DMP Mutual Support Thread - Part 12

unicorndeva

Does anyone know if Experian is reliable with dates? We've lost a lot of paperwork so I went on Experian to see if they hold 'start' dates for debts. They don't hold actual dates but do say how many years you've held the account for. Some of mine seem older by their standards but I may be wrong!

sourcrates

SilliSaug wrote: »

The debt is in my name along with the dmp but we do have a joint mortgage and a joint current account which is rarely used. We have our own separate accounts which our pays goes into. Mine is a basic account which I opened before the dmp was set up.

Only if you have joint debts included in the DMP will it affect him.

If you don't have joint debts, it won't affect his credit file at all.

Julie67

Afternoon all,

First letter back from PRA , as other have said they have returned the £1 cheque as a gesture of goodwill, so just a waiting game to see if they can come up with the CCA

DMP_Newbie_91

January2015 wrote: »

Sourcrate has given you the perfect answer already, but just to clarify - don't pay more than you need to each month to your DMP, save all extra money you are able to, use the extra money either for an emergency fund (you will need one), or use it to offer full and final settlements directly to creditors as and when you can (don't go through stepchange for these offers because they will want to 'share' fairly amongst your creditors whereas by going directly to creditors you can pick them off one by one as you can afford it.

Thanks so much!!

I already save each month for an 'Emergancy Fund' just in case my car breaks down etc etc.

So am I right in thinking that I'm best picking off the creditors one by one as and when I can? And this won't affect my DMP in a negative way? So if my overdraft with Halifax is £2500, once I've saved that amount I should ring Halifax and pay it off with them directly? And so on and so on. I've heard you should pay creditors fair amounts otherwise they could come asking you for more money if they can see your overpaying another creditor?!

Thanks again!

sourcrates

DMP_Newbie_91 wrote: »

I've heard you should pay creditors fair amounts otherwise they could come asking you for more money if they can see your overpaying another creditor?!

Thanks again!

The aim would be to settle each debt for as little as possible.

When you make a settlement offer to a creditor, you do so in writing, and in return you will receive written conformation if they accept it.

You then get them to agree that the amount you will pay will settle your account with them, and that you will not be chased by them or their agents, for the remaining balance.

This part is essential to avoid future problems, as without it, they can sell on the balance of the debt, and the new owner can chase you for it.

To be legally binding the agreement letter MUST contain the above sentence.

Your creditors will not be aware of, or interested in, any other deals you do with other creditors.

Twins

Little update from me. I heard back from PRA Group today regarding the complaint I raised with them for not adding a default to my account. They agreed that I was correct and that they would backdate the defaults to 1st August 2011 for both account I hold with them :j

I'm so happy about this as this means that after August this year those debts will drop off my file. Also, a bonus as both of these accounts are unenforceable and one of them is the biggest debt I owe at £3,415

Now I've just got to tackle Hoist and Arrow Global in the same manner. Hoist added a very late default date in Oct 2016 and Arrow haven't added one at all!

Also, I heard back from Link regarding copy of my CCA which they sent. Now its back from 2008 but it isn't signed. The form has a box which is the electronic tick in it (I don't remember if I signed or ticked electronically) and there is text to say: I confirm that the tick in this box is a valid means of establishing the authenticity and integrity of my signature of this credit agreement. I understand MBNA will hold this acceptance data on their files.

I guess that means that all is above board then? Is there anything else I need to check?

Thanks

make_the_change

Is it only debts that are sold on that you will be able to make F&Fs to? Or can you make them to the managing company / original creditor?

Weakmoments

Hi guys I've received my credit agreement from Halifax and they have said it's enforceable. Is there any way I can check this
They have enclosed reconstructed version of original executed agreement. Reconstructed version of current terms and conditions. And statement of current balance.
They've also said they will not enter any further correspondence with me regarding requirements relating to the provision of copy agreement. Thanks x

January2015

make_the_change wrote: »

Is it only debts that are sold on that you will be able to make F&Fs to? Or can you make them to the managing company / original creditor?

You can make a F&F offer anytime to either original creditor or the managing company - or if sold on to the owning DCA.

If you make it through the managing DCA they are obliged to pass the offer back to the original creditor.

It really doesn't matter what the status/ownership of a debt is - you can always make a F&F offer. From reading others experiences on here you are more likely to be able to bargain for a lower settlement once the debt has been sold. However, I've settled with original creditor - liasing through managing company - for 35% of outstanding debts.

sourcrates

Twins wrote: »

Little update from me. I heard back from PRA Group today regarding the complaint I raised with them for not adding a default to my account. They agreed that I was correct and that they would backdate the defaults to 1st August 2011 for both account I hold with them :j

I'm so happy about this as this means that after August this year those debts will drop off my file. Also, a bonus as both of these accounts are unenforceable and one of them is the biggest debt I owe at £3,415

Now I've just got to tackle Hoist and Arrow Global in the same manner. Hoist added a very late default date in Oct 2016 and Arrow haven't added one at all!

Also, I heard back from Link regarding copy of my CCA which they sent. Now its back from 2008 but it isn't signed. The form has a box which is the electronic tick in it (I don't remember if I signed or ticked electronically) and there is text to say: I confirm that the tick in this box is a valid means of establishing the authenticity and integrity of my signature of this credit agreement. I understand MBNA will hold this acceptance data on their files.

I guess that means that all is above board then? Is there anything else I need to check?

Thanks

There is no requirement within the consumer credit act for a copy Ageement requested under sec 77/79 to have a signiture on it.