DMP mutual support thread part 13 !!

sourcrates

natlie said:

Help please

My Paypa@l debt has been transferred to Mo0rcr0ft reading about them online they sound terrifying! i really don't want anyone calling to the house. Does anyone have any experience with them? Ive had no letters from them yet I've found out about this via Step Change

Thanks
Nat 

Relax Nat,

Moorcroft are just 3rd party collectors, terrifying is not a word i would use to describe them lol, just a bunch of kids in a call centre playing with the phones, thats all they are, they don`t own your debt, Paypal do, so moorcroft are irrelivant.

No one will be knocking on your door, what on earth gave you that idea ?

Most DCA`s work out of call centres, inc Moorcroft, also due to COVID-19, no one will be knocking on anyones door anytime soon, even bailiffs are no longer entering private property.

I don`t really see why your fussing, i assume this is a part of your DMP, so stepchange will just pay Moorcroft, until they get tired, and hand it back to Paypal, you don`t have to deal with anything.

natlie

sourcrates said:

natlie said:

Help please

My Paypa@l debt has been transferred to Mo0rcr0ft reading about them online they sound terrifying! i really don't want anyone calling to the house. Does anyone have any experience with them? Ive had no letters from them yet I've found out about this via Step Change

Thanks
Nat 

Relax Nat,

Moorcroft are just 3rd party collectors, terrifying is not a word i would use to describe them lol, just a bunch of kids in a call centre playing with the phones, thats all they are, they don`t own your debt, Paypal do, so moorcroft are irrelivant.

No one will be knocking on your door, what on earth gave you that idea ?

Most DCA`s work out of call centres, inc Moorcroft, also due to COVID-19, no one will be knocking on anyones door anytime soon, even bailiffs are no longer entering private property.

I don`t really see why your fussing, i assume this is a part of your DMP, so stepchange will just pay Moorcroft, until they get tired, and hand it back to Paypal, you don`t have to deal with anything.

Hi @sourcrates

I had a look into them online and there were loads of posts stating that hey would try to enter your property etc.

I don’t really understand why they are involved as although I am in DMP I am up to date with my payments and am actually paying more that my required monthly payment due to the way SC allocate the payment 

Thanks
Nat

Suseka97

natlie said:

sourcrates said:

natlie said:

Help please

My Paypa@l debt has been transferred to Mo0rcr0ft reading about them online they sound terrifying! i really don't want anyone calling to the house. Does anyone have any experience with them? Ive had no letters from them yet I've found out about this via Step Change

Thanks
Nat 

Relax Nat,

Moorcroft are just 3rd party collectors, terrifying is not a word i would use to describe them lol, just a bunch of kids in a call centre playing with the phones, thats all they are, they don`t own your debt, Paypal do, so moorcroft are irrelivant.

No one will be knocking on your door, what on earth gave you that idea ?

Most DCA`s work out of call centres, inc Moorcroft, also due to COVID-19, no one will be knocking on anyones door anytime soon, even bailiffs are no longer entering private property.

I don`t really see why your fussing, i assume this is a part of your DMP, so stepchange will just pay Moorcroft, until they get tired, and hand it back to Paypal, you don`t have to deal with anything.

Hi @sourcrates

I had a look into them online and there were loads of posts stating that hey would try to enter your property etc.

I don’t really understand why they are involved as although I am in DMP I am up to date with my payments and am actually paying more that my required monthly payment due to the way SC allocate the payment 

Thanks
Nat

Most original creditors sell debts on, or transfer them to a 3rd party to collect - because eventually for its no longer worth the bother.  It really doesn't matter who owns or collects, you just need to update SC so the payment goes to who it should.  As has been said, they won't come knocking on your door - its just a paperwork exercise.  Ignore whatever you've been reading online.

Suseka97

scrimpandsave said:

Hello All,
Hopefully I am in the right place. Myself and husband have roughly 20k debt. We are paying it, but struggle which can mean using credit when the car breaks or the boiler breaks etc as the money does not exist.

 I have looked in to a DMP tonight and have some questions for all you pros. Hope there is no such thing as a stupid question...

My main question is will doing a DMP knacker up my credit score? My debt to income ratio is already horrendous so I can’t get any credit anyway but my score is perfect. 

Second question is, I am looking at stepchange to help me do this. Do they speak to the creditors or do I. 

Third question is how are you all finding it? Do you feel like you can breathe again and is your debt now truly managed? I really want to sort things out, determined after the year we have all had to have a more positive and frugal tomorrow so I can get this weight off my shoulders.

Thank you to anyone who has any advice for me.
Should maybe add that our joint income is close in number to our debt 😬

A credit score means absolutely nothing to anyone other than you - what matters to creditors is your credit history and how you manage your financial affairs.   So at the moment, that's the last thing you should be concerned about.  StepChange will handle all the communications, but it won't harm for you to contact them and let them know you are struggling financially and seeking advice from SC.   

