Is it time for a DMP or try to ride the storm?

stu12345_2

I had one , it means you can't use your eg credit card, the account is closed with the original lender. they sell it on or as you said use a debt collection company to take charge of trying to get any payments from you if you can afford to.
I had that last week after my account has been sold 8 months ago. they finally terminated my account 
I then asked for a manual default. they said yes if I was up to date with priority debts. I said yes I am.

RAS

Have you actually checked your credit report? Normally they warn you they will register a default, then send you a letter terminating the account. By law, they have to ask for repayment of the full amount. If you don't make payment arrangements, then they register the default.

CurlyTop11

Thanks both. Yeah, no default has appeared on credit report yet. They sent the default notice last month, so I guess this is now one step away from default.

sourcrates

A default notice gives 14 days warning of a default being registered on your credit file, if the breech in question is not remedied.

Whether or not this threat is carried through is entirely at the discretion of the company concerned.

Check your credit files after they next update.

CurlyTop11

sourcrates said:

A default notice gives 14 days warning of a default being registered on your credit file, if the breech in question is not remedied.

Whether or not this threat is carried through is entirely at the discretion of the company concerned.

Check your credit files after they next update.

@sourcrates ah okay. So they don't automatically do it then. I may request it if it isn't on my next update. I have had a default notice from a couple of them now, so will see what happens. Thanks

sourcrates

Most of the time they will, but not always.

CurlyTop11

Hi all,

Hope everyone had a nice (and cheap) Christmas!

I have received an email from Moorcroft to say that they are acting 'on behalf of' Fluid. My report hasn't updated yet, so I am unsure if they have officially defaulted or not. Do I need to contact Moorcroft at this point or am I okay to ignore them still as they are acting on behalf of? Is it better to send an email to say I am doing a DMP and awaiting default, then they will go back to Fluid with that information?

Apologies for another question, I just want to try and make sure I get steps right.

Many thanks

fatbelly

You can ignore Moorcroft. They just run through their standard letters and return the debt to where it came from.

CurlyTop11

Thank you.

[Deleted User]

@CurlyTop11

Just wanted to post a quick thank you for sharing your situation. It sounds very similar to mine (so much so, I could've written it myself - similar age, living situation, reason for debt etc.). I silently followed your thread and it was the small boost in confidence I needed to get my own affairs in order this last month - your post along with the replies you received, made things a little bit less scary.

I'll keep following your journey and look forward to reading of your progress.

Thanks again to you and to everyone who responded to you.