DMP & Mutual Support Thread - Part 11

waveycat

Ok...I must be paranoid! I had been told that they could see what you had in accounts!

sourcrates

waveycat wrote: »

Hope you don't mind me asking.....but could a creditor see you had funds in your accounts or have had a recent lump sum? Or am just paranoid?!

The only people who know what's in your bank account are you, and your bank.
Now if you have debt with your current bank, you are advised to change banks, as they have a right to set off any debt you owe them, from any account held in your name with the same banking group.

There are rules governing this obviously, is that what you meant ?

Creditors in general cannot look at your bank account, how would that be possible ?
Only you and your bank have that privilege.

System

Spoonhead88 wrote: »

7 months in my DMP, Paid of 40.30% of Debt. I seem to be wishing my life away i just wish i could hit fast forward.

40% - oh how I wish i was in your shoes! well done. (Can't wave the magic wand of time travel though, sorry!)

waveycat

Thanks for your help.

May be it's the rules I need to understand?

snowbean

Hi all, it's ages since I last posted here, as since our dmp was set up around 3 years ago, we've just been plodding along paying the monthly payments. We've had to reduce the payments a couple of times, due to me going from full time to part time, and then being made redundant, but other than that it's all been going well and we'd pushed it to the back of our minds mostly, as our dfd is so far away (2029).

At the end of last year though, we had to borrow from my parents a few times, and eventually I came out and told them about the dmp and the full amount that we owe. Anyhow, to cut a long story short (too late!) they have offered to help us with some money now, which would otherwise come to me as part of an inheritance from them in the future. So the upshot is that we're in a position to hopefully agree full and final settlements with our creditors. Some months ago I did contact the various creditors over the phone and made some low offers which were all refused.

I'm planning to go ahead and make fresh offers in writing, but I have a couple of questions first which maybe you lovely people could advise on?

Between us we have 7 debts, 3 in my husband's name and 4 in mine. All the ones in his name were defaulted between Sep '13 and Jan '14. Of the ones in my name, 2 defaulted end of '13 and 2 haven't. One of the ones not defaulted is BC now with PRA group. So my first question is, regarding all the defaults, is the damage to our credit ratings fully done already? Does it make any difference in that respect whether those debts are fully or partially settled now? Secondly, regarding my non-defaulted debts, how do they get marked if they're only partially settled, as in, do they still drop off your credit file 6 years from the date of the f&f, or does it stay on your file indefinitely? Is there any need to try to get them defaulted now? Or would paying these ones in full be advantageous in some way? I'm sure that's probably been answered before, but I've read back so much I've addled my brain a bit

sourcrates

Spies wrote: »

My partner has a historic debt that Cabot have recently purchased. It's due to be 6 years since the default on Oct 1st.

She has requested proof of the debt via email but hadn't explicitly requested the CCA. Does another email need be sent with the correct wording?

Hi,

If you want to do a formal CCA request, you should do this in writing, enclosing the statutory £1 fee, in the form of a postal order.

I take it your looking to defend this on the basis the account is/will be statute barred.

Remembet that would only apply if no payments have been made in the last 6 years, and she hasn't written to them acknowledging the debt.

LadyMorticia

Hey everyone.

SC have added my two debts that I mentioned previously and the payments will go out to them in my August payment. My monthly payment is still the same to SC so it does mean that my other payments to my creditors will go down slightly.

LadyMorticia

Also, on NCO online it says 'account broken' with no explanation. What does this mean? Thank you.

grant1wish

Hi all,


Quick update that people may be interested in. Got home from work last night to find a default letter from Barclaycard! They stopped interest on my account a couple of years ago, but never defaulted.




I was expecting to feel really happy about the default, but I'm not so sure now. Will they start up the interest at some point? Plus it is now 6 years to get off my file.
Is it worth trying to get it backdated by 3 years like all my other defaulters? Has anyone had success doing this.


G1W

Puzzcat

grant1wish wrote: »

Hi all,


Quick update that people may be interested in. Got home from work last night to find a default letter from Barclaycard! They stopped interest on my account a couple of years ago, but never defaulted.




I was expecting to feel really happy about the default, but I'm not so sure now. Will they start up the interest at some point? Plus it is now 6 years to get off my file.
Is it worth trying to get it backdated by 3 years like all my other defaulters? Has anyone had success doing this.


G1W

First thing to check is whether they actually default you.. BC are well known for sending we will letters and then not doing it. Yes you should try to get it backdated but no idea if you'll have any luck.. The bigger problem is the AP markers that they will be marking on your file every month as they stay on for 6 years after the debt is settled, so a backdated default would be preferable.. Best check your credit report.. Interest won't start up after a default...

Puzz. x