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Paying off DMP running over 13 years old

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
37 replies 9.2K views
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  • ditty1234ditty1234 Forumite
    1.4K Posts
    1,000 Posts Second Anniversary Name Dropper
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    Just enjoyed reading this thread, hope you get out of your DMP soon and will be able to move forwards.
    LBM Jan 2019 - £25.928/Active debt £9480 63%
    Over paying Loan/overdraft H8BC £81/£1608 5% paid
    EF 2020 - May £800/£6000 13%
    Housing fund 2020-2023 £1300/6000 21%
    June: Apply for 10 jobs1/10 : Get 5 interviews 1/5:
    Get one full time job 0/1
  • Westcot / Lloyds update.

    The Loan they accepted £600 offer I made. Last payment to be made on 1st December.
    They are taking £163 for August (DD to late to cancel to DMP) then 4x £109 DD to westcot.

    Credit Card - Still negotiating on this. Lloyds found calculation error on this too. They have taken balance down by £800 and given £100 compensation so I said take the £100 off the debt I didnt have it before so wont miss it. This one is slightly harder to prove if I have paid back what I borrowed on credit because looking at statements I was taking cash out on the card etc when I was at my lowest point.

    I had CCA come back -well says Credit Agreement/Application form you cannot read any terms the account numbers hand written and has a signature so if they ever decided take me to court I think it could get thrown out and prob why they never did and were happy with regular payments from DMP.

    I had Card Protection on there so they are looking into it. If i so have a case Card protection then the £305 plus could help me clear rest of the balance. Apparently its been logged with the PPI complaint on the loan a few years ago.

    Once Lloyds have updated with Westcot new Credit Card Balance I will be making them a similar offer of £600 over 4 or 5 instalments.

    So as it currently stands My total debt to pay now is £2600ish. In April it was circa £15k (defaulted at around 45k in 2006). I have had written off just over 12k since April.

    Westcot taking over payments and finally light at end of the tunnel. Worse case scenario it could take 12 months to finally clear it all (I'll prob pay extra to credit card when loan paid). But fingers crossed could be at my target end of 2019 all this bad debt cleared!

    I will be cancelling my DMP from September.
  • UPDATE:

    I am now longer on a DMP!!!! End nearly in sight!!!

    Lloyds Credit card they refused my offer of £600. Also Lloyds have put in their final response regarding PPI: They will be in contact in due course.

    Due to me disputing the amount owed and believe that Lloyds have applied interest charges and fees unfairly I have referred this to financial ombudsman. I have informed Westcot of this too. I am not going to stop paying the agreement as I dont want it to impact me negatively. I want to show that I am being reasonable. I have asked them to ring fence the monies I pay and use it towards my offer of £600 should Lloyds change their mind.

    I have argued with them that they accepted an offer on the other account that had a similar balance.
  • Suseka97Suseka97 Forumite
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    UPDATE:
    I am now longer on a DMP!!!! End nearly in sight!!!

    Great.. but I think what you mean is that you are no longer paying a DMC - but you are still in a DMP :) Just clarifying this for others.
    Lloyds Credit card they refused my offer of £600. Also Lloyds have put in their final response regarding PPI: They will be in contact in due course. Due to me disputing the amount owed and believe that Lloyds have applied interest charges and fees unfairly I have referred this to financial ombudsman. I have informed Westcot of this too. I am not going to stop paying the agreement as I dont want it to impact me negatively. I want to show that I am being reasonable. I have asked them to ring fence the monies I pay and use it towards my offer of £600 should Lloyds change their mind. I have argued with them that they accepted an offer on the other account that had a similar balance.

    You've had some really good results since you started your thread - well done. But is this one also UE? I'm not quite sure from your previous posts. If it is then you really need to stop making any payments and that will force the issue. I'm not sure why you think that by doing so it would negatively impact you.
  • Finally some good news!


    Lloyds accepted the £600 offer and payments made Aug, Sep & Oct allowed to be taken off the £600 this is for the credit card. It also works out that last payment I make will be 1st January 2020. The credit agreement they supplied is UE! You can also barely read it! I ended up agreeing to back off with FOS for them to agree this! Prob for the best!



    The loan account ends on 1st December!


    So there you go managed to get written off around 13k (I think). Come new year will be debt free and can move forward!



    My advice to others - dont bury your head in the sand and if you have the patience you can get what you feel is best over time so hang on in there!
  • NeverendingDMPNeverendingDMP Forumite
    735 Posts
    500 Posts Third Anniversary
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    Brilliant roll on the new year. I remember you posting about what to do earlier in the year. You have been very busy. Must be great for it to be finally over and done with. Well done:T
    35,213 - Jan 2018, 15237 remaining.
    Mortgage Jan 2018 =77224, 67500 remaining
    EF = 621
  • ditty1234ditty1234 Forumite
    1.4K Posts
    1,000 Posts Second Anniversary Name Dropper
    ✭✭✭
    My advice to others - dont bury your head in the sand and if you have the patience you can get what you feel is best over time so hang on in there!

    Thanks, and well done to you.
    LBM Jan 2019 - £25.928/Active debt £9480 63%
    Over paying Loan/overdraft H8BC £81/£1608 5% paid
    EF 2020 - May £800/£6000 13%
    Housing fund 2020-2023 £1300/6000 21%
    June: Apply for 10 jobs1/10 : Get 5 interviews 1/5:
    Get one full time job 0/1
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