Thoughts on writing to creditors

Billy_Dandy

Good morning to all,
My first cancelled direct debit will not be paid today. 
I don't know how long it will be before I am contacted.
I was wondering if there is any value in writing to creditors to explain that I can't pay because of (reasons) and that I am seeking advice in relation to commencing a DMP in due course. 
At least then they'll know they're not getting paid 

I intend to undertake a self managed DMP.

Your thoughts please.

Thanks 👍 

Grumpelstiltskin

You do realize if you are contacted by them it will be computer generated, no human will be involved so what is the point in writing?

Billy_Dandy

@Grumpelstiltskin

Thank you for your reply.
I never thought about who would contact me. I just thought that if I wrote to 'customer services' at least a human would read it and perhaps put a note on my account. 

Jaytee

Hi
I am not as knowledgeable as most on this board but I have just written to two of my creditors (largest and in arrears) to inform them that I am experiencing difficulties with my health at the moment and asking that interest and charges are frozen during this period. I have told them I will be paying a reduced amount. I understand that this AP (arrangement to pay) stays on your credit record for 6 years after the debt is cleared but I am 52, mortgage free and done with credit so to this extent I don't care. However, if you are younger and hope to get a mortgage or credit in the future then defaulting and going down a DMP route (alternatives are available) might be the best option. It depends what you want, what your circumstances are etc. If you set out you situation with a SoA people can advise better.

fatbelly

I think that if your situation is such that you are asking for the debt to be written off, then you compile your evidence and write.

Otherwise don't

Your correspondence will either be ignored or slow the process down. If starting a dmp you just want the defaults as soon as possible*

I know a lot of well meaning authorities say to bombard the lender with information but it comes from the place of debt being a scary subject and it's really not

*you really don't want an AP marker if you are ever going to need a clean credit file

Billy_Dandy

@fatbelly

Thank you. Much appreciated. I want the default markers. No AP markers. I would like to have a clean file again sometime. 

Rob5342

I'd just ignore them completely anf make no contact, you want them to give up on you and default you. If you contact them then it could prompt them to try and "help" you which will just slow the whole process down. 

sourcrates

Its very simple, you ignore everything but any letters concerning potential legal action.

When you start to miss payments, the response is all computer generated, it sends out the letters, schedules collection calls, texts/emails whatever it might be.

It all comes under the heading of "collection activity" and is simply a process they use to either get back in touch with you, or to eventually default you and rid themselves of the problem.

You would be unlucky to get letters about legal action at such an early stage, but its something you should be aware of, and know how to deal with.

Once you have a nice row of defaults, you can engage with whoever writes to you, as you see fit.