Pre-Stepchange DMP questions

Mikuhar

Hi everyone,

I’ve now received the first default on my credit report (vanquis) along with letters from a few others informing they will default within the next few weeks.

I’ve received a letter from Vanquis notifying me that the agreement has been terminated and the full balance needs to be repaid along with details of how to pay. Is this the point where I begin making affordable payments? The letter says no further interest will be added and I will no longer able to use the app or online account but there is details to pay via bank transfer.

The letter also states as I have default they may pass the account on to a specialist partner, I’m not sure whether to wait for that and make payments with them?

I’ve not been answering any phone calls so far but keeping track of letters

thanks in advance 

sourcrates

Wait till it goes to debt collection, they will then go through a standard series of letters with you.

You can set up your payments via the DCA`s website.

Mikuhar

Thank you! @sourcrates

I’ve decided to go with self managed DMP for the time being and can go to stepchange once all have defaulted if needed