DMP mutual support thread part 13 !!

sourcrates

Harveyhelp said:

Hi all 

very new here and stubbled across this but just wondered if someone could offer me some advice please as I have seen some
fantastic tips 

in 2021 I took out a storecard for JJB sports (went into administration on 2012). The balance was £400 

at the time I want working and my daughter was undergoing cancer treatment. It was to buy her a few things (though silly of my now)

long story short. I am still paying the debt. It was with creation finance for a long time and just changed again. Due to interest and charges over the years the debt is now over £1400 even though interest and charges had stopped some years ago. 

Please can someone advise if and how I can appeal this? I believe it was irresponsible lending along with a lot of interest and charges but with JJP Sports no longer in existence im
not sure of the next steps? 

Thanks 

Who has the debt now ? who do you pay ?

Did it default, if so when ?

There is no appeal, only a complaint, which as the company went bust, would now be pointless, however there are things you can do though, which I will go through with you when the above questions have been answered.

Harveyhelp

sourcrates said:

Harveyhelp said:

Hi all 

very new here and stubbled across this but just wondered if someone could offer me some advice please as I have seen some
fantastic tips 

in 2021 I took out a storecard for JJB sports (went into administration on 2012). The balance was £400 

at the time I want working and my daughter was undergoing cancer treatment. It was to buy her a few things (though silly of my now)

long story short. I am still paying the debt. It was with creation finance for a long time and just changed again. Due to interest and charges over the years the debt is now over £1400 even though interest and charges had stopped some years ago. 

Please can someone advise if and how I can appeal this? I believe it was irresponsible lending along with a lot of interest and charges but with JJP Sports no longer in existence im
not sure of the next steps? 

Thanks 

Who has the debt now ? who do you pay ?

Did it default, if so when ?

There is no appeal, only a complaint, which as the company went bust, would now be pointless, however there are things you can do though, which I will go through with you when the above questions have been answered.

Hi thank you for the response

so the credit was taken out in 2001 and although it was for a JJB storecard (who are now bust) it was financed through creation ltd 

I was paying interest and charges until 2015 which took my initial credit line from 300 all the way to over £1700

In 2015 - 2018 I got the balance down to £1400 when in 2018 they confirmed I didn’t have enough income to make payments and held the account for one year when I started paying £20 a month 

In 2021 they passed the debt to Lowell where I still owe £850 today 

the debt defaulted in 2015 and is now off my credit record 

thanks 

Hols2021

sourcrates said:

Hols2021 said:

I called Arvato this morning and my card debt has now been sold to Cabot so I will wait to get a letter from them and hopefully set up a payment plan. I’m a little worried I said something I shouldn’t have though as another account is with Arvato and they asked if I could pay 1% of the balance which I can’t afford to right now but I said this and also that my account hasn’t defaulted and I’m wanting it to default he said he’s note this on the account and said it’s not dues to default until the 30th November…..but worried now that I shouldn’t have said that! 

Hols, do everything in writing, never ring these companies.

Anything to do with debt, always in writing only.

Thanks Sourcrates, I will do everything in writing now. Will I get into bother saying I want the accounts to Default? I know you can write to the companies to ask them to default your account so I hope it will be ok. 

Can I ask, one of my cards has now defaulted and wescot are dealing with it I believe although I’ve not had mail yet from them but I received a letter from them re a loan I have with my bank which has not defaulted and they want me to contact them. I’m a bit worried because when I contact them re my defaulted account I think they will try to get me to set up a plan with the loan which I don’t want to do until it’s defaulted. Can you give me any advice on what to do please? 

ditty1234

Hi it has been a while - I am over 3 years into my DMP and things have mostly settled down, I even got offered a 30% discount from Intrum recently. Unfortunately I don't have the cash to buy out so not sure what is the next big move. 
In the meantime life moves on and I have received a grant to develop my creative business and I want to open a separate account for it - as I can only pay myself as and when I spend the money on specific things. 
The question is - do I still have to avoid the banks where I had debt when I open a savings account?
I will have the money sitting about for up to a year before I spend the rest. (It is not my money to spend as such). Just wondering. 

Hols2021

Hi,

I don't think anyone has replied to my previous post so i will ask again and hopefully someone can help me. Wescot have sent me another letter saying they have checked with public records about where i stay as they have not heard from me and they are contacting me on behalf of my bank. The letter says they will not add interest and fees and i can set up a plan with them but if i don't they will continue to call, text and send letters to recover this money. I am assuming if i set this up with them this will be noted as an AP on my credit file which i don't want, it's been 7 months now and they still haven't defaulted me. I'm not sure what to do but the letter is making me feel uneasy. Can i email my bank and ask them to default my account? any advise would be appreciated.

sourcrates

Hols2021 said:

Hi,

I don't think anyone has replied to my previous post so i will ask again and hopefully someone can help me. Wescot have sent me another letter saying they have checked with public records about where i stay as they have not heard from me and they are contacting me on behalf of my bank. The letter says they will not add interest and fees and i can set up a plan with them but if i don't they will continue to call, text and send letters to recover this money. I am assuming if i set this up with them this will be noted as an AP on my credit file which i don't want, it's been 7 months now and they still haven't defaulted me. I'm not sure what to do but the letter is making me feel uneasy. Can i email my bank and ask them to default my account? any advise would be appreciated.

