DMP mutual support thread part 13 !!

SuperFrank88

sunshinevicky said:

sourcrates said:

sunshinevicky said:

Hi all ... me again!
 So my question is now that time is coming do I send in the I&E form and offer of payment but explain I won’t be making payments until November (when my EF will be built up) or simply just not send anything until I want to start?
I’m just worried as all have agreed to written communication as long as I keep them updated so I don’t want to push them into ringing home phone or sending a debt collector to the home

Send a simple email to everyone stating your intentions.

Don`t overthink this vicky, debt collectors don`t knock on doors any more, only one company i know of still does this, debt collectors work mainly from call centres nowadays.

25% of all credit accounts in the UK default on average every quarter, thats about £30 billion pounds, each household has an average debt of £12000, excluding mortgages, so thats an aweful lot of doors for santa to knock on don`t you think.

Thank you once again Sourcrates.... your advice is always great and really helps me.... I think I’m my head I really want to be at the point where standing orders are set up and I am paying a regular amount to my debts but I also know I need to be firm to get these defaults to get the interest frozen. I shall email them all today as a reminder of my intentions! Thank you!!! 😊

Hi Vicky,
I was in exactly the same position as you at the start of the year, panicking about what to do and when to do it. I listened to the advice @sourcrates gave me which is pretty much identical to the advice he is giving you. He was right! I am 8 months in now since I first stopped paying my account and the defaults are starting to flow in nicely. Once I get a default, I write to my creditor and tell them exactly how much I am going to be paying them. They send a letter back with the details to pay and hey-ho it's job done. I look back now and wonder what I was getting myself worked up for! Nothing! Stick to the plan and be patient and it will all fall into place nicely, may take a bit longer now during the current situation but it will happen.

Frank

sunshinevicky

SuperFrank88 said:

sunshinevicky said:

sourcrates said:

sunshinevicky said:

Hi all ... me again!
 So my question is now that time is coming do I send in the I&E form and offer of payment but explain I won’t be making payments until November (when my EF will be built up) or simply just not send anything until I want to start?
I’m just worried as all have agreed to written communication as long as I keep them updated so I don’t want to push them into ringing home phone or sending a debt collector to the home

Send a simple email to everyone stating your intentions.

Don`t overthink this vicky, debt collectors don`t knock on doors any more, only one company i know of still does this, debt collectors work mainly from call centres nowadays.

25% of all credit accounts in the UK default on average every quarter, thats about £30 billion pounds, each household has an average debt of £12000, excluding mortgages, so thats an aweful lot of doors for santa to knock on don`t you think.

Thank you once again Sourcrates.... your advice is always great and really helps me.... I think I’m my head I really want to be at the point where standing orders are set up and I am paying a regular amount to my debts but I also know I need to be firm to get these defaults to get the interest frozen. I shall email them all today as a reminder of my intentions! Thank you!!! 😊

Hi Vicky,
I was in exactly the same position as you at the start of the year, panicking about what to do and when to do it. I listened to the advice @sourcrates gave me which is pretty much identical to the advice he is giving you. He was right! I am 8 months in now since I first stopped paying my account and the defaults are starting to flow in nicely. Once I get a default, I write to my creditor and tell them exactly how much I am going to be paying them. They send a letter back with the details to pay and hey-ho it's job done. I look back now and wonder what I was getting myself worked up for! Nothing! Stick to the plan and be patient and it will all fall into place nicely, may take a bit longer now during the current situation but it will happen.

Frank

Thanks for this Frank.... it really helps settle my worries when I hear from people like you that have been there and done it! I guess I’m just impatient! Will hold on for those defaults! X

DebtHurricane

SuperFrank88 said:

sunshinevicky said:

sourcrates said:

sunshinevicky said:

Hi all ... me again!
 So my question is now that time is coming do I send in the I&E form and offer of payment but explain I won’t be making payments until November (when my EF will be built up) or simply just not send anything until I want to start?
I’m just worried as all have agreed to written communication as long as I keep them updated so I don’t want to push them into ringing home phone or sending a debt collector to the home

Send a simple email to everyone stating your intentions.

Don`t overthink this vicky, debt collectors don`t knock on doors any more, only one company i know of still does this, debt collectors work mainly from call centres nowadays.

25% of all credit accounts in the UK default on average every quarter, thats about £30 billion pounds, each household has an average debt of £12000, excluding mortgages, so thats an aweful lot of doors for santa to knock on don`t you think.

Thank you once again Sourcrates.... your advice is always great and really helps me.... I think I’m my head I really want to be at the point where standing orders are set up and I am paying a regular amount to my debts but I also know I need to be firm to get these defaults to get the interest frozen. I shall email them all today as a reminder of my intentions! Thank you!!! 😊

Hi Vicky,
I was in exactly the same position as you at the start of the year, panicking about what to do and when to do it. I listened to the advice @sourcrates gave me which is pretty much identical to the advice he is giving you. He was right! I am 8 months in now since I first stopped paying my account and the defaults are starting to flow in nicely. Once I get a default, I write to my creditor and tell them exactly how much I am going to be paying them. They send a letter back with the details to pay and hey-ho it's job done. I look back now and wonder what I was getting myself worked up for! Nothing! Stick to the plan and be patient and it will all fall into place nicely, may take a bit longer now during the current situation but it will happen.

