DMP & Mutual Support Thread - Part 11

Brogden

Puzzcat wrote: »

Happy hump day dmp'ers...

Bit of news for you today.. I recently complained to N*twest about not defaulting my p.loan, having defaulted my od and cc and they agreed with me... the default is being backdated and they sent me £50 compensation....:j

Now I am waiting for the PRA (T) group to show some signs of life with my BC debt.. does anyone know should it automatically be defaulted when sold on to a DCA?

Much Love Puzz. x

Hiya Puzz

It absolutely has to be defaulted if being sold to a DCA . DCA's should only ever be dealing with defaulted debt. There may be a little delay whilst the default is put on the file......it seems most banks do this only once a month.

Just read your diary. Chin up my dear you are doing brilliantly (as though you didn't know !!)

Brogs xx

Puzzcat

Brogden wrote: »

Hiya Puzz

It absolutely has to be defaulted if being sold to a DCA . DCA's should only ever be dealing with defaulted debt. There may be a little delay whilst the default is put on the file......it seems most banks do this only once a month.

Just read your diary. Chin up my dear you are doing brilliantly (as though you didn't know !!)

Brogs xx

Hi Brogs,

Thanks for the clarification, I thought that was the case and shall be keeping a close eye on my noddle account over the next few months! The debt being BC hasn't shown a default despite the many threats (yes please) by them so hopefully now it is with the PRA (T) group it will be! If not a new battle will commence..

The only reason I am now concentrating on my credit file is I want all the horrible bits to drop off by the time the dmp is nearly finished.. mortgage purposes only.. not for more credit...:eek:

Love Puzz. x

[Deleted User]

Have recently started dropping into this thread and am finding out so much useful information that I really should have known before I embarked on my SC DMP in spring of 2013:o. I've subscribed now and am gaining inspiration and encouragement from the way you are all tackling your journeys (I hate that word, don't know what else to put though:rotfl:). Thank you:beer:

I've seen various people mention Noddle on here and I just thought I'd mention that I find it less than reliable:(. One of my debts isn't even showing at all, never has done and I've been paying it along with the others on the DMP since 2013. Another one, an overdraft from Santander, is now showing as SD which I see means satisfied. The SD symbol has only appeared on the current month's payment, prior to that it was always marked as up to date. It certainly isn't satisfied, which I assumed meant paid off in full, or am I misunderstanding something here? I still owe them about £260 and it is being paid at a rate of about £10 a month. The account was frozen/closed by Santander at the start of the DMP, it isn't an active account. I got no joy from Noddle, they just said that the latest figures hadn't been reported yet! If that's so, why mark it as satisfied? I had to phone Santander who said it was being paid as usual by SC and is therefore up to date. They had no intention of considering it satisfied.

Just treat Noddle with a certain amount of scepticism. There's no such thing as a free lunch IMO;)

2spicy

Holiday Holiday Holiday !!!!
My 40th, and Mr Spicy's 40th this year.. Ive been putting money aside from boot /ebay sales as well as some of the extra overtime I have been working for the last 12 months and have now (with the help of my parents credit card) booked 4 days in Dubai for us both as a treat.
I feel guilty for not putting the money towards our debts, but given the year weve had, I think its going to be nice to get some sun, relax and enjoy the sights (even if we will be taking some of our own food / eating on a budget there!)

Puzzcat

2spicy wrote: »

Holiday Holiday Holiday !!!!
My 40th, and Mr Spicy's 40th this year.. Ive been putting money aside from boot /ebay sales as well as some of the extra overtime I have been working for the last 12 months and have now (with the help of my parents credit card) booked 4 days in Dubai for us both as a treat.
I feel guilty for not putting the money towards our debts, but given the year weve had, I think its going to be nice to get some sun, relax and enjoy the sights (even if we will be taking some of our own food / eating on a budget there!)

Enjoy your very well deserved holiday Mr & Mrs Spicy and happy birthday too. X

sarriep

Hi all, looking for advice,
I had a letter from Erudio (Old Student Loans Company) saying the monthly payment has changed and is now £0.00 a month. Should I assume they have closed the account? Cancelled the balance? I've let Stepchange know so their payment can be redistributed between other creditors. Anyone else had this?
TIA
S x

2spicy

sarriep wrote: »

Hi all, looking for advice,
I had a letter from Erudio (Old Student Loans Company) saying the monthly payment has changed and is now £0.00 a month. Should I assume they have closed the account? Cancelled the balance? I've let Stepchange know so their payment can be redistributed between other creditors. Anyone else had this?
TIA
S x

Thats a good bit of news ... I would request confirmation of the balance, and then let your DMP company know before your next monthly payment.

2spicy

Brogden wrote: »

Hiya Puzz

It absolutely has to be defaulted if being sold to a DCA . DCA's should only ever be dealing with defaulted debt. There may be a little delay whilst the default is put on the file......it seems most banks do this only once a month.

Just read your diary. Chin up my dear you are doing brilliantly (as though you didn't know !!)

Brogs xx

Interesting .. of the 6 debts we have, only two were ever defaulted, that was EGG, and it was done within days of us notifying them of our intention to start our DMP.

3 of the remaining debts were sold off and one is still with the original creditor, who, never stopped charging interest, but for the last 5 years have been charging us "reduced" interest and accepting our monthly payments...(hint: .. look in signature!)

Needless to say when our debts are finally paid off in full, if there are any additional defaults registered, we will be challenging them, and insisting they are backdated to the time of the original DMP notification.

Katie22313

Hi All I have been reding through and found it very inspiring. I have today started the first steps of self DMP. I have listed all of my creditors down, contacted them all for statements of accounts and next week will be issuing them all with letters of feesable amounts I can pay.


any firther advice for me embarking on the DF journey?

Puzzcat

Katie22313 wrote: »

Hi All I have been reding through and found it very inspiring. I have today started the first steps of self DMP. I have listed all of my creditors down, contacted them all for statements of accounts and next week will be issuing them all with letters of feesable amounts I can pay.


any firther advice for me embarking on the DF journey?

Hi Katie,
I would say don't offer more than you can comfortably afford and make sure you have an emergency fund as you will have no access to credit.
Good luck.
Puzz.x