DMP and Defaults

Jones_222

I was expecting to potentially be waiting 6 months for a default and then didn't know if after this period I could make contact and request it was defaulted, but I guess it's just a bit of a waiting game!

Thank you, I don't have any intention of paying a token payment as I had seen this is classed as communication or arrangement to pay which inevitably drags things out for a much longer period which I definitely don't want.

I'm going to be strong and hold out for the defaults whilst saving and then make contact once they have defaulted to set up a payment.

Jones_222

I have just seen today that my loan with RBS has now defaulted. This had been passed on to wescot, they have been trying to contact me to make payment.

What is the best next stage, do I now need to contact wescot to arrange a DMP? Or I have seen others have just made a token payment directly to them through the payment details on letters or is there another option that is best?

Thank you for any support 😊

Sly72

Barclaycard default very quick, others can take an age still waiting for 2 of mine 2 years on.

RAS

Jones_222 said:

I have just seen today that my loan with RBS has now defaulted. This had been passed on to wescot, they have been trying to contact me to make payment.

What is the best next stage, do I now need to contact wescot to arrange a DMP? Or I have seen others have just made a token payment directly to them through the payment details on letters or is there another option that is best?

Thank you for any support 😊

Given it's only a short time since you ceased paying your debts, have you got a decent emergency fund set up? If not, I'd be inclined to wait a few months before making token payments.

And anyway wait until Westcot send a letter with the account reference etc.

sourcrates

Don`t rush things, wait till they write to you, when your ready you set up a payment plan on their website.

Very early days yet, get your ducks in a row first.

Jones_222

RAS said:

Jones_222 said:

I have just seen today that my loan with RBS has now defaulted. This had been passed on to wescot, they have been trying to contact me to make payment.

What is the best next stage, do I now need to contact wescot to arrange a DMP? Or I have seen others have just made a token payment directly to them through the payment details on letters or is there another option that is best?

Thank you for any support 😊

Given it's only a short time since you ceased paying your debts, have you got a decent emergency fund set up? If not, I'd be inclined to wait a few months before making token payments.

And anyway wait until Westcot send a letter with the account reference etc.

The letters I have had from them before it defaulted had the account reference on and details to make payment.

I have been saving an emergency fund since stopping paying but would definitely feel more comfortable with more.

I will hold off for a little while longer before setting up a payment plan.