DMP mutual support thread part 13 !!

Debtbegone2022

sourcrates said:

Debtbegone2022 said:

Hello

I have received an 80% discount letter from Lowell to settle a debt. It states to phone them to accept this offer. If I choose to accept would it also be best to follow this up with a letter or email to confirm this, so that I cover myself in case there are any issues in the future? 

Thanks

Yes, you must categorically have written conformation that the debt is settled, and that they will not sell on the remainder to any 3rd party or their agents.

Just out of curiosity, discounts like that are usually only made on accounts that are unenforceable or statute barred, have you checked if either applies here ?

Great,thanks.

It is a very account that was opened in January 2010. Defaulted in August 2022 and I have been paying £5 per month. The 80% offer takes my payment amount down to approx £360 with 6 months to pay once accepted. So it’s not statute barred, I have not done any Cca requests yet on my debts to check if unenforceable,

They did also offer 60% discount around March time, to which I just ignored the letter.

sourcrates

Debtbegone2022 said:

sourcrates said:

Debtbegone2022 said:

Hello

I have received an 80% discount letter from Lowell to settle a debt. It states to phone them to accept this offer. If I choose to accept would it also be best to follow this up with a letter or email to confirm this, so that I cover myself in case there are any issues in the future? 

Thanks

Yes, you must categorically have written conformation that the debt is settled, and that they will not sell on the remainder to any 3rd party or their agents.

Just out of curiosity, discounts like that are usually only made on accounts that are unenforceable or statute barred, have you checked if either applies here ?

Great,thanks.

It is a very account that was opened in January 2010. Defaulted in August 2022 and I have been paying £5 per month. The 80% offer takes my payment amount down to approx £360 with 6 months to pay once accepted. So it’s not statute barred, I have not done any Cca requests yet on my debts to check if unenforceable,

They did also offer 60% discount around March time, to which I just ignored the letter.

Shop direct group owned Very at that time, as well as Littlewoods, and other brand names.

They were/are notorious for not obtaining signed credit agreements on their accounts, agreements were sent out, but most went unreturned, yet goods were still sent, which makes any debt accrued in that fashion unenforceable.

Lowell may be wanting to clear the decks of some old accounts, but these companies show their hand when such large discounts are offered.

My bet is there is no paperwork for this account, and a CCA request would confirm that.

Debtbegone2022

sourcrates said:

Debtbegone2022 said:

sourcrates said:

Debtbegone2022 said:

Hello

I have received an 80% discount letter from Lowell to settle a debt. It states to phone them to accept this offer. If I choose to accept would it also be best to follow this up with a letter or email to confirm this, so that I cover myself in case there are any issues in the future? 

Thanks

Yes, you must categorically have written conformation that the debt is settled, and that they will not sell on the remainder to any 3rd party or their agents.

Just out of curiosity, discounts like that are usually only made on accounts that are unenforceable or statute barred, have you checked if either applies here ?

Great,thanks.

It is a very account that was opened in January 2010. Defaulted in August 2022 and I have been paying £5 per month. The 80% offer takes my payment amount down to approx £360 with 6 months to pay once accepted. So it’s not statute barred, I have not done any Cca requests yet on my debts to check if unenforceable,

They did also offer 60% discount around March time, to which I just ignored the letter.

Shop direct group owned Very at that time, as well as Littlewoods, and other brand names.

They were/are notorious for not obtaining signed credit agreements on their accounts, agreements were sent out, but most went unreturned, yet goods were still sent, which makes any debt accrued in that fashion unenforceable.

Lowell may be wanting to clear the decks of some old accounts, but these companies show their hand when such large discounts are offered.

My bet is there is no paperwork for this account, and a CCA request would confirm that.

Thanks for the info. I will get a CCA request sent and also look at doing this for other debts I have.

 One question, once I have sent the CCA requests do I stop paying the monthly amounts I have agreed until this information is provided? 

sourcrates

Debtbegone2022 said:

Thanks for the info. I will get a CCA request sent and also look at doing this for other debts I have.

