DMP Mutual Support Thread - Part 12

Link182

Hi,

I'm currently in the process of organising a DPP with Stepchange. We've got to the stage where creditors are starting to accept / reject offers.

I have a question regarding the discretion of letters I receive.

Basically, I live at home with my parents and I do not wish for them to find out my current situation at the moment. They are not in any position to help and have their own (non-financial) problems at the moment.

I have had an offer accepted by Tesco Bank for a credit card debt.

I received a letter today stating that as they accepted the offer they would be defaulting and terminating my account. I would be getting a default notice and termination notice through the post in due course.

My question is. Will these letters be discreet? Obviously I've seen the stock images of "DEFAULT" "FINAL NOTICE" stamped across the envelopes. Do companies such as Tesco bank do this or are the envelopes more discreet?

Again, I am just worried about adding to my parents stresses at the moment until I get myself sorted with a plan of sorts.

Thanks for any and all advice.

January2015

Link182 wrote: »

Hi,

I'm currently in the process of organising a DPP with Stepchange. We've got to the stage where creditors are starting to accept / reject offers.

I have a question regarding the discretion of letters I receive.

Basically, I live at home with my parents and I do not wish for them to find out my current situation at the moment. They are not in any position to help and have their own (non-financial) problems at the moment.

I have had an offer accepted by Tesco Bank for a credit card debt.

I received a letter today stating that as they accepted the offer they would be defaulting and terminating my account. I would be getting a default notice and termination notice through the post in due course.

My question is. Will these letters be discreet? Obviously I've seen the stock images of "DEFAULT" "FINAL NOTICE" stamped across the envelopes. Do companies such as Tesco bank do this or are the envelopes more discreet?

Again, I am just worried about adding to my parents stresses at the moment until I get myself sorted with a plan of sorts.

Thanks for any and all advice.

I can reassure you that all the default letters I received from creditors were discreet. There was no indication on the external envelope as to the contents, nor who they were from. The return address on most was just a PO Box and post code - no creditor or debt collection agency names appear on the external envelope.

Hope this helps.

sourcrates

Link182 wrote: »

Hi,

I'm currently in the process of organising a DPP with Stepchange. We've got to the stage where creditors are starting to accept / reject offers.

I have a question regarding the discretion of letters I receive.

Basically, I live at home with my parents and I do not wish for them to find out my current situation at the moment. They are not in any position to help and have their own (non-financial) problems at the moment.

I have had an offer accepted by Tesco Bank for a credit card debt.

I received a letter today stating that as they accepted the offer they would be defaulting and terminating my account. I would be getting a default notice and termination notice through the post in due course.

My question is. Will these letters be discreet? Obviously I've seen the stock images of "DEFAULT" "FINAL NOTICE" stamped across the envelopes. Do companies such as Tesco bank do this or are the envelopes more discreet?

Again, I am just worried about adding to my parents stresses at the moment until I get myself sorted with a plan of sorts.

Thanks for any and all advice.

OP,

Please dont post the same thing multiple times, it just leads to confusion for everyone.

Thanks.

heavenlyharry01

Just got our first settlement offer at 50% off.
Brings out creditors down to just 10!!!!! Lol
It's our smallest debt, but pretty pleased with it.

[Deleted User]

heavenlyharry01 wrote: »

Just got our first settlement offer at 50% off.
Brings out creditors down to just 10!!!!! Lol
It's our smallest debt, but pretty pleased with it.

Well done:T:j:beer:

This thread moves so quickly and I'm sorry to say I can't recall who your debts are with or for how much (if you mentioned it before that is):o.

Don't mean to pry but wondered who it was with in case I have debts with them myself. I know some companies are very stingy when it comes to accepting offers:mad:. I'm hoping to negotiate F&Fs but don't think I have enough saved to offer anything worthwhile yet:(.

January2015

heavenlyharry01 wrote: »

Just got our first settlement offer at 50% off.
Brings out creditors down to just 10!!!!! Lol
It's our smallest debt, but pretty pleased with it.

Well done - it's an amazing feeling when you managed to knock one predator off the list, and at a great discount too :j

Like CBC, I am wondering which predator you had success with. I have ten left to target myself:rotfl:

System

Hello everyone. Hope you are doing OK.

I think I have pretty much got my 3 debts defaulted now - have been making token payments for nearly 6 months to make it happen....Now they have defaulted me, do I go back to "normal" reduced payments rather than token £1 payments or still stick with tokens and wait until it gets sold on to someone?

Sort of itching to start paying things down, but don't want to mess up the default (or find out they are sending me to court!)

Good news from our household on a financial front is that DH has finally got a job so I think we will be able to start making a dent into the debts soon.

Thanks Ramble x

heavenlyharry01

Well done

This thread moves so quickly and I'm sorry to say I can't recall who your debts are with or for how much (if you mentioned it before that is).

Don't mean to pry but wondered who it was with in case I have debts with them myself. I know some companies are very stingy when it comes to accepting offers. I'm hoping to negotiate F&Fs but don't think I have enough saved to offer anything worthwhile yet.

We have 9 different creditors, 11 debts! £75k in total!

This is the smallest of them by far. It's Argos but sold onto Zinc. Tried to get them down lower but they wouldn't budge.
We are paying £1 to most of the creditors, apart from NRAM and creation who just can't reply to our letters properly, so they are getting nothing at the moment. (We are self managing)

Keezing

heavenlyharry01 wrote: »

We have 9 different creditors, 11 debts! £75k in total!

This is the smallest of them by far. It's Argos but sold onto Zinc. Tried to get them down lower but they wouldn't budge.
We are paying £1 to most of the creditors, apart from NRAM and creation who just can't reply to our letters properly, so they are getting nothing at the moment. (We are self managing)

It sounds like you have a similar strategy to me.

I'm currently paying £1pcm to all creditors except for the ones that have defaulted and sold the debt to DCAs. I have 8 creditors, 3 defaults so far (since December), and of those 2 of them are being "managed" by a DCA and 1 has been bought by a DCA. The latter accepted my DMP offer almost immediately.

Weirdly, out of 8 creditors, 4 are continuing to report no missed payments to the CRAs even though the payment was only £1. They never call or write. They seem happy with their £1, so I suspect I'll need to stop payments altogether to get them to default.

January2015

heavenlyharry01 wrote: »

We have 9 different creditors, 11 debts! £75k in total!

This is the smallest of them by far. It's Argos but sold onto Zinc. Tried to get them down lower but they wouldn't budge.
We are paying £1 to most of the creditors, apart from NRAM and creation who just can't reply to our letters properly, so they are getting nothing at the moment. (We are self managing)

Many thanks for this information - always useful to know which predators play the game and to what level they will drop to :beer:

Unfortunately for me this is not one of our predators Still, never mind - I keep watching the postbox like a hawk waiting for the latest round of F&F rejection letters. I've become a bit obsessed and I think the postman is getting a tad paranoid as I am always at the door as he walks up the path :rotfl: He will think I am stalking him at this rate