DMP & Mutual Support Thread - Part 11

KID77

Thanks January, has the new owner accepted current payment plan? Did they ring you? I would prefer to deal in writing so i dont feel too intimidated.

We have 2 other MBNA accounts so imagine they will follow suit soon.

January2015

KID77 wrote: »

Thanks January, has the new owner accepted current payment plan? Did they ring you? I would prefer to deal in writing so i dont feel too intimidated.

We have 2 other MBNA accounts so imagine they will follow suit soon.

No idea if they have accepted yet as they have yet to respond.

To be honest I don't really care if they accept - they can't have what I don't have. I responded in writing and advised we are just moving to self-managed - told them what I would pay each month, sent a financial statement (all built on the NEDCAB site).

I made it clear in the letter I would respond promptly to all communications in writing and that I did not give them permission to phone me.

Brogden

dad2one wrote: »

you're paying them back. And doing so at a rate you can afford is a huge relief and for many the start of a new life.

Thanks Dad - that strikes a loud and sweet chord here. I think with that post being just a few words something may have been missed so I just wanted to back you up and say...... YES for many (most) of us IT IS A NEW LIFE :T:T:T:T:T:T:D!!!!!!!!!!!!

You said it all ......very quietly......

Boldhoof

KID77 wrote: »

Thanks January, has the new owner accepted current payment plan? Did they ring you? I would prefer to deal in writing so i dont feel too intimidated.

We have 2 other MBNA accounts so imagine they will follow suit soon.

We have a debt with MBNA which went to Moorcroft, received a letter from them saying they were taking it over. I rang them to say on DMP with SC, they were aware, and not heard from then since, they seem to be accepting the payments okay, even now they have had to be reduced dramatically.

Boldhoof

Morning all,

Since being on our DMP with SC all our creditors have been aware for the last year. The payments all accepted, seemed the Halifax CC payment met their minimum payment, no interest added. With the reduced payment it has gone below their minimum payment. Given they have known for a year we are with SC they phoned to say in arrears, told them with SC on DMP for a year. They told me it was going to collections, asked them to only write to me and not phone. Got a letter saying we are £5.63 in arrears, default notice warning etc pay it by 26th January, SC is due to pay them £5 before the 26th, wonder if they will still carry on with the default given the 63p difference?

KID77

Thanks for your responses January and Boldhoof, I will report back when I hear what happens.
Xx

Jon81

sourcrates wrote: »

Hi,


It will be marked as late payment until approx. 3/4 payments have been missed, the creditor can then issue a default notice, and mark your credit file as such.


If you did not receive a default notice, then the creditor has failed in its obligations to you, however, in practice, it makes very little difference.
If its the only default you have, then complaining that the creditor has not followed due process, may or may not result in its removal, however, the breach is easily remedied by them sending you the correct paperwork.

It's one of many unfortunately, I just wondered as it seemed odd. I think I have 4 of my 12 creditors who haven't defaulted me and I'm on a long haul DMP starting in Ernest on the 1st am working with stepchange just hope they accept the proposals and can crack on

Little_Miss_Sunshine

Hi I posted this yesterday but I think it might have got lost. I'd really appreciate thoughts/opinions on this no matter what they are


I'd really appreciate advise and thoughts please. So, the panic that intially set in when I realised that we could not meet our minimum payments without taking out more credit/debt has subsided. I've done lots of research and I'm not sure that beginning our DMP with sc so quickly ( first dd due to go out the 1st Feb) is such a good idea.
I've cca'd all our debts - just waiting to hear back now. I 'think' that our biggest debts ( Mbna over 2 cards £21k and £7k) may be unenforceable. I took these cards out in the early to mid 1990's.
Possibly another £5k may be unenforceable.
That would take our debt down to £20k. We will be in a position to offer !!!!!! in 3 years time ( our mortgage will be paid off) and ideally I'd like to do this before ( maybe in 2 years time). So I need all our accounts to default quickly.
I'm wondering if the best thing to do would be to change to self managed - would that be ok?? We haven't really got started with sc. just make token payments for a few months - to allow us to save and to force the defaults.
I'm ok with self managing. In fact I'd prefer it.
Also this would give time for the cca paperwork to come through ( especially the Mbna ).
What do you think?? Is this a good plan?? I'm not sure

January2015

Little_Miss_Sunshine wrote: »

Hi I posted this yesterday but I think it might have got lost. I'd really appreciate thoughts/opinions on this no matter what they are


I'd really appreciate advise and thoughts please. So, the panic that intially set in when I realised that we could not meet our minimum payments without taking out more credit/debt has subsided. I've done lots of research and I'm not sure that beginning our DMP with sc so quickly ( first dd due to go out the 1st Feb) is such a good idea.
I've cca'd all our debts - just waiting to hear back now. I 'think' that our biggest debts ( Mbna over 2 cards £21k and £7k) may be unenforceable. I took these cards out in the early to mid 1990's.
Possibly another £5k may be unenforceable.
That would take our debt down to £20k. We will be in a position to offer !!!!!! in 3 years time ( our mortgage will be paid off) and ideally I'd like to do this before ( maybe in 2 years time). So I need all our accounts to default quickly.
I'm wondering if the best thing to do would be to change to self managed - would that be ok?? We haven't really got started with sc. just make token payments for a few months - to allow us to save and to force the defaults.
I'm ok with self managing. In fact I'd prefer it.
Also this would give time for the cca paperwork to come through ( especially the Mbna ).
What do you think?? Is this a good plan?? I'm not sure

You could change to self-managed but you need to be 100% confident you will be disciplined with your budget. For us, we needed those first 10 months with SC to get us into the 'programme' of being focussed on our budget and debt clearance. This was for both DH and myself. I needed that time to get him on board with understanding money wasn't readily available anymore and budgets really needed sticking to.

I appreciate not everyone is the same and perhaps you know you will be okay self managed from day 1. Only you will know. I only just feel ready to move to self-managed - which we are doing this month.

The other option is contact SC and advise you want to delay the start date. It's your DMP, you decide the start date.

My fingers are tightly crossed for you with the CCAs. We have just CCAd one card and I so hope it comes back unenforceable. I think I am counting those chickens already

Little_Miss_Sunshine

Thanks January. You've made some good points. I think we'll delay the start for a couple of months and move to self managed after about 6 months. The critical thing is the Mbna cards. Most of out sc payment will go to them and "if" it's unenforceable I don't want that to continue.
Advise much appreciated