DMP Mutual Support Thread - Part 12

[Deleted User]

Zerodebtsoon wrote: »

.......Robinson Way and Sainsbury's are still to come back to us. Robinson way have received our email as they have sent a reply with a request for verification as they didn't have the email address on record.

Robinson Way are collecting one of my debts (for Hoist, originally a Tesco CC debt). I think Rob-Way are just Debt Collectors not debt buyers/owners. They have been the easiest and most helpful of all the companies I have to deal with, whether it's by post or phone. I suspect this debt will turn out to be unenforceable though:j and I'll be quite sad in a way when I no longer have to communicate with them;)


Sorry to hear about your damp problems. We have damp in the house we live in, at least you aren't suffering with it in your only residence. Nice to have relatives who can remedy it too:T. Good Luck:beer:

Zerodebtsoon

carbootcrazy wrote: »

Robinson Way are collecting one of my debts (for Hoist, originally a Tesco CC debt). I think Rob-Way are just Debt Collectors not debt buyers/owners. They have been the easiest and most helpful of all the companies I have to deal with, whether it's by post or phone. I suspect this debt will turn out to be unenforceable though:j and I'll be quite sad in a way when I no longer have to communicate with them;)


Sorry to hear about your damp problems. We have damp in the house we live in, at least you aren't suffering with it in your only residence. Nice to have relatives who can remedy it too:T. Good Luck:beer:

Mine with them is an old Tesco Credit Card one too - will be interesting to see if its enforceable as its pretty old (fingers crossed)

Yes it's a pain but we're lucky and grateful we have people who can at least take a look and give us a realistic price, which we could then use to negotiate a reduction on any offer anyway as don't have the means to spend much at the moment. It'll be easier to get someone in when the house is vacant too. I'm sure the horrendous winter you've had hasn't helped, plus the tenant has been tardy with the rent so I am wondering how much she's heated the place tbh, Roll on the better weather for you!

EmergencyNurse

Taken from another DMP thread'Some creditors do not automatically freeze interest - Barclaycard are a prime example. If your payments were over 1% of the outstanding balance they would continue to charge interest. I found that out to my frustration. I had to reduce to token payments to force a default and finally zero interest.'

Advice please....
First payment to SC in May when DMP kicks in, until then I've been advised to make some form of payment to my creditors. From the info given above it seems a token amount would be beneficial, however others have said a token amount is pointless. Suggestions please.

sourcrates

carbootcrazy wrote: »

Robinson Way are collecting one of my debts (for Hoist, originally a Tesco CC debt). I think Rob-Way are just Debt Collectors not debt buyers/owners.

Robinson way was bought by hoist a short while ago.

They act as collectors on behalf of Hoist, but are actually one and the same company.

Hoist are debt buyers but manage them internally now, using Robbers way, rather than farming them out.

Dandytf

EmergencyNurse wrote: »

Taken from another DMP thread'Some creditors do not automatically freeze interest - Barclaycard are a prime example. If your payments were over 1% of the outstanding balance they would continue to charge interest. I found that out to my frustration. I had to reduce to token payments to force a default and finally zero interest.'

Advice please....
First payment to SC in May when DMP kicks in, until then I've been advised to make some form of payment to my creditors. From the info given above it seems a token amount would be beneficial, however others have said a token amount is pointless. Suggestions please.

I continued with minimum payments as long as possible, or at least near minimum payments until SC plan started.
Though other could difffer in any experienced mse'rs

January2015

EmergencyNurse wrote: »

Taken from another DMP thread'Some creditors do not automatically freeze interest - Barclaycard are a prime example. If your payments were over 1% of the outstanding balance they would continue to charge interest. I found that out to my frustration. I had to reduce to token payments to force a default and finally zero interest.'

Advice please....
First payment to SC in May when DMP kicks in, until then I've been advised to make some form of payment to my creditors. From the info given above it seems a token amount would be beneficial, however others have said a token amount is pointless. Suggestions please.

I think the first quote was from me :beer: I did drop to token payments, but with hindsight, I agree they are pointless if you are only trying to force defaults and freeze interest, i.e. zero payments for less than a year.

I am still paying token payments only - however, I am now playing the 'long game' which is different. I am now working towards F&Fs. Token payments evidence I am keeping in contact and making efforts to clear my debts. If I didn't pay, or just ignored, creditors for many, many months (which turn into years) then they probably would seek legal action to recover my debts (eventually). So, for me, the long game is keep in touch, pay as little as possible, save as much as possible, and settle debts with greatly reduced F&Fs.

System

January2015 wrote: »

I think the first quote was from me :beer: I did drop to token payments, but with hindsight, I agree they are pointless if you are only trying to force defaults and freeze interest, i.e. zero payments for less than a year.

I am still paying token payments only - however, I am now playing the 'long game' which is different. I am now working towards F&Fs. Token payments evidence I am keeping in contact and making efforts to clear my debts. If I didn't pay, or just ignored, creditors for many, many months (which turn into years) then they probably would seek legal action to recover my debts (eventually). So, for me, the long game is keep in touch, pay as little as possible, save as much as possible, and settle debts with greatly reduced F&Fs.

Yes we are doing the same now. Although with PR* and L*NK we are currently paying nothing as waiting on CCAs.

January2015

ploppy57 wrote: »

Yes we are doing the same now. Although with PR* and L*NK we are currently paying nothing as waiting on CCAs.

Yes, I have two debts I am paying zero (since July 2016) as they have failed to produce CCA documents. I don' pay or contact them anymore - definitely not chasing CCA requests. If they don't produce anything the debts will eventually become statute barred. Long way off I know, but stranger things have happened :rotfl:

Akelly

What are token payments? I keep seeing people saying this comment and I have no idea what a token payment is.

Thanks

[Deleted User]

Akelly wrote: »

What are token payments? I keep seeing people saying this comment and I have no idea what a token payment is.

Thanks

Basically it's just the minimum possible just to show willing and keep some sort of payment going to your creditors. Most people do token payments of £1 a month to each creditor.


Knowledgeable people such as sourcrates say tokens are pointless as it costs the creditor more in administering them than the money's actually worth to them. Some of us feel better paying something, however little. I'm not aware of creditors refusing the £1 on the basis that it isn't cost effective. Some of us have been paying at that rate for months or even years:j.