Starting to miss payments

sourcrates

Banks are not quite that quick to invoke the right of set off, you can miss many, many payments before they would even consider such a thing.
Debt collection is a very, very slow process, that can take many months, even years, so one missed payment isn`t going to matter a whole lot.

lillypoo

sourcrates said:

Banks are not quite that quick to invoke the right of set off, you can miss many, many payments before they would even consider such a thing.
Debt collection is a very, very slow process, that can take many months, even years, so one missed payment isn`t going to matter a whole lot.

Thanks sourcrates 

enthusiasticsaver

I would cancel the CCs repayments today.  Defaults take time.

lillypoo

So it's beginning

Missed my first payment to m&s bank Cc. It was due on first of the month. Today, 11th, just ten days late, and I've had two phone calls and a text. I haven't answered or responded. 

I'm suprised how quickly they've started to chase me.

I guess now is the time I wrote to them and ask them to only contact my by post. Is there a template letter or does it not matter how its worded?

Thank you

sourcrates

lillypoo said:

So it's beginning

Missed my first payment to m&s bank Cc. It was due on first of the month. Today, 11th, just ten days late, and I've had two phone calls and a text. I haven't answered or responded. 

I'm suprised how quickly they've started to chase me.

I guess now is the time I wrote to them and ask them to only contact my by post. Is there a template letter or does it not matter how its worded?

Thank you

Dear Creditor,

Under General Data Protection Regulations, I am able to choose how I am contacted by my creditors.

From the date of this letter, please contact me in writing only.

regards

lillypoo

lillypoo

sourcrates said:

lillypoo said:

So it's beginning

Missed my first payment to m&s bank Cc. It was due on first of the month. Today, 11th, just ten days late, and I've had two phone calls and a text. I haven't answered or responded. 

I'm suprised how quickly they've started to chase me.

I guess now is the time I wrote to them and ask them to only contact my by post. Is there a template letter or does it not matter how its worded?

Thank you

Dear Creditor,

Under General Data Protection Regulations, I am able to choose how I am contacted by my creditors.

From the date of this letter, please contact me in writing only.

regards

lillypoo

Thanks sour!

TheAble

sourcrates said:

lillypoo said:

So it's beginning

Missed my first payment to m&s bank Cc. It was due on first of the month. Today, 11th, just ten days late, and I've had two phone calls and a text. I haven't answered or responded. 

I'm suprised how quickly they've started to chase me.

I guess now is the time I wrote to them and ask them to only contact my by post. Is there a template letter or does it not matter how its worded?

Thank you

Dear Creditor,

Under General Data Protection Regulations, I am able to choose how I am contacted by my creditors.

From the date of this letter, please contact me in writing only.

regards

lillypoo

Out of interest, do you have to send that in the post or would an email suffice? Just wondering if the cost of postage could be saved....

Floss

I found that the majority of my original creditors wouldn't deal by email, but the DCAs are quite happy to. 

lillypoo

I'm not going to write for a bit. Someone else has mentioned that the phone calls die down. My phone is on silent anyway. M&s have called at the same time ie 9am yesterday and today and they leave an automated message it's not a real person. If (when) it becomes a bigger issue I will write. 

lillypoo

Just one more quick question ...I live in a tiny village with a postman who seems to know everyone's business ... if creditors write to me about missed payments are the envelopes marked in big red letters FINAL DEMAND or is that a thing of the past?