DMP & Mutual Support Thread - Part 11

blisteringblue

OK have changed my standing orders for a 4 month debt payment break. Phase 2 begins. Want the last defaults, and plan is to use the debt money for a couple of F&Fs in March. Depending on the reception from the creditors I may even carry it on longer and repeat the process. If they start getting CCJ twitchy finger I will probably start again in March.

Will write to them the day before they would normally be paid this month.

Self management is great

braveheart6612

Hi looking for some advice I'm on DMP with SC for 14 months some debts have defaulted and two MBNA cards have not as yet even though all the interest is stopped. Is it better to try and get them defaulted if I can and the 6 years woukd start feom the default date or in the future if I can get a some money make a f&f but if it's only partially cleared does the 6 years start from when the F&F is made ....I'm a bit confused .......

blisteringblue

braveheart6612 wrote: »

two MBNA cards have not as yet even though all the interest is stopped

MBNA are very DMP friendly and always stop interest right away. They told me that because my DMP would be under 5 years they would stop interest for this whole period as long as I made the payments. However they also said they would NOT default me in this time.

I want that default now, even though they are being nice re interest I am about to stop paying them.

In my experience you only get defaults if you pay them next to nothing for a while. I did it with Barclaycard and it forced a default, but if you are still with Stepchange they will not allow this. Hence the need to be self managed.

sourcrates

braveheart6612 wrote: »

Hi looking for some advice I'm on DMP with SC for 14 months some debts have defaulted and two MBNA cards have not as yet even though all the interest is stopped. Is it better to try and get them defaulted if I can and the 6 years woukd start feom the default date or in the future if I can get a some money make a f&f but if it's only partially cleared does the 6 years start from when the F&F is made ....I'm a bit confused .......

As Blister says, some companies refuse to default you, which obviously extends the time your credit file is affected.

Again the only way to force there hand is to either pay nothing, or a very small token payment, until they succumb.

This can take 6 months or more sometimes, and its not within stepchange`s remit to allow this, so you either have to go it alone, or stick with what you know.

The six years runs from the default date, or, if not defaulted, the date of settlement.

January2015

blisteringblue wrote: »

OK have changed my standing orders for a 4 month debt payment break. Phase 2 begins. Want the last defaults, and plan is to use the debt money for a couple of F&Fs in March. Depending on the reception from the creditors I may even carry it on longer and repeat the process. If they start getting CCJ twitchy finger I will probably start again in March.

Will write to them the day before they would normally be paid this month.

Self management is great

Payment break here as well (well token payments). Let me know how you get on - especially with extending it as that's something we may look at as well. :beer:

braveheart6612

Thanks for the advice , think I am going to stop SC dmp and go it alone and hopefully get a default on them...... kept up the great advice, really appreciate it

Tiggerlou

Been on a dmp with stepchange for 3 months now and all going okay (wish I'd done it years ago!)... anyhow just noticed my Lloyds credit card has gone from my online banking and wondered if that meant they had sold it on perhaps? Thanks

sourcrates

Tiggerlou wrote: »

Been on a dmp with stepchange for 3 months now and all going okay (wish I'd done it years ago!)... anyhow just noticed my Lloyds credit card has gone from my online banking and wondered if that meant they had sold it on perhaps? Thanks

Hi,

Its quite possible yes.

Although, I once had a loan account, alongside my bank account, which vanished in similar circumstances, i never did hear anything about it again, even after years had passed.

Had about a grand balance, i included it within my IVA, just to be certain, but i was never contacted about it, bank call handlers didnt know either when i inquired, mysterious huh !!

blisteringblue

January2015 wrote: »

Payment break here as well (well token payments). Let me know how you get on - especially with extending it as that's something we may look at as well. :beer:

Will do, I did think about tokens but as my main aim here are the final defaults figured paying nothing was the better option for this.

January2015

braveheart6612 wrote: »

Thanks for the advice , think I am going to stop SC dmp and go it alone and hopefully get a default on them...... kept up the great advice, really appreciate it

When I went self managed (after being with SC for a year), I used the templates from NEDCAB

You can just use your own, but I found that using NEDCAB's templates and quoting a NEDCAB reference number smoothed the path. Call handleers at credit companies are not very well informed and some seem to mistakenly think you need 'professional support' for a DMP. Even though with NEDCAB you never see or speak to anyone and you manipulate the figures to suit your circumstances, some credit companies seem to believe you are receiving professional guidance.

Just to be clear you do not need any 'professional' support to set up and run a DMP. Credit companies must treat you exactly the same as they would if you were with a DMP management company/charity such as SC.

NEDCAB also just helped me with the wording and re-calculating the figures after leaving SC.

Good luck with self-managed - it really is brilliant :beer: