DMP & Mutual Support Thread - Part 11

sourcrates

Scottishmummy wrote: »

I'll be adding that bit about contact to my letter. They already know this but no harm in reminding them.



Since no-one has commented or made other suggestions I'll presume this is okay to send.

Scottishmummy, that sounds fine.


To the point, with no flannel.


Good job !!!!

livvi82

Hi I have just started my dmp after getting into trouble with payday loans and realising it just couldn't carry on.

I'd like to thank everyone on here as reading through these posts gave me the strength to approach step change.

I am having a little bit of a wobble at the moment though. Opened the post today to a default notice from Halifax credit card (they never accepted the dmp), a default notice from wage day advance and a final demand for payment from Nationwide credit card

It scares me when they mention possibility of doorstep collection. I have young children and I worry they will come when I am in on my own with them. I hope it doesn't happen....

sourcrates

livvi82 wrote: »

Hi I have just started my dmp after getting into trouble with payday loans and realising it just couldn't carry on.

I'd like to thank everyone on here as reading through these posts gave me the strength to approach step change.

I am having a little bit of a wobble at the moment though. Opened the post today to a default notice from Halifax credit card (they never accepted the dmp), a default notice from wage day advance and a final demand for payment from Nationwide credit card

It scares me when they mention possibility of doorstep collection. I have young children and I worry they will come when I am in on my own with them. I hope it doesn't happen....

Hi,

They are just industry standard template letters they send out.

Default notices are required by law, doesn't mean anything, just a process they have to go through.

Doorstep collectors are another threat, they do use them, mainly in large built up areas where they can visit lots of properties in a short space of time, all you have to remember is they are just self employed collectors with a fancy name, you don't have to speak to them, you don't have to answer the door, they have no power at all, THEY ARE NOT BAYLIFFS !!!!!

If any should call, keep the door locked, tell them to go away, film them on your phone, just be polite, say your dealing with your debts through stepchange and to go away, that's all you have to do.

You have to remember that 99% of what's in those letters is utter tripe, designed specifically to get you worried, and to contact them, they try to play mind games with you.

File them away safely mind you, I have a big blue bin I used to use lol

muppetscotland

Is it me or is this weird?

Got a letter from RBoS today. They are my main creditor and between loans, overdrafts and cc we owe them around £60k (yes I know, it's horrendous).

The letter is from their Risk Management Team and has a different number and address to the financial difficulties team and most significantly it gives me a named person to deal with. Her letter actually says she will be on holiday etc so not to contact till 11 April!

Is this usual? Has anyone else had a specific person allocated to them?

Having a wobble!!!

gilmum

Having spent more than 2 years in ignorance of this process, probably continuing to stick head in sands due to the (unnecessary) shame I felt in going into a DMP I am finally getting my act together and fighting back about the way creditors have treated us since going into a DMP. Had a great result already with Lloyds reducing our balance by £7K. Been reading back through some of the posts (I don't think I'll ever get through all 100+ so sorry if the answer is already here) and have now worked out the significance of being defaulted and got myself a Noddle account to see what's going on. So, on my Marks and Spencer card account I was defaulted in April 2015, however, I had been in persistent arrears since November 2013. So they did not default til arrears had been occurring for 18 months. Is this something I can complain about maybe as being "unfair" under the Lending Code as all the defaults I have had are before April 2014 - so this default is going to cause me problems re mortgages for an extra year, for no apparent reason. Any help gratefully received.

Little_Miss_Sunshine

sourcrates wrote: »

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 !!

Thanks for taking the time to post this. So interesting. I really wish I'd known a year ago what I know now. I can't tell how scared I was when I cancelled all the dd's. In fact just as I'd finished cancelling them at about 11pm - the phone rang!!!!! I was sure the world knew what I'd just done!!! It was my mum. I've learnt so much.

muppetscotland

I realise I didn't word my previous post very well so will try again now I feel less wobbly

I've had a letter from my biggest creditor (and nemesis) Royal Bank in response to my holding letter intimating our decision to seek advice ref a DMP.

The letter has been personalised and gives me a named account manager with the bank''s risk management team. This seems really OTT in comparison to the very standardised responses I've had from our other creditors. We are owe this bank 60k so I am fretting that the risk management and account manager approach means we are under their microscope rather than just being a number in a pile of other creditors.

Or perhaps this is not usual? Can anyone shed any light? With thanks.

Scottishmummy

Muppetscotland out of 14 debts I have had one named person. It hasn't made any difference as far as I can tell. Hopefully it will be the same for you.

muppetscotland

Scottishmummy wrote: »

Muppetscotland out of 14 debts I have had one named person. It hasn't made any difference as far as I can tell. Hopefully it will be the same for you.

Thank you Scottish Mummy - can I ask if the debt with the named account manager was particularly large or did it seem random? Thank you.

Scottishmummy

£15k egg loan now with wuscot. So totally random but it was our largest individual debt.