DMP mutual support thread part 13 !!

January2015

jools1985 wrote: »

I've been on a DMP with Stepchange since December. All is going well. Barclaycard defaulted me last month and told me Wescot are now collecting the payments. Another payment made via Stepchange, Yesterday I had a letter from Wescot advising the the account has now gone back to Barclaycard and to contact them about it. Does this happen a lot?

I've had accounts move back and forth between original creditor and DCAs several times. Sometimes it goes back to the same DCA and other times to a completely different DCA. I've not had it with BC - they've (annoyingly) kept both our BC accounts in-house since we started out DMP in 2015.

Don't worry about it. I, personally, never bother contacting the creditor - I wait for them to contact me and then set up a payment arrangement.

Glad the DMP is set up and going well for you.

Puzzcat

BeingDebtFreeStartsHere wrote: »

Anyone who had a Natwest debt managed by Wescot who has had this debt now bought by PRA - have you heard anything from PRA regarding your old Natwest account yet? I have still heard nothing. Problem is I have tried to log in to my PRA account to make my monthly DMP payment for my old MBNA account and now the website won't recognise my account/log in details. I have sent a message to them via their site but from experience know they take an age to respond. Might end up having to call them but would rather not..................

BDFSH x

Not heard anything yet, I'm sure they will be in touch.
Puzz

Tasha27

I’ve been advised by one debt management company to set up DMP but advised by Payplan to go for IVA my question is as I own half of the house with my partner and we have 5 years left to pay, I will be 60 at this time and my partner will be 65. So we will have full equity Is it advisable to go for IVA. I am a carer for my teenage son who is disabled so it’s not possible to sell the house when the Iva finishes in 5 years. Advice please

sourcrates

Hitmanandher wrote: »

Thank you Sourcrates. Can I ask, what could they do to chase through the courts. I'm not clear what that might entail.

CCJ, then if granted, and you didn’t pay, bailiffs, attachment to earnings, are just two options for them.

Willing2Learn

Tasha27 wrote: »

I’ve been advised by one debt management company to set up DMP but advised by Payplan to go for IVA my question is as I own half of the house with my partner and we have 5 years left to pay, I will be 60 at this time and my partner will be 65. So we will have full equity Is it advisable to go for IVA. I am a carer for my teenage son who is disabled so it’s not possible to sell the house when the Iva finishes in 5 years. Advice please

There is not enough information to advise. Please start a new thread, posting up your SOA (statement of affairs) so that you can receive advice based on you exact circumstances. Thanks


http://www.stoozing.com/calculator/soa.php

Hitmanandher

Hi we're owe the royal bank of Scotland 50k ish. Been paying peanuts on self administered DMP for 3 years. How much so you think they would accept as a full and final? How much to offer initially? Thanks

Tasha27

Thank you I’m new to this

Suseka97

Hitmanandher wrote: »

Hi we're owe the royal bank of Scotland 50k ish. Been paying peanuts on self administered DMP for 3 years. How much so you think they would accept as a full and final? How much to offer initially? Thanks

There's no magic formula for this (wish there was) - so it generally comes down to how you're prepared to play it. You could go in with a low 20% - 30% offer, but I rather doubt they'd accept. Or go higher - say 50% - 60%. That's sizeable sum (£50k) if its just one debt and if you're on a DMP and they are quite happy for that to bob along you may find they won't consider any sort of offer. 3 years of payments isn't that long in DMP land, but there's nothing to stop you having a go at an F&F to test the water, so to speak.

BeingDebtFreeStartsHere

Puzzcat wrote: »

Not heard anything yet, I'm sure they will be in touch.
Puzz

Thanks Puzz

Decided to bite the bullet and phone them - they were lovely!

Informed me that they had bought the Natwest loan and overdraft accounts and asked if the payment I was previously making was still affordable which I said it was. They offered to start the payments on 28th of each month starting in March meaning I have an additional £64 this month as I cancelled my SO to Wescot. They have removed my numbers from their system and taken my email address for all contact and have given me all log in details to make my monthly payments online. Happy days!!

BDFSH x

Buddy2017

Hi all

I am new to this forum and would like some advice because i find myself in a difficult situation.

I am currently £25000 in debt and have never missed a payment but now realise credit has become out of control, two things led to this point. I have an ASC daughter out of school aged 13 and no school in sight, this has put pressure on household bills and also increased costs in food heating etc, we are considering tribunal but these things cost and we haven't the money to fight it successfully.
The other difficulty I have is a medical issue that is now severe and I now receive PIP, I had risk reducing surgery that led to complications and I struggle with mobility.
I feel deeply ashamed that Im here as i went bankrupt in 2006 after leaving an abusive marriage and vowed never to get in trouble again and everything was ticking over well until last summer when my health deteriorated and my daughter became suicidal in school.
I have made the first step and contacted Stepchange and they gave 3 options DMP, Bankruptcy or IVA. I dont want to do the last two because a I have done it before and b i have a negligence claim against the surgeon who proformed failed surgery that is in play and i would use the money from that to clear my debts but it could take another 18 months.Everything about this situation is making me unwell, I dont sleep properly i have chest pains and i feel like im walking through clay.

I know i need to get things under control and i cant continue as my cc are getting larger not smaller, basically i pay each bill and then up using again because we cant afford to eat. I have done a realistic budget with stepchange and its manageable, they were understanding that food budget is high due to 3 Autistic children and food issues. I have opened a new bank account to remove myself from our joint bank account (married again to a lovely man)

My question is this do I go through stepchange and roll everything into one payment or contact the credit cards thats causing issues and seek an arrangement indiviually with them, or invidually with each of my creditors. My debts are as follows

tesco loan 8895
barclaysloan 3330
ratesetter 2231
mbna 4550
barclaycard 5200
argos 440
tesco 650

im sat here now with no money in current account no food in house and usually i would stick on card and pay off on monday when my CB goes in but i feel it would be wrong to spend on it today as i have already contacted stepchange and it feels wrong.

Could really do with some advice. Thank you for reading