DMP Mutual Support Thread - Part 12

sourcrates

JohnnoF wrote: »

Thanks so much for this. BusinessDebt Helpline imply that it should be paid into the DMP and split over the creditors.

So paying extra to one creditor would not put my DMP at risk of being cancelled or anything? I was afraid that at some point my bank statements could be requested and if I had paid extra to one of the creditors in the DMP I'd be in trouble.

It is at your discretion, and occasionally you must be firm and do what you want to do, if they ask, you just say you chose to pay X and Y off sooner.


As i said, a DMP is completely unregulated, you are not obliged to do anything you do not want to, if you choose to pay off a particular debt, then do so, and just request it be removed from your arrangement.


Stepchange/national debtline only follow guidelines where debt management plans are concerned, there are no rules set in stone, merely advisory notes.

muppetscotland

A lot has happened to us recently, including a move overseas and the emptying of our home of all moveable goods. The house remains empty and we are paying the mortgage until a solution can be found either in the form of a tenant or buyer (in a rotten housing local housing market).

All our DMP debts have been co-operative and we are chipping away at each one successful (if slowly).

However 1 creditor, overlooked initially, went straight to a solicitor, brought court action and, due to us being overseas and not knowing a thing about it till it was too late, the court found in their favour. Their solicitor is asking for breakdown of finances bank statements etc which I don't want/can't be bothered to supply. I have offered to repay at a reasonable monthly amount which would clear the debt in 1 year. I don't want to send them all our private information as I've never heard of the organisation (unlike the banks etc I owe to on DMP).

My question is this, with no UK moveable assets and with a bill under £1,000 (so can't make us bankrupt) and an already horrendous credit file, is there any point me entering into discussions with them? Surely there's literally nothing more they can do to me?

A few years ago I'd be horrified and upset at court decree. Now after a failed business, liquidation, being on benefits and being made seriously ill as a result of stress, I am beyond shame and just want the easiest solution.

With thanks

sourcrates

muppetscotland wrote: »

A lot has happened to us recently, including a move overseas and the emptying of our home of all moveable goods. The house remains empty and we are paying the mortgage until a solution can be found either in the form of a tenant or buyer (in a rotten housing local housing market).

All our DMP debts have been co-operative and we are chipping away at each one successful (if slowly).

However 1 creditor, overlooked initially, went straight to a solicitor, brought court action and, due to us being overseas and not knowing a thing about it till it was too late, the court found in their favour. Their solicitor is asking for breakdown of finances bank statements etc which I don't want/can't be bothered to supply. I have offered to repay at a reasonable monthly amount which would clear the debt in 1 year. I don't want to send them all our private information as I've never heard of the organisation (unlike the banks etc I owe to on DMP).

My question is this, with no UK moveable assets and with a bill under £1,000 (so can't make us bankrupt) and an already horrendous credit file, is there any point me entering into discussions with them? Surely there's literally nothing more they can do to me?

A few years ago I'd be horrified and upset at court decree. Now after a failed business, liquidation, being on benefits and being made seriously ill as a result of stress, I am beyond shame and just want the easiest solution.

With thanks

Hi,


For a debt under 1k, even with a CCJ, its unlikely they will chase this abroad, they would weigh up the cost of enforcement verses the debts value, if you have no removable assets, no job etc.

However, you do have the house itself, and that means a charging order is quite likely to be obtained, but as the debt is under £1000 an order for sale cannot be brought.

dadoflots

Advice gratefully recited...
Just in the process of setting up my DMP.. My situation is a little bit complicated... So would appreciate some advice.

I live with my partner and our children. I own my house with my ex. I am safe in the house until my yougest is 18.. So I have 8 years.

DMP should have me debt free in 6years.

My questions are:

What happens to my credit score now.. I am currently 460 with noddle.
Will I be in a position to get a mortgage two years after my DMP comes to an end... If I need to move and can't raise the money to buy out my ex.

For the first time in a long time I am thinking about the future and not week by week.

Any advice would be appreciated.

sourcrates

dadoflots wrote: »

Advice gratefully recited...
Just in the process of setting up my DMP.. My situation is a little bit complicated... So would appreciate some advice.

I live with my partner and our children. I own my house with my ex. I am safe in the house until my yougest is 18.. So I have 8 years.

DMP should have me debt free in 6years.

My questions are:

What happens to my credit score now.. I am currently 460 with noddle.
Will I be in a position to get a mortgage two years after my DMP comes to an end... If I need to move and can't raise the money to buy out my ex.

For the first time in a long time I am thinking about the future and not week by week.

Any advice would be appreciated.

Hi,


Firstly ignore your credit score, its basically a made up number that can change with the wind, its credit history that is important.


It will depend on many factors if you can obtain a mortgage, affordability, if you still have defaults on your file, you may have to use a broker, and it may cost you more in interest.


Why only a two year timeframe ?

dadoflots

The two years will be the date from which the DMP ends and my youngest becoming 18 and therefore I will have to sell my house as my ex will want her share of it..

Fedupofdebt

Hi 3 of my creditors have excepted my I&E through nedcab but sunny are refusing it and want me to call. I have said no, email me a copy and I will see where its different. I actually owe tax credits/water and council tax because I have prioritised so wrongly. Surely they must be able to see that in the info I have given them ? I'm not particularly worried but just wondered if anyone had had the same problems ? :rotfl:

LexieLou

B'card have sent me a letter claiming i have not been in contact with them...Stepchange have, yet they are being like this. Anyone else have experience like this?

Thanks

LL xx

kram

LexieLou wrote: »

B'card have sent me a letter claiming i have not been in contact with them...Stepchange have, yet they are being like this. Anyone else have experience like this?

Thanks

LL xx

Just computer generated rubbish which you get lots of at the beginning of your dmp im afraid. :j

sourcrates

LexieLou wrote: »

B'card have sent me a letter claiming i have not been in contact with them...Stepchange have, yet they are being like this. Anyone else have experience like this?

Thanks

LL xx

As kram sayes. Its all computer generated rubbish.

Customers in arrangements are still treated the same as non payers until it filters through the system.

Its an automated process so you can just ignore them.