DMP & Mutual Support Thread - Part 11

sourcrates

mica2 wrote: »

hi, just wanted to briefly thank you all for your incredible support! I am too frazzled right now to reply properly but hopefully soon.

"Frazzled" good choice of words lol

motivated

OrganisedNic wrote: »

Hi , I have a personal loan with first direct and wasn't able to cancel the SO

So my advice - cancel as soon as you can and make sure you have no money in your FD account - a basic bank account not related to any of your debts is strongly recommended !
All the best

I too have just cancelled my DDs for 2 loans on my old account. I very nearly waited until nearer the time they were due. Glad I have done it now after reading your post. Thanks for the heads up.

Still waiting on confirmation from SC hopefully it won't be too long now
M

Daisypop

Hi all
After 7 months I've had a reply to my cca requests from 1st credit.
Original creditor marbles cannot provide paperwork therefore 1st credit have said they are closing the account however will contact me in the future if they can obtain it as the debt remains outstanding. Am I safe now to cancel this one- has anyone had this before but then been contacted afterwards as they have found paperwork?
Second debt originally Opus - still nothing provided and is unlikely I'm thinking after all this time they will be able to, however they are still trying to locate. Do I still not pay this one until it's found?
I was originally thinking of offering a really low settlement figure to get rid of them completely?
Any advice appreciated.

blisteringblue

Ooh interesting letter from PRA(T) group this morning. They have purchased my BC debt now rather than just managing it. So looks like the 4 month non payment is working. It's my biggest debt now so going to be perfect for F&F at the end of next year.

Horribly worded letter though, instantly mentioning litigation recovery, even though they have all my Financial Statements from NEDCAB. At least they have email so it saves me a stamp squashing those thoughts flat.

January2015

blisteringblue wrote: »

Ooh interesting letter from PRA(T) group this morning. They have purchased my BC debt now rather than just managing it. So looks like the 4 month non payment is working. It's my biggest debt now so going to be perfect for F&F at the end of next year.

Horribly worded letter though, instantly mentioning litigation recovery, even though they have all my Financial Statements from NEDCAB. At least they have email so it saves me a stamp squashing those thoughts flat.

PRAT are the worst group for acknowledging or answering emails. We send them, they disappear into the web.....and then nothing. Nothing for weeks. Nothing for months and months. Very occasionally we get a response - so I know we are sending to the right email address.

They do answer letters though.

January2015

Daisypop wrote: »

Hi all
After 7 months I've had a reply to my cca requests from 1st credit.
Original creditor marbles cannot provide paperwork therefore 1st credit have said they are closing the account however will contact me in the future if they can obtain it as the debt remains outstanding. Am I safe now to cancel this one- has anyone had this before but then been contacted afterwards as they have found paperwork?
Second debt originally Opus - still nothing provided and is unlikely I'm thinking after all this time they will be able to, however they are still trying to locate. Do I still not pay this one until it's found?
I was originally thinking of offering a really low settlement figure to get rid of them completely?
Any advice appreciated.

Hi Daisypop

Firstly, I would stop making payments to any debt whilst the creditor (or debt collection agency) could not provide compliant CCA paperwork.

Regarding the Marbles debt - stop paying it immediately. Nothing else to do except file the letters advising they cannot find the agreement away safely.

Regarding Opus - stop paying it immediately. You don't have to do anything else, but if you want to feel comfortable about it you could write again and remind them you requested CCA on xx/xx/xxxx and to date have not had a response and that you will not be making payments until they provide you with the requested documentation. This is probably what I would do, just because I like to dot the I's and cross the T's and don't want to sit and wait for moaning letters that I'm not paying.

Regarding offering settlement figures. If they do not have the CCA paperwork and you want to settle, then offer 10% in full and final settlement of the debt(s) using the National Debtline template letter.

If they cannot prove the debt is enforceable 10% is better than nothing to them. Again, this is what I would do as it puts the lid on the debt(s) and even if they find the paperwork in the future they will not be able to chase or sell on the debt (although they may try to sell on, so make sure you keep all correspondence regarding settlement).

Daisypop

Thank you January that's good advice

blisteringblue

January2015 wrote: »

PRAT are the worst group for acknowledging or answering emails. We send them, they disappear into the web.....and then nothing. Nothing for weeks. Nothing for months and months. Very occasionally we get a response - so I know we are sending to the right email address.

They do answer letters though.

I will send a letter too then as they give me 14 days notice to contact them. Not that I'm scared by that

Sherrera

Haven't been on in a while after starting self managed DMP in March last year. Most debts now sold on and defaulted and every company I've dealt with has been incredibly understanding and supportive - even the debt collectors to whom somw of the debts have now been sold.

Anyhoo! Posting today because I've had some (potentially) good news. Northern Rock has admitted they are due me a refund for PPI on a mortgage from 2000-2008. However the potential downer is that we have an unsecured loan originally from NR which then went to Kent Reliance when NR was broken up, and that loan is on our DMP.

So my question is quite 'niche' but worth a try I thought as so many people on this forum and so much experience - would Kent Reliance be able to off set the PPI from Northern Rock against the loan? As far as o can tell from Google they are two separate entities and KR effectively just bought all the (at that time) undefaulyed personal loans from NR. So I can't see how they could get their hands on the cash. Any thoughts? With thanks

Daisypop

So following my post earlier I've decided to leave the old marbles account taken over by 1st credit alone for now, I doubt they will be able to find the agreement and if they do I'll start paying again.
The other account originally Opus I have offered 10% full and final, figured nothing to lose and will get this one settled . I've asked for it in writing if they agree with the usual blurb in. Pretty sure they won't be able to provide the cca but I don't want it hanging over me.
I'll let you know how I get on fingers crossed!