DMP mutual support thread part 13 !!

Lmrcpr

“
Hi,
I started my dmp in November. 2 of the credit card company's have agreed to stop interest and will both default this month. I hadn't had any response from a loan and from my overdraft and other credit card.
The bank the overdraft with have wiit tends to me this week saying I have asked for a new account and they have changed the account and put the agreed overdraft to 0. Is this normal? It seams only worded that it says i asked for a new account and dosnt mention the dmp or payment problems. Does that seam normal?
Thanks
Originally posted by Lmrcpr

”Hello.
I'm not entirely sure I understand what you are querying - is it that your current bank which has an overdraft and presumably is where the loan is too, has closed your account and reopened another for you? If so, that does sound a bit odd.
The advice is always to set up a basic bank account with an institution that has no financial connections with any of your debts.

I have no idea what happened to the typing in my original post sorry.

I have opened a bank account with another bank. But the bank I had the overdraft with have written to me saying they have opened a new account for me and that I asked them to. I will write to them to ask why.

Harveyhelp

Advice please

I had a loan with Ferratum (pay day) which was capped at £1300 interest all in (original loan £800)
3 weeks after taking it out after a sudden loss in the family I knew my situation had got worse and entered a DMP with step change.

I was told by Ferratum in sept (by text) that my debt had been transfered to DRS but when I rang them they had no account of it so I called Ferratum and they told me to keep paying as normal which I have done.

Friday I received a letter from DRS (the first ever one) saying Id not made any payments and my debt is in excess of £1400

Ive payed over £250 to Ferratum since starting my DMP. I now have no idea what I owe. Ive never received a statement from Ferratum or DRS and while DRS have agrees to freeze the account for 30 days so it can be transfered to step change they are adamant I owe the full £1400 as that’s what Ferratum has passed them

Any idea where I can go from here please? Lost

Sunny40

Hello all,
Just after some advice please am in the process of starting to deal with our debts;
So have organised a new bank account no overdraft and done the switching service �� all organised for when wages go in,will be leaving an overdraft on old account,new bank no overdraft,
Will the switch be able to take place?
Wages are gonna be swallowed up with overdraft but need them for new account?
Can anyone advise x

sourcrates

Sunny40 wrote: »

Hello all,
Just after some advice please am in the process of starting to deal with our debts;
So have organised a new bank account no overdraft and done the switching service �� all organised for when wages go in,will be leaving an overdraft on old account,new bank no overdraft,
Will the switch be able to take place?
Wages are gonna be swallowed up with overdraft but need them for new account?
Can anyone advise x

Don’t use the switching service, they won’t let you close the old account with an outstanding OD.

clausentum

Hello - just about to start a DMP via the National Debtline and then hopefully Step Change (my husband has a horror of dealing with creditors) - to cut a long story short we have managed about 55K of debt without a single default until I was diagnosed with cancer at the start of January and now will be losing most of my income for most of the year, but frankly we should have gone for a DMP years ago. My husband has a 13K tax bill to pay after filing his return (we're both self-employed), but a very helpful lady at HMRC has said that he should contact her and we will have some time to pay because of our household income drop and he will be allowed to do that in instalments. Given that the Debtline online budget automatically incorporates tax and NI, deducting it monthly, does he need to tell them that these payments will actually be in retrospect, rather than in advance? Does the Debtline/Step Change exchange information with HMRC as far as anyone knows? Many thanks.

Sylvester6

Hello everyone, we did CCA requests on all of our debts about 3 weeks ago. 5 of our creditors have responded and 5 havent. We were hopeful last week as PRA contacted us to say our 2 debts with them were unenforceable pending further paperwork but today we have received copies of the original paperwork for 1 of these debts and I'm guessing the other will follow!! I'm gutted to be honest as it is one of our highest debts. They have asked me to ring them to discuss a repayment plan but is it ok if I send a letter with our I&E? Can't face a phone call at the moment. We have been on token payments since last August and will need to make token payments in Feb and March before we up the payment to them as the car broke down again last month!! The DMP is the best thing we've done but it's hard sometimes!! Also what should we do about the 5 debts we've not heard back from. Link were quite difficult and I'm supposed to be in contact before the 14th Feb with a revised payment but not sure what to do now. Thanks in anticipation of your advice.

[Deleted User]

Sylvester6 wrote: »

Link were quite difficult and I'm supposed to be in contact before the 14th Feb with a revised payment but not sure what to do now.

Link are the worst of my creditors:(. They never respond to letters and then seem to send random letters to me saying they've been trying to contact me (which they haven't:rotfl:) and go on to ask me to phone them to discuss my payments. I think they like to get people on the phone so they can browbeat them. They didn't respond to any of my emails either.


I've negotiated F&Fs with all my creditors this past couple of months but Link, who bought my 2 biggest debts, just won't co-operate at all. They are still insisting on a ridiculously high settlement on the enforceable one so they're going to have to put up with token payments for the foreseeable future;). I've no intention of paying the UE one anyway but I expect they'll make problems with that:eek:


Good luck:beer:

[Deleted User]

I posted this query on the F&F thread this afternoon but there's often a long time between postings on there so I'm copying it here. If anyone has any advice I'd be very grateful for it. Thanks :beer:

**************************************************************
A query for fatbelly or anyone else who might know the answer.


I negotiated a F&F of 31% payable/69% discount which I'm delighted about:j. It's quite a small outstanding balance now but is my next to last outstanding debt so I want to get it paid asap.

When I spoke to them on the phone I asked if they would put in writing (before I was willing to hand the money over) that they would never chase me for the unpaid balance. I can't recall the exact wording but all my other settled creditors sent me a letter promising that.

I received the letter today from this creditor and it doesn't say what I wanted:(. I'd appreciate it if someone can tell me if this is enough please and if I should feel confident in paying them;

The parts in red are the bits that I'm querying.

' We refer to your offer to pay a sum in settlement of your account...……….. We have reduced the amount due on your account to the sum that you have agreed to pay.

Once this reduced amount has been paid, where this is recorded on your credit file, this will be updated as partially settled with a zero balance and not as settled or satisfied'. .

I understand the 'partially settled' bit, that's pretty standard, but do you think this reference to 'zero balance' etc is enough of a guarantee for me that it will all be done and dusted once I pay the £480?. The 'amount due' at the top of the letter shows as £480 and not the £1548 that is really outstanding.


Thanks

Sylvester6

Thanks Carboot, I think I'll have to try and see the lighter side with them and not get frustrated! :rotfl:Even though I put the CCa requests in I've still kept the £1 month payments so I'll keep them at that until they reply!! Fun and games. With PRA, I'm just going to write and keep them at token payments for a further 2 months and then get back to paying them the full amount!

Sylvester6

Ps Carboot, good luck with the F&FS, hopefully we'll be in a position to do that one day ��