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

CurlyTop11

Hi all,

Just a quick update on my situation. I have now officially received my first default from Zopa. It isn't on my report yet, as it hasn't updated. However, I received default notice and have now also received an email to confirm my account is in default and I need to contact them to pay. Do I now start to pay Zopa whatever amount I allocate to them? Do I just set up a payment or do I need to tell them I will be paying x amount?

Thanks again

RAS

Have Zopa written to you yet?

CurlyTop11

RAS said:

Have Zopa written to you yet?

They have emailed and my account is in default on the app. I haven't received the actual letter yet, so I expect that will land in the next few days.

CurlyTop11

I am going to email Zopa to say I am in a DMP and will be making an affordable monthly payment via standing order. Would the below be sufficient to send?

'Please note I am currently in a DMP and will be making monthly payments via standing order in line with what I can afford to pay. I have set up a standing order for £x which will be paid on x date.'

Thanks

Superhoopza

Really interesting thread and thanks for posting. What have the creditors been like in regards contact with you? Hoping no one turned up to the house?

CurlyTop11

Superhoopza said:

Really interesting thread and thanks for posting. What have the creditors been like in regards contact with you? Hoping no one turned up to the house?

They have chased quite a lot initially, but mainly with calls and letters or emails. I just basically ignored all calls and then blocked the numbers after Googling them and I filed all letters away. They still call, but I only see it on my calls list now.

I emailed Lendable directly to revoke their right of access (I think it's called) to visit me at home after some advice on here. They didn't visit to be fair and they emailed back to say they wouldn't.

So far, I have only been officially defaulted by Zopa, but I have had a default notice off a couple more. I am hoping that over the next couple of months (maximum), everyone will default me and I can start the process of repayments and have a 6 year cut off point for the defaults to drop off my file.

sourcrates

Zopa tend to hang on to there bad debts for quite a while, sending the odd collection email, eventually they will normally sell it on to Lowell.

Superhoopza

CurlyTop11 said:

Superhoopza said:

Really interesting thread and thanks for posting. What have the creditors been like in regards contact with you? Hoping no one turned up to the house?

They have chased quite a lot initially, but mainly with calls and letters or emails. I just basically ignored all calls and then blocked the numbers after Googling them and I filed all letters away. They still call, but I only see it on my calls list now.

I emailed Lendable directly to revoke their right of access (I think it's called) to visit me at home after some advice on here. They didn't visit to be fair and they emailed back to say they wouldn't.

So far, I have only been officially defaulted by Zopa, but I have had a default notice off a couple more. I am hoping that over the next couple of months (maximum), everyone will default me and I can start the process of repayments and have a 6 year cut off point for the defaults to drop off my file.

That's good then, seems like all the advice given here has really helped in terms of process and also keeping people from your door.

Hopefully the defaults arrive soon and you can move on.

CurlyTop11

Hi all,

Apologies for another question on this. I have now set up a standing order with Zopa after receiving my first default, which has also appeared on my credit report now. I emailed them just to say that I have set up a standing order for an affordable amount.

They have replied and included the following:

'I can see we were notified by yourself at the end of January that you are working with a Debt Management company and starting a Debt Management plan.

Can I ask the amount of £x will this be paid by yourself or has this amount been agreed on your Debt Management plan?

If you can please confirm the name of the Debt Management company that is assisting you and their reference number?'

A couple of things:

1) I didn't tell them I was using a Debt Management company. I simply said I was in the process of starting a DMP.

2) Am I correct in thinking that I can just go back to them and say that I am doing this self managed and that is fine? Is this the point when they may try and push me for a SOA, which I don't need to provide to them?

Many thanks again for all input on this.

fatbelly

Yes, just tell them you are self managing.