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AMEX and defaults in self managed DMP
Comments
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May, in appropriate circumstances, may, and may.
Once the default is issued, set up a monthly payment, promptly.If you've have not made a mistake, you've made nothing0 -
They can`t take legal action till the debt defaults OP.
It`s all par for the course.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
@RAS @sourcrates thank you. I will post an update when I get the default letter. I have over 20 missed calls from Amex.0
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@PanAction25 it gets so much easier once the default is registered and an affordable payment plan is set up - the calls and emails will stop although I did find it very stressful the first couple of months pre default with all the calls and the letters can be quite nasty. I just blocked all the numbers until the account defaulted and Allied International Credit got in touch. I never spoke to anyone on the phone simply prepared an income and expenditure that suited my figures submitted it and they were happy.0
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@PanAction25 apparently AMEX are quite quick to act if you ignore them post default though so I’d just keep an eye on your post and credit record and do the payment plan ASAP. Do you mind asking what the balance is? I had over £16,000 which following an affordability complaint they reduced to £6,000 without going to the Financial Ombudsman service so definitely worth looking into affordability complaints if you had a high balance and were offered lots of credit increases0
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@PalmSprings2024 the debt was £8K but 2 months interests and missed payments have shot it up to £8.5K.
I’m considering filing affordability complaint with Amex.0 -
Same situation, got the default letter in March I think but still not defaulted on Experian, and it is now May.
I checked and I have 4 missed payments on my credit report, still no defaults.
AIC have gotten in touch and I plan to pay £20 a month via standing order. However, the default has not been registered on the credit file yet.
So still waiting..... Not sure if I should start the standing order now... Or wait until the default happens on my credit file...0 -
Ignore E Mails, wait till you receive something through snail mail.If you go down to the woods today you better not go alone.0
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