DMP & Mutual Support Thread - Part 10

Ali80

January2015 wrote: »

My question is how will know our balances (other than manual calculations)? Do they start sending our paper statements? (we were always online statements before).

I feel like these 2 accounts are floating around somewhere and I have no idea of what's happening with them.

I have Natwest loan, OD and 2xCCs, also with online access now restricted. All have sent me paper statements in the last few weeks confirming payment. Not sure whether this is because I requested all correspondence be in letter form when I first wrote to them re. DMP or because online access is restricted..... I used to only have online statements before too.

Ali80

I sent a secure message to BC last night, complaining about the delay in crediting my account and applying interest. This is the reply I got this morning.........

"Thank you for contacting us, I am sorry to hear of the difficulties you are having and note that Step Change are currently dealing on your behalf.

I have reviewed your account and confirm receipt of a payment from Step Change of xx.xx, on the 27 April. Your account has been placed on an informal arrangement with interest and fees suspended and a confirmation letter sent directly to Step Change.

I have refunded the purchase interest of £xxx.xx, and £x.xx, cash, the credit adjustments will show on your next statement and confirm that all payments received from Step Change are processed overnight once received.

As a responsible lender, we have an obligation to continue to provide information regarding your account to the Credit Reference Agencies. Any missed payments will reflect on your credit file. If a reduced repayment plan is agreed, this will show on your credit file as an arrangement. This may affect your ability to obtain credit in the future".

Bit of a result I guess as all interest accrued since January is being refunded. I wonder how long interest will be frozen on the account? I also wonder when payment will be credited next month.....guess I'll just have to wait and see....!

Puzzcat

Ali80 wrote: »

I sent a secure message to BC last night, complaining about the delay in crediting my account and applying interest. This is the reply I got this morning.........

"Thank you for contacting us, I am sorry to hear of the difficulties you are having and note that Step Change are currently dealing on your behalf.

I have reviewed your account and confirm receipt of a payment from Step Change of xx.xx, on the 27 April. Your account has been placed on an informal arrangement with interest and fees suspended and a confirmation letter sent directly to Step Change.

I have refunded the purchase interest of £xxx.xx, and £x.xx, cash, the credit adjustments will show on your next statement and confirm that all payments received from Step Change are processed overnight once received.

As a responsible lender, we have an obligation to continue to provide information regarding your account to the Credit Reference Agencies. Any missed payments will reflect on your credit file. If a reduced repayment plan is agreed, this will show on your credit file as an arrangement. This may affect your ability to obtain credit in the future".

Bit of a result I guess as all interest accrued since January is being refunded. I wonder how long interest will be frozen on the account? I also wonder when payment will be credited next month.....guess I'll just have to wait and see....!

Hi Ali,
Just a thought, might be worth asking for BC to move the payment due date. I did this as mine was 23rd and sc didn't pay till 25th. Plus BC are lying as payment was made to them on the 13th and not processed to our accounts until the 27th...
Puzz.x

Ali80

Puzzcat wrote: »

Hi Ali,
Just a thought, might be worth asking for BC to move the payment due date. I did this as mine was 23rd and sc didn't pay till 25th. Plus BC are lying as payment was made to them on the 13th and not processed to our accounts until the 27th...
Puzz.x

Thanks, that's a good idea, it will hopefully avoid the same thing happening next month. Will do that.

This part confused me too....
".....confirm that all payments received from Step Change are processed overnight once received.....".

It suggests that they only received SC payment on 26th, or possibly 24th, since it was a weekend. I'm also inclined to believe BC are lying, since all other accounts were credited much sooner.

schmalf

Hello all! A quick update from me - just had a notice of default from BC through the post! They really are very strange, been paying them for a year nomprobs on the DMP, no interest etc and ap markers on my account. Then they start sending me statements with the full monthly payment demanded, but still no interest etc. Ring them and they say don't worry, its all fine just keep paying as agreed. Now getting late payment markers on the account. And now served a default notice! Oddballs. Anyone else had one? Pondering whether to just ignore it or let SC know, what do you reckon?

Puzzcat

schmalf wrote: »

Hello all! A quick update from me - just had a notice of default from BC through the post! They really are very strange, been paying them for a year nomprobs on the DMP, no interest etc and ap markers on my account. Then they start sending me statements with the full monthly payment demanded, but still no interest etc. Ring them and they say don't worry, its all fine just keep paying as agreed. Now getting late payment markers on the account. And now served a default notice! Oddballs. Anyone else had one? Pondering whether to just ignore it or let SC know, what do you reckon?

Hi Schmalf,


I had one too, still waiting for it to appear on noddle as a proper default.. hopefully next month.. No need to tell SC, its what BC should have done for me at least a long time ago...


Puzz. x

glitterunicorn

Hi all,

I have just read through this entire thread (it did take me a while!) and I have to say that I wish I found this a long time ago! Apologies in advance for what is going to be a long post, please bear with me!

