Without a paddle... support for anyone starting a DMP in 2010 (part2)

mikon

Here is another question for everyone on this thread.

Do you think the banks, cc, dca's have people on this forum reporting back to them? I am a bit of a conspiracy person, and I think they do. I bet they conduct daily searches to see what people are saying. What's your thoughts.

Bit worrying news

On a separate matter some guy on another thread on a DMP has been paying regular payments to MBNA out of the blue he has received court papers in relation to the debt. Quite frightening I just wonder if they are tightening up on matters. Why when they have been receiving regular payments would they do this.

Regards

newbeginning_2

What's the other thread Mikon?

Personally I think it depends more on personal circumstances ... such as how much is owed, how much is being paid, etc

mikon

The thread is at

https://forums.moneysavingexpert.com/discussion/2522779

Have a look for merecats post.

Professor_Pat_Pending

mikon wrote: »

Here is another question for everyone on this thread.

Do you think the banks, cc, dca's have people on this forum reporting back to them? I am a bit of a conspiracy person, and I think they do. I bet they conduct daily searches to see what people are saying. What's your thoughts.

Bit worrying news

On a separate matter some guy on another thread on a DMP has been paying regular payments to MBNA out of the blue he has received court papers in relation to the debt. Quite frightening I just wonder if they are tightening up on matters. Why when they have been receiving regular payments would they do this.

Regards

Am sure I read somewhere that there are quite a few representatives from the Banks trawling this website, no surprise really.

Re. the MBNA legal thing, as has been already stated, would depend on how much you are repaying, how much you owe, etc.
It costs around £1500 to take the matter to court, so I would have thought you would need to be owing biggish sums (£5k+) for them to be able to justify it. Can't see the point though, if you are on a DMP the judge is bound to side with us?

It is interesting though, how many CC companies are keeping their debtors now, rather than selling them onto DCAs and declaring them as bad debts.
Economic situation, etc, ie, they want their money back. PP

gabriella90

OOOOOH i don't like reading about CCJs makes me all nervous. Especially as we're talking about MBNA. i owe about 4500 and paying £50 a month, ,must ring them to find out about the online thing. What is your guys take on defaults i haven't had any issued yet well not sent to me on paper anyway. Is it better to be defaulted so we can get good F&F's the jury is still out for me!

ANyways Nearly lapsed into my old habits today, had a £10 voucher for website very lovely things always reduced. with all my will i had to stop myself buying a pair of shoes it would have cost me another £27 on top got that crazed buying feeling and the joy of clicking away but then realsied my budget would be completely messed up so came off the page and went and made a cup of tea. quite liberating but so hard where i would have just put it on the old CC.

Only another week until payday few!!

hope your tuesday has been ok. Off to ring MBNA !!

mikon

gabriella90 wrote: »

What is your guys take on defaults i haven't had any issued yet well not sent to me on paper anyway. Is it better to be defaulted so we can get good F&F's the jury is still out for me!

Gabrielle90

Defaults are what creditors issue after you have not met your contractual agreement monthly payments normally they issue them after approx 2 months payments. I have been informed it is better to get them earlier rather than later as they are registered against your credit rating and remain there for 6yrs. I believe a creditor can only register 1 default against each debt.

Creditors by law must write to you and inform you that they are Defaulting you and they normally send you a Default Notice.

These Default Notices drag your credit score down and prevent you from getting credit, however if your on a DMP you should not be seeking to take out new credit and after you have finished your DMP you should never ever want to get credit again.

I think that explains what the Default Notice is, if anyone has anything to add please feel free to.

gabriella90

hi Mikon,

Thanks for the default blurb. Agree with you about getting the default sooner rather than later. I have been paying on the dmp for 6 months now but no defaults and no further correspondance. No news is good news u guess? I checked my credit rating and i have AP on each month.

I rung MBNA no change still on normal payments but when i went through the automated system it said my balance was £0:eek:. I wish:rotfl::rotfl:

I think i'm going to ring again just to double check :rotfl:

mikon

Gabrielle90

What do you mean your credit score is showing AP???? What is AP????

eyeopener2

mikon wrote: »

Gabrielle90

What do you mean your credit score is showing AP???? What is AP????

AP - Arrangement to Pay.

mikon

Eyeopener2

Thank You