DMP Mutual Support Thread - Part 12

Helpme34

Hi all

I have a quick question please.

I requested CCA'S for my credit cards. I have 2 replies from PRA enclosing reconstituted copies of the agreements from Barclaycard with a covering letter from PRA stating that they are enclosing the said documents and are awaiting further documents. They've said they are currently deeming the debt as unenforceable..so where do i stand with this? I currently am with Payplan.

I received a third letter from PRA for my hubby's card which says they are enclosing copy documents as requested (again reconstituted copies). However on this letter it says to call their office within 10 days to discuss the acct further and help to come to a mutually accepted agreement in order to settle the outstanding balance. Doesnt mention anything about unenforceable?

Any help greatly appreciated

Rebeccadougherty

Hi all
I!!!8217;m doing much better than this time last year. I!!!8217;ve made some mistakes still with over spending, and despite having a few reduced payments I still haven!!!8217;t got a lot saved. But I!!!8217;m trying and will do better.

The thing I wanted to ask is about my biggest debt which is with everyday loans. When I got it I was in a very bad state of mind and they should have not really let me have it. It!!!8217;s still my fault I know, I didn!!!8217;t be sensible and agreed to a loan with a massive interest rate. The loan was about 5,000 but in total with the interest it!!!8217;s just under 11,00 now. Now, I know. I!!!8217;m an idiot. What I want to know is that even though I agreed to this ridiculous interest, can I have the interest taken off so I lost pay back the money I actually had? Perhaps not, but I just wanted to ask.

Thank you I!!!8217in advance

lunalola

Hi all! I hope you are all enjoying the lovely weather wherever you are?

I just wanted to ask for your advice, as I am currently receiving lots of letters and calls from my creditors, to which I am sending one letter per month stating my position and that I will be in touch to update them with my circumstances. After reading through this thread, I am under the impression that it is better to get defaults on all accounts before starting a DMP? So far I only have one default, the rest are still saying late payment so it seems like I will be waiting a while for these to default... 2 of my debts have been passed onto DCA's (Moorcroft and Wescott) which scares me a little!

Am I doing the right thing? Or should I start my DMP sooner rather than later?

Any advise to put my mind at rest would be much appreciated, i can't help but get worried with all of the harrassing!

Thanks x

Suseka97

Helpme34 wrote: »

...... They've said they are currently deeming the debt as unenforceable..so where do i stand with this? I currently am with Payplan.
I received a third letter from PRA for my hubby's card which says they are enclosing copy documents as requested (again reconstituted copies). However on this letter it says to call their office within 10 days to discuss the acct further and help to come to a mutually accepted agreement in order to settle the outstanding balance. Doesnt mention anything about unenforceable? Any help greatly appreciated

With regards to the UEs - the next step is up to you. Plenty of folks just stop paying UEs and focus on those that are enforceable. I'm not currently paying any UEs and have put the money aside to offer F&Fs at some point. You may find that Payplan won't agree to removing them from your DMP though (I've no experience with PP). But if you can just zero their balance or tell PP that you're removing them -if they don't agree you'll have to go self-managed.

With regard to the one they claim is enforceable, you could go on the 'All About Debt' forum and there are folks on there (legal beagles) who can advise whether the documents they've sent prove enforceability.

January2015

Helpme34 wrote: »

Hi all

I have a quick question please.

I requested CCA'S for my credit cards. I have 2 replies from PRA enclosing reconstituted copies of the agreements from Barclaycard with a covering letter from PRA stating that they are enclosing the said documents and are awaiting further documents. They've said they are currently deeming the debt as unenforceable..so where do i stand with this? I currently am with Payplan.

I received a third letter from PRA for my hubby's card which says they are enclosing copy documents as requested (again reconstituted copies). However on this letter it says to call their office within 10 days to discuss the acct further and help to come to a mutually accepted agreement in order to settle the outstanding balance. Doesnt mention anything about unenforceable?

Any help greatly appreciated

Never phone a DCA to discuss anything. Tell them you want everything in writing and that you do not give them permission to contact you by phone.

Other than that I echo the advise given to you by Suseka above.

Just be aware that 'currently deemed unenforceable' may just mean they haven't found the documents yet, or the original creditor has not come back to them. Be warned that creditors/DCAs can eventually turn up enforceable documentation. I had two accounts that were 'deemed unenforceable' for almost 20 months. Unfortunately they did eventually provide the correct, enforceable CCA documentation.

January2015

lunalola wrote: »

Hi all! I hope you are all enjoying the lovely weather wherever you are?

I just wanted to ask for your advice, as I am currently receiving lots of letters and calls from my creditors, to which I am sending one letter per month stating my position and that I will be in touch to update them with my circumstances. After reading through this thread, I am under the impression that it is better to get defaults on all accounts before starting a DMP? So far I only have one default, the rest are still saying late payment so it seems like I will be waiting a while for these to default... 2 of my debts have been passed onto DCA's (Moorcroft and Wescott) which scares me a little!

Am I doing the right thing? Or should I start my DMP sooner rather than later?

Any advise to put my mind at rest would be much appreciated, i can't help but get worried with all of the harrassing!

Thanks x

What did you say in your letters to your creditors / DCAs ? You need to let them know you are in financial difficulty, that you have taken advice of either a debt charity or CAB. They will want to see and income and expenditure statement to evidence you difficulties. If you are planning when to start your DMP in the future, eg. which month, tell them this. Let them know when to expect to receive payments from you. Tell them why you are waiting to start payments, e.g. broken boiler / car / whatever, etc.

Tell them you do not given them permission to phone you and all communication must be in writing and that you will respond to all letters.

