DMP Mutual Support Thread - Part 12

sourcrates

First lesson to learn Katie is, its just business, they are instructed how to treat you now under threat of enforcement action by the FCA.

Be nice to people in debt or else, is basically what there told.

Same goes for debt collectors, all must now treat you fairly, and any agreement must be affordable, under the fair debt collection rules.

They are been nice because they have been told to be nice..........

KatieAnne

January2015 wrote: »

Why on earth would you keep paying them for 4 years if they prove to be UE :huh::huh::huh::huh:

sourcrates wrote: »

What is it you think they could do to you. that makes you so scared ?

As regards settlements, it would not make much difference to be honest, the creditor would still hold out for a big payday because the very fact your asking means you will eventually pay them what they ask in order to settle, even though you could walk away and pay nothing.

Thank you Sourcrates
So basically would I be better off going Self Managed in a few months, then sending CCA requests to them, stop paying them if UE and saving that money we were paying out each month to DMP.
I am scared because everything is running smoothly at the moment.
Katie
x

selinek

KatieAnne wrote: »

Thank you Sourcrates
So basically would I be better off going Self Managed in a few months, then sending CCA requests to them, stop paying them if UE and saving that money we were paying out each month to DMP.
I am scared because everything is running smoothly at the moment.
Katie
x

I was where you are up until September 17. I had been with SC for nearly 8 years. Reading the experiences of people on here and another site gave me the courage to so self managed. I had a couple of days of “what have I done!” After submitting 9 cca’s with one is enforceable, reading and learning taking the leap has been the best thing I had done. Shame I didn’t do it before. But we live and learn. I get letters from creditors I have learnt To develop a thick skin. You’re in the best place to gain your strength and courage

KatieAnne

selinek wrote: »

I was where you are up until September 17. I had been with SC for nearly 8 years. Reading the experiences of people on here and another site gave me the courage to so self managed. I had a couple of days of “what have I done!” After submitting 9 cca’s with one is enforceable, reading and learning taking the leap has been the best thing I had done. Shame I didn’t do it before. But we live and learn. I get letters from creditors I have learnt To develop a thick skin. You’re in the best place to gain your strength and courage

Thank you xxx

System

KatieAnne wrote: »

Thank you Sourcrates
So basically would I be better off going Self Managed in a few months, then sending CCA requests to them, stop paying them if UE and saving that money we were paying out each month to DMP.
I am scared because everything is running smoothly at the moment.
Katie
x

Welcome Katie. We were with SC for 3 years and just gone SM this month. I was really worried about doing it, but it was so easy. All the creditors ( except M**rcroft) have replied to our letter and are happy with our reduced payment. M**rcroft haven't bothered to reply, so at the moment we are not paying them as they have not supplied their bank details to set up the SO......their loss and I am not worrying about it. When we first started our DMP I would have been mortified at the thought of missing a payment, but now I really don't care.

We have also sent some CCA requests this month and only one creditor has responded ( 3 accounts with them) and the accounts have been put on hold until they can produce the required documents. If it turns out that these are UE, then we will withhold payments until they come up with a good F&F.

You'll find after the initial few months of getting letters, which you will soon realise are mostly automatically generated, everything goes along swimmingly and nothing will phase you at all.

KatieAnne

ploppy57 wrote: »

Welcome Katie. We were with SC for 3 years and just gone SM this month. I was really worried about doing it, but it was so easy. All the creditors ( except M**rcroft) have replied to our letter and are happy with our reduced payment. M**rcroft haven't bothered to reply, so at the moment we are not paying them as they have not supplied their bank details to set up the SO......their loss and I am not worrying about it. When we first started our DMP I would have been mortified at the thought of missing a payment, but now I really don't care.

We have also sent some CCA requests this month and only one creditor has responded ( 3 accounts with them) and the accounts have been put on hold until they can produce the required documents. If it turns out that these are UE, then we will withhold payments until they come up with a good F&F.

You'll find after the initial few months of getting letters, which you will soon realise are mostly automatically generated, everything goes along swimmingly and nothing will phase you at all.