Wescott are just acting as a collector in this instance, they have been engaged in order to encourage you to set up a payment plan.

The debt is still owned by your bank, therefore the collector cannot do anything with regard to enforcement, as it`s not their debt.

Also, you cannot take legal action on a non-defaulted debt.

Wescott will go through there standard array of template letters with you, and if no response, will return the account to their client.

You are free to do whatever you choose to do, it`s a free country.

swansea_lad

Why have they added this? I have paid off my HSBC card.

Your credit alerts

See all

Debt management plan (DMP) added

15 Sept

A debt management flag was added to your MBNA Ltd account.

Wall69

Wall69 said:

Hi,just after some advice.  So 5 years into a DMP with SC.  Still got a whopping amount to go.
After reading lots and lots on these forums have decided to go self managed.   Will
immediately pay off several of the smaller debts so will only have about 4 creditors left.   

Here’s the question - after the 6 years pass and the defaults drop off, when I am continuing to pay the four creditors am I still in a DMP or am I just paying historic debts?  Asking for mortgage purposes??? Xx

Posted this a little while back and didn’t get a response.  Maybe it was a silly thing to ask, happy for some advice if anyone has it - even just to put me right? Xxx

sourcrates

Wall69 said:

Wall69 said:

Hi,just after some advice.  So 5 years into a DMP with SC.  Still got a whopping amount to go.
After reading lots and lots on these forums have decided to go self managed.   Will
immediately pay off several of the smaller debts so will only have about 4 creditors left.   

Here’s the question - after the 6 years pass and the defaults drop off, when I am continuing to pay the four creditors am I still in a DMP or am I just paying historic debts?  Asking for mortgage purposes??? Xx

Posted this a little while back and didn’t get a response.  Maybe it was a silly thing to ask, happy for some advice if anyone has it - even just to put me right? Xxx

Your defaulted accounts only show on your credit files for 6 years, they then drop off it, and are gone.

However, that only refers to the credit file entry, the debt itself is still owed and collectable, and will remain so until repaid.

You are confusing the limitation period, where after 6 years a debt becomes statute barred, for that to be the case, no payments can be made towards the balance, for that entire period, you are paying via a DMP so it does not apply to you, the debts remain collectable as long as a balance is owed.

The term "historic debt" has no meaning in this case.

DebtFreeWannabe88

A little DMP clarity required…

Hi all,

Ive been with SC in a DMP since December 2019 and as of now my estimated completion date is May 2034.

in the new year I intend on seeing how I can maybe clear some of the smaller accounts on there in full so my payment is focussed on the larger debts and in my quest to understand properly I came across the forum (I wish I had before entering the DMP tbh but hey ho here we are…)

I used CMF to get a copy of my report to see how it’s looking as we are due to remortgage early next year and after reading the pages of this forum and reviewing the data I’m wondering if it’s all ok in terms of my default dates etc and if not should I be taking any further action to question anything. I hope someone who has a better understanding can assist and offer any advice if necessary?

The different agencies have differing information regarding my debts and some even state DM or AR which I’m understanding after reading the four I’m isn’t the ideal markers to have? Why is this?

My debts are showing as follows:

Intrum; ( small balance of £22 can I just clear it?)
Eq shows as all payments as OK
Ex shows as all OK
TU shows all pmnts as DM

Lowell
from June 2020 shows as 1,2,3,4,5,6,6,6,6,6 and then from the until now shows as OK, no Default with all 3 credits agencies 

Klarna Bank 
Ex shows as OK the whole time, no missed or defaults 
TU shows as AR from march 2020 until present day

Paypal credit ( now with moorcroft but that’s not shown on the file)
Ex shows as U from Jan 20 till now
TU shows as D from March 20 until now

intrum ( biggest debt Tesco loan)
Eq shows D in march 20 and then from April 20 until present day shows U
Ex shows as D from march 20 until Dec 20 and then no more record
TU shows it as DM from Nov 21 until now 

Amex with AIC
shows as D from march 20 until now with all 3 credit agencies 

Next with Brecon debt recovery
Eq shows a D in March 20 and then U till present day 
Ex shows D from April 20 u til present day 
TU shows AR in feb 20, DM in March and April 20 and then D from May 20 until present day 

Do any of these stand out as needing further action? I understand the default ones will drop off 6 years after first D registered but what about the ones that say OK, DM or AR?

also where do I stand in paying the smaller balances off in the new year? Is it better to just settle the full balance rather than asking for a negotiated F&F pmt that will show as partially settled on my file?

TIA for assistance - apologies for the mammoth post!