DMP mutual support thread part 13 !!

sourcrates

cdescort said:

Hey guys 
 Great thread here loads of useful info  im in my first month of a self managed DMP ( previously stepchange ) and have  a couple of questions , . 
1) one of my creditors ( moorcroft )  have accepted my proposal but have stated my payment is due on the 28th of each month !!
the letter the sent was dated the 27th my payday is around the 28th so im concerned that i will forget on occasion to do it the same day  im i obliged to make this date or can i specify my own ?

Moorcroft are not a creditor, they are just collectors, they no longer buy debts, they are just managing the account for the original creditor, so basically pay what you want, when you want, you tell them how it goes down, not the other way around.

First lesson of debt mangement, is take control.

sunshinevicky

Hi all.... so I’ve received my first notice of default from one creditor (Vanquis).... I’m feeling strangely happy about this!!! It’s states if I do not take action by 16th September they may issue a default....Just a quick question I have my income and expenditure and offer of payment ready to send... should I send this straight away or should I wait till after the 16th? I’m just worried if I don’t send it then come 17th I will have someone knocking on the door .... which I feel like is an irrational thought but just wanted to check as Aldi don’t want to send my offer in tomorrow and then they don’t issue the threatened default???? Thanks in advance you lovely lot!

DebtHurricane

Ignore them sunshinevicky, so they follow through with the default. Contacting them now will likely stop the default going on. I had a notice of default in the post from a catalogue in January, they’re still refusing to actually put the default on my credit file!

sunshinevicky

DebtHurricane said:

Ignore them sunshinevicky, so they follow through with the default. Contacting them now will likely stop the default going on. I had a notice of default in the post from a catalogue in January, they’re still refusing to actually put the default on my credit file!

Thanks for this.... can I ask have you had collectors at your house or an increase in letters due to ignoring it? My husband isn’t aware of my situation and I think this is the part that worries me as I couldn’t hide it if I had collection agents at the door! I know for mist the simple option is to be honest and tell him and I wish I could but I know he would not understand and I’m not sure he would be able to forgive me for getting in this situation! X

DebtHurricane

Not at all. And I understand why this is making you anxious but honestly no one will turn up at your door trust me. The most they’ll do is send letters. I was in debt back in 2014 (you’d think I’d learned my lesson by now!) and I ignored my debts for 2 years and no one ever came to my house. Bear in mind the pandemic also means that they certainly wouldn’t be able to justify knocking on people’s doors, but they wouldn’t do that on a normal day anyway let alone in the midst of coronavirus. 

You don’t have anything to worry about- they’ll more than likely default you if you ignore them. I had 6 creditors who hadn’t defaulted me and in April I was so fed up and just wanted to start paying them off. But I waited, and now 3 more of these have defaulted so it’s worth ignoring them! Good luck x

Remus1975

sunshinevicky - don't worry, you will not get anybody knocking at your door. I stopped my payments in March in order to get the accounts defaulted and all I've received is letters. No phone calls and definitely nobody knocking on the door

sourcrates

sunshinevicky said:

Thanks for this.... can I ask have you had collectors at your house or an increase in letters due to ignoring it?

Vicky, get a grip !!

Your debt is not even with any collectors yet, still with the original creditor yes, the default process is automated, all generated by computer, no human has a hand in it.

1000`s of accounts default all the time, whose going to be knocking on your door, suzi from accounts ? john who makes the tea ?

You think someone is actually watching the clock tick down until your account defaults, then they jump in a car, drive 200 miles to your house, then knock on your door and ask you why you`ve not paid your credit card ?

How long would that company be in buisness for, not long, vicky its nothing like that, the default process has to be followed through because the consumer credit act says so, its a legal requirement in order for the company to demand formal full payment from you.

Of course they can demand what they like, once defaulted then collector`s become involved, but they work from call centres vicky, and use the phone and the post to contact people, imagine having to knock on the doors of the thousands of account holders who default on their debts every year, its just not feasable or cost effective.

To my knowledge, only one major DCA still employs field agents to knock on doors, and that`s resolvecall, of course there may be others, smaller, more local outfits, but all are just self employed folk who mainly work on commision, no power of entry, no powers at all, no more than you or I have, so hopefully this has put things in perspective for you.

sunshinevicky

sourcrates said:

sunshinevicky said:

Thanks for this.... can I ask have you had collectors at your house or an increase in letters due to ignoring it?

Vicky, get a grip !!

Your debt is not even with any collectors yet, still with the original creditor yes, the default process is automated, all generated by computer, no human has a hand in it.

1000`s of accounts default all the time, whose going to be knocking on your door, suzi from accounts ? john who makes the tea ?

You think someone is actually watching the clock tick down until your account defaults, then they jump in a car, drive 200 miles to your house, then knock on your door and ask you why you`ve not paid your credit card ?

How long would that company be in buisness for, not long, vicky its nothing like that, the default process has to be followed through because the consumer credit act says so, its a legal requirement in order for the company to demand formal full payment from you.

Of course they can demand what they like, once defaulted then collector`s become involved, but they work from call centres vicky, and use the phone and the post to contact people, imagine having to knock on the doors of the thousands of account holders who default on their debts every year, its just not feasable or cost effective.

To my knowledge, only one major DCA still employs field agents to knock on doors, and that`s resolvecall, of course there may be others, smaller, more local outfits, but all are just self employed folk who mainly work on commision, no power of entry, no powers at all, no more than you or I have, so hopefully this has put things in perspective for you.

Thank you! Thank you all! I know I’m being over anxious. Some days I feel like I’ve got this and I feel great I’m actually trying to get in top of my situation and then other days I go into these mini panic modes.... but this forum really has been my life saver! Thank you!!! X

Headabovethewater

We have 2 defaults now, 1 of which now showing on clearscore, March when payments stopped.  Others warning of but haven't yet.  I've started putting income/outgoings into nedcab so begin to look at how and what to offer the defaulted ones.  Problem is I'm employed (furloughed) and hubby self employed- nedcab don't seem to have a section for business outgoings. Has anyone any experience of this I thought doing in as a couple would make it easier to deal with. No business debts its all cc's in personal name.  Stepchange were helpful but we owe too much for hubby's age to fit in there time frame of paying off so they suggested doing self managed.

Any advice greatly receiced on how to show income/expenditure.  Do I have it correct we don't actually send proof of income? Though I want to be honest.

sourcrates

Proof of income, good grief no, you should only give debt collectors/creditors the most basic information you can about your circumstances where debt management is concerned, a budget/expenditure sheet is perfectly adequate.

These people are not your freinds, and self mangement is a brilliant way for you to take control of the situation at hand, you make the rules, you make the decisions, you dont go looking for acceptance of any of it, if they don`t like it, they sell the debt on, then its rinse and repeat.

You have to show strength to avoid been walked all over.