DMP mutual support thread part 13 !!

ditty1234

Thanks Willing2Learn, it is tempting as the hs8c accounts are the smallest amounts, but with the current situation they could haunt me for an other decade if I don't get them defaulted. I will call/write them again first though and see if I can get them to just actually do it ... just because.
Pixie Hope best of luck to you.

ditty1234

Hi PixieHope, I had a scavenge around the forums and found this sampleletter:

I wrote to all of my creditors similar letters to this and whilst it did take a reminder or two to Link/MBNA I successfully brought forward my default date (some by more than 9 months!)

“
I refer to the above mentioned closed and settled account which was being reported on my credit reference files.

I propose that as you have used arrangement to pay markers in place of a default on the account. It is understood that the Information Commissioner's Office does not agree with this and states that this is indeed unfair practice.

I entered into a debt management programme with Stepchange in October 2013 and provided you with a breakdown of my debts and income and expenditure.

I understand that you defaulted the account on 14th November 2014.

By April 2014 you were recording the marker ‘DM 3’ with Noddle/Callcredit which states ‘agreed repayments are 3 or more months behind…”

Clearly throughout 2014 I had failed to meet the contractual agreement and had defaulted on the account.

By entering into the DMP agreement you had sight of my income, outgoings and budget provided to you by Stepchange. This would have made it obvious to you that I was not in a position to repay the outstanding amount in full and would be in a DMP for several years.

The Information Commissioners Office guidelines state than an informal arrangement such as a DMP should not last for more than 6 months, after which either the account should be returned to normal or defaulted.

I contest the account is incorrectly reported from April 2014.

For your consideration all other creditors have defaulted my accounts with them prior to the date you have reported the default of 14th November 2014. Notably Barclaycard agreed after recent communication with them that the account with them should have been defaulted from January 2014 which they have now rectified.

If the current reporting of the account remains, then this places me at a disadvantage to those debtors who do not repay any amount to the creditor and have their account defaulted at the earliest opportunity.

I therefore propose it is against the Information Commissioner's Office guidelines for my debt not to have been defaulted on or before 1st April 2014.

I request that you place a default date on the account of 30th March 2014 with all of the credit reference agencies you report to. This will bring it in line with my other debts.

I look forward to your reply.

Yours faithfully,
”Hope that helps and you can pick the bones out of the letter to use best for your circumstances.

Which I might try, before I actually stop my DMP.

usedtobeblue

Could I please ask for some help with my DMP. I have a loan with Hitachi Capital and I haven't paid my contractual payment since Feb 2019. They still haven't defaulted me! Is there someway I can get them to do this? They charge me £25 every time they send a letter so they are actually increasing the debt. Everyone else has been fantastic but i'm at the end of my tether now.
Any help much appreciated.

sourcrates

usedtobeblue wrote: »

Could I please ask for some help with my DMP. I have a loan with Hitachi Capital and I haven't paid my contractual payment since Feb 2019. They still haven't defaulted me! Is there someway I can get them to do this? They charge me £25 every time they send a letter so they are actually increasing the debt. Everyone else has been fantastic but i'm at the end of my tether now.
Any help much appreciated.

You can write and complain, defaults should be applied after between 3/6 missed payments, see if that bears fruit.
Alternatively just wait till they sell the debt on, settlement offers will be available.

sjjay35

Hopefully i am not in the wrong thread, if so please feel free to send me to the right place. I am in DMP which is being managed ok, i was advised to ask creditors for CCA and have been told by Hoist finance that they do not have it. What should i do next, should i stop paying? or continue to pay them?

Thanks in advance for any advice

Willing2Learn

sjjay35 wrote: »

Hopefully i am not in the wrong thread, if so please feel free to send me to the right place. I am in DMP which is being managed ok, i was advised to ask creditors for CCA and have been told by Hoist finance that they do not have it. What should i do next, should i stop paying? or continue to pay them?

The Hoist account has become unenforceable as they are unable to provide you with a compliant CCA agreement. If you want to, you can withhold any further payments. Alternatively, you can use the unenforceability angle as leverage to make a very low full and final settlement offer

https://debtcamel.co.uk/ask-cca-agreement-for-debt/

https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx


Edit: And welcome to the forum sjjay35

sjjay35

Thank you very much:j

dibdabbers

Hi First time poster, firstly what a fab site I have learnt so much already, I'm finally going to try and get my finances in order in 2020. I have a plan but wanted to run it past you guys first. This is all knew to me as I have never missed a payment in my life but my unsecured debt is now at just over £25k across 7 accounts ranging from 1k to 6k and I'm paying £820 a month in payments.
I was going to go straight into a DMP but looking at this site I am going to stop payments (do I do this altogether or make a minimum token payment?) I will save the £800 while waiting for them to default, once defaulted I will enter a DMP continue to save £400 a month and then go for F and F settlements. Does this sound reasonable? WIsh me luck its pretty scary.

jubilee14

Willing2Learn wrote: »

But the DMP will not be recorded on any of your three credit files. The only way a mortgage lender would know about the DMP would be if you told them. But why would you tell them if there is no evidence? The only mortgage lender who would know about the DMP, would be a banking group with whom your previously had an account with that was part of the DMP. So you would avoid the same banking group...

Basically, in plain English, why would you grass yourself up? You wouldn't would you? You'd keep shtum about it lol

Hi there, i finished my DMP a year ago and one of my first targets was to get a new mortgage. I spoke with a number of mortgage advisers as i was coming to an end of the DMP. They suggested contesting any creditors that had not put me into default in a reasonable period of time. SO i did. First plus point was all did exactly that and as DMP had been 6 years plus all defaults were off within a month and i got payment of interest back for inconvenience which let me pay the last of it off a month earlier than planned.

next plan was to get new mortgage, as some settlements were a bit new to my credit score, they recommended waiting a couple of months to let my report settle, after that it was just as if i was normal, however first rate back was great but as it was a soft search advisor suggested holding back 6 weeks did so went back to same bank, who i had actually had difficulties with and they gave me a great rate has knocked £150/month of my mortgage.

So within 6/7 mths of dmp finishing was even better off plus the saving of not paying my DMP. I am going on holiday this year abroad for the first time in 10 years. DMP is a great way to rebalance your lifestyle.


Best of luck

SimonBck

jubilee14 wrote: »

Hi there, i finished my DMP a year ago and one of my first targets was to get a new mortgage. I spoke with a number of mortgage advisers as i was coming to an end of the DMP. They suggested contesting any creditors that had not put me into default in a reasonable period of time. SO i did. First plus point was all did exactly that and as DMP had been 6 years plus all defaults were off within a month and i got payment of interest back for inconvenience which let me pay the last of it off a month earlier than planned.

next plan was to get new mortgage, as some settlements were a bit new to my credit score, they recommended waiting a couple of months to let my report settle, after that it was just as if i was normal, however first rate back was great but as it was a soft search advisor suggested holding back 6 weeks did so went back to same bank, who i had actually had difficulties with and they gave me a great rate has knocked £150/month of my mortgage.

So within 6/7 mths of dmp finishing was even better off plus the saving of not paying my DMP. I am going on holiday this year abroad for the first time in 10 years. DMP is a great way to rebalance your lifestyle.


Best of luck

I have a mortgage adviser coming over tonight who says we have a good chance with a high street lender. He has examined my credit report and knows the ins and outs of how and why I got into debt. Me and my very supportive Wife have been saving like mad for the last 6 years so I hope it is not all in vain for a mortgage.