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DMP mutual support thread part 13 !!

edited 13 March 2019 at 10:03AM in Debt-Free Wannabe
3.4K replies 475.2K views
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  • 2017spark2017spark Forumite
    49 posts
    Third Anniversary 10 Posts Combo Breaker
    Thank you! I've been having a search on them and know they are American - but didn't know they were going through their own crisis!
    I have previously made them an offer of payment, and requested details in order to make payments which they will not supply. I asked them to pass my account onto a DCA in order to make payments but have heard nothing, this was a few months ago.
    I think I will send one further letter along with the others offering payment against my debts for my DMP and I cant do much more....
    On their website they will only allow payment by adding my debit card details to their database and I'm not sure I trust them to stick to my payment schedule, id rather I set up a SO or direct transfer to them
    Thanks for your help!
    sourcrates wrote: »
    Hi,


    Yes they are an American company and are quite evasive to deal with, they have recently been through a cash crisis which saw them settling loan accounts at a fraction of what was owed, in an attempt to bolster there cash reserves.

    Although they operate in the UK under FCA license, and are subject to the same laws and rules as any other financial institution operating in the UK, but they tend to run the business along American methods of working, which differ greatly to our own.

    You could do nothing, in time the account will be sold on, or, you can still make the suggested payments to them, they wont not accept them, and this, if anything, will even quicken the sale process.
  • yoyo33yoyo33 Forumite
    20 posts
    Ninth Anniversary Combo Breaker
    Hi all.
    I'm going to be starting a dmp in the next couple of months. I'm going to be self employed (had to leave my other job due to childcare) and been advised I need to go through business dept due to being self employed. I have spoken to them and they were very helpful etc. But I have to have 3 months of self employed work before they work out a dmp plan. I would be setting up a joint dmp with my husband who has a fairly good wage. But I've been told would still need to be set up through business dept side of as as I'm self employed. Even though my income will be low to start with.
    They also said because my husband gets a regular bonus. But it fluctuates very much. They said they will work it out over a year to get an average.
    I really want to get it all moving now as worried about delaying normal payments ro creditors. But just wondered if anyone has any advice or experience of a dmp when self employed. Or a dmp when getting a regular bonus As I can't find much on the forum regarding this.
    Also i want to set up a emergency fund
    But worried they will want to take this when the dmp is first set up. But really want to have some money put to one side just incase. Thanks for and advice. :-)
  • Hi all - been lurking and reading and trying to get my head around DMPland... you lot on here are actually amazing! I doff my cap to you.

    Me and my wife are both likely to go this route as we're both running out of credit and the ability to meet our minimum payments, and have been robbing peter to pay paul and are pretty much at our wits end. We rent, no mortgage, and manage all our finances seperately though we tend to divvy joint things up 50/50 apart from rent, which I pay most of as I earn more..

    She'll probably go first, and wants to go managed, and as she has a small amount of her income from self employed nannying SC wouldn't touch her and referred her to Business debt line, which seems to be part of national debt line.. fair enough. But all the forms, (and nedcab too as far as I can tell) seem to require full joint household income/outgoings... I don't want to do a Joint DMP as I want to do self managed.

    so on her form do we put (say) £250/mo husband managing his own damn debts as an 'essential outgoing'? (and vice versa)

    And also, on her forms do we outline my level of debt? (and vice versa)

    working through the forms and trying to be realistic/generous/at least not too austere with our outgoing figures it looks as if the outgoings are greater than the income.. would that be normal? I mean, that's why we're in this stressful debt spiraling... but if that's the situation how do they allot an amount for paying off predators?

    p.s. I'm not yoyo's husband, although her post just above here seems amazingly similar!
  • yoyo33yoyo33 Forumite
    20 posts
    Ninth Anniversary Combo Breaker
    p.s. I'm not yoyo's husband, although her post just above here seems amazingly similar![/QUOTE]

    Haha. How funny. I agree very similar situation.
    We would have separate dmps but we have a joint loan with nram to include and was told it would have to be a joint dmp due to this 🤷!♀️. I might look into that a bit more . Good luck with yours 👍
  • Suseka97Suseka97 Forumite
    1.1K posts
    1,000 Posts Fifth Anniversary Name Dropper
    ✭✭✭
    2017spark wrote: »
    ......I have previously made them an offer of payment, and requested details in order to make payments which they will not supply. I asked them to pass my account onto a DCA in order to make payments but have heard nothing, this was a few months ago.
    I think I will send one further letter along with the others offering payment against my debts for my DMP and I cant do much more....
    On their website they will only allow payment by adding my debit card details to their database and I'm not sure I trust them to stick to my payment schedule, id rather I set up a SO or direct transfer to them.

