If a DMP is not legally-binding, can the creditor terminate it with immediate effect?

TruckSteele

Hello, first post on here not too sure what the policy is on how much information I’m allowed to share with you.

I’m in the unfortunate position of having an arranged DMP with my creditor. The card on the account has expired and with the DMP in place I’m unable to use the account.

But I’ve been treated poorly and after having already complained internally to the creditor I’m thinking of escalating it to FOS. But in order to make my points I will need access to copies of some of the telephone call recordings I’ve held with them. I’m worried their legal team will have a think about this and not give me these recordings, if they think they can argue it's manifestly unfounded or excessive, which I worry they will as they know I’m looking for the evidence I need in order to go to the FOS.

If they terminate the DMP, do they have to issue me a new card and have things go back the way they were when I’m paying interest on my balance? Could they cut ties with me altogether and send my account to a debt collection agency? This would be a horrific outcome and what I’m worried about the most as I understand this will show as a defaulted account on my credit report.

This is all assuming I'm keeping up with what was agreed for the DMP, which I am so far.

Chris_English

They don’t have to give you a new card, and they can sell the debt on, or start court action.

A DMP is an informal agreement, and if you choose to step away from it the company are entitled to return to your original agreement.

What’s the actual issue with them?

born_again

What stage is your complaint with the bank at now? Have you not asked for transcripts of the calls? As you may not get copies of the calls. Only if it is not resolved will you be able to go to FOS.


Even then you may well find that you will not get the card reactivated. So odds on it would go to a debt collector.

TBH. do not worry about your credit report. 

TruckSteele

Chris_English said:

They don’t have to give you a new card, and they can sell the debt on, or start court action.

A DMP is an informal agreement, and if you choose to step away from it the company are entitled to return to your original agreement.

What’s the actual issue with them?

Their customer service agents tell me incorrect information about the DMP and what's being reported to the credit bureaus. I've been told repeatedly nothing would be reported only that I'm on an "arrangement" with them but after having recently checked my credit report there are several markers for missed payments in recent months.

Also poor customer service in general, terrible phone quality, long waiting times, can't get accurate information. I want to calculate how much interest I've paid in total over the duration of my account but in order to do that I need to see my statements, they are withholding this from me telling for some strange reason suggesting they can only give me the last 6 months of statements. Which I requested by the way but it turns out it was only one statement as the card expired 5 months ago. They did tell me in order to see my statement I would need to submit a request for personal data under GDPR but it's just a nuisance to do that. I will obviously but I'm not expecting to hear back for at least a month now, and even then they might find a way to prevent me from getting them. I can't access my account online as the card has expired.born_again said:

What stage is your complaint with the bank at now? Have you not asked for transcripts of the calls? As you may not get copies of the calls. Only if it is not resolved will you be able to go to FOS.


Even then you may well find that you will not get the card reactivated. So odds on it would go to a debt collector.

TBH. do not worry about your credit report. 

They've noted my concerns and have offered a small financial gift as a goodwill gesture. They've also played good cop in so far by giving me impartial advice and telling me that if I'm still not happy I can see the FOS.

I'm not sure if accepting their offer will have this complaint considered as resolved though, but from the wording it looks as though they're just doing it in good faith. Perhaps they're looking to get bonus points where they can before I go to the FOS.

I haven't submitted the request for my personal data yet but thanks I will ask for the transcript of calls rather than electronic files.