DMP and CCA

pathtodebtfree

Hi all, newbie here. Posted last week I'm at the very start of a self managed DMP, first month not paying my credit accounts, anxious still and worried about what to expect. I have a few questions about CCA's I have seen them getting mentioned on a few posts. As a newbie can anyone tell me is this something I have to do? I have 10 credit accounts, do these just refer to credit cards or loans too? Also nearly half of my credit was taken out in the last year so I think within my emails etc I probably do have the agreements so in that case pointless? Is this just for older accounts? Am I penalised when doing a DMP for this? Thanks

Grumpelstiltskin

What do you mean penalised when doing a DMP?

A DMP is an informal agreement not a formal insolvency no one is going to penalise you.

Agreed credit taken out in the last year the agreements are going to be there.

I haven't read your other thread but a lot of credit taken out in a short period of time looks like unaffordability claims may be the way forward.

sourcrates

CCA requests are best done on older debts, preferably those that have already defaulted and been sold on at least once, if your credit accounts are only a year or so old, then I would not bother yourself with any of that at this very early stage.

What to expect?
Well not much is going to happen, you may get some texts/emails/calls at first asking why you haven't paid.

As time goes on, you may get some letters, more calls etc, because remember, they don`t know why you have just stopped paying, so the computer will be spewing out whatever it has been told to for customers who haven`t paid.

There are various routes lenders can take before an account defaults, instead of covering all the bases, its best if you just continue doing what your doing, and anything you are unsure off, ask.

RAS

This is not the time to do CCA requests on recent loans and cards. Are you older cards and loans still with the original creditors?

Agree, affordability claims on the recent debts would be a good idea. If you've got old cards that have limits increased repeatedly, those might also be possible. 

Debt camel has the best advice on affordability claims.

ManyWays

People often worry unnecessarily about the effect of making CCA requests or affordability complaints on a DMP. Lenders and debt collectors want to get as much money from you as easily as possible, they spend little or no time studying your individual case, they are not interested in being vindictive and there is no reason for a creditor to refuse to accept a DMP payment because you are exercising your legal rights; this just doesnt happen. 

But there is no point in making a CCA request for a relatively recent debt that has not defaulted and been sold to a debt collector; that is a potential remedy for later. 

pathtodebtfree

Great, thankyou for all the responses x