DMP mutual support thread part 13 !!

55julio

sourcrates said:

Welcome to the DMP mutual support thread Part 13 !!

Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

If you are in a DMP or thinking of one, this is the place to be.

We are non judgmental and all DMP related questions are welcome.

Again the old thread was getting a tad long, so time, yet again, for a new one.

The old thread can be found here :

https://forums.moneysavingexpert.com/discussion/5623951/dmp-mutual-support-thread-part-12


[purplesignup][/purplesignup]

what kind of debt we are talking about, what about the job debt

sourcrates

55julio said:

sourcrates said:

Welcome to the DMP mutual support thread Part 13 !!

Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

If you are in a DMP or thinking of one, this is the place to be.

We are non judgmental and all DMP related questions are welcome.

Again the old thread was getting a tad long, so time, yet again, for a new one.

The old thread can be found here :

https://forums.moneysavingexpert.com/discussion/5623951/dmp-mutual-support-thread-part-12


[purplesignup][/purplesignup]

what kind of debt we are talking about, what about the job debt

Hi,

What do you mean by "the job debt" ?

HelenM05

Hi, we've been paying our debts through a DMP with SC for about 11 years. The debts started off at a massive  £116,000 and to date we have paid over £85,000 back leaving approximately £35,000 to pay. We have managed to raise approximately 50% of the outstanding amount and sent F&F settlement offer letters to the existing debt companies. We thought that give we have paid back such a large amount and never missed a payment during the 11 years of the DMP that these companies would be happy to accept settlement offers but this is not the case. The only company playing ball is Cabot, PRA group and Idem securities don't want to know. Is it worth sending CCA requests to idem and PRA? The PRA accounts were egg cards taken out before 2003.  If they can't produce the cca,s can we refuse to pay them anymore if they won't agree on a f&f settlement?  No sarcasm please I'm asking for advise from people with similar experiences and I know that these companies are not obliged to accept full and final settlements. TIA 🙂

sourcrates

HelenM05 said:

Hi, we've been paying our debts through a DMP with SC for about 11 years. The debts started off at a massive  £116,000 and to date we have paid over £85,000 back leaving approximately £35,000 to pay. We have managed to raise approximately 50% of the outstanding amount and sent F&F settlement offer letters to the existing debt companies. We thought that give we have paid back such a large amount and never missed a payment during the 11 years of the DMP that these companies would be happy to accept settlement offers but this is not the case. The only company playing ball is Cabot, PRA group and Idem securities don't want to know. Is it worth sending CCA requests to idem and PRA? The PRA accounts were egg cards taken out before 2003.  If they can't produce the cca,s can we refuse to pay them anymore if they won't agree on a f&f settlement?  No sarcasm please I'm asking for advise from people with similar experiences and I know that these companies are not obliged to accept full and final settlements. TIA 🙂

Hi,

Yes indeed you can CCA them, Egg cards in particular were found to be deficient in many ways where compliant credit agreements were concerned, this was first mooted at least 10 years ago.

If they can`t produce what they are supposed to produce, then you have the choice of either, continuing to pay them, or stop paying them entirely, you will find that even if they can`t produce compliant paperwork, they will still be belligerent in their dealings with you, most of the time, PRA Group especially, will not back down.

So if that`s the case, you can just walk away, should you wish too, and they cannot take you to court to make you pay.

HelenM05

sourcrates said:

HelenM05 said:

Hi, we've been paying our debts through a DMP with SC for about 11 years. The debts started off at a massive  £116,000 and to date we have paid over £85,000 back leaving approximately £35,000 to pay. We have managed to raise approximately 50% of the outstanding amount and sent F&F settlement offer letters to the existing debt companies. We thought that give we have paid back such a large amount and never missed a payment during the 11 years of the DMP that these companies would be happy to accept settlement offers but this is not the case. The only company playing ball is Cabot, PRA group and Idem securities don't want to know. Is it worth sending CCA requests to idem and PRA? The PRA accounts were egg cards taken out before 2003.  If they can't produce the cca,s can we refuse to pay them anymore if they won't agree on a f&f settlement?  No sarcasm please I'm asking for advise from people with similar experiences and I know that these companies are not obliged to accept full and final settlements. TIA 🙂

Hi,

Yes indeed you can CCA them, Egg cards in particular were found to be deficient in many ways where compliant credit agreements were concerned, this was first mooted at least 10 years ago.

If they can`t produce what they are supposed to produce, then you have the choice of either, continuing to pay them, or stop paying them entirely, you will find that even if they can`t produce compliant paperwork, they will still be belligerent in their dealings with you, most of the time, PRA Group especially, will not back down.

So if that`s the case, you can just walk away, should you wish too, and they cannot take you to court to make you pay.

Thanks for the advice, it would be nice if these companies were reasonable instead of making life so difficult. We're just so sick of this debt and want to draw a line under it after so many years of hard work paying it off.