Thank you Ploppy...
It's amazing how relaxed I feel since DMP has started, I realise how stressed I was.....always checking bank account and stressing if my sons were late paying house keeping...incase the mortage wasnt paid..... now we have everything organised and have moved dates of Direct Debits to come out at the same time each month.... Before we had no money to spend because we were paying for everything on credit cards and any money left was paying the credit cards.....a vicious circle.... We are still discipling ourselves and learning to live without credit cards......so give it a couple of months and we will definately go self managed. ( We have only paid 2 payments to SC so far).... I quite enjoy looking at our finances and putting money aside for Birthdays etc each month . Myself and hubby are so much closer too, before my husband knew we had problems but we did not talk about it, My hubby always said he never bought anything, which was true.... but now we are a team......not brave enough to tell our 4 grown up children yet, not sure we will, maybe one day once they have all left home xxxx

Summer12

Thank you!

I’m going to send four CCA requests tomorrow (all accounts from 1997). However I haven’t started dmp yet, will this mean that while they are looking for paperwork and I’m waiting for a response I should refrain from my paying my usual monthly repayments? Or wait to hear back that the account is “on hold” while they are getting paperwork together. Or is it only when you are in a dmp that they put things on hold. Wondering now if I’m doing things in the wrong order!

sourcrates

Summer12 wrote: »

Thank you!

I’m going to send four CCA requests tomorrow (all accounts from 1997). However I haven’t started dmp yet, will this mean that while they are looking for paperwork and I’m waiting for a response I should refrain from my paying my usual monthly repayments? Or wait to hear back that the account is “on hold” while they are getting paperwork together. Or is it only when you are in a dmp that they put things on hold. Wondering now if I’m doing things in the wrong order!

You can make a request for information at any time, as long as a balance remains on the account, you will be treated in the same manner whatever the situation is.

The consumer credit act allows for you to cease payments whilst waiting for the paperwork, but it’s entirely up to you what you do.

debt_free_wanna_be_2

Hello

Can I pick your brains for advice?

I have about 7 creditors. One of my creditors has recently moved the debt to 1st credit this month. Stepchange are now paying 1st credit directly instead of previous creditor. It'll take 5 years to pay it off at the current rate. I was thinking about writing to ask for F&F for my daughter to pay, with a settlement offer of something like 10% of the amount with the aim of thinking 15-20% of the value.

Has anyone done this whilst in a DMP and to advise negotiating tactics?

I was reading elsewhere about 1st credit and planned to send them a letter with F&F from NationalDebthelpline with the following conditions for them to confirm in writing.

(1) We accept that your offer will be a Full and Final settlement.
(2) We can confirm that the remaining balance will NOT be sold onto another Agency for collection.
(3) We can confirm that upon receipt of your payment of xxx that your account will be closed forthwith and that our records will be updated accordingly.
(4) We will ensure that your Credit File is updated accordingly and clearly marked as 'satisfied'.
(5) We can confirm that upon receipt of your payment of xxx we will issue you will a written receipt and you will hear nothing more from our company or anyone else who may have been connected with your account.

Thanks in advance

January2015

KatieAnne wrote: »

Thank you Ploppy...
It's amazing how relaxed I feel since DMP has started, I realise how stressed I was.....always checking bank account and stressing if my sons were late paying house keeping...incase the mortage wasnt paid..... now we have everything organised and have moved dates of Direct Debits to come out at the same time each month.... Before we had no money to spend because we were paying for everything on credit cards and any money left was paying the credit cards.....a vicious circle.... We are still discipling ourselves and learning to live without credit cards......so give it a couple of months and we will definately go self managed. ( We have only paid 2 payments to SC so far).... I quite enjoy looking at our finances and putting money aside for Birthdays etc each month . Myself and hubby are so much closer too, before my husband knew we had problems but we did not talk about it, My hubby always said he never bought anything, which was true.... but now we are a team......not brave enough to tell our 4 grown up children yet, not sure we will, maybe one day once they have all left home xxxx

The great thing about a DMP is that if your priority costs increase, e.g. the mortgage interest rate goes up, then your non priority DMP payments go down. You no longer have to worry how you will find the extra money for the mortgage or increased utility bills etc.

Seriously -send off those CCA requests now and don't worry about what creditors will think. They won't bat an eyelid. They get hundreds of such requests everyday. Everyday you delay is a day wasted.

Also visit the resolver site and check for PPI - even if you think you didn't have any, check anyway. The worst that will happen is you get whole load of no you didn't have it replies, but you may get lucky and get one or more where you did have it and could potentially reclaim money.