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  • FIRST POST
    • fermi
    • By fermi 10th Jul 15, 7:32 AM
    • 39,175Posts
    • 46,999Thanks
    fermi
    DMP & Mutual Support Thread - Part 11
    • #1
    • 10th Jul 15, 7:32 AM
    DMP & Mutual Support Thread - Part 11 10th Jul 15 at 7:32 AM
    Welcome to the DMP mutual support thread.

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here. There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

    If you are in a DMP or thinking of one, this is the place to be. We are a non judgemental and all questions welcome.
    Originally posted by Sazzie23
    Once again the old thread was getting a bit large, so here is a fresh thread.

    The previous thread can be found here: Click ---> DMP & Mutual Support Thread - Part 10

    Or click here for the last page of posts on the old thread. ---> Last Page

    Sazzie23's fantastic post of the month winning post from the previous thread is repeated below.

    Best wishes with the DMPs everyone.
    Last edited by fermi; 12-07-2015 at 9:50 AM.
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
Page 248
    • alianza
    • By alianza 15th Mar 17, 8:29 AM
    • 24 Posts
    • 24 Thanks
    alianza
    cca request reply
    There were instances were application forms also doubled as credit agreements, but not always.

    You asked for a credit agreement, not an application form.

    Depends what it says on it, and what date is on it.
    Originally posted by sourcrates
    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?
    • sourcrates
    • By sourcrates 15th Mar 17, 12:45 PM
    • 10,288 Posts
    • 10,034 Thanks
    sourcrates
    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?
    Originally posted by alianza
    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 Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • henrryyyy
    • By henrryyyy 15th Mar 17, 12:50 PM
    • 30 Posts
    • 29 Thanks
    henrryyyy
    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
    • By January2015 15th Mar 17, 1:52 PM
    • 1,606 Posts
    • 4,475 Thanks
    January2015
    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.
    Originally posted by henrryyyy
    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 DMP now 26.58% paid. That means our debt is in the £60k's
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • MrsSammyB
    • By MrsSammyB 15th Mar 17, 8:10 PM
    • 21 Posts
    • 55 Thanks
    MrsSammyB
    My two pence worth in red above

    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.
    Originally posted by January2015

    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
    • January2015
    • By January2015 15th Mar 17, 9:35 PM
    • 1,606 Posts
    • 4,475 Thanks
    January2015
    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
    Originally posted by MrsSammyB
    But your letter did work - so it clearly said enough
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k DMP now 26.58% paid. That means our debt is in the £60k's
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • DancingUnicorn
    • By DancingUnicorn 15th Mar 17, 10:11 PM
    • 42 Posts
    • 32 Thanks
    DancingUnicorn
    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
    Originally posted by motivated
    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.
    Originally posted by January2015
    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!
    October 2016: £20,130
    March 2017: £19,560
    DFD: February 2024
    • sourcrates
    • By sourcrates 15th Mar 17, 10:35 PM
    • 10,288 Posts
    • 10,034 Thanks
    sourcrates
    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!
    Originally posted by DancingUnicorn
    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.
    Last edited by sourcrates; 15-03-2017 at 10:37 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • DancingUnicorn
    • By DancingUnicorn 15th Mar 17, 10:42 PM
    • 42 Posts
    • 32 Thanks
    DancingUnicorn
    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.
    Originally posted by sourcrates
    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.
    October 2016: £20,130
    March 2017: £19,560
    DFD: February 2024
    • henrryyyy
    • By henrryyyy 16th Mar 17, 6:57 AM
    • 30 Posts
    • 29 Thanks
    henrryyyy
    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.
    Originally posted by January2015
    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
    • By Keezing 16th Mar 17, 7:12 AM
    • 205 Posts
    • 153 Thanks
    Keezing
    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
    Originally posted by henrryyyy
    Light Bulb Moment, I.e. The moment you realised there was a problem and committed to solving it.
    • January2015
    • By January2015 16th Mar 17, 9:00 AM
    • 1,606 Posts
    • 4,475 Thanks
    January2015
    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
    Originally posted by henrryyyy
    It's your DMP. SC are there to help you. August is not really that far away. If you start on 1st August that is just delay the DMP by 4 months. In all seriousness do you think you have enough saved in an emergency fund should some catastrophe or other crop up? For example major car repairs, boiler breakdown, or something similar?

    SC are used to people needing to do this. Of course you can still contact your creditors directly. SC won't mind.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k DMP now 26.58% paid. That means our debt is in the £60k's
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • henrryyyy
    • By henrryyyy 16th Mar 17, 11:55 AM
    • 30 Posts
    • 29 Thanks
    henrryyyy
    It's your DMP. SC are there to help you. August is not really that far away. If you start on 1st August that is just delay the DMP by 4 months. In all seriousness do you think you have enough saved in an emergency fund should some catastrophe or other crop up? For example major car repairs, boiler breakdown, or something similar?

    SC are used to people needing to do this. Of course you can still contact your creditors directly. SC won't mind.
    Originally posted by January2015
    Thanks
    yeah I just kind of worry the longer I leave it the more likely they are to reject stepchanges(my) offer and sell it to a debt collector.
    I know getting an emergency fund is something I have to do to make this DMP a success, it just kinda feels like cheating saving up some cash while owing so much out. I cant even remember the last time I had a month where I never had to pay huge payments.

