Self managed DMP starting now

RAS

Just so you understand that you need to permit snail mail.

By law, any document with legal status has to be posted to the last known mail address. That includes

the letter demanding repayment of the debt before the default is issued.

any Letter before Action

and letter regarding legal action.

It's important that you get these. For the first few months, you can largely ignore letters because defaults are unusual that quickly. After that, set up a file with tabs and open once a week, file and then get in with life.

ArtyJ931

https://forums.moneysavingexpert.com/discussion/comment/81951326#Comment_81951326

I just cancelled the DDs. I haven't done anything else. They can't legally reinstate a DD without your permission, I'm sure…

RhiBi

https://forums.moneysavingexpert.com/discussion/comment/81951533#Comment_81951533

I did the same in November. One has defaulted - barclaycard, so I’m just waiting on a letter to see if it’s been passed on. Two write offs so far, would be nice to have 1 or 2 more!

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/81951606#Comment_81951606

nice on the write offs! How did you get those written off? Did you get in contact with them after default? Or did they write it off automatically?

sourcrates

https://forums.moneysavingexpert.com/discussion/comment/81951533#Comment_81951533

In theory you are correct, but one method used by many of the "fly by night" payday loan companies, was to re-instate cancelled direct debit mandates, and literally empty bank accounts overnight, then disappear into the ether with all your cash.

Reputable companies will not do this, and you always have the DD guarantee to fall back on, but it serves as a timely reminder to be diligent, and to be really careful where money and debt are concerned.

Pre-planning prevents etc etc etc.

RhiBi

https://forums.moneysavingexpert.com/discussion/comment/81951776#Comment_81951776

The defaulted on hasn’t been written off, they’ve yet to confirm or deny that they will.

It’s probably easier to link this long thread as to how I got write offs so far https://forums.moneysavingexpert.com/discussion/comment/81757183#Comment_81757183?utm_source=community-search&utm_medium=organic-search&utm_term=debt+and+dv

getoutofdebtcard

I’ve cancelled all my DDs now and will see what happens! I’ve already received my first email saying my DD has been cancelled.

Zable Card, sneaky, automatically changed payment details to ANOTHER bank account. It must have it saved somewhere internally, because I made sure to delete all any any other payment details. Luckily that account has an overdraft so it’s already maxed and won’t accept any payments anymore.

So sneaky though.

ManyWays

Zable, you may have given them a continuous payment authority, in this case you have to tell the bank(s) to cancel that

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/81952991#Comment_81952991

I assume it works only on the bank details I gave Zable? Or can they use history bank details for a different bank? Since that’s what they have done

ManyWays

have you ever borrowed from Lendable? That is the same lender