Please help me, letter from SC

MovingForwards

Your credit score with go up / down with any change, but it's not seen or used by any financial institution in the UK as they have their own internal algorithm for scoring applications based on the credit history.

A default stays on your credit history for 6 years from the date it was put on.

AP markers stay for 6 years from the date it's paid off and closed.

Robert85

MovingForwards said:

Your credit score with go up / down with any change, but it's not seen or used by any financial institution in the UK as they have their own internal algorithm for scoring applications based on the credit history.

A default stays on your credit history for 6 years from the date it was put on.

AP markers stay for 6 years from the date it's paid off and closed.

Thank you for answer @Mov@MovingForwards

Pretty much I understand. 
I hope to pay off the debt asap in the end of 2021, December.
Quicker I pay off it, quicker I can foucs and start savings for food reasons like mortgage etc. 

I hope I will anable. I'm 35 year old so six years isn't a big gap tbh.

So now I need to be focus what TSB Bankiem decide and work with SC, let them handle with it 
Is that right?

Thank you for your time. 

MovingForwards

@Robert85 let SC do their thing, anytime you get a letter from a creditor send it to SC and follow up with SC if necessary (eg they want more money etc).

With TSB SC will keep paying them, TSB will say they don't accept the offer and it will go round in circles. 

Let them get on with it 😁

IF anything comes through the post you don't like the look of, not happy with the contents eg a threat to take you to court (unlikely), post again on here and urgently refer it to SC.

I was paying my debts off and saving at the same time, my goal was to get a mortgage (my marriage broke down and I moved to start over again). For me it felt better knowing I was saving as the debt was reducing.
I'm 9 years older than you, the last 5 years have flown by with my CCJ / defaults etc and it felt like the end of the world at the time, but it wasn't, I'm still here, difference is I've my feet up in my home and it was all worth it and I stick to my budget as I learned a lot from my former life.

sourcrates

You can tend to overthink these things, just keep making your payments, SC will do the rest, don`t fret about credit files etc, all that will heal with time, the important thing is getting the debt reduced, and not having to worry about making payments.

I`m sure you will be fine.

Robert85

@MovingForwards
@sourcrates

Thank you very much for all those words and support. 
I really need that tbh. I appreciate it. Really appreciate it. 

Today I have got email from SC, they sent to TSB Bank a new Debt Repayment Proposals and also I have got a letter from TSB. I believe I need to ignore this letter or contact with SC on phone or send it to them? 

MovingForwards

It's included in your plan with SC? So no need to do anything as they will be aware the temp O/D is reducing, it will get removed as will any agreed O/D.
Just a standard template letter to you.

Have you opened a bank account with a different provider as the T&C's of current accounts allow them to take money in your accounts with them to pay towards debts.

Robert85

@MovingForwards
I think, it is included with SC but only for first 12 months DMP Plan, what I have been told by TSB on phone. They can not extended it again. 
Following the steps by SC, I did open the a bank account in different branch - Halifax and only SC is allow to take a monthly payment to pay off a debt m

MovingForwards

@Robert85 ignore what TSB are saying about it only being for 12 months.
What usually happens with SC is an annual review of your income / outgoings, a new plan (if financial circumstances have changed) is sent to all creditors saying how much will be paid to them.

Will you please breathe 😉

(Remove the photo as it has your surname 🤫 )

Robert85

MovingForwards said:

@Robert85 ignore what TSB are saying about it only being for 12 months.
What usually happens with SC is an annual review of your income / outgoings, a new plan (if financial circumstances have changed) is sent to all creditors saying how much will be paid to them.

Will you please breathe 😉

(Remove the photo as it has your surname 🤫 )

@Movi@MovingForwards
Yes, excatly what you saying to me. 
I did an annual review with SC in June, 2021 and I set up a new DMP. I did increase it from £266 up to £275 a month.
Thank you for help. 😊

MovingForwards

Most welcome, now go and enjoy your evening @Robert85 🤗