DMP mutual support thread part 13 !!

Helpme34

Following on my previous post..should i complete the annual review with payplan or just write to tell them that i am going self managed?
And also should i write and tell the creditors whose CCA'S im getting checked out that i will not be making any payments until i know they are enforceable?

Suseka97

Helpme34 wrote: »

......... I wrote to 9 of our creditors last June requesting CCA's. A couple replied and sent some reconstituted agreements. Link didn't reply at all! ( have 4 cards with them). I had a lot going on at the time and therefore just filed away the paperwork and continued making payments.
Should i write to Link again requesting CCA's?

Link are notorious for not responding to these things and why would they bother - seeing as you have continued to make payments. They never acknowledged receipt of my CCAs, but because I stopped payment at the same time I sent off the CCA request - they eventually replied with documents which subsequently turned out to prove the debts as enforceable. But that took over 6 months or so.

My advice therefore is to stop making any further payment to them, and if they write asking why - remind them of your CCA request and that in accordance with sec77/79 collection activity should cease until they provide you with compliant paperwork. There is no need to chase them for it - they've had the request and they know it.

Helpme34 wrote: »

Following on my previous post..should i complete the annual review with payplan or just write to tell them that i am going self managed?
And also should i write and tell the creditors whose CCA'S im getting checked out that i will not be making any payments until i know they are enforceable?

At this point I would go self-managed and get the paperwork you've been sent checked out to see whether it proves those accounts are enforceable. You can go on the All About Debt forum and they will help with that. I'd stop all payments in the meantime and do as you say - let those ones know you are suspending payment while you seek advice on the documents you have received. They know the drill.

Helpme34

Thats a great help Suseka.
I will go ahead and do that.
And a big thank you to all of you on here. Although i dont regularly post on here i always visit the site as you're slways giving invaluable advice to everyone.

Keep it up

neiljmuk

Hi all! I've been defaulted by Argos (what ever their finance company is) for a good couple of years and the debt handled by Moorcroft for much of this time. They suddenly added £400 quid interest onto the £1500 debt out of nowhere. Moorcroft have sent a query to them to find out why.

Anyone else had this. Pretty sure they cannot slap backdated mass amount of interest on a long since defaulted debt?!

Most of my other creditor keep sending me letters refunding me every two minutes for errors and poor handling I'm obivious to lol!

ferret_lady

I've been a lurker for a few weeks and just wanted to thank everyone for posting their experiences. It's given me the confidence to go self-managed for the both of us right from the start. I'm turning 23 and we've had a few impulses followed by a horrid vet bill and illness/decline in my mental health. We owe 25k and an end date of 2027 but there's a full time opportunity on the horizon for me so that could change significantly!

I was having frequent anxiety attacks but after debt counselling and discovering the forum I've maybe had one or two. I have an amusing number of pets and they're all that keep me going, and I thought I'd have to give them up. After discovering the thread my panic eased and I've been able to begin applying for full time positions, so a combination of a DMP and (hopefully) better pay is going to allow me to keep them and I have never been happier.

(If you have young pets, don't ever let yourself believe that they're young and you'll get away with not insuring them for a little bit - one exception to this put me several thousand down and my vets have been nothing but considerate in allowing me to pay the balance slowly).

Azza7

Keep optimistic ferret lady and cuddle your pets.Its only my dog and this site that kept me going.He is an oldboy and vets bills increasing.Keep that end date in mind.......my dmp not started yet will finish in 2025 I will be 76 but debt free.I also suffer from anxiety .This forum helped me realise creditors dont hate you personally they just want to know you are not trying to run away from debt.You are brave to go self managed I think it gives you more control and as the wise people on here say YOU are in control.Think I will get confidence to go self managed some time in the future.Best to you x

Marble030509

Hi guys

Sorry....another question.

Received a letter from Moorcroft Debt Recovery this morning who are now dealing with my NewDay credit cards.

They have said the following....

"Unfortunately, at this stage we are unable to hold your account until September without further information from you, please fill in and return the enclosed income and expenditure form so that we can have a better understanding of your finances"

As you know we are not starting our DMP until September and will contact Stepchange at the beginning of September to get it all set up. My question is do I send the form back to Moorcroft or simply leave it as I have already advised them of my plan?

Thanks guys

Enjoy the bank holiday weekend.

sourcrates

Marble030509 wrote: »

Hi guys

Sorry....another question.

Received a letter from Moorcroft Debt Recovery this morning who are now dealing with my NewDay credit cards.

They have said the following....

"Unfortunately, at this stage we are unable to hold your account until September without further information from you, please fill in and return the enclosed income and expenditure form so that we can have a better understanding of your finances"

As you know we are not starting our DMP until September and will contact Stepchange at the beginning of September to get it all set up. My question is do I send the form back to Moorcroft or simply leave it as I have already advised them of my plan?

Thanks guys

Enjoy the bank holiday weekend.

Moorcroft only manage your debt on behalf of Newday.


Moorcroft do not own your debt, only a debts owner can take legal action, (worst case senario) moorcroft can do nothing but advise their client, so you can just ignore them until your ready to start the DMP.

clarehell

Hi Guys
just wanted a bit of advice please , Myself and my husband have been on my debt management plan for a little over 4 years and have been given the opportunity by my brother in law to offer full and final settlements to clear my remaining £30k debt.long story short my husband suffered with the trauma 5 years ago of watching his identical twin being killed in an horrific accident whilst they were at work and he has suffered with severe flashbacks and depression. he has been off work sick and our debts ( credit cards and car payment and other bills escalated ) He has now gone back to work and is doing better with medication and counselling but this debt is a catalyst in his recovery
i have contacted Step Change today and ask them how I go about full and final settlements , we have never missed a dmp payment and for the last 4 years we have plodded along so i am concerned that our debtors will refuse as they are being paid regularly .Step Change have asked us to make a payment of £14k for them to work with , they have suggested they offer 40 % payments across all our debts.
does this sound achievable?

Suseka97

clarehell wrote: »

....... Myself and my husband have been on my debt management plan for a little over 4 years and have been given the opportunity by my brother in law to offer full and final settlements to clear my remaining £30k debt...........
i have contacted Step Change today and ask them how I go about full and final settlements , we have never missed a dmp payment and for the last 4 years we have plodded along so i am concerned that our debtors will refuse as they are being paid regularly .Step Change have asked us to make a payment of £14k for them to work with , they have suggested they offer 40 % payments across all our debts. does this sound achievable?

To be honest, there's no way of knowing for sure- but there's no harm in trying. A 40% discount is a reasonable one if you can get it but as you say, you've been plodding along nicely for 4 years and so your creditors might not see they have much to gain from an early settlement. Most folks tend to get F&Fs accepted when they stop making payments or have been making significantly reduced ones - that's the usual tactic. That said, with £30k left to pay it suggests your DMP may be set to run for a good few years yet and so it might be attractive to them from that point of view. The only way you'll know for sure is by having a go - but if it were me, I'd take control of the negotiations myself. I can appreciate that in your particular circumstances that may not be your preferred choice. Good luck with it