DMP & Mutual Support Thread - Part 11

blisteringblue

Decided to plow through my Predator paperwork this morning. Had neglected a nice pile since last summer

So scanned the pertinent ones and shredding the rest. Poor old shredder is going to blow a gasket with the pile though.

On the plus side I came across a Claim Form for a sentinel card I had which I should get some compensation on, with a cut off date of 16th march 2016, so best get that in the post.

Still noticed Mrs BBs Barclaycard is still not with PRA(T) group yet, the first letter was in July 2015, and a formal demand in Nov 2015. Boy are they slow at everything.

And just to make me smile the crappy DCA who bought my ex Marble ex Opus debt sent me a letter asking me to contact them within 7 days or further steps will be taken to recover the debt. :rotfl: Jog on jokers, I was going to put them back to the normal payment because I got it defaulted to remove interest. I may just keep them at £1 now for a laugh.

muppetscotland

Afternoon all. Stuck indoors with an ill child so thought would use my time well!

We have decided to begin a DIY DMP and have a few ccs to include. However we also have 3 loans with RBOS and I was wondering - do we treat them the same way? Would you expect the interest to be frozen on a loan?

We owe them almost £40k and that is by far our biggest debt. Does the amount in question make it more likely they will try and put a charge order on house or something horrible?

Puzzcat

muppetscotland wrote: »

Afternoon all. Stuck indoors with an ill child so thought would use my time well!

We have decided to begin a DIY DMP and have a few ccs to include. However we also have 3 loans with RBOS and I was wondering - do we treat them the same way? Would you expect the interest to be frozen on a loan?

We owe them almost £40k and that is by far our biggest debt. Does the amount in question make it more likely they will try and put a charge order on house or something horrible?

Hi,

Yes loans are treated the same way, mine was front loaded with interest so when I entered the dmp the balance just stayed the same and it reduces by the dmp payment each month.

I don't think anyone would be able to say what action a creditor may take with regards to charging orders etc.

Puss. x

muppetscotland

Sorry another question has occurred!

Will creditors continue to add interest after a default has been issued? If not then presumably another reason for hoping to get one ASAP?

Thanks everyone - great help this! Feeling more cheerful ref debts than in last 5 years.

Puzzcat

muppetscotland wrote: »

Sorry another question has occurred!

Will creditors continue to add interest after a default has been issued? If not then presumably another reason for hoping to get one ASAP?

Thanks everyone - great help this! Feeling more cheerful ref debts than in last 5 years.

Hi,

I believe once defaulted interest is frozen and can't be restarted.. I am sure someone will correct me if I am wrong..

Puzz.

aliavavodka

I have been on a DMP for 3 years now, and have more than halved my debt. 23 monthly payments to go. As I've been regularly paying, what are the chances of any of my creditors reducing the debt for a full and final settlement? Or should I shrug off this impatience and keep plodding?

zenshi

After offering a reduced settlement future to h.....X, I received letter asking for list of other creditors etc. This has been posted back to them today. Will update when I get news

January2015

aliavavodka wrote: »

I have been on a DMP for 3 years now, and have more than halved my debt. 23 monthly payments to go. As I've been regularly paying, what are the chances of any of my creditors reducing the debt for a full and final settlement? Or should I shrug off this impatience and keep plodding?

Go for it - the worst that can happen is they say no and you keep plodding but if you don't ask you will never know.

Start low 25% maybe and you will no doubt have a game of ping pong back and forth until you reach mutual agreement on a figure (or not).

Before starting F&F offers though - have you CCA'd all relevant debts (cards/loans) to check they are enforceable?

aliavavodka

Cca'd? No idea what this is, is it easy to do?

Ali

January2015

aliavavodka wrote: »

Cca'd? No idea what this is, is it easy to do?

Ali

Info and template letter here

I've just gone through this myself and today a predator sent me what looked like enforceable documentation. I've just been advised on another forum that it's unenforceable. That's £11k of our debt.