DMP mutual support thread part 13 !!

scot23

Hi, not been on for a while but finally making progress. My DAS/DPP has been approved and first payment starts in Aug. Just wondering what happens to my online banking? Will my overdraft still show when I log into app or will halifax and RBS cancel these accounts. Also will i still receive statements from my other debts? I keep getting paper statements from Argos saying late payment but they already ‘passed’ it over to Moorcroft. Thanks again for all the advice. It’s such a relief to know I am on the right track now.😀

sourcrates

spreadtrader said:

Hi everyone just a bit of advice please as not sure if next step to take.
Basically stopped paying my monthly payments in December and advised the 3 creditors that I am in financial difficulty. Got a letter from each recently saying they are registering defaults if I don’t pay and I have received a confirmation from BC today saying account is defaulted and I have to pay the full balance otherwise they may take further action.
i have just sent them a soa and with the current situation I can only make very small payment to them, what if they don’t accept it? I’m hoping to increase when my situation hopefully improve but that might be next year niw😱
BTW all the accounts are old mbna back to 95 

BC 2005 when it was egg I think
thx

Hi,

Defaults are good, default notice standard wording gives you 14 days to repay full balance, further action will be sale of your account to a debt purchasor.

Should hold off on payments, creditors just sell accounts on if they are unhappy for any reason.

CCA request may be to your advantage, most egg agreements were deficiant, as were some MBNA .

Let this run its natural course, the new owners will write to you shortly.

ditty1234

Hi just to say I'm off the hook for now, Stepchange has given me two more months break, I think that's all they can do at a time. That saves me going self managed for now. The agency work that kept me afloat last year gave me a furlough, but that is now ending and the NHS job I though I had as bank staff does not seem to be possible to do as bank manager never answers calls or gets back on anything. He probably thinks I'm a pain but at the mo that is kind of mutual. 
Anyways DMP plan is still on break as planned, I'm surviving, and I now have 5 weeks of summer holls to rethink my options. Keep at it, keep communication and keep track. Stay in charge.

TuxedoCat

Set up my new DMP recently and Hitachi have rejected my proposed payment. So not only are they applying late payment markers, refusing to default and making me feel very very unwell mentally, they now refuse to accept my income and expenditure and the lower payment amount. This could impact my job due to the industry I work in as it flags up each time they credit check me. 

What do companies get from not defaulting and rejecting payments? Is there a reason they do this? Or just to see financially/mentally affected customers as scum on their shoe?

sourcrates

TuxedoCat said:

Set up my new DMP recently and Hitachi have rejected my proposed payment. So not only are they applying late payment markers, refusing to default and making me feel very very unwell mentally, they now refuse to accept my income and expenditure and the lower payment amount. This could impact my job due to the industry I work in as it flags up each time they credit check me. 

What do companies get from not defaulting and rejecting payments? Is there a reason they do this? Or just to see financially/mentally affected customers as scum on their shoe?

Stubboness, and because they can i suppose.

Usual way to deal with this, is to just keep paying them, they will, in the course of time, either sell the debt, or pass it to a collector, either of whom will accept whatever you offer.

In the grand scheme of things, it dosen`t matter if a creditor accepts your offer, or not, the owner of your debt is irelivant to you, if they are unhappy, they just sell it on, you just make payment to whoever writes to you asking for the money, no one will refuse it.

Remember, your relationship with this creditor has now broken down, so expect no favours.

TuxedoCat

sourcrates said:

TuxedoCat said:

Set up my new DMP recently and Hitachi have rejected my proposed payment. So not only are they applying late payment markers, refusing to default and making me feel very very unwell mentally, they now refuse to accept my income and expenditure and the lower payment amount. This could impact my job due to the industry I work in as it flags up each time they credit check me. 

What do companies get from not defaulting and rejecting payments? Is there a reason they do this? Or just to see financially/mentally affected customers as scum on their shoe?

Stubboness, and because they can i suppose.

Usual way to deal with this, is to just keep paying them, they will, in the course of time, either sell the debt, or pass it to a collector, either of whom will accept whatever you offer.

In the grand scheme of things, it dosen`t matter if a creditor accepts your offer, or not, the owner of your debt is irelivant to you, if they are unhappy, they just sell it on, you just make payment to whoever writes to you asking for the money, no one will refuse it.

Remember, your relationship with this creditor has now broken down, so expect no favours.

Aye - don’t I know it! Currently awaiting ombudsman verdict in an ongoing complaint regarding my credit file and their treatment. It feels like they are trying to punish me.

Debt is over £6k so questioning if they’re seeking a CCJ. 

Halfwaythere

Hi I am looking for advice on wether full and final settlement offers is a realistic option for me. I owe around 19k and have paid back 27k after starting a DMP the end of 2017. I have 6.6k on accounts that are Currently marked as arrangement to pay and 2 defaulted accounts which I would like to offer on, these are
intrum 4.6k
Link financial 7.7k
I am currently paying around £250/282 a month towards these and they would be paid in full with the rest of my account in April 2022. I would like to start saving for a mortgage.
I now have 5k available to me to put on the debts. I was thinking of offering this between the two defaulted accounts which would be an offer of 40% on each. 

