DMP mutual support thread part 13 !!

EmergencyNurse

As its a Sunday and they aren't open, does anyone know what a red (R) means next to a StepChange repayment?

sourcrates

ranbyh wrote: »

I have a DMP with StepChange and have received a letter from one of my creditors - Lloyds Bank - advising that there is a refund due on my account of £140 following a review of their internal collections processes in 2014/2015. Their findings were that they did not always take the appropriate course of action. The refund is being applied directly to my account which is now with Cabot Financial.

My question is, should I challenge this? Might there be a larger refund due?

TIA

No, its a gesture of goodwill for not dealing with your situation in the appropriate manner, not something you are entitled too.

lulabelle01

I sent holding letters and had payment offers accepted in November my original letters said I would begin payments in 3-4 months time. None of my cards have defaulted but I am aware I’m going to have to start paying the agreed amounts shortly. Should I be sending more letters to put them off for a few more months until my accounts have defaulted?

kram

lulabelle01 wrote: »

I sent holding letters and had payment offers accepted in November my original letters said I would begin payments in 3-4 months time. None of my cards have defaulted but I am aware I’m going to have to start paying the agreed amounts shortly. Should I be sending more letters to put them off for a few more months until my accounts have defaulted?

No harm in sending more letters to stretch it out a bit, the main thing is to make sure that you have built up a good emergency fund before you commence with your dmp.

Good luck

PennyLane2

Hi everyone

I’ve only just joined the forum today and have spent most of the day reading this thread. Obviously because there’s so much of it I haven’t managed the whole thing so I’m really sorry if my question has been covered already.

And thanks so much to everyone who has posted previously as it’s been so useful and reassuring to read it all.

So my situation is as follows...

I had about 36k worth of debts - credit cards, overdraft and loans. 8 creditors in total.

Last year some time I contacted SC and started a DMP. I’ve been incredibly lucky so far in that I’ve had pretty much zero contact from any creditors, and they all appear to have frozen interest and accepted my reduced payments. I’ve been paying £652 a month and I now owe about £32k.

Anyway, as great as SC have been, id really like to move to a self managed DMP as I want more control and to be able to see my balances more often and also there are a couple of creditors who I only owe a couple of hundred to and id like to try and just pay those ones off and get rid of them.

I would also really like to miss a month inbetween swapping from managed to self managed. I’ve got no ‘buffer’ or emergency fund and that’s what I want to do this. I don’t know how to go about this - I’ll be writing to all my creditors to tell them I’m switching to self managed - and I kind of thought by the time I’ve sorted it all out then maybe a month will have been missed anyway. Or should I just make a token payment for a month?

Any advice appreciated!

NeverendingDMP

Hi Penny Lane. Its perfectly fine to miss a month or more if you wish when swapping to self managed. I wrote and said im going self managed etc etc my next payment will be such a date which was for me about six weeks away. I still made a payment in the next month but only after id done a full pay month without making a payment. No one was fussed. You could leave it a bit longer if you wanted. You could email or write to say im going self managed and will be in touch in such a time and then contact again at the end of the date to say i will start paying such a thing from 1-3 months later.
Only thing i would say is check you have all the details from your stepchange account before finishing with them and have a look at the debt line budget plan or similar to see how your payments will be spread as stepchange work it out completely different to everyone else.

SJW68

sourcrates wrote: »

Hi,


With regard to letters, it makes little difference, best to time it all together, so send straight after you stop making contractural payments.


I think your refering to unenforcable accounts, these are accounts where the creditor has failed in its duty to provide correct paperwork in response to a sec 77/79 (CCA Request).

Thank you verymuch Sourcrates. Much appreciated.

Suseka97

sourcrates wrote: »

Oh that would really push my buttons that would, these !!!!!!s use the letter of the law to trip you up wherever they can, and yet it absolutly amazes me when we suggest using sec 77/79 to your advantage, against these massive conglomorates, all of a sudden its immoral.
You cannot bring a knife to a gun fight, they will have no hesitation in screwing you, you gotta screw them first.

Thanks Sourcrates it did rather peeve me and why I am now holding the line and refuse to pay the current full balance that's now left - even though I could do so quite easily. I have absolutely no qualms about that.

I was also quite surprised Barclaycard sent the money to them, because it would have been more than Link paid them for it in the first place, knowing as we do they pay pennies to the pound for these debts. :mad:

ironingpile

BeingDebtFreeStartsHere wrote: »

I have received a very strange letter today regarding my Natwest account which is currently being managed by Wescot.

The letter states:

'Our records show that you have elected to pay the outstanding amount owing to our client by standing order. We can confirm that the account is now closed - fully paid'

This is our biggest debt :eek: and there is no way we could afford to clear it via standing order!!

Just wondering what I should do regarding this? Maybe we have a mystery debt buster!! Any advice greatly appreciated

BDFSH x

Hi - I had exactly the same letter .......... but today have received another confirming it was sent in error! This new letter states that my account has been transferred from Wescot back to NatWest Retail. Only problem is I cancelled my standing order and now don't know who to pay! Think I'm going to wait and see what NWB advise is happening. I'm sure they'll be chasing me for payment soon enough. It was nice while it lasted. X

BeingDebtFreeStartsHere

ironingpile wrote: »

Hi - I had exactly the same letter .......... but today have received another confirming it was sent in error! This new letter states that my account has been transferred from Wescot back to NatWest Retail. Only problem is I cancelled my standing order and now don't know who to pay! Think I'm going to wait and see what NWB advise is happening. I'm sure they'll be chasing me for payment soon enough. It was nice while it lasted. X

Hi there!!

I too have received this error letter from Wescot!! I bet they have been getting numerous phone calls from confused clients, all hoping, like I was, that the debt has miraculously disappeared!!

There was a post from Puzzcat in response to mine that said PRA have bought their debt from Wescot. I assume this is the case with mine as PRA have tried to contact me every day by phone for the last 4 days. I am waiting for them to write to inform me that they have taken over the debt before I send them the payment Wescot were having.

I think it is right to still cancel the Wescot standing order (I have done this too) as Wescot have passed the debt back to Natwest for now so you do not want any future payments going to Wescot.

Fingers crossed further correspondence is to follow - until then I will keep my previous Wescot payment in my bank where it is safe!

Take care,

BDFSH x