DMP mutual support thread part 13 !!

lola_girl

Hi - another question Tesco have responded to CCA request asking me to provide my full signature. This is a pre 2007 account. Is there any risk to sending this and is it officially required? Thanks

sourcrates

lola_girl wrote: »

Hi - another question Tesco have responded to CCA request asking me to provide my full signature. This is a pre 2007 account. Is there any risk to sending this and is it officially required? Thanks

There is no requirement for a signature on a copy credit agreement.
In the same vein, Tesco do not require a signature from you in order to comply with a CCA request.
They are just being pedantic.

sourcrates

PMarie1981 wrote: »

Hi I have received this email regarding making an offer, does this mean once paid they will not pass on the remaining debt in the future?

Thank you for your offer of £678.00. Whilst we appreciate this offer, it is below what we can accept as a full and final settlement. The settlement we can accept is a payment of £904.61, which means your account will be closed and we will not contact you again about it.

Where appropriate, your credit file will be updated to reflect the payment you make. Please be aware paying a settlement will not reflect as positively on your credit file as a payment in full would.

If you would like to accept this offer, we would appreciate if you could help us ensure the payment is affordable for you, by answering the following questions:

Are your main bills (mortgage, rent, council tax, utilities) up to date?*If not, do you have repayment plans in place?Will making the proposed payment stop you from paying future main bills?Where will the money be coming from to make the proposed payment?Do you have any other debts?If so, do you have repayment plans in place?

This offer is available until 11 September 2019, if you want to accept it, please contact us to set it up. I have put your account on hold for 7 days.

Any settlement offer accepted must be accompanied by a written guarantee that the debt is now settled, and the balance will not be chased by them or their agents.

If you don’t get that from them, they will sell on the balance, and you will have to deal with it all again, exact wording is essential.

lola_girl

Thanks Sourcrates...the ADD site say not to give signature but I guess they won’t comply so I will send it off...

Willing2Learn

Hercules_Rockefeller wrote: »

Hi guys, first time posting. After struggling on for the last few months, I've decided that DMP is probably going to be the way for me. I've a loan with HSBC (my bank) as well as 3 credit card debts..totals around £28k.

Went through StepChange yesterday, my package is on the way. I've applied for another bank account (I think I saw this here before, so HSBC can't automatically take my money for their loan?) Is there anything else I need to do? Quite nervous about it tbh and don't know what to expect!

Hi Hercules_Rockefeller and welcome to the forum

You are referring to the HSBC right to 'set off' your account. For this reason, you are correct in your need to open another current account with a different banking group. We normally recommend Nationwide or Co-Op as they are both fully independent account providers. Do not use the account switching service as you do not want an overdraft to follow you.

We also recommend that everyone delays the start of their StepChange DMP by 3-6 months, as this allows you the breathing space to build a reasonable amount of money in your emergency fund (EF). An EF is vital component of all successfully monthly budget.

Hercules_Rockefeller

Thanks for the response..i've gone with Tesco Bank..seemed like the best option for me. How do I go about delaying the start? Do I contact my debtors saying i'm only going to pay £1 or so a month to begin with? Very new to all this!

sourcrates

lola_girl wrote: »

Thanks Sourcrates...the ADD site say not to give signature but I guess they won’t comply so I will send it off...

Back in the day, some not so ethical debt collection agencies would think nothing of copying and pasting a signature onto a blank credit agreement, to further build there so called case against you.

But as the consumer credit act doesn’t require the copy to be signed, to be valid, then it’s a mute point to be honest.

Willing2Learn

Hercules_Rockefeller wrote: »

Thanks for the response..i've gone with Tesco Bank..seemed like the best option for me. How do I go about delaying the start? Do I contact my debtors saying i'm only going to pay £1 or so a month to begin with?

Just write to your creditors, using a tweaked version of the National Debtline holding letter (linked below). Put in something saying you want the account to be held for xx months and that your DMP will be starting DD/MM/YYYY. If you want to, you can also say that you will pay £1 monthly until the DMP start date. If you keep your creditors in the loop like this, then they will be satisfied.


https://www.nationaldebtline.org/EW/sampleletters/Pages/Hold-action-on-your-account-%28sole-name%29.aspx

Hercules_Rockefeller

Thanks Willing2Learn, massive help there. Appreciate it!

sourcrates

PMarie1981 wrote: »

Anyone dealt with pay pal debt?

Can you clarify exactly what your issue is ?