DMP

Beck50

I have emailed Lendable and this PSP fieldcare within the last 10 minutes to say that I am seeking debt advice from StepChange and more likely will be starting my DMP earlier than I'd hoped to, as I just want to stop all the grief of worrying, I suppose everyone is different in how they handle things but possible door step calls after only 2 missed payments really.

sourcrates

Beck50 said:

I have emailed Lendable and this PSP fieldcare within the last 10 minutes to say that I am seeking debt advice from StepChange and more likely will be starting my DMP earlier than I'd hoped to, as I just want to stop all the grief of worrying, I suppose everyone is different in how they handle things but possible door step calls after only 2 missed payments really.

The threat of using them is much more common than their actual use.

They are the same kind of agent who would call to clarify an insurance claim, and other things of a similar nature, they simply act as a go between when chasing debts, some companies are more robust when it comes to debt collection, than others.

Your email should see your account put on hold for a 30-day period, on occasions it`s better to let them know your intentions, it saves some hassle.

Beck50

PSP Fieldcare have replied back saying they've pasted my email back to the lenders (Lendable) but nothing from them as yet, I did receive an earlier email a few week's ago and like most of the creditors I owe money to they have all provided money problem leaflets stipulating people like stepchange for free debt advice, its just that I was hoping to default first but looks like I wont get the chance now.

Rob5342

The decision on how you approach it is completely yours. You need to weigh it all up really, if you aren't confident enough to ignore the creditor contact then maybe it's better to start it now to put your mind at rest, especially if you've been dealing with it for a while. You might find that some will default you soon anyway, if any drag on then if you feel confident enough later you could always stop payment to them to try and get a default.

I started mine with Stepchange without getting defaults as I had never seen anything saying getting them first may be beneficial. I'd been struggling with credit cards for years and it was a massive relief to get started on a DMP that would take care of them all. Barclaycard were great and defaulted me very quickly, but Aqua were very troublesome and still had my account marked as arrangement to pay a year later. By that time I had become a lot more confident and switched to managing it myself as well as stopping the Aqua payments to try and get a default. They have finally defaulted me so I will start payments to them again next month.

Beck50

I have been managing my own payment plan but still getting chased with calls and letters, but I have since last November been paying back 9 of my 11 creditors, but one was accepting my payments but then sold it to Lantern who again I was making payments to, but 2 days ago they sent me an email stating that if I did not reply within the next 7 days then one of two course of actions would take place, 1: assessed for legal action which may incur costs, charges or ccj, 2: request reconnection partner to visit your home or instruct a recovery partner, basically they've sent me a few letters, emails and texts about setting up a login in account, should I be worried now?

stu12345_2

"if I don't reply"  you state, what exactly are you to reply to, what is their question?
are they wanting an income expenditure sheet filled in?
if so maybe that will get them off your back to prove that's all you can afford to give

sourcrates

What is it Lantern want you to do?

You say your paying them, so what is their beef??

Beck50

A financial assessment form probably which I didn't fill and send because I'd already did that with stepchange at the beginning and they came up with a figure that I'd split between my creditors which in this case was drafty until 2 or 3 months ago. 
I altered the direct debit to them but as mentioned a 7 day ultimatum email wanting a response in 7 days for deciding what action to take.

stu12345_2

has anything changed since going with Stephange and going it alone, will an up to date financial assessment form show you can afford more or less than what you are currently paying to lantern

Beck50

Not really I might be able to squeeze another £30 to £50 between them all.