DMP & Mutual Support Thread - Part 11

dad2one

lucy_w86 wrote: »

Is there a template for letters? Thanks again!

Sorry, only just got back on here today. Puzzcat and Sazzie23 have answered for you - great info as ever from these!

best of luck all

Cregs10

I will use the letter template too. Thank you. To speed things up is it worth sending this on the secure message centre or would you send all in the post. Also sc has set my dmp to start from this month and so my creditors will therefore all receive a payment. Should I still make a token payment? Seems pointless if paying them this month anyway? Thanks.

Puzzcat

Cregs10 wrote: »

I will use the letter template too. Thank you. To speed things up is it worth sending this on the secure message centre or would you send all in the post. Also sc has set my dmp to start from this month and so my creditors will therefore all receive a payment. Should I still make a token payment? Seems pointless if paying them this month anyway? Thanks.

Hi,

If you are starting this month I wouldn't even bother sending the letter to be honest as they will hear from SC. Save your stamp money..

Puzz. x

Cregs10

Ah ok brill. Save me time as well. Thanks for your help. I assume I will hear from the creditors as seems the norm but time to get on with it then and hunt down that dfd day then.

Puzzcat

Cregs10 wrote: »

Ah ok brill. Save me time as well. Thanks for your help. I assume I will hear from the creditors as seems the norm but time to get on with it then and hunt down that dfd day then.

Yep that's about the size of it..!! I think I received 3 or 4 calls and just quoted my sc ref number to them. Letters will probably come thick and fast but if your unsure about any, then post on here and we will try and help. Most are computer generated or printed by numpties so don't panic...!!

Puzz.x

January2015

Remember to sign all letters to predators (er....creditors) electronically. Do not use your own signature - just in case any of the debts ever prove unenforceable etc.

KID77

Just want to say to all the new starters that I totally agree with Puzz and can't stress enough how useful it is to read back the DMP support threads.
I know that its alot of reading but I would sit up late at night reading through them on my phone as I was so obsessed and consumed by it all and still am to a certain extent. Its not a decision to be taken lightly going into a dmp but it was the right decision for us as we had no other option and i was at breaking point. Reading through these threads is what helped me realise a dmp was our beat option as reading peoples actual real life experience of a dmp is so much more useful than anything SC have said. It will answer questions you didn't know you had :-)

Sorry I am rambling now but just want to stress that these threads are super useful so really worth reading back on.

Good luck everyone starting and well done everyone on their progress. My progress is slow at the moment but its progress so thats all that matters xx

lucy_w86

Started reading the start of this post but with two children refusing to go to sleep, I'm struggling to get through it.

Couple of questions. I keep seeing people want their accounts to default. Why is this? Also, one of my debts, a CC is with the same bank that I bank with. Is this a problem?

Thanks

KID77

I know the feeling Lucy, I have 2 young children myself who are still awake as we speak despite my best efforts :-)

Defaults stay on your credit file for 6 years from date recorded where as Late payment ot arrangement to pay markers can show on your file for the duration of the arrangement. So the default looks harsher but has an end date if that makes sense, where as the other markers will be visible for 6 years from date of less entry. Hopefully i have explained that well enough, im tired even though my children don't appear to be :-)

January2015

lucy_w86 wrote: »

Started reading the start of this post but with two children refusing to go to sleep, I'm struggling to get through it.

Couple of questions. I keep seeing people want their accounts to default. Why is this? Also, one of my debts, a CC is with the same bank that I bank with. Is this a problem?

Thanks

Reasons for wanting defaults are mainly because interest definitely stops at that point and also default gives a definite date re. ending poor credit file. Defaults are on your credit file for 6 years. After that they drop off. If a predator doesn't default you the poor credit marker, e.g. AP (arrangement to pay) stays on your credit file for the entire time you are clearing the debt and then six years after debt cleared.

In my case, as my DMP is 9 years, if I don't have defaults I will have a poor credit marker for 9 years + 6 years = 15 years. So the quicker predators default me the better. Not that I ever want credit again as I am approaching retirement, but someone working towards clearing debt so they can save for a mortgage would be disadvantaged by not having default markers as quickly as possible when on a DMP.

Feel free to correct me if I am wrong anyone:beer:

And change your bank now....if you have a CC debt with the your bank they have the right of OFFSET and could take your money towards clearing the CC debt. You really do need to change banks NOW