Santander and DMP

ChampagneSupernova36

simply , the language they use is frightening and fear mongering. These tactics worked on me and I went onto a DMP immediately, it’s hard to ignore such threats but as RAS says there’s no immediate threat. I expect with other creditors, you’ll receive similar letters in similar wordings, take a deep breath a continue with the plan. Stay strong and from x

LilMissM

I do not think it is defaulted yet. Thank you for the advice, I'll keep you updated x

LilMissM

Do you think I should just start contacting my debtors and arrange a DMP? Will that stop things escalating? If I leave things to default, how long is that? 2 months? 5 months? I don't know how this works

What should I do about this marker against me? Is there even anything I can do about it?

I'm so overwhelmed by all this

sourcrates

LilMissM said:

Do you think I should just start contacting my debtors and arrange a DMP? Will that stop things escalating? If I leave things to default, how long is that? 2 months? 5 months? I don't know how this works

What should I do about this marker against me? Is there even anything I can do about it?

I'm so overwhelmed by all this

As per fatbelly`s advice, raise a formal complaint with the credit union.

He provided you with all the links to get the ball rolling.

You really need to decide on a strategy and stick with it, collection activity by your creditors is normal, and to be expected, you can`t be this indecisive every time you get a collection letter, unsure what escalation you are referring too? what is it you think they will do?

The very worst they could do, the very worst, is take legal action, wear by you repay the debt at an affordable rate set by the court, according to your budget.

Yes there would be CCJ`s, but apart from that, as long as your work remains unaffected by that, what is there to worry about? the answer is nothing at all !!

Collection activity is designed with one thing only in mind, and that`s to get you to contact them, the calls/letters/texts all ambiguous in nature, and all with the threat of "further action" lingering, it`s all designed to get you to crack, and pick up the phone to them, that`s it, mind games, nothing more than mind games.

Honestly I`ve seen it a thousand times, its all rubbish, complete rubbish.

Stick to your plan.

RAS

LilMissM said:

Do you think I should just start contacting my debtors and arrange a DMP? Will that stop things escalating? If I leave things to default, how long is that? 2 months? 5 months? I don't know how this works

What should I do about this marker against me? Is there even anything I can do about it?

I'm so overwhelmed by all this

Please don't worry about "further action" by your other consumer creditors. They can't take any until they default you anyway. Come back here when you get a default letter.

As you've gathered credit unions are a different kettle of fish and yours seems to play hard. That's the issue on which you need to concentrate, as per fatbelly's advice. 

How's the budget and emergency fund going, as those are more important with the CIFAS marker? 

LilMissM

Good morning everyone,

Last night I had a very long and very supportive chat with a forum member, who explained everything to me in the idiot english that I needed. At the end of that chat, I felt like I have a much better and clearer understanding of the process that is to come and, more importantly, I have a plan! We went through my debts and my budget and how to work out what I am going to offer each creditor when the time comes. I felt lighter! I had a much needed deep and peaceful sleep, something I have not had for weeks now. 

The budget and emergency fund are coming along nicely. I had an emergency vet bill last month so I had to use my emergency fund for that, but am back on track now. 

I need to hold my nerve when it comes to the emails, phone calls, letters etc that are to come. That has been the thing that has got me every time. I panic and when I panic my brain stops working properly. All reason and logic just goes out the window and panic sets in. As has been pointed out, these communications are frightening and intimidating to someone in my position and they have had the desired effect. But I will ignore them from now on, I will wait for the debts to default and then I will present my offers (which are not terrible offers either) to each of them. If all goes according to plan, I should be debt free in 35 months from when they default. 

I have taken the first step of fatbelly's advice and raised a complaint with MCB. I actually found an email that I sent to them on 13th Feb explaining my situation, my concerns and asked them if there was any way I could extend the length of the loan by 12 months. I asked them for help and literally used those words. They didn't reply to that email.  I sent a second email on 7th March explaining that I had taken out a DMP and could they confirm that my direct debit was indeed cancelled. Again, they did not reply. The next thing I know I have a Cifas marker against me for "evasion of payment". I never had any intention of ever not paying, I just got myself in a mess and was honest with them about it and asked for their help, which I did not get. 

I have given a lot of thought to going with an organisation who arranges DMPs but I think this is something I should try and do myself. This whole experience has been horrible and I never want to find myself in this situation ever again. I think it is important for my own personal learning that I try and resolve this myself (with the help and advice from you good people) so that I a) never find myself in a situation like this again and b) learn valuable lessons from this experience.

I am still very concerned about this Cifas marker though. I need to try and get that removed if that is even possible. Any advice on that would be greatly appreciated. So long as Monzo let me keep the account that I have, I will be ok. I need to get this marker removed though.

Thank you to every member of this thread for your advice and wisdom, you have all played an integral part in getting me to where I am right now. Thank you ChampagneSupa36 for sharing your experience of a very similar situation, having someone who can relate to the emotional side of it has been a huge relief. And finally, a massive thank you to MrRichTea for your help and patience, for checking on me and keeping in touch. I honestly wouldn't be writing this today if it wasn't for you.

I will hopefully be posting less on this thread now that I have a better understanding of the situation and what is to come and more importantly how to deal with it. And hopefully in 3 years I will be debt free and loving life again!

fatbelly

You are doing exactly the right thing by reminding them of the history of this and asking your Credit Union to remove the fraud marker they put on you. There are plenty of routes to escalate this but you have to start gently and politely.

I would concentrate on telling them that you are getting advice from stepchange, as that is what their own website tells you to do if you are in difficulty. They don't need to know at the moment that you will be going down the diy route.

You have to(sorry about this) give them 8 weeks to put together a response, then you can escalate it. But it is good form, and sometimes FOS will ask if you have done this, to give them a reminder at the 4-week mark