DMP mutual support thread part 13 !!

Suseka97

Cem13009879 wrote: »

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Does anyone have experience of reviewing budget before it has been 12 months? My expected debt free date is August 2020 and I so want it to be that, but i feel i can't afford the current payments of nearly a third of my salary even when i've serious cut back on outgoings.
Advice please and thanks.

If you need to review your budget, then do so - its an informal arrangement and so that makes it flexible. Above all a DMP has to be sustainable and whilst I understand your desire to be debt-free as soon as you are able, you also need to set a realistic budget so that the DMP journey is not an arduous one. I often say to people, this is a marathon - not a sprint

Lifeisforliving19

We sent L*NK a CCA request on our 3 accounts in March last year and stopped paying them then. They have now sent us documents that B/C*rd have found but although there are pages and pages, there is nothing with our signatures on. They say it is now enforceable. Surely without a signature this can't be right?
Should I write back to them and say that as there is no signatures on any of the 3 lots of paperwork, we disagree that it is enforceable? If we don't pay anything anymore, will it just become statute barred in 6 years, meaning we are free from all of them? I do worry about if we did do this, that it will catch up with us in a few years and we will still owe it. Is it better to just make them a small F&F offer, after telling them we disagree that it is now enforceable?

DMP_Lurker

Hi

Can anyone suggest how I am to stop PRA Group constantly telephoning me regarding a debt they have recently taken over please?

I have now written two letters to them, both included my income/expenditure details and a request for contact only via letter. I have received no acknowledgement for either letter. As soon as they notified me that they bought my debt, I cancelled my standing order to Wescot and set it up for the same amount and payment date to PRA Group.

The outstanding balance on my credit file has now also jumped up to the figure it was 6 months ago when they supposedly took over this account. I have asked them to rectify this as I did not even know they bought the account 6 months ago and was paying Wescot in the mean time until they notified me a couple of months ago.

Should I send my next letter by recorded delivery? The banks and Wescot that I have been dealing with up until now have been fine and respected my request for letter only correspondence.

TIA

Willing2Learn

Lifeisforliving19 wrote: »

We sent L*NK a CCA request on our 3 accounts in March last year and stopped paying them then. They have now sent us documents that B/C*rd have found but although there are pages and pages, there is nothing with our signatures on. They say it is now enforceable. Surely without a signature this can't be right?
Should I write back to them and say that as there is no signatures on any of the 3 lots of paperwork, we disagree that it is enforceable?

There is no legal requirement for there to be a signature. According to debtcamel a true copy of the agreement must have:

• your name and address when the account was opened;
• the creditor’s name and address when the account was opened;
• the terms and conditions of the account at that time, including the cost of credit (the Annual Percentage Rate), when you have to make payments and your cancellation rights; and
• any other documents that were mentioned in the Terms and Conditions.

Willing2Learn

DMP_Lurker wrote: »

Can anyone suggest how I am to stop PRA Group constantly telephoning me regarding a debt they have recently taken over please?

I have now written two letters to them, both included my income/expenditure details and a request for contact only via letter. I have received no acknowledgement for either letter. As soon as they notified me that they bought my debt, I cancelled my standing order to Wescot and set it up for the same amount and payment date to PRA Group.

The outstanding balance on my credit file has now also jumped up to the figure it was 6 months ago when they supposedly took over this account. I have asked them to rectify this as I did not even know they bought the account 6 months ago and was paying Wescot in the mean time until they notified me a couple of months ago.

Should I send my next letter by recorded delivery? The banks and Wescot that I have been dealing with up until now have been fine and respected my request for letter only correspondence.

If it were me, I would write to PRA, clearly stating that they do not have your consent to contact you via 'phone, that the only authorised and acceptable method of correspondence is by letter. Also state that continued telephone calls would constitute harassment and that a complaint will be made to the FOS if the telephone calls do not stop.

You don't need to spend money on a 'signed for' delivery. Just make sure you get a 'proof of posting' receipt from the Post Office.

Edit: And welcome to the forum

Lifeisforliving19

Willing2Learn wrote: »

There is no legal requirement for there to be a signature. According to debtcamel a true copy of the agreement must have:

• your name and address when the account was opened;
• the creditor’s name and address when the account was opened;
• the terms and conditions of the account at that time, including the cost of credit (the Annual Percentage Rate), when you have to make payments and your cancellation rights; and
• any other documents that were mentioned in the Terms and Conditions.

Thanks for the reply.:) That's a shame then, as it has all those things, so I guess it is enforceable after all....lol. Hey ho, Never mind, we are only paying token payments and hopefully they will realise this will take many years and we can get a deal eventually.

Floppy_Sock

Hi all, Thanks for the previous replies.



After setting up my DMP and making my first payment, some of my creditors have sent me a letter accepting my reduced payment terms and outlined when they expect these reduced payments.


Does this mean that if I keep up with these payments, these accounts wont be defaulted? If they aren't defaulted, I presume this will update my credit file every month showing I've made a reduced payment?


I'm just wondering what's best for my future with regards to my credit file.

Willing2Learn

Hi Floppy_Sock,

Both a default and an arrangement to pay (AP) are toxic indicators as far as your credit file goes. Both of them indicate that you have broken your original agreement. Between the two, a default is preferable as it will be removed from your file earlier than any AP markers. This makes a default the preferred option.


Your creditors should ideally default the accounts once they are 3-6 months in arrears. If they do not do so, then I suggest that you make a written request for them to default the applicable accounts in accordance with ICO guidelines.

SkintDad87

Today I took the plunge, rung all creditors and stated I was entering a DMP! All asked for the SC reference number, but I stated I was SM and needed the address to send all correspondence. All have given me 28 days, with shop direct offering me 6 months payment plan through themselves, I declined this and stated I would contact them via mail, within 28 days. Zopa I haven't let know yet, as their phone lines were too busy, but I've sent an email and will call again Monday

I can't believe how easy and helpful the whole thing was. I know this is just the very start, and more pressure may be applied, but as it stands, I'm going into the weekend feeling happier then I've been in a long while! Thanks to everyone on this thread, the info is amazing

Suseka97

SkintDad87 wrote: »

Today I took the plunge, rung all creditors and stated I was entering a DMP! All asked for the SC reference number, but I stated I was SM and needed the address to send all correspondence................

Good for you and I hope the DMP runs smoothly, going self-managed is that easy, yes
I think it worth mentioning (both for you and others who may be considering going SM), that if you encounter issues with creditors who insist on reference numbers - as they prefer to work with a third party - then you can go on the NEDCAB website and use their resources for helping folks set up a DMP. When you do that it generates a reference and you can refer to them in your communications, that seems to keep creditors happy