DMP Mutual Support Thread - Part 12

motivated

Hi Rebecca. Just to add to what carbootcrazy said. I too have had letters but just think they are standard generated letters that creditors have to Send you.

When Halifax phoned me this evening the lady said "the letter you sent us said you would be paying £xxx per month but you haven't paid that amount". I replied with " if you had read the letter fully I stated that once I have sorted my finances I will be paying that amount, however for the time being I will only be paying token payments".

She was fine with it and I just think she was trying to get me to agree to the higher amount. She didn't get very far though . They too have now said they will close my account and the collections team will be sorting it out. I'm not worried about it all and neither should you. It's all just standard practice
Good luck
M

sourcrates

Rebeccadougherty wrote: »

Hi everyone
I didn't mean to sound rude the other day, I just panicked. I've had another letter this time from Lloyds saying I haven't kept to the agreement so they've cancelled it and will begin collection activity, even though I've only so far done one lowered payment which they were fine with when I spoke to them about it. Is this ok? I just continue?

Hi Rebecca,

I turned 51 this year, up until my early 40's I had a perfect credit record, then injury, fate, life, divorce got in the way, and in the years since, I've been insolvent twice, I have also learned a great deal about the debt collection industry, how it works, what you can do, what you can't, been there, got the t-shirt.

I don't use credit any more, but I have learned a great deal about the industry, if I took notice of every letter I ever received, I would of gone mad, I could of papered a room with the letters I have had over the years, I soon learned there only purpose was to instil the fear of god into you, and there clever generic wording, all designed to get you to contact them, you soon realise how ridicules these letters are.

Keep doing what your doing, when your ready, return to the payment you originally agreed on, don't go looking for the creditors approval, you can write and explain your reasoning to them, it will get through to them eventually.

If they don't cooperate, all they will do is pass the account to a debt collector, you make the same payment to them, nothing to be concerned about, they may choose to sell on your debt, again, you make the same payments to the new owner, along with a letter explaining your circumstances, everything will just tick along nicely, trust me.

vaper

Hi Rebecca
Just to add to what everyone else has said, don't worry Hun, we're all in the same boat. I had another glut of letters again yesterday, I've stopped reading them properly now, just a quick scan to see who of if they've passed my debt on to.
Stay strong and keep coming back here if you need to, there's usually someone here who can try and support you. Even if it is Saturday night and we should all be in the pub.
Hmmmmmm

motivated

vaper wrote: »

Even if it is Saturday night and we should all be in the pub.

In the pub, I am in debt in case I hadn't mentioned it :rotfl: Sorry vaper couldn't resist a chuckle
M

vaper

motivated wrote: »

In the pub, I am in debt in case I hadn't mentioned it :rotfl: Sorry vaper couldn't resist a chuckle
M

Haha, I knew there was a reason for sitting here watching crappy telly:rotfl:

heavenlyharry01

Hello all!

Had a cheeky night away at Alton Towers (which was much needed and fabulous!).
I made some particularly low f&f offers to some creditors a few weeks back, most have said a big fat NO, but Lloyds have countered with an impressive 70% off! It's an £8k debt, so I'm really happy with that!

vaper

heavenlyharry01 wrote: »

Hello all!

Had a cheeky night away at Alton Towers (which was much needed and fabulous!).
I made some particularly low f&f offers to some creditors a few weeks back, most have said a big fat NO, but Lloyds have countered with an impressive 70% off! It's an £8k debt, so I'm really happy with that!

Wow. 70% off, that's impressive.
How long did it take to get to that point? Just wondering in case I ever get a good F&F like that.

motivated

heavenlyharry01 wrote: »

Hello all!

Had a cheeky night away at Alton Towers (which was much needed and fabulous!).
I made some particularly low f&f offers to some creditors a few weeks back, most have said a big fat NO, but Lloyds have countered with an impressive 70% off! It's an £8k debt, so I'm really happy with that!

Hi HH and well done on you excellent result. Can I ask, are your debts still with the original creditor, how old are the debts and how far in arrears are you? Sorry for all the questions

heavenlyharry01

Hello

I've only been in a self managed DMP since November of last year.
That lloyds account is being managed by Westcot. So it's not long been defaulted.
It is a fairly old loan, which was originally for £15,000. We were paying just £1 per month since November.
I offered 25% and they countered, so I'm going to go for the 30%. Which they have confirmed in letter form that they will close the account and will not chase or sell the remainder.
I'm really pleased! Brings our total debt to under 70k now!!! Hahaha!

motivated

That's great news HH

I love hearing stories like yours, it guides me in the direction I am aiming for.
Thanks for sharing
M