DMP mutual support thread part 13 !!

Billy12345

Second query of the day, thick and fast today.

All of my loans etc have defaulted except ratesetter who have the AP markers on my credit file. I've complained to them that they are not treating me favourably because I have agreed a payment plan and this will be on my account for longer than a Default Notice but they are refusing the budge saying to take my complaint to the FCO. They haven't given any reason for not defaulting only that the as I am in a DMP they place these things as Under Arrangement on their records. Obviously I will be going to the FCO but has anyone had any luck with either the FCO in cases like this or ratesetter themselves.

If all fails I'll stop paying them for a few months (which is difficult with SC) and see what happens.

Willing2Learn

Hi Billy12345,

If Ratesetter were to comply with ICO guidance, then they should mark the account as defaulted, backdated to when you were 3-6 months in arrears of the original agreement.

Have a look at the thread linked below. It will give you the guidance necessary to resolve this issue. (Pay particular attention to post #4)
https://forums.moneysavingexpert.com/showthread.php?t=5598629

Puzzcat

Billy12345 wrote: »

Second query of the day, thick and fast today.

All of my loans etc have defaulted except ratesetter who have the AP markers on my credit file. I've complained to them that they are not treating me favourably because I have agreed a payment plan and this will be on my account for longer than a Default Notice but they are refusing the budge saying to take my complaint to the FCO. They haven't given any reason for not defaulting only that the as I am in a DMP they place these things as Under Arrangement on their records. Obviously I will be going to the FCO but has anyone had any luck with either the FCO in cases like this or ratesetter themselves.

If all fails I'll stop paying them for a few months (which is difficult with SC) and see what happens.

Willing2Learn wrote: »

Hi Billy12345,

If Ratesetter were to comply with ICO guidance, then they should mark the account as defaulted, backdated to when you were 3-6 months in arrears of the original agreement.

Have a look at the thread linked below. It will give you the guidance necessary to resolve this issue. (Pay particular attention to post #4)
https://forums.moneysavingexpert.com/showthread.php?t=5598629

Hi,
Not the same creditor but I took my complaint to the fso and the ico and they both agreed with the creditor and this debt had been sold on as well. The don't have to default you, we would like them all too but they don't have to. And yes I quoted all the guidance.
Puzz

debarob

Thank you for this, it is only with experience and hindsight that i have now realised that using this DMP was probably not in my best interest, i was rather young, and quite overwhelmed by the situation i had managed to get myself in.
it appears that the majority opinion is to end my ties with these guys and i believe this is the right opinion. i feel i'm in a much better position, both emotionally and financially to take on the creditors myself.

i have already found all the numbers for my creditors and plan to start phoning them tomorrow, i will as suggested start off at 30% for each one and go from there depending on how much they will accept.

thanks again for this advice

Willing2Learn

debarob wrote: »

i have already found all the numbers for my creditors and plan to start phoning them tomorrow, i will as suggested start off at 30% for each one and go from there depending on how much they will accept.

It is the general consensus that it is best to make your offers in writing. They then have to reply in writing, confirming they will mark your account, on your credit file, as settled and closed once payment is received. The reply is crucial to making it work. (Of course they may also refuse the offer, or make a counter-offer etc)

Billy12345

Puzzcat wrote: »

Hi,
Not the same creditor but I took my complaint to the fso and the ico and they both agreed with the creditor and this debt had been sold on as well. The don't have to default you, we would like them all too but they don't have to. And yes I quoted all the guidance.
Puzz

Thanks Puzz, I'll be taking this to the fso, but wont hold my breath for a positive outcome. Any advice you can give for the letter etc would be great :beer: I am considering not paying anything to ratesetter to see if they will default, just means I'll have to update the SC account and then amend later saying it was a mistake of some sort.

Can't go self managed yet as I hoped as we are selling our house and the brokers I have spoken with all want the SC documentation to support I am dealing with my finances responsibly. They don't like the self managed approach so I'll have to stick with SC for a while longer.

Ratesetter are the only one not to default which is annoying. They were great at the outset by stopping interest etc but won't budge o the default.

[Deleted User]

Billy12345 wrote: »

Thanks Puzz, I'll be taking this to the fso, but wont hold my breath for a positive outcome. Any advice you can give for the letter etc would be great :beer: I am considering not paying anything to ratesetter to see if they will default, just means I'll have to update the SC account and then amend later saying it was a mistake of some sort.

Can't go self managed yet as I hoped as we are selling our house and the brokers I have spoken with all want the SC documentation to support I am dealing with my finances responsibly. They don't like the self managed approach so I'll have to stick with SC for a while longer.

Ratesetter are the only one not to default which is annoying. They were great at the outset by stopping interest etc but won't budge o the default.

Good Luck:beer:


Lloyds have been a pain with defaulting me. Despite being on a SC DMP since March 2013 and all my other creditors defaulting during 2013 Lloyds didn't do it until July 2016:mad:. All the others will drop off my credit file next year but Lloyds will be hanging around until 2022 even if I get a F&F accepted by the end of this year. I've written to them to get it backdated but no joy. Will try again and quote some official legislation to see if they'll budge. Maybe I could make my F&F offer dependent on the default being backdated:think:

debarob

Thank you again, i will take this approach instead (i'm sure this will be less daunting than dealing with them over the phone anyways!).

where is the best place to get a template letter for this purpose?

[Deleted User]

Panic stations here, just had a nasty shock:eek:

Long story sadly not so short:o. I've been paying all my creditors a token £1 a month for over a year so I can build up a F&F pot.

One of my creditors (who I have 2 debts with) has been pestering for a payment review which I suppose is fair enough. I'd said I only wanted contact by letter but I decided to phone them to do it in person. Big mistake. I'd spent ages getting my paperwork and figures sorted so it appeared I only had enough disposable income to continue with the £1 a month;).


The person I spoke to was lovely, so gentle and reassuring and patiently went through my account and took down all my figures. then she hit me with the bombshell that they can't action repayments of less than £5 a month without seeing a bank statement with proof of outgoings:eek:. When I said I was never asked for one before she said it was a new procedure.


I don't know what to do. A bank statement will only prove that what I told her I was claiming for is untrue, I suppose it could be construed as attempt to defraud. I'm someone who has always told the truth (apart from not telling OH about my debts but that was omission rather than a lie and he has never suffered as a result of it). But through being in debt and desperate to get out of it I've resorted to lying about my financial affairs to one of my creditors and will be found out.


I don't know what to do next, I just feel sick:(. She said she's given me 30 days breathing space to get the statement sent to them and after that my existing 'plan' will end. I obviously can't send one. Any advice please?

Moveslikeagger

Carboot,

Could you not just pay them nothing? Or just refuse to give them a statement and carry on paying? Whats the worst they can do?