DMP Mutual Support Thread - Part 12

Twins

Billy12345 wrote: »

Hi twins,

Oh dear I have just sent my I&E statement and a letter asking for CCA to Cap one. I'm not filled with confidence about them :eek:

You may have more luck than me, I just found them totally useless. I've never had so many letters in one day and they were all from them! :rotfl:

I'll let you know when I hear back

Julie67

Hi Twins, What a nightmare with Capital One! I'm constantly amazed by how poor these companies are.
I've so far had two unenforceable. Three that have responded saying they will try and send them. Nationwide have been the worst. They have not even sold the debt on but as we hadn't even had a response from them so we gave them a call.
They had taken the £1 we sent with the request for the CCA and used it to pay it off the balance, totally disregarding the request that was with it! So now they will write to us within 7 days acknowledging the request when they have been through the post from May:eek:
I'm learning to try and relax a bit though. No news is good news and as all the accounts are on hold (I'm not planning on paying anything to the uneforceable ones) it's giving us chance to build up the emergency fund. Hope you get it sorted.

Leanneglos1

So you all mention unenforceable debts and requesting CCA's from lenders, im doing as much research as I can and wondered whether someone could break it down in simple terms of why ask for the CCA and what makes the debt not forceabke and how it can benefit me, hopefully all q's make sense:)

torheb

To Leanne12345 we had a sofa debt with dfs but the credit they gave us was with creation and they have accepted the DMP payment and we're one of the first to respond they have been easy to deal with really.

leanne12345

torheb wrote: »

To Leanne12345 we had a sofa debt with dfs but the credit they gave us was with creation and they have accepted the DMP payment and we're one of the first to respond they have been easy to deal with really.

Our finance is through Hitachi, I have had dealings with creation in the past and they were a nightmare so I'm pleased they have been better with you. I had actually already sent my letter to Hitachi with my DMP payment offer before thinking further about this one so I will see if they reply and then decide what to do. Hopefully they are co-operative but if not I will make proper payments to them. Thanks

sourcrates

Leanneglos1 wrote: »

So you all mention unenforceable debts and requesting CCA's from lenders, im doing as much research as I can and wondered whether someone could break it down in simple terms of why ask for the CCA and what makes the debt not forceabke and how it can benefit me, hopefully all q's make sense:)

In a nutshell, as I've posted about this many times previously, you can make a CCA request for information at any time as long as a balance remains on your account.

You are basically asking for a copy of your credit agreement and statements of account, if the creditor cannot provide them, then the debt becomes unenforceable in court.

That's just the basics, if you want all the detail, Google "unenforceable credit agreements".

If you need further clarification just ask.

vaper

I have a question.
I know that getting debts defaulted quickly is the aim, but is this just so that the debt drops off your credit file quicker or some other reason like interest being stopped etc?

StopIt

vaper wrote: »

I have a question.
I know that getting debts defaulted quickly is the aim, but is this just so that the debt drops off your credit file quicker or some other reason like interest being stopped etc?

A little bit of column A, a little bit of column B.


Getting interest stopped is possible via an Arrangement to Pay but is less common than straight defaulting and the debt being sold to a DCA.


As an AR marker stays for 6 years after the debt is paid off, it's preferable to just default as usually by this point most peoples credit files are trashed anyway.

DavesDevil

Well we have done it - we have gone self managed after 2.5yrs on our DMP with StepChange.

I have to admit that the NEDCAB site has been so easy to use and made it a very easy process. We have 9 creditors (£55k of debt) and I have written to all of them and spoken to most of them. We are making token payments of £1 for six months to 6 of them, M&S have said we can't afford to pay them anything so don't want anything for 6 months and the remaining 2 are in my partners name so just need him to talk to them so i can set up token payments to them.

We own a second property and have had a nightmare 18months with a tenant who wasn't paying rent, it took all our EF to get them evicted and we have been trying to sell it for the last 10months. Fingers crossed the offer we have on it will complete in the next few weeks, we can pay our arrears on the mortgage and council tax, buy a cheap car and save another EF. Then next January I may be able to start making inroads into the debt and a few cheeky F&F's.

Just have to say I love this thread and my mantra (having learnt from you guys) is 'They can't take what I haven't got' - i also have no fear talking to any of my creditors either!

Hope the weather is better where you all are than it is here!

sourcrates

DavesDevil wrote: »

Well we have done it - we have gone self managed after 2.5yrs on our DMP with StepChange.

Hope the weather is better where you all are than it is here!

Well done, good move !!!!

As for the weather, a boat would be more appropriate today methinks !!