycard and Link Financial had accepted my offers, but Natwest/Westcot had rejected them. No explanation as to why.

This is the first time this has happened. Every other year all creditors have accepted my offers.

I called Payplan straight away and asked why the offers would be rejected. One of the reasons could be because the Natwest accounts (I have 5) were recently passed to Westcot, and this could be Natwest rejected them as they're no longer dealing with the debts. Do you think this is likely? Shall I call Westcot myself and find out?

All accounts were defaulted 3 years ago. I'm worried not that Westcot are managing the accounts they might issue CCJs. Is the likely? Has this happened to anyone (I know lots of Natwest accounts were bought by Westcot recently)? Or do we think this could just be because of the timings of my review/offer letters coinciding with the accounts being passed to Westcot?

I'm totally freaking out.

On the other hand, when Wescot wrote to me saying they'd purhcased the debts they explicitly said nothing in my plan had changed and to continue to pay the same amounts.

Just wondering if anyone has any ideas?!

sourcrates · 11 August 2016 at 10:16AM

Stop panicking, you are over thinking this big time !!!

Makes no difference if they accept your offer or not, you keep paying it anyway, they will either accept it eventually, sell the debt on again, or pass it back to natwest.

They don't just issue a CCJ, it must go through the court process, and why would they bother to go through all that expence just to receive the same monthly payment they are now ?

Think it through, dosent make any sense does it !!

Keep paying, don't ring anyone, all will be fine.

BrightLights14 · 11 August 2016 at 10:39AM

Thank you Sourcrates - this is probably my 3rd panicky post on the forum and the 3rd time you've talked some sense it to me!

Following my panic attack in the work toilets, I called Westcot directly (even though I didn't have the account reference numbers on me, they're on the letters at home) and they were so lovely! All is fine, I went through my offer and they've accepted it so I just need Payplan to get in touch and finalize the account set up.

I was worrying over nothing, as usual. This game is a rollercoaster.

debtfree12000 · 11 August 2016 at 12:09PM

Hi

I would not worry about this. I have been on a DMP with Stepchange for 3 years. Halifax have religiously rejected my annual review, however continue to accept payments. No CCJs, they are a lengthy process and to be honest, I doubt they would bother, once you are making some form of payment.

Halifax have put a default on my credit file, but that's the process they take. I would prefer to not engage in debt again so as long as I can manage to live I am not particularly bothered by the default.

Honestly, don't worry. Always remember they cannot take what you have not got! !

Cheers:beer:

Kevin

DMP Offers Rejected

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