Why bother paying debt??

nottoolate

sharp82 wrote: »

It is pretty demoralising

My DMP is set to run for 9 years, then a further 6 years till the AP markers drop off.

Would be easier to move countries and start afresh!

so some or all of them havnt been defaulted?

sharp82

nottoolate wrote: »

so some or all of them havnt been defaulted?

Correct. I think 4/6 have been defaulted. First Direct have defaulted, and are placing AP markers on my file. Barclaycard have not defaulted, and are putting AP markers on.

Littlewoods are doing nothing so far, apart from threatening to default and the 20 odd phone calls a day!

nottoolate

sounds daft but better if the other 2 default soon then. then it would be only 6 years until everything is removed and you have a totally clean file.

strange system

sharp82

I called littlewoods and asked them to default me... the lady on phone said 'pay us in full, and we will issue the default'

Erm, how about no? Stupid company. If I win the lottery, i'm going to drag out paying them for as long as I can!

nottoolate

sharp82 wrote: »

I called littlewoods and asked them to default me... the lady on phone said 'pay us in full, and we will issue the default'

Erm, how about no? Stupid company.

tempted to laugh, but really that is just pathetic from littlewoods.

Hatecreditors.com

sharp82 wrote: »

I called littlewoods and asked them to default me... the lady on phone said 'pay us in full, and we will issue the default'

Erm, how about no? Stupid company. If I win the lottery, i'm going to drag out paying them for as long as I can!

What an absolute idiotic response from Littlewoods.

Where is the incentive exactly? Does she think a default is some kind of ‘reward’? If you paid the balance in full the debt would be marked as settled so why on earth would anyone want a default after the balance is cleared?

Creditors infuriate me sometimes. They couldn’t be more helpful when you’re all fine and paying on time (in fact, they literally throw money at you) but as soon as you get into trouble, they try and f**k you anyway they can.

At one point, I was paying Barclaycard 3 times the minimum payment and they were still applying AP markers. I asked them to stop this and there response was ‘we will stop applying AP markers if you come off your DMP but your interest will double’ ARRRGGGHHH.

sharp82

They are the worse creditor of them all. They havnt signed up to the lending code of practice, so can pretty much do as they please.

My minimum payment was £15, and now they are getting £13. So not a massive difference. Every threat of default comes with a £12 charge! I suspect they are delaying defaulting so they can apply the charge.

I could probably find the £2 to meet the minimum payment, but screw them.

I am tempted by an IVA so they don't receive the full amount, but feel a bit guilty about the other creditors.

happy_bunny_2

sharp82 wrote: »

They are the worse creditor of them all. They havnt signed up to the lending code of practice, so can pretty much do as they please.

My minimum payment was £15, and now they are getting £13. So not a massive difference. Every threat of default comes with a £12 charge! I suspect they are delaying defaulting so they can apply the charge.

I could probably find the £2 to meet the minimum payment, but screw them.

I am tempted by an IVA so they don't receive the full amount, but feel a bit guilty about the other creditors.

Just stop paying them, they will then send to in house collections, threaten the world and then default you and sell the account.

heatherks

my brothers and his wife are the same ..they run up massive debts and have made themselves Bankrupt twice in the last 11 years but still run about as if they haven't a care in the world, holidays every year .. both run cars, ( recently got one brand new ) . both of them are working .
I struggle to pay back my debt on one income ..but at least i can sleep at night ; )

AnnieBox

I know how you feel wondering 'why bother'. I find myself thinking similar things, there are two people at my work place who both have had a lot more debt and worse credit histories then I have. One has a mortgaged house, the other one has just got a mortgaged house too. Both of them still often moan amount lack of money and paying off their debts.

Me on the other hand, I can't even get a new credit card or small loan, let alone a mortgage! Even though our debt wasn't perfect, it was never as high and never as badly managed as the other people at work, but our credit history is worse than theirs and we struggle to achieve similar things.

It does make you question yourself and it feels really horrible, I know, but I think at the end of the day it's best to do what's right. For me, I wouldn't feel right if I did what your cousin did. That's why me and my partner have worked so hard to make everything right again.

It may be slower going then other people, but we will hopefully be in a much more stable situation then they are when we finally do get to buy our own house.