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bakerfa

Hi

I have been paying monthly payments on a DMP with Payplan since June 06. I got my Equifax report today and I have quite a lot of defaults (I tried using credit to pay off credit back then), but most of my default dates are in September 2006. Does that mean they fall off my credit file in September? Should I keep paying the DMP as that isn't supposed to finish until 2016?

Please help.

Also La Redoute hasn't defaulted me but keeps listing as a late payment every month - surely that means my credit file is poor for the 6 years so far, poor for another 4 years until paid off (if that's what I need to do) and then poor for another 6 years after that until clear again! Can they do that?

bakerfa

I've been on Payplan DMP 6 years, 4 years to go...

My default notices fall off in September. I rang cus serv to see about what happens with those debts as I was under the impression that they could still write to me but couldn't CCJ, blacklist, take me to court etc. after the 6 years were up. Ruth said that they could take me to court at any time and that I would have to continue paying for another 4 years.

What's the correct answer?:(

System

rdchick wrote: »

Hi everyone,

So been here a while on and off but I have royally screwed up this time! I am thinking a DMP would be best and the debt remedy agrees with me. I haven't started missing payments yet but that's because I've taken the usual road of PDL's (joys) so now I'm super in the poop!

Anyways not too worried about the money stituation as it's just money, I can pay it back but it's the bombardment of phone calls to the house line I am most worried about. My partner knows I am in debt, sure everyone knows I'm in debt and I will tell him about the DMP when I get on it but I was wondering when do you have to apply for one - do you have to bounce for months before people take you seriously and before CCCS can help? as that will be when the phone calls come.

The reason I don't want calls to the house phone is that my partner will go mad at the people on the end of it - not fun, so is there a way of nipping that in the bud?!

And can someone tell me when can I get myself on a DMP - the sooner the better! xxx

Hi rdchick and thanks for your post.

If Debt Remedy has suggested a DMP is the correct advice you can just follow the process online and press proceed. We’ll set the DMP as quick as we can, you don’t need to be behind on payments to start a DMP.

In regards the creditors calling you, the normal debt collection process will start once you miss your first contractual payments which you will do once you start the DMP.

There are a couple of ways of dealing with this. You’re completely within your rights to block telephone numbers on your phone and you can also write to each creditor asking them to remove your telephone number from their system and only correspond in writing.

You must continue to open any letters they send and reply to them if needed, once your DMP is set up with us we also will have correspondence with your creditors.

We wrote a blogpost on this subject which is worth reading, the comments hold more information too.

http://moneyaware.co.uk/2011/06/what-to-do-when-creditors-keep-phoning-you-2/

Good luck with your DMP.

I hope this helps.

Kind regards,

Mat

System

llecky wrote: »

we have a bit of debt but was always managable but cicumstances have changed the work is not there at the moment to keep up payments on any thing.
i had to give back my car and we are under more and more preasure from creditors.
when i handed back my car i was only 3 payments off doing the full 48(i could of handed the car back at this point and walked away but just could not afford the payment) they sold the car and have managed to get £6000 judgment against me, i offered them £100 a month which under the circumstances was all i could afford.
They asked the court for more the court entered the judgment but must have objected to their request for more as they set the repayments to £1 a month
last month they appealed the orginal decision the £1 remains the same i have not missed any payments they are trying to get a charging order on my house.
any idea what i do next?
one thing that may be of interest to others i have 2 credit cards with MBNA and Lombard which i am behind on, i am in the process of trying to get the PPI back which i hope will clear them.
the documents from the court show both Lombard and MBNA have an interest in my house this was the first i had heard of it.
what is there aim ?
should i fight this order?
they have asked my wife to confirm she has recived the documents and that she does not object to the charge( should she do that)
any help would be very gratefully recieved

Hi llecky and welcome to the forum

It sounds like you would benefit from some free and impartial advice.

I’d recommend that you gather details of your income and expenditure, your debts and the court paperwork you have received. You should then give us a call as soon as you can.

Our free Helpline is on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,

Mat

rdchick

CCCS_Mat wrote: »

Hi rdchick and thanks for your post.

If Debt Remedy has suggested a DMP is the correct advice you can just follow the process online and press proceed. We’ll set the DMP as quick as we can, you don’t need to be behind on payments to start a DMP.

In regards the creditors calling you, the normal debt collection process will start once you miss your first contractual payments which you will do once you start the DMP.

There are a couple of ways of dealing with this. You’re completely within your rights to block telephone numbers on your phone and you can also write to each creditor asking them to remove your telephone number from their system and only correspond in writing.

You must continue to open any letters they send and reply to them if needed, once your DMP is set up with us we also will have correspondence with your creditors.

We wrote a blogpost on this subject which is worth reading, the comments hold more information too.

http://moneyaware.co.uk/2011/06/what-to-do-when-creditors-keep-phoning-you-2/

Good luck with your DMP.

I hope this helps.

Kind regards,

Mat

Hi Mat,

Thanks for getting back to me! I have done the debt remedy etc but completely missed off my PDL's is there any way of adding them in now? I haven't sent back the agreement yet.

