Starting a DMP? Help please!

Hess28

allystar said:

Hi, just to share...I was overwhelmed around end of November, early December 2024 and reached out to Stepchange and set up a DMP.  Thankfully, before the first payment, I found this site and took advice from the experts on here.

I cancelled the DMP and waited on defaults for 8 separate debts (3 loans & 5 credit cards) - I ignored all calls, blocking numbers as they came through.  Only opened and filed the letters.

So far all have defaulted with Virgin Credit Cards (x3) still to default - that's 8 months now of no payments and pretty much no contact, other than computer generated letters.

Since the defaults, 1 loan has been passed to Wescot - I'm paying £10 a month & 1 credit card passed to ARC Europe - paying £5 a month.  the other 2 loans and 1 credit card are silent, so I'm not doing anything.

Additionally, in that time I have raised affordability complaints, all were rejected, so I filed them with the FOS.  1 has been upheld (Zopa), 1 was rejected, so I have escalated to the Ombudsman & I have 3 pending for Virgin CC's.

So, from being super worried, I am now fully in CONTROL...

I was keen to share as it really does move slowly in the world of debt.

Good luck!

That really does make me feel better to be honest with you. 

Did you wait for the defaults before you filed the affordability complaint? 

I am pleased I found this forum before jumping straight in with stepchange. 

allystar

Hi, don’t wait for defaults to send affordability complaints…get them in now. Debt Camel website has a template. 

Good luck!