DMP Mutual Support Thread - Part 12

ayupmeduck

Also Very (NCO) has me as a DM since December 2017 but changed to AR March 2018 and JD WIlliams has me as AA for December 2017 & January 2018 then OK February 2018 and DM March 2018. I haven't paid either the full amount since December 2017 and they both show as 'up to date' on Noddle.

If they stay as DM, there isn't a chance of me doing a full & final for either is there? Very say they default after a year of not meeting payments but isn't DM basically saying I am?

Should I just refuse to pay either?

F19FOX

Brogden wrote: »

PRA really are a complete enigma!

They could not produce anything when I made a CCA request at the start of 2016. I did speak to them at that time and stopped paying the small monthly payment I was making to them but I seem to have had the same sort of experience as everybody else.........the people you speak to seem to have been 'brainwashed' so they just don't understand the word 'unenforcable.' Is this poor training or are they just 'acting?'

The letters offering partial settlement are not reducing as fast as Jan's. After more than two years of nil payments:-

February2018: 85%
April 2018: 80%

I will settle for a small figure of say 10% if it ever gets that low. My thinking is.....if they don't understand 'unenforcable' will they in four years understand 'statute barred?' If they don't I will have unfinished business and letters and statements coming through the door for the rest of my life!

I DO want to draw a line under this. I am sorry PRA for treating you so badly but 'morally' I owe you nothing. I owed the bank not you. I didn't choose to be dealing with you and you shouldn't have been so inept and stupid as to buy a debt which isn't enforcable! You complete PRATS:rotfl:!!!!

None the less........I do want rid of you when the time is right.

Suseka97 wrote: »

Just a quick update re PRA and UE situation (not wanting to take the focus of what this thread is about, DMPs). I've just received a statement from them regarding my account, the one they've been calling about lately, and low and behold they've sent me an statement and have offered a 10% discount to clear the account. So I guess I'm now on their 'discount countdown'... watch this space... but get a good book because methinks it might take a while

Hi Brogden & Suseka
I really don't understand how PRA decide their F&F settlement figures as I have two debts with them , both defaulted in May 2016 and both for similar balances. One of them they pro-actively wrote to me in Nov 2017 offering a F&F settlement with a 35% discount off the outstanding balance. The other one I have heard nothing.
I didn't take up their F&F settlement offer because I don't have the funds available. I've since found this forum and wrote to all my CC creditors to request copies of the CCAs to see if any are UE. So that offer from PRA was without me knowing if it's UE or not. I've had an acknowledgement back of my CCA request from PRA but nothing else as yet. I have had one reply from Tesco and they have sent me copies of my CCA. I dont know if it's enforceable or not but I think the advice on here seems to be to look on the AAD forum. I would be interested to hear from anyone as to how they ascertained if their CCA is UE or not and what's the process with AAD as it wasnt clear to me when I looked or maybe I'm just being thick
Thanks

Annec1414

Hi All,


I guess I'm after some reassurance please! I've contacted Step Change and have been recommended a DMP - basically £32k in debt on credit cards / loan - interest rates killing me, so just need to take the plunge and fill in the paperwork and return it.


Problem is, I'm so scared. I know this is going to have a huge and negative impact on my credit score. But I'm also really worried about getting chasing letters from the card companies, horrible phone calls and just don't really know what to expect... feels like I'm just stood on the side of a cliff waiting to jump!


Feels like I've ruined everything for my family because of my over spending on general day to day stuff - wish there was another way...


Thanks for reading.
x

torheb

Hi just a bit of advice really we!!!8217;ve just hit the 1 year mark and have completed the sc review - I got a letter from creation asking for i&e 3 bank statements and payslips - do I ignore this as they!!!8217;ll presumably get a letter from sc soon - also mbna don!!!8217;t seem to want to stop interest and charges any one had any luck with them and have any tips!

torheb

Hi Annec1414, we started out StepChange dmp 1 year ago, we got letters but not masses and when checking on here we were reassured they were just the standard letters - we!!!8217;ve had no phone calls - lots of the creditors have been good - a few haven!!!8217;t exactly played ball but it hasn!!!8217;t been that stressful - I!!!8217;d say don!!!8217;t make your budget too tight - we try to save a bit each month, and then if we want to treat ourselves we can - you still need to live. You kind of don!!!8217;t care about your credit score because you know you can!!!8217;t apply for anything - I!!!8217;ve done insurance renewals and energy renewals on monthly plans without an issue so far. It!!!8217;s really not so bad try not to worry it!!!8217;s a positive step because you!!!8217;re getting in control of your situation. Theres so much help on here too - good luck and dont worry

72together

Hi,

I felt exactly how you’re feeling, but starting with SC and my DMP and reading daily on here has made me feel so much better.

