DMP mutual support thread part 13 !!

ArtyJ931

I have folded over the personal information at the top. My credit file isn’t showing a default yet - is this debt defaulted? Don’t want to delay the default by accident. Thanks

sourcrates

No way of knowing from that letter, just wait until the default is registered on your credit file before you do anything.

EcoMeCB

I've got two smaller debts one with Argos one with Very. They're both with debt collection agencies and they are paid through a DMP with SC. However, I'm still receiving monthly statements from the original companies and they're not shown as defaulted on my credit report. They're also coming up twice once under the original companies and once under debt collection agencies. Is this right or has something gone wrong?

sourcrates

https://forums.moneysavingexpert.com/discussion/comment/82140614#Comment_82140614

Sounds like both accounts have been sold to me.

Its quite normal for the original entry to be shown alongside the entry from the new owner.

The original entry balance should show the date of default and a zero balance, the new entry should show the same date of default and the outstanding balance.

If they are not showing as in default, how are they marked?

Norfolk_Jim

Is PRA struggling financially. This week I've received individual letters for 3 of my debts they own offering 50% off in F&F if I pay up now.

Do they imagine I'm somehow hiding money from them and I have somehow got £12500 they can tempt out of me with an incredible offer considering its PRA

sourcrates

https://forums.moneysavingexpert.com/discussion/comment/82171488#Comment_82171488

There was a thread about this some weeks ago, the company has underperformed in some markets of late, this has had a knock on affect on their profits.

Some people have been offered much more generous settlement offers than PRA would normally agree too.

Makingabobor2

https://forums.moneysavingexpert.com/discussion/comment/82171550#Comment_82171550

I wish L!*k & C*b*t would do the same.

LastLevel

Hello,

Has anyone withdrawn cash from their credit cards to start an emergency fund before stopping payments to get the defaults and start self managed DMP? Were there any issues?

FWIW the credit cards have been open many years not new, no missed payments so far and withdrawal would total around £3k.

I'm mostly worried from reading online about CIFAS markers, how likely would that be? Would making one more minimum payment to the cards after the withdrawals make any difference?

Thanks.

Makingabobor2

Never done it, but sounds like a bad idea to me. Using credit to start an EF? You can start building the EF once you stop the payments to debts & while waiting for your payment plans to be set up

sourcrates

I`ve heard of people withdrawing cash on a credit card to pay their bankruptcy fee in the past.

It depends on your situation, if you haven`t any cash until payday, and payday is a month away, then yes I would do it, but just to add to a rainy day fund, no not really, you`re just adding unnecessary debt.