DMP mutual support thread part 13 !!

Suseka97

ditty1234 said:

I have now had a letter from Wescot stating thet they know where I live! They are acting on behalf of Natwest, and the balance is unenforceable. I have written Wescot and I think the letters have crossed, so I'm not too concerned but should I be writing Natwest as well? Also I get a phonecall from Wescot everyday, and in my latest and previous letters I have requested to only communicate by post. My decision for now is to not reply to the letter. My first payment to an enforceable debt is in December, I am happy to finally start payments again, after a long tussle of various sorts. But from almost 24.000 I am left with just over 10.000 that I will be trying to pay off, but quite slowly as am still building up my EF. Seems like self managed DMP is coming together after all.

Just to clarify that Wescot do not own the debt, they work as a third party collection agent.   To send a letter stating 'they know where you are' is laughable really - of course they know your address because NW would have given it to them!   If you have had confirmation from NW that the debt is UE (which is no doubt why they palmed it off to Westcot), then write and tell them so and also tell them that all communications are to be dealt with in writing and that if they continue to harass you by phone you will make a complaint to the ICOm but also block their number.

Norfolk_Jim

Now a year into my DMP and about two thirds of my debt is now owned by PRA group. From what I've read through the forum posts it sounds like PRA are not very open to F&F offers. I was hoping that after 4-5 years of DMP when I get some funds from two pensions that start paying out on my 60th birthday I would be able to make some F&F offers to clear my debt off earlier than seeing the DMP through to the bitter end. Any strategies to adopt to make that more of a possibility?

Still suffering badly from depression. I know this thread is the DMP support thread but it appears more of an information / advice thread. Does anyone know of any chat forums where people on DMPs can just find a place to post conversation, ideas etc?

sourcrates

Norfolk_Jim said:

Now a year into my DMP and about two thirds of my debt is now owned by PRA group. From what I've read through the forum posts it sounds like PRA are not very open to F&F offers. I was hoping that after 4-5 years of DMP when I get some funds from two pensions that start paying out on my 60th birthday I would be able to make some F&F offers to clear my debt off earlier than seeing the DMP through to the bitter end. Any strategies to adopt to make that more of a possibility?

Still suffering badly from depression. I know this thread is the DMP support thread but it appears more of an information / advice thread. Does anyone know of any chat forums where people on DMPs can just find a place to post conversation, ideas etc?

Hey, we are quite happy for you to chat or exchange views on here, as long as its DMP related.

As for getting a particular creditor to accept your settlement offer, well that`s where you have to employ cunning.

Don`t assume creditors are stupid, these forums are all public, no doubt a lot of them are read by employees of certain debt purchasing and collection companies, so they will be well aware of the tactics employed in order to obtain good settlement offers.

To crack the toughest nuts, you need to employ a stratagy that involves certain situations that would mean your income drying up, redundancy, illness, major change of circumstances, something that when faced with the choice of either your offer, or the unknown alternative, they go for the offer every time.

It takes careful thought and planning, and sometimes a good deal of streching of the truth, but to get the settlement you want, you have  to be smarter than your enemy, and be able to prove what you say is true if challenged, not always easy, but if you are a little bit creative, its not impossible.

Of course you may be lucky and catch them on a good day, but most of the time you won`t, so think very carefully how you can make this happen for you.

swansea_lad

Anyone else having problems with Ja Ja Finance (was Bank Of Ireland), Bank Of Ireland accepted the offer from Payplan in August 2019, but Ja Ja Finance took over Bank Of Ireland this year, around July time. Now they are saying they have not received payments from Payplan. Payplan have sent them evidence of payment and other documents. They telephoned me twice and wrote 2 letters. Ive ignored them as Payplan have confirmed payments to them.  Anyone else have problems like this?  Thanks

cherokee

I have tried searching for this question but can't find much sorry.
How do I get Next to default on the account?  I have a DMP with Stepchange and have had a lot of problems with Next.  I am sure I read that they do not like to default the account but I would rather this is done.  Do I contact them and ask?  If I stop paying they will load interest on every month as this happened before when I had to pause my SC payment during COVID.  any help at all gratefully received thanks

