DMP & Mutual Support Thread - Part 10

FuzzyDF

Hello Lovely People.

I just want to run something by you. I applied for a nice new job and got it! I was then sent a pack whereby the company are going to use a third party to do a thorough background check on my employment history, qualifications, references, criminal record (all fine) and then the bit that made me ill my credit background.

I'm not going to be working in finance or the police etc or handling money. What info will they actually see? Is it what lenders see, score, debts, defaults or just the public part which confirms that I have no CCJs etc. I'm worrying myself sick.

Any advice would be gratefully appreciated x

phoenixx

FuzzyDF wrote: »

Hello Lovely People.

I just want to run something by you. I applied for a nice new job and got it! I was then sent a pack whereby the company are going to use a third party to do a thorough background check on my employment history, qualifications, references, criminal record (all fine) and then the bit that made me ill my credit background.

I'm not going to be working in finance or the police etc or handling money. What info will they actually see? Is it what lenders see, score, debts, defaults or just the public part which confirms that I have no CCJs etc. I'm worrying myself sick.

Any advice would be gratefully appreciated x

Hi FuzzyDF

Congratulations on getting the job! More and more companies now seem to be doing these background checks. I don't see why it should be relevant to your ability to do the job that your credit rating isn't tiptop. There are millions of people who have less than perfect credit ratings. I can see why you are worried but I don't think there is much you can do other than wait to see what they say. This happened to my brother-in-law (in a DMP/credit rating shot to pieces) and all they(new employer) did was ask him how he'd got into the position he was in. He told them and it was never mentioned again. He works in IT.

I hope it doesn't cause you problems. Fingers crossed.

phoenixx

FuzzyDF

Thanks Phoenixx. I'm just wondering whether they will see my entire credit file or just the public record.

Have been going around in circles looking for answers on the Internet and getting myself wound up

phoenixx

FuzzyDF wrote: »

Thanks Phoenixx. I'm just wondering whether they will see my entire credit file or just the public record.

Have been going around in circles looking for answers on the Internet and getting myself wound up

For my brother-in-law it was entire file - but it depends which company is doing the check. Some just look at public record - my friend works for estate agents and they only look at public record for employees and potential renters. My BIL got himself into a right fluster and it came to nothing in the end so hopefully you will have same experience. He talked about pulling out of the job, ringing them to discuss and even contacting search company...we talked him out of that. Try not to get too worried - easy for me to say I know.

naimismynaim

phoenixx wrote: »

Hi and welcome

What DMP provider are you with? Hopefully one of the free ones - no-one should ever pay a fee to have their DMP administered. I would imagine that you should be starting to offer Full&Final amounts if you are in a position to pay lumps off. This should be done in writing - never over the phone. Take a look at the 'Full and Final' thread which will give you lots of advice on how much to offer. I don't believe they can get you to pay interest and charges retrospectively. I've never heard of that before so doubt it's a worry.

Have you sent CCA requests to your creditors? If they don't have the proper paperwork your debt may be not be enforceable which, if nothing else, can put you in a stronger position when offering Full & Final amounts.

There are lots of wise people

Hi Phoenix , Thanks for your reply and advice.

I'm currently in a DMP with PayPlan which has been running for two years. My debt, according to Payplan Plus, is around £17700 but I can get my hands on around £15000 and I've already contacted PayPlan and they've said they will contact my creditors this week.

What concerns me is my creditors will want interest not paid during the two years I've been in my DMP so I was just wondering if they can or will do this knowing I've got funds to pay off most of my debts.

My plan was to pay off all my credit cards which will fully satisfy them but will leave one personal loan which is with Barclays Bank which I oew around £9500. If possible I'd like to return to normal payments to Barclays till the full amount is paid off. As I pointed out earlier I'd like my credit score to return to normal ASAP.

I suppose I'll just have to wait for PayPlan to call and see what they have to say and maybe I'm being too panicky about my situation ?

I hope I've explained my situation clearly and thanks once again for your advice.

Sazzie23

naimismynaim wrote: »

Hi Phoenix , Thanks for your reply and advice.

I'm currently in a DMP with PayPlan which has been running for two years. My debt, according to Payplan Plus, is around £17700 but I can get my hands on around £15000 and I've already contacted PayPlan and they've said they will contact my creditors this week.