They won't just accept and stop contact if you don't give them the information they need to understand your situation.

icklemissus

I spoke to Stepchange several months ago, and a came off the phone feeling even worse than before. Basically said I would have to sell the house as the debt is £45k of mixed debt of both mine and husbands. so we dont qualify for an IVA

But reading through this thread, I feel like their might be a Light at the end of the tunnel so to speak!


I am I right in thinking I can arrange a self-managed DMP myself, for both mine and my husbands' debt?

We have a mortgage, coming up to the end of its fixed rate next summer and at the amount of debt we have we won't get a remortgage anyway so does it matter if I default on all the loans and credit cards? This terrifies me as we have always been on a fixed rate, although switching to SVR will be cheaper, but what if interest rates go sky high?

I know step one is get a basic bank account, get paid into their transfer myself all the actual bills.
I've done the DEDCAB DMP thing, saved it, and the letters.
What letters do I send first?
we have no Emergency fund, so ideally token payment one? or The Holding Letter.
Do I just cancel the Direct Debits?

Additionally, some of our debt 2 small CC and an overdraft are with our bank but also my children's child trust funds, and my daughters' young persons account. Can they touch those? or do I need to move everything first?

Can I just cancel the Direct debits of all the other creditors and deal with the nationwide one, in a week or two once I've sorted out the new bank?

and one last thing, can creditors say no, if new spending is quite recent, as we have had to replace our fridge freezer and washing machine, and they went on my very account?

I'm just so fed up of surviving! Intrest rates on 3 credit cards have all gone from 0%- 19-25% and its unmanageable, cant ask mum and dad to bail us out as they have already helped out previously. So ashamed and depressed by the whole situation!

sourcrates

icklemissus wrote: »

I spoke to Stepchange several months ago, and a came off the phone feeling even worse than before. Basically said I would have to sell the house as the debt is £45k of mixed debt of both mine and husbands. so we dont qualify for an IVA

But reading through this thread, I feel like their might be a Light at the end of the tunnel so to speak!


I am I right in thinking I can arrange a self-managed DMP myself, for both mine and my husbands' debt?

We have a mortgage, coming up to the end of its fixed rate next summer and at the amount of debt we have we won't get a remortgage anyway so does it matter if I default on all the loans and credit cards? This terrifies me as we have always been on a fixed rate, although switching to SVR will be cheaper, but what if interest rates go sky high?

I know step one is get a basic bank account, get paid into their transfer myself all the actual bills.
I've done the DEDCAB DMP thing, saved it, and the letters.
What letters do I send first?
we have no Emergency fund, so ideally token payment one? or The Holding Letter.
Do I just cancel the Direct Debits?

Additionally, some of our debt 2 small CC and an overdraft are with our bank but also my children's child trust funds, and my daughters' young persons account. Can they touch those? or do I need to move everything first?

Can I just cancel the Direct debits of all the other creditors and deal with the nationwide one, in a week or two once I've sorted out the new bank?

and one last thing, can creditors say no, if new spending is quite recent, as we have had to replace our fridge freezer and washing machine, and they went on my very account?

I'm just so fed up of surviving! Intrest rates on 3 credit cards have all gone from 0%- 19-25% and its unmanageable, cant ask mum and dad to bail us out as they have already helped out previously. So ashamed and depressed by the whole situation!

Hi,


Yes, anyone can set up a debt management plan, it is so simple to do, and as you are a homeowner, its normally the best option that allows you to keep your house.


First off, you must draw a line in the sand, so to speak, your way of financial thinking has to change from now on, you have made a good start with the bank accounts, your kids accounts should be OK, as they are not in your name.


From now on, you must retake control of your finances, your next step is to write to all your creditors, explaining your financial situation, and telling them, (note telling, not asking for), that you are taking at least a four month break from your payments, this is in order for you to take advice from a debt charity on your best way forward, and to ascertain your position.


What you will actually be doing is saving an emergency fund, and preparing a workable budget so that you have enough to live on, but also enough to service your debts on a pro-rata basis.


You should include in your letter a request for them to stop all interest and charges immediately, (more on that later) and tell them to contact you in writing only from now on, under new data protection rules they must comply.



When you choose to start your DMP is up to you, and it also depends on how cooperative your creditors are, you should approach this so as to get defaulted as soon as possible, if that involves making £1 payments for 8 months or a year, so be it.


I could go on for ever about this but don't want to overload you on information, for now you have the basics, any further help or questions, feel free to ask away.

alianza

Hi all, after a long delay of nearly a year and a half Cabot have kicked off again over my 17k debt. They were sent a CCA request january17 and recently sent a bundle of papers which unfortunately for me have been deemed to be in order. Am currently just ignoring texts, phone calls and letters while i think about next moves. Have managed to save a bit due to not paying them anything in the last 18 months. Does anyone have experience wih cabot and how hardball they get and what tactics they use and do they accept low settlement offers? thx, alianza

Suseka97

alianza wrote: »

Hi all, after a long delay of nearly a year and a half Cabot have kicked off again over my 17k debt. They were sent a CCA request january17 and recently sent a bundle of papers which unfortunately for me have been deemed to be in order. Am currently just ignoring texts, phone calls and letters while i think about next moves. Have managed to save a bit due to not paying them anything in the last 18 months. Does anyone have experience wih cabot and how hardball they get and what tactics they use and do they accept low settlement offers? thx, alianza

When you say 'deemed to be in order' - is that because they say so, or have you taken advice over that?

If actually enforceable then you may as well write to them and do one of two things - either offer some sort of F&F and see where that gets you, or set up a repayment plan at a rate you can afford and are happy with. Repayment plans are all about affordability these days- so if going down that route send them an I & E that demonstrates the £x amount is all you can afford.