DMP mutual support thread part 13 !!

sourcrates

spreadtrader said:

Thanks for the response. I am nervous that I have made no payments at all and reading some other stories they have started the dmp and waiting for defaults. Just not sure when to offer payments plus all the accounts are old the barclaycard is around 2006 and the others are 1995 does this make a difference?

Owe yes, big difference, send a CCA request to them, it unlikely they will be able to comply, see here if you are not aware of the process -

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

In answer to the first part of your post, what are you nervous about ? it can only be legal action yes ?

All legal action does is allow you to repay your debt at a rate you can afford according to your budget, the only difference is its set by the court and not you, not really that bigger deal is it when you read it that way.

And as with everything of a legal nature, there is a process to go through, civil procedure rules apply, they must first send an LBA (letter before action) this allows an agreement to be reached without the courts being involved, so you would have plenty of time to make arrangements beforehand, oh. and you don`t have  to attend court in person either, its all done by post, and online.

Original creditors rarely take action through the courts anyway, they just sell the debts on, and wash their hands of them, there is really nothing to be afraid of, and the upper hand always remains with the debtor in these circumstances, as long as you are canny, and excersice your rights correctly.

ditty1234

Just checking in to say hi and thanks to the forum guides. I'm about a year into my DMP now, I have barely heard form my creditors, 2 accounts are not defaulted but I'm going to write to them soon, my DMP is on hold due to job insecurity around Covid, so am trying to pyt the payment into my EF, which is growing even though I have need it a few times.
@cottonbud12 really the best way to stop gambling is to get on a DMP, also you will not be paying your debt back with interest, trashing your credit will have the added benefit that it will probably stop you from being able to gamble. While I do not gamble I think I had a very unhealthy relationship with money while I was in a relationship with a very controlling and verbally abusive other, as I kept 'escaping' - going on holiday to see family and just spending more than what I had. 
Now I have 'nothing' but I'm as happy as can be, I've got more money month to month that I had before, I'm spending less, and I know I can't get credit - so I know I need to put money aside. Anyways.
Nothing new really, but looking back I am surprised I got trapped in the credit card trap, and without the automatic credit limit increases it would have never come to this, I never ever asked for a £25.000 credit limit, which is more than my yearly income ever was. If I had a say they should start a gentle automatic decrease and get peoples overall credit limit down to about one months pay which is what most people can afford to pay back in about a year without too much heart ache. 
I know this is not the place to moralise, but if I ever find myself in debt again, I will have to call myself stupid. Have a lovely bank holiday weekend with lots of free activities like walking, biking or rounders for a more energetic round of family fun. X  

TheWickerMan

It's evident from multiple posts on this forum that the original creditors usually sell the debts on. I've certainly had one loan debt and one credit card debt already sold on (to Lowell and BW Legal)

Just to check, do banks also usually sell overdraft debt on? I actually made the decision to go over £100 over my agreed limit into an 'unarranged overdraft' in an attempt to get the default ball rolling whilst saving the EF. Although they have not yet defaulted me, Santander have surprised me with the regularity of their collection letters. 

Norfolk_Jim

Now 6 months into my DMP, I'm surprised how little I've heard from my creditors - no one has phoned me, just the stream of template letters that are part of the process. I did tell Stepchange that my wife is vulnerable and I also suffer from poor mental health so I wonder if Stepchange tell my creditors this when setting up the DMP.

sourcrates

Norfolk_Jim said:

Now 6 months into my DMP, I'm surprised how little I've heard from my creditors - no one has phoned me, just the stream of template letters that are part of the process. I did tell Stepchange that my wife is vulnerable and I also suffer from poor mental health so I wonder if Stepchange tell my creditors this when setting up the DMP.

No ones been at work to hassle you jim, thats probebly why, covid-19 affects debt collectors just like the rest of us.

If you start getting calls, just block the numbers, simple.

sourcrates

TheWickerMan said:

It's evident from multiple posts on this forum that the original creditors usually sell the debts on. I've certainly had one loan debt and one credit card debt already sold on (to Lowell and BW Legal)

Just to check, do banks also usually sell overdraft debt on? I actually made the decision to go over £100 over my agreed limit into an 'unarranged overdraft' in an attempt to get the default ball rolling whilst saving the EF. Although they have not yet defaulted me, Santander have surprised me with the regularity of their collection letters. 

Yes overdrafts are simple contract debts, just like cards and loans, and get sold on in bulk, in the same way any other debts do.

cherokee

I've had a CCA response from PRA group about a Barclaycard debt. The letter says they are enclosing information received to date ( a "copy statement" print out)  and say they currently deem the debt as unenforceable. Then they say if they obtain information in the future they will provide it to me immediately.  Please can anyone advise what my next step should be here?  Should I offer a low final settlement or wait to see if they come back with any other information - thanks

sunshinevicky

Hi all
So I am around £30k in debt to various providers including Lendable (£8k), Cap One (£3k), Vanquis (£3.5k), Very (£3k), Littlewoods (£3k), Next (£2k), Barclaycard (£5.5k).... I have been making minimum payments on all and never missed a payment but due to childcare changes I have got to drop hours at work losing around £400 per month. I have been losing sleep about what to do and found SC which suggested a DMP. I feel like this is the best way forward into clearing my debts as I would be able to afford around £300 per month and then in 18months hopefully be able to increase my hours at work and pay more. But I have some huge concerns:
1. My husband knows nothing of my debts and would be horrified- he has a high position in a bank and I’m worried my DMP would affect him?
2. I’m worried about what happens when you stop paying creditors... am I likely to get bailiffs knocking at the door?
3. I have a Bank account and CC with Nationwide which I have had for 10years... the balance on CC is £1k but I am paying more than minimum on this each month so I would ideally like to not include this in my DMP so I could keep the same bank account running- would this be possible? 

I’m really sorry for the long post I am feeling low and scared and have nowhere else to turn .... I really want to start making positive improvements on my debt but also don’t want to lose my family/marriage because of it!
TIA

Palpitations

Hi- I’ve got my own DMP (most accounts defaulted may onwards last year) I’ve got 3 accounts with creation who have been horrendous. I’ve only just managed to settle one and they instructed solicitors threatening court, they’ve accepted payment. 

I’ve still got 2 and they continuously send me statements (I haven’t paid for over a year!) I’ve contacted them in the past the same way as all my other creditors but they end up asking for payslips which I don’t want to provide. Out of the 2 accounts only one is showing as defaulted and the other is showing on my credit file as up to date (?) my worry is the other accounts are obviously going to drop off my credit file eventually but the longer they take to default this 1 account is this going to take even longer for my credit file to be improved the longer this one default is delayed? This has been going on about 18 months now and I’m at a Loss what to do, advice appreciated. 

Willing2Learn

cherokee said:

I've had a CCA response from PRA group about a Barclaycard debt. The letter says they are enclosing information received to date ( a "copy statement" print out)  and say they currently deem the debt as unenforceable. Then they say if they obtain information in the future they will provide it to me immediately.  Please can anyone advise what my next step should be here?  Should I offer a low final settlement or wait to see if they come back with any other information - thanks

You can withhold any further payment toward the account, whilst they attempt to locate a 'true copy' of your agreement.
or
You could make a low percentage, written Full & Final Settlement offer, via Royal Mail