Thanks a million!

System

korysend01 wrote: »

I'm am currently expericing financal problems and are considering a debt payment plan - i receive DLA for my son which pays for the finance on a car for his use and other items - will i have to declare this to the DPM company I assume yes but once the finance has been completed onthe vehicle will they still continue to include the DLA in my income and expenditure even thought it's for my son special needs and care and not for the normal household items??

Hi korysend01 and welcome to the forum

It sounds like you would benefit from some free and impartial advice.

The benefit is for your son and his expenses and won’t be considered your income. Depending on your circumstances this may need to be shown in your budget but the DLA won’t be used toward repaying your debt.

If a debt management plan is the best solution for your circumstances we provide these free of charge so that all of the money you pay goes towards clearing your debts.

If you would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,

Mat

Markybee

Hi, i posted this in the CC section and was directed over here so here goes...

I'll try keep this story short but a few years ago our business did well and we were offered credit cards (personal) with large limits. The business then went downhill with the recession and had to use the cards to help fund day to day living and help with a huge tax bill.

This left us with £30k of debt on a card so we got another card on a 0% balance and transfered half the balance to help save some money.

Now the 0% has finished and we can only just pay the minimum on each card per month - which is not reducing the balance on either card.

We had to sell our house a couple of years ago and are now renting so while i (currently) have an excellent credit score, no one will give us another card on a 0% balance transfer nor a reasonable interest on a loan to pay of the cards as we have no security.

If i call our credit card companies and tell them about this, are they willing to drop the interest as at this rate it will never get paid off.

We're close to doing a IVA but don't want to ruin our credit rating for years as it will be impossible to get a mortgage for years.

Does anyone have any suggestions on our best course of action or what we could to make life a little easier and start reducing our bills?

System

rdchick wrote: »

Hi Mat,

Thanks for getting back to me! I have done the debt remedy etc but completely missed off my PDL's is there any way of adding them in now? I haven't sent back the agreement yet.

Thanks a million!

Hi rdchick and thanks for replying.

Give the team a call on the number provided in your pack and just quote your Debt Remedy reference number. They’ll be able to add the loans straight away.

Well done on starting the process

I hope this helps.

Kind regards,

Mat

System

stressedbusymum wrote: »

Hi my husband agreed to sign up to fresh start who changed to harrington brooks to make a debt managemnt plan on his behalf as he was struggling dealing with things himself. We could afford 60 pounds a month towards all his debts. We assumed that interest and arrears would be frozen on accounts once companies had been notified and agreed to the propsed payments. However after looking through his paperwork i have found statements from welcome showing that they have added other a thousand pounds in arrears since we made the debt management agreement. Are they allowed to do this? I have now cancelled his agreement with harrington brooks as i feel that we have basically been flushing our money down the toilet. I have got in touch with the companies he owes and propsed payments directly to them. I have also made a complaint to welcome asking for all arrears to be removed. My question is do i have a leg to stand on?. If they refuse could i send complaint on to the ombundsman or are welcome in a position to be allowed to do what they have done? Any advice appreciated

Hi stressedbusymum and welcome to the forum

It sounds like you would benefit from some free and impartial advice.

A debt management plan is an informal arrangement; no debt management provider (company or charity) can guarantee that creditors will stop interest and charges. This is entirely up to the creditor. The only way you can be 100% assured that you won’t get further charged is if you opt for a legally binding debt solution – such as an IVA or DRO.

Many debt management companies will claim that they are better at stopping interest and charges but this is not true. It’s against the Office of Fair Trading’s guidance to imply this, so if you’ve been wrongly advised it’s important that you report the company involved.

The creditor is within their rights to continue to add interest and charges in line with the original credit agreement that you signed.

If a debt management plan is the correct solution for your situation we provide these free of charge so that all the money that you pay into the plan goes towards clearing your debts. We have a dedicated team that works with creditors to understand our process and why stopping charges is beneficial for everyone.

There could be other solutions available to you depending on your circumstances, some of these solutions you may not be aware of.

If would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,

Mat

System

bakerfa wrote: »

I've been on Payplan DMP 6 years, 4 years to go...

My default notices fall off in September. I rang cus serv to see about what happens with those debts as I was under the impression that they could still write to me but couldn't CCJ, blacklist, take me to court etc. after the 6 years were up. Ruth said that they could take me to court at any time and that I would have to continue paying for another 4 years.

What's the correct answer?:(

Hi Bakerfa and thanks for your post.

I’ve answered your two questions in one post to save time

Defaults will be listed on your credit file for six years from the day the default was listed. Some creditors will issue defaults straight away. Some can wait to issue a default when the see fit.

In many ways the quicker creditors default the better this works out for the debtor.

You must continue to make payments into your debt management plan or creditors can take further action against you. I think you’re confusing the defaults no longer being listed on your credit file with the debt being statute barred. As you have been making regular payments towards these debts they are not barred.

There is a section in the blogpost below that explains about statute barred.

http://moneyaware.co.uk/2011/08/your-debts-written-off-is-it-too-good-to-be-true/

I hope this helps.

Kind regards,

Mat