DMP mutual support thread part 13 !!

sourcrates

LexieLou wrote: »

Hello wise people.

Quick question or two;

For those of you who went self managed, did you have to provide a pay slip (the way SC ask for one) and if you did go Self Managed, have you been able to hammer away at some debts before others? i.e, if I have a few ££ can I throw this at a smaller debt to get rid of it sooner?

Thanks

LL

Hi,


You are best producing a workable budget and sending copies of that to each creditor, you are in command now, you decide what you are comfortable with sending or not, its your choice.

Eugh

Letters sent! Now just to wait... I feel both calm and stressed at the same time. How does that work? :think:

bristol2020

Hi there - so my question is this. Im in a DMP with Stepchange, and have 6 creditors - 1 of which makes up 90% of my total debt. I have done a CCA request and they have replied stating they dont have the paperwork and the debt is unenforceable.
Part of me thinks ignore the debt etc - but id rather just get it over and done and make a partial offer and stop any future hassle from them or other debt collectors.
The debt does not show on my credit file - the letter template I used was from the National Debtline and includes the bit about - if you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed
So will this affect anything - i.e it wont cause a partial settlement to show on my file? The account defaulted years ago.
Many thanks.
.

sourcrates

bristol2020 wrote: »

Hi there - so my question is this. Im in a DMP with Stepchange, and have 6 creditors - 1 of which makes up 90% of my total debt. I have done a CCA request and they have replied stating they dont have the paperwork and the debt is unenforceable.
Part of me thinks ignore the debt etc - but id rather just get it over and done and make a partial offer and stop any future hassle from them or other debt collectors.
The debt does not show on my credit file - the letter template I used was from the National Debtline and includes the bit about - if you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed
So will this affect anything - i.e it wont cause a partial settlement to show on my file? The account defaulted years ago.
Many thanks.
.

Anything but full settlement, is a partial settlement, and will be recorded as such.
If its dropped off your file already, nothing will change, if it hasent, it will do after 6 years have expired since the default date.

smiff_50

Thanks for the response Sourcrates

bristol2020

sourcrates wrote: »

Anything but full settlement, is a partial settlement, and will be recorded as such.
If its dropped off your file already, nothing will change, if it hasent, it will do after 6 years have expired since the default date.

Thanks for that Sourcrates. My thought is to settle the smaller debts in full and end the DMP with Stepchange. Then wait for the larger creditor to get in contact and offer them a full and final settlement at that point - maybe 10-20% . thoughts?

LexieLou

sourcrates wrote: »

Hi,


You are best producing a workable budget and sending copies of that to each creditor, you are in command now, you decide what you are comfortable with sending or not, its your choice.

Thank you Sourcrates...so wise

[Deleted User]

What's the best way to negotiate a full and final settlement?
On DMP with Stepchange owe around 5k. In next few weeks will have access to 3-4k. Is it best to negotiate with creditors ourselves? I heard Stepchange will only allow full and final settlement if all creditors agree is this correct?
Any advice is welcome.

sourcrates

Civic18 wrote: »

What's the best way to negotiate a full and final settlement?
On DMP with Stepchange owe around 5k. In next few weeks will have access to 3-4k. Is it best to negotiate with creditors ourselves? I heard Stepchange will only allow full and final settlement if all creditors agree is this correct?
Any advice is welcome.

Do it yourself it’s not difficult.

Stepchange will want you to pay money straight to them, and then do the deals, I wouldn’t like that myself.

[Deleted User]

Thank you sourcrates! Is there a template letter to send? Am I right in thinking that we shouldn't tell where the money is from and just say it's only available if they agree to the f+f?