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DMP Mutual Support Thread - Part 12

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  • Twins
    Twins Posts: 346 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Well done on getting a F&F accepted :beer:
    Technically if they mark the credit file as partially satisfied that means the account is recorded as closed and shouldn't be able to be sold on. Some people would be happy with that. However, I would write back and ask for confirmation this means the account will be closed and the remaining balance cannot be sold on to any third party. I just like to dot the i's and cross the t's to make sure there are no nasty surprises for me in the future.

    Thank you! I agree, I would also like to get this confirmed just to be sure. But in the letter they ask to pay by calling them... they don't give an option to do it by bank or post :(
  • January2015
    January2015 Posts: 2,369 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    Twins wrote: »
    Thank you! I agree, I would also like to get this confirmed just to be sure. But in the letter they ask to pay by calling them... they don't give an option to do it by bank or post :(

    When you write back asking for confirmation, then in the same letter advise that you will make payment by bank transfer and request details of how to make this payment, i.e. bank sort code / account number / reference number.:D
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • January2015
    January2015 Posts: 2,369 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    Twins wrote: »
    Thanks heavenlyharry. To be honest it was the smallest debt of the lot but I hit it first as I thought seeing one fall off would be a great motivator. The balance was £437 and they agreed to settle for £ £260. Like I said not a big amount but every penny counts at this stage :)

    That's approximately 59% of the outstanding balance. That's not too bad for a settlement:beer:
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • Hope that signature is up to date January2015 - you've done great so far in reducing your debt!
    Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS
  • January2015
    January2015 Posts: 2,369 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    Hope that signature is up to date January2015 - you've done great so far in reducing your debt!

    Thank you :beer:
    I am hoping it will soon take another massive tumble. We have some more F&Fs in the pipeline :T
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • Suseka97
    Suseka97 Posts: 1,571 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Hi me again I've just checked my credit file boohoo. I've been on a Dmp with stepchange (now in process of self managed) since 2013. All have defaulted around this time apart from Idem previously egg. I emailed them re this and they called me today stating this is correct as in arrangement to pay. Any ideas please tia x

    I'm sure someone who knows more about this will be along to reply soon - but my understanding of this was that if you failed to make your contractual payments (for CCs that would be the minimum payment) then they were legally bound to default the account between 3 - 6 months after that point. The only one of my creditors not to do this was Halifax (personal loan) who put APs on for over a year and I've sent a letter complaining about this. My Halifax debt was 'settled' in 2016.
  • January2015
    January2015 Posts: 2,369 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    Hi me again I've just checked my credit file boohoo. I've been on a Dmp with stepchange (now in process of self managed) since 2013. All have defaulted around this time apart from Idem previously egg. I emailed them re this and they called me today stating this is correct as in arrangement to pay. Any ideas please tia x

    Hi Weakmoments :wave:

    I've copied below a post I put on another thread recently about chasing creditors for defaults. The post was asking if creditors would mark accounts as defaulted on request - and as the first sentence of my response says.....not necessarily :(

    I've also copied Puzzcat's very wise response to my post below as well, especially as she has had personal experience of her requests being rejected. However, I think it's definitely worth trying to chase down those default markers - the worst that can happen is they refuse and you are no worse off than you are now. In our case, we were successful and got those much wanted default markers added and backdated to the beginning of our DMP journey.

    I didn't put it in the other post, but I meant to add that you should ask in the complaint letter for the default to be added AND backdated to a period within 3 months of the date they were notified of your entering a DMP :beer:
    Not necessarily - but you can request it. You should write and mark your letter COMPLAINT. Quote the Information Commisioner's Officer Principles for the reporting of arrears, arrangements and defaults at credit reference agencies

    Principle 4 of the ICO's document states:
    If you fall into arrears on your account, or you do not keep to the revised terms of an arrangement, a default may be recorded to show that the relationship has broken down.
    As a general guide, this may occur when you are 3 months in arrears, and normally by the time you are 6 months in arrears.
    You can write and argue that their being advised you were entering a DMP meant you fell into arrears on the contractually required payments and as such the relationship had broken down. I would also argue that their incorrect reporting of your account, by not recording a default in a timely manner, is unfairly disadvantaging you for an unnecessarily extended period of time.
    Puzzcat wrote: »
    Unfortunately they do not all play ball and even after official investigation one of my creditors is still not defaulted despite being sold on, but I was told they had done nothing wrong. So yes you can ask, complain, take it further but don't always get the answer you want.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • vaper
    vaper Posts: 105 Forumite
    I've just sent the form off to Stepchange.
    Apparently it's going to take 9 years and one month to pay back!

    Oh well, it is what it is.
    We have new bank accounts set up, no cards yet even though I've had an email saying it's ready to use. I think I'll spend the rest of today changing all the direct debits over to the new account, and look into closing down the current account we already have, hubby has given a letter to his employers for the wages to go into the new one so that should start next week and I can do mine online today. I have to go into the Co-op bank today to empty the account and put it into the new account too.
    Then for the frightening part - to cancel future direct debits to our credit card providers, I'm dreading doing it cos that's the first they will be aware of any problems.
    Then I will be joining you all on the journey.
    Don't mind admitting I am totally bricking it!!!!!!!!!!
    Don't put menthol vape juice in your eyes!!!
  • Hello
    After some advice regarding NCO Resolve (Very).
    They are managing two of our accounts, still adding interest on items which were BNPL.
    I now know we should have paid these off before entering into a DMP, but it's a little late now!!

    Has anyone successfully got a default with Very? I've written to NCO today asking for a default, but I'm not holding out much hope. We are only paying £1 a month and it's been well over 6 months which we've paid nothing or just £1.
  • [/QUOTE]I've just sent the form off to Stepchange.
    Apparently it's going to take 9 years and one month to pay back!

    Oh well, it is what it is.
    We have new bank accounts set up, no cards yet even though I've had an email saying it's ready to use. I think I'll spend the rest of today changing all the direct debits over to the new account, and look into closing down the current account we already have, hubby has given a letter to his employers for the wages to go into the new one so that should start next week and I can do mine online today. I have to go into the Co-op bank today to empty the account and put it into the new account too.
    Then for the frightening part - to cancel future direct debits to our credit card providers, I'm dreading doing it cos that's the first they will be aware of any problems.
    Then I will be joining you all on the journey.
    Don't mind admitting I am totally bricking it!!!!!!!!!![/QUOTE]

    Don't be bricking it!
    It will be the best thing you have ever done!
    9 years may seem a long time, but work out how many years it would have taken without being on a DMP, a lot lot longer I'm sure with all the added interest!
    Good luck
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