DMP Mutual Support Thread - Part 12

January2015

motivated wrote: »

Hi all

Just checked Halifax account to see they have refunded another lot of interest that was added last month too.
This has now brought my DFD forward again. Only by 3 months but every little helps.
M

Well done - every bit helps :j

[Deleted User]

sourcrates wrote: »

Hi Carboot,

Obviously you dont tell them your real reasons for lowering your payments, just send a short letter saying that, for example, your hours are been cut at work due to a drop in orders, or something of that nature, it dosent really matter what you tell them to be honest, dont make a long drawn out issue of the reasons why, just stick to the facts.

"Circumstances beyond your control" is another good one, i think January will agree with me on this point.

Then tell them what there going to get paid, and when, and that you will review the situation in 6 months, or whatever.

Thanks so much for your quick response:T. The voice of reason as always:A

[Deleted User]

January2015 wrote: »

Hi CBC

Sourcrates is right - just write and advise them you need to drop token payments for x many months (however long you think you will need). Sourcrates gives some good examples of reasons why income may drop, especially the circumstances beyond your control (this could be anything from major repair bill - think boiler/car etc, to income drop due to illness or something else). Start with 3 to 4 months of token payments. After that, if you need longer, just write and tell them you need a few more months. Creditors won't bat an eyelid, especially if you have been paying your DMP reliably. Most will not challenge you. If any of them do just refer them to a new I&E statement which evidences you can't afford more than token payments at the moment.

Don't overthink this. Just tell them you are dropping to token payments - do not ask them, tell them. No creditors are going to rock your DMP boat over a few months of token payments.

Edit: I do agree with Sourcrates that £1 token payments are a bit pointless when starting DMP journies and saving initial emergency funds, but I also think that keeping creditors onside whilst playing the game once well into the DMP is worth the effort. Once the accounts are all defaulted I personally think it's best to keep paying something. If you suddenly stop paying them anything without good reason they may (or may not) get more troublesome with calls/letters etc. I doubt for a few months it would be worse than that - but for the sake of £1 per creditor I just keep them onside and knowing I am making 'an effort' Again, this is just my opinion. That £1 does reduce my bill, but it costs the creditors/DCAs far more to process it

If you are claiming reduced income then send a revised, temporary I&E. If you are saying it's for an unexpected bill or something like that, then you won't need to send a new I&E.

Thanks as ever, January:A

I knew sourcrates would give me some very useful advice:T but I was also very interested how you went about it yourself as I know you've had recent experience of doing it. I take your point about paying something, however little, at this stage of a DMP. I'll do that. Thanks:T


I don't need to inform them of reduced income (I'm on pensions:() so it will have to be the 'unforeseen circumstances';). I'm just glad I don't have to do a revised I&E, I hate doing them!

[Deleted User]

Sorry to monopolise the thread today:o

I sent off my CCA requests and have received 2 identical replies from Link today referring to my 2 separate accounts which were originally with MBNA.

The letters say:

As you are aware Link Financial Outsourcing Limited purchased your debt from MBNA Limited on 20th June 2014......



This floored me as both MBNA in their notification of the transfer and Link themselves when they informed me of the change had told me that the accounts were being 'managed' by them. No mention of being sold. I know from advice on here that 'sold' debts get lower F&F offers accepted than those still with the original creditors.


These are old accounts from late 1990s so I'm hoping they can't come up with the requested paperwork. More scope to make silly F&F offers:j


Incidentally, as well as saying they have requested a copy of the agreement from MBNA they have also asked them for:

....the most recent terms and conditions your account was operated under......

The blue is my addition. I thought it was the Ts &Cs appertaining at the time of the agreement, not the most recent, that they should be sending. Or have I got the wrong end of the stick here?

sourcrates

They should also provide the T's & C's from the time you signed the agreement, without them, its unenforceable.

January2015

CBC - I would write and advise that you will suspend payments on the MBNA accounts until they provide the CCA documentation. That will help you with your saving plan anyway

I strongly suspect that whatever they provide you with will be unenforceable - being from the 1980's.

Seriously - don't even bother making an excuse to the MBNA ones that you've CCA'd - don't pay anything unless they come back with enforceable documentation. When you get the documentation, if you're not sure then ask

Jan

Edit: if it is unenforceable you have the choice to ignore it (but technically you do still owe it) or make a very low 10% F&F offer - which from experience I know MBNA accept

[Deleted User]

January2015 wrote: »

CBC - I would write and advise that you will suspend payments on the MBNA accounts until they provide the CCA documentation. That will help you with your saving plan anyway

I strongly suspect that whatever they provide you with will be unenforceable - being from the 1980's.

Seriously - don't even bother making an excuse to the MBNA ones that you've CCA'd - don't pay anything unless they come back with enforceable documentation. When you get the documentation, if you're not sure then ask

Jan

Edit: if it is unenforceable you have the choice to ignore it (but technically you do still owe it) or make a very low 10% F&F offer - which from experience I know MBNA accept

Thanks so much for all the really useful advice.:T:T:T

Can I just ask if the MBNA debt you mentioned had been sold to Link please?


EDIT: Have just checked and my current debt balance over the 2 MBNA/Link debts is now around £11,000. I once owed them around £27,000 on those 2 cards:o. So, 10% is only £1100 and I should be able to afford that as soon as I discover if the debts are unenforceable. I don't want to tempt fate but I'm feeling quite giddy at the prospect:rotfl:

January2015

carbootcrazy wrote: »

Thanks so much for all the really useful advice.:T:T:T

Can I just ask if the MBNA debt you mentioned had been sold to Link please?

No - PRAT had my MBNA debt. However, regardless of who has the debt if it's unenforceable - they are not stupid and they will know it. They will also know that you know what you are doing in asking for the CCA. They will bite your hand off at anything you are prepared to bestow on them to settle and close the account :rotfl:

[Deleted User]

January2015 wrote: »

No - PRAT had my MBNA debt. However, regardless of who has the debt if it's unenforceable - they are not stupid and they will know it. They will also know that you know what you are doing in asking for the CCA. They will bite your hand off at anything you are prepared to bestow on them to settle and close the account :rotfl:

Thank you:T

Never before have I been so eager for letters from creditors to land on my doormat.:rotfl:

A couple of my other debts are of a similar vintage so here's hoping......;)

sonicetomeetyou

Hi everyone,
I am looking at setting up a DPP with Step Change. I have been in touch with all of the pay day lenders that I owe money to and all have stopped interest. However I also have debts with Barclaycard, TSB and Very and am not sure about the best way to get in touch with them as I can't find addresses for any of them. I was just wondering if anyone knows the addresses that I should write to them at?

Thanks.