DMP mutual support thread part 13 !!

ditty1234

TheCommonDan said:

So the general consensus is that it is better to defaulted accounts at an earlier date rather than a rolling arrangement to pay/dmp on your credit file? I am going to ring HSBC up to try and get my defaults backdated and partially settle my smaller arrangement to pays.

Hi @TheCommonDan and @KimbullDF HS8C has messed me about for over a year and I don't like them, every time I have called them they have just postponed my default or made it an arrange to pay. I pay £125 a month with Stepchange,(paused since May for covid and to force HS8C defaults) not much but I have to get citizen ship this year and I have school leavers who needs help, so am vaguely hoping to pay more later when the demands on each debt is clear. I have also filed a complaint with HS8C! I honestly think I will go self managed when I go back to paying my DMP. But Stepchange is great for getting started, just make sure you get everything defaulted first.

KimbullDF

General question regarding contacting creditors as there is a lot of written templates. Is it generally acceptable to email instead ? Or must it all be written and posted to them? 

sourcrates

KimbullDF said:

General question regarding contacting creditors as there is a lot of written templates. Is it generally acceptable to email instead ? Or must it all be written and posted to them? 

General communication can be sent via email, anything of a sensitive or personal nature is better sent by letter.

Anything to do with your statutory rights, for example a request for information under sec 77/79 CCA, again to be legitimate, must be in writing.

MrTall

Update: A little over 10 months on, and the DMP is ticking along.

The initial panic and worry aside, it's been pretty stress free, with the exception of PayPal several months back. StepChange had been advised Moorcroft would be taking payments on their behalf, yet the PayPal CSR categorically denied this and was saying that I'd "just stopped paying" the arranged amount the previous couple of months. That was a stressful day getting the issue resolved, and trying to get PayPal and Moorcroft talking to each other. Turns out PayPal were meant to be receiving payments from Moorcroft after all, they just hadn't updated certain systems

Things have been fine since, however, and that was definitely the exception rather than the norm. Everything has been pretty much hassle free, and I'm starting to consider transitioning to a self-managed DMP.

KimbullDF

Another quick query, I've found no end of templates for communication with creditors however can't find one for communication preference. Does anyone have experience or a decent template to request how you want to be contacted. Or is it as simple as sticking a paragraph in a letter simply stating it ? May sound like a silly question but I'd rather get things right from the offset. Spent long enough muddling through life riddled with debt 

sourcrates

KimbullDF said:

Another quick query, I've found no end of templates for communication with creditors however can't find one for communication preference. Does anyone have experience or a decent template to request how you want to be contacted. Or is it as simple as sticking a paragraph in a letter simply stating it ? May sound like a silly question but I'd rather get things right from the offset. Spent long enough muddling through life riddled with debt 

Yup, thats about it -

To whom it may concern,

Please contact me in writing only from now on,

Regards

jon0108

Hi All, 
Started a DMP with Stepchange about 8 years ago with 60K 
Now at 12k and considering going self managed.
I have 12 accounts left between me and my OH. Balances ranging from £2500 to £100.
I like Step Change but dont like not being able to do Full and Final offers on individual account. They insist on offers going to all creditors. The main reason for considering self managed is to allow me to pick the debts off as I can afford to do Full and Finals. 
I've done CCAs and have some unenforable which I am considering parking. 
Just wondered if others felt this was a good strategy or if there are any pit falls that I haven't spotted.
Many thanks 
Jonathan

BooBoo77

jon0108 said:

Hi All, 
Started a DMP with Stepchange about 8 years ago with 60K 
Now at 12k and considering going self managed.
I have 12 accounts left between me and my OH. Balances ranging from £2500 to £100.
I like Step Change but dont like not being able to do Full and Final offers on individual account. They insist on offers going to all debtors. The main reason for considering self managed is to allow me to pick the debts off as I can afford to do Full and Finals. 
I've done CCAs and have some unenforable which I am considering parking. 
Just wondered if others felt this was a good strategy or if there are any pit falls that I haven't spotted.
Many thanks 
Jonathan

I'm planning to do very similar.  In preparation for Full and Final offers and going self managed (prob in about 6 months) I've just agreed a reduced budget with Stepchange.  It's a genuine budget but gives me more wiggle room with day to day expenses.  I'm thinking if my repayments are less for a while and the final pay off date is a long way off (mine went from 8 years to debt free to16 years when my repayments went from £194 to £91) they may be more amenable to lower F&F settlements when I start making them.  Just a thought.  Good luck!

sourcrates

Hi jon0108,

Fantastic stratagy yes, i would encourage everyone to do it, gives you your freedom back to run your plan as you please, i say do it.

Halfwaythere

I’ve Gone self managed 47k to 16k trying to to f&fs with Intrum and Link but only getting 20% discount max at the moment. Still waiting on CCAS think I might leave it a few months, getting a bit disheartened now thought if I’m honest