DMP Mutual Support Thread - Part 12

16364666869491

Comments

  • Thanks again Sourcrates

    I have:
    Argos - managed by Moorcroft - around 3 years old
    Barclaycard - sold to Hoist - around 2 years old
    Capital One - has been returned back to them and not heard anything from them for weeks - around 2 years old
    Next - still with them - April 2008
    Nationwide Overdraft - managed by ArcEurope - had the account for years and years
    DMP Started June 2016
  • Suseka97
    Suseka97 Posts: 1,562
    First Anniversary First Post Name Dropper
    Forumite
    Good Morning All.

    Another month on and the 'good' news today is that following my complaint to Halifax about the date of the original default, which was placed on my file in July 2014 -I've just had a call from Hfx to tell me that they were upholding my request to backdate and will amend my records to show the default date as July 2013 :j

    The guy I spoke to was actually very helpful and somewhat apologetic - he did explain that Hfx approach situations such as mine differently these days and therefore he felt my request to backdate was perfectly reasonable.

    So that means all our defaults are listed with a 2013 date and should fall off our credit file in 2019, a year after the DMP ends. Magic.
  • Suseka97 wrote: »
    Wise words and I too strongly encourage those entering into a DMP to give yourself breathing space and follow the advice being given by many of those already well into, or on the other side of, their DMP. We too entered into our DMP too quickly and whilst SC helped us work through our situation - they were very restrictive with our household outgoings and it was cut to the bone. I was sold on the idea that we would clear what was a significant debt in 5 years and felt so guilty about being in such a dreadful financial mess at the time, so went with it.

    Over the years we managed to put a little away for emergencies but as with CBC I would say we've just 'existed' rather than 'lived' the last 4+ years. I got so depressed at one point and stopped coming onto this forum and just let the DMP plod along. It's only now that we've hit the 1 year countdown milestone that I came back to this forum. I really wish I had done so sooner because I think I would have followed in the footsteps of those who chose to go self-managed. I would have reduced my payments, saved for F&Fs and lived a little.

    But we are where we are -and so if you are like me from the outset you feel that you would prefer to have SC or Payplan handle things - don't rush in. Stop your payments to creditors, send those letters with or without token payments and give yourself timeout. Save the £s for that rainy day (which will come) and set up the DMP when you are on a stable footing. Don't worry about the letters you'll undoubtedly receive - read posts on this thread (go back and read the many others) and know that you've got things in hand and all will be well.

    What a wonderfully heartfelt post, Suseka. Thanks so much for sharing your experiences with us:T. I empathise totally and am so happy for you that you can see the finish line:j


    I reduced my payments twice at review time during the 4 years I was with SC, just to cater for essential price-rises and to cope with genuine emergencies. I was still cutting my available money to the bone but marginally less so. Life became less stressful and I was happy that my debts were going down so quickly without me worrying about whether my money would end before the month did:eek:

    I'm now self managing with the intention of getting some F&Fs as soon as I manage to amass a bit of money to do so. I'm going to have to drop to token payments for a few months to do that but I'm excited at what lies ahead. It's all thanks to the wonderful people on this thread for turning the DMP journey into an adventure rather than a slog:j:j:beer:
  • Twins
    Twins Posts: 346
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Suseka97 wrote: »
    Good Morning All.

    Another month on and the 'good' news today is that following my complaint to Halifax about the date of the original default, which was placed on my file in July 2014 -I've just had a call from Hfx to tell me that they were upholding my request to backdate and will amend my records to show the default date as July 2013 :j

    The guy I spoke to was actually very helpful and somewhat apologetic - he did explain that Hfx approach situations such as mine differently these days and therefore he felt my request to backdate was perfectly reasonable.

    So that means all our defaults are listed with a 2013 date and should fall off our credit file in 2019, a year after the DMP ends. Magic.

    Well done Suseka97! That's fab news :T Can I ask what did say in your letter in order to get the date backdated? I too have requested this from PRA Group who have not defaulted me and so this information would be most useful in case I need to go back with different language.

    I saw that your DFD isn't really that far away. What a massive relief that will be when it comes around. I wish mine was so close. Onwards and upwards though :)
  • SilliSaug
    SilliSaug Posts: 8 Forumite
    Well, I have heard back from 3 of my 4 creditors.
    Halifax finally on board. They have written to say that they agree and will be sending my account to collections. They are going to default me and it will take a couple of months then the collections people will contact me.

    Creation agree but in the letter they say that they have on froze interest and charges for a year. I'll cross that bridge when I come to it.

    Virgin money agree. They will talk to stepchange but will still send me statements.

    That just leaves Smile. Haven't heard from them at all.

    Roll on the 1st of June to get the ball rolling!
  • Quick question, again! Sorry!

    I have two debts with original creditors, two with companies managing on their behalf and one that's been sold.

    Are the ones being managed likely to be sold on? I'm currently in payment plans with them at present? Or should I stop paying, wait for it to be returned to the original creditor and hope it gets sold on next time?

    I know the final goal is to have your debt sold so you can eventually negotiate F&Fs. I just want to know the best route to getting them sold.

    X
    DMP Started June 2016
  • Julie67
    Julie67 Posts: 2,362
    Combo Breaker First Post
    Forumite
    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 April 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
    Started Self Managed DMP 10th May 2017.
    Working hard to get rid of our debt.
  • sourcrates
    sourcrates Posts: 28,711
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    Quick question, again! Sorry!

    I have two debts with original creditors, two with companies managing on their behalf and one that's been sold.

    Are the ones being managed likely to be sold on? I'm currently in payment plans with them at present? Or should I stop paying, wait for it to be returned to the original creditor and hope it gets sold on next time?

    I know the final goal is to have your debt sold so you can eventually negotiate F&Fs. I just want to know the best route to getting them sold.

    X

    You can ignore the collection companies who are just managing your debt, they don't own the debt, so are an irrelevance to be honest.

    Nothing gets a debt sold on quicker than no payment or just token payment.
    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: »
    You can ignore the collection companies who are just managing your debt, they don't own the debt, so are an irrelevance to be honest.

    Nothing gets a debt sold on quicker than no payment or just token payment.

    Ok, I thought I was doing the right thing paying these people but as I say, the goal is to get it sold! I shall stop paying them. I assume the account will be passed back to the original creditor eventually for them to decide what to do next?

    My Capital One account was ignored and has been returned and Capital One have gone very quiet, I havent heard anything in a long time! x
    DMP Started June 2016
  • sourcrates
    sourcrates Posts: 28,711
    First Anniversary Name Dropper First Post Photogenic
    Ambassador
    Ok, I thought I was doing the right thing paying these people but as I say, the goal is to get it sold! I shall stop paying them. I assume the account will be passed back to the original creditor eventually for them to decide what to do next?

    My Capital One account was ignored and has been returned and Capital One have gone very quiet, I havent heard anything in a long time! x

    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.
    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
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards