DMP & Mutual Support Thread - Part 11

sourcrates

deniseb90 wrote: »

Thanks Carbootcrazy! I'm just about to ring Very - they sent a letter asking me to contact them - let's see what happens! eek!

I wouldn't bother to be honest, or if you do, just tell them your seeking help from stepchange and will be in touch in the next few weeks to let them know the details of your DMP.

Its best now to keep everything in writing so you have a written record of whats been agreed and what hasn't.

All too easy to get confused over the phone, and agree to things you shouldn't.

sullino

Hi

I went into a DMP on July 2009. 7 different creditors totalling ~£30000. It's now down to ~£20000 and most of the defaults have dropped off my credit reports.

However, I noticed there is a default on an account last July. The original creditor claims due to an arrangement to pay being in place the account didn't default at an earlier date and due to their not one being in place (temporarily, communication error from Payplan) they had to default my account at that time. I still made the payments and they still accepted them but they defaulted my account. Now I can understand why but I just think it's a little unfair to put it on some time after. It'll affect my ability to apply for credit at a later date as the rest have dropped off.

Is there anyone that has had a similar problem or can offer advice?

Apologies if this is the wrong thread.

sourcrates

sullino wrote: »

Hi

I went into a DMP on July 2009. 7 different creditors totalling ~£30000. It's now down to ~£20000 and most of the defaults have dropped off my credit reports.

However, I noticed there is a default on an account last July. The original creditor claims due to an arrangement to pay being in place the account didn't default at an earlier date and due to their not one being in place (temporarily, communication error from Payplan) they had to default my account at that time. I still made the payments and they still accepted them but they defaulted my account. Now I can understand why but I just think it's a little unfair to put it on some time after. It'll affect my ability to apply for credit at a later date as the rest have dropped off.

Is there anyone that has had a similar problem or can offer advice?

Apologies if this is the wrong thread.

Hi,

Not wanting to sound in any way pedantic, but you were in 30k of debt, you still have 20k left, do you really want to get into debt again and continue the roller coaster ?

If you want to complain to the lender that you should of been defaulted earlier, then send a written complaint to that effect.

deniseb90

Spoke to Very, they were very nice, have frozen interest and charges for 28 days until Step Change payments kick in - so not as horrendous as I thought - although the "big" ones, like Barclaycard and Virgin may be a different kettle of fish! dx

System

Sazzie23 wrote: »

Hi Ramble,

If self-managed, just write to them saying you have whatever unexoeceted expenses and they'll only be getting x amount. If with SC, call them so they can adjust the DD.

Saz

Thanks very much - Letters in the post today!

Ellieseleven

sourcrates wrote: »

You could refuse to pay Link, and also tell them why you refuse to pay, it could result in the return of the account to BC, or they could choose to make a comercial decision and write off the debt, that is not guaranteed of course, but makes for an interesting situation.

The fact remains BC sold on a debt without first defaulting you, or providing you with written notice of the default or the sale.

Well into the territory of schoolboy errors.

This is what the law says :

...........................................................................................
S.87 (1) of the CCA1974

S.87 Need for default notice
(1) Service of a notice on the debtor or hirer in accordance with section 88 (a “default notice”) is necessary before the creditor or owner can become entitled, by reason of any breach by the debtor or hirer of a regulated agreement,—

(a) to terminate the agreement, or

(b) to demand earlier payment of any sum
.............................................................................................

So, in order to sell on the debt, the original agreement must first be terminated.

Brilliant Sourcrates, this is just what I have been looking for. I'm going to write to BC and point this out.

I don't want to stop paying as I only have 4 payments left before I am debt-free but I do want to try and get the default backdated if I can.

Thank you for your help

Ellie x

Sazzie23

deniseb90 wrote: »

Spoke to Very, they were very nice, have frozen interest and charges for 28 days until Step Change payments kick in - so not as horrendous as I thought - although the "big" ones, like Barclaycard and Virgin may be a different kettle of fish! dx

deniseb90 wrote: »

Hi,

After years of swapping debt from one credit card to another, and finally not being able to gain a 0% card (or a loan) I have signed up with StepChange and a DMP. I have 4 creditors, BC, Virgin, Next catalogue and Very. I am just scared of receiving threatening letters and calls - I am quite prepared to pay off my debt, it's my debt after all, but can't afford the crippling interest. It's something that I've been worrying about for ages and it's all come to a head what with my divorce and not getting regular overtime anymore at work.

I'm just very glad that I've found this thread as it has somewhat put my mind at rest - just hope I'm as strong as you guys!

