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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 13,054Posts
    • 12,363Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    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 non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
Page 125
    • Littlebigmoose
    • By Littlebigmoose 7th Jan 18, 7:07 PM
    • 17 Posts
    • 59 Thanks
    Littlebigmoose
    I would put it all in a single letter

    Write and advise you cannot afford to pay anything for 6 months, but you are committed to paying off your debts and in order to support you, you formally request the account(s) are defaulted as promptly as possible. Make it clear you realise the impact this will have on your credit reference files, but you also have not taken the decision to enter a DMP lightly. Finally, just put that in order to ensure all your records for the account (s) are up to date you are also making a CCA request (use the correct wording which you can find on this site - sorry, don't have time to locate the link for you right now).

    Hope this helps
    Originally posted by January2015
    Thank you. One letter definitely sounds easier.
    GOAL: To build savings and be debt free
    (i) Emergency fund- £19.50/£1000
    (ii) 1% Challenge 2018- number 23
    (iii) Sealed Pot Challenge11 - number 014
    • Littlebigmoose
    • By Littlebigmoose 7th Jan 18, 7:08 PM
    • 17 Posts
    • 59 Thanks
    Littlebigmoose
    Does anyone know- Is it necessary to sign my signature on letters? I have always done this but I read somewhere that I shouldn’t as some creditors have been known to copy & paste when ‘making up’ documents
    GOAL: To build savings and be debt free
    (i) Emergency fund- £19.50/£1000
    (ii) 1% Challenge 2018- number 23
    (iii) Sealed Pot Challenge11 - number 014
    • motivated
    • By motivated 7th Jan 18, 7:15 PM
    • 2,510 Posts
    • 4,099 Thanks
    motivated
    Does anyone know- Is it necessary to sign my signature on letters? I have always done this but I read somewhere that I shouldnít as some creditors have been known to copy & paste when Ďmaking upí documents
    Originally posted by Littlebigmoose

    I always print my name on my letters to creditors. Just in case.
    M
    LBM £82,590 Jan 17/£79,148 Jan 18
    Short term goal £1021/£1796 / PDBX 18 # 31 - £910.43/£5,000
    52 week challenge VSP # 8 - £80.00
    SPC # 91
    / Save a penny a day 2018 # 02 - £15.00
    • sourcrates
    • By sourcrates 7th Jan 18, 9:34 PM
    • 13,054 Posts
    • 12,363 Thanks
    sourcrates
    Does anyone know- Is it necessary to sign my signature on letters? I have always done this but I read somewhere that I shouldnít as some creditors have been known to copy & paste when Ďmaking upí documents
    Originally posted by Littlebigmoose
    Makes no difference as there is no requirement for a signature on a copy of a credit agreement.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
    • Sazzie23
    • By Sazzie23 8th Jan 18, 8:01 AM
    • 2,615 Posts
    • 10,486 Thanks
    Sazzie23
    I posted yesterday and not received any replied yet. Just not sure if posting in the right place?

    We too have now received letters from PRA re mbna cc debts.

    Getting worried I will get a charge on property. Spent yesterday getting numbers together to submit to step change. Just really want reassurance this is best course of action. Had no contact with dca's or made any payments in 10 months. Just want to get it sorted now.
    50k debt - all unsecured
    Mortgage - approx 90k

    Can they put charge on property?
    Thanks for reading.
    Originally posted by Enough17
    Hi

    Well done for making a start at sorting it. Your debt sounds significant but a long way from being the most we've had on here so don't despair.

    Charging orders are possible, but very unlikely, they've been a rarity in the time I've been on the forum (4 years). I've had debts (about £16k ) with MBNA over different accounts and they've always been fine. But even if you did get a charging order they only apply if you sell, there's no compulsion to sell, just if you do, you have to arrange to pay them.

    MBNA did keep interest on at a low rate for ages for me but eventually gave up when I gave up paying ........

    Good luck. Stepchange is a great starting point maybe you'll consider self managed further down the line.

