DMP mutual support thread part 13 !!

Suseka97

Marble030509 wrote: »

.....I have had a very concerning letter this morning from Moorcroft Debt Recovery Limited.
It says an Argos Ltd debt has been moved to their home collections department.
The next paragraph is the most worrying.
It says this may involve our local representative calling at your home address. The purpose of the visit will be to assist you with a repayment plan.
Is there anything I can do about this? Thanks

Write and send them a copy of the letter or letters you have sent to Argos about your situation and plans re the DMP. Say that you will only deal with matters in writing and that they are not to send anyone to your address. Add that you will not discuss your financial situation with any doorstep agents and therefore they will be wasting their time. If someone does knock on your door, just had them a copy of that letter and close the door. They have no right of entry and are little more than messengers, so don't feel intimidated.

debtfreedreams25

Hi!

I set up a DMP a few months ago but am still waiting on a few creditors to respond to me. It looks like I have overestimated myself in what I can afford. I live in Canada and have been here a year now so all of my bills have renewed and increased (rent has gone up $100 etc.) what would you recommend? Can I reach out to my creditors and send them an up to date financial statement?

I also received a letter from RBS stating they were sending my account to Westcott and that I would hear from them but it’s been over a two months now and I still haven’t heard anything and the debt is not showing on my credit report?

motivated

debtfreedreams25 wrote: »

Hi!

I set up a DMP a few months ago but am still waiting on a few creditors to respond to me. It looks like I have overestimated myself in what I can afford. I live in Canada and have been here a year now so all of my bills have renewed and increased (rent has gone up $100 etc.) what would you recommend? Can I reach out to my creditors and send them an up to date financial statement?

I also received a letter from RBS stating they were sending my account to Westcott and that I would hear from them but it’s been over a two months now and I still haven’t heard anything and the debt is not showing on my credit report?

Hi. I have 2 debts with Wescot ( original creditor Halifax). Wescot are managing our debts for Halifax they have not bought them. They took a couple of months to get in touch with us and update credit files but from day one have been brilliant. No hassle or aggravation from them. As long as you keep in contact with them and keep them updated they will be fine.

Also, I too have had 2 letters today from BC saying they have sold us on to PRA. To which we already have 2 debts with them and have also been very easy to work with. These 2 took the longest to be sold on but we persevered with tokens and got there in the end. On to saving more for F&Fs and I know that they will be open to offers as time goes on.

jupitercrash

More questions - sorry!

So today I've made a spreadsheet with all the details of who I owe money to - account numbers, outstanding balances etc. The majority of them I've cancelled the direct debits and printed off letters asking for 6 months breathing space while I seek advice.

My only worry is whether I cancel my Natwest loan now or later - my current account is with them & I'm basically living in my OD. As I've said before, I plan to repay both the loan and the OD through a DMP & I've started the process of shifting all my finances over to another 'clean' account, starting with my salary.

However, as pay day is in a couple of days, this month's pay will still go into my Natwest account, and then from next month it'll go in the new account & I'll shift all my bills etc. over to there too. BUT I've heard murmurings that Natwest could potentially use my current account to 'offset' the loan if they suspect I can't pay.

In my letter to them I've explained that I plan to repay the loan & OD, but if I send it now will they freeze my current account or seize any money? Even with my salary, the account only ever goes up to +£50 & within a day it's back in the negative. I'm just worried about them seizing the account early & not being able to pay bills.

Am I making sense? Sorry, this is all so new to me.

sourcrates

Marble030509 wrote: »

Hi guys

I have had a very concerning letter this morning from Moorcroft Debt Recovery Limited.

It says an Argos Ltd debt has been moved to their home collections department.

The next paragraph is the most worrying.

It says this may involve our local representative calling at your home address. The purpose of the visit will be to assist you with a repayment plan.

Is there anything I can do about this?

Thanks

One of a string of standard template letters debt collectors send out, you can just as easily send them the same letter back, advising them that should such local representative attempt to call at your home address, Denzil and Nigel will be called to assit them off the premesis.

sourcrates

jupitercrash wrote: »

In my letter to them I've explained that I plan to repay the loan & OD, but if I send it now will they freeze my current account or seize any money? Even with my salary, the account only ever goes up to +£50 & within a day it's back in the negative. I'm just worried about them seizing the account early & not being able to pay bills.

Am I making sense? Sorry, this is all so new to me.

Hi,


Banks are not that quick to react, get your house in order before you tell anyone anything, that is standard procedure when starting debt mangement, that means getting your new account set up, your salary swapped over, cancel your DD`s, get everything sorted first, then, send your letters.

Changingtimes

Hi.

Just wanted to update you all and ask for some further advice.
I started my DMP in Jan 19 with circa £22,000 of debt.

From getting refunds from a few complaints to PDL etc and paying just short of £1000 a month I am down to £12,000 so in 12 months I should be debt free ( family support helps me pay the £1000 a month).

Now the problem my car has died. Engine issues which I have had a quote to repair of £750 the car is worth £1500 and gets me from A to B. I need it for commuting to work.

Obviously I cannot take out credit and wouldn't even attempt to try BUT are there any options for me to sort this? I was thinking of speaking to SC and asking their advice on missing payments for 2 months that way I would have £2000 to pick up another little runaround. How would the creditors react to this and of course SC?

Any advice welcome. Thanks all

Willing2Learn

Hi Changingtimes,

Other MSEers who have had a DMP with SC, have reported that during an emergency such as yours, SC have been able to suspend the DMP for a short while. Definitely they were okay with a month freeze. I'm not sure how they would respond to a two month freeze. Phone SC, explaining the situation and ask. Below is what SC say about this on their website:
https://www.stepchange.org/clients/cant-pay-dmp.aspx

Edit: You also asked how your creditors may react. In my experience, they are cool with a temporary freezing of payments or token payments for a couple of month as long as they are kept 'in the loop'. I'm speaking as someone who self-managed my DMP. Just let SC know your exact status and plan, and then they will inform your creditors for you.

Changingtimes

Thank you very much Willing .....I shall speak to SC tomorrow and see what leeway I have or could have for this months payment and possibly next Sept. Will put my DMP back a couple of months but will see what they recommend.

Thank you so much.

stormpassing

Hi all,
Just thought I’d pop in and say hi. Last time I posted we were struggling with our DMP as hubby was made redundant unexpectedly ( this was some time ago now). Anyway after a few years and sleepless nights he opted for a DRO ( now done and discharged) and I continued with my DMP. I am happy to report that during my absence I have reduced my debt by half and have approx 3 years until I’m debt free. I thought about the forum randomly recently and decided to start following and participating again as it was so helpful to me in the beginning.

Anyway enough of my ramblings just wanted to say hi ��