    I am going to tell Stepchange to start on August 1st and see what my creditors responses are. Im about ready to return my documents to SC.
    Im in 2 minds whether to wait til my next paydate(28th) before I send to SC and inform my bank in case my employer hasnt updated to my new bank account, although they said in email they have done it
    • Barbie61
    • By Barbie61 16th Mar 17, 11:59 AM
    • 9 Posts
    • 11 Thanks
    Barbie61
    Contact creditors
    Hi, your thread is very informative and supportive -thank you but I am confused because I thought StepChange contacted them for you?
    • Barbie61
    • By Barbie61 16th Mar 17, 12:02 PM
    • 9 Posts
    • 11 Thanks
    Barbie61
    Online management
    Hi can anyone tell me if the card companies/loan companies allow you to log in and check your statements after a DMP is set up? I don't receive paper copies any more so would be stuck if I can't log on

    Thank you
    • carbootcrazy
    • By carbootcrazy 16th Mar 17, 12:18 PM
    • 3,544 Posts
    • 19,932 Thanks
    carbootcrazy
    Hi can anyone tell me if the card companies/loan companies allow you to log in and check your statements after a DMP is set up? I don't receive paper copies any more so would be stuck if I can't log on

    Thank you
    Originally posted by Barbie61

    From my own experience, once an account is no longer active the creditors close internet access to it. I hadn't discovered this thread when I started my DMP and I wasn't ready for that. Had I known I'd have printed off any relevant previous statements and other information before I was prevented gaining access to it.


    I'm not sure if all companies do it but all mine certainly did


    What does happen though is that all my creditors send a paper statement, usually yearly, others more often. I think legally they have to keep you informed of your payments/balance in this way. I used to receive paper statements anyway, even though I used to check my accounts online too, so things may be different for paperless clients. I'm pretty sure that your creditors should mail something to you every now and then though, to fulfil their legal requirements.


    Sourcrates will know and will maybe come along soon and put you (and me!) right on this score
    Last edited by carbootcrazy; 16-03-2017 at 12:22 PM.
    Make £10 A Day Challenge 2017. Jan-Mar: £922.23. Apr: £317.79
    3-6 Months Emergency Fund Challenge #12: £1200.00/£3000. This is such hard going but I will do it.

    Original Debt: £56804 (@ LBM 02/13). Paid : £31743. Balance: £25061
    • sourcrates
    • By sourcrates 16th Mar 17, 12:21 PM
    • 10,288 Posts
    • 10,034 Thanks
    sourcrates
    Hi, your thread is very informative and supportive -thank you but I am confused because I thought StepChange contacted them for you?
    Originally posted by Barbie61
    Hi can anyone tell me if the card companies/loan companies allow you to log in and check your statements after a DMP is set up? I don't receive paper copies any more so would be stuck if I can't log on

    Thank you
    Originally posted by Barbie61
    Stepchange do contact your creditors, but creditors then tend to send two lots of correspondence, one lot to you, and one lot to stepchange.

    Usually your old accounts get closed, and you won't have access to them, you can request statements at any time, and your balances should be viewable via your stepchange online account.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • Dandytf
    • By Dandytf 16th Mar 17, 1:06 PM
    • 511 Posts
    • 267 Thanks
    Dandytf
    Hi can anyone tell me if the card companies/loan companies allow you to log in and check your statements after a DMP is set up? I don't receive paper copies any more so would be stuck if I can't log on

    Thank you
    Originally posted by Barbie61
    Some do some don't

    Natwide except non dmp mtg is no online for credit card and overdraft
    Barclays continued to be online approx 3 yrs before remaining balance passed elshere this year.

    Most credit card companies are no online during dmp though SC statements is your accurate upto date statement online includes all your dmp debts etc.

    Allow a few months then start to see the positive effect on reducing your debts.

    I use my yearly mortgage statement as motivation to see dmp through to 2019
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
    • heavenlyharry01
    • By heavenlyharry01 16th Mar 17, 4:43 PM
    • 64 Posts
    • 96 Thanks
    heavenlyharry01
    Hello

    Can I ask a question about phone calls from creditors?

    I have had two today to my mobile phone from the same DCA. I missed both calls as I was driving both times. First time they didn't leave a message, the second it was a recorded message asking me to call.
    I requested the original creditor not to contact me via the telephone, but corespond in writing. But now they have clearly handed it over to a DCA.

    Do you answer calls, and then tell them to write? Should I call back? Or wait for them to write, (which I'm sure they will if they can't make contact)?
    Thanks in advance
    • January2015
    • By January2015 16th Mar 17, 4:56 PM
    • 1,606 Posts
    • 4,475 Thanks
    January2015
    Hello

    Can I ask a question about phone calls from creditors?

    I have had two today to my mobile phone from the same DCA. I missed both calls as I was driving both times. First time they didn't leave a message, the second it was a recorded message asking me to call.
    I requested the original creditor not to contact me via the telephone, but corespond in writing. But now they have clearly handed it over to a DCA.

    Do you answer calls, and then tell them to write? Should I call back? Or wait for them to write, (which I'm sure they will if they can't make contact)?
    Thanks in advance
    Originally posted by heavenlyharry01
    Do what you feel comfortable with. If you feel up to calling them or answering their calls, advise them you are in a DMP and that you did notify the original creditor that all correspondence should be in writing and you will deal with them on the same basis. Tell them to put their enquiry to you in a letter and you will respond in a timely manner. You don't have to get into any further discussion about your account or your situation - just be firm and tell them to write.

    If you don't feel comfortable speaking to them on the phone then put the same information in a letter. You could wait for them to write, but either answering their calls or writing to them will stop the unwanted phone calls.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k DMP now 26.58% paid. That means our debt is in the £60k's
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
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