DMP mutual support thread part 13 !!

stu12345_2

tksnota said:

I received a letter from a company called Equivo Limited. I searched their website and I’m a bit confused if they are DCA or a legal entity because these 2 fields are shown.

Hope someone can provide clarification(s)

they can do both, imo, some have posted in here about reaching a payment plan with them before they go for a ccj application 

tksnota

Thanks. How about advantis? Can they do both also?

stu12345_2

i think advantis can do both , especially if it's DVLA or HMRC debts

tksnota

It is a consumer loan

stu12345_2

depends on how far they want to push for it and it's value.most consumer debts never reach court for a ccj unless they are of high value and you have an income or assets that shows you can repay it, eg you told the creditor your income or assets at some point in discussion

many folk play the game ,where debt collection companies give up, sell the debt on to another debt collection company.
these companies contact you to offer discounts, but if you don't have a lump sum, then many folk continue with the game.

they don't ever reply to the debt collection companies and let it become statue barred after 6 years of ignoring them

you can only contact them if they ever apply for a ccj, that's when you contact them with a payment plan 

some of the debt collection companies do this just before the 6 year clock runs out

sourcrates

tksnota said:

I received a letter from a company called Equivo Limited. I searched their website and I’m a bit confused if they are DCA or a legal entity because these 2 fields are shown.

Hope someone can provide clarification(s)

They appear to be a firm of solicitors, they are regulated by the SRA so it says.

Sly72

tksnota said:

I received a letter from a company called Equivo Limited. I searched their website and I’m a bit confused if they are DCA or a legal entity because these 2 fields are shown.

Hope someone can provide clarification(s)

Hi Equivo Limited are legal entity, my experience with them is they claim the client has a policy that payment should be made with a set period to avoid CCJ, but so far, they cannot provide the evidence to support this, nore can the client. So had to arrange a payment to avoid a CCJ (linked to employment) which is impacting me. If anyone can advise on this situation FCA / Legal guidance as all my other’s defaulted debts have accepted my payment offer.

Ex_welsh_borrower

Just checking in with my DMP progress as I don't post a lot mainly just lurk on here picking up good advice commenting here and there. Just updated my signature with my latest totals and been on my now self-managed DMP for about 3 1/2 years. Debt is down to just under 27k from an original 51k so closing in on half of it paid 3 out of the 9 original creditors are now paid off too.

Anyone else really enjoy updating the signature with their totals

gerrard88

So 1 of my 4 cards now been passed to agency

Pastdue credit solutions from Sainsburys

what do I do if I want to do DMP
With step change?

contact this company or wait until my other cards are defaulted?

any advice greatly appreciated. Thanks

sourcrates

gerrard88 said:

So 1 of my 4 cards now been passed to agency

Pastdue credit solutions from Sainsburys

what do I do if I want to do DMP
With step change?

contact this company or wait until my other cards are defaulted?

any advice greatly appreciated. Thanks

Depends what you mean by "passed to agency"?

Has it defaulted? has the debt been equitably assigned to this company or sold to them?

What exactly does the letter say, do they refer to "their client" at all?.

If a stepchange DMP is your goal, then you might as well start it with them now, if you want to do things their way, that`s your choice, defaults will happen eventually whatever course of action you take, I note you have asked this same question on the stepchange debt advisors thread.