DMP & Mutual Support Thread - Part 11

KID77

I am expecting our mbna and barclaycard debts to be sold on soon so interested to hear how people get on and if there are any issues.
I have little freak outs now and again that once the debt is sold, the dca's may go down the ccj or charging order route.
Xx

Jon81

KID77 wrote: »

I am expecting our mbna and barclaycard debts to be sold on soon so interested to hear how people get on and if there are any issues.
I have little freak outs now and again that once the debt is sold, the dca's may go down the ccj or charging order route.
Xx

I have the same worrys kid77 but try to remind myself that I am paying what I can with stepchange support rather than refusing to pay and would like to hope that that means it doesn't go down that route

Others will have a view but there seems little point in the dcas taking further action and cost of they've been given regular soa and are getting somethong

Scaredofdebt_2

Thanks Jon81, that is reassuring, hubby will phone them tomorrow just to make sure they have the details.

I can't believe it has been a year since our LBM!! It has gone so fast and our Dmp had run smoothly so far (hopefully this will continue) but I definitely do still have a wobble from time to time!! Just for info one of our other debts has gone to Lowells and they have been fine to deal with and said as long as we keep to our payment plan we will not here from them.

Can't also believe we have managed a whole year including Christmas without credit. I do feel frustrated from time to time that we have to think twice about everything we do and can't do everything we want too with our boys but we have managed with overtime to have some treats which I think is important.

Next month after our 12th payment has gone to SC I am going to update my signature!! I have recently took a paycut (thanks to the NHS) but have taken a few extra hours on so shouldn't have to reduce payments so all good. Sorry for such a long post. Good luck everyone :beer::beer:

January2015

Scaredofdebt wrote: »

I can't believe it has been a year since our LBM!! It has gone so fast and our Dmp had run smoothly so far (hopefully this will continue) but I definitely do still have a wobble from time to time!! Just for info one of our other debts has gone to Lowells and they have been fine to deal with and said as long as we keep to our payment plan we will not here from them.

Can't also believe we have managed a whole year including Christmas without credit. I do feel frustrated from time to time that we have to think twice about everything we do and can't do everything we want too with our boys but we have managed with overtime to have some treats which I think is important.

Next month after our 12th payment has gone to SC I am going to update my signature!! I have recently took a paycut (thanks to the NHS) but have taken a few extra hours on so shouldn't have to reduce payments so all good. Sorry for such a long post. Good luck everyone :beer::beer:

Hi Scaredofdebt

We had our LBM a year ago as well. I agree the year did fly by and in general it was the most worry free (financially) year for a long time. No borrowing from Peter to pay Paul....or that should read....no borrowing from Credit Card A to pay Credit Card B;)

January was our 11th payment to SC and our last. We are moving to self-managed. I've used the NEDCAB site to help us. Their allowances for what you get to keep are much nicer than SCs. I was worried at first because it put our monthly payments to creditors down a bit, but it means finances won't be so tight each month. Technically DFD will be a bit further away but we will work to pay bits off as and when we can - and hopefully build a savings pot to offer some F&Fs - even if only to clear some of the smaller debts a bit quicker.

I wobble some days as well - small panics, but in the main life is good:j

Scaredofdebt_2

Thanks January, I have thought about going self managed too but to be honest I'm need to be more confident with my budgeting, I'm still not that good at it especially with the food shop and the emergency fund seems elusive!!

I've read with interest about the ccas on some of your ccs, our MBNA debts were old virgin cards and I'm sure our BC debts came from old egg cards but I think I need to read up on it in more detail as I don't fully understand the process.

I read the post about your job, that's good news and I can imagine a relief.

January2015

Scaredofdebt wrote: »

Thanks January, I have thought about going self managed too but to be honest I'm need to be more confident with my budgeting, I'm still not that good at it especially with the food shop and the emergency fund seems elusive!!

I've read with interest about the ccas on some of your ccs, our MBNA debts were old virgin cards and I'm sure our BC debts came from old egg cards but I think I need to read up on it in more detail as I don't fully understand the process.

I read the post about your job, that's good news and I can imagine a relief.

Even if you are not sure about the age of some of your CCs it wouldn't hurt to start the CC process. It costs £1 (a bit more if sending a postal order) and a postage stamp. That way, you will be armed and [STRIKE]dangerous[/STRIKE]ready when you do want to, or can, move forward with challenging the enforceability or otherwise of some of the debts.

