In a DMP, can i only make decent token payments for months, then make offers.

fatbelly

You can do what you want on a dmp. It's an informal solution, unlike dro/iva

You may not necessarily be able to do it on a stepchange dmp, as they have to jump through some hoops to keep their fca accreditation, so you may have to do-it-yourself

If you want to ask what creditors will do, you must remember that we don't have a crystal ball but we do have people with a lot of experience so can say what is likely and what is not likely. Random videos on youtube may not have that breadth of experience

stu12345_2

the random video is not a random video, it is a well respected knowledgeable guy , with 20 yrs experience, what he said i already knew, but was looking at how to do it exactly. again my main point is will the creditors refuse until i show them a budget statement that shows i have say only £100 a month left, do i have to show them all the figures that i owe the other creditors and how much i will split the £100 between them all? how long can i do this for, before they get fed up and i can really pressure them to take a F and F offer( without explaining where the money came from)

Grumpelstiltskin

stu12345_2 said:

not checked yet, but is something about them being before 2007 to be unenforceable, they are well after 2007 when i took them on.many of them we took on in 2018. I cant get the companies on unfair lending, as they stopped my limits many times due to fair banking policies and i was only making just above min payment per month.

Did the guy on You Tube tell you they had to be before 2007 to be unenforceable?
If so he was talking out of his rear end.

If they can't produce a CCA then they can't take you to court.

stu12345_2

ok, so apart from the 2007 thing, can you answer my other points, you see my budget sheets are already with the creditors, as stepchange have sent them numerous times, especially when i alter it ( such as say car repairs went up, or food bill went up a little bit or my wages went up a little bit) so if i go it alone and create a new budget and sent it to them, will they say( "Hey ! this couple have suddenly upped their food bill from £200 to £400 a month or  gas/elec bill from £100 to £250 a month, something isnt right here, we refuse your £100 a month offer)

Grumpelstiltskin

Look you need to go back to the beginning.

A  DMP is something you can have complete control over.

You can do it yourself, no problem.

You just tell the creditors how much you can afford to pay and that is it.

But why pay if they can't enforce the debt? Check that out as soon as you have told Stepchange you can't pay anything at the moment, and you will let them know if you need their help in future.

stu12345_2

funny how stepchange never mentioned the check if its enforceable, right back when i joined them. do you have a link for writing letters and costs and such like to start the ball rolling about this enforcing checking. 
Plus i learned and i once did have an argument  with stepchange saying they are paid by the credit companies, to fund them, yes they said, and my problem is the creditors seem to want stepchange  etc to get involved as they know its virtually a guaranteed DMP set up, where as if you go it alone , I set the choices.

sourcrates

Stu, take a deep breath friend, you are all over the place with this.

Without getting too technical, the you tube guy was referring to a section of the consumer credit act that was redacted in 2008, and no longer applies to credit agreements, this made certain agreements unenforceable.

But there are other ways agreements can be deemed unenforceable, that still apply today, section 77/79 of the consumer credit act governs the supply on demand of a copy of your credit agreement, failure to produce said copy renders such accounts unenforceable in court.

See debt camels explanation here -

Debts - why, how & when to ask for the CCA agreement · Debt Camel

To answer your specific question, you can do anything you wish in a self managed DMP, you can share or not share documents to show your budget, you can tell a company what is affordable, and what is not, they will accept your proposal, or they will sell the debt to another party.

As I said previously, just do what you have to do to sort yourself out, that will likely be without the help of stepchange, but it`s not difficult, you don`t need to explain yourself, you take control, and you tell them the terms, not the other  way around, don`t go asking for their acceptance, you lay your cards on the table, and say take it or leave it.

Affordability is everything these days don`t be afraid to lay down the law to them.

stu12345_2

ok, i will phone stepchange saying i will no longer be making any payments via them and then have to look at the creditors in my stepchange online file and try workout where to write to them, cos that means digging out paperwork, as the stepchange file only shows approx balance, serial number and company.
then i will write to creditors stating i will make £100 split between 8 creditors and they will get a pro rata amount of approx?, here are the amounts i owe to the other creditors( or do i leave that bit out), and please continue to stop all interest and charges I will not mention being behind on my rent/utilities, as ive now caught up. But i think i may or may not offer a budget sheet or perhaps even refuse to offer them one, even if they demand one.
I hope they dont mind myself having a pet that requires a lot of medication, as she is very old and insurance wont cover it, i spend £120 a month on vet bills and food for her.

Grumpelstiltskin

Stu   No you don't write and say you will pay £100 you write and ask for CCAs, if they can't provide them you don't pay them anything .

stu12345_2

ok, that is the first thing i do then, not make any more payments, whilst they search.  hang on, the debt camel link says pay them for a couple of months whilst they search, how much?????
 This  £1 fee,cheque or postal order, who do i write it to?

and how do i make payments to the creditors in the meantime, do i ask for bank account number in the same letter ive wrote to them? I will not phone them at all, as ive read there is no need to phone, as they will just try to put pressure on me.