DMP mutual support thread part 13 !!

debarob

Thank you for the advice. I will
Contact the company.

What is statute barred. As I’m not sure of this and haven’t heard the term before

Willing2Learn

debarob wrote: »

What is statute barred. As I’m not sure of this and haven’t heard the term before

Check out the DebtCamel article on Statute Barred. It explains pretty much everything you need to know. If you have additional questions, then you can pop back here with them. If the account is statute barred, then you can use that as defence re the CCJ claim.
https://debtcamel.co.uk/statute-barred-debt/


And don't delay with getting in touch of the debt collection agency (DCA). You have a strict timescale with Pre Action Protocol paperwork.

In the questionnaire, if you are certain the account is statute barred, you could tick Box D and state this. But otherwise tick Box C for more information and ask for a full Statement of Account and the written agreement for the debt.

Yikes318

Then write back and say an unexpected bill has just landed - car, boiler, washing machine breakdown - anything you like. You may not have read before about being asked for an I&E, but that's pretty much the norm - they do ask, because they also need to know that any payment arrangement is affordable. It doesn't matter that you've sent something to prove what you can afford - all you are looking to do is stall things a little. Just keep at it - play a bit of letter tennis and a few months will have passed quite easily. The wheels turn very slowly in DMP land.

I just went for the emergency fund in the end and they said as per the FCA it should be 10% of earnings only!

I’ve already sent them my I&E is the issue, I sent it too early as I wasn’t sure when to send it whilst saving my EF. And now they’re asking for one that’s accurate for now to show why I can’t pay for a few months. Apparently they want to help me but can’t without this 🙄 just default it already I don’t want help!!

Suseka97

Yikes318 wrote: »

I just went for the emergency fund in the end and they said as per the FCA it should be 10% of earnings only!
I’ve already sent them my I&E is the issue, I sent it too early as I wasn’t sure when to send it whilst saving my EF. And now they’re asking for one that’s accurate for now to show why I can’t pay for a few months. Apparently they want to help me but can’t without this 🙄 just default it already I don’t want help!!

Okay, well then rejig your I&E and up some of your expenses and add in that 'unexpected' bill which will take you x months to clear. Or, just ignore the letters and simply repeat that your DMP will be starting in x months time. It's a bit of a game - admittedly, but a DMP is an informal arrangement and you are in control of it. You could send them token payments as a gesture of goodwill, and to demonstrate you are keen to resolve the situation. Above all, just hold the line.

Yikes318

Okay, well then rejig your I&E and up some of your expenses and add in that 'unexpected' bill which will take you x months to clear. Or, just ignore the letters and simply repeat that your DMP will be starting in x months time. It's a bit of a game - admittedly, but a DMP is an informal arrangement and you are in control of it. You could send them token payments as a gesture of goodwill, and to demonstrate you are keen to resolve the situation. Above all, just hold the line.

Thank you for your help. I actually refused and said I had given them enough information and they were asking questions I didn’t feel they needed to know. I don’t want to offer a token payment as I want defaults on all my debts and I read here that TP can stop that?

It’s such a polar opposite to another debtor who received my holding email and I&E and advice I wasn’t paying for months and just said “ok, I’ll default your account and speak to you in a few months!!” Like within days! I wish everyone was like this.

Please can someone clarify when I should actually send my I&E when I don’t plan on paying anything until next year? Because I obviously sent it too prematurely in this situation!

After sending my holding letter/email, when do I follow that up? What should I say in that follow up to hold them off longer? And then when should my I&E actually be sent in relation to starting my delayed DMP?

zenshi

My biggest debt was sold in Jan of this year. July I had a letter offering 20% discount, I had no money so ignored it. Yesterday I get another offer, this time of 59% . Sadly I still haven’t enough but I’m hoping in another 3 months they’ll offer again slightly lower. So am putting all my spare money together to hopefully have enough when they do
At least I know they are willing to deal!

sourcrates

Yikes318 wrote: »

After sending my holding letter/email, when do I follow that up? What should I say in that follow up to hold them off longer? And then when should my I&E actually be sent in relation to starting my delayed DMP?

You dont really need to do anything just now, let the collections process go through its motions, calls, letters, etc etc, this can take a couple of months, your accounts may them be passed to internal collections, or an external agency, who will go through the same process, you dont need to engage with anyone just yet, unless one of your creditors tries to get legal, then respond to whatever they send you, but otherwise, wait for the defaults to roll in, then contact the collectors who have the accounts when your ready to start repaying.


Nothing more to it than that really.

Time_To_Change

Hi everyone not posted for a while but plodding along and paid off £3000 from my very large debt over the last 10 months. My barclaycard debt was sold to PRA 6 months ago and I have just had a 6 month review. Would this now be a good time to CCA this debt? It is likely to be enforceable as was taken out in 2009 but I do find it a bit strange that barclaycard sold this 14k debt on after only 3 months into my payment plan. Not sure if this is normal or maybe they knew it was unenforceable so decided to get rid of it quickly? Just wondering what other peoples thoughts are on this. Thanks all.

kyledmu

Hi,

So after a lot of soul searching and years of struggling, I’ve just started up a DMP with StepChange, one of the debts I have is a guarantor loan with Bamboo which I left off the debt list as I didn’t want it to have a negative effect on my friend who is my guarantor. However I’m already struggling to keep up with the DMP payments and payments to Bamboo.
My question is has anyone on a DMP added a Bamboo guarantor loan to their plan? From looking online and my Bamboo documents there’s no mention of what to do if I enter into a DMP so I’m really worried that they’ll demand or take payment from my friend.
Any help or advice would be amazing.

sourcrates

kyledmu wrote: »

Hi,

So after a lot of soul searching and years of struggling, I’ve just started up a DMP with StepChange, one of the debts I have is a guarantor loan with Bamboo which I left off the debt list as I didn’t want it to have a negative effect on my friend who is my guarantor. However I’m already struggling to keep up with the DMP payments and payments to Bamboo.
My question is has anyone on a DMP added a Bamboo guarantor loan to their plan? From looking online and my Bamboo documents there’s no mention of what to do if I enter into a DMP so I’m really worried that they’ll demand or take payment from my friend.
Any help or advice would be amazing.

Unfortunately anything other than full payment will trigger bamboo into action to recover any outstanding monies from your guarantor, you cannot put a guarantor loan into debt management as they always have the option of getting the money from your friend, such are the pitfalls of guarantor loans.

No matter what you do, they can always go to the guarantor for the money, the only way out of it is if you both take an insolvency option, which I suspect your friend will not be too pleased about.

You need to re-jig your budget and reduce the DMP payment so your budget is better prepared going forward.