    They sound like a real pain to deal with. I'd do as you suggest and write one more letter with your offer of payment, stating clearly that it will be your last offer and that they must provide payment details. They'll probably continue to ignore and hopefully sell the debt on - but if they did attempt to escalate collection activity, you'll have definitive proof of your attempts to resolve the situation. I would also never give a DCA my debit card information because cancelling that type of payment is a nightmare. I once made the mistake of giving my card details to an online retailer not realising (in the teeny tiny small print) I was actually subscribing to some sort of regular payment for future products. It took quite a few phone calls to my bank (and a good deal of time) to get them to cancel it!
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • Hi,

    I have been on a DMP with Step Change for the last 9 months paying £127 off debt which totals just over £8000.

    My debtors are as follows

    PRA group £2700 ( orignally Barclay Loan)
    Intrum £5400 (originally Barclay card)
    Barlcays unsecured overdraft £270


    I have recently been awarded some money from criminal injuries compensation authority and am wanting to pay off my debt as cheaply as possible by offering a full and final settlement lower than the amount owed.

    I have emailed PRA and Intrum to ask for a copy of my credit agreement. They have both replied saying that they will contact the original lender and get back to me. Intrum wouldnt ask for the agreement until I told them why I wanted it. I told them the reason, I’m not sure if this was a good idea or not, but it’s done now. I didn't contact Barlcays re the overdraft I thought that there is no point, not sure If I am right on that one

    I defaulted on the debt in Jan 2014, I can’t remember when it was originally taken out, I think at least 2012.

    What I would like to know is if I should try to start negotiating with them now or if I should wait for a response to my request for a copy of the credit agreement. I am not very good a sitting tight and I am very keen to get the matter sorted and move on with my life.

    Also is there any way that they can find out how much compensation I was awarded? Should I put the money elsewhere for the time being?


    Any help you could give me with the above would be gratefully received

    Thanks to everyone who posts on here. Good to know I'm not alone.

    Marie
  • [Deleted User][Deleted User]
    0 posts
    MoneySaving Newbie
    I've just come on here to let off steam:o

    After years of having contact only by letter as I requested I had a phone call today from Link Financial (who own both my MBNA debts). I was out so someone left a message on the landline answerphone asking for me by name to phone them and giving their name as link Financial. Of course just my luck today for OH to get into the house first whilst I was getting the shopping out of the car and listen to the message.


    Luckily the caller didn't give any details why she was trying to contact me but of course OH was insistent on knowing who Link Financial are:eek:. Given that I have told him nothing about my debts or DMP I was very annoyed indeed that someone should phone me at this stage:mad:. I think managed to fob him off.


    I'm tempted to ring back on the number she gave just to let her know that I strictly forbade contact by phone but I don't feel up to it. The whole thing has unsettled me to be honest. Doesn't take much does it? I'm also very curious to know what was so urgent and hope it might be a settlement offer. I haven't made any initial contact about one yet and don't even know if they phone to offer settlements at all. I've been paying token £1 a month for over a year now. Maybe they just want to review things.


    Sorry about the rant:o
  • edited 25 September 2018 at 4:25PM
    sourcratessourcrates Forumite, Board Guide
    21.7K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    edited 25 September 2018 at 4:25PM
    Walker42 wrote: »
    Hi,

    I have been on a DMP with Step Change for the last 9 months paying £127 off debt which totals just over £8000.

    My debtors are as follows

    PRA group £2700 ( orignally Barclay Loan)
    Intrum £5400 (originally Barclay card)
    Barlcays unsecured overdraft £270


    I have recently been awarded some money from criminal injuries compensation authority and am wanting to pay off my debt as cheaply as possible by offering a full and final settlement lower than the amount owed.

