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DMP mutual support thread part 13 !!

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  • Suseka97
    Suseka97 Posts: 1,572 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Hello all. 
    If you have defaulted and are paying off your debt via a self managed DMP, am I right in thinking after 6 years the defaults drop off your credit score and that would then increase? 
    Not looking to add to debt or anything just curious as to what happens? 
    Yes, you will see your 'score' go up - but that means very little (as sourcrates has said).  For example, my OH's credit score is much lower than mine these days, why  - well, that's because he has no credit records.  So his score decreases as a result.  What matters is your credit 'history' and that is what lenders look at, not a meaningless number.  

    When your defaults drop off your file, if you were looking at things like car finance or remortgaging/new mortgage - that's when your credit history comes into play.  So with no defaults you are in a better position than if you had defaults.  
  • So now after receiving the notice of termination from Argos I have now had a letter to say the debt is with Moorcroft and to contact them with any further questions and to arrange payment.... is this now confirmation the debt is defaulted and I can email them and offer my income and expenditure? Sorry for being a pain with all the questions recently! Feel pleased things are moving but also worried as don’t won’t to do anything wrong at this point! TIA
    Current Debt- Jan 2021 - £27500
  • Suseka97
    Suseka97 Posts: 1,572 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    So now after receiving the notice of termination from Argos I have now had a letter to say the debt is with Moorcroft and to contact them with any further questions and to arrange payment.... is this now confirmation the debt is defaulted and I can email them and offer my income and expenditure? Sorry for being a pain with all the questions recently! Feel pleased things are moving but also worried as don’t won’t to do anything wrong at this point! TIA
    I'd still wait until you've been contacted by Moorcroft themselves and check your credit file.  Don't make any payments until you are 100% sure its defaulted and don't take their word for it.  The account on your CRA file will be clearly marked with 'default' and the date it was applied - that's the best evidence you can have.
  • sunshinevicky as suseka says the best thing is to wait until you see it for yourself on your credit files. Then screenshot it as evidence and keep it saved somewhere. I had 2 debts sold on and thought they must have defaulted as I’d received a default notice prior to that. They hadn’t and I’m glad I waited to see the credit file entry as you can always challenge it then as you have proof of the default. 
  • sunshinevicky as suseka says the best thing is to wait until you see it for yourself on your credit files. Then screenshot it as evidence and keep it saved somewhere. I had 2 debts sold on and thought they must have defaulted as I’d received a default notice prior to that. They hadn’t and I’m glad I waited to see the credit file entry as you can always challenge it then as you have proof of the default. 
    Thanks all.... I think I just feel nervous when it says it has been passed on to a collector if I don’t contact them quickly they may end up sending someone to the house.... I will try and hold my nerve though and hope to see the default on my file soon! Thanks again :-) 
    Current Debt- Jan 2021 - £27500
  • sourcrates
    sourcrates Posts: 31,420 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    So now after receiving the notice of termination from Argos I have now had a letter to say the debt is with Moorcroft and to contact them with any further questions and to arrange payment.... is this now confirmation the debt is defaulted and I can email them and offer my income and expenditure? Sorry for being a pain with all the questions recently! Feel pleased things are moving but also worried as don’t won’t to do anything wrong at this point! TIA

    No, Moorcroft just collect debts on behalf of their clients, it won`t have defaulted as yet, sometimes they drag things out unfortunatly.
    They might never default you.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • BooBoo77
    BooBoo77 Posts: 54 Forumite
    Seventh Anniversary 10 Posts Name Dropper
    Hello I’ve now got one response to my CCA request, which is nothing but print outs of credit card statements. I’m guessing there should be more to it? The debt co says that the client will send the agreement and statements so if they’ve just sent the statements then that means they don’t have the agreement, which is good news for me. Would I go back to the debt co and say that they haven’t supplied the agreement so I assume it’s unenforceable or is that moving too fast? Thanks 
  • Suseka97
    Suseka97 Posts: 1,572 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    sunshinevicky as suseka says the best thing is to wait until you see it for yourself on your credit files. Then screenshot it as evidence and keep it saved somewhere. I had 2 debts sold on and thought they must have defaulted as I’d received a default notice prior to that. They hadn’t and I’m glad I waited to see the credit file entry as you can always challenge it then as you have proof of the default. 
    Thanks all.... I think I just feel nervous when it says it has been passed on to a collector if I don’t contact them quickly they may end up sending someone to the house.... I will try and hold my nerve though and hope to see the default on my file soon! Thanks again :-) 
    Okay, you've got to stop overthinking things and I mean that in the nicest way :). No-one is going to rock up to your door - and even if they did, all you would do is tell them to bog off (or more politely to please go away) and shut the door.  Noting soucrates comment about Moorcroft, it looks like you are going to have to hold your nerve a while longer and keep pushing for that default.  If you start paying now you may never get one.
  • So on my crediwise report the account says default balance and gives the amount whereas in others it doesn’t say this.... do you think this is a default??? Is there a better site I should use to check my report? TIA
    Current Debt- Jan 2021 - £27500
  • sourcrates
    sourcrates Posts: 31,420 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    So on my crediwise report the account says default balance and gives the amount whereas in others it doesn’t say this.... do you think this is a default??? Is there a better site I should use to check my report? TIA

    Moorcroft don`t knock on doors, ever, their staff comprises mainly of teenagers who answer phones all day.
    The entry on your credit file, if defaulted, will say "DATE OF DEFAULT" and give a date, if that`s not there, then its not defaulted.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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