DMP mutual support thread part 13 !!

mary_hinge

motivated wrote: »

Hi Mary (love the username)

I have 2 big debts only being managed not owned by Wescot originally Halifax. We too are self managing and they have been absolutely fine. No issues whatsoever. In fact they have been very supportive when we dropped to token payments too. Can't help with link and Lowell but someone else I'm sure will have some experience of them.

Good luck

Thank you Motivated!

I heard yesterday Wescot and Lowell have accepted my offer of token payments, I can't find an email address for Link so will need to send them a letter tomorrow when the little folk go back to school!

Marble030509

Hi guys

Just a quick one. I'm having terrible problems with a creditor called Safety Net Credit. There are actually my smallest creditor amount wise.

Having told them that I won't be making any payments until September 2019 when my DMP will start with Stepchange they are now asking for proof. I provided them with my client reference number but obviously I do not have any proof stating that it is starting in September due to me saving an emergency fund before contacting SC again in August to get things moving.

Any on advice on what I can do? Or should I just ignore this and leave them to it?

An additional update on our situation. Some creditors have accepted that we wont be paying until September and some are carrying on piling on the interest but I guess this is the norm.

Thanks guys.

sourcrates

Marble030509 wrote: »

Hi guys

Just a quick one. I'm having terrible problems with a creditor called Safety Net Credit. There are actually my smallest creditor amount wise.

Having told them that I won't be making any payments until September 2019 when my DMP will start with Stepchange they are now asking for proof. I provided them with my client reference number but obviously I do not have any proof stating that it is starting in September due to me saving an emergency fund before contacting SC again in August to get things moving.

Any on advice on what I can do? Or should I just ignore this and leave them to it?

An additional update on our situation. Some creditors have accepted that we wont be paying until September and some are carrying on piling on the interest but I guess this is the norm.

Thanks guys.

Ignore and leave them to it, they may pass the account to a debt collector, in which case you tell them the same thing.

CG2017

Hello everyone,

My 1st post on this thread after being advised to self manage our DMP.

We have been on a DMP with SC for around 10 years. We have 4 creditors left and have requested CCAs from all 4 of them - 2 have replied saying they are not enforceable until they can produce the CCA.

How do I go about self managing a DMP - do I write to each creditor explaining the switch from SC to ourselves?

Ideally i want to offer F&F settlements to all of our creditors who can't produce the CCA. Do i stop paying the creditors until they can/if they can produce the CCA then write offering a F&F settlement depending on the response to the CCA request.

All of the creditors have been passed onto other agencies apart from one which is with Coventry Building Society from 2007, defaulted in 2009, a payment plan was set up and paid each month and we have never had a statement or any correspondence from them - i have requested a CCA from them as well, but find it very unusual that we haven't heard anything before? anyone else have any experience in this area?
Thank you

Amerylis

I don't post often (about 5 times in as many years) but I have found this site to be so helpful.

I have just made the big step, after getting back letters to say 2 of my debts are unenforceable (over £16k) to leave step change and go self managed, I started out owing £54,000. it is now down to £18,600. I am being made redundant at the end of the year, and at my age am highly unlikely to get a job that pays as well.

I am thinking of dropping payments down to minimal amounts, on the 3 remaining debts, and then offering full and finals out of my redundancy package.

The plan in my head is great, Step Change have been amazing, and I couldn't have got to this stage without them, but somehow, this next stage feels scary again.

Anyway, that's my yearly pop in a say Hi, and we're still plodding along. Can't believe how quickly 5 years has gone, and anyone struggling to meet minimum payments etc, please don't hesitate, The DMP was the best thing we ever did, and just wish we had done it sooner, rather than wait until we had maxed out all lines of credit, trying to survive.

wander101

I have made my final payment on my dmp after 18 months and have cleared the 11,000£ odd using stepchange.

I just want to say thank you to all on this forum at that time who pointed me in the direction of stepchange. My mental health at that time was in absolute tatters.