Do take time to read back on this thread, there's a lot of very useful information contained within and it'll help you understand the process.

sourcrates

natlie said:

sourcrates said:

natlie said:

Help please

My Paypa@l debt has been transferred to Mo0rcr0ft reading about them online they sound terrifying! i really don't want anyone calling to the house. Does anyone have any experience with them? Ive had no letters from them yet I've found out about this via Step Change

Thanks
Nat 

Relax Nat,

Moorcroft are just 3rd party collectors, terrifying is not a word i would use to describe them lol, just a bunch of kids in a call centre playing with the phones, thats all they are, they don`t own your debt, Paypal do, so moorcroft are irrelivant.

No one will be knocking on your door, what on earth gave you that idea ?

Most DCA`s work out of call centres, inc Moorcroft, also due to COVID-19, no one will be knocking on anyones door anytime soon, even bailiffs are no longer entering private property.

I don`t really see why your fussing, i assume this is a part of your DMP, so stepchange will just pay Moorcroft, until they get tired, and hand it back to Paypal, you don`t have to deal with anything.

Hi @sourcrates

I had a look into them online and there were loads of posts stating that hey would try to enter your property etc.

I don’t really understand why they are involved as although I am in DMP I am up to date with my payments and am actually paying more that my required monthly payment due to the way SC allocate the payment 

Thanks
Nat

Creditors aren`t equiped to deal with 1000`s of customers in debt management, so they don`t keep bad debt on their books for very long, they don`t have the resourses to manage the thousands of accounts that default each year, so they either, engage a debt collector to manage the debt for them, or they sell it on to a debt purchasing company such as Lowell/Cabot/PRA Group etc, and wash their hands of it. It appears Moorcroft have started buying debts now also, it will clearly state in the letters they send, if they have bought the debt, or if they are just acting on behalf of their client.

Another thing, they will most probebley not be aware of events prior to them becoming involved, so may not know about the DMP you have in place, which is why you/and/or stepchange, should write and tell them (A) about the DMP arrangement, (B) how much they will be getting, and (C) when.

Once the DMP payments are in place, everything will settle down again.

One thing to remember - THEY ARE NOT BAILIFFS, and not even a bailiff can force entry to private property under normal circumstances, so should doorstep collector man or woman attempt this, that is trespass, and you should dial 999 and ask for the police.

I have seen some references to "doorstep collectors" (self employed collectors paid on a commision basis) online and Moorcrofts name banded about, nothing to be afraid of, its common law, if anybody knocks on the door you do not have to deal with them, they arrive on a commission or delivery basis, they either do one or the other, they have no more power than you or I do, just ask them to shut the gate on the way out, end of, just another tactic to harass you.

If Moorcroft representatives ever did bother to visit, which is unlikely, especially now due to COVID-19, just say no thank you, I'll only deal with Moorcroft by post.

CAL2727

Hi Everybody! Have been lurking for about a week after I first heard of a DMP and have been reading my way through this forum, has some excellent support and tips! Going by the advice of those on here I have cancelled payments for my accounts this week and hoping this will help me get defaulted quicker. I’m ashamed to say I have around £28000 of debt and have no idea how I even got to this point. I have a mortgage on a fixed rate until 2023 which has a decent follow on rate if I couldn’t get another fixed rate so I am not worried about that. Am I doing the right thing in cancelling my direct debits etc and not contacting creditors off the bat in the hope they will default? I then plan to start the DMP 6 months + down the line once I have an emergency fund / see what the creditors come back with etc. I was just looking at one of my loans and it states that if not paid it can cause a charging order against the house, I take it this is highly unlikely? I am also wondering do many people get pestered with phone calls? Can deal with the post but I’m just hoping nobody starts to call my parents house (we don’t have a landline, their landline number would’ve been associated with my main account but I have since removed it) they don’t know about the debt and would like to keep it that way! Would it be worth writing to this creditor and asking for correspondence in writing only? My partner knows and is supportive which is good. I have also set up a new bank account as old account is associated with a lot of the debt, have transferred all the money over and in the process of changing direct debits over today! Any help or advice would be greatly appreciated 😀👍🏼 

CAL2727

CAL2727 said:

