DMP Mutual Support Thread - Part 12

sourcrates

F19FOX wrote: »

Hi there. This is my first ever post on here and firstly I wanted to thank all the many excellent posts and contributors that have posted information on here. Although I haven't posted before I have been reading lots of posts.

I wonder if someone could please help me out with a couple of queries that I still have and my apologies if someone has already covered this topic off but I haven't come across it as yet.

I have seven defaulted accounts and having read numerous posts over the past few days am tempted to write to all my creditors to ask for CCAs. My queries are:
1. What are the downsides to requesting this information?
2. As I understand it, if I want to apply for credit in the future (I'm talking about once the defaults have come off my credit file - in my case I have another 4 years to wait) and a lender comes back unable to supply a copy of my CCA then I understand the debt might be UE.. HOWEVER surely I still owe the debt and if I were to apply to a lender then I would have to inform them about any outstanding debts I have irrespective of whether they may be UE or not? So in my mind it is worthwhile settling them (albeit for a lower amount) in order to be able to state that I have no outstanding debts .. and I don't see how ignoring the debt will help me? Please can someone clarify if my thinking is correct or am I missing something?

Thank you

Hi,

Any of your accounts that were unenforceable would eventually become statute barred, after 6 years it would not show up on your credit file anyway.

Once off your file, the problem ends.

Billy12345

Morning all :wave:

After A bit of advice. My DMP is ticking along nicely (almost 2 years now). My wife knows all about it so no problems there.

Anyway I am the only one bringing in a wage as she does all the kids stuff, dropping off, picking up and looking after her mother who is disabled. This means she doesn’t work but doesn’t claim any benefits either and we rely solely on my wages.

When I started my DMP most of the debt is in my name so that was all included but her two credit cards weren’t. Long story short she is now having difficulty in paying these (from our joint account) and was looking at her own DMP. We have talked about this but I am wondering whether she will qualify for a DRO.

She has no income, no assets and the house is all in my name so no home ownership either. Do you think we should try and seek a DRO for her debt or go down the DMP route. She has two cards with debt of about £15,000.

Any advice appreciated.

Suseka97

LexieLou wrote: »

Thanks Suseka97....Thats fabulous info and I will definitely spend the weekend sorting out my mess.
On another note, do you have a diary I can read? I'd love to know more about your journey x

Sorry for the delayed response... I made a point of staying off my computer this weekend and got out and about in the sunshine :cool2:

I don't have a diary, no - although looking back I wish I had started one, because I've definitely been on a journey with this. I couldn't have imagined 5 years ago that I'd be where I am today. So, I'm happy to help you on your journey, as many others will too.

This forum is a 'safe haven' for folks like us and the people on it are amazing. I'm glad I happened across it when I did and if I could give anyone considering a DMP just one piece of advice it would be 'don't delay, do it now, you'll not regret it'.

Hope you managed to get things moving along nicely

sourcrates

Billy12345 wrote: »

We have talked about this but I am wondering whether she will qualify for a DRO.

She has no income, no assets and the house is all in my name so no home ownership either. Do you think we should try and seek a DRO for her debt or go down the DMP route. She has two cards with debt of about £15,000.

Any advice appreciated.

Hi,

She will qualify for a DRO if she is :

Not a homeowner,
Debts of less than £20.000 (assuming your in England/Wales)
No assets over £1000
A car not worth more than £1000
Must not have more than £50 surplus income at month end (not including debt repayments).
Not given away or sold any substantial assets within the last 2 years
Not had a DRO in the last 6 years.

If you can tick all those boxes then she will get the Debt Relief Order, they are ideal for someone with debts who is not currently working.

Billy12345

Thanks sourcrates


Does it matter that she is living in a home with a mortgage, even though I'm the mortgagor. She is not on any title deeds etc. Seems odd to have no income and I don't know what stepchange will make of this but I'll see what they say


:beer:

sourcrates

Billy12345 wrote: »

Thanks sourcrates


Does it matter that she is living in a home with a mortgage, even though I'm the mortgagor. She is not on any title deeds etc. Seems odd to have no income and I don't know what stepchange will make of this but I'll see what they say


:beer:

No, as long as she is not named as an owner, her living arrangements are her business alone.

Qualification criteria are more or less yes or no answers, there is no middle ground.

Helpme34

Hi all

Just a quick question. Payplan are asking for bank statements and payslips for the annual review. Do I have to provide these or can i refuse?

sourcrates

Helpme34 wrote: »

Hi all

Just a quick question. Payplan are asking for bank statements and payslips for the annual review. Do I have to provide these or can i refuse?

You can refuse.

Although you may have to look for another DMP provider.

Helpme34

Thank you Sourcrates

Are you also able to point me to the thread where i can find help on self managing the DMP

Regards

sourcrates

Helpme34 wrote: »

Thank you Sourcrates

Are you also able to point me to the thread where i can find help on self managing the DMP

Regards

Lots on here self manage, it’s not difficult, you just pay your creditors yourself, like you used to, but you are acting as the DMP provider instead of another 3rd party.

I’m sure some of them will comment on your post shortly.