    Saz
    Debt -it's a fight that I'm winning, dealing with debt one day at a time.
    Estimated DFD August 2018 - 2031 - now 2027

    Guide dog Tess, missing Scotland 2 years

    DMP support no438.
    • hign10pines
    • By hign10pines 8th Jan 18, 12:12 PM
    • 373 Posts
    • 365 Thanks
    hign10pines
    How long should it take a creditor to default the account? My QQ debt which falls off my report in May 2018, that was just sold to Motormile, has 3 green ? on my report then D.

    I'm waiting for a response to the prove it letter before I do anything else as I'd like to drag it out til it falls off my account. Trying to find out when I last paid/made contact to see when it gets statute bared also.

    Student nurse 2018 to 2020
    Debt: DMP (with Payplan) £8194 - 6.6 years left
    • Anniee88
    • By Anniee88 8th Jan 18, 12:49 PM
    • 47 Posts
    • 117 Thanks
    Anniee88
    This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?
    • make_the_change
    • By make_the_change 8th Jan 18, 2:00 PM
    • 403 Posts
    • 2,216 Thanks
    make_the_change
    This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if itís a low amount?
    Originally posted by Anniee88
    I have a debt with Next and Capital One and both defaulted me and I havenít heard from them in nearly a year so neither have been getting anything from me.
    DMP Started June 2016
    • Anniee88
    • By Anniee88 8th Jan 18, 2:22 PM
    • 47 Posts
    • 117 Thanks
    Anniee88
    I have a debt with Next and Capital One and both defaulted me and I havenít heard from them in nearly a year so neither have been getting anything from me.
    Originally posted by make_the_change
    Ok thatís good, itís Ďscaryí getting the first default letter but I know I donít have to take any notice of it unless it says Ďaction before courtí or something like that. I have been swimming along for the past year and not getting anywhere (except paying off one loan) so trying to work overtime and build up a fund to pay them off in the next 2 ish years then I am literally never getting credit again.
    • sourcrates
    • By sourcrates 8th Jan 18, 2:36 PM
    • 13,054 Posts
    • 12,363 Thanks
    sourcrates
    This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?
    Originally posted by Anniee88
    Action through the courts for debt is actually quite rare, less than 10% of defaulted debt ends up in court, although that figure has risen this last year.

    As a rule of thumb, as long as you have some kind of payment plan in operation, or keep your creditors informed as to why you cant pay, seeking action through the courts wont happen, its usually old accounts that have been sold on a few times, and the new owner is been ignored, that get legal action taken against them, although it depends on the creditor.

    It costs money to take a debtor to court, the costs are added on to the debtors full balance, but if that person cant pay, then its just a waste of money.
    Last edited by sourcrates; 08-01-2018 at 2:39 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
    • Suseka97
    • By Suseka97 8th Jan 18, 2:58 PM
    • 162 Posts
    • 250 Thanks
    Suseka97
    Anyone got thoughts or opinions on this please.
    Tia
    Originally posted by kram
    We re-mortgaged with the same lender without any problem - but if you are looking at alternative lenders you may well struggle to get a good offer. Your credit file will have taken a hit and will indicate you are a 'bad risk' - so whilst they may lend, because a mortgage is secured on the house, they'll not be inclined to offer favourable deals. So best stick with who you're with and get the best deal you can for now.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • Suseka97
    • By Suseka97 8th Jan 18, 3:05 PM
    • 162 Posts
    • 250 Thanks
    Suseka97
    Okay, another update.

    I've still not heard back from LINK following my complaint about the (lack of) paperwork provided in response to the CCA request. They are, however, sending me reminders that I'm behind with payments.

    The PRA Group have replied to a similar complaint -but only to advise they have put the (3) accounts on hold again and are chasing Barclays for the information.

    So - it looks unlikely that I'll get the DMP up and running this month, which is fine by me (more money for the F&F pot) but I'm hoping to be able to move this on, one way or another, in February.

