Start of self managed DMP

2021rdsunshine

Hi! Looking for a bit of advice please. Started the self managed DMP journey last November. There’s been phone calls from creditors that I just ignore and letters saying that we’re behind in payments .  In the last 2 weeks a couple of letters saying account has been closed and yesterday an email from Wescot regarding Marbles account asking to get in touch with them to arrange payment. None of creditors has defaulted yet. I assume I just ignore Wescot as well or should I get in touch? Thank you 

sourcrates

2021rdsunshine said:

Hi! Looking for a bit of advice please. Started the self managed DMP journey last November. There’s been phone calls from creditors that I just ignore and letters saying that we’re behind in payments .  In the last 2 weeks a couple of letters saying account has been closed and yesterday an email from Wescot regarding Marbles account asking to get in touch with them to arrange payment. None of creditors has defaulted yet. I assume I just ignore Wescot as well or should I get in touch? Thank you 

It is difficult knowing what to do just recently, as some creditors are taking longer to default, owing to the cost of living crisis we are currently in the middle of.

Debt collectors acting on behalf of creditors (their clients) are powerless to enforce these debts, as they haven`t been legally assigned, not sold to them in other words, so hanging on a bit longer won`t hurt.
Keep checking your credit file, take notice of what any letters might say, is interest still been added to the account Wescott are chasing?

2021rdsunshine

Not sure if interest is still been added but on the email I received from Wescot it says: “we don’t charge any interest or fees and all the money you pay would be to reduce the outstanding balance “ . They also say I have 10 days to respond. I think I’ll just ignore the email and wait to see what happens next. Would definitely be better to get to an arrangement to pay after default has been applied. Thank you Socrates

lillypoo

Wescott hardly made any effort to collect from me. My cc company gave my £11000 debt to wescott to manage in October.  Wescott phoned my mobile and texted me twice a day every day except Sundays for about a month. Wrote four letters which kind of said " we know where you live ..be afrsid" lol. After that the calls and texts virtually stopped except for the odd one now and again. Then a letter arrived saying they were handing the account back to my lender.  That was late November and I've heard nothing since. I am assuming they're selling or have sold the debt and I'm in a backlog of paperwork somewhere. 

Don't rush into anything. You honestly don't need to.

DebtFreeWannabe27

Just reading through posts on dmps and came across this. What you mention about being called and texted every day, and the those letters - that would really stress me out. How did you keep your cool @lillypoo? 

lillypoo

@DebtFreeWannabe27

I didn't answer the calls. Deleted texts. Filed the letters. I had read so much on here I knew what to expect. Seriously after the first week it didn't phase me at all. I took heed of what the ambassadors told me on here: there's not actually a human behind most of the calls letters etc. It's all computer generated. So ijust let them carry on .

I've still not heard from wescot or the original lender for that particular debt again. 

2021rdsunshine

Lillypoo , Wescot gone silent on me as well 😍
and you are right, we are just a reference number for the creditors 

2021rdsunshine

Just after a bit more advice on my next steps please : after stopping paying creditors last November, credit cards have been passed to debt collectors like Moorcroft and Wescot and I ignored them. Bamboo loan went silent after the initial constant phone calls and letters which I ignored as well but they didn’t passed the debt to any collection company.  Vanquis, marbles ,Debenhams and Bamboo sent default letters recently and finally this month they appear on credit file as defaulted. Should I now get in contact with the debt collectors and Bamboo to set a payment or should I wait for them to contact me again? 

sourcrates

They will write to you, you don`t contact them, whoever is appointed to collect the debts will be in touch.

2021rdsunshine

sourcrates said:

They will write to you, you don`t contact them, whoever is appointed to collect the debts will be in touch.

Thank you sourcrates