I don't understand the process and am asking questions at every stage (I have a separate CCA query thread on the go on the main forum). I just decided I had probably been very stupid and paid at one least one CC well over £100 per month for almost a year and it was most likely unenforceable - thinking back that money could have cleared one of our other debts that is enforceable.

I think when most of us go into DMP land we have often never missed payments but have reached breaking point and fortunately realised something has to happen. We are indocrinated with we must pay what we owe. I still am to some point. I quickly realised interest free wasn't only available for top credit rated card swapping customers, but we could have this option too. Flipping MBNA had increased our interest rate from 0% to 12.9% to 24.9% and then to 34%. I thought it was because I was a bad customer only paying minimum - probably was. I thought I couldn't get any more interest free - definitely couldn't;) It was only finding this forum and the help and advice to look to DMP and SC that I realised the CCs have to work with people in financial difficulties.

So...it's only taken me 10 months to realise that laws and regulations are there for both creditors and debtors, and that creditors will use every law/regulation they can to impose charges/interest and chase debts. Why then, should I feel any guilt at all about using a law that says if they cannot provide the correct documentation my debt is unenforceable until they can.

Like I said it took me 10 months and 11 payments on DMP to a CC that can probably never be enforced to realise. Better late than never

sourcrates

January2015 wrote: »

So...it's only taken me 10 months to realise that laws and regulations are there for both creditors and debtors, and that creditors will use every law/regulation they can to impose charges/interest and chase debts. Why then, should I feel any guilt at all about using a law that says if they cannot provide the correct documentation my debt is unenforceable until they can.

Like I said it took me 10 months and 11 payments on DMP to a CC that can probably never be enforced to realise. Better late than never

Very well put January.

You have become more savvy these last few months !!!

People tend to panic, rush into things, and take everything a DCA says as gospel.
Most have no understanding of the situation they find themselves in, and have even less idea of how to deal with it.

Really hope your self management goes well !!

phoenixx

Hello all - So I have been chugging along with the DMP, working up to 6 jobs to keep the Phoenix bandwagon going. Hit a big car expense and had to reduce payments but all creditors seemed happy. We have felt proud of our attempts to deal with the debts.
Then yesterday, but of a blow - I was asked at work to take a more senior role which involves signing off cheques on the company bank account. It never crossed my mind that this would present a problem. I was utterly embarrassed yesterday when the company's bank rang me to say I could not be a signatory as the search (presume something like Experian) had found something (they wouldn't say what) that precluded me from doing it.
Firstly, what can I do about checking what searches are throwing up on me? I presume it's the defaults and the DMP that are the problem. I also do not know what to say to my boss - the bank said it was down to me to explain why I can't do the cheque signing...what on earth do I say? I know I have made bad decisions in the past but I am now sorting it and the last time I was a credit risk was 2011...Any advice would be much appreciated.

[Deleted User]

I'm so sorry to hear of the cheque-signing problem, phoenixx. I hope you get something sorted out soon. I expect someone much more financially knowledgeable than me will be along soon and advise who you should contact about it.

This is something completely different but related in a way. I live in a very small rural community in which many of the residents are very well-heeled (not including me and OH in that group ). There is a major fund-raising initiative underway to set up a community facility and I'm on the committee. I keep being pestered to take on the job of treasurer for the group:eek: (goodness knows why). Of course no one knows a thing about my financial problems and I desperately want it to stay that way;). If I offer my services would I need a credit check? Committee members for some of the other roles were just co-opted. I'd be handling donations and other sums and presumably be a cheque signatory. Currently I only have a basic bank account, I can't even get one with a chequebook for myself:o. I know it's not the same but the fact that I'm not allowed a personal chequebook suggests no one will consider me financially trustworthy.

I keep putting them off but they keep asking because I can't come up with a valid reason why not:eek:

Please keep us posted of developments in your situation, phoenixx. Good Luck:beer:

KID77

Hi Phoenix
Sorry to hear that, I dont know what you could say without revealing the financial issue, awkward one :-(. Hopefully someone will offer an idea xx

Hi Carboot
Not sure what you could say either, perhaps try and have a less financial role and say you dont want responsibility....

These are the situations I worry about too, I keep checking the search part of my credit report each month to see who has looked at me, PARANOIA xx