DMP mutual support thread part 13 !!

ditty1234

Penguin_ said:

moonlock said:

Hello all,
Been reading here for almost a year since I started a DMP with SC. Looking for a little advice please? 

I have debts totalling just over 50k and with SC I’ll be debt free around Feb 2033!  I have a mortgage that will end a couple of years before that all being well. 
Most of my debts have now defaulted except for a couple that have arrangement to pay. I’ve noticed that a couple of Credit card accounts were opened back in 2002 and 2008. I’m starting to wonder if going self managed might be the best way forward and send some CCA requests off to these old accounts. My husband is a little reluctant to leave SC. Any advice would be much appreciated. 
Thank you

I, like you, was with SC until very recently. I went self managed following the advice on here, mainly due to the amazing advice that Sourcrates gives, & I immediately informed all my creditors that I was doing this & sent off CCA requests. I am keeping everything the same in terms iof payments but all are aware that the payments will re-start following the receipt of the CCA. It seems a huge step to do but you are in more control when going self managed.

I am just writing to agree with all of the above,  my finances crashed early 2019 andI was with sc for a year and then went self managed. My last account defaulted in January and  active debt have gone from 24.000 to under 10.000. The 14000 was on old credit cards, one is unenforceable and one is on hold so I am not paying into them. One of them have offered a 65% discount, but while that is amazing, I don't still have the money for a F and F otherwise I would get it out of the way. 
You need to keep a clear log of all balances and status and addresses when you go self managed, but it just becomes part of you monthly checkups. I have everything set up as standing orders - and the smaller one I pay extra money into when I can as it will paying out no matter what. Good luck.

Penguin_

ditty1234 said:

Penguin_ said:

moonlock said:

Hello all,
Been reading here for almost a year since I started a DMP with SC. Looking for a little advice please? 

I have debts totalling just over 50k and with SC I’ll be debt free around Feb 2033!  I have a mortgage that will end a couple of years before that all being well. 
Most of my debts have now defaulted except for a couple that have arrangement to pay. I’ve noticed that a couple of Credit card accounts were opened back in 2002 and 2008. I’m starting to wonder if going self managed might be the best way forward and send some CCA requests off to these old accounts. My husband is a little reluctant to leave SC. Any advice would be much appreciated. 
Thank you

I, like you, was with SC until very recently. I went self managed following the advice on here, mainly due to the amazing advice that Sourcrates gives, & I immediately informed all my creditors that I was doing this & sent off CCA requests. I am keeping everything the same in terms iof payments but all are aware that the payments will re-start following the receipt of the CCA. It seems a huge step to do but you are in more control when going self managed.

I am just writing to agree with all of the above,  my finances crashed early 2019 andI was with sc for a year and then went self managed. My last account defaulted in January and  active debt have gone from 24.000 to under 10.000. The 14000 was on old credit cards, one is unenforceable and one is on hold so I am not paying into them. One of them have offered a 65% discount, but while that is amazing, I don't still have the money for a F and F otherwise I would get it out of the way. 
You need to keep a clear log of all balances and status and addresses when you go self managed, but it just becomes part of you monthly checkups. I have everything set up as standing orders - and the smaller one I pay extra money into when I can as it will paying out no matter what. Good luck.

Quick question in relation to the ones which are un-enforceable, how do they work? I know you don't pay without the CCA but after the default drops off (after the 6 years) does it show as a debt on your credit report?

sourcrates

Penguin_ said:

ditty1234 said:

Penguin_ said:

moonlock said:

Hello all,
Been reading here for almost a year since I started a DMP with SC. Looking for a little advice please? 

I have debts totalling just over 50k and with SC I’ll be debt free around Feb 2033!  I have a mortgage that will end a couple of years before that all being well. 
Most of my debts have now defaulted except for a couple that have arrangement to pay. I’ve noticed that a couple of Credit card accounts were opened back in 2002 and 2008. I’m starting to wonder if going self managed might be the best way forward and send some CCA requests off to these old accounts. My husband is a little reluctant to leave SC. Any advice would be much appreciated. 
Thank you

I, like you, was with SC until very recently. I went self managed following the advice on here, mainly due to the amazing advice that Sourcrates gives, & I immediately informed all my creditors that I was doing this & sent off CCA requests. I am keeping everything the same in terms iof payments but all are aware that the payments will re-start following the receipt of the CCA. It seems a huge step to do but you are in more control when going self managed.

I am just writing to agree with all of the above,  my finances crashed early 2019 andI was with sc for a year and then went self managed. My last account defaulted in January and  active debt have gone from 24.000 to under 10.000. The 14000 was on old credit cards, one is unenforceable and one is on hold so I am not paying into them. One of them have offered a 65% discount, but while that is amazing, I don't still have the money for a F and F otherwise I would get it out of the way. 
You need to keep a clear log of all balances and status and addresses when you go self managed, but it just becomes part of you monthly checkups. I have everything set up as standing orders - and the smaller one I pay extra money into when I can as it will paying out no matter what. Good luck.

