DMP Mutual Support Thread - Part 12

sammyjo1979

Willing2Learn wrote: »

Hi,

You want your creditors to mark the accounts as defaulted, so that the debts drop off after six years, even though you are still paying the debts down. You can ask them to do this. See the thread linked below for guidance:
Punished for DMP

If they mark the debts as AP (Arrangement to Pay), then the debt will stay on there for 12 years, until the account is settled.

Thank you for this and for the link. Would it be down to myself to ask them to be defaulted and use that paragraph you posted to quote to them if needed. It's just SC that they would be dealing with creditors and I wouldn't have any contact with them.

Willing2Learn

sammyjo1979 wrote: »

Thank you for this and for the link. Would it be down to myself to ask them to be defaulted and use that paragraph you posted to quote to them if needed. It's just SC that they would be dealing with creditors and I wouldn't have any contact with them.

I think I would want to do that myself. I would definitely contact SC first, just out of courtesy really, to let them know what I planned to do. Maybe they have a letter template too and maybe they'd let you use it, or maybe they will do it for you!!

sammyjo1979

Willing2Learn wrote: »

I think I would want to do that myself. I would definitely contact SC first, just out of courtesy really, to let them know what I planned to do. Maybe they have a letter template too and maybe they'd let you use it, or maybe they will do it for you!!

Thank you. I shall speak to SC and see what they say. I guess i'll have to quote what is on that link?

Probably a really stupid question, but when something defaults for the first time, is it from then that the 6 years starts to when it'll come of your credit file? Also with as i'm going for the DMP and i'll be paying it off for 12 years, how does it show on my credit report after 6 years as i'll still be paying it off?

Sorry for all the questions.

BeingDebtFreeStartsHere

So, the first letter received from PRA regarding our self managed DMP - no issues Just asking for confirmation of the start date for payments to which I have responded (giving us a month with no payments ) Fingers crossed all other creditors are on board too!!

Waiting for the letter from Nationwide who we told we wouldn't be paying as the account is unenforceable and we are prioritising enforceable debts first!!

Will be waiting for the postman for hopefully more responses from our creditors this week!

Take care,

BDFSH x

Suseka97

sammyjo1979 wrote: »

Thank you for this and for the link. Would it be down to myself to ask them to be defaulted and use that paragraph you posted to quote to them if needed. It's just SC that they would be dealing with creditors and I wouldn't have any contact with them.

You might be lucky in that some of your creditors will default within a few weeks/months - but others won't and you'll find you will have to press for the defaults. SC won't do that for you - no. They'll get the DMP up and running and will send your I&E as well as payment offers to your creditors - that's about as much as they do. I think their initial letters ask for interest and charges to be stopped, but I doubt they ask creditors to default (I may be wrong).

sammyjo1979 wrote: »

Probably a really stupid question, but when something defaults for the first time, is it from then that the 6 years starts to when it'll come of your credit file? Also with as i'm going for the DMP and i'll be paying it off for 12 years, how does it show on my credit report after 6 years as i'll still be paying it off?

The 6 years starts from the date the Default is recorded on your credit file and the account details then fall off your records irrespective of whether you still owe money or not. So why its a good idea to keep hold of all payment details and keep good records (set up a spreadsheet and that sort of thing).

rae2820

Hello everyone...
having read through the threads i think I probably know the answer but as a new one here am seeking a bit of reassurance..:o
I've sent of my DMP pack to Step change this week...along with letters to all creditors stating that I am in financial difficulty etc & entering a DMP with SC support...I called Halifax to explain the situation before the missed payment in addition to this...so far Ive had daily texts from them and they've heaped on interest & late charges etc taking me over the CC limit with no mention or acknowledgment of my correspondance just messages to pay now or else..( I've paid a £5 token this month) . Ive had acknowledgement from Barclaycard who say they will hold action and interest etc until 13th Sept but will default if I do not make contractual payment & acknowledge I'm working with SC ...thats fine & what I was hoping for !
Soooo....is this to be expected from Halifax and should I just ignore ? Or should I contact them asking to hold fire and query them adding interest, even though I know they've every right too ?
Also as 2 of the Credit cards are pre 2007 should I be asking for CCA's at this stage ?
Sorry to be wobbling ...!

Thanks All

Suseka97

rae2820 wrote: »

........ called Halifax to explain the situation before the missed payment in addition to this...so far Ive had daily texts from them and they've heaped on interest & late charges etc taking me over the CC limit with no mention or acknowledgment of my correspondance just messages to pay now or else. Ive had acknowledgement from Barclaycard who say they will hold action and interest etc until 13th Sept but will default if I do not make contractual payment & acknowledge I'm working with SC ...thats fine & what I was hoping for ! Soooo....is this to be expected from Halifax and should I just ignore ? Or should I contact them asking to hold fire and query them adding interest, even though I know they've every right too ? Also as 2 of the Credit cards are pre 2007 should I be asking for CCA's at this stage ? Sorry to be wobbling ...! Thanks All

Wobbling is natural... we've all been there Look, some of your creditors who know the drill will default quickly, others won't, But don't sweat it. Halifax seem to be 'late defaulters' it took me a good 2 years of harassing them to get them to backdate a default. But just keep at it, I think people are more successful at it these days.

You are now in a DMP and so its a long game... just ride it out. Do send the CCA requests out, you've got nothing to loose and depending on the outcomes - it'll give you some bargaining power

rae2820

Suseka97 wrote: »

Wobbling is natural... we've all been there Look, some of your creditors who know the drill will default quickly, others won't, But don't sweat it. Halifax seem to be 'late defaulters' it took me a good 2 years of harassing them to get them to backdate a default. But just keep at it, I think people are more successful at it these days.

You are now in a DMP and so its a long game... just ride it out. Do send the CCA requests out, you've got nothing to loose and depending on the outcomes - it'll give you some bargaining power

Thanks Suseka97 for your wise words....much better now

motivated

Hi rae 2820

I had issues with Halifax in the beginning. Although ours were for 2 loans. After telling them of our situation etc they added interest and charges on. I promptly plucked up the courage to call them and complained that they were in fact making our situation worse.

We were now on a DMP and all our other creditors have frozen interest and charges and phone calls in order for us to be able to repay our debt etc. Halifax were actually increasing our debt and I reminded them that they were treating us unfairly as opposed to our other creditors who were being very supportive etc.

They promptly stopped all interest and charges and refunded it back to our accounts. I also asked them to default us as they has said they would do in the beginning. The very next month the defaults came through

They were actually very nice on the phone as I was firm but respectful
Might be worth a bash, no harm in asking

Good luck
M

rae2820

motivated wrote: »

Hi rae 2820

I had issues with Halifax in the beginning. Although ours were for 2 loans. After telling them of our situation etc they added interest and charges on. I promptly plucked up the courage to call them and complained that they were in fact making our situation worse.

We were now on a DMP and all our other creditors have frozen interest and charges and phone calls in order for us to be able to repay our debt etc. Halifax were actually increasing our debt and I reminded them that they were treating us unfairly as opposed to our other creditors who were being very supportive etc.

They promptly stopped all interest and charges and refunded it back to our accounts. I also asked them to default us as they has said they would do in the beginning. The very next month the defaults came through

They were actually very nice on the phone as I was firm but respectful
Might be worth a bash, no harm in asking

Good luck
M

Thanks M
When I spoke to the young man on the phone he was very pleasant so I didn't quite expect the onslaught afterwards !
I appreciate your encouragemnt so I will give them a call , I can only try !
So grateful to all of you