DMP & Mutual Support Thread - Part 10

blisteringblue

So the BB Barclaycard Saga. Went self managed 3 months ago to drop to token payments to force a default and remove the 12% interest they somehow managed to charge again with their stupid sliding scale.

FANFARE!!!

In the post yesterday the first Default Notice for our 2 cards !! And so it begins. It looks like Barclaycard even drag this out because this is still just a notice, we can pay x amount to prevent it as it will effect my credit for 6 years blah blah blah blah blah. NO SH1TE SHERLOCK.

So a couple more tokens and should finally get the holy grail of a Barclaycard Formal Demand & Default.

:j:T

Ellieseleven

Brogden wrote: »

In 2012 I raided the food budget to try to stop the Gnats Vest from defaulting me. I was doing everything I could to avoid late payment markers and defaults - what a nutcase I was. I just needed to accept the position and stop trying to keep up with the demands. Finally I had no choice and a new DMP (a chaotic one) was born !!

Brogden

Yes, I know that feeling very well! I was drawing money out on one CC to pay the minimum payment on another:eek::eek: This became a vicious circle, month after month whilst I tried in vain to pay everything:o

These days I have a budget that I can live within, I don't have any money but I am able to save an emergency fund for unexpected expenses...and I no longer live on my wits (or nerves!)

Ellie x

Ellieseleven

blisteringblue wrote: »

So the BB Barclaycard Saga. Went self managed 3 months ago to drop to token payments to force a default and remove the 12% interest they somehow managed to charge again with their stupid sliding scale.

FANFARE!!!

In the post yesterday the first Default Notice for our 2 cards !! And so it begins. It looks like Barclaycard even drag this out because this is still just a notice, we can pay x amount to prevent it as it will effect my credit for 6 years blah blah blah blah blah. NO SH1TE SHERLOCK.

So a couple more tokens and should finally get the holy grail of a Barclaycard Formal Demand & Default.

:j:T

Good Luck Blisteringblue, I really hope that you are successful;)

Puzzcat

Growurown wrote: »

hope to be debt free - 446



Puzzcat - 447




Sazzie's post, members list is fun but not as important!

Thank you. X

KID77

Ellieseleven wrote: »

MBNA froze the interest for me and they defaulted me quite early on in my DMP. They sold the debt on after about a year so the interest has never been reinstated. This was one of our biggest debts to start with.

...In the same boat as everyone else re: BC - no interest but AP markers on our credit file:(

Between me and my OH we have 11 credit cards, all have defaulted apart from BC - most have now been sold on, only C1 and BC remain with the original creditor. I have been on a DMP for almost 5 years and the defaults all start to drop off from 2016:)

Ellie x

That's great your defaults will be off soon, have you complained to BC yet? I've read all sorts on the forums about them. Did they freeze your interest? I am hoping they will for us as my new monthly payment will be less than 1% of the balance and from things i have read if its under 1% then they will...... I was going to give it 3 months and if no notice of default then start requesting one. Its obviously still very early days for us but as I know its not going to be paid off in next 6 years, I am uber keen to get defaults asap.

K
xx

alamaya

Are defaults the same as CCJ's.? I renewed my car insurance today and it asked if I had CCJ which I don't but I thought what if I do next year would they not allow me to do direct debit?

blisteringblue

alamaya wrote: »

Are defaults the same as CCJ's.? I renewed my car insurance today and it asked if I had CCJ which I don't but I thought what if I do next year would they not allow me to do direct debit?

No a CCJ is a county court judgement when a creditor has taken you to court for payment and won. A Default is simply you have not kept to a credit agreement and the company have put a default on the account.

A CCJ is more serious but you will be warned and have received a lot of correspondence until it gets to a CCJ.

Neither are the end of the world mind you.

blisteringblue

PS. it's worth pointing out CCJ is the first step towards attachments to earnings or a charging order if you own a property. Where if you don't make the payments on your CCJ a judge can order a Charging Order (when you sell the house the creditor is automatically paid via the charging order) or even attachments to earnings to force some payment direct from your wages.

Triangle

Hi all

Received all my paperwork through from Stepchange today - everything is all set up, creditors informed and our DMP starts on 1/9. I also received a phone call from Stepchange to clarify a couple of account numbers and the woman I spoke to was so lovely, feel so much better. Currently not sleeping due to worry about the looming Child Tax Credits cuts

Anyway, a question amongst my rambling! I have read the payments Stepchange will be making to each creditor and one of them is pretty much identical to what the current minimum payment is. Has anyone else had this? Does it affect anything?

Thanks
Tx

alamaya

Im also panicking about child tax credit cuts, since leaving work to care for my son they are my main source of income. I cant return to work so if they take them off me not sure what I will do