DMP & Mutual Support Thread - Part 11

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  • sourcrates
    sourcrates Posts: 28,717
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    alianza wrote: »
    Upon further perusal of the photocopies i have a question. (Had to take a photo and blow it up on my screen just to read them, I know they call it small print but it was miniscule.)

    On the first photocopy under data protection it tells me to read section 11 in the terms and conditions provided. In the second photocopy I have been given only sections 1 and 2 of the terms and conditions. No sections 3-11 and beyond if there were any. I would hazard a guess that they have not sent me the full information. What would be the next step?

    A correct response to a pre April 2007 CCA request, would be as follows :

    Copy (or reconstructed copy) of the credit agreement.
    Including the prescribed terms in force at the time of signing.

    If the prescribed terms are missing, then the agreement does not comply with legislation.

    So armed with that info, how can it benefit you ?

    Well, the law surrounding credit agreements in very complex, it would usually come down to a legal argument if it was enforceable or not, but in the case of your agreement, case law exists to say that it is unenforceable without the correct prescribed terms.

    So it's up to you how you progress with this to be honest.
    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-letter
  • henrryyyy
    henrryyyy Posts: 59 Forumite
    So reading through the last few posts that it takes 3 months of missed payments before companies have to default you.. I should just tell stepchange to start my dmp in June(or maybe July as my first missed repayments are due to be paid on 28th march, but the statement payby date on some CCs is like 17th april)

    should I literally tell stepchange i want my first payment on this date so i get defaulted? or just tell them this is the date I want it to start with no reason?

    I assume just because my accounts are currently "on hold" it wont mean me missing this months payment wont count as a missed payment?

    sorry for all the questions. on a side note Im shocked how nice and understanding my creditors have been, but then I guess they have to.
  • January2015
    January2015 Posts: 2,369
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    henrryyyy wrote: »
    So reading through the last few posts that it takes 3 months of missed payments before companies have to default you.. I should just tell stepchange to start my dmp in June(or maybe July as my first missed repayments are due to be paid on 28th march, but the statement payby date on some CCs is like 17th april)

    should I literally tell stepchange i want my first payment on this date so i get defaulted? or just tell them this is the date I want it to start with no reason?

    I assume just because my accounts are currently "on hold" it wont mean me missing this months payment wont count as a missed payment?

    sorry for all the questions. on a side note Im shocked how nice and understanding my creditors have been, but then I guess they have to.

    Companies should consider defaulting after 3 months. You will also read on here that many companies take a lot longer than that, and some companies just keep putting AP (arrangement to pay) markers on credit files.

    If I were you I would tell SC you want the start date to be August or September. Not because you want defaults but because you need to build an emergency fund. I would then write to all the predators and advise when the payments from SC will start and state that as you are clearly unable to meet the contractual requirements for the account(s) you are formally requesting they move to record a default as soon as possible.

    What predators should do and what they actually do are completely different things.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • MrsSammyB
    MrsSammyB Posts: 21 Forumite
    My two pence worth in red above :beer:

    Link to where I quote ICO


    Edit: I changed bit about credit score - no such thing really. It's just a score the credit reference agencies generate. Lenders make their own decisions and a CRA score is pointless in that respect. It's the information recorded on your CRA files that is important...not a ficticious score.


    You guys are clearly better at this than me and I may pinch this for when creditors won't entertain my complaints! Mine was around 10 lines long and told them my complaint and how I wanted it resolved. Best of luck xx
    Mrs B ❤️

    LBM May 2015 - Stepchange DMP started August 2015
    Debt May 2015 £43,464
    Current (Feb 2017 £32, 328
    :beer:
  • January2015
    January2015 Posts: 2,369
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    MrsSammyB wrote: »
    You guys are clearly better at this than me and I may pinch this for when creditors won't entertain my complaints! Mine was around 10 lines long and told them my complaint and how I wanted it resolved. Best of luck xx

    But your letter did work - so it clearly said enough ;)
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • motivated wrote: »
    Well done for getting your DMP all sorted. My first payment is also 1st April. Ill meet you at the starting post. I'm actually excited about getting started too :)
    Good luck with your journey and keep reading, I have learnt so much on this site especially this thread. The support and advice is amazing.
    M

    Glad I'm not the only person excited about starting something most people view as a negative position to be in. I'm being positive, though, and admitting I got myself into this mess and I'm finally doing something about it. Good luck, I hope to keep seeing you pop up with updates how your DMP is going.
    Don't assume all predators agreed to 0%. Check your statements/letters and keep chasing until they do agree to zero interest.