 One question, once I have sent the CCA requests do I stop paying the monthly amounts I have agreed until this information is provided? 

The accounts are temporarily unenforceable whilst you wait, and you can withhold payment in the meantime.

dfwb23

Hi everyone. I made a post about 4-5 months ago about my situation. (Long story short, too much debt to handle, decided to go for a DMP) 

I've been ignoring my creditors for 6 months now trying to get accounts to default. I have 17 unsecured debtors though so it's hard to keep track. Some accounts have defaulted, some have went to DCAs and I'm starting to get letters about potential legal action and I'm starting to spook. 

I'm not sure what do next, part of me wants to see it through until all my accounts have defaulted so I can have a completely clean slate in 6 years, but I'm sick of burying my head in the sand. The constant letters and phone calls over the last 5 months have been causing me no end of stress and really want to get things moving in the right direction. 

How likely are unsecured creditors to default an account if you ask? Has anyone had any experience of something similar? 

I live in Scotland, so as I understand it I will be on a DAS rather than a DMP, does this change how accounts will be reported on a credit file? What exactly will show up on both a defaulted and undefaulted account each month? 

I would be really grateful for any and all advice. I'm not sure what to do, whether I should keep going and wait for everything to default or just bite the bullet and start a DAS. How much of a difference would entering a DAS without accounts in default really make versus entering one with all accounts defaulted?

sourcrates

Its just standard collection activity, but you don't want to leave it too long.

If your going down the DAS route, you may as well crack on with it, as having accounts default will be of little benefit to you, as interest and charges are suspended in a DAS anyway, you also get legal protection from creditors.

The arrangement will likely last 6 years anyway, maybe less, so your file will heal itself in time, I`d make that call if I were you.

dfwb23

Much appreciated SourCrates, I'll contact StepChanges today. 

Onebrokelady

I contacted PRA to ask them to write off my debt. They asked for bank statements.mortgage statement and prof of my health problems. I got in a bit of a state about providing some of this so emailed them and told them I would pay them a small amount each month for each debt and would just have to eat less.They have now contacted me and said that it's clear from my budget that I can't afford to pay them so they have put my account on hold for 6 months and will contact me again in February. Does this mean I don't have to pay anything for 6 months or should I pay the £5 for the five debts that I owe. I've been paying them via a DMP for 5 years but stopped the DMP to go self managed 

sourcrates

@Onebrokelady,

Your account is on hold, so you don`t pay anything, you should not chop and change strategy here, and certainly not prioritise non essential debts over food, that`s just non productive for everyone.

Try and stick to the plan to obtain right offs, my suggestion would be for you to collect the required information they were requesting, but only what you are comfortable with sharing, and what is relevant, so when they contact you in February, tell them your situation has not changed and would they consider writing off your debt due to the circumstances discussed previously.

Send the information to them, and stick to the plan, only say and do what you are comfortable with, panicking and losing focus won`t help you in the least, so try and be clear on what you are trying to achieve, you can do it.

Onebrokelady

sourcrates said:

@Onebrokelady,

Your account is on hold, so you don`t pay anything, you should not chop and change strategy here, and certainly not prioritise non essential debts over food, that`s just non productive for everyone.

Try and stick to the plan to obtain right offs, my suggestion would be for you to collect the required information they were requesting, but only what you are comfortable with sharing, and what is relevant, so when they contact you in February, tell them your situation has not changed and would they consider writing off your debt due to the circumstances discussed previously.

Send the information to them, and stick to the plan, only say and do what you are comfortable with, panicking and losing focus won`t help you in the least, so try and be clear on what you are trying to achieve, you can do it.

Thank you so much for the advice I will definitely carry on with the plan. Most of the info they wanted was ok it was just  the health stuff I had trouble with and I don't think they need to know why I've had to cut my hours. I can get a letter from my GP but it costs £30 so they sent me a list of my diagnosis instead because that's free but it's so flaming protected I can't actually get into the information to look at it. I am useless with tech so had a hissy fit about it all. 
I feel a lot calmer now and will definitely do as you have suggests.