Next DCA help please

TheDebtFretter

Hi all
My self managed DMP is about to start next month. Only one creditor (out of 6) has defaulted since I stopped making payments in August 2019.

Next have sent several letters threatening default but as yet have not actually done it. Yesterday I received an email and a text saying that the debt is now with Brecon Debt Collectors, neither have any other contact details than phone numbers (I have made it clear in all communications that I will deal with letter only, I fall apart on the phone) I am in a position to write to them with a monthly payment offer....should I do this? Or wait until the account actually defaults....they are still adding interest. I have googled Brecon and it appears they are part of Next so I assume they are internal recoveries, it doesn't look like the debt has been sold on. I don't want to make an arrangement to pay a monthly amount if they are going to continue to add interest as the payment I can afford doesn't even cover the interest currently being added.

Many thanks in advance.

sourcrates

Wait till it’s sold.
Until that happens your going to get a succession of collectors contacting you, if one can’t get money from you, it gets passed to another, and so on.

Once it’s defaulted and sold, you get more stability, all interest is stopped, and the debt is likely to stay with the debt purchaser.

fatbelly

Creditors are supposed to default you after 3-6 missed payments. I would expect the others to fall into line before the end of March.

I would generally to wait until it's defaulted. Most catalogue companies do sell their debts fairly quickly but not sure about Next.