Suseka97

HelenM05 said:

sourcrates said:

HelenM05 said:

Hi, we've been paying our debts through a DMP with SC for about 11 years. The debts started off at a massive  £116,000 and to date we have paid over £85,000 back leaving approximately £35,000 to pay. We have managed to raise approximately 50% of the outstanding amount and sent F&F settlement offer letters to the existing debt companies. We thought that give we have paid back such a large amount and never missed a payment during the 11 years of the DMP that these companies would be happy to accept settlement offers but this is not the case. The only company playing ball is Cabot, PRA group and Idem securities don't want to know. Is it worth sending CCA requests to idem and PRA? The PRA accounts were egg cards taken out before 2003.  If they can't produce the cca,s can we refuse to pay them anymore if they won't agree on a f&f settlement?  No sarcasm please I'm asking for advise from people with similar experiences and I know that these companies are not obliged to accept full and final settlements. TIA 🙂

Hi,

Yes indeed you can CCA them, Egg cards in particular were found to be deficient in many ways where compliant credit agreements were concerned, this was first mooted at least 10 years ago.

If they can`t produce what they are supposed to produce, then you have the choice of either, continuing to pay them, or stop paying them entirely, you will find that even if they can`t produce compliant paperwork, they will still be belligerent in their dealings with you, most of the time, PRA Group especially, will not back down.

So if that`s the case, you can just walk away, should you wish too, and they cannot take you to court to make you pay.

Thanks for the advice, it would be nice if these companies were reasonable instead of making life so difficult. We're just so sick of this debt and want to draw a line under it after so many years of hard work paying it off.

Definitely send those CCA letters off and stop making any further payments until they comply with the request/s.  I have experience with PRA and can confirm what @sourcrates has already mentioned.  Even though my 3 x PRA debts were proved to be unenforceable, they showed very little (to none) interest in settling at a reduced amount early doors.  So, I stopped paying them and stopped making offers and after a good 6+ months they started making me offers, albeit at a very small % reduction.  It's taken close on 3 years now and they are still only offering around 10% on one and around 65% on the other (the 3rd we settled because they eventually offered a reduction we were willing to accept).  I'm saying this so you realise it'll be a long-game, but certainly one worth playing.

moonlock

@Suseka97 Having experience with PRA can I ask you a question? Or anyone else who may know.

I sent them a CCA request a few weeks back, got a reply with some documents but they claimed it was unenforceable and will be treating it as such until they have more information. A week later they send me copies of statements. Now in this letter they didn't mention if my debt was enforceable or not.

Not sure if to ring and ask them? 

HelenM05

@Suseka97 thanks for your advice. I have done the letters tonight and will post them off in the next few days. Idem are also being awkward and refusing to negotiate so I've done one for them too. How can I stop paying them though when I'm on a DMP with Stepchange? Also some of the others want ro know the in's and out's of everything before they'll give us an answer, as in who else we owe money to and amounts, how much equity we have in our house, income/outgoings etc. I've replied saying I won't provide this information as Stepchange manage the DMP and they already have a budget. I'm not telling them how much equity I have in my house and don't know why they think I should be obliged to tell them when I'm trying to settle the debt anyway 🙄🙄

Suseka97

moonlock said:

@Suseka97 Having experience with PRA can I ask you a question? Or anyone else who may know.

I sent them a CCA request a few weeks back, got a reply with some documents but they claimed it was unenforceable and will be treating it as such until they have more information. A week later they send me copies of statements. Now in this letter they didn't mention if my debt was enforceable or not.

Not sure if to ring and ask them? 

No, don't ring them.  If they haven't explicitly stated that the debt is now enforceable, based on what they've sent (and statements alone are not sufficient) then it remains UE.  

Suseka97

HelenM05 said:

@Suseka97 thanks for your advice. I have done the letters tonight and will post them off in the next few days. Idem are also being awkward and refusing to negotiate so I've done one for them too. How can I stop paying them though when I'm on a DMP with Stepchange? Also some of the others want ro know the in's and out's of everything before they'll give us an answer, as in who else we owe money to and amounts, how much equity we have in our house, income/outgoings etc. I've replied saying I won't provide this information as Stepchange manage the DMP and they already have a budget. I'm not telling them how much equity I have in my house and don't know why they think I should be obliged to tell them when I'm trying to settle the debt anyway 🙄🙄

In order to do this you are going to have to self-manage and take control of your DMP.  SC won't allow you to stop paying (although you could ask I guess). 

The reason they are asking all those questions is because they are trying to assess how much you can afford - but of course you do not have to supply them with anything other than a standard I&E, which you can 'adjust' to suit your purposes.  That's why self-managing works better for people who are trying to get good F&F settlements.  You also do not have to provide any information you do not wish to and that certainly goes for any equity you may have tied up in your property.  DCAs are chancers and the more information you hand over, the more they will try to manipulate you.

The reason I advise you to stop making payments until they comply (or not) with the CCA request, is that they will happily continue to take your money and they won't necessarily respond to the CCA request with any haste.