DMP & Mutual Support Thread - Part 10

Puzzcat

neiljmuk wrote: »

Problem here for me is wanting a mortgage but if I only get the default once the debt is paid, it's apparently possible to get considered by many lenders with defaults after a couple of years (even if the debt exists funnily enough) so I'll focus on the largest possible deposit and paying off the actual debt as soon as without compromising on having more financial freedom.

If the worst comes to the worst I'll rent till I retire then buy a house outright or with a 50 to 75% deposit and the one off payment from my private pensions.

Many ways to skin a cat

Skin a cat:eek: Hope your not referring to me!!!!!

neiljmuk

Puzzcat wrote: »

Skin a cat:eek: Hope your not referring to me!!!!!

ooooops! lol. Hope I did not offend. Have too cats actually. Horrible saying really isn't it....
:beer:

neiljmuk

Time_to_face_the_music wrote: »

FOS won't tolerate same creditor accounts being treated differently when it comes to applying interest but they still consider a default as a bad thing, so couldn't get them to pressure creditors to do it.

It's always worth trying yourself but we have just had to admit that some accounts will never default you. Three and a bit years down the line, we only ever got 4 out of 11 defaulted.

TTFTM x

That's Lloyds in a proverbial headlock then. Love that bit of reassurance!

neiljmuk

Time_to_face_the_music wrote: »

6 month review is pretty standard, we have always had that throughout with Lloyds but we managed to stop interest, it stayed frozen. It's wise to set a calendar reminder to ask Stepchange to update credit creditors as they normally only do this annually.

TTFTM x

Did you have an OD with Lloyds, or if not, anyone else. Was it put o a reducing OD to decrease with SC payments made for the 6 months and if so what happened after 6 months. Mine goes from about £920 to 0 on month 7 apparently after £18 increments lol!

System

neiljmuk wrote: »

Did you have an OD with Lloyds, or if not, anyone else. Was it put o a reducing OD to decrease with SC payments made for the 6 months and if so what happened after 6 months. Mine goes from about £920 to 0 on month 7 apparently after £18 increments lol!

Yep..that is how they show ours as well.....very strange, but I have no doubt it will not be £0 at the end of the 6 months....:rotfl:

Brogden

Hi Everybody

I don't want to be miserable but after 'default' there are still reviews every six months, or longer period if you can arrange that This will be the case whether the debt is with the bank or sold on to a DCA. Reviews have become part of my life !!

The more cheerful message is that once in the hands of a DCA the review is an incredibly lightweight thing that can be done in one minute .

If anybody has debts with the Gnat's Vest well........defaulted three years ago and they always want the full Income & Expenditure breakdown. Takes me an hour :eek: !! They really are the most unhelpful of creditors and they say they may transfer the debt to a DCA if I do not keep to the plan . It has only just occurred to me that maybe not keeping to the plan might be the best result. Transfer to a DCA and get a final settlement somewhat more favourable than the 80% non-negotiable figure they are quoting..............I'll have to think more on that...........I don't have to worry about defaults as it's already happened !!

.........its the phone ringing all hours that concerns me most after it being quiet for so long.

Brogden

Puzzcat

Well I can only speak from my experience with sc, annual review and bc never receiving it. No other I & e needed as all through sc. Think I will stick with them!
Puzz.xn

January2015

Brogden wrote: »

Hi Everybody
I don't want to be miserable but after 'default' there are still reviews every six months, or longer period if you can arrange that This will be the case whether the debt is with the bank or sold on to a DCA. Reviews have become part of my life !!
The more cheerful message is that once in the hands of a DCA the review is an incredibly lightweight thing that can be done in one minute .

Hi Brogden

I can live with reviews - for me the default signifies the end of fees and charges, regardless of the outcome of reviews.

Brogden wrote: »

If anybody has debts with the Gnat's Vest well........defaulted three years ago and they always want the full Income & Expenditure breakdown. Takes me an hour !!

er.....what/who is Gnat's Vest. I've put my thinking cap on and as usual come up empty headed:o

Brogden wrote: »

.........its the phone ringing all hours that concerns me most after it being quiet for so long.
Brogden

I block the numbers on my phone if I don't want to talk to people. Once the number is in the system the phone doesn't ring in the house. If they really want to communicate with me they can resort to old fashioned letter writing and stamps.

sourcrates

January2015 wrote: »

er.....what/who is Gnat's Vest. I've put my thinking cap on and as usual come up empty headed:o
.

Nat west I would say lol !!!!!

Time_to_face_the_music

Good morning DMPers old and new :hello:

I want to scream from the roof tops that our debt is down to 3 figures! We only owe hundreds, rather than thousands, or tens of thousands or our original £82,344 which is pretty close to one hundred thousand!

Can't sleep for excitement :rotfl:

We would never be in this position now if it wasn't for the help, advice, experience and support from this thread :T

TTFTM x