I entered into a DMP with SC in November last year. I didn't do token payments (I live with family and don't drive so I don't foresee and emergencies that I will require funds for) and I didn't include all of my debts. I wanted rid of all my PDLs as I couldn't cope with the repayments but left out a CU load, TSB OD and CC. I also found out that I had two Lending Stream accounts but payments were only being made to one. Not sure how that happened but that has been sorted now! I also shredded a lot of paperwork as I was burying my head in the sand.

After reading this thread, I contacted SC to do a review and include the additional debts. I reduced my DMP payments from £212 to £188 after some budget fiddling and I've cut out payments of about £160 to allow me to build an emergency fund. This changed my DFD from April 2016 to June 2017. Scary stuff but I am going to review my budget again in 6 months (if everything is going to plan) and hopefully reduce that significantly!

My new debts aren't yet showing on my SC account but I only added them last week. Has anyone had experience of this? Do you know when these are likely to appear? My estimated balance hasn't increased despite my DFD changing.

I'd also be interested to hear if anyone has had any dealings with Motormile Finance (MMF)? They were sold debts of mine (Mr Lender and Peachy) but they only appear once on my DMP. The amount owed drops from £812.94 to £406.82 after a payment of £231.17 which doesn't seem right to me. I contacted them and after two weeks of hounding, received a statement saying the original loan amount was £228.15 and shows payments being made regularly and the amount owed is now £217.72 (the starting balance was over £500!). This doesn't match the figures I provided SC at the beginning and I'm now wondering if one debt isn't being paid. Would I ask SC about this, or MMF? I also had an employee of Mr Lender try to add me on LinkedIn which was scary! :eek:

TSB passed my debts to Wescot and I thought this included the OD and CC but I can still see my CC on internet banking but the bank account has been removed. I'm waiting on a statement from Wescot but should I contact TSB regarding this? I'm happy to quote the Lending Code (thank you to whoever posted the sections - apologies I can't remember who but I've done a lot of reading these past few days!) re treating accounts the same.

glitterunicorn

I'd also like to thank everyone on this thread for the support and advice posted. Some of the stories are truly inspirational and a massive congratulations to everyone who has managed to clear their debt!

Puzzcat

glitterunicorn wrote: »

Hi all,

I have just read through this entire thread (it did take me a while!) and I have to say that I wish I found this a long time ago! Apologies in advance for what is going to be a long post, please bear with me!

I entered into a DMP with SC in November last year. I didn't do token payments (I live with family and don't drive so I don't foresee and emergencies that I will require funds for) and I didn't include all of my debts. I wanted rid of all my PDLs as I couldn't cope with the repayments but left out a CU load, TSB OD and CC. I also found out that I had two Lending Stream accounts but payments were only being made to one. Not sure how that happened but that has been sorted now! I also shredded a lot of paperwork as I was burying my head in the sand.

After reading this thread, I contacted SC to do a review and include the additional debts. I reduced my DMP payments from £212 to £188 after some budget fiddling and I've cut out payments of about £160 to allow me to build an emergency fund. This changed my DFD from April 2016 to June 2017. Scary stuff but I am going to review my budget again in 6 months (if everything is going to plan) and hopefully reduce that significantly!

My new debts aren't yet showing on my SC account but I only added them last week. Has anyone had experience of this? Do you know when these are likely to appear? My estimated balance hasn't increased despite my DFD changing.

I'd also be interested to hear if anyone has had any dealings with Motormile Finance (MMF)? They were sold debts of mine (Mr Lender and Peachy) but they only appear once on my DMP. The amount owed drops from £812.94 to £406.82 after a payment of £231.17 which doesn't seem right to me. I contacted them and after two weeks of hounding, received a statement saying the original loan amount was £228.15 and shows payments being made regularly and the amount owed is now £217.72 (the starting balance was over £500!). This doesn't match the figures I provided SC at the beginning and I'm now wondering if one debt isn't being paid. Would I ask SC about this, or MMF? I also had an employee of Mr Lender try to add me on LinkedIn which was scary! :eek:

TSB passed my debts to Wescot and I thought this included the OD and CC but I can still see my CC on internet banking but the bank account has been removed. I'm waiting on a statement from Wescot but should I contact TSB regarding this? I'm happy to quote the Lending Code (thank you to whoever posted the sections - apologies I can't remember who but I've done a lot of reading these past few days!) re treating accounts the same.

Hi and welcome!
Sorry I have no experience of payday loans but I'm sure some on here will be able to answer your questions. I would suggest if you haven't already signing up to noddle it's free and you may be able to untangle some of the pickle by see your debts listed. The balance is always about a month behind. I would also talk to sc first rather than the creditors.
Good luck and well done for getting sorted and reading the whole thread.
Puzz.x

glitterunicorn

Thanks for the response Puzz. I have signed up to Noddle (yet another brainwave from this thread!) but that didn't help unconfuse me as some of my PDLs are marked as settled and others have an AP.

I have requested defaults from the ones with AP markings and so far I only have one reponse from PDUK advising me to contact the Credit References Authority for more information. I'm waiting a few days to see if I get any other responses so I can tackle the CRA with them all in one go