DMP & Mutual Support Thread - Part 11

blisteringblue

So a variety of letters this week from the predators all around my reduced payments this month. All agreed pretty much, although I am expecting a £12 late payment fee from Sainsburys as I got their normal contact us within 7 days letter which of course I will just ignore. I hope I get one because they will be my next £1 token project if they do. Need them defaulted really.

The tin pot DCA caved as I knew they would, they opened a proper complaint procedure which has been upheld and they assure me they will never ring or text me again. Oh and of course they will accept my current payment as indicated on the financial statement. Muppets, I guess they are under review with the FOS because they have written 4 times in a week.

I tell you if I knew at the start what I know now about dealing with debts I'm so cross we struggled on robing Peter to pay Paul and just getting deeper into debt. Still there is serious light showing in our tunnel now

Brogden

Boldhoof wrote: »

Thanks for the info. Will keep an eye on Noodle, just had the report, which always seems a month or two behind. Hopefully it will show Tesco and Westcot "partially satisfied" etc on next statement date.

It is better than that Boldhoof.......it will show 'Satisfied' whether the final agreed payment was partial or full.

'Satisfied'.......yeah.......end of.......BIN (actually don't bin but you know wot I mean :rotfl:!!)

P.S It will also say 'Partial Settlement' but who cares.....? 'Satisfied' is what we want to see.

Brogden

January2015 wrote: »

We have never sent anything but an income and expenditure statement.

It doesn't matter if they accept your offer - just pay what you have proposed and keep doing so. If they don't accept your offer they will eventually just sell the debt on to a debt collection agency. Don't panic.

I agree !!

I have never sent anything other than my own 'designer home made' I&E statement. I have been asked for lots of other things but simply not provided them and not referred to them in correspondence expecting them to be forgotten.

Remember the predators are simply going through the motions. They don't care......do not put yourself out

Brogden

blisteringblue wrote: »

I tell you if I knew at the start what I know now about dealing with debts I'm so cross we struggled on robing Peter to pay Paul and just getting deeper into debt. Still there is serious light showing in our tunnel now

I'm with you there BB.......if I had known at the start everything I know now............

This is not a bed of roses and we have all done ouselves a little bit of harm if we're honest. Anyway, after a time where we reflect on our wrecklessness and poor money management we then all need to stand up and kick-bottom .

Just because a predator tells us red is green doesn't actually mean that it is. . We may have learned red is red and green is green....uuuurgh :rotfl:!!

sourcrates

Ah you guys are getting so feisty lol !!!!!

Brogden

Sorry in advance ! I have a long post in me so please feel free to skip over if it doesn't interest you.........

I am not posting this on my own diary as the debt free diaries seem to be a bit chatty and 'non-specific' these days. I want to post about CCA's. I am not really asking questions although maybe I am. Also, I am not trying to tell anybody anything.......or maybe I am...... dunno !! Its just a bit of a discussion piece.....

I had my LBM in bits and pieces over the years of 2011/12. When I finally got my head into gear and got my calculator out I had debts of some £63,000 :eek:!! I am now in the twenties and I envisage being able, at my option to be debt free this year.

Going back 4 to 5 years I read about CCA-ing but decided there was no point. To be honest I don't think I missed any big opportunities and I think my P&F's have been quite meticulously conceived and aggressively executed (basically, I cannot believe how awkward I have become !!)

So......as a self-managed DMP-er I have not overbudgeted, I have never worked out a DFD.....every month I have paid a different amount somewhere, deliberately messed around some predator and now as I near the end I am not going to change my habits .

Right........IF I had not CCA'd the remaining predators then I would be putting firm plans in place now to go for a round of P&F's (F&Fs ).......but I'm not !! I have previously expressed complete shock at the seeming total absence of due dilligence on the part of 'debt purchasers' when they acquire debts from our highly respectable banking institutions. What reputable business which expects to 'not' go bankrupt purchases 'securities' without any sort of checks where it may potentially make a toal loss on its investment? Well there seem to be a few......Sparrow Lobal / Carboot / Trowel.......and more.........oh yeah......PRAT too :eek: . It is absolutely preposterous :mad: but........it is their problem :cool: !!

I had to look back at my copy letters to see when I requested the CCA's of these remaining predators. January 8th it was. I remember thinking about it at the time I ate turkey, Christmas pudding and consumed several gallons of beer. Well this where we are now:-

The Gnat's Vest - complied and agreement received (biggest debt )
Scank of Botland - " " " " (smallest debt )

But...........

PRAT No 1 single sheet......promise of more when they get it from the original predator?
PRAT No 2 - managed by (on the) Floorcroft - nothing but letter saying this may take some considerable time........
Sparrow Lobal - advise me they do not accept they are 'the creditor' envisaged by the CCA 1974 (rubbish :mad:) but they are approaching their client to obtain.

