Next Steps...

farmer76

Hi

I have followed the advice from the forum, and stopped payments to my creditors…

I have now started receiving letters mentioning giving notice of default.

Do I now proceed with setting up a DMP, or do I wait to receive the actual defaults?

Thank you for your help

Grumpelstiltskin

Do not rush into making any payments until the debt has actually defaulted and hopefully has been passed on to another company.

Without going back to your previous posts there may be a chance of no CCA being provided.

Use this time to build up your emergency fund.

sourcrates

What do the letters actually say?

Are we talking about "default sums in arrears"?

As that is simply a notification of a late payment charge.

A default notice is an official looking document and cannot be mistaken for anything else, it will be sent under "sec 87(1) CCA" and will clearly state what actions must be taken, and by when, to remedy the breech to your account, and stop it going into default.

Anything else is unimportant, and you must allow the default notice to expire before the account will be defaulted.

Even then you wait until you see the default on your credit file, once defaulted you will be written too by whoever is engaged to chase the debt, until then just do nothing.