Frank

Just a question Frank, when you send a payment offer, do you include an income/expenditure and do you tell them about other debts or what you’re paying the other creditors. 

I’m hoping to only set payments up with the debts that have defaulted but wary of the amount of info they’re going to ask for. 

Headabovethewater

Hi were 6 months in and I'm having a similar wobble, will be glad when finally making payments.  Only barclaycard have defaulted me so far, letters written end of Feb.  Mbna letters close but yorkshire bank and tesco nothing.   I have ignored all but as time goes on should I write and request default? (I know they don't have to?)

Also husbands vanquis and newday amazon is now with moorcroft would they confirm if they are defaulted or does the fact they have them mean they are?

Zopa defaulted and is with Intrum - do you start to offer payments once these companies have them?

Apologies for flakiness, family member still in hospital following covid and I've just buried head in sand filing letters away - felt so much more positive staring out!  Thank you for any advice and the shove I need!

BooBoo77

Suseka97 said:

ditty1234 said:

BooBoo77 said:

For those asking for CCAs and moving to self management did you temporarily stop paying to build up full and final settlements, pending receipt of the CCAs? Also if so how did you explain that to the debt charities? Thanks. 

Yes and No!
Once you send the letter for CCA the DCA will freeze the account until is is either deemed enforceable or unenforceable. Somebody correct me if I'm wrong. So you should not keep paying. 
I have stopped my DMP with SC under cover and fear of Covid and consequences and will be going self managed when I start paying again. I have 2 missing defaults and 3 potentially unenforceable credit card accounts. 
So it's your call, but I think SC will just want you to keep paying, thats why people tend to go self managed when they start the CCA process. 
Hope that helps and somebody help me if I'm wrong, I'm not an expert. 

Some DCAs may say that they will put the account on hold but will quite happily keep taking your payment whilst they investigate the CCA request.  What they cannot do is take any enforcement action whilst they search for that elusive paperwork, but wouldn't be taking enforcement action anyway - as you are in an agreed DMP.

So you should stop paying, but if you stay with SC they will want you to continue - they have no interest in the status of a debt as far as UE's and Non-UE's go.  So if you are going down that route then you will need to take control of your DMP and close your account with SC.

Thanks ever so much both of you.  I've only just agreed a new budget with SC to start September so may wait til that gets paid twice and then go self managed and stop paying while they all produce paperwork.  One is an overdraft so I'll keep paying that as I think I read here that the CCA thing doesn't apply for that.  I've also just got a credit building CC to build up my credit records now the defaults are dropping off come September, so am feeling really positive to have a plan.  Thanks again all for such invaluable help.  Quite excited about going self managed and starting to work towards F&F settlements or to pay off enforceable debts at a quicker rate.  

BooBoo77

Sorry me again, I'm rethinking what I need to do, as I've already had a letter back from Pra Group acknowledging my CCA request and I think it probably makes more sense to immediately self manage and pause payments pending the CCA searches. Is something like this letter ok do you think?  I would really like to save towards F&F asap so the sooner I pause payments pending the CCA searches the better.  If any of my debts are unenforceable I'd plan to wait and then make low F&F.  They should all (but a small one I've paid off in full) be off my credit reports by end of Sept (as they defaulted in Sept 2014).  Thanks ever so much for any thoughts/advice including any pointers on the draft.

Dear Sir / Madam

Account Reference xxxxxxx

I am writing to you to advise that I am intending to begin self managing my Debt Management Plan which has previously been administered by Step Change.

My circumstances are unchanged since the budget I agreed with Step Change in August and the amount I can afford to pay beginning in September remains at £xx.  This will be apportioned between my creditors including yourselves as previously.

However pending receipt of the CCA documentation requested from you and my other creditors earlier this week, I am going to temporarily stop payments to you while you locate the necessary CCA paperwork.

I look forward to hearing from you as soon you have concluded your searches for CCA paperwork.

I would also be grateful if you could send me an up to date statement of the outstanding debt together with the details I would need in order to make payments directly to you, rather than via Step Change.  

I request that all correspondence with me is via letter only at the address shown above. 

I have sent a copy of this letter to Step Change also.

Thank you for your assistance.

Yours faithfully,

SuperFrank88

DebtHurricane said:

SuperFrank88 said:

sunshinevicky said:

sourcrates said:

sunshinevicky said:

Hi all ... me again!
 So my question is now that time is coming do I send in the I&E form and offer of payment but explain I won’t be making payments until November (when my EF will be built up) or simply just not send anything until I want to start?
I’m just worried as all have agreed to written communication as long as I keep them updated so I don’t want to push them into ringing home phone or sending a debt collector to the home

Send a simple email to everyone stating your intentions.

