DMP Mutual Support Thread - Part 12

sourcrates

Lynnyr3 wrote: »

I hope you guys can give me some advice please.

My DMP is down to just one creditor but it!!!8217;s for quite a substantial amount of money (15k). I!!!8217;m only paying £20 via stepchange and the debt is no longer showing on my credit report as it!!!8217;s well over 6 years old. I!!!8217;m wanting to finish up with stepchange. Any advice on how best to proceed with the remaining debt?

Thanks in advance!

Hi,

What kind of debt was it originally ?

Would a CCA request be relevant here ?

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx

See if the debt is still enforceable, then decide a strategy based on that answer..

Daisypop

So sent letters out last week Stepchange have cancelled my DMP have not heard anything back from creditors yet so will wait until they come back to me to say they accept token payments and then I will set up standing orders.
Self managed here I come!

[Deleted User]

Daisypop wrote: »

So sent letters out last week Stepchange have cancelled my DMP have not heard anything back from creditors yet so will wait until they come back to me to say they accept token payments and then I will set up standing orders.
Self managed here I come!

Good Luck:beer:. I know that, like all the rest of us now self-managers, that you'll never look back:j

Sortingthings

I'm hoping to set up a self managed DMP. My current account and Morg is with Halifax and I have no debt with them. I will have cc debt with MBna who I understand are part of the same banking group ? Should I open a new current account ? Thank you

sourcrates

Sortingthings wrote: »

I'm hoping to set up a self managed DMP. My current account and Morg is with Halifax and I have no debt with them. I will have cc debt with MBna who I understand are part of the same banking group ? Should I open a new current account ? Thank you

Always bank where you don`t have debt, its just not worth the risk of the bank using there rights of set off.

It is rare they exercise these rights, but you can never be sure.

Best to remove the problem from the equation altogether.

selinek

Hi I have received a letter from 1st credit stating they are considering county court action. They go on to give fees incurred if this was to go ahead and they don't want to pursue this etc. I am right to suspect this is one those threatograms or should I be taking this more serioulsy. Agreement is UE , not paid or responded to any previous letters asking to set up a payment plan. I am looking for F&F. Do I need to do anything?

Sadsecret

Hi everyone, hope this is in the right place, still a bit new to this but need some advice. I have been on my DMP for 4 months, all going nicely, cards have stopped interest. I had a Natwest loan and overdraft. My Loan has already gone to Westcot who have been great and accepted DMP no problem. However, I have just received a letter re Overdraft from Natwest saying that I have failed to comply with the requirements set out in the default notice, therefore they are demanding payment of full figure by close of business Wednesday. They say it "Extremely important" that I contact them or they will have no alternative to do any or all of the following ; Commence Legal Action, Instruct debt collectors who may visit my home, exercise rights in relation to security to offset credit balances.
Please help me, do I contact them? Do I need to advise step change? First panic since this started!

sourcrates

Sadsecret wrote: »

Hi everyone, hope this is in the right place, still a bit new to this but need some advice. I have been on my DMP for 4 months, all going nicely, cards have stopped interest. I had a Natwest loan and overdraft. My Loan has already gone to Westcot who have been great and accepted DMP no problem. However, I have just received a letter re Overdraft from Natwest saying that I have failed to comply with the requirements set out in the default notice, therefore they are demanding payment of full figure by close of business Wednesday. They say it "Extremely important" that I contact them or they will have no alternative to do any or all of the following ; Commence Legal Action, Instruct debt collectors who may visit my home, exercise rights in relation to security to offset credit balances.
Please help me, do I contact them? Do I need to advise step change? First panic since this started!

Hi,

Stop panicking, its a standard letter issued prior to a default, don`t worry about it, its just the legal process the creditor has to go through, and will not take your DMP into account.

Just carry , you don`t need to do anything.

Sadsecret

Thank you so much, that's reassuring, I have read it 10 times with phone in hand wondering whether to call them! I guess I just await the default now

sourcrates

selinek wrote: »

Hi I have received a letter from 1st credit stating they are considering county court action. They go on to give fees incurred if this was to go ahead and they don't want to pursue this etc. I am right to suspect this is one those threatograms or should I be taking this more serioulsy. Agreement is UE , not paid or responded to any previous letters asking to set up a payment plan. I am looking for F&F. Do I need to do anything?

If they issue a claim form you have a defense if its unenforceable.

Have you told them you consider it to be unenforceable, if not you maybe should do so.