    I have emailed PRA and Intrum to ask for a copy of my credit agreement. They have both replied saying that they will contact the original lender and get back to me. Intrum wouldnt ask for the agreement until I told them why I wanted it. I told them the reason, I’m not sure if this was a good idea or not, but it’s done now. I didn't contact Barlcays re the overdraft I thought that there is no point, not sure If I am right on that one

    I defaulted on the debt in Jan 2014, I can’t remember when it was originally taken out, I think at least 2012.

    What I would like to know is if I should try to start negotiating with them now or if I should wait for a response to my request for a copy of the credit agreement. I am not very good a sitting tight and I am very keen to get the matter sorted and move on with my life.

    Also is there any way that they can find out how much compensation I was awarded? Should I put the money elsewhere for the time being?


    Any help you could give me with the above would be gratefully received

    Thanks to everyone who posts on here. Good to know I'm not alone.

    Marie


    Hi,


    Best practice is to wait for a response to your CCA requests first.

    If you have a current account a snapshot of your balance appears on your credit file.
    But they can only credit check you with permission.
    You have a statutory right to a copy of your credit agreement at any time, please remember that.


    A basic account always shows a zero balance.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • January2015January2015 Forumite
    2.4K posts
    Fifth Anniversary Combo Breaker
    ✭✭✭✭
    I've just come on here to let off steam:o

    After years of having contact only by letter as I requested I had a phone call today from Link Financial (who own both my MBNA debts). I was out so someone left a message on the landline answerphone asking for me by name to phone them and giving their name as link Financial. Of course just my luck today for OH to get into the house first whilst I was getting the shopping out of the car and listen to the message.


    Luckily the caller didn't give any details why she was trying to contact me but of course OH was insistent on knowing who Link Financial are:eek:. Given that I have told him nothing about my debts or DMP I was very annoyed indeed that someone should phone me at this stage:mad:. I think managed to fob him off.


    I'm tempted to ring back on the number she gave just to let her know that I strictly forbade contact by phone but I don't feel up to it. The whole thing has unsettled me to be honest. Doesn't take much does it? I'm also very curious to know what was so urgent and hope it might be a settlement offer. I haven't made any initial contact about one yet and don't even know if they phone to offer settlements at all. I've been paying token £1 a month for over a year now. Maybe they just want to review things.


    Sorry about the rant:o

    Oh I feel so cross for you :mad: Excuse the French.... what utter #@!**#@%$ (input characters to ensure I don't get banned ;) )
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: I'm driving it down:j
    £1k emergency fund (member #84:j) £1k/£1k
  • Suseka97Suseka97 Forumite
    1.1K posts
    1,000 Posts Fifth Anniversary Name Dropper
    ✭✭✭
    I've just come on here to let off steam:o
    ......I'm tempted to ring back on the number she gave just to let her know that I strictly forbade contact by phone but I don't feel up to it. The whole thing has unsettled me to be honest. Doesn't take much does it? I'm also very curious to know what was so urgent and hope it might be a settlement offer. I haven't made any initial contact about one yet and don't even know if they phone to offer settlements at all. I've been paying token £1 a month for over a year now. Maybe they just want to review things.
    Sorry about the rant:o

    Rant away CBC - I'm so sorry to hear this and pretty damn angry on your behalf :mad:

    What I would do, when you feel up to it - is to call them and basically state that if they contact you again via any means other than in writing you will report them to the ICO. That should rattle them. Or you could contact them via email and say the same, if you don't feel up to a call. My husband was getting pestered by phone calls to his mobile and whilst he has blocked their number, it still meant they could leave voice messages. I emailed their offices warning them I had a log of all attempts to contact him and that one more message would result in a complaint to the ICO - we haven't had a voice message since.

    I somehow doubt they are calling you for any reason other than to pressurise you to increase your payments. They are a shambles outfit. Are these ones enforceable? I think you have CCA'd those ones, yes. My OHs are enforceable, but I've held off paying anything and the latest letters have offered 10% discounts - its a start :D
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