DMP mutual support thread part 13 !!

sourcrates

smallie210 wrote: »

Sorry for the late reply, haven't been online. thanks so much for this response. when you say "Self-Management may be the way forward for you", do you mean setting up a diy debt management plan?

Only Barclays have defaulted my account with them, a few of my other loans are in arrears. If i was to not pay my creditors for a month or so, is there more chance that they will default my accounts? I'm a bit worried legal action may be taken for skipping a payment but i may be worrying over nothing

You are yes, the debt collection process can take quite a while, missing a few payments will hopefully get your accounts defaulted, and passed to a debt collector, and that’s about it.

[Deleted User]

sourcrates wrote: »

You are yes, the debt collection process can take quite a while, missing a few payments will hopefully get your accounts defaulted, and passed to a debt collector, and that’s about it.

so when its passed to a debt collector, thats not a scary process as in i won't get people knocking on my door right?i think i am going to leave step change and do my own DMP then if this is the case

sammy_Beebee

Hi I received an email from Next today agreeing to my DMP (They called it a payment plan)however I’m confused by this “ The Plan will be registered with the Credit Reference Agencies, which may affect you getting credit in the future or make it more expensive“. does this mean they will not default my account?

Willing2Learn

[STRIKE]Just in case anybody is tempted by the above post to contact ConsumerMoneyWorries for advice. They are a commercial company and only want your money. They are not free. Only get advice from a truly free service from an agency such as the CAB, StepChange and Payplan.

Hopefully someone will be along soon to delete the spam post above

[/STRIKE]
Edit: Spam post is now deleted

Willing2Learn

sammy_Beebee wrote: »

Hi I received an email from Next today agreeing to my DMP (They called it a payment plan)however I’m confused by this “ The Plan will be registered with the Credit Reference Agencies, which may affect you getting credit in the future or make it more expensive“. does this mean they will not default my account?

From the words that NEXT have used, it sounds like they are considering your DMP to be a Payment Arrangement and that your credit file(s) will be marked with a negative AP marker. An AP marker is bad news as it stays on your file for such a long time. You ideally want NEXT to default the account, dated from when the account was 3-6 months in arrears. A default is also a negative marker, just not as bad as an AP.

If it were me, I would contact NEXT to confirm exactly how your plan will be recorded on your credit file(s).

Willing2Learn

smallie210 wrote: »

so when its passed to a debt collector, thats not a scary process as in i won't get people knocking on my door right?i think i am going to leave step change and do my own DMP then if this is the case

No-one comes knocking on your door. All you have to do with a SM DMP, is to keep your creditors updated with the latest information. So, for example, if you are going to freeze payments for 3 or 6 months, then you should write to your creditors letting them know, and also include a date DD/MM/YYYY when payments will commence. When you write to them, you can also let them know that you only consent to receiving correspondence, in writing, via Royal Mail.


The link below will take you to a site that will guide through the SM process. It is a fantastic resource. It will even auto-generate letters for you, based on the data you have provided.
https://nedcab.cabmoney.org.uk/dmp.asp

sourcrates

Willing2Learn wrote: »

Just in case anybody is tempted by the above post to contact ConsumerMoneyWorries for advice. They are a commercial company and only want your money. They are not free. Only get advice from a truly free service from an agency such as the CAB, StepChange and Payplan.

Hopefully someone will be along soon to delete the spam post above

Spammer W2L and now gone.

[Deleted User]

Willing2Learn wrote: »

No-one comes knocking on your door. All you have to do with a SM DMP, is to keep your creditors updated with the latest information. So, for example, if you are going to freeze payments for 3 or 6 months, then you should write to your creditors letting them know, and also include a date DD/MM/YYYY when payments will commence. When you write to them, you can also let them know that you only consent to receiving correspondence, in writing, via Royal Mail.


The link below will take you to a site that will guide through the SM process. It is a fantastic resource. It will even auto-generate letters for you, based on the data you have provided.
https://nedcab.cabmoney.org.uk/dmp.asp

thank you so much, very helpful. i will defer my monthly payment for next month so hopefully my creditors will default my accounts with them. I heard its better when my accounts are in default so i can then make f&f settlement offers when i have money saved up in few months time

flee

I’ve written to all our debtors and two have come back asking for her to complete an I&E (that’s fine) and get a doctors letter proving my wife’s mental health status.
Is this allowed?
My wife is on strong antidepressants and has recently gone through Councelling and currently having to work part time hours (hence the money troubles), getting a letter from the doctor would be humiliating for her, plus the reason for the request will be forever on her records and she is trying, very well, to get through this and put it behind her.

Suseka97

flee wrote: »

I’ve written to all our debtors and two have come back asking for her to complete an I&E (that’s fine) and get a doctors letter proving my wife’s mental health status.
Is this allowed?
My wife is on strong antidepressants and has recently gone through Councelling and currently having to work part time hours (hence the money troubles), getting a letter from the doctor would be humiliating for her, plus the reason for the request will be forever on her records and she is trying, very well, to get through this and put it behind her.

Sorry, I haven't spotted any earlier post on this.. but I imagine that seeing as you are stating your wife's mental health is the reason she is unable to make payments, they will naturally want some form of proof. Now, whether you provide this or not is really up to you. You can write back and state why you (she) is unwilling to do so and simply carry on with whatever arrangement you have in mind. As for the concern that this information would be 'forever on her records' - I'm not quite sure what you mean. If you were to provide the information asked for, then they (creditors) are governed by strict GDPR legislation and would not be able to retain information on your wife in perpetuity. You may find that if you sent something from her doctor, then the creditors might respond more sensitively to her situation. I only say that because mental health issues are taken seriously.