DMP Mutual Support Thread - Part 12

Sazzie23

Enough17 wrote: »

I posted yesterday and not received any replied yet. Just not sure if posting in the right place?

We too have now received letters from PRA re mbna cc debts.

Getting worried I will get a charge on property. Spent yesterday getting numbers together to submit to step change. Just really want reassurance this is best course of action. Had no contact with dca's or made any payments in 10 months. Just want to get it sorted now.
50k debt - all unsecured
Mortgage - approx 90k

Can they put charge on property?
Thanks for reading.

Hi

Well done for making a start at sorting it. Your debt sounds significant but a long way from being the most we've had on here so don't despair.

Charging orders are possible, but very unlikely, they've been a rarity in the time I've been on the forum (4 years). I've had debts (about £16k ) with MBNA over different accounts and they've always been fine. But even if you did get a charging order they only apply if you sell, there's no compulsion to sell, just if you do, you have to arrange to pay them.

MBNA did keep interest on at a low rate for ages for me but eventually gave up when I gave up paying ........

Good luck. Stepchange is a great starting point maybe you'll consider self managed further down the line.

Saz

hign10pines

How long should it take a creditor to default the account? My QQ debt which falls off my report in May 2018, that was just sold to Motormile, has 3 green ? on my report then D.

I'm waiting for a response to the prove it letter before I do anything else as I'd like to drag it out til it falls off my account. Trying to find out when I last paid/made contact to see when it gets statute bared also.

System

This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?

make_the_change

Anniee88 wrote: »

This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?

I have a debt with Next and Capital One and both defaulted me and I haven’t heard from them in nearly a year so neither have been getting anything from me.

System

make_the_change wrote: »

I have a debt with Next and Capital One and both defaulted me and I haven’t heard from them in nearly a year so neither have been getting anything from me.

Ok that’s good, it’s ‘scary’ getting the first default letter but I know I don’t have to take any notice of it unless it says ‘action before court’ or something like that. I have been swimming along for the past year and not getting anywhere (except paying off one loan) so trying to work overtime and build up a fund to pay them off in the next 2 ish years then I am literally never getting credit again.

sourcrates

Anniee88 wrote: »

This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?

Action through the courts for debt is actually quite rare, less than 10% of defaulted debt ends up in court, although that figure has risen this last year.

As a rule of thumb, as long as you have some kind of payment plan in operation, or keep your creditors informed as to why you cant pay, seeking action through the courts wont happen, its usually old accounts that have been sold on a few times, and the new owner is been ignored, that get legal action taken against them, although it depends on the creditor.

It costs money to take a debtor to court, the costs are added on to the debtors full balance, but if that person cant pay, then its just a waste of money.

Suseka97

kram wrote: »

Anyone got thoughts or opinions on this please. :j
Tia

We re-mortgaged with the same lender without any problem - but if you are looking at alternative lenders you may well struggle to get a good offer. Your credit file will have taken a hit and will indicate you are a 'bad risk' - so whilst they may lend, because a mortgage is secured on the house, they'll not be inclined to offer favourable deals. So best stick with who you're with and get the best deal you can for now.

Suseka97

Okay, another update.

I've still not heard back from LINK following my complaint about the (lack of) paperwork provided in response to the CCA request. They are, however, sending me reminders that I'm behind with payments.

The PRA Group have replied to a similar complaint -but only to advise they have put the (3) accounts on hold again and are chasing Barclays for the information.

So - it looks unlikely that I'll get the DMP up and running this month, which is fine by me (more money for the F&F pot) but I'm hoping to be able to move this on, one way or another, in February.

It is surprising how the DCAs drag their feet at times, but I guess a symptom of having so many accounts - too many to handle methinks.

January2015

Anniee88 wrote: »

This morning I sent my letters to all my creditors (6) a mix of 2 store cards, 2 overdrafts and 2 credit cards. I also received my first default from NEXT, they were very quick to default my account within one month of my first missed payment, which is good because I want them all to default me. What makes a company apply for a CCJ? My most expensive debt is 4300 and the others are £2000 or less, would they be less likely to go to court if it’s a low amount?

Hi

I don't think the amount of an individual debt matters. As Sourcrates says, if you keep in touch with your creditors and either make some sort of payment or let know know why you are struggling it is highly unlikely for debts to get taken to court.

hign10pines

So I've been told on another forum that MMF could give me a 'backdoor' CCJ. I am not getting anything through the post only email. Could they do this, don't I need court papers first, then set up a payment plan.

The only reason I'm doing a DMP not a DRO is so I don't get any 'public information' on my report and therefore need a guarantor when renting.

I have currently sent the 'prove it' letter then I'll ask for a statement of accounts to find out when I last made a payment, then I'll offer something like £1 a month for 6 months, then make an F&F offer