default notice

pie_man_2

hi i have just recieved a default notice from cap1 today ,i am on a dmp with payplan just started 16 june ,also recieved a leter saying the account has been set up on the reduced payment plan can anyone advice me if i need to do anything or is it normal procediur. thanks

di3004

pie_man wrote: »

hi i have just recieved a default notice from cap1 today ,i am on a dmp with payplan just started 16 june ,also recieved a leter saying the account has been set up on the reduced payment plan can anyone advice me if i need to do anything or is it normal procediur. thanks

Hi there

I missed one payment, and they still taken the token payment for this, and received a default notice by 3 weeks.
Have they given a certain date on yours?
Mine they have given 14 days from the letter, but with advice from here, I was told this was procedure.

Someone will be along soon I expect to give you some advice on this, good luck.;)

pie_man_2

im just bumping it up ,its weekend no one at payplan to answer my question just need to put my mind at reast

di3004

pie_man wrote: »

im just bumping it up ,its weekend no one at payplan to answer my question just need to put my mind at reast

Hi there

While your waiting for a response from others in regards of payplan, here is the link here to the actual site of payplan which may give you details as well.;)
http://www.payplan.com/

Also the CCCS
http://www.cccs.co.uk/

And the national debtline
http://www.nationaldebtline.co.uk/

Deep_In_Debt

Hi
Not sure if this helps but when I started my dmp I received various default notices and have heard nothing more in that respect and I started my dmp in January last year so I wouldn't worry too much. Normally means they are going to sell it on to a DCA which can actually work in your favour.

I think it is just procedure - basically, you've broken the terms of your contract with them by making reduced payments.

di3004

Deep_In_Debt wrote: »

Hi
Not sure if this helps but when I started my dmp I received various default notices and have heard nothing more in that respect and I started my dmp in January last year so I wouldn't worry too much. Normally means they are going to sell it on to a DCA which can actually work in your favour.

I think it is just procedure - basically, you've broken the terms of your contract with them by making reduced payments.

Hi Deep In Debt.

The letters I received in just one month of doing this, always state they have moved on to the DCA, or the recovery department, wish they would hurry up then, because I still also receive those letters that they are unable to accept the token payments.

Since receiving our first default notice the other week, we have since received the letter from lloyds tsb so called solicitors, have been told that these are just lloyds workers acting as their solicitors lol.
Was told this is procedure as well, because it does not mean we have to go to court.

Deep_In_Debt

Hi di

A default notice is usually sent out when you break the terms and conditions of the original agreement - i.e. you are on a dmp and making reduced payments, you've missed a couple of payments - you've basically defaulted on the original agreement by doing this.

It does not mean you have to go to court, but once a default notice is issued, they could take you to court for reasons I set out above. It just could get the ball rolling legally but I wouldn't worry too much at this stage. As I say, it's nearly 18 months since I had my first default notice and that particular creditor was my largest and accepted my dmp immediately.

It is really a formality for creditors to issue these - just crossing the t's and dotting the i's.

maxinelouise

hi
i also have a dmp, and having just changed from one company to another am having the same,think its normal and try not to worry about it to much,as soon as you,re payments start and they,re getting something each month the letters will slow down,then stop.
good luck

di3004

Deep_In_Debt wrote: »

Hi di

A default notice is usually sent out when you break the terms and conditions of the original agreement - i.e. you are on a dmp and making reduced payments, you've missed a couple of payments - you've basically defaulted on the original agreement by doing this.

It does not mean you have to go to court, but once a default notice is issued, they could take you to court for reasons I set out above. It just could get the ball rolling legally but I wouldn't worry too much at this stage. As I say, it's nearly 18 months since I had my first default notice and that particular creditor was my largest and accepted my dmp immediately.

It is really a formality for creditors to issue these - just crossing the t's and dotting the i's.

Hi Deep In Debt.
And thanks for this.;)

Hope you don't mind me posting here as well Pie Man, thought the information would be useful for you as well.

I was just surprised to receive a default notice just for missing one payment, even though they taken the token payment, as no plan is in place yet, but subject for review with the CCCS, it was actually 3 weeks after the repayment was due, as its all new to me as well, just didn't know what to expect, but like you said, its really formality for them to issue these.

Cheers.;)

Deep_In_Debt

Hi di

Some creditors will issue a default notice immediately, some take a while - it took one of mine about 4 months of reduced payments before they issued a default notice.

As above poster says, it is just a procedure and once a payment plan is in place, and they see regular payments for a few months then chances are, it will all be ok. However, if you were to "default" on a payment plan, that's when they could take you to court.

I guess a default notice is a sort of warning - a kind of "don't let it happen again...or else..."

di3004

Deep_In_Debt wrote: »

Hi di

Some creditors will issue a default notice immediately, some take a while - it took one of mine about 4 months of reduced payments before they issued a default notice.

As above poster says, it is just a procedure and once a payment plan is in place, and they see regular payments for a few months then chances are, it will all be ok. However, if you were to "default" on a payment plan, that's when they could take you to court.

I guess a default notice is a sort of warning - a kind of "don't let it happen again...or else..."

Thank you Deep In Debt.;)

Think this is the first day we have not received any letters from Lloyds TSB lol, we have about 30 of them now in just a month, most of them to state they are unable to accept payments.
I'm sure it will all sort out in the end, cheers so much for the info.;)