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DMP mutual support thread part 13 !!

edited 13 March 2019 at 10:03AM in Debt-Free Wannabe
3.2K replies 461.6K views
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  • ash28ash28 Forumite
    1.8K posts
    Mortgage-free Glee! Debt-free and Proud!
    sourcrates wrote: »
    Never, ever assume anything.


    Barclaycard can provide a reconstituted copy, so its likely that agreement is enforceable.


    Capital one however may not be, many years ago an application form did once double as a credit agreement, but in the majority of cases an application form, does not constitute a credit agreement.


    Thanks for your reply sourcrates, I thought the Barclaycard one might be unenforceable because it was taken out in the late 90s as an Egg card and most of them seem to be unenforceable....but perhaps it is enforceable. I shall try and find out.


    I did think the stuff from Capital One was ok....they said it was enforceable but shall try and find out whether it really is or not.


    Thanks again.
  • ash28 wrote: »
    Thanks for your reply sourcrates, I thought the Barclaycard one might be unenforceable because it was taken out in the late 90s as an Egg card and most of them seem to be unenforceable....but perhaps it is enforceable. I shall try and find out.


    I did think the stuff from Capital One was ok....they said it was enforceable but shall try and find out whether it really is or not.


    Thanks again.

    Don't necessarily take the creditor's word that a debt is enforceable;). One of my creditors told me that my debt with them was but when I had it checked out (because of the age of it) it turned out it was actually UE:eek:

    For some reason links to the site don't work but I strongly advise you to have a look at the All About Debt website. there's a section devoted to unenforceability and they will scrutinise your paperwork free of charge if you send it via their secure system to a legal expert.
  • ash28ash28 Forumite
    1.8K posts
    Mortgage-free Glee! Debt-free and Proud!
    Don't necessarily take the creditor's word that a debt is enforceable;). One of my creditors told me that my debt with them was but when I had it checked out (because of the age of it) it turned out it was actually UE:eek:

    For some reason links to the site don't work but I strongly advise you to have a look at the All About Debt website. there's a section devoted to unenforceability and they will scrutinise your paperwork free of charge if you send it via their secure system to a legal expert.


    Thanks carbootcrazy, I will get them both checked on All About Debt, probably tomorrow.



    Capital One is from 2000 and Barclaycard (Egg) from around 1997/8 or thereabouts.



    Thanks again.
  • sourcratessourcrates Forumite, Board Guide
    21K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
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    ash28 wrote: »
    Capital One is from 2000 and Barclaycard (Egg) from around 1997/8 or thereabouts.
    Thanks again.


    In which case reconstituted is still acceptable, but both would require the inclusion of the prescribed terms in force at the time of signing, which is where most creditors fall short.
    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.
  • Im sorry for all these questions but i want to help my hubby as best i can before he starts.
    He has a credit card with 0 balance at the minute, would it make sense to keep this open or just close it?
    Also he has a credit card with approx £5k remaining balance, would it be best to use this now to change our car (our car is on its last legs) and then for him to go into his dmp, or will the credit card refuse as hes going to rack up more debts prior to starting?
    i just want to do whats best for us. Im already in a dmp so getting a car loan is going to be out of the question for the foreseable future (i have approx 5/6 years left) My husbands dmp will be in and around the same length of time. Thanks in advance.
    learning to live again, slowly but determined £30k in debt, but dealing with it and proud
  • Has anyonr had issies with Lending Stream and getting them to issue a default. Ive been making. Dmp/token payments toqards my debts with them. Since jan 3016 and they are feusing to defailt and say the are doing things correctly, i have it recorded as a dmp on my credit file until Oct 2017 and since then i am showing as 6 months late payment every month.

    Any tips for encouraging them to default? Everyone else has so its annoying that they wont.

    Thanks
  • Humblebee. Its not to bad going self managed. First thing though get all your amounts and reference numbers and who you owe money to from stepchange. Next decide what you want your budget to be/what you want to
    offer everyone. Debtline has an online budget/formula to work it out for you if you want to use that. (Stepchange work it out in a completely different way.) Experiment with your budget a bit and make sure you include anything and everything. If you want to offer x for so many months just put that in the letter. I rang/emailed mine and wrote to hubbys. I just wrote that i am going self managed gave a copy of the new budget and said im offering x amount from now on and it will begin on such a date.
    When i rang stepchange to cancel with them they were absolutely fine, checked i was okay and I had a plan and basically said good luck but the doors still open. Once you cancel you dont have access to the online info so a notepad with a page for each debt to record what youve done will help keep you organised.

    Thank you for your advice! :T i have sent emails/ letters to all of my creditors indicating that i would be going SM, and that i will be offering token payments of £1/month for 6 months. Im a little nervous now, am expecting bailiffs at the door but i know realistically it wont happen (i hope!) Hoping to hear back soon.

    Have a good day everyone :j
  • sourcratessourcrates Forumite, Board Guide
    21K posts
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    Im a little nervous now, am expecting bailiffs at the door but i know realistically it wont happen (i hope!) Hoping to hear back soon.

    Have a good day everyone :j

    Hi,

    Please try to keep a sense of realism here, there is a long legal process to go through before a bailiff can be knocking on your door, a CCJ has to be granted against you first, you then have to default on those payments, only then can a bailiff even be considered.

    You are a million miles away from that.
    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.
  • lulabelle01lulabelle01 Forumite
    48 posts
    10 Posts First Anniversary
    I’ve not made any payments to my cards since September/October. I sent letters and offers for monthly payments which have been accepted and both companies I’m dealing with have said they’ll default me but it hasn’t happened yet. I’m in a position now to start making payments but am I best to hold off until the defaults have been issued or should I start making payments now?
  • HonestSHonestS Forumite
    49 posts
    Hi I’m a newbie and have been reading lots on here today. This thread is fascinating and a wealth of knowledge. Thank you, I already feel calmer.

    I’m starting a DMP and will self manage so am sure I’ll be asking lots of questions in the coming months. I was advised to use the first 3-6 months of frozen accounts to build an emergency fund but was wondering how you get them to freeze the accounts for 3-6 months? I mostly see people say that they’ll be frozen for 30 days.

    I’ve cancelled all my creditor DDs which feels like a first step and I’ll be sending out my first round of letters in the next few days using NEDCAB and adding the reference. If I could get a few months to build an emergency fund I really could relax as I’d be able to get a comfortable amount.

    Thanks in advance
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