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abby, when your creditor took you to court, did you then just pay it all off? Or was there a place for partial settlement negotiation? Also, did you pay it after receiving CCJ papers from them? Thank you0
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One thing you all need to bear in mind is a DMP is not a regulated agreement like an IVA or a DRO.
It's an informal arrangement between yourself and your unsecured creditors.
There is no mechanism for creditors to gain more money from you, they can ask you to pay more, and you are free to reuse.
Even a court takes into account affordability when determining CCJ repayments, there's no need for any cloak an dagger like stuff, they get what you can afford to pay them, that's it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thanks sourcrates0
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But if you have money in the bank, wouldn't court say that you must be able to afford to pay at least large chunk of your debt?0
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somuchindebt wrote: »But if you have money in the bank, wouldn't court say that you must be able to afford to pay at least large chunk of your debt?
As with all things that are means tested, there are limits, you are allowed to have a certain amount of money to live on before they are taken into account by a court.
The creditor can apply for an "order to obtain information" where you must attend court to provide details of your finances.
But as said previously, that would not be relevant for a debt management plan, only applies once a creditor has obtained a CCJ against you, and then it's just one of a number of options open to them.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you Sourcrate. So at the time of CCJ Court only orders to pay, then you make an offer to carry on like on DMP, if creditor suspects you have money then they will try to get this order to obtain information? And then they could get onto your savings? Sorry, all a bit complicated to me...0
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somuchindebt wrote: »Thank you Sourcrate. So at the time of CCJ Court only orders to pay, then you make an offer to carry on like on DMP, if creditor suspects you have money then they will try to get this order to obtain information? And then they could get onto your savings? Sorry, all a bit complicated to me...
Basically it's non of a creditors business how much money you may or may not have, the only way they have to find out is by the above legal process.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thanks Sourcrates!0
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somuchindebt wrote: »abby, when your creditor took you to court, did you then just pay it all off? Or was there a place for partial settlement negotiation? Also, did you pay it after receiving CCJ papers from them? Thank you
I had 30 days to pay to avoid receiving a CCJ. That is categorically the only reason I paid it. If there hadn't been a CCJ I wouldn't have paid it. And you had to pay in full. Once court papers arrived is when I paid itMoney money money.
Debt
Dec 2016: [STRIKE]£25,158.71[/STRIKE] £21,999.99
#28 Pay off debt in 2017 £3803.550 -
Thanks Abby0
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