DMP mutual support thread part 13 !!

LeedsOnTheUp

sourcrates said:

LeedsOnTheUp said:

Hello all. I am on a self-managed DMP and have managed to set up payments to creditors that I can afford (£120 a month on debts of around £30000). I am due to get a pay increase of around £15000 per year later on this year but I don't really want to tell the creditors that. What are my options here? I don't think I can outright lie about what I am being paid but could I perhaps, take up smoking cigarettes instead of vaping, which hypothetically would cost a lot more money and leave me less to pay out? I would prefer to save the money for F&F than increase payments.

Debt management is an informal arrangement, you are under no obligation to tell them anything, let alone what you earn, its basically non of their business.

Save the money and do as you wish, you don`t have to tell anyone, especially your creditors.

Sourcrates you are the undisputed OG

Makingabobor2

sourcrates said:

LeedsOnTheUp said:

Hello all. I am on a self-managed DMP and have managed to set up payments to creditors that I can afford (£120 a month on debts of around £30000). I am due to get a pay increase of around £15000 per year later on this year but I don't really want to tell the creditors that. What are my options here? I don't think I can outright lie about what I am being paid but could I perhaps, take up smoking cigarettes instead of vaping, which hypothetically would cost a lot more money and leave me less to pay out? I would prefer to save the money for F&F than increase payments.

Debt management is an informal arrangement, you are under no obligation to tell them anything, let alone what you earn, its basically non of their business.

Save the money and do as you wish, you don`t have to tell anyone, especially your creditors.

And yet, when we made a F&F offer the other week, through W*sc*t, but still owned by L!nk apparently. They wouldn't even consider it, until I had filled in a I&E form, detailing wages, pension, all outgoings and other debts.  Then decided that even though we still have over £30K of debts, they could only accept an F&F that was £1k lower than the total debt!  How they thought we could afford that, is beyond me

Bowmonster

Hello, anyone got any experience of Pastdue Credit Solutions and Sainsbury's loan? Thanks!

sourcrates

Bowmonster said:

Hello, anyone got any experience of Pastdue Credit Solutions and Sainsbury's loan? Thanks!

In what sense, what is it you want to know?

Bowmonster

sourcrates said:

Bowmonster said:

Hello, anyone got any experience of Pastdue Credit Solutions and Sainsbury's loan? Thanks!

In what sense, what is it you want to know?

Basically just how easy/difficult they are to deal with as I've never heard of them or encountered them before. Thanks!

sourcrates

Bowmonster said:

sourcrates said:

Bowmonster said:

Hello, anyone got any experience of Pastdue Credit Solutions and Sainsbury's loan? Thanks!

In what sense, what is it you want to know?

Basically just how easy/difficult they are to deal with as I've never heard of them or encountered them before. Thanks!

Most lenders/debt collectors follow very similar collection strategies, a mixture of letters and calls, one company will act very much the same as any other, as they all follow the same debt collection guidance contained in the CONC FCA handbook, and you always have the statutory right to make a complaint if you feel you have been treated unfairly.

saving_88

Hello again, i know i post a lot. So finally all creditors have defaulted. Im thinking of going self managed and pay the minimum token amount now and cancelling the DMP with Stepchange. Stepchange are brilliant i do say. But i want to save more, Pay less to creditors. 

Would paying less cause CCj etc. I have no assets for creditors to chase. 

Teaandbiscuits21

saving_88 said:

Hello again, i know i post a lot. So finally all creditors have defaulted. Im thinking of going self managed and pay the minimum token amount now and cancelling the DMP with Stepchange. Stepchange are brilliant i do say. But i want to save more, Pay less to creditors. 

Would paying less cause CCj etc. I have no assets for creditors to chase. 

Also Interested in this 

sourcrates

saving_88 said:

Hello again, i know i post a lot. So finally all creditors have defaulted. Im thinking of going self managed and pay the minimum token amount now and cancelling the DMP with Stepchange. Stepchange are brilliant i do say. But i want to save more, Pay less to creditors. 

Would paying less cause CCj etc. I have no assets for creditors to chase. 

Teaandbiscuits21 said:

saving_88 said:

Hello again, i know i post a lot. So finally all creditors have defaulted. Im thinking of going self managed and pay the minimum token amount now and cancelling the DMP with Stepchange. Stepchange are brilliant i do say. But i want to save more, Pay less to creditors. 

Would paying less cause CCj etc. I have no assets for creditors to chase. 

Also Interested in this 

You pay according to your available budget, whatever that maybe.

The vast majority of lenders/collectors will accept that without question.

Legal action is mainly taken against those who fail to make any payments long term, and refuse all contact.

Also certain credit unions first response can be legal action, as they take a much more rigorous line than mainstream lenders do.

On the whole, if your paying what is affordable, then legal action will not happen, even court judgements are subject to affordability, if you can`t afford it, the court won`t impose a minimum payment.

lc2405

Hi. Just after some advice. I am waiting for accounts to default to then self manage a dmp. I have had messages off Wescot saying they now manage account on behalf of PayPal and drs too saying same for Klarna. Are these just managing it for them and not defaulted? Anyone had dealings with these before? They have sent links to their sites to set up payment plans etc