Starting DMP

Beck50

Thanks the-mrs, can I just ask, did you wait to be defaulted before starting your DMP.

Beck50

Sorry to keep going on, but now have 3 or 4 different debt collection companies chasing money owed to various creditors, they've stepped up from my creditors sending letters to constant 2 or 3 times away ringing home and mobile, getting sick of it all, apart from trying to hold out for defaults I'll probably Cave in if it continues and start my DMP, just sick to death with it all now.

sourcrates

Beck50 said:

Sorry to keep going on, but now have 3 or 4 different debt collection companies chasing money owed to various creditors, they've stepped up from my creditors sending letters to constant 2 or 3 times away ringing home and mobile, getting sick of it all, apart from trying to hold out for defaults I'll probably Cave in if it continues and start my DMP, just sick to death with it all now.

Just normal collection activity, either ignore it, or get on with the arrangement, defaults may be a long way off yet.

Beck50

Even though the post came today, upon going to bed I noticed in the porch a letter that was on the matt, with perforations on three sides to tear open, it was from Westcot asking for immediate action.
I am worried reading things on line that debt collectors can get court action against you and in some cases get your wages?, I owe just over £30,000 to several accounts, starting DMP now means stuck with 13 years on credit report rather than 6 if defaulted, I am really at a loss what to do Im definitely not a weak person but this is really getting to me.

Rob5342

It's quite normal for them to try and pressure you into paying. It's your choice what you do but harming your credit record for an extra 5 years to avoid some phone calls may be something you regret one day. Can't you just ignore or block the phone call or can let the answerphone deal with it? PRA phone me every couple of days but it's always from the same number so I just block it and delete the answerphone message when I hear it's them. It's now as routine for me as deleting spam email is, as soon as I hear the Scottish woman saying please call us back I instinctively press 3 to delete it

Beck50

I've blocked the numbers on my landline but they still seem to get through, but can't understand why I got a letter so late at night and it was a royal mail preprinted envelope, Westcot, Moorcroft, ARC Europe ? And another one I can't remember hounding me, I take its to break you down and pay as for a guess they get more money themselves for doing so.
I just don't want them turning up at my house or even worse ringing me at work.

Rob5342

They can only take legal action after they have issued a default notice, after a default notice they would be likely to prefer to set up a payment plan with you than proceed with legal action. I'd just ignore them all until they default, if you manage the dmp yourself you can start paying them as they default instead of waiting for them all to default.

These companies prey on peoples misunderstandings and fears to try and pressure then into paying. I had a letter from one saying I needed to contact them within 14 days or they would proceed with further recovery action. It was clearly written to try and infer it was some sort of legal notice, but the 14 days was just some number they plucked out of the air, and the further recovery action was actually another letter offering me a discount!

I know how you are feeling as I felt quite frightened at the beginning of mine and wanted to get on with it. Having been on it it for a year I can now see how they try and take advantage of you.

Beck50

Thanks I very much appreciate your comments, you can feel very alone in circumstances like this and its always better to communicate with other people with the same problem.
So I'll keep trying to ignore, calls, letters and emails and wait to be defaulted.
It's just when you Google debt collecting agencies they always say don't ignore them by burying your head in the sand, they can take ccj etc etc.

RAS

Beck50 said:

I am worried reading things on line that debt collectors can get court action against you and in some cases get your wages?, I owe just over £30,000 to several accounts, starting DMP now means stuck with 13 years on credit report rather than 6 if defaulted, I am really at a loss what to do Im definitely not a weak person but this is really getting to me.

Part of me wants to suggest you stop reading things on line, but you also need the on line support from people like MSE.

There's a lot of stuff that CAN happen, like winning the lottery or marrying a billionaire. Just you need to be realistic about the chances.

Debt collectors can only start court proceedings once the debt is defaulted. And they know that the court will only grant them an affordable payment, which will be very similar to the amount you'll be paying them on a DMP anyway. So why would they go to the cost and bother of a court case, when you'll have already set up an affordable payment? 

What they may still do is try to get you to increase the payment, so you just avoid talking to them and keep paying. Once things are all set up, you could use Stepchange or another to give you a buffer if you want?

How's the emergency fund going?

Beck50

I haven't started my DMP as yet, but have been saving my e/fund, I keep checking my credit file but no defaults only states in arrears.
So at the moment what's happening is I'm being chased with constant phone calls, letters, texts and emails to get me to speak with them, which as yet I haven't, so don't know if I'm doing the right thing or not.