I was really worried about the letters and phone calls I had to make to the companies I had debts with but they where all helpful to me.

Now I’m getting letters saying they have stopped
all interest and know I’m starting my payments through SC soon.


I was worried too about my credit score but like many on here I’m not bothered about that anymore as I’m now learning how to use my money without relying on credit/store cards.

Using cash and my debit card only is quite a great feeling knowing I don’t have large bills to try and find each month.

I’m very new to this too but keep reading on here as there’s always help and advice.

Good luck help is always there for you.

Annec1414

So I've been up all night reading as much as I possibly can about DMPs etc... you might have seen my earlier post about 'taking the plunge' and I'm feeling a little more confident now.


So this evening, I cancelled my credit card / loan direct debits (gulp) - I've never missed a payment so this was a big step! Am I right in following the following steps....

• give it a couple of weeks, then contact card / loan companies saying i'm dealing with SC and they will be in touch, but can they freeze interest / not call me! (next lot of payments not due till mid June)
• Use this time to save for my emergency fund - my bank account isn't linked to any debt (first direct) - debt with Tesco / MBNA
• Review my budget and make sure I've got enough to live on
• Send back my stepchange application end of june?

Also - i'm confused about default notices - what does this mean and why are they a good thing?


Learning so much from you all, thank you.
x

Suseka97

Annec1414 wrote: »

So I've been up all night reading as much as I possibly can about DMPs etc... you might have seen my earlier post about 'taking the plunge' and I'm feeling a little more confident now.
So this evening, I cancelled my credit card / loan direct debits (gulp) - I've never missed a payment so this was a big step! Am I right in following the following steps....

• give it a couple of weeks, then contact card / loan companies saying i'm dealing with SC and they will be in touch, but can they freeze interest / not call me! (next lot of payments not due till mid June)
• Use this time to save for my emergency fund - my bank account isn't linked to any debt (first direct) - debt with Tesco / MBNA
• Review my budget and make sure I've got enough to live on
• Send back my stepchange application end of june?

Also - i'm confused about default notices - what does this mean and why are they a good thing?
Learning so much from you all, thank you.x

Okay, that's a good start -but if it were me I'd contact creditors now to let them know the situation. Don't leave it until the next payments are almost due, there's no need. They'll put your account on a 30 day hold anyway. I would tell them that it will take 2 - 3 months to get things up and running and also not start the DMP until you are happy you've saved a reasonable sum of money for your emergency fund. Some new DMPers have left it up to 6 months after stopping payments. Creditors are getting more and more used to that these days.

Some companies (creditors) will send a 'notice of default' letter pretty much straight away, others will take longer. But these are just what they are required to do when you stop making your contractual payments. Those warnings are not actual defaults though and I don't actually recall getting a letter from any of mine to say 'we've now defaulted you' - but it may be different now. I only knew when one had defaulted either by keeping an eye on my credit report or when I got a letter from the creditor informing me they'd passed my account over to a DCA, or to their collections department.

Defaults are good because that generally means all interest and charges will cease from that point onwards and the clock starts ticking in terms of how long those D's will sit on your credit file. Defaults fall off after 6 years whether you still owe money or not - so that's a plus and why we all like to push for a early default.

Suseka97

F19FOX wrote: »

Hi Brogden & Suseka.............So that offer from PRA was without me knowing if it's UE or not. I've had an acknowledgement back of my CCA request from PRA but nothing else as yet. I have had one reply from Tesco and they have sent me copies of my CCA. I dont know if it's enforceable or not but I think the advice on here seems to be to look on the AAD forum. I would be interested to hear from anyone as to how they ascertained if their CCA is UE or not and what's the process with AAD as it wasnt clear to me when I looked or maybe I'm just being thick Thanks

PRA do take a while, for me it took around 7 months or so before they confirmed UE. In terms of whether the paperwork you've received meets the requirements of enforceability, that's a bit more complex and why folks suggest going on the AAD forum for advice. I've not been on for a while but they have a UE thread and perhaps if you put up a post asking what you need to do I'm sure one of the admins will be along to help..

F19FOX

Suseka97 wrote: »

PRA do take a while, for me it took around 7 months or so before they confirmed UE. In terms of whether the paperwork you've received meets the requirements of enforceability, that's a bit more complex and why folks suggest going on the AAD forum for advice. I've not been on for a while but they have a UE thread and perhaps if you put up a post asking what you need to do I'm sure one of the admins will be along to help..

Thanks Suseka

I've just put a post on the AAD forum so hopefully they will be able to tell me.

Fingers crossed it will be the news I want to hear