DMP mutual support thread part 13 !!

humblebee86

Hi,
I’ve seen a lot of people talking about CCA requests. Can somebody explain to me what one of these is? I’m 12 months into my dmp, currently managed by stepchange, I have 8 accounts with 6 creditors, 4 have defaulted.
I am also considering going SM as so many of you have, I gather being SM it’s easier to tweak repayments etc? Apologies for coming across as clueless, I happened upon this AMAZING thread after starting my dmp journey and rushed into it in a panic last January!

[Deleted User]

humblebee86 wrote: »

Hi,
I’ve seen a lot of people talking about CCA requests. Can somebody explain to me what one of these is? I’m 12 months into my dmp, currently managed by stepchange, I have 8 accounts with 6 creditors, 4 have defaulted.
I am also considering going SM as so many of you have, I gather being SM it’s easier to tweak repayments etc? Apologies for coming across as clueless, I happened upon this AMAZING thread after starting my dmp journey and rushed into it in a panic last January!

Welcome, humblebee:hello:. You've come to the perfect place for help and reassurance. Sorry I can't contribute much at the moment as it's very early/late for me whichever way I look at the clock:eek:. Hopefully, someone will be along later to explain about CCA requests which, incidentally, are essential IMO. There are very useful links where you can read more about them and the procedure but I won't be able to search for them for you tonight/this morning. Sorry.


Just wanted to reassure you that you are not alone in feeling 'clueless' as you put it. You certainly aren't though. There's so much we need to get our heads round when deep in debt and being on a DMP. Like you, I hadn't discovered this wonderful thread before starting my DMP and would have definitely gone about things very differently if I had. I plunged into mine in a panic as you did. I had no idea that I should build up an emergency fund and several financial setbacks in the very early days caused me a lot of problems and even more stress than I was under in pre-DMP days:eek:.

Thankfully, SC were brilliant and everything got sorted and progressed well after that. I eventually went self-managed after over 4 years with SC because I wanted more flexibility in order to save for and offer F&Fs. Otherwise I'd have stayed with SC right to the end, I can't thank them enough for all they did for me.


Good luck:beer:

snowbean

carbootcrazy wrote: »

I eventually went self-managed after over 4 years with SC because I wanted more flexibility in order to save for and offer F&Fs. Otherwise I'd have stayed with SC right to the end, I can't thank them enough for all they did for me.


Good luck:beer:

Happy new year all!

I'm about go go SM after being with SC for around 5yrs...how did you find the change CBC?

Have made f&F offers to all creditors, and had one or 2 replies at an amount which I'm considering accepting, and it dawned on me that it will be much easier to pay them off one at a time (as and when we get a good offer) if we self manage. We could keep the monthly payments the same when we move from SC to self managed, but I was considering dropping the amount a little? Is this likely to cause issues?

Willing2Learn

Hi snowbean,

If it were me, I would send a CCA request to all of my creditors before considering any full and final settlement offers. It may turn out that one or more of your creditors are not able to produce the necessary paperwork. This would confirm which debt accounts are enforceable.

paperstars

Hi all, nice to meet you.

I am a 27 year old who after many years of being in debt mainly due to depression, has decided to go down the DMP path.

PayPlan seemed the best choice for me. Although their communication is sparse when you want a quick response from them. August 2021 is when I will be debt free with them but ideally want this earlier (doesn't everyone?) and after I pay my car off and another debt with my parents in August this year, more pennies will go towards my DMP.

Has anyone else been on PayPlan and what are your thoughts? I am wanting to speak to others who are in the same boat as me so I don't feel so alone with all these debts.

Thank you in advance

Gemma

:j

January2015

motivated wrote: »

Hi all

Quick question. Our old banger car has died and we need to buy a reliable used car. Nothing expensive DH needs it and cannot work without it. We are SM our DMP and reduced our payments for a few months a while back to pay for repairs on it then. It's now costing more than it's worth.

Our creditors were fine then and we soon put our payments back up. However I'm thinking we need to reduce again for a few months. Are our creditors likely to play ball again?

Good start to the new year this is
M

Hi Motivated

My DMP payments have gone up and down and down again since we've been SM. All our creditors have been brilliant and supportive.

Just explain the problem and give them a time period that you will drop to token payments. Literally - drop to £1 per month until you sort the vehicle issue out. Write and tell them - don't ask them if it's okay.... just tell them this is what the problem is, and this is what will be happening. Assure them of your commitment to clear your debts, thank them for their support and understanding whilst you get through this difficult period, and remind them you will only correspond with them in writing and you do not give them permission to telephone you.

I've been paying token payments for over two years now. All my creditors are fine. Life interrupts and circumstances change. Creditors know that and I have found they will support you as long as you keep in touch and communicate the issues with them.

Good luck with the vehicle hunt

Girl_unknown

Question, as my credit score is messed for the next 6+ years should I make the debt repayment last at least as long as that as I just rushed into my DMP and have no emergency fund? I'm really not sure what to do for the best.... But currently I have nothing to fall back on

usedtobeblue

Hi, can you please help me. My husband is really struggling also and i may have talked him round to a dmp, but as am on one will that go against him in anyway? Will we have to do a joint plan? Are debts are not in joint names, other than the mortgage which is up to date? Thanks

usedtobeblue

Girl_unknown wrote: »

Question, as my credit score is messed for the next 6+ years should I make the debt repayment last at least as long as that as I just rushed into my DMP and have no emergency fund? I'm really not sure what to do for the best.... But currently I have nothing to fall back on

I would rather have 6 comfortable years than a couple of hard years. As you said you wont be in a position to take out any credit for 6 years so you need to have some pennies stashed away. Good luck

Willing2Learn

Girl_unknown wrote: »

Question, as my credit score is messed for the next 6+ years should I make the debt repayment last at least as long as that as I just rushed into my DMP and have no emergency fund? I'm really not sure what to do for the best.... But currently I have nothing to fall back on

Hi,

Just put the first few month's payments on hold until you have 3-6 months EF saved up. Keep your creditors in the loop though.

Have a look at the thread linked below for further guidance.
https://forums.moneysavingexpert.com/discussion/5889160/dmp