DMP mutual support thread part 13 !!

stu12345_2

if the other cards haven't defaulted, hold back with step change as step change will start the repayment ball rolling with all creditors, regardless if they have defaulted or not.
thats important cos making payment on non defaulted debts slows down the default to happen!

that's important as the non defaulted ones will have arrangement to pay markers in your credit file.

just pay the defaulted one directly, then wait for the others to default, pay each one pro rata based in your total free left over income you can afford.

then and only once they have all defaulted consider step change, but at that point you will have been doing fine with your direct payments to all the ones that have defaulted anyway

gerrard88

Ah great thanks. So just contact them and arrange to pay then very little for now?

stu12345_2

pay as little as you want, and see how they react, cos as the others default and you repay them you will have to keep spreading out what you can afford to give amongst more and more creditors.

so each one will get less  and less out of your available money you can give, you understand 

stu12345_2

eg let's say you can afford £20 to each, so don't offer the first defaulted one £80, just offer £20 cos eventually each one will only get £20 and save up the money you aren't paying yet on the non defaulted ones until they do default, by that point you will also have a pot of emergency savings saved up ,

all for yourself to do with you please 

then you start making £20 to them as they default 

important, before you make an offer to the  defaulted debt that has been SOLD, ASSIGNED to this dca first ask this dca for a copy of the cca agreement, not only will this stop you having to make payments to them as they hunt for the cca, they don't expect payment whilst they are searching for the cca, there is a chance the debt never got sold on with the cca , which makes the debt unenforceable and you can't be forced to pay it ever 

gerrard88

That is great thanks! Altough bit confused on the bottom bit

important, before you make an offers to the  defaulted debt that has been SOLD, ASSIGNED to this dca , first ask this dva for a copy vid the cca agreement, not only will this stop you having to make payments to them as they hunt for the cca, they don't expect payment whilst they are searching for the cca, there is a chance the debt never got sold on with the cca , which makes the debt unenforceable and you can't be forced to pay it ever 

stu12345_2

when a debt is sold on eg assigned to a new debt buyer, eg a DCA, not just using them , but properly sold on and using them.

the debt and all the paperwork that goes with it to the new buyer, the DCA, doesn't always go with it.

often it's just the debt and it's value that's sold on without any paperwork of the agreement you signed years ago when you took the debt on.

so you write a letter  to the dca with a £1 cheque or postal order recorded  delivery to cover their costs, (they usually return your uncashed cheque,  postal order)and ask for a copy of your consumer credit agreement and a statement under the law of the consumer credit act.

they have to find and produce this otherwise they have bought a debt from Sainsbury's without your original agreement.

if they can't find it or produce it ever, then can never enforce it in court eh a ccj and they vhave wasted their money buying a debt that never had all the right paperwork from Sainsbury's 

stu12345_2

this explains 
https://debtcamel.co.uk/ask-cca-agreement-for-debt/

saving_88

Morning all, 
Im on A DMP for a year now. 2 debts have defaulted. Drafty agreed to the plan, Cashasap too. But two cards have not, they keep reporting arrears. 
I'm wondering should i lower the DMP payments to force a default. Missed payments are worse for credit rating etc. My only worry is that if i lower payments the other creditors may be like we don't like that and maybe decide not to proceed with the plan. Last thing i need is court cases etc. 

Should i just stick it out and hope for a default soon, Lower payments to force them to default, or Stop payments. Stopping payments may risk the other creditors that default and have agreed?

Floss

@saving_88 are you on a self managed DMP? If so, keep paying everyone their usual amount & stop the ones who haven't defaulted.

saving_88

Floss said:

@saving_88 are you on a self managed DMP? If so, keep paying everyone their usual amount & stop the ones who haven't defaulted.

No, I am with Step change. I went with Step change from day one. Before i discovered this Forum i thought id go with Step change as i was wary of Court action etc. To me being on a plan was advised helps if creditors take this step.  Discovering this forum, people say the best way is default first. wish i knew that. Im thinking to not pay this month or reduce my payments.