DMP mutual support thread part 13 !!

natlie

alxofn1 
I have got PP Credit in my DMP I’ve been paying them for 7 months. The cheques take a month to clear I also received a couple of late fees in the first few months. They also withheld one cheque for 5 months I believe this was to increase me overdue payments so that they could force my account closure. My account was closed about 7 weeks after my DMP started. They did this by making it look like fraudulent activity had taken place - what was a bit scary I spoke to them on the phone about it.

I lost all access to my normal PayPal account and can no longer use EBay.

They have been a bit frustrating to deal with. My account has now been passed to Moorcroft but the payment still seems to be made direct to PP 

My payments are currently all up to date and I don’t receive late payments anymore 

Nat

Hello all.
Hoping to get any advice or input. 
PayPal are one of my creditors and StepChange as part of my DMP advised me they sent them a cheque - as was requested by PayPal - to make my monthly payment. However the cheque doesn't appear to have registered on the system, and so PayPal have now added a late penalty fee to my account balance - they've just called me and said the same. I'm not quite sure what to do - I would imagine the advice would be to not pay them anything further (my next DMP payment goes out in a few days). I e-mailed SC and am waiting for their reply, but given the holidays it might be a while. 

Any thoughts?

Thanks!

Pelerroja

Hi everyone - VERY new here so please bear with me! Looking forward to being one of those folks who can talk about DMP changing their lives but at the moment me and my husband are in the very early stages of setting one up with SC and it all seems very overwhelming.  I’m both embarrassed and relieved. We have been switching around debt for so long and we have around 20K spread across so many different creditors I could no longer keep track. I have anxiety and depression which can mean I struggle with concentration and memory - not to mention being able to engage with life more generally - so it’s been difficult.

T
his thread is great, so supportive and I’m really grateful it exists. I have a couple of questions I wondered if you could give me your ideas about. Firstly, we haven’t officially defaulted on any of our accounts, a couple are maybe one payment behind but that’s it. I’m just about to send out breathing space letters - presuming thst’s all ok? Or is it better to default and then go on dmp? How long does “breathing space” usually last? How much time should I ask for?

Some of our debt is with two energy providers, one of which I pay via direct debit (combined usage and payment towards arrears). Do we need to leave them so I can stop this payment?

finally, the thought of endless chasing calls and emails makes me panic. I wondered if it was worth setting up an email and getting a payg sim and updating all accounts to these details so the calls aren't going to my main mobile?

thanks in advance🙂

Fidelia

 sourcrates

In reply to someone mentioning that their credit score was 'perfect' but they had used all their available credit (I think that was what it was about) you said:
_________________________________________________________________________
Hi,

Credit score is meaningless, just another marketing gimmick to sell you stuff, your score may be "perfect" but only you see it.

_________________________________________________________________________

Could you explain what you meant, please?  Did you mean that when anyone but ourselves makes a search at a CRA they just see our debt/payment history and NO current credit score?

Thanks for your time, you're always such a mine of information for people on this thread.

Suseka97

Fidelia said:

 sourcrates

In reply to someone mentioning that their credit score was 'perfect' but they had used all their available credit (I think that was what it was about) you said:
_________________________________________________________________________
Hi,

Credit score is meaningless, just another marketing gimmick to sell you stuff, your score may be "perfect" but only you see it.

_________________________________________________________________________

Could you explain what you meant, please?  Did you mean that when anyone but ourselves makes a search at a CRA they just see our debt/payment history and NO current credit score?

Thanks for your time, you're always such a mine of information for people on this thread.

Basically the score that you see is simply a sort of benchmark for your info only and it's not what lenders see when making decisions about your credit worthiness.

Each lender has their own in-house criterion when it comes to their lending decisions, but having late payment markers, arrangements to pay, defaults or CCJs as part of your credit history is what counts.   Also your current level of borrowing (credit utilisation) and income levels (affordability) are taken into account.

So the credit score means nothing when it comes to a lender's decision.

