Self DMP, 2/3 month in, some irresponsible lending complaints have come in

getoutofdebtcard

I have stopped paying all creditors for the past 2/3 months now. I am in the verge of getting my defaults with some of them. I think I have had a few defaults already, I need to double check.

I have received a few upheld complaints saying that they should have done more checks before increasing or lending to me.

First one is with Zopa, where they have upheld my complaint, they’ve given me interest and charged back and have reduced my total owed amount. The question is, do I start paying them now? since they have defaulted me to be able to remove the interest.

The second question is I want to pay the least possible amount, so for example I owe £1,700. I want to pay £10 a month, so I can save up as much as possible and give F&F settlement offers in 2/3 years time to clear all my debts with all my creditors.

is that okay? Will they be happy with me just paying anything at all? I don’t plan on sending I&E, just finding the bank details and setting up a standing order.

Also does anyone the bank details for CRE Credit Resource Solutions, this has come in for Ziltch, Pay in 3. I want to do the same with this, essentially all my creditors.

Pay least amount in self managed dmp, save up a chunk and then F&F settlements.

I can’t do anything else expect a DMP, my job doesn’t allow bankruptcy, nor do I want it

sammyjammy

Its perfectly acceptable to not sending them your income and expenditure details, it may however result in more "noise" like letters and phonecalls from them. Particularly if you just pay everyone £10, they will smell a rat. Work out how much you owe and how much in total you want to repay and apportion it according to how much you owe them is a marginally better way.

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/82038283#Comment_82038283

Sorry I wasn’t clear. Everyone would get different amounts based on the total I owe. It wouldn’t be £10 flat for everyone

worldsnooker147

https://forums.moneysavingexpert.com/discussion/6672910/self-dmp-2-3-month-in-some-irresponsible-lending-complaints-have-come-in

Hi,

Did Zopa put up much of fight when they upheld your affordability complaint? i have x3 loan affordability claims in with them as we speak and they seem to be taking their time in responding to them.

Keen to get some insight into how my complaints may turn.

TIA

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/82044059#Comment_82044059

sorry for the late reply, no they didn’t put up a fight at all, just accepted it was irresponsible

worldsnooker147

https://forums.moneysavingexpert.com/discussion/comment/82053299#Comment_82053299

Ah no problem. Thanks for getting back to me.

Did they take a while for the first response? Ive got 3 irresponsible lending complaints with them and its nearly 6 weeks now with only the initial acknowledgment email

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/82053304#Comment_82053304

hmm I don’t remember it being that long, might be because you have 3 with them?

ManyWays

You have made separate complaints to Zopa about each of the three loans? If these have to go to the ombudsman, I suggest you make a single complaint covering them all.

Were all the loans started in the last 6 years?