Quick question in relation to the ones which are un-enforceable, how do they work? I know you don't pay without the CCA but after the default drops off (after the 6 years) does it show as a debt on your credit report?

No, nothing shows after 6 years.

Eventually they become statute barred.

alxofn1

Hello all, I'm trying to wrap my head around a letter from one of my creditors. It concerns an MBNA card for which I currently have a balance of around £6136.02 on; I'm in a DMP plan which pays approximately £85 a month to this particular debt. I've received a default notice from the creditor informing me of the full balance i.e. £6136 but also an Arrears of £61.36; I cannot understand how they've come to this arrears amount - and the letter itself goes on to say that I am in breach of my credit agreement and need to pay the 61.36 by a certain date to avoid enforcement action. Does this sound like a normal kind of letter? I'm just a bit puzzled as to how a comparatively small amount is being flagged up on this letter, when I have been making payments monthly via my DMP towards this debt since December 2020 now.  

Weimsrock

alxofn1 said:

Hello all, I'm trying to wrap my head around a letter from one of my creditors. It concerns an MBNA card for which I currently have a balance of around £6136.02 on; I'm in a DMP plan which pays approximately £85 a month to this particular debt. I've received a default notice from the creditor informing me of the full balance i.e. £6136 but also an Arrears of £61.36; I cannot understand how they've come to this arrears amount - and the letter itself goes on to say that I am in breach of my credit agreement and need to pay the 61.36 by a certain date to avoid enforcement action. Does this sound like a normal kind of letter? I'm just a bit puzzled as to how a comparatively small amount is being flagged up on this letter, when I have been making payments monthly via my DMP towards this debt since December 2020 now.  

Yes this is normal. I’m assuming this debt has not yet defaulted. This is them writing to let you know that the account is reaching an arrears level that and your account is about to go into default. Assuming your DMP is due to last longer than 6 years then you should welcome the default as it will ensure no more interest or charges will be applied. If however, and only if you think you can clear the balance in the next couple of years then you may want to think about bringing the account up to date to avoid the default. Don’t panic no bailiffs are going to turn up because of this letter 

alxofn1

Weimsrock said:

alxofn1 said:

Hello all, I'm trying to wrap my head around a letter from one of my creditors. It concerns an MBNA card for which I currently have a balance of around £6136.02 on; I'm in a DMP plan which pays approximately £85 a month to this particular debt. I've received a default notice from the creditor informing me of the full balance i.e. £6136 but also an Arrears of £61.36; I cannot understand how they've come to this arrears amount - and the letter itself goes on to say that I am in breach of my credit agreement and need to pay the 61.36 by a certain date to avoid enforcement action. Does this sound like a normal kind of letter? I'm just a bit puzzled as to how a comparatively small amount is being flagged up on this letter, when I have been making payments monthly via my DMP towards this debt since December 2020 now.  

Yes this is normal. I’m assuming this debt has not yet defaulted. This is them writing to let you know that the account is reaching an arrears level that and your account is about to go into default. Assuming your DMP is due to last longer than 6 years then you should welcome the default as it will ensure no more interest or charges will be applied. If however, and only if you think you can clear the balance in the next couple of years then you may want to think about bringing the account up to date to avoid the default. Don’t panic no bailiffs are going to turn up because of this letter 

Thank you. Interestingly, I noticed that a letter I had received advising a missed payment on the card in January 2021 advised an amount due of 66.41, and then this arrears letter which is entitled " Default Notice Served under section etc etc" states an arrears of £61.36 - so I am not sure if this is a default notice; it then goes on to threaten the various legal things i.e. demanding immediate payment, being taken to court etc which is all very scarily worded . My understanding is that StepChange have been taking my DMP DD, and sending £85 to this particular account each month - although my understanding of course is that DMP payments do not adhere to any "payment due dates" like a regular credit card bill payment would do they? i.e. they are just credited to the balance each month as and when. 

Penguin_

sourcrates said:

Penguin_ said:

ditty1234 said:

Penguin_ said:

moonlock said:

Hello all,
Been reading here for almost a year since I started a DMP with SC. Looking for a little advice please? 

