DMP mutual support thread part 13 !!

sourcrates

Darthmark 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/showthread.php?t=5623951


[purplesignup][/purplesignup]

I am seriously considering a self managed DMP but Is the link mentioned somewhere at cabmoney org uk just for North East Derbyshire?? I live in Dorset and cant find the equivalent on the Dorset Citizens Advice website.

Link to what?

What is it you are looking for?

Irgo

sourcrates said:

Irgo said:

Currently a few months into a self-managed DMP after leaving Stepchange. I have payments set up for the accounts that had already defaulted and I've stopped payments to all other debts while I wait for them to default.

I've had a few default notices now and I'm wondering what happens next. Some of them mention court proceedings if payment isn't made by the deadline date given; is this something to worry about or just the standard default notice language? Do they have to let you know the account has defaulted before moving on to court action? I don't want to send DMP proposals out too early and accidentally stop a default but mentions of court action does have me wondering if I should send a proposal just to be safe.

Following the deadline of one of the default notices, I've now got a letter from Intrum which is a formal demand, but doesn't mention the account being defaulted. Again, will they actually send me some sort of "This is now in default" letter or do I just need to keep an eye on my credit reports?

If you do not comply with the standard default notice, then a creditor can add a default to your credit file.

When or even if they do so is up to them, but should be within a reasonable space of time.

There is no "we have now defaulted you" letter, you will just have to keep checking credit reports.

So if I have not complied with a default notice and the deadline date has passed, should I now start making payments or is it best to keep waiting until it says the account has defaulted on credit reports?

Tryingnottobeskint

Hi all 

sorry just a quick one, has anyone had any success in sending cca requests via email without the £1 or can they be ignored? 

I don’t really have the facilities to send the £1 via post or printer (at work) unless I physically put a £1 coin in the letter. Is it still a valid request via email? 

Cheers 

sourcrates

Tryingnottobeskint said:

Hi all 

sorry just a quick one, has anyone had any success in sending cca requests via email without the £1 or can they be ignored? 

I don’t really have the facilities to send the £1 via post or printer (at work) unless I physically put a £1 coin in the letter. Is it still a valid request via email? 

Cheers 

To be a valid request, and to comply with the consumer credit act, your request must be in writing and it must be accompanied by the statutory fee of £1, don`t send cash, just go to the post office and obtain a £1 postal order.

As an alternative you can just ask for evidence of your liability by email, which is essentially the same thing, if they can`t provide copies of credit agreements/statements etc, you end up with the same result.

dba2023

Hi, I’m new to all of this.  Going to go down the self managed route and really grateful of all the advice in this forum.  I have a loan with Zopa which has now been defaulted and seems to be with their internal recoveries department.  Do I look to start making payment now or wait until my other creditors have defaulted.  Anyone got any experience of dealing with Zopa?
thank you

Norfolk_Jim

The time has come to think about F&F offers and I need to check now which are unenforceable, if any, before deciding on what to offer. Four of my debts are with PRA so do I need to send 4 seperate requests or can I just send one request covering the 4 debts

Girlonaphone

Hiya! I’ve spent the past week reading this thread and many others on MSE forums relating to DMPs. What a wonderful resource and it’s been a huge reassurance to see so many posts that I can identify with. Worrying about debt is so isolating and frightening, I honestly feel for the first time in a long time that I’m not alone, so thank you everyone. 

I guess I’m just looking for a bit of reassurance around going into a DMP, and some advice along the way if possible? 

At the moment I am up to date with all debt but quickly drowning and robbing Peter to pay Paul just to get food on the table. It can’t go on, the stress and worry is taking its toll now. 

My plan is to self manage. I’m going to stop all non priority payments now, write to each of my creditors and advise them of my situation and that once I have a plan in place I will start making regular payments (I will include an I&E detailing what I will pay to whom, and also revoke my permission for them to contact me other than in writing)
I’ll then start saving an EF and think I can manage to get this to £2k over the next 3 months, after which I will start paying creditors (as long as the debts have defaulted or at least moved over to a DCA) 
I owe £30k across loans and although I could probably continue to make minimum payments the reality is I’d have this debt for a million (ish) years and I just feel like I need to get back on a level setting and be able to sleep at night. I’m paying about £900 per month just to creditors and have now got into the horrible situation of taking earnings before payday to get by, but the knock on effect of that is now unsustainable. (My employer has one of those online facilities where you can ‘withdraw’ a % of your salary early) 

I think I’ve got past the initial fear of ‘not paying’ and accepted I now just need to do it, I’ve actually had a couple of ‘hopeful’ moments while reading through the forum and it’s really helped me get to this point. 

So sorry for the rant! Is there anything I haven’t considered in the above, and is it really now just a case of stopping payments, waiting on defaults, and building my EF meantime?? 

Thanks so much to anyone who has time to reply. It was scary even writing this post but here we go!! Xx 

Girlonaphone

Sorry, the above should say loans AND credit cards! 

gelfling8319

Hi there, 
My Updraft loan has been sold onto TBI financial services and I’ve received my 1st letter from them asking for a statement of affairs. 

Am I able to just set up a monthly payment myself without sending them a SOA or do I still need to complete one for them? 

Any advice much appreciated. 

sourcrates

gelfling8319 said:

Hi there, 
My Updraft loan has been sold onto TBI financial services and I’ve received my 1st letter from them asking for a statement of affairs. 

Am I able to just set up a monthly payment myself without sending them a SOA or do I still need to complete one for them? 

Any advice much appreciated. 

You don`t have to do anything, but it may help in how they assess your ability to pay.