Suseka97

cherokee said:

I have tried searching for this question but can't find much sorry.
How do I get Next to default on the account?  I have a DMP with Stepchange and have had a lot of problems with Next.  I am sure I read that they do not like to default the account but I would rather this is done.  Do I contact them and ask?  If I stop paying they will load interest on every month as this happened before when I had to pause my SC payment during COVID.  any help at all gratefully received thanks

Sorry to hear this, but there is no magic bullet.  The only way people have managed to encourage those creditors who appear to be quite stubborn re defaults is to stop paying them until they give in and default the account.    This is generally why a lot of folks end up going self-managed - so they can hold off payments from those refusing to default and concentrate on the defaulted accounts - or if the non-defaulted account balance is small in comparison to the rest, pay that one off as quickly as possible.  

I know its a bit late in your situation, but generally the best advice is to stop paying and get the accounts defaulted first; then set up the DMP. 

cherokee

Suseka97 said:

cherokee said:

I have tried searching for this question but can't find much sorry.
How do I get Next to default on the account?  I have a DMP with Stepchange and have had a lot of problems with Next.  I am sure I read that they do not like to default the account but I would rather this is done.  Do I contact them and ask?  If I stop paying they will load interest on every month as this happened before when I had to pause my SC payment during COVID.  any help at all gratefully received thanks

Sorry to hear this, but there is no magic bullet.  The only way people have managed to encourage those creditors who appear to be quite stubborn re defaults is to stop paying them until they give in and default the account.    This is generally why a lot of folks end up going self-managed - so they can hold off payments from those refusing to default and concentrate on the defaulted accounts - or if the non-defaulted account balance is small in comparison to the rest, pay that one off as quickly as possible.  

I know its a bit late in your situation, but generally the best advice is to stop paying and get the accounts defaulted first; then set up the DMP. 

thanks for the advice - should I write to Next and ask them to default the account as I haven't actually done this?

sunshinevicky

Hi quick question... one of my accounts had been passed to Moorcroft ands I agreed a repayment plan with first payment going out this month. The account has also defaulted which is good. However I had an email from Lendable (original creditor) to say they had taken the account back from Moorcroft and was I able to make full or reduced payments. I explained I had agreed the reduced payments with Moorcroft and attached my I&E. They have agreed this but only for 3 months then said I am to contact again if I need the reduced payments to be extended but they may require more documentation from me... is this normal? Seems strange they have taken account back from Moorcroft? 

Suseka97

sunshinevicky said:

Hi quick question... one of my accounts had been passed to Moorcroft ands I agreed a repayment plan with first payment going out this month. The account has also defaulted which is good. However I had an email from Lendable (original creditor) to say they had taken the account back from Moorcroft and was I able to make full or reduced payments. I explained I had agreed the reduced payments with Moorcroft and attached my I&E. They have agreed this but only for 3 months then said I am to contact again if I need the reduced payments to be extended but they may require more documentation from me... is this normal? Seems strange they have taken account back from Moorcroft? 

I can't answer why the OC has taken back the debt - but assume that Moorcroft just act as a 3rd party. I guess they just prefer not to pay them a commission.  Anyway, it doesn't really matter who holds the account - you've put a reduced payment plan in place and I'd just stick to that.  If they come back to you in 3 months time, just send them the same I&E and hold firm on that.  No need to increase the offer, just because they might want you to  

hedboo

Hi. I am new to the Forum so I hope this is the right place to post. I’ve searched but can’t find what I’m after so wanted to ask if anyone had any experience with Consolidation Express for a DMP? I spoke to them on Friday and they were very helpful. However, I want to do my homework before moving forward with them and would like to hear from anyone who’s had dealings with them? 

Thank you.