Don`t overthink this vicky, debt collectors don`t knock on doors any more, only one company i know of still does this, debt collectors work mainly from call centres nowadays.

25% of all credit accounts in the UK default on average every quarter, thats about £30 billion pounds, each household has an average debt of £12000, excluding mortgages, so thats an aweful lot of doors for santa to knock on don`t you think.

Thank you once again Sourcrates.... your advice is always great and really helps me.... I think I’m my head I really want to be at the point where standing orders are set up and I am paying a regular amount to my debts but I also know I need to be firm to get these defaults to get the interest frozen. I shall email them all today as a reminder of my intentions! Thank you!!! 😊

Hi Vicky,
I was in exactly the same position as you at the start of the year, panicking about what to do and when to do it. I listened to the advice @sourcrates gave me which is pretty much identical to the advice he is giving you. He was right! I am 8 months in now since I first stopped paying my account and the defaults are starting to flow in nicely. Once I get a default, I write to my creditor and tell them exactly how much I am going to be paying them. They send a letter back with the details to pay and hey-ho it's job done. I look back now and wonder what I was getting myself worked up for! Nothing! Stick to the plan and be patient and it will all fall into place nicely, may take a bit longer now during the current situation but it will happen.

Frank

Just a question Frank, when you send a payment offer, do you include an income/expenditure and do you tell them about other debts or what you’re paying the other creditors. 

I’m hoping to only set payments up with the debts that have defaulted but wary of the amount of info they’re going to ask for. 

Hi DH,

Yes I used the Citizens Advice self management tool which created a I&E for the accounts I had logged down (So you could only put the accounts that have defaulted if you wanted) and split the offer amounts accordingly so that the highest balances were getting the biggest chunk of my 'left for debt repayment' pot. Hope that makes sense. Once they have your I&E then they haven't got much choice than to accept that offer because they know the CAB have generated the I&E. I did leave myself some wiggle room in my I&E. For example if I spend £120 on petrol but I put in £150. Nothing too extravagant but it means you are not living to a super strict budget. Hope this helps.

Frank 

Suseka97

BooBoo77 said:

Sorry me again, I'm rethinking what I need to do, as I've already had a letter back from Pra Group acknowledging my CCA request and I think it probably makes more sense to immediately self manage and pause payments pending the CCA searches. Is something like this letter ok do you think?  I would really like to save towards F&F asap so the sooner I pause payments pending the CCA searches the better.  If any of my debts are unenforceable I'd plan to wait and then make low F&F.  They should all (but a small one I've paid off in full) be off my credit reports by end of Sept (as they defaulted in Sept 2014).  Thanks ever so much for any thoughts/advice including any pointers on the draft.

Dear Sir / Madam

Account Reference xxxxxxx

I am writing to you to advise that I am intending to begin self managing my Debt Management Plan which has previously been administered by Step Change.

My circumstances are unchanged since the budget I agreed with Step Change in August and the amount I can afford to pay beginning in September remains at £xx.  This will be apportioned between my creditors including yourselves as previously.

However pending receipt of the CCA documentation requested from you and my other creditors earlier this week, I am going to temporarily stop payments to you while you locate the necessary CCA paperwork.

I look forward to hearing from you as soon you have concluded your searches for CCA paperwork.

I would also be grateful if you could send me an up to date statement of the outstanding debt together with the details I would need in order to make payments directly to you, rather than via Step Change.  

I request that all correspondence with me is via letter only at the address shown above. 

I have sent a copy of this letter to Step Change also.

Thank you for your assistance.

Yours faithfully,

That reads well to me and I agree you should just go ahead with your SM plans now.   Don't expect PRA to return anything too soon though and don't chase them either.  They took around 8 months before they confirmed they were unable to locate the required documentation, informing me that as such the accounts were UE.  The longer they take the better, because you can then bolster your F&F fund.  But also don't expect them to quickly agree to low discounts either (assuming any turn out to be UE).  I tried that, but they would only offer 10% off at the time, its taken 2+ years to get the discounts to 65% off and I've only now just cleared one which was sub £500 as a result.  PRA do hold out against discounts - so its a case of sitting back and letting things take their course.

Good luck.

BooBoo77

Thanks @Suseka97 That's really helpful.  I'm going to let September's payment go through Step Change as that will be my first with the new budget.  It will allow me to make a note of the apportioned payments and also make sure the DCAs and I will have the paperwork for my new budget etc before I stop payment October onwards for anyone who hasn't returned CCAs (none of which will still be on my credit record by then).  I'll squirrel payments I would have made through Premium Bonds in the meantime, pending F&F discounts.  Thanks again!

DebtHurricane

@SuperFrank88 Really helpful thanks so much 😊