    Barclaycard refused to zero interest on one of our accounts because we were paying 0.03% above the minimum 1% they set as a bar for zeroing interest, i.e. you have to pay 0.99% or less. So we moved to £1 payments. Been at this rate for over a year now. They stopped interest and we got all interest charged refunded (back to start date of DMP) but it was a battle of multiple letters and threats from us. We got there eventually though.

    StepChange won't let you play tactically like this - which is why, after one year of being with SC we went self managed.

    Fingers crossed for you that you don't have any problems - but do keep an eye on all accounts.

    Hi, I actually got another email from SC today with a template of the letter they "recently sent" to each creditor. It says in this letter "please consider stopping or reducing interest charges to allow our client to repay their debts in a reasonable period of time". I think this is a bit too nice if I'm being honest!

    However, 3 of my debts are with Halifax who have already stopped charges (and actually just refunded me £57 in charges they took after agreeing to stop) and the other is with Wescot who haven't charged me any interest since taking over from Natwest around October time, so I don't see them starting to now.

    I will keep an eye on this though so thank you for highlighting it!
    LBM: October 2016: £20,130 / Current: May 2019: £12,576 37.53%
    DFD: [STRIKE]February 2024[/STRIKE] April 2022?
  • sourcrates
    sourcrates Posts: 28,717
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    edited 15 March 2017 at 10:37PM
    the other is with Wescot who haven't charged me any interest since taking over from Natwest around October time, so I don't see them starting to now.

    I will keep an eye on this though so thank you for highlighting it!

    Debt collection agencies cannot charge you interest on consumer credit debts.
    Once an account defaults, that balance is frozen.

    Even if the account has not yet defaulted, interest cannot be charged by any 3rd party collector unless the original agreement allows them to do so, 99% of consumer credit agreements do not allow this.

    If in any doubt, check your agreement, that is the basis on which a creditor can or can't act, nothing else.
    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-letter
  • sourcrates wrote: »
    Debt collection agencies cannot charge you interest on consumer credit debts.
    Once an account defaults, that balance is frozen.

    Even if the account has not yet defaulted, interest cannot be charged by any 3rd party collector unless the original agreement allows them to do so, 99% of consumer credit agreements do not allow this.

    If in any doubt, check your agreement, that is the basis on which a creditor can or can't act, nothing else.

    Thank you, I did not know this! This is the only account (well two accounts consolidated by the debt collector acually) that hasn't defaulted yet. From what everyone here is saying, I am guessing I need to chase this up in the next few months and try to get it defaulted so that it lasts 6 years from now, and not from when I pay it off.
    LBM: October 2016: £20,130 / Current: May 2019: £12,576 37.53%
    DFD: [STRIKE]February 2024[/STRIKE] April 2022?
  • henrryyyy
    henrryyyy Posts: 59 Forumite
    Companies should consider defaulting after 3 months. You will also read on here that many companies take a lot longer than that, and some companies just keep putting AP (arrangement to pay) markers on credit files.

    If I were you I would tell SC you want the start date to be August or September. Not because you want defaults but because you need to build an emergency fund. I would then write to all the predators and advise when the payments from SC will start and state that as you are clearly unable to meet the contractual requirements for the account(s) you are formally requesting they move to record a default as soon as possible.

    What predators should do and what they actually do are completely different things.

    So I should tell StepChange I want it to start in August so I can get an emergency fund built up? or literally just say i want to start in august(seems a long way away). StepChange wont mind me making contact with my creditors either?
    What does LBM stand for? I see it on peoples signatures but cant figure it out
  • Keezing
    Keezing Posts: 322
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    henrryyyy wrote: »
    So I should tell StepChange I want it to start in August so I can get an emergency fund built up? or literally just say i want to start in august(seems a long way away). StepChange wont mind me making contact with my creditors either?
    What does LBM stand for? I see it on peoples signatures but cant figure it out

    Light Bulb Moment, I.e. The moment you realised there was a problem and committed to solving it.
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