    It is surprising how the DCAs drag their feet at times, but I guess a symptom of having so many accounts - too many to handle methinks.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • January2015
    • By January2015 8th Jan 18, 4:08 PM
    • 1,805 Posts
    • 4,835 Thanks
    January2015
    This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if itís a low amount?
    Originally posted by Anniee88
    Hi

    I don't think the amount of an individual debt matters. As Sourcrates says, if you keep in touch with your creditors and either make some sort of payment or let know know why you are struggling it is highly unlikely for debts to get taken to court.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £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
    • hign10pines
    • By hign10pines 8th Jan 18, 4:30 PM
    • 373 Posts
    • 365 Thanks
    hign10pines
    So I've been told on another forum that MMF could give me a 'backdoor' CCJ. I am not getting anything through the post only email. Could they do this, don't I need court papers first, then set up a payment plan.

    The only reason I'm doing a DMP not a DRO is so I don't get any 'public information' on my report and therefore need a guarantor when renting.

    I have currently sent the 'prove it' letter then I'll ask for a statement of accounts to find out when I last made a payment, then I'll offer something like £1 a month for 6 months, then make an F&F offer
    Last edited by hign10pines; 08-01-2018 at 5:43 PM.

    Student nurse 2018 to 2020
    Debt: DMP (with Payplan) £8194 - 6.6 years left
    • leanne12345
    • By leanne12345 8th Jan 18, 4:31 PM
    • 78 Posts
    • 44 Thanks
    leanne12345
    Just out of interest while we are talking about court action, would courts need to see proof of things like income if it did go that far? I know I don't need to send pay slips etc. to dcas if they ask but would I need to show a court?
    • sourcrates
    • By sourcrates 8th Jan 18, 6:06 PM
    • 13,054 Posts
    • 12,363 Thanks
    sourcrates
    Just out of interest while we are talking about court action, would courts need to see proof of things like income if it did go that far? I know I don't need to send pay slips etc. to dcas if they ask but would I need to show a court?
    Originally posted by leanne12345
    You would fill in an income and expenditure form, and sign it to say it is a true reflection of your situation.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
    • leanne12345
    • By leanne12345 8th Jan 18, 6:48 PM
    • 78 Posts
    • 44 Thanks
    leanne12345
    You would fill in an income and expenditure form, and sign it to say it is a true reflection of your situation.
    Originally posted by sourcrates
    That's interesting, thanks
    • hign10pines
    • By hign10pines 9th Jan 18, 9:12 AM
    • 373 Posts
    • 365 Thanks
    hign10pines
    What sort of f&fs do you think I could get on £489 (motormile) & £589 (arc)? Also do I need to wait for Very to pass my account onto someone other than NCO before it will get defaulted?

    Student nurse 2018 to 2020
    Debt: DMP (with Payplan) £8194 - 6.6 years left
    • The_Analyst
    • By The_Analyst 9th Jan 18, 11:34 AM
    • 28 Posts
    • 24 Thanks
    The_Analyst
    This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if itís a low amount?
    Originally posted by Anniee88
    I think it depends on the company and how you address the default rather than the balance of the account.

    Back in my youth, I ignored a phone bill from Vodafone and they applied for a CCJ over the matter of £75

    6 years ago I entered a DMP and one of the accounts with HSBC was for £20k - because I was making regular (albeit small) payments, they defaulted me but were happy enough to avoid taking any further payment
    July 2011 - Total Debts £47,359.19
    July 2013 - Total Debts £36,092.19
    July 2015 - Total Debts £28,068.19

    Jan 2018 - Total Debts £10,415.89
    Jan 2019 - Total Debts £0
    • Billy12345
    • By Billy12345 9th Jan 18, 12:12 PM
    • 57 Posts
    • 85 Thanks
    Billy12345
    Hi all


    I've just had a call from PRA Group wanting to discuss my Barclaycard debt with them. They asked for personal information to confirm it was me and I politely told them I don't give out personal information over the phone.


    They are updating their system and will write instead.


    I agree that PRA seems to have bought a bulk of debt so wonder if they offer good F&F's hmmmm
    LBM August 2016 = £59k Getting there slowly but surely
    Aug - Dec 16 = £2,153.25 paid
    Jan - Dec 17 = £6,381.89 paid TOTAL PAID £8,535.14

    £50k remaining
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