I am finally free of the shackles of debt and I will never allow myself to get into that situation again.

I wish you all the best on your own journeys.

Thank you thank you thank you!!

scotgirl1832

Hi all,



First post


Looking for some help please. I have been in a self managed DMP for just over 15 months and I have been making the payments as shown below. I have debts of £25K and I now have £7k and i'm hoping to clear my debts with F&F offers. I'm not sure if some of the creditors will accept though as they have been receiving regular payments. When I send my F&F offers should I also say that if these are not accepted then I will need to move to token payments.


All of the debts are fairly recent so I don't think there is any point in me going down the CCA route. Any advice appreciated!

Westcot Debt £6490.24 - Repayment £ 92.88 - FF offer £ 1835.74
Caboot Debt £7047 - Repayment 0 - FF offer £1993.29
Capital One debt - £ 1408.32 - Repayment £ 20.92 - FF offer £398.35
PRA DEBT - £ 2899.72 - Repayments £ 44.64 - FF offer £820.29
Next Debt - £1960 - Repayment £ 29 - FF offer £554.4
Allied International Debt - £ 3530.15 - Repayment 0 - FF offer £ 998.53
Lowell - Debt £1412.24 - Repayment £ 21.38 - FF offer £399.4

Whatamidoinghere

Hi just a quick question. I've had a letter from Halifax 're default notification when I've looked on noddle etc can't see halifax anywhere all other debts showing but not that one. Any ideas where it may be posted on the cra list.

Suseka97

CG2017 wrote: »

Hello everyone,
My 1st post on this thread after being advised to self manage our DMP. I have been on a DMP with SC for around 10 years. We have 4 creditors left and have requested CCAs from all 4 of them - 2 have replied saying they are not enforceable until they can produce the CCA.

That's a good first step.

CG2017 wrote: »

how do I go about self managing a DMP - do I write to each creditor explaining the switch from SC to ourselves?

Yes, but before you close your DMP with SC you should make a note of all your creditors, balances and account details. Once closed you will no longer have access to this information online.

CG2017 wrote: »

i want to offer F&F settlements to all of our creditors who can't produce the CCA. Do i stop paying the creditors until they can/if they can produce the CCA then write offering a F&F settlement depending on the response to the CCA request.

I'd say its a bit soon for F&Fs at this stage (I may have mentioned this to you in a separate post). You can stop paying the UE ones for now (or forever) and focus on the enforceable ones. You don't have to make any payments to those who have yet to respond to your CCA request, because collection activity should be suspended anyway while they investigate.

CG2017 wrote: »

of the creditors have been passed onto other agencies apart from one which is with Coventry Building Society from 2007, defaulted in 2009, a payment plan was set up and paid each month and we have never had a statement or any correspondence from them - i have requested a CCA from them as well, but find it very unusual that we haven't heard anything before? anyone else have any experience in this area?

I doubt you'll get a UE on this one - but as you are going SM, when you write to them to advise you are going SM, then ask them to send you statements and confirmation of the account balance.

Suseka97

Amerylis wrote: »

.....I have just made the big step, after getting back letters to say 2 of my debts are unenforceable (over £16k) to leave step change and go self managed, I started out owing £54,000. it is now down to £18,600. I am being made redundant at the end of the year, and at my age am highly unlikely to get a job that pays as well.

I am thinking of dropping payments down to minimal amounts, on the 3 remaining debts, and then offering full and finals out of my redundancy package......

Sorry to hear about the redundancy - but it sounds like you have a good plan in mind. Keep hold of those UE letters and I agree its a good idea to drop the others down to tokens, or even just stop paying them altogether. When you write to them to let them know you'll be self-managing (if you haven't already) just tell them what's happening and that you need to consider your options going forward, so will be suspending payments whilst you reassess your financial situation. Don't tell them at this point anything about your anticipated redundancy package or plans for F&Fs. You can then put aside what you were paying to add to the F&F pot and in that time you may find they'll start offering you discounts.