What concerns me is my creditors will want interest not paid during the two years I've been in my DMP so I was just wondering if they can or will do this knowing I've got funds to pay off most of my debts.

My plan was to pay off all my credit cards which will fully satisfy them but will leave one personal loan which is with Barclays Bank which I oew around £9500. If possible I'd like to return to normal payments to Barclays till the full amount is paid off. As I pointed out earlier I'd like my credit score to return to normal ASAP.

I suppose I'll just have to wait for PayPlan to call and see what they have to say and maybe I'm being too panicky about my situation ?

I hope I've explained my situation clearly and thanks once again for your advice.

Hi Naim,

Welcome, pleased you have been able to access some funds. There are 2 parts to your questions, firstly the paying off and secondly the credit file. Let's deal with the credit file first. It depends if you have had any defaults, do you know ? If you don't know, you could join noddle (it's free) and you can check your accounts and see if there are any defaults recorded or AP markers.

A default will stay on your fie for 6 years from the default date no matter what you do. AP - arranged patent marker, will stay on file for 6 years from last payment, but there is a chance a creditor might alter them for you if you start paying.

Regards the interest, unlikely they would be able to ask for back dated interest. What sometimes happens is that someone on a DMP makes their DMP payments, their provider assumes interest is frozen and shows the debt reducing accordingly, but in fact the creditor never froze interest, so they suddenly find loads of interest added, but in fact it was always being added. That is why its VITAL if you are in a DMP you check your own balances at least every 3 months.

Many people in your position, find themselves able to pay one or more creditors. The folk on the F&f thread recommend starting offers at 25 % of the total owed.....yes really! If the debt is still with the original creditor unlikely that they'll settle below 65%, but if the debt is with a DcA (debt collector) then 25-40% is not unusual. The debt is then marked as 'settled' or something like that, rather than paid off, I'm not sure what difference this would make on your credit file. If you have a default anyway, I'd probably just aim for the minimum they'll accept. Don't feel bad about it, one of my DcA came straight out with it and said, let us know if you want to a deal....I said I'd love to but have zilch cash:D

Not sure how effective payplan will be at negotiation your settlements, maybe consider going direct?

Hope this helps a bit - it's not a straightforward answer, and different creditors will react in different ways.

Sazzie23

phoenixx wrote: »

For my brother-in-law it was entire file - but it depends which company is doing the check. Some just look at public record - my friend works for estate agents and they only look at public record for employees and potential renters. My BIL got himself into a right fluster and it came to nothing in the end so hopefully you will have same experience. He talked about pulling out of the job, ringing them to discuss and even contacting search company...we talked him out of that. Try not to get too worried - easy for me to say I know.

Crikey that's a disturbing trend, maybe people did it before and I didn't take any notice when my credit file was fine. Wonder why they feel it's necessary, and what they hope to gain from this info. I know at least 2 of my bosses have DMP credit files like mine, but I can't see why it would affect how we do they job, except perhaps we work harder and do more overtime:rotfl:

Fuzzy congratulations of the new job, think positive, if your file shows you are making payments, not skipping them, that's a good thing.

FuzzyDF

Sazzie23 wrote: »

Fuzzy congratulations of the new job, think positive, if your file shows you are making payments, not skipping them, that's a good thing.

Thanks Sazzie it's the credit score and defaults I'm worried about. I'm not even going to be working in the finance sector. All a bit strange.

Lighthelamp

Ok just got called by Barclaycard who are talking about selling my debts to another company. They said they recognised I was keeping up my SC payments but it wasnt enough to be a "formal" payment so they were making it an informal one. Should I be concerned?

phoenixx

Lighthelamp wrote: »

Ok just got called by Barclaycard who are talking about selling my debts to another company. They said they recognised I was keeping up my SC payments but it wasnt enough to be a "formal" payment so they were making it an informal one. Should I be concerned?

Personally I consider this to be a good result. BC have been our most troublesome creditor and I would be thrilled if they were to pass on our debt to another company. I know there are some sharks out there but honestly, apart from Moorcroft who were a bit odd over Next debt (fine with other two we hold with them), all other DCAs have been fine - polite, frozen interest etc.