DMP mutual support thread part 13 !!

Hols2021

Hi, looking for some information on Droyds debt collection. We have a La Redoute acc that has went to them, I’m not sure if they’re part on La Redoute or a separate company but we have not had a default on our CF yet but I believe from what I’ve read on other websites and here albeit going back a good ten years they can be quite difficult to deal with. I’m not sure if we’re best making a payment plan up, I’m not sure how catalogues work with defaults. Any advice please? 

sourcrates

Hols2021 said:

Hi, looking for some information on Droyds debt collection. We have a La Redoute acc that has went to them, I’m not sure if they’re part on La Redoute or a separate company but we have not had a default on our CF yet but I believe from what I’ve read on other websites and here albeit going back a good ten years they can be quite difficult to deal with. I’m not sure if we’re best making a payment plan up, I’m not sure how catalogues work with defaults. Any advice please? 

Can`t find a website for them, are they Bradford based?

Have they written to you? Do they mention "their client"?

If so, they will just be collecting on La Redoutes behalf, lots about them on the consumer action group site, bit old information now though.

Basically, you deal with all debt collectors in the same way, you figure out what you can afford to pay, and just pay it, you don`t look for approval, they will usually accept whatever you offer.

Fellalis89

Hi, I was wondering if DMP's affected things such as car insurance and increasing the costs? I've done my normal search today and noticed a £100 increase (given the current economical climate I'd expect some increase) but from companies I've not come across. All of the 'normal' companies such as AA, Admiral were £700-800 for the year. TIA

sourcrates

Fellalis89 said:

Hi, I was wondering if DMP's affected things such as car insurance and increasing the costs? I've done my normal search today and noticed a £100 increase (given the current economical climate I'd expect some increase) but from companies I've not come across. All of the 'normal' companies such as AA, Admiral were £700-800 for the year. TIA

A DMP is an unofficial, non regulated debt solution, so nothing appears on your credit file to say you are in one.
However, there will be late or missed payment markers, and also defaults shown on there, so you would not be refused insurance due to a DMP, but if you want to pay monthly, your interest rate may be higher than say an individual who has not defaulted on their debts.

Hols2021

sourcrates said:

Hols2021 said:

Hi, looking for some information on Droyds debt collection. We have a La Redoute acc that has went to them, I’m not sure if they’re part on La Redoute or a separate company but we have not had a default on our CF yet but I believe from what I’ve read on other websites and here albeit going back a good ten years they can be quite difficult to deal with. I’m not sure if we’re best making a payment plan up, I’m not sure how catalogues work with defaults. Any advice please? 

Can`t find a website for them, are they Bradford based?

Have they written to you? Do they mention "their client"?

If so, they will just be collecting on La Redoutes behalf, lots about them on the consumer action group site, bit old information now though.

Basically, you deal with all debt collectors in the same way, you figure out what you can afford to pay, and just pay it, you don`t look for approval, they will usually accept whatever you offer.

Hi Sourcrates,

Yes they are, they have written to us demanding a payment plan is set up or they will take further action? This is the first letter we have received like this as the other letters from DCA have been quite helpful. Yes they mention LaRedoute, I called them and managed to get an email address for them and it is a LaRedoute one so I wondered is this Droyds was part on their company? There is still no default on the CF and we don’t want a AP marker so can we wait for this to happen or can they take legal action? 

Also I mentioned a few posts back that one of our Cc has gone from our CF and has been for a number of weeks? We’ve not had any letters from them for months and I wondered if this usually happens when a DCA takes over as some of our CC are now in the DC names? 

vix4288

Hi All.

I am 2 months into my DMP with StepChange and realised I forgot to add one of my creditors. I need to ring StepChange and let them know and am worried that it will mess up my plan or that my creditors who have accepted maybe funny about it?!

Anyone else had this before?

thanks in advance.

ChelseaWoody27

Hi everyone, 

First time poster here. I was going to create a new thread but thought it might be better here. I'm nervously about to enter a DMP but have been a little put off by seeing some people say I shouldn't and just let everything default first. I'm quite young and on a good salary and do have hopes of getting myself on the property ladder at some point soon. 

I have around 18k worth of debts, most of that credit card but I do have some payday lenders that are currently the thing kicking my butt the most. StepChange has as of today sent out a request for breathing room, and has said that given the budgets I've put in that I should be debt clear in a year and a half. 

Does the fact that i'd be debt free so soon or that some of what I owe is to payday companies change anything regarding not entering into a DMP straight away? After reading some people's plans taking over 5 years I'm starting to wonder if I've done something wrong or if I can do this without defaulting at all? 

Can anyone help me? 

Hols2021

ChelseaWoody27 said:

Hi everyone, 

First time poster here. I was going to create a new thread but thought it might be better here. I'm nervously about to enter a DMP but have been a little put off by seeing some people say I shouldn't and just let everything default first. I'm quite young and on a good salary and do have hopes of getting myself on the property ladder at some point soon. 

I have around 18k worth of debts, most of that credit card but I do have some payday lenders that are currently the thing kicking my butt the most. StepChange has as of today sent out a request for breathing room, and has said that given the budgets I've put in that I should be debt clear in a year and a half. 

Does the fact that i'd be debt free so soon or that some of what I owe is to payday companies change anything regarding not entering into a DMP straight away? After reading some people's plans taking over 5 years I'm starting to wonder if I've done something wrong or if I can do this without defaulting at all? 

Can anyone help me? 

Hi Chelsea, 

I have only entered into a DMP which I decided to do self managed, some of my debts have still to default and we have been holding payments back since March, after reading through the forums and taking lots of advice we decided this was best for us as we didn’t want AP markers on our credit file as these will take a lot longer to disappear whereas defaults are off after 6 years so this was why we didn’t do it with Stepchange. I’m still pretty new at this but all the creditors and DCA have been quite helpful so far. 

My understanding is that even though you can clear it by the sounds of things pretty quickly the missed payments and defaults will still be added to your credit file so we have decided not to leave ourselves short or on a tight budget every month to try and clear it as quick as possible as it won’t make any difference, it will still be on our credit file for the next 6 years. We have a mortgage but as far as I am aware it would make it extremely difficult to get a mortgage or swap ours to another lender with missed payments and defaults on your credit file. 

I’m not sure I have answered your questions but there are a lot of people on here that are very experienced and will give you good advice.  

crm23

vix4288 said:

Hi All.

I am 2 months into my DMP with StepChange and realised I forgot to add one of my creditors. I need to ring StepChange and let them know and am worried that it will mess up my plan or that my creditors who have accepted maybe funny about it?!

Anyone else had this before?

thanks in advance.

Hi, we had this and it was fine, I just rang them up and they revised the plan. I think if you do it reasonably quickly then there isn’t an issue. Thanks 

watermelonx

Hello all. I was wondering if anybody can advise how long I should expect to hear back from StepChange after submitting a DMP application?