Dixie80

'm in the first month of my DMP with Payplan. This morning I have received a number of letters from Natwest.  I had two current accounts, and two loans with them.     They have sent three formal notifications of intention to file a default and take action to recover the debt, with demands to repay overdrafts on the current accounts, and demands to pay arrears on the loans.  Lots of big, bold shouty fonts telling me that they may take me to court and to consider a solicitor or Citizens Advice.   Then a fourth letter, which is a copy of the letter that they have sent to Payplan which acknowledges the request to make nominal payments, and that they will stop service charges, make the accounts non-operational, and issue default and formal demand notices but that it "does not affect our commitment to be sympathetic to your client's position". 
As I'm a clueless DMP newbie, this is what I want, isn't it?   The big shouty letters are a necessary part of the process, but what I really want them to do is make the accounts non-operational, default them, and sell them on?
Sorry for any stupid questions!

motivated

Morning all

i have 2 very large loans with Halifax that have been managed by Wescot for a long time now.  I have just received letters from Intrum saying I need to pay this company  now.   My question is have they purchased the loans now do you think?

Also I have recently put a complaint in about irresponsible lending (I know some will say irresponsible borrowing so please be kind) I'm wondering if this has sparked them to sell me on so to speak 
any advice please or has anyone had any dealings with Intrum. 
M

Suseka97

Dixie80 said:

'm in the first month of my DMP with Payplan. This morning I have received a number of letters from Natwest.  I had two current accounts, and two loans with them.     They have sent three formal notifications of intention to file a default and take action to recover the debt, with demands to repay overdrafts on the current accounts, and demands to pay arrears on the loans.  Lots of big, bold shouty fonts telling me that they may take me to court and to consider a solicitor or Citizens Advice.   Then a fourth letter, which is a copy of the letter that they have sent to Payplan which acknowledges the request to make nominal payments, and that they will stop service charges, make the accounts non-operational, and issue default and formal demand notices but that it "does not affect our commitment to be sympathetic to your client's position". 
As I'm a clueless DMP newbie, this is what I want, isn't it?   The big shouty letters are a necessary part of the process, but what I really want them to do is make the accounts non-operational, default them, and sell them on?
Sorry for any stupid questions!

Yes, defaults in this situation is what you are seeking.  The sooner the default, the quicker interest and charges stop and you move into that 6 year timeframe from which the defaults will fall from your credit files.  The former is the more important aspect of defaults IMHO.

The 'shouty' letters are unfortunately a necessary aspect of debt collection - although I'm aware that there are calls for these letters to be toned down and the use of bold scripts and threats of court action to be removed.  That said, you can just ignore them - they are generally computer generated rubbish that gets churned out by their computers when you account/s go into arrears.  Your DMP is now up and running and that's all that matters.  

Those letters will tail off and eventually cease and all you should expect to receive will be annual statements and sometimes they'll contact you to remind you that an annual review of your financial position is imminent or due.  Again you can ignore this because PP will take care of that.

Suseka97

motivated said:

Morning all

i have 2 very large loans with Halifax that have been managed by Wescot for a long time now.  I have just received letters from Intrum saying I need to pay this company  now.   My question is have they purchased the loans now do you think?

Also I have recently put a complaint in about irresponsible lending (I know some will say irresponsible borrowing so please be kind) I'm wondering if this has sparked them to sell me on so to speak 
any advice please or has anyone had any dealings with Intrum. 
M

Hi M, I've been noticing on this forum that Westcot have been handing over accounts to Intrum, so I think its just a business decision they've made.  Westcot just collect for Hfx, so maybe Hfx has now sold the accounts on (might be something to do with the age of the debt etc.)  It won't have anything to do with you raising a complaint.

I can't recall if you are self-managing or with one of the debt charities - but you just need to amend your payment details and start paying over to Intrum.

motivated

Thankyou Suseka 

I am self managing 
The letter says that they Intrum have purchased the debts but I need to continue paying wescot.   

I'm assuming they've purchased at a much lower amount so may be up for F&Fs along the way
thanks again
x

Suseka97

motivated said:

Thankyou Suseka 

I am self managing 
The letter says that they Intrum have purchased the debts but I need to continue paying wescot.   

I'm assuming they've purchased at a much lower amount so may be up for F&Fs along the way
thanks again
x

Ah. That's interesting.  So Intrum have purchased Hfx debt accounts and as you say, they'd have paid pennies to the £ so definitely worth going down the F&F route at some point. Good luck with that