DMP Mutual Support Thread - Part 12

selinek

Daisypop wrote: »

Hi all
Just need some advice. Am currently changing over to self managed from Stepchange.
I have checked my credit report and one of my debts which was to Very and collected by NCO Arrow/capquest was not defaulted.
This debt was settled on my DMP in 2015.
Am I right in that if this is not marked as a defaulted account and instead marked DM that it will be 6 years from 2015 when my last payment was made before it drops off my file? It is a closed account. All of my other accounts were marked as defaulted in 2012.
Also I have a next account which is zero balance and was paid off in 2016 as part of DMP it is still an open account but has AR and then a green circle above that with the letters UC and no default. What do I do about this one?
I have emailed Arrow but wanted to see if anyone on here could help
Thank you

I had an account with Barclays who didn’t default even though I was paying reduced amount through step change from 2008. They sold the debt onto Link many years later. The account was paid off last year and is now closed but still showing on my credit report. I am going to write to Barclays stating they Have penalised me for paying my debts and request them to remove A/R from acct.
I would be interested to know how you get on with yours. I will post an update for other member who might be in the same boat.

GibbsRule_No3

I have a question post DMP. DMP finished more than three years ago. It has been very good and meant I can look forward to a fairly comfortable retirement in a few years with all the money that comes from that being mine. I do rent my property from a housing association so will always have rent to factor in, I pay monthly by DD. This means that it is almost in credit, some weeks by a lot, obviously, then every so often it will show a few pounds owing, over the year it equals itself, but if as is being mentioned on some sites rent will be taken into account when doing credit searches, will the few weeks per year that is says “debt” show on the search as a negative? I don’t at present need or want anything, except to possibly change a bank account to a different one than a Cashminder. Curious to know though what that “debt” affects? Others, younger in the same boat may have more worry if indeed that week makes a difference on a search.

Daisypop

selinek wrote: »

I had an account with Barclays who didn’t default even though I was paying reduced amount through step change from 2008. They sold the debt onto Link many years later. The account was paid off last year and is now closed but still showing on my credit report. I am going to write to Barclays stating they Have penalised me for paying my debts and request them to remove A/R from acct.
I would be interested to know how you get on with yours. I will post an update for other member who might be in the same boat.

Hi Selinek
I will let you know once I have a response.

System

Daisypop wrote: »

Hi Selinek
I will let you know once I have a response.

I would also be interested in your outcome as I have 1 not defaulted and hopping to clear it next month.

sourcrates

GibbsRule_No3 wrote: »

I have a question post DMP. DMP finished more than three years ago. It has been very good and meant I can look forward to a fairly comfortable retirement in a few years with all the money that comes from that being mine. I do rent my property from a housing association so will always have rent to factor in, I pay monthly by DD. This means that it is almost in credit, some weeks by a lot, obviously, then every so often it will show a few pounds owing, over the year it equals itself, but if as is being mentioned on some sites rent will be taken into account when doing credit searches, will the few weeks per year that is says “debt” show on the search as a negative? I don’t at present need or want anything, except to possibly change a bank account to a different one than a Cashminder. Curious to know though what that “debt” affects? Others, younger in the same boat may have more worry if indeed that week makes a difference on a search.

As far as I am aware, your Rent payment is not recorded on your credit file.

It’s much the same as paying any bill by DD, some months your in credit, some your in debt, it’s not recorded anywhere so makes no difference.

selinek

Daisypop wrote: »

Hi Selinek
I will let you know once I have a response.

Excellent::T

GibbsRule_No3

sourcrates wrote: »

As far as I am aware, your Rent payment is not recorded on your credit file.

It’s much the same as paying any bill by DD, some months your in credit, some your in debt, it’s not recorded anywhere so makes no difference.

I thought there was talk of Rent being added to show as a “positive”, to help people who are Rent payers get accepted, for possibly buying property. Like I said I don’t really need it for anything at my age but I was curious by the “red” marker of a few pounds every so often because of the DD and wondered if the DD method of payment would have been taken into account, thus showing the “CR” markers as well as the ‘Debt” marker, if eventually Rent is added. I guess if it just shows you are paying rent and how much, for how long, then as you say it will be treated as my Electric bill during the Winter, showing a debt but the Summer being vastly in credit.

sourcrates

GibbsRule_No3 wrote: »

I thought there was talk of Rent being added to show as a “positive”, to help people who are Rent payers get accepted, for possibly buying property. Like I said I don’t really need it for anything at my age but I was curious by the “red” marker of a few pounds every so often because of the DD and wondered if the DD method of payment would have been taken into account, thus showing the “CR” markers as well as the ‘Debt” marker, if eventually Rent is added. I guess if it just shows you are paying rent and how much, for how long, then as you say it will be treated as my Electric bill during the Winter, showing a debt but the Summer being vastly in credit.

It makes no difference weather the account says "credit" or "debt", it naturally fluctuates over the year, all that is recorded (if anything) is if you made your payment on time, or not, nothing else.

System

Well now that we are off on the SM route I have decided to keep my diary going again, if anybody is interested at all. It will stop me clogging up this thread with unnecessary waffle and also help keep me motivated to get these debts paid quicker....
https://forums.moneysavingexpert.com/discussion/5161213

Here's the link if anyone is interested.

Enough17

January2015 wrote: »

Hi

I can't comment on property charges - what I can comment on is that I had £95k unsecured debt, and we have approx £250k equity in our property. We have been slogging away at our debts for 3 years. 2 of those years have been token payments. Not one single creditor has even mentioned securing a charge on our property.

My advice is keep communicating with your creditors and, from my experience, they are fine. I personally have not, and am still not, worrying about any of my unsecured debts being charged against my home.

Start the ball rolling with SC and sit back and don't worry until you find you need to worry. It will likely never happen - seriously.

Sorry for late reply, we had laptop problems. Thank you so much for your advice Jan 2015. I made a call to step change this morning but now have to ring business line as we rent out the property we own. Apparently things have changed since I last contacted step re DMP. I felt like I was getting somewhere and getting everything in motion and now this...I will call them and see what they say. Has anyone else experience of this? What are business line like to deal with? I am also sending a letter to all creditors today as Ive been too scared too ring them. Thanks to everyone else who replied too.

Wondering now if I should do DMP myself to get this going once and for all as feel this will hold me back again. Anyone has advice on going it alone I would be very grateful. From my noodle report, the cards I have are all defaulted. I think I have read this is good, is that right? I know its not really good.

Thanks