Self Managed DMP Query

funkypriest

Hi,

I am thinking of going self managed with my DMP (Currently with SC).

This is because I have several accounts that are just sitting at "Arrangement to Pay" on my credit file. I want these to default.

My plan is to pay the creditors that have already defaulted me the usual payments after sending them letters advising of my plan to carry on on my own and not pay the others at all.

However my question is, if I suddenly stop paying these other creditors, can they process a CCJ before they have registered a default on my account? As soon as the default is registered, I have no problem paying them monthly.

Many thanks in advance.

Tixy

They could in theory commence court action at any time (once you have not paid as per the T&Cs). How quickly they are likely to is a different matter. You may want to consider paying a token monthly payment rather than no payment.

Have you tried asking the creditors to register a default on your credit file?

Meatloaf1981

Rather than refusing to pay the "Arrangement to Pay" creditors at all, perhaps consider reducing their payment to £1 token payments until they default you. If you fail to pay them at all and won't engage with them then they could consider the CCJ route which would be unnecessary since all you're hoping for is for them to default you. They won't process a CCJ if they haven't defaulted you, however, as far as I know.

funkypriest

Hmm, the main culprit is Barclaycard.

I may just end up sending them £1 a month.

blisteringblue

Don't just stop as it just opens non payment fees, drop to token payments of £1 so you are paying something. I would also write telling them why you are doing this.

I've had to do the same for Barclaycard and they weren't even fussed, they just said expect the account to move to recoveries within a few months. They have still agreed to freeze interest while I am back on token payments too.

Meatloaf1981

Barclaycard confirmed with me they will default me "soon" as I am paying less than 1% of the balance each month. I said I would wait until the end of May and if they had not defaulted me by then that I would make a complaint. A letter they sent told me they would default if I had made no new arrangements to pay by the end of March (Which I didn't.)

dazla

Hi

An arrangement to pay is looked upon more favorably by future creditors than a default as it shows you have made an effort to repay. Barclays have been known to wipe the arrangement to pay record from a credit file after the debt has been repaid, if it was being repaid over many years, i.e. the same length of time a default would have lasted. I have barclaycard debts and am keeping my arrangement to pay marker rather than going for a default as Barclays have indicated to me that once the debt has cleared they wil remove the AP markers from the accounts