DMP Mutual Support Thread - Part 12

silentsmith

Many thanks to January, Ploppy and Kidd for your responses. The guidance and information you have given is very helpful.
Our mortgage product expires at the end of April and we will have to approach our current lender (as clearly no one will touch us with a barge pole). Should I organise and secure a new product first and then organise a DMP?

Summer12

Thanks Kid77, I thought as much but given that my credit rating is well on its way down the pan I guess it doesn’t matter! I thought it may help in feeling less scared going into a dmp however it may all be irrelevant and they have all the agreements etc anyway.

WightLyn

Hi have lurked in here for a while and am in awe at the help and support provided.

I started my DMP with SC back in Feb 2013 with 6 creditors and a total debt of £44000, almost 5 years later I’ve still got 5 creditors, but the debt is now £12000 Still some way to go, but can almost see the light at the end of the tunnel now. I was paying £500 to SC but due to some issues have had to reduce this to £370 since the start of December.

So to my question…

The debt from in question was with Barclaycard but sold to Link Financial. I had a letter from Link Financial at the end of 2017 stating that unless I paid arrears of £236.64 they would begin court action. I spoke to SC who said that it was probably the stage before a default was issued, and to accept the default. But as Barclaycard had never issued a default and not wanting a new default, the others all reach 6 years in the next year or 2, I paid the £236. which was probably the wrong thing to do.

Now I’ve just had an email from Link Financial to my work email address, which I don’t ever remember corresponding with them on but that’s a different issue! The email says:

Your account is showing as overdue and currently has arrears of £91.00. Please contact this office immediately on free phone 0800 064 4499 in order to make your payment quoting your reference XXXXXXXXX

I was paying Link £80 reduced to £56 from December, from April I should be able to increase the payments back to £80.

So my question is should I now try and raise funds to pay the £91.00, speak to Link or ignore it?

apologies for the long post, hope it makes sense

Many Thanks

Lyn

selinek

Zerodebtsoon wrote: »

Hi all

I have previously been on here under a different user name but after years of not posting and forgotten details I had to start again.



So firstly I need to send CCA request letters. I have a template letter ready but wanted to check about the postal order / £1 payment. The problem is we live overseas so if it has to be a postal order I will struggle ! Has anyone sent a cheque or is that not the done thing? Worst case scenario I could ask my sister to get postal orders for me. Any advice would be most welcomed.

I sent chqs to all 9 of my creditors. Postal orders were the payment of choice as some DCA’s were using signatures to on agreements that didn’t have one. Not an issue now some of my chqs were returned for “good will reasons” Easier track who’s cashed them along with the recorded delivery.

Welcome back !

System

Hiya. Hope everyone is well in DMP land.

I currently have a SM DMP, which I am paying back at a £100 a month. Debt is approx £20K. We have had a turn-around in finances, with both of us getting much better paid jobs, and free childcare kicking in shortly, so I am hoping to start putting money aside to pay down debts sooner. Debts were only defaulted in late 2016, early 2017.
We hope at some stage to go for a mortgage again at some stage - before these debts are going to disappear from our credit file.
My question is this - am I better off to settle these debts in full so I get a paid in full marker on my file, rather than making F&F offers and getting a partially settled marker. I presume the PS marker would stay on my file until 6 years from default date, and that this might look worse to a mortgage broker?

Just realised this might be a better question for the mortgage board - but grateful for any responses here too ;-)

[Deleted User]

ramblehan wrote: »

Hiya. Hope everyone is well in DMP land.

I currently have a SM DMP, which I am paying back at a £100 a month. Debt is approx £20K. We have had a turn-around in finances, with both of us getting much better paid jobs, and free childcare kicking in shortly, so I am hoping to start putting money aside to pay down debts sooner. Debts were only defaulted in late 2016, early 2017.
We hope at some stage to go for a mortgage again at some stage - before these debts are going to disappear from our credit file.
My question is this - am I better off to settle these debts in full so I get a paid in full marker on my file, rather than making F&F offers and getting a partially settled marker. I presume the PS marker would stay on my file until 6 years from default date, and that this might look worse to a mortgage broker?

Just realised this might be a better question for the mortgage board - but grateful for any responses here too ;-)

Can I ask if these are old debts (pre 2007)? Have you CCA'd them? It doesn't necessarily have to be pre 2007 debts though as some posters have had great success with newer debts:j. Should any of your debts prove to be unenforceable because of non-compliant paperwork you would be in a much better position to either stop paying altogether or negotiate a really low settlement amount. January managed paying just 10% of one balance to obtain a F&F settlement:j. Actually, Full&Final is something of a misnomer as the debts are only partially settled but that's the general term for them. Whatever they're called they end up being settled.


Sorry, can't help with the mortgage question:o. Thankfully our mortgage was paid off in the late 1990s:j

System

Hi Carboot. Thanks for responding. They are newer than that - I guess I could still do CCA requests but if that means I'll get a PS marker on my credit file that may still not help with trying to get a mortgage.
I also posted this on the mortgage board and someone made a useful comment which was to make the enquiry about mortgages before settling anything and work out which would be better (Paying off debts in full and getting XX interest rates, Vs Partially settling and interest rates and then make a call on whichever was the best) - seems like a sensible suggestion....i guess any money I save on paying the debt, will just be chucked at a bigger deposit.

It's all a bit of a game......just not one I'd like to be playing!!

motivated

Hi all
Just checked our credit reports to see that on both mine and DHs our MBNA accounts are no longer showing. They have been sold onto PRA who we are now paying. Could this be why do you think?

Some good news too. Our PPI complaints have thrown up £2,400 for a loan and 2 CCs. :eek: No idea what CCs they are referring to but I’m not complaining

No account details just names and addresses so this will boost our F&F account massively.

Will be making F&F offers before the years out. I love DMP land :rotfl:

leanne12345

Hi, is anyone else having trouble getting onto NEDCAB? It's saying it's security certificate expired 3 days ago so the connection isn't private etc. I've tried on my phone and laptop but not sure if it's just me?

motivated

leanne12345 wrote: »

Hi, is anyone else having trouble getting onto NEDCAB? It's saying it's security certificate expired 3 days ago so the connection isn't private etc. I've tried on my phone and laptop but not sure if it's just me?

Hi. It’s saying the same for me too. Wonder what that’s about
M