DMP mutual support thread part 13 !!

Debtfreeat50

I am having a bit of a panic! Just accepted a job offer and handed my notice in but have now received a list of pre employment checks including a credit check via Experian.
I am panicking that this will show my DMP and defaults and I will have my offer taken away.
Does anyone have any experience of these checks and what they look at?

Debtbegone2022

Debtbegone2022 said:

sourcrates said:

Well then you have the evidence to make a complaint about they way they are controlling your date.

Once a default is registered, your file should continue to reflect that for the full 6 years.

Marking it as an arrangement to pay is unacceptable, and a complaint should be made.

Thank you, I will send them a complaint.

I have emailed drafty stating that my credit file should continue to be reported as defaulted not an AP, as I have a defaulted date in my credit report. This I thought went to the complaints department but it looks like it did not.They have come back with the following;

I understand your concern however, as mentioned in the previous email, post default on our credit file your account was transferred to a debt collection agency, CRS.

As the regular payments were made in the arrangement, we've started reporting the loan under arrangement. Therefore, the correct information was reported on your credit file.


I have previously reached out to CRS who have stated they do not report to my credit file and that this still sits with Drafty. It is also still under Drafty in my credit report.

I have now specifically asked for the contact information for the complaints department from drafty, is there anything specific I need to say in my email to get them to fix this once I have the correct address? 

Thank you

Ex_welsh_borrower

sourcrates said:

Ex_welsh_borrower said:

Hi, Wondering if I could get advice on how default dates are treated once a debt is sold on. I had a CC with MBNA that defaulted in April 2021, this was sold to Link Financial around August 2022. Looking at my credit report the MBNA card is marked a closed and the Link Financial one is open with a default date of August 2022?

Should the April 2021 not carry over to Link Financial?

All of that is correct except the Link Financial default date should mirror the MBNA date of default, a debt can only default once, looks like they have got it wrong, a written complaint beckons.

Thanks for confirming that, just sent a complaint off.

Hols2021

Hi All,

I'm now about 6 months into my self managed DMP and i have received a letter from Wescot re a loan i have with my Bank. They said they I would make an offer and they would be willing to look at a settlement figure and could ask the bank if they would accept it and then it would need to be paid over 3 - 6 months. Has anyone ever done this? i have no idea what they would be looking for but i couldn't afford to offer anymore than £1000 as that's all we have saved and i doubt very much they would accept that as my loan is £9.5k! Just wondered if anyone has done this? Thanks

natlie

Hi

I have just over a year left on my DMP £6,783.61 paying £460 a month 

I am so bored of it and it is so frustrating now. I have never made any offers against my outstandings 2 of them are under £800 do you think I should try offering them £200 each to close them?

Thanks
Nat 

delamere86

Hi 

Just looking for some advice really.

After years of trying to avoid it and borrowing more to keep up I've accepted I just can't keep doing this and can't afford to either. I've filled in initial details with Stepchange online who recommended a DMP and I think this is my best option. 

However reading here I've seen that it's recommended that you simply stop paying for 3-6 months to allow the defaults to roll in and then get started on the DMP. 

I've just got a few questions about this if anyone has advice - what do you do if some companies default you but others don't? Do you wait for all defaults to come in first? 

I'm also concerned that one loan company at least may have my work contact details, can I ask that they remove these? 

Really grateful for any tips for getting started and getting out of this awful debt cycle I have got myself into : ) 

sourcrates

natlie said:

Hi

I have just over a year left on my DMP £6,783.61 paying £460 a month 

I am so bored of it and it is so frustrating now. I have never made any offers against my outstandings 2 of them are under £800 do you think I should try offering them £200 each to close them?

Thanks
Nat 

delamere86 said:

Hi 

Just looking for some advice really.

After years of trying to avoid it and borrowing more to keep up I've accepted I just can't keep doing this and can't afford to either. I've filled in initial details with Stepchange online who recommended a DMP and I think this is my best option. 

However reading here I've seen that it's recommended that you simply stop paying for 3-6 months to allow the defaults to roll in and then get started on the DMP. 

I've just got a few questions about this if anyone has advice - what do you do if some companies default you but others don't? Do you wait for all defaults to come in first? 

I'm also concerned that one loan company at least may have my work contact details, can I ask that they remove these? 

Really grateful for any tips for getting started and getting out of this awful debt cycle I have got myself into : ) 

Yes Natlie, you should make offers on your debts if you are able to.

Check out the nationaldebtline.org website for information and template letters.

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delamere86, defaults are getting harder to get due to the current cost of living climate surrounding debts and how creditors should treat you under those circumstances, so you might be waiting a long time.

If you want to crack on with things, and don`t want to wait, you can ask creditors to stop interest, follow their complaints procedure if necessary, your credit file may be affected for longer than it should, but again, you can complain further down the line and hopefully get that rectified.

Under GDPR you can choose how you are contacted by creditors, you must inform them in writing of your wishes.
The cycle of borrowing and consolidation has to stop eventually, the sooner this is realised the better.

InAPickle76

Hi everyone

Hoping for a bit of advice. We are looking to remortgage as we are with The One Account and the interest seems to be going up every month!! We had a DMP back in October 2014 originally with StepChange then went self managed about 3 years ago which is all going really well.

My concern is that when the mortgage company asks for the past 3 months' bank statements it is going to show all the payments to the creditors (we have 8 in total paying £5 per month) even though the defaults have all dropped off our credit files and our credit scores are now excellent. 

Is there anything we can do?? I just feel that this DMP is still haunting us way down the line and will continue to affect our chanvce of securing a better interest rate with another mortgage provider.

Many thanks for reading

xcharlie87

Hi, I’m brand new to a DMP and step change have confirmed it’s set up with first payment being taken 1st of may. I was starting to relax and feel better about my situation when I got a letter today saying that my Halifax credit card have rejected my offer and will continue with their collection. 

I’m not sure what to do now.

sourcrates

xcharlie87 said:

Hi, I’m brand new to a DMP and step change have confirmed it’s set up with first payment being taken 1st of may. I was starting to relax and feel better about my situation when I got a letter today saying that my Halifax credit card have rejected my offer and will continue with their collection. 

I’m not sure what to do now.

Carry on as you intended, it makes no difference whatsoever if a creditor accepts or declines your DMP, all that will happen is your debt to them will be sold on quicker than it would otherwise have been.

Nothing to worry about at all, happens all the time, you just keep paying the arrangement, if the debt changes hands, they will write and tell you.