Hi Everybody! Have been lurking for about a week after I first heard of a DMP and have been reading my way through this forum, has some excellent support and tips! Going by the advice of those on here I have cancelled payments for my accounts this week and hoping this will help me get defaulted quicker. I’m ashamed to say I have around £28000 of debt and have no idea how I even got to this point. I have a mortgage on a fixed rate until 2023 which has a decent follow on rate if I couldn’t get another fixed rate so I am not worried about that. Am I doing the right thing in cancelling my direct debits etc and not contacting creditors off the bat in the hope they will default? I then plan to start the DMP 6 months + down the line once I have an emergency fund / see what the creditors come back with etc. I was just looking at one of my loans and it states that if not paid it can cause a charging order against the house, I take it this is highly unlikely? I am also wondering do many people get pestered with phone calls? Can deal with the post but I’m just hoping nobody starts to call my parents house (we don’t have a landline, their landline number would’ve been associated with my main account but I have since removed it) they don’t know about the debt and would like to keep it that way! Would it be worth writing to this creditor and asking for correspondence in writing only? My partner knows and is supportive which is good. I have also set up a new bank account as old account is associated with a lot of the debt, have transferred all the money over and in the process of changing direct debits over today! Any help or advice would be greatly appreciated 😀👍🏼 

Did anyone have issues with renewing car insurance during DMP? Or is it a customer retention kind of scenario? Sorry for all the qs just thinking of consequences - regardless it badly needs to happen 😬

Suseka97

CAL2727 said:

CAL2727 said:

Hi Everybody! Have been lurking for about a week after I first heard of a DMP and have been reading my way through this forum, has some excellent support and tips! Going by the advice of those on here I have cancelled payments for my accounts this week and hoping this will help me get defaulted quicker. I’m ashamed to say I have around £28000 of debt and have no idea how I even got to this point. I have a mortgage on a fixed rate until 2023 which has a decent follow on rate if I couldn’t get another fixed rate so I am not worried about that. Am I doing the right thing in cancelling my direct debits etc and not contacting creditors off the bat in the hope they will default? I then plan to start the DMP 6 months + down the line once I have an emergency fund / see what the creditors come back with etc. I was just looking at one of my loans and it states that if not paid it can cause a charging order against the house, I take it this is highly unlikely? I am also wondering do many people get pestered with phone calls? Can deal with the post but I’m just hoping nobody starts to call my parents house (we don’t have a landline, their landline number would’ve been associated with my main account but I have since removed it) they don’t know about the debt and would like to keep it that way! Would it be worth writing to this creditor and asking for correspondence in writing only? My partner knows and is supportive which is good. I have also set up a new bank account as old account is associated with a lot of the debt, have transferred all the money over and in the process of changing direct debits over today! Any help or advice would be greatly appreciated 😀👍🏼 

Did anyone have issues with renewing car insurance during DMP? Or is it a customer retention kind of scenario? Sorry for all the qs just thinking of consequences - regardless it badly needs to happen 😬

If it were me, I would write to all my creditors to let them know I was experiencing financial difficulty and seeking advice from one of the debt charities.  At least that way they don't just assume you've decided to stop paying with no good reason.  You can then just hold them off until you are ready to start the DMP.  You should tell them that you will only deal with matters in writing and do insist they remove your parent's telephone number - be prepared that they may well still receive some calls.  

As for car insurance, you could be okay, I have to admit I don't have a car, so never had that issue but I did manage to remortgage (with existing lender) onto a more favourable fixed term and changed utility providers whilst on a DMP.  If you think about it, when it comes to insurance - if you stop paying they will stop insuring you (so they don't lose out).  I guess the only possibility is they 'might' ask you to pay upfront rather than monthly - but if you had to do that you could vary your DMP payment for one month (or two) if needed.

sourcrates

CAL2727 said:

I was just looking at one of my loans and it states that if not paid it can cause a charging order against the house, I take it this is highly unlikely?

Its not a secured loan is it ?

Because if it is, you must maintain payments.

If it isn`t, then they just inform you of worse case senario.

People have been insolvent and never once had trouble getting any kind of insurance on a pay monthly basis, so you should be fine.

alxofn1

Good evening all. 

My DMP began this month, and my first direct debit went out to StepChange. One of my many creditors, an overdraft of £500 with TSB, were offered about £10.85 or so a month - an offer which they rejected. I know StepChange would still pay them even if they rejected this offer. However today I noticed a credit from StepChange (under their full title Foundation for Credit Counselling) of £10.85 which is undoubtedly the part of the DMP payment that was allocated to TSB.

What complicates things is this: TSB was my primary account for salary payments and direct debits, however as part of the DMP set-up I opened a safe account. My salary should have gone into this new account this month but payroll made a mistake at work and this salary payment went into my TSB account. As I was/am perennially overdrawn on that account I am now effectively "using" that line of credit (the overdraft) even though I know one is not supposed to use the credit they have DMPs for. I've fixed this so that future salary goes to and only to my new safe account. 

I have sent an e-mail to StepChange about this but in the meantime does anyone know (a) why a payment would be returned via StepChange back to me? and (b) how this might/would affect my ongoing plan to pay this creditor?