DMP / Defaults

DebtHurricane

Really torn about how to move forward. I have been saving EF and want to start a DMP with SC for a low amount, and then save up some money each month to gradually offer settlement figures to clear the debt one by one. By paying a low DMP amount I am hoping the creditors will end up settling for less, therefore getting out of debt faster.

Issue is: I have 9 creditors and 3 of them have not defaulted me. Formal complaints have gone nowhere (although I can still take them to the FOS but the wait will be long). The options I feel I have are:

1) start the DMP with SC but don't include the 3 debts that haven't defaulted (don't pay and hope they default)
2) start DMP with every creditor included and just forget about the AR markers on my file
3) delay doing any DMP and only pay the defaulted ones £1 a month (but how long do I keep waiting)

It feels like I'm constantly checking my credit files, hoping for a default to suddenly appear. Checking emails for responses to complaints. I'm obsessed with it, but at the same time I have had some success in getting about 5 defaults added in the last 6 months through persistence. I just don't know if I should continue fighting these last three.

2 of these debts are particularly unlikely to default as they're now with a DCA. Original creditor marked accounts as 'settled' and closed and DCA now reports as 'DMP'/'AR' because I have been paying £5.00 a month. They assured me I won't have any negative info on my credit files but AR markers are negative!

sourcrates

Hi,

Sorry, was going to respond to you in the support forum, all you can do is follow the complaints procedure, FOS may take a year or more, in the end you can only do so much, time will resolve this eventually.

DebtHurricane

Thanks sourcrates. Do you think I’d get away with starting a DMP with just the defaulted debts and then if/when the others default I just go self managed?

sourcrates

Unfortunatly organisations such as stepchange and Payplan insist that all your qualifying debts are included in debt management.

If you want to make such choices, going it alone is the only way i`m afraid.