DMP & Mutual Support Thread - Part 11

Sazzie23

BeingDebtFreeStartsHere wrote: »

Good morning all,

Well, finally a letter from BC informing us that a default has been registered on the account. Hubby followed this up with a quick call to BC to confirm this and the lovely chap on the phone said the default has been registered and that they are back dating it to when we started our DMP in Oct 2014!!
Result :j:T

Last creditor to tackle to get our final default registered is The Co-operative!!

Take care,

BDFSH x

Great work BDFSH, just remind us how you achieved this fantastic news

muppetscotland

I've often wondered about this....what if you have a charging order for asignificant debt - say a's much as 20% of your house value, and a charging order has been granted.

Then suppose you don't sell your house and keep it once retired etc etc. Does the creditor just wait? What's the point of the charging order?

Thanks all-often read this thread to give me ongoing heart as I plod on with my DMP....

DavesDevil

TiggerLou

We have (had!) a loan with Securetrust/Moneyway - it was one of the first to default and be passed to a DCA - had very little contact with them. Seem happy enough with the monthly payment via StepChange xx

sourcrates

muppetscotland wrote: »

I've often wondered about this....what if you have a charging order for asignificant debt - say a's much as 20% of your house value, and a charging order has been granted.

Then suppose you don't sell your house and keep it once retired etc etc. Does the creditor just wait? What's the point of the charging order?

Thanks all-often read this thread to give me ongoing heart as I plod on with my DMP....

A charging order is a first step to securing the debt you owe your lender, usually people repay a sum monthly, but some don't.


If you choose to ignore the court, and default on the CCJ, then the creditor can apply to the court for an "order for sale", and if granted, you would have to sell your house in order to repay the debt.


But, within that scenario, there are numerous opportunities along the route, for you to have your say, orders for sale are rare here, the last figures I saw were for 2013, some 45,000 orders for sale granted, from some 4 million county court judgements, and there are numerous ways to stop this from happening as well.

Tiggerlou

DavesDevil.... thanks for your reply.... you're the first I have found who has had anything to do with Moneyway so reading that has made me feel much easier.... I imagined them being the ones who were more pushy and in contact all the time as when I rang for help they were really sharp and said they couldn't help in anyway... I imagined those would be the ones who would be causing me to dread a knock on the door... thanks again x

sourcrates

Tiggerlou wrote: »

DavesDevil.... thanks for your reply.... you're the first I have found who has had anything to do with Moneyway so reading that has made me feel much easier.... I imagined them being the ones who were more pushy and in contact all the time as when I rang for help they were really sharp and said they couldn't help in anyway... I imagined those would be the ones who would be causing me to dread a knock on the door... thanks again x

OP, defaulted consumer credit debts nearly always go to a DCA, original creditors don't normally take you to court, its usually a long way down the line when a debt has been sold on a few times, that that possibility exists.


Only a few companies use doorstep collectors, motormile finance, wescot, provident, to name 3, its important to understand these are just self employed people collecting money, just because they collect money does not mean they have magical powers, they have no more rights than you or I, and certainly cant enter your home without your permission.


Only a court appointed bailiff can enter your property, and then only under certain circumstances, in order for a bailiff to call, you would need to have defaulted on a county court judgement, and even then, there use is rare in consumer debt cases.


You are worrying unnecessarily here.

Tiggerlou

Thanks sourcrates.... I know I am most probably worrying about what may happen when I needn't... its just a scary process in the initial stages I guess - even though I know I have done the right thing x

sourcrates

Tiggerlou wrote: »

its just a scary process in the initial stages I guess - even though I know I have done the right thing x

Yes I understand that, I was in your shoes once, that's why its so important, if only for your own piece of mind, to know exactly what creditors collection processes are.


They wont tell you this information of course, you have to find out for yourself, because the reality in most cases, is less than 10% of all defaulted accounts ever get to a court room, more than 90% never do.


I found the more I learned about the process, the less of a threat it became, and now I realise most of what's spouted is just hot air, as long as you are paying your DMP it will tick along just nicely, most folk on here will vouch for that !!

snowbean

BeingDebtFreeStartsHere wrote: »

Good morning all,

Well, finally a letter from BC informing us that a default has been registered on the account. Hubby followed this up with a quick call to BC to confirm this and the lovely chap on the phone said the default has been registered and that they are back dating it to when we started our DMP in Oct 2014!!
Result :j:T

Last creditor to tackle to get our final default registered is The Co-operative!!

Take care,

BDFSH x

Ooh, that's very interesting to read! I'm thinking I'll definitely give it a go with ours too then, and ask them not only why haven't they defaulted, but ask them to backdate it as well.

Tiggerlou

Finally got my email through confirming my dmp with SC has been set up.... bring on payment 1 and lets gets this debt chipped away at - however long it may take its not bloody coming back!!! Now the waiting to see who will accept and who won't... xx