Dx

Hi Denisb and Welcome :hello:

I think your start will resonate with quite a few on here, you struggle and juggle and eventually it just can't go on. Well actually losing the 0% might have done you a favour, although it probably doesn't feel like that right now.

For me it's made me realise I wouldn't have managed to go into retirement with that sort of debt ( or spending mentality), and now I can see what's important to me financially.

That's not to see its an easy path, buts it's definitely a better route. As you'll have read on here there's lots of ways to make your dmp work for you, but starting it is the hardest part and you've already made that decision, so we'll done.

As SourC says, don't worry about the letters and the phone calls, many wil be automated, including the calls which surprised me at the start. I'd save the paperwork, just in case you ever need to refer to it. I have a file per creditor, it just gets dumped in there. Rarely hear from them now, perhaps once a year or so.

Was going to say don't call Very as they had a terrible rep on here for being awful on the phone, but obviously they've improved. I've found most ok to deal with by phone, but it depends on how you're like with calls and don't believe anything they say til it's in writing.

So for now, take a deep breathe, you've made the first steps. Have you read/thought about your emergency fund situation?

Saz

cresentmoon

It's been a long time since I posted on MSE, so long in fact I forgot my username and password!

My husband and I are plodding on with our DMP, we have recently gone self managed instead of continuing with Payplan due to their pushing of their other products.

All went well with Barclays accepting our offers but have now decided to transfer all of our debts over to the PRA group, who have been ok but I didn't appreciate having to go through all of our details again x 3!

Anyway, reason for posting is to ask for advice.

We are currently living in a property owned by my parents having moved here before a rather large operation on our daughter (double hip surgery due to cerebral palsy), we sold our previous home and had planned to build our own property on the substantial land that is available here. Sadly not going to be financially viable anymore so we are looking at making full and finals to our creditors.

2 of the debts were defaulted back in 2013, but Barclaycard appear to have been putting dmp markers on my husbands credit file until late last year when they defaulted it. Would it be worth asking for this to be backdated to match the other 2?

Reason I ask is that my parents are willing to sell us this property, we would have a substantial deposit to put down but we would need a mortgage to cover the shortfall.

So I guess I'm asking, shall I contact barclaycard regarding the default date? And is the possibility of getting a mortgage achievable? Any advice is greatly appreciated.

heavenlyharry01

deniseb90 wrote: »

Hi,

After years of swapping debt from one credit card to another, and finally not being able to gain a 0% card (or a loan) I have signed up with StepChange and a DMP. I have 4 creditors, BC, Virgin, Next catalogue and Very. I am just scared of receiving threatening letters and calls - I am quite prepared to pay off my debt, it's my debt after all, but can't afford the crippling interest. It's something that I've been worrying about for ages and it's all come to a head what with my divorce and not getting regular overtime anymore at work.

I'm just very glad that I've found this thread as it has somewhat put my mind at rest - just hope I'm as strong as you guys!

Dx

Our first payment to StepChange is due to go out 1st November, so it's all new to us too. (We sort help a few months ago and deferred payment for one month) I too was terrified and bombarded this board and messaged people directly with worries!!
at the moment I can say I worried for no reason and feel the happiest I have in a while. The relief I felt when we admitted our problem was huge, and seeking advice from StepChange was the best thing we could have done.
We were living week to week, trying to stay afloat until we were literally drowning in debt. Credit cards, store cards, loans maxed. Some weeks we had nothing to live on. I'm actually amazed we did so well for so long!! Going through StepChange will change our lives, with the budget we've worked out we will actually have more for food, clothes and living than we've had in years!
I'm gutted we didn't seek help sooner.

sourcrates

heavenlyharry01 wrote: »

Our first payment to StepChange is due to go out 1st November, so it's all new to us too. (We sort help a few months ago and deferred payment for one month) I too was terrified and bombarded this board and messaged people directly with worries!!
at the moment I can say I worried for no reason and feel the happiest I have in a while. The relief I felt when we admitted our problem was huge, and seeking advice from StepChange was the best thing we could have done.
We were living week to week, trying to stay afloat until we were literally drowning in debt. Credit cards, store cards, loans maxed. Some weeks we had nothing to live on. I'm actually amazed we did so well for so long!! Going through StepChange will change our lives, with the budget we've worked out we will actually have more for food, clothes and living than we've had in years!
I'm gutted we didn't seek help sooner.

You will find your story will be the same for a good many people, including myself, a few years ago.

Glad your feeling a bit better about the process.