DMP & Mutual Support Thread - Part 11

sourcrates

Little_Miss_Sunshine wrote: »

Hi, just wondering how to respond to cap quest - email or letter - they are managing a BOS debt - they have yet to comply with my CCA request. Is it best to always write?
As ever - thanks

Always best in writing, anything to do with legalities or debt should be in writing only.
Until they do respond, your debt is unenforcable, so as long as the breach continues, they can do nothing.
Give them a month, then send a reminder, these things take time, the 14 days are just guidelines.

Little_Miss_Sunshine

sourcrates wrote: »

Always best in writing, anything to do with legalities or debt should be in writing only.
Until they do respond, your debt is unenforcable, so as long as the breach continues, they can do nothing.
Give them a month, then send a reminder, these things take time, the 14 days are just guidelines.

I thought so. I CCA'd BOS and then moorcroft when they started managing it. Now it's with cap quest. Not sold on though.

[Deleted User]

Little_Miss_Sunshine wrote: »

I thought so. I CCA'd BOS and then moorcroft when they started managing it. Now it's with cap quest. Not sold on though.

Sorry if the answer is obvious:o but how do we know whether accounts have been sold on or are just being managed by third parties? Some companies are a bit remiss at keeping us informed and 'in the loop':(

heavenlyharry01

My DMP pack is being sent out and should be here by Wednesday...National Debtline said its fine to cancel direct debits and stop paying the non essential bills. (Somehow we haven't defaulted anything until now)
I am going to the bank next Monday to upgrade a safe bank account - then I need to change all my essential direct debits to the new bank account.

What should I expect in the mean time?? Lots of red letters, phone calls?
I'm scared

It's been a long time coming using credit cards to pay bills, pay for food...now the loss of two of my three jobs and a third surprise child we can't cope.

sourcrates

carbootcrazy wrote: »

Sorry if the answer is obvious:o but how do we know whether accounts have been sold on or are just being managed by third parties? Some companies are a bit remiss at keeping us informed and 'in the loop':(

Some DCA`s just manage accounts for clients, some just buy bad debts, some do both.
If your account is sold to a 3rd party, you will be informed in writing that this has happened.


Likewise if a debt is passed to a DCA, you will again be informed in writing.


Sometimes these letters tend to be a bit vague, you can usually tell the difference because a DCA managing a debt will refer to "there client", wear as a new owner will come straight out and say "we have bought your debt and all correspondence should not be directed to us" something along those lines.

Sleepysophie

Hi everyone.
I subscribe to this thread so have been reading everyone's comments from a distance for about a few weeks now. I have noticed a lot of you mention BC and how you can't get them to stop applying interest? I had exactly the same thing. We have been going on this DMP for just over 2 years now and I must have written to them at least 4 or 5 times but they always applied interest and even threatened to increase it at one point?! Anyway, today (its probably been 8 months since I last wrote) they have sent me a statement with no interest on it? So they have stopped applying additional interest.:j
I have no idea why as other form the paper statement there has been no other correspondence?
So unfortunately, I can't tell you how to get it stopped but it has eventually stopped?
One of the reasons they told me it wouldn't stop was because my minimum payment was much lower than what I was paying them per month. This has not changed. The minimum stated is £55 and I have paid around £100 per month since it started but hadn't been making much progress given the interest they were charging me was just short of 30%APR and I had over £3k on there.
I just wanted to ask if this good thing had happened to anyone else out of the blue like this? and also to offer hope for those chasing it. It may have taken over two years to get the message across but we got there in the end.
I won't tempt fate by asking for it to be backdated as it is probably all an error!!
Good luck with your journey everyone! :T

HEROWHENZERO

I entered into a DMP with StepChange in June, I keep noticing on here that people have moved to self managed. What benefits does self managed give you, as with SC every penny I give them goes towards the debts.

make_the_change

Just an update, Next have agreed to default and backdate the default which is good news. Now to move onto the other three.... :T

sourcrates

heavenlyharry01 wrote: »

My DMP pack is being sent out and should be here by Wednesday...National Debtline said its fine to cancel direct debits and stop paying the non essential bills. (Somehow we haven't defaulted anything until now)
I am going to the bank next Monday to upgrade a safe bank account - then I need to change all my essential direct debits to the new bank account.

What should I expect in the mean time?? Lots of red letters, phone calls?
I'm scared

It's been a long time coming using credit cards to pay bills, pay for food...now the loss of two of my three jobs and a third surprise child we can't cope.

Hi,

Ideally you should get all your accounts defaulted first before starting any kind of debt management plan.

Usually no payments for 6-8 months or so does the trick, if you don't get defaulted, you instead get "AP" markers (arrangement to pay) which will stay on your credit report for a further 6 years AFTER you have finished paying off your debts.

So getting defaulted and saving a good emergency fund, should be your first priorities.

Non of the debt charities will tell you this.

Once your account defaults, no further interest or charges can be added, the line is drawn in the sand so that 6 years from date of default, they will all disappear from your credit file.

Very important you do things in the correct order.

heavenlyharry01

So literally stop paying?
Cancel the direct debits and ignore the bills?

Should I write to the creditors?

I was told it was good I hadn't defaulted! Arghh it's so confusing!