What do you think my chances are on this?
Thanks

Suseka97

Halfwaythere said:

Hi I am looking for advice on wether full and final settlement offers is a realistic option for me. I owe around 19k and have paid back 27k after starting a DMP the end of 2017. I have 6.6k on accounts that are Currently marked as arrangement to pay and 2 defaulted accounts which I would like to offer on, these are
intrum 4.6k
Link financial 7.7k
I am currently paying around £250/282 a month towards these and they would be paid in full with the rest of my account in April 2022. I would like to start saving for a mortgage.
I now have 5k available to me to put on the debts. I was thinking of offering this between the two defaulted accounts which would be an offer of 40% on each. 

What do you think my chances are on this?
Thanks

It's always worth a shot, you've basically got nothing to lose by trying.  However, its worth following the advice given in this liink:
https://debtcamel.co.uk/ask-cca-agreement-for-debt/  If creditors or DCAs are unable to provide the request paperwork - it puts you in a stronger position in negotiating F&Fs.
As for those with AP markers, you really need to be pushing for defaults on them otherwise it'll scupper your plans when you start applying for mortgages.  You can still get one, of course, but you would need the services on a good broker and would be less likely to secure a decent mortgage rate with APs on your file (they stay for 6 years after you've settled the debt).  Whereas your defaults will drop off 6 years from the date the default was applied.

Halfwaythere

Suseka97 said:

Halfwaythere said:

Hi I am looking for advice on wether full and final settlement offers is a realistic option for me. I owe around 19k and have paid back 27k after starting a DMP the end of 2017. I have 6.6k on accounts that are Currently marked as arrangement to pay and 2 defaulted accounts which I would like to offer on, these are
intrum 4.6k
Link financial 7.7k
I am currently paying around £250/282 a month towards these and they would be paid in full with the rest of my account in April 2022. I would like to start saving for a mortgage.
I now have 5k available to me to put on the debts. I was thinking of offering this between the two defaulted accounts which would be an offer of 40% on each. 

What do you think my chances are on this?
Thanks

It's always worth a shot, you've basically got nothing to lose by trying.  However, its worth following the advice given in this liink:
https://debtcamel.co.uk/ask-cca-agreement-for-debt/  If creditors or DCAs are unable to provide the request paperwork - it puts you in a stronger position in negotiating F&Fs.
As for those with AP markers, you really need to be pushing for defaults on them otherwise it'll scupper your plans when you start applying for mortgages.  You can still get one, of course, but you would need the services on a good broker and would be less likely to secure a decent mortgage rate with APs on your file (they stay for 6 years after you've settled the debt).  Whereas your defaults will drop off 6 years from the date the default was applied.

I rang Sainsbury’s and she said they would default my account from that date and she thought it was hilarious and insisted this was completely wrong and the defaults were worse and the ap accounts would get less and less on my credit, argh just don’t know now. PRA group refused to default and so did virgin. Feel like I won’t ever get a mortgage and don’t know the right pass to go with it all. I’m so glad I went into the DMP as I have now paid 27k which feels good i just feel I have wrecked any chance of getting a new home 😭

Suseka97

Halfwaythere said:

Suseka97 said:

Halfwaythere said:

Hi I am looking for advice on wether full and final settlement offers is a realistic option for me. I owe around 19k and have paid back 27k after starting a DMP the end of 2017. I have 6.6k on accounts that are Currently marked as arrangement to pay and 2 defaulted accounts which I would like to offer on, these are
intrum 4.6k
Link financial 7.7k
I am currently paying around £250/282 a month towards these and they would be paid in full with the rest of my account in April 2022. I would like to start saving for a mortgage.
I now have 5k available to me to put on the debts. I was thinking of offering this between the two defaulted accounts which would be an offer of 40% on each. 

What do you think my chances are on this?
Thanks

It's always worth a shot, you've basically got nothing to lose by trying.  However, its worth following the advice given in this liink:
https://debtcamel.co.uk/ask-cca-agreement-for-debt/  If creditors or DCAs are unable to provide the request paperwork - it puts you in a stronger position in negotiating F&Fs.
As for those with AP markers, you really need to be pushing for defaults on them otherwise it'll scupper your plans when you start applying for mortgages.  You can still get one, of course, but you would need the services on a good broker and would be less likely to secure a decent mortgage rate with APs on your file (they stay for 6 years after you've settled the debt).  Whereas your defaults will drop off 6 years from the date the default was applied.

I rang Sainsbury’s and she said they would default my account from that date and she thought it was hilarious and insisted this was completely wrong and the defaults were worse and the ap accounts would get less and less on my credit, argh just don’t know now. PRA group refused to default and so did virgin. Feel like I won’t ever get a mortgage and don’t know the right pass to go with it all. I’m so glad I went into the DMP as I have now paid 27k which feels good i just feel I have wrecked any chance of getting a new home 😭

Unfortunately the people that work in some of those debt collection depts really don't know much about how this all works.  She is very mistaken in believing AP/AR markers have a lesser impact than defaults.  But in terms of your future plans for a mortgage - please don't despair.  Look, even if when the time comes your credit file isn't squeaky clean - you can still get a mortgage.  You just need to speak to a broker who has experience in helping people with a poor credit record - its perfectly doable.  You've done great to pay off £27k - that's pretty impressive, so chin up  

As for the PRA group and Virgin - one way of forcing the default issue is to stop paying them - just thought!