January 2015 is the beginning

StressedSteph

Hi January

Sounds like you have a solid plan sorted out, we have often thought of going on a DMP but have stuck with self-managing it as it so much easier and more flexible.

Fingers crossed for a good letter from MBNA xxx

January2015

Hi Steph

I keep reading from others on self-managed DMPs how easy/flexible it is. I think we needed the headstart with a managed DMP to put us on the right path and focus us on that strict budget plan etc. We've been doing this for 10 months now and I think we are in the right place mentally to make the move to self-managed

January2015

Two of our larger debts have just been moved to Moorcroft {yuk}

Good timing I suppose as I can set them up on our new self-managed DMP straight away from February.

I just don't like the thought of dealing with Moorcroft - I've read some poor comments on here about them, but then I suppose if I searched other DCA names I would come up with the same/similar sorts of reading materials. Hey ho - let's move forward with this and get sorted.:j

January2015

Sitting here tonight, I've sort of had a mini LBM with regard to moving to self-managed DMP.

I was waiting for response from MBNA re enforceability (or not) to see if we should include the total in the self-managed DMP. The mini LBM was that of course we should include the MBNA balance in the DMP. If it's enforceable we need to pay it each month, and if it's not enforceable I will put the monthly payment that I would have paid MBNA aside in a saving account and it can go toward building emergency fund / F&F fund. Simples

Now, I'm just waiting for confirmation new basic account with HSBC will be opened. I want a completely seperate account to manage the DMP payments. Probably don't need to go to this length, but my brain is telling me to completely segregate the DMP and it's payments from 'our' money - keep it clean and separate and don't get in a mess!

Brogden

Congratulations on your decision to go self-managed Jan

Make sure that the I&E you provide to each predator backs up the fact you can only pay £1 per month, if that is what you decide to pay. To let you into a little secret, I did not give identical I&E's to each predator. They were each advised what I wanted to advise them !

Think of every possible expense you have for the I&E's to easily reduce your disposable income figure and if it still looks too large, add in something like 'voluntary additional mortgage payments,' 'voluntary additional pension contributions' because you 'have to pay them for the future security of your family.'

The separate bank account is a great idea as anything not being paid to predators sits there to be used in the future as EF and F&F's .

Don't worry about Moorcroft.....they are no problem at all. They are just a bunch of dozy school leavers. Check the ownership of those two debts however as on my Moorcroft debt they are only the collectors. Lloyds owned it and sold it to PRAT but Moorcroft still collect (and get in the way.)

Puzzcat

Hello January and very belated Happy New Year to you..

I have been reading your posts and good on you for going self managed and going after MBNA... I shall follow your progress with interest !

If you wouldn't mind could you pm or copy/paste the cca letter you sent? I have a little debt with BC... our fave creditor who have sold it on to the PRAT group and its still not defaulted. I know its an old card as it used to be egg so wouldn't mind sending them a cca.... can't hurt can it...!!!

Other than the money games I hope all is okay in your world? Any news on the job front yet?

Love Puzz. x

January2015

Puzzcat wrote: »

Hello January and very belated Happy New Year to you..

I have been reading your posts and good on you for going self managed and going after MBNA... I shall follow your progress with interest !

If you wouldn't mind could you pm or copy/paste the cca letter you sent? I have a little debt with BC... our fave creditor who have sold it on to the PRAT group and its still not defaulted. I know its an old card as it used to be egg so wouldn't mind sending them a cca.... can't hurt can it...!!!

Other than the money games I hope all is okay in your world? Any news on the job front yet?

Love Puzz. x

No updates on job front yet but I'm still there so for now that's good

Letter I sent for original CCA request was as below:

[FONT=&quot]
[/FONT]

[FONT=&quot] Dear Sir/Madam,

Account/Ref No: xxxxxxxxxxxxxxx[/FONT]
[FONT=&quot][/FONT]
[FONT=&quot]With reference to the above agreement, I would be grateful if you would send me a copy of this credit agreement and a full breakdown of the account including any interest or charges applied. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] I understand that under the Consumer Credit Act 1974 [sections 77-79], I am/we are entitled to receive a copy of any credit agreement and a statement of account on request. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] I enclose a payment of £1 which represents the fee payable under the Consumer Credit Act 1974.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] I understand a copy of any credit agreement along with a statement of account should be supplied within 12 working days.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] I understand that under the Consumer Credit Act 1974 creditors are unable to enforce an agreement if they fail to comply with the request for a copy of the agreement and statement of account under these sections of the Act.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] I look forward to hearing from you.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] Yours faithfully[/FONT]
[FONT=&quot][/FONT]

[FONT=&quot]
[/FONT]

January2015

Brogden wrote: »

Congratulations on your decision to go self-managed Jan

Make sure that the I&E you provide to each predator backs up the fact you can only pay £1 per month, if that is what you decide to pay. To let you into a little secret, I did not give identical I&E's to each predator. They were each advised what I wanted to advise them !

Oooooh - sneaky - but very clever :beer:

Brogden wrote: »

Think of every possible expense you have for the I&E's to easily reduce your disposable income figure and if it still looks too large, add in something like 'voluntary additional mortgage payments,' 'voluntary additional pension contributions' because you 'have to pay them for the future security of your family.'

Good idea - but (and it's a big but) won't they query the difference in the I&E I send through being so different to the one SC sent through (because I was an idiot and was totally honest when I created that I&E):(

Brogden wrote: »

The separate bank account is a great idea as anything not being paid to predators sits there to be used in the future as EF and F&F's .

That's the plan :j

Brogden wrote: »

Don't worry about Moorcroft.....they are no problem at all. They are just a bunch of dozy school leavers. Check the ownership of those two debts however as on my Moorcroft debt they are only the collectors. Lloyds owned it and sold it to PRAT but Moorcroft still collect (and get in the way.)

Thanks for the reassurance - it's great to hear others experiences of various predators and DCAs - all helps to be armed and ready;)

Puzzcat

Thank you. X

Brogden

January2015 wrote: »

Good idea - but (and it's a big but) won't they query the difference in the I&E I send through being so different to the one SC sent through (because I was an idiot and was totally honest when I created that I&E):(

Yes......mmmmmn......I didn't have that problem as I stopped short of signing up with SC.

Having said that I have updated I&E's and do at the end of each payment plan period and they do change, and always to the predator's detriment as I get older , wiser and more crooked

Who is to say you haven't had a 'mortgage LBM' and need to increase payments or move from interest only to repayment.........:cool:

Who is to say you haven't had a 'pensions LBM' and have just received advice that you must whack a load in :cool::D

You mentioned your new grandchild.....well there's a lot a conscientious, loving gran can be paying there....school fees provision, university savings, assistance with nursery?

The list is endless. They simply cannot argue with any of these expenses and I have never produced proof of anything.

Remember.....by providing these things we are the 'good guys.' As I pointed out on the DMP Mutual thread......it's the guys who don't do this who they don't like. We are allowing them to tick their boxes and in return they will let us live in peace. They actually don't care.......they just want to tick their boxes :rotfl:!!

Brogden x