So 'collection activity' is currently suspended on three out of five debts. Prior to this little exercise I had decided to pick off the smaller ones with P&F's and leave the big Gnats Vest debt, hoping that they may at some time offer a P&F below 80% when simultaneously Hell would freeze over and the devil would put ice in his drink :rotfl:!!

It now seems to make more sense to bite the bullet and pay off the two enforcable debts (the biggest and smallest) whilst the incompetent predators try to cobble something together........?

8th January I wrote......all acknowledged and nothing coming back from three predators, each of whom have admitted that they cannot ask for payments........I wonder where this is going.............? How long will pass by? Am I waiting for something or will nothing actually happen?

Whilst three debts are on hold, I feel like I am on hold myself as this is becoming a waiting game and I cannot make certain plans. I do think I must now arrange P&Fs with the enforcable Gnats and Scank. At least that is what I am thinking today .

At the same time with these 'potentially unenforcables,' what if further months, years go by.......and nothing......? I have said to myself and said it on here that I will not walk away from any of these debts but with all I have learned about this industry, how eager should I be?

At the moment, my feeling on any which end up appearing to be unenforcable would be to calculate my own tight (very tight ) P&F. I would be tight as a Gnat's bottom certainly !! I could send that with a letter stating my rationale with the firm advice that I, myself now consider the matter to be closed. To hell with updating the CRA's........I do not care.......the debts will disappear in a couple of years in any case !!

Sorry to burble on for so long but I felt the need to put some thoughts into words. I am obviously delighted to hear anybody else's thoughts on this whole matter as I am not the only one :cool: !!

sourcrates

Brogden,

When I get home tonight I will reply to you.

I can't fiddle about on the stupid phone, I feel a long discussion coming on lol ��

January2015

Exciting day in the January household....some serious F&F offers being prepared this weekend:j

Seriously hoping to reduce the outstanding balance by at least £35k. More would be fantastic, but trying to stay grounded but believe me it's difficult to be grounded today:rotfl:

Scottishmummy

Paper work from SC arrived today so I am now ready to inform all the predators we are going self-managed. It was a single piece of paper with addresses and phone numbers on it with a covering letter. For some reason I had thought there would be at least a sheet of paper per predator. Oh well. So I have prepared the following letter to inform them all. Once I hear back from all of them I will actually be sending them a CCA request but this is the first contact. So how does this sound? Is there anything else I should add at the moment?

I have been making payments to you via Stepchange for some time now and have decided to take matters back into my own hands. After you receive your March payment from Stepchange I will be taking over and doing a self-managed DMP. In order for me to facilitate this could you please send me the bank details required for me to make payments direct to you. I also require an up to date balance of the account.

Until I have payment details from all of my creditors I will make token payments to you. Once I have details from everyone I will make payments on a pro-rata basis. As Stepchange calculated payments differently this may mean payments to you will change.

sourcrates

Brogden.

A realitive of my ex wife works for a well known collector of debts, in a city that once boasted the longest single span suspension bridge in the world, I think you know who I mean.

Now she's a nice girl, and not what you'd expect of a typical DCA employee, but she knows sod all about the consumer credit act, and even less about the law.

She reads from a script mainly, in a call centre, now once I would of agreed with you, that there entire Buisness model was based on chance, well it is, and it isn't.
Debtors can be put into 3 main groups :

(1) those who panic, and ring straight away to pay.
(2) the ones who write to request evidence.
(3) those who totally ignore them.

As with most things, it's the human element they depend on, they know a certain % will ring and pay straight away, as they panic, and don't know what else to do, they also know some will write requesting proof of the debt, then there's the 3rd group who will ignore them no matter what.

Which group do you think the DCA will target the most ?

Group 1, as they are after a fast turnover, with as little interference as possible, dosent matter if they don't hold the right paperwork, most people never request it, if everyone refused to pay, DCA's would be out of Buisness in weeks, but it won't happen, as they panic and pay up without question, or they make an arrangement to pay, so they more or less know how much they can make from certain batches of defaulted debt, it's all risk assessed based on how people will react to there threatograms and calls.

Only 1-10% of debts ever see a court room, (intermediary figures), 90-99% never do, those odds are staggering, they place a total reliance on there ability to get you to pay by pestering you on the phone, or by scaring you witless with official looking letters, and people fall for it, that's what keeps them in Buisness, anyone who makes a fuss, by requesting a CCA, or other evidence of a debt, usually gets put to the bottom of the pile for collection, people who ignore them completely, have around a 90% chance of not paying anything.

I'd take those odds any day of the week !!