DMP Mutual Support Thread - Part 7

sickasachip13

Hi all,

One of our debts seems to have done a bit of travelling - we had a letter from Barclaycard saying they had passed it onto IDR and then the next post came and IDR said they'd passed it to Link Financial.

The wording is ambiguous but I'm wondering if this means it's probably been sold, or could it just be being managed by Link?

Anyone any experience of Link....? I know they got slated in the MBNA court case earlier this year.

Toffee_Penny

Hiya guys!

Hope all is well with everyone (apart from being skint! )

We're still plodding along and lowered our dmp payment last month. So far so good apart from a DCA called Wescot threatening to take our first born away unless we pay up immediately. :rotfl:I know the whole debt thing is supposed to be taken seriously but we just find ourselves laughing at the letters now when they come through the post.

Slightly off topic I know but did anyone read through the 'things you've done when you hit rock bottom' thread in this section of the forum? Last time I looked it had been locked due to arguing and don't know if it is open again but god I felt awful for some people what they had to do when they had little or no money.

Although I am in debt and don't have much money left at the end of the month it certainly made me feel grateful for what I do have!

19jojo

just to add you can do an iva if you own your own home , you may be required to release some equity at the end of the 5 yrs if any is available , or they may extend for an extra year if no equity . but once i told the creditiors that i was now with payplan they just ask for a reference and don.t contact you again. give them a call they are very friendly and helpful, i know how you feel , i was in that situation this time last year. let us know how you get on.

ianmak

19jojo wrote: »

just to add you can do an iva if you own your own home , you may be required to release some equity at the end of the 5 yrs if any is available , or they may extend for an extra year if no equity . but once i told the creditiors that i was now with payplan they just ask for a reference and don.t contact you again. give them a call they are very friendly and helpful, i know how you feel , i was in that situation this time last year. let us know how you get on.

You can do an IVA if you don't own a home too, in fact you're better off if you don't own a home!

laragh

Hi there, I'm sure this has been covered numerous times we set up our own DMP with creditors over year ago, we didn't default from payments while it was being agreed we just paid the lower payments we offered while we were back and forth with the lenders, I have several defaults from some of the debts (not all strangely) and was wondering if there was any way of having these defaults removed? Long shot probably I just seem to remember that someone had mentioned they could be reversed by the lender if DMP was adhered to....

ianmak

laragh wrote: »

Hi there, I'm sure this has been covered numerous times we set up our own DMP with creditors over year ago, we didn't default from payments while it was being agreed we just paid the lower payments we offered while we were back and forth with the lenders, I have several defaults from some of the debts (not all strangely) and was wondering if there was any way of having these defaults removed? Long shot probably I just seem to remember that someone had mentioned they could be reversed by the lender if DMP was adhered to....

I wouldn't have thought so as you technically defaulted on your payments. Unless you wait the six years and they'll get removed then.

Twit_Head

ianmak wrote: »

I wouldn't have thought so as you technically defaulted on your payments. Unless you wait the six years and they'll get removed then.

You're absolutely right ian. As per the 'McGuffick ruling' - if you didn't keep to the agreed and contracted payment then you have defaulted. And there it must sit in your credit file for six years from the date you receive it
Hope all goes well with you.

'Twitty'

Forever-Skint_4

Hey guys...

I'm new to MSE and new to this thread.

I rung up CCCS on Tuesday after a very teary look through my finances and they agreed a DMP was the best option for me. Recieved my pack through the post yesterday so going to go through it all today and get all the relevent information back to them asap.

May need some support from you guys soon, feeling a bit overwhelmed with everything, even though my debt isn't massive (totals at around £7.5k) I still feel completely out of my depth!

PoshPants

Hi Forever, Well Done for having the courage to take the first steps. You're definitely in the right place to get you through, you'll find all the support you need from all the nice people on here.

I've been doing my DMP for almost 3 months now and everything is getting so much better already, just knowing that you have a budget left for the month and you are dealing with your debts makes life worth living again.

Good luck with it all and feel free to post any questions here or if you just need support in any way.

Andy

sickasachip13

Hi Forever-Skint,

You've come to the right place, pull up a chair!

Honestly, the scared and tearful stage is really normal at the beginning, things do get better. If you've got time then you should make a cuppa and sit down and read through this thread as there is so much advice, support and info for us DMPers here.

Best of luck and any queries, don't fret, just come and ask :-)