DMP & Mutual Support Thread - Part 11

Sazzie23

phoenixx wrote: »

I probably should have asked the better question - do they have a legal right to take money from the current account to use against the Barclaycard debts? Only two of the five Barclaycard debts we have were originally BC. Others were Egg etc. This seems to affect the way they apply interest, though we have never had a straight answer from them as to why this is. Most of our debt is now BC which is why it is our priority to sort out.

Probably worth CCA on the debts transferred to BC, even if you decide to continue paying it could help you with an F&f.

I believe that BC have an agreement not to take money from Bclays basic accounts but I'm not sure what it extends to.

LPMS

Hi all,
We have a DMP with SC. We did the review yesterday with them and upped the payments from £104 to £110.

We asked them if I were to do some overtime, we would like to use that money to make some additional payments to the creditors, and if we were to do that would we have to do it through them or can we do it direct.

They suggested to do it through them so they can pro-rata the payments and we don't seem to be favouring one creditor over the other. which I can understand. But for some reason, I think I would rather pay direct to the creditors and start with the smaller debt and snowball to the largest.

Do you think I would be OK doing it my way or should I do it through SC?

Coinmachine

Bit of an update, long post but thought I would throw it out there for anyway going through similar:


having received a letter from Natwest in response to my complaint about them not defaulting me, and them stating that they will now default me plus £75 for not responding to my earlier correspondence, I then the very next day received a letter stating that as I am paying the minimum amount they dont need to register a default!

I am pretty sure the second letter is just computer generated but makes them look like they dont know what they are doing so I have responded back to the complaint to have a bit of a moan.

On a separate matter, I used to have a joint account with my wife which was overdrawn and is now in the DMP however I was careful beforehand to remove her name from the account in Jan 14 before entering into the DMP, or so I thought...Anyway checking on Noddle my wife was showing as a connection last checked March 14.

I spoke to Nationwide who firstly said that according to their records she had deceased! Then upon looking into this further they have now apologised and told me she should have been removed from the account on in Jan 14. Nationwide have now removed the name from their systems so it will not continue to report and will request that her name be removed as the second account holder as of Jan 14 which will remove the default only for her.

I have gone back to Nationwide suggesting that they might like to offer something for the inconveniance of all this as it suggests to me my wifes credit rating will have taken more of a hammer than it needed to, will see what happens.

phoenixx

Sazzie23 wrote: »

Probably worth CCA on the debts transferred to BC, even if you decide to continue paying it could help you with an F&f.

I believe that BC have an agreement not to take money from Bclays basic accounts but I'm not sure what it extends to.

Thanks Sazzie - I had a feeling I had read this somewhere but couldn't remember where or indeed find reference again. CCA is a good idea - will go for it.

Puzzcat

LPMS wrote: »

Hi all,
We have a DMP with SC. We did the review yesterday with them and upped the payments from £104 to £110.

We asked them if I were to do some overtime, we would like to use that money to make some additional payments to the creditors, and if we were to do that would we have to do it through them or can we do it direct.

They suggested to do it through them so they can pro-rata the payments and we don't seem to be favouring one creditor over the other. which I can understand. But for some reason, I think I would rather pay direct to the creditors and start with the smaller debt and snowball to the largest.

Do you think I would be OK doing it my way or should I do it through SC?

Hi,
I never did this but believe others have and if they don't like it then they can cancel your dmp but then you can go self managed. I wouldn't think they would notice as you amend your debt balances online unless your earning thousands in overtime!
Puzz.x

January2015

LPMS wrote: »

Hi all,
We have a DMP with SC. We did the review yesterday with them and upped the payments from £104 to £110.

We asked them if I were to do some overtime, we would like to use that money to make some additional payments to the creditors, and if we were to do that would we have to do it through them or can we do it direct.

They suggested to do it through them so they can pro-rata the payments and we don't seem to be favouring one creditor over the other. which I can understand. But for some reason, I think I would rather pay direct to the creditors and start with the smaller debt and snowball to the largest.

Do you think I would be OK doing it my way or should I do it through SC?

I was with SC last year and paid off one predator in full by making direct, additional payments to the predator each month. I did this because it was VERY and they were going to put buy now pay later interest on if I didn't clear the account by a certain date. That would have added several hundred pounds to our debt level and I couldn't face that.

SC never said a word, and neither did any of our predators (and we had 12 in total). I updated the online DMP account each month with the reducing debt balance as well so SC clearly knew what I was doing.

I would just pay extra to who you want to, when you want to.

bsclp118

Hi,

I just want to clarify something I've just read. It suggested that as I know, a default will stay on your credit file for 6 years. However it suggested it was the first default that mattered and everything would be wiped off your credit file 6 years after that.

Is this correct or, as I was assuming, does each default stay on 6 years from the date it was given?

sourcrates

bsclp118 wrote: »

Hi,

I just want to clarify something I've just read. It suggested that as I know, a default will stay on your credit file for 6 years. However it suggested it was the first default that mattered and everything would be wiped off your credit file 6 years after that.

Is this correct or, as I was assuming, does each default stay on 6 years from the date it was given?

Hi,

It's each individual default that stays on your file 6 years.

They all should have a default date, exactly 6 years on from that, they disappear.

bsclp118

Thanks for confirming sourcrates. Thought that sounded a bit too good to be true.

LPMS

Thanks guys. I think I may just do it as and when, surely they can see if we're paying the smaller ones off then the bigger ones will get a bigger monthly payment sooner rather than later.