DMP mutual support thread part 13 !!

emsyy

It just escalated over a number of years - taking out credit to cover credit - only making minimum payments. Burying my head in the sand. 

I think I’m close to breaking point. The fact that I can’t tell my husband or family makes me feel so lonely. He thinks we are ok financially! I am the perfect example of a bad wife and mother.

Willing2Learn

emsyy said:

The fact that I can’t tell my husband or family makes me feel so lonely. He thinks we are ok financially! I am the perfect example of a bad wife and mother.

You sound like you might be a wonderful wife and mother.  Maybe you have taken the wrong financial path over the years.  But I am pretty certain that it does not reflect on your family skills.

I recommend you share the emotional burden with your husband.  Post your SOA first so that we can take a look at put together a plan to move forward.  Once you have a plan, you may find it easier to talk things through. 

StMatthias

sourcrates said:

cherokee said:

Can someone explain how you push for a default please? I have 2 accounts on dmp with NEXT and AQUA (NEW DAY) neither of which are showing as D (default).  Do I need a reason for or do I contact them and ask for default? thanks

Write and ask them to default you as you are been penalised for repaying your indebtedness, been marked as in an arrangement to pay,  you are been treated worse than someone not paying anything at all.

Follow through complaints procedure if nessessary, if all else fails stop paying them, mind you that doesnt always work either, you have to be very forceful with these companies, otherwise they just walk all over you.

Just to piggy back onto this, can I ask to default after only missing one or two payments before going into a DMP or is there some minimum number of missed payments?
My DMP starts at the beginning of June and I will have only missed 2/3 payments (back-to-back) at that point, so I was hoping I could get the default sorted then so that I can get all that done as soon as possible.

Thanks,

Matt

Willing2Learn

StMatthias said:

sourcrates said:

cherokee said:

Can someone explain how you push for a default please? I have 2 accounts on dmp with NEXT and AQUA (NEW DAY) neither of which are showing as D (default).  Do I need a reason for or do I contact them and ask for default? thanks

Write and ask them to default you as you are been penalised for repaying your indebtedness, been marked as in an arrangement to pay,  you are been treated worse than someone not paying anything at all.

Follow through complaints procedure if nessessary, if all else fails stop paying them, mind you that doesnt always work either, you have to be very forceful with these companies, otherwise they just walk all over you.

Just to piggy back onto this, can I ask to default after only missing one or two payments before going into a DMP or is there some minimum number of missed payments?
My DMP starts at the beginning of June and I will have only missed 2/3 payments (back-to-back) at that point, so I was hoping I could get the default sorted then so that I can get all that done as soon as possible.

We recommend that folks delay their DMP start date by 3-6 months.  This provides encouragement to your creditors to default the applicable accounts nice and early.

chris1970s

Remus1975 said:

Willing2Learn said:

Hi dibdabbers
There is a problem with your plan as unfortunately we are in the middle of the COVID-19 crisis.  The recording of defaults is now delayed by three months.  This will mean you having to stop making payments for 6-9 months.

The good news is that all eviction proceeding are also delayed by three months.

Hi. I'm in a similar position. Stopped my payments in March for 6 months in order to build an EF and in an aim to get defaults. Bit concerned that creditors will not be willing to wait 9 months without payment and start getting heavy with the legal threats. 

Picked my time to start a DMP 😬

I've also sent off my CCA requests and each time a creditor replies they also send me back the £1 postal order saying it isn't required anymore 

The £1 thing not being required is great news - i will call them Cabot and Hoist tomorrow and see if i can get an appropriate email address to request them for the CCAs.

sourcrates

chris1970s said:The £1 thing not being required is great news - i will call them Cabot and Hoist tomorrow and see if i can get an appropriate email address to request them for the CCAs.

Please note, under the terms of the consumer credit act 1978, for a CCA request to be valid, you must ;

(A) make it in writing,

and

(B) enclose the statutory £1 payment using either a cheque or a postal order.

If the creditor no longer requires the £1 payment, they will return it to you, not all creditors will do that.

Leave the order blank incase they do return it.

The correct template letter can be found here ;

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-(sole-name).aspx

StMatthias

Willing2Learn said:

StMatthias said:

sourcrates said:

cherokee said:

Can someone explain how you push for a default please? I have 2 accounts on dmp with NEXT and AQUA (NEW DAY) neither of which are showing as D (default).  Do I need a reason for or do I contact them and ask for default? thanks

Write and ask them to default you as you are been penalised for repaying your indebtedness, been marked as in an arrangement to pay,  you are been treated worse than someone not paying anything at all.

Follow through complaints procedure if nessessary, if all else fails stop paying them, mind you that doesnt always work either, you have to be very forceful with these companies, otherwise they just walk all over you.

Just to piggy back onto this, can I ask to default after only missing one or two payments before going into a DMP or is there some minimum number of missed payments?
My DMP starts at the beginning of June and I will have only missed 2/3 payments (back-to-back) at that point, so I was hoping I could get the default sorted then so that I can get all that done as soon as possible.

We recommend that folks delay their DMP start date by 3-6 months.  This provides encouragement to your creditors to default the applicable accounts nice and early.

Ah, my bad. I only delayed mine by one month (so it'll be 3/4 months of none payments). Do you think this will an issue?

Thanks,

Matt

sourcrates

Creditors are not bothered when you do or don`t start to pay, if you leave it too long, they simply offload the account to a debt purchasing company and wash their hands of it, its that simple, they don`t really want to be bothered managing bad debts, which is why most defaulted accounts are sold on.

So you just do whats best for you, the rest will sort itself out.

jimmy2984

Hi. I'm on a DMP and all is going well. I've just had an offer of a PPI payout from RBS and this is from some loans and CC's I had with Natwest from the 90's. This is great. However: i have a couple of loans and overdrafts on my DMP with Natwest which have been passed to their agents, Wescotts. On the letter with the PPI offer it says that any payout will take into account any arrears on my account held with them and the remaining balance will be credited to my current account. Does this mean they will just send my payout straight to wescotts or will it come to me? Either way this is good, I'd just rather pay off some more pressing things first as I've just been furloughed! Any advice would be great! Thanks all.

Willing2Learn

Yup.  They well likely set off your PPI award against any debt you may have with the same banking group.