Huge amounts of debt, advice on DMP needed

Keezing

Thanks both, I appreciate the advice.

However if I Google "Creditor Name + CCJ" there are tonnes of people who have recently been taken to court and received CCJs by the same creditors.

Given that I owe 30K to one creditor alone - it seems like if they're ever going to take someone to court I'm that guy!

January2015

Keezing - I've sent you a PM

CP2016

Keezing wrote: »

Thanks both, I appreciate the advice.

However if I Google "Creditor Name + CCJ" there are tonnes of people who have recently been taken to court and received CCJs by the same creditors.

Given that I owe 30K to one creditor alone - it seems like if they're ever going to take someone to court I'm that guy!

You know, there's nothing to stop you starting out with StepChange, or another charity, and then seeing how you feel about going self-managed in 12 to 18 months. It is all a bit overwhelming at first and the support that SC offers when you're just starting out can take so much of the pressure off. I stayed with SC but that's because my DMP came about through a redundancy so my SC DMP payments were effectively token payments for a few months anyway and I got most of the defaults within a year.

The_Debt_Expert

Cheers for the insults folks, much appreciated. I joined this forum to try and help people, as I started reading it one day and felt I could offer useful tips and advice based on my extensive knowledge.

Just because you post thousands of times doesn't make you an expert. I see posts every day from sourcrates that contain wrong information and bad advice, yet everyone just goes with it because he spends his life posting on here. Much of it is helpful, but plenty is wrong. Is he/she qualified to give debt advice? For people questioning me, I have an up to date qualification in money and debt advice and know what I'm talking about.

In this case I didn't say that what I explained always happens, I advised that's what SHOULD happen. Ultimately as some have mentioned creditors back date the default when it's raised with them, because they know this. Hopefully the FCA will clamp down on this.

sourcrates

The_Debt_Expert wrote: »

Cheers for the insults folks, much appreciated. I joined this forum to try and help people, as I started reading it one day and felt I could offer useful tips and advice based on my extensive knowledge.

Just because you post thousands of times doesn't make you an expert. I see posts every day from sourcrates that contain wrong information and bad advice, yet everyone just goes with it because he spends his life posting on here.

May not be the advice you want to hear, or what's taught in class, but its advice drawn from my extensive experience in the real world, and believe me you know nothing until it's actually happened to you, I've been everything except bankrupt.

And I don't spend my life posting on here, I have a job, and I have a family, I choose to post on here in order to help people, as I was once helped by this forum.

No other hope or agenda than that.

If you see me post anything inaccurate or untrue, feel free to pick me up on it.

January2015

The_Debt_Expert wrote: »

Cheers for the insults folks, much appreciated. I joined this forum to try and help people, as I started reading it one day and felt I could offer useful tips and advice based on my extensive knowledge.

Just because you post thousands of times doesn't make you an expert. I see posts every day from sourcrates that contain wrong information and bad advice, yet everyone just goes with it because he spends his life posting on here. Much of it is helpful, but plenty is wrong. Is he/she qualified to give debt advice? For people questioning me, I have an up to date qualification in money and debt advice and know what I'm talking about.

In this case I didn't say that what I explained always happens, I advised that's what SHOULD happen. Ultimately as some have mentioned creditors back date the default when it's raised with them, because they know this. Hopefully the FCA will clamp down on this.

No insults intended here.

Regarding your comment "Just because you post thousands of times doesn't make you an expert" and specifically referring to Sourcrates and some of his advice being "wrong information and bad advice" - I think from the perspective of debt advisors, such as StepChange, and creditors (banks/credit card companies) etc., the advice given by Sourcrates and others is techinically 'wrong' but it's important to realise it is given with the knowledge of having been on the other side of the fence. Sourcrates has been there and been through the debt nightmare and knows what works in debtors favour rather than debt advisors and debt management charities/companies. As a qualified debt advisor you have knowledge of what is agreed, legislated, should happen etc. Unless you have sat on the debtor side of the table with a pile of debts yourself to clear, you lack that knowledge and experience. The great thing about this forum is that we, the debtors, get the best of both worlds. We greatly appreciate people like you posting your advice and guidance and we are willing to take it on board. However, it's a two way street - as an adviser you need to take heed when people who have been, or are going through DMPs give you information based on actual experiences with creditors rather than what the rules/regulations/lending code say should happen.

As someone who, as I said before, wholeheartedly thank Stepchange for starting us on the road to managing within our budget and liaising with creditors to clear our debts, I also know that the way I manage my DMP now is totally against the 'rules' set by StepChange. I've learnt, from the advice of Sourcrates and others on this forum, what I can get away with. That sounds like I am taking the mickey out of my creditors. I don't believe I am. I am paying my debts off and my creditors are happy with our arrangements.

Seriously - we do welcome people such as you to the forum. I think your chosen user name was what led to some 'joshing and joking' on this occasion.

Cheers :beer:

The_Debt_Expert

I understand that, you clearly mean well and a lot of what you write is correct from my point of view. I only mentioned you because someone in the thread did. I joined up for exactly the same reason but from a debt advice point of view. There is surely value in both the life experience of having been in debt, and also having an understanding of all debt solutions and regulations in the industry. For people to question my name on here despite not posting anything factually incorrect is a bit of a kick in the teeth when I'm just trying to help. Then there's the fact I've only posted a few times - surely everyone has to start somewhere or do people on here not accept newcomers? A shame if not.

In terms of what I was discussing, when it comes to legalities with defaults, for example determining when a debt drops of a credit file, creditors are forced to back date it to the earliest date they could have defaulted the account. Hence what I stated is factually correct. The fact it isn't always reality I accept, but if you challenge a creditor on it they will probably back date it.

If creditors are breaking the rules or not doing things in the right way, they need to be reported and they'll stop doing it. The FCA are doing a great job and will hopefully crack down on this sort of behaviour in time.

The_Debt_Expert

Fair dos, I can accept ridicule over a username. I didn't know what to choose to be honest, I haven't really used forums before.

January2015

The_Debt_Expert wrote: »

If creditors are breaking the rules or not doing things in the right way, they need to be reported and they'll stop doing it. The FCA are doing a great job and will hopefully crack down on this sort of behaviour in time.

They are reported - regularly :rotfl:

It shouldn't be such a battle though. Barclaycard for instance.....I don't need to say any more because most people on this forum will know what I mean :rotfl:

January2015

The_Debt_Expert wrote: »

Fair dos, I can accept ridicule over a username. I didn't know what to choose to be honest, I haven't really used forums before.

I didn't know what to choose either - can you tell ?? I had my light bulb moment on 7th January 2015, hence the username January2015 :rotfl: It seemed a good idea at the time and now I'm stuck with it;)