DMP & Mutual Support Thread - Part 10

lewpster

I've had another scary letter today telling me I have 17 days to pay £66.98 or I will have broken my credit agreement and I get a default. I don't need to do anything do I? This is from RBS this time so that's 3 out of 6 cards I've now had these letters from. All have said they accept my DMP and have frozen charges and interest?

Thanks

Hopelessly_Hopeful

kalcide wrote: »

Can someone remind me what it's good to get a default please?

Hi

Defaults stay on your file for 6 years. The sooner you get one the sooner they come off. Bizzarely if you don't get a default the DMP is on your file by way of Arrangement to Pay (AP) or Late marker for the duration and then 6 years after. So if its a DMP for 4 years add 6 = 10 years on credit file. Unfair. This is why people say ask for them so that the damage repair can begin.

Hope that helps

HHx

Sazzie23

kalcide wrote: »

Can someone remind me what it's good to get a default please?

lewpster wrote: »

I've had another scary letter today telling me I have 17 days to pay £66.98 or I will have broken my credit agreement and I get a default. I don't need to do anything do I? This is from RBS this time so that's 3 out of 6 cards I've now had these letters from. All have said they accept my DMP and have frozen charges and interest?

Thanks

Ok it know it seems mad at first, but EARLY DEFAULTS ARE GOOD!

Lewpster, file the letter away with all the other documentation you get (you might need it one day so bets get organised now). Nothing else needed, probably just a computerised letter and you may or may not get a default out of it.

Kalcide - it's good for 2 reasons, firstly defaults tend to ensure charges and interest get stopped and secondly because defaults stay active on your file for 6 years, so better to get one now than2 or 3 years down the line which would be bad to your credit rating much later on. The very long termers could still be paying back their DMP and their defaults had dropped off if the defaults start really early.

Scary letters though I do know but you'll harden to them, they often appear on a Saturday for some reason ?

Hopelessly_Hopeful

Rooster01 wrote: »

Just received an email from Very/Littlewoods.....Both accounts have now been passed onto NDR (National Debt Recovery). I've heard they are an absolute nightmare to deal with?

Hi

I don't have personal experience with them. Don't feel obliged to take calls and get all in the writing. There are plenty of laws and guidelines to protect you so don't feel you have to put up with any funny business.

HHx

blisteringblue

kalcide wrote: »

Can someone remind me what it's good to get a default please?

Hard core DMP'ers take the stance to make £1 token payment for up to 6 months even if you can afford more. Yes you will get mithered to death but it also tends to get all your accounts defaulted early. Then at this point you can tackle them safe in the knowledge it's 6 years to a clean credit file. However I would expect a lot of calls and hassle this way.

I'm in the less mither is good camp so know with my AP markers it will be another 6 years after my DMP finishes, but this isn't an issue to me. BB & Credit will be a thing of the past then

Rooster01

Well after being told via email that both Littlewoods and Very accounts had been passed over to inhouse NDR Debt Recovery I picked up the courage to contact littlewoods again. I spoke with the collections team and they informed me that because I have been 100% honest from the start they have again put both accounts on hold to stop it going any further and no interest will be added. They also told me not to worry and as long as I stick with Stepchange offer they will comply and account will not be sold to another DMC. Feel slightly better now........

SquirrelNuts

Rooster01 wrote: »

Well after being told via email that both Littlewoods and Very accounts had been passed over to inhouse NDR Debt Recovery I picked up the courage to contact littlewoods again. I spoke with the collections team and they informed me that because I have been 100% honest from the start they have again put both accounts on hold to stop it going any further and no interest will be added. They also told me not to worry and as long as I stick with Stepchange offer they will comply and account will not be sold to another DMC. Feel slightly better now........

No so bad after all then Rooster

Hopefully Very will be just as understanding with me... :T

Rooster01

SquirrelNuts wrote: »

No so bad after all then Rooster

Hopefully Very will be just as understanding ... :T

Hopefully they will!

So far they have been great and very understanding. It was Very collections department that told me to go with Stepchange and it took some convincing from my part. Have they put your account on hold?

SquirrelNuts

Rooster01 wrote: »

Hopefully they will!

So far they have been great and very understanding. It was Very collections department that told me to go with Stepchange and it took some convincing from my part. Have they put your account on hold?

I'm not sure to be honest. I wrote to them a couple of weeks ago but not heard anything at all.

My Very account isn't officially in arrears yet. Min payment for this month is £5, and I've only paid £1. Next statement not due until later this month...

I also rang Barclaycard earlier to inform them of my Stepchange ref number, as again no reply to my letter from last month. The person I spoke to there was very pleasant, completely the opposite to what I was expecting tbh (in a nice way!).

Rooster01

SquirrelNuts wrote: »

I'm not sure to be honest. I wrote to them a couple of weeks ago but not heard anything at all.

My Very account isn't officially in arrears yet as min payment for this month is £5, and I've only paid £1. Statement not due until later this month...

I also rang Barclaycard earlier to inform them of my Stepchange ref number, as again no reply to my letter from last month. The person I spoke to there was very pleasant, completely the opposite to what I was expecting tbh (in a nice way!).

To be honest I think your probably better off ringing Very direct. They informed me that due to the fact I've been completely honest about my change in circumstances and have been in regular contact with them they are happy to help me resolve my issue.....Well so far anyway!

I contacted Barclaycard on Tuesday and the women was so nice I nearly fell off my chair. She even cancelled my direct debit. Nationwide were fine too. They put my mind at rest about CCJ and Charging Orders but I never believe anything a creditor tells me........