DMP mutual support thread part 13 !!

sourcrates

PRA Group, the debt purchasing company most apposed to discounts, has made a loss recently, well, not a loss exactly, just less profit than expected shall we say, and their response has been to off load debts at discount prices, just to raise capital.

PRA`s customer base couldn`t believe it when offers of 50/60% off were thrown at them.

So you never can truly predict what will happen in this game.

ManyWays

Have you tried asking for the CCA agreements for the debts that have been sold?

See

Credit agreements | Getting information | National Debtline

towerofsong

Hi everyone, I’m on a DMP and have been getting the usual arrears letters, however I did receive a letter from NatWest today with the words ‘formal demand’ and ‘action required’ stating that I have not fully repaid my arrears and the full loan amount needs to be paid now. Do I need to take action with this one? StepChange is dealing with my DMP. Thanks

AgentBigBoss

You don’t need to take any action if Your intention is to default this account. Unless You want to fully pay the loan.

sourcrates

https://forums.moneysavingexpert.com/discussion/comment/82028741#Comment_82028741

Relax, its a statutory notice they have sent you, you are already taking action by repaying the debt via a DMP.

Unless you have the funds to repay the debt in full, there is no other action you can take now is there.

Just for the sake of any doubt, debt management is an informal debt solution, which allows you to repay your debts at a reduced rate according to your disposable income, you will get statutory letters the bank must send you under the terms of your agreement, this is all part of the default process.

Debtfree30s

hi all,

I filled in the Stepchange form yesterday and submitted, when should I hear back? Thanks