I have debts totalling just over 50k and with SC I’ll be debt free around Feb 2033!  I have a mortgage that will end a couple of years before that all being well. 
Most of my debts have now defaulted except for a couple that have arrangement to pay. I’ve noticed that a couple of Credit card accounts were opened back in 2002 and 2008. I’m starting to wonder if going self managed might be the best way forward and send some CCA requests off to these old accounts. My husband is a little reluctant to leave SC. Any advice would be much appreciated. 
Thank you

I, like you, was with SC until very recently. I went self managed following the advice on here, mainly due to the amazing advice that Sourcrates gives, & I immediately informed all my creditors that I was doing this & sent off CCA requests. I am keeping everything the same in terms iof payments but all are aware that the payments will re-start following the receipt of the CCA. It seems a huge step to do but you are in more control when going self managed.

I am just writing to agree with all of the above,  my finances crashed early 2019 andI was with sc for a year and then went self managed. My last account defaulted in January and  active debt have gone from 24.000 to under 10.000. The 14000 was on old credit cards, one is unenforceable and one is on hold so I am not paying into them. One of them have offered a 65% discount, but while that is amazing, I don't still have the money for a F and F otherwise I would get it out of the way. 
You need to keep a clear log of all balances and status and addresses when you go self managed, but it just becomes part of you monthly checkups. I have everything set up as standing orders - and the smaller one I pay extra money into when I can as it will paying out no matter what. Good luck.

Quick question in relation to the ones which are un-enforceable, how do they work? I know you don't pay without the CCA but after the default drops off (after the 6 years) does it show as a debt on your credit report?

No, nothing shows after 6 years.

Eventually they become statute barred.

Thanks Sourcrates, that has put my mind at ease as it means I can focus repaying any debts that are enforceable. I'm sure I speak for everyone on here when I say your advice is reassuring & invaluable.

sourcrates

alxofn1 said:

Weimsrock said:

alxofn1 said:

Hello all, I'm trying to wrap my head around a letter from one of my creditors. It concerns an MBNA card for which I currently have a balance of around £6136.02 on; I'm in a DMP plan which pays approximately £85 a month to this particular debt. I've received a default notice from the creditor informing me of the full balance i.e. £6136 but also an Arrears of £61.36; I cannot understand how they've come to this arrears amount - and the letter itself goes on to say that I am in breach of my credit agreement and need to pay the 61.36 by a certain date to avoid enforcement action. Does this sound like a normal kind of letter? I'm just a bit puzzled as to how a comparatively small amount is being flagged up on this letter, when I have been making payments monthly via my DMP towards this debt since December 2020 now.  

Yes this is normal. I’m assuming this debt has not yet defaulted. This is them writing to let you know that the account is reaching an arrears level that and your account is about to go into default. Assuming your DMP is due to last longer than 6 years then you should welcome the default as it will ensure no more interest or charges will be applied. If however, and only if you think you can clear the balance in the next couple of years then you may want to think about bringing the account up to date to avoid the default. Don’t panic no bailiffs are going to turn up because of this letter 

Thank you. Interestingly, I noticed that a letter I had received advising a missed payment on the card in January 2021 advised an amount due of 66.41, and then this arrears letter which is entitled " Default Notice Served under section etc etc" states an arrears of £61.36 - so I am not sure if this is a default notice; it then goes on to threaten the various legal things i.e. demanding immediate payment, being taken to court etc which is all very scarily worded . My understanding is that StepChange have been taking my DMP DD, and sending £85 to this particular account each month - although my understanding of course is that DMP payments do not adhere to any "payment due dates" like a regular credit card bill payment would do they? i.e. they are just credited to the balance each month as and when. 

A default notice is a requirement under section 87 of the consumer credit act 1974.
It must be sent by law, the notice details the actions you should take to bring your account back in line, and the penalties a creditor "could" impose if you don`t.
In reality, your debt just goes to collections, or to a debt collection agency, and will hopefully default after this.

It takes no account whatsoever of your DMP arrangement, that is an entirely separate matter between you, they are just following procedure.

bluebell_on_track

Hi everyone, 
I have received a letter from two of my creditors saying ‘although I am paying through step change, it’s not enough to clear the debt in a reasonable time. They will now make strides to collect the remaining debt from me. 

Does this just mean they’ll sell it on? Or does it mean they are going to take me to court? 

Thank you for your help xxx

Suseka97

bluebell_on_track said:

Hi everyone, 
I have received a letter from two of my creditors saying ‘although I am paying through step change, it’s not enough to clear the debt in a reasonable time. They will now make strides to collect the remaining debt from me. 

Does this just mean they’ll sell it on? Or does it mean they are going to take me to court? 

Thank you for your help xxx

Have a chat with StepChange and let them know.  There would be no gains for them, if they tried to enforce collection through the courts, so I doubt that would be the next move.  They may well decide to sell the debt on and if they do, all you have to do is let SC know so they can amend the payment details.  Out of interest, who are the creditors in question  - it might help to know then if anyone has experienced this they can be a bit more specific about what happened next.

Above all, don't let this worry you