DMP Mutual Support Thread (Part 4)

tass

cloudnine wrote: »

cocker100 wrote: »

Hi,

(This DCA is the scum of the earth. Very very nasty people. You will be in for a rough ride but if you know your stuff and play them at their own game then you will be ok.)


Thanks Cocker100. I've only received one phone call from 1st Credit and as I said, the guy was very threatening. Its early days and I'm expecting them to turn the heat up over the coming few weeks.
The acid test will be if they issue a Stat Demand, as that will prove whether they are bluffing but with my house in severe negative equity I can't see how that will be attractive to them. I feel the time to request the Orginal credit agreement is if and when they issue a Stat demand. I can't see the point doing it before then, but I'm pretty naive to all of this. Thanks again.

It was our experience that 1st Credit dont bluff - they took us all the way and the court issued a decree for payment by instalments - which we were happy enough about - the debt is now technically a secured debt because they got Letters of Inhibition from the Court of Session. It's not a big deal - they can't enforce it unless we default which we won't.

If I had known about requesting CCA's etc I would have gone down that route but unfortunately I didn't and it's too late now.

** Just noticed your comment about negative equity - this wasn't our situation but I don't know if 1st Credit could have known that **

cloudnine_2

Hi Tass. Thanks for the information. Just one question: From start of your relationship to court, how long was that please? I'm obviously taking them very seriously.

cocker100

Hi,

I basically play them at their own game now. A bit like a game of chess!:rotfl: When they make a move, I follow suit. If they are quiet, I stay quiet.

As a rule of thumb, if you would repay your debt to them within 7 years, then they will accept your DMP. If not, then they will try and bully you into paying more. They refused to accept my DMP payment of £32 a month, and said they would only accept £99 a month. I said no way to that so they sent a stat demand thretening to get a charging order and force immediate sale of my house! So I then paid the extra for the next two months and they cancelled the court papers. I then requested the CCA from them and they sent me a edited copy of the original application form. Not what I asked for so again requested the proper documents. Nothing ever came so I stopped the extra payments. I knew they wouldn't send it. I then sent a letter stating they were in default and the debt was in dispute.

They then sent me a default notice back because I had failed to stick to the repayment plan and said they were going to start more legal proceedings if I dont start paying again. This was about 3 weeks ago and i've heard nothing since. They wont start any proceedings because they know they haven't got the proper documents for it to stand up in court and the debt would be made unenforceable!

If they ever try and get a charging order, i'll contact my secured loan company, First Plus, and inform them that they are trying to force me to sell my house when there isn't even enough equity to pay the secured loan off. Knowing First Plus, they'll probably get their own lawyers on to them!!!:rotfl:

1st Credit buy your debt for about 10% of its true value and then hound you for the full amount. There is no way I will pay them back the full amount ever!


Cocker

starlite82

hi all!!

after a full evening of reading many of the posts on this discussion Ive seriously considered that a DMP would be a good option for me.

after doing the online thingy with CCCS my payments would be £374 for 2 yrs and 1 month. Which in itself sounds great as im paying many minimum payments and charges piling up etc so im paying around £790 a month. Some of which would be cleared within 6 months if i really pushed but i just dont think i can cope with it.

I spoke to CAB today who said id qualify for BR but i really dont fancy it, i want to pay this debt off! (around £9500 - however was £17k 3 yr ago!)

basically the things that scare me are:
multiple defaults (although on reading previous posts these are not quite as horrific as i used to think! and i already have a few)
mobile phone contract, i really cant do with a pay and go phone, it just ends up costing me more, will it be possible for me to renew when my contract is up - do they do another credit check if u stay with them? (orang btw)
and finally renting, im with my BF for 4.5 yrs and moving in is maybe an option soon, however im scared id get rejected cos of this! another option is us spending a yr in canada, which is much more likely if on DMP as i could afford to put some cash away...

does anyone have any similiar experiences of any of the above?

my creditors are:
1 Debitas (cap 1)
Credit Card £460
2 GMAC Other £480

3 Halifax Credit Card £1,800

4 Ikea Store Card £250

5 Littlewoods Catalogue £336

6 Lloyds TSB Personal Loan £2,379

7 RBS Overdraft £720

8 The Loan store Personal Loan £500

9 Welcome Finance Personal Loan £2,500
any tips on dealing with the above?

sorry for all the qu's but im pooping my pants!! :rotfl::rotfl::rotfl:


S xx

Shoe_Gal

Hi

I renewed my mobile contract with Vodafone with no problem. In a DMP, with defaults, but never missed a payment to Vodafone. I can only assume they didn't check, just based it on my good record with them

Hope this helps!

starlite82

thanks shoegal!

vodafone are quite picky aswell so ill take that as a very good sign!

also another qu, ive got some direct debits due out tomorrow, should i be cancelling them now? ive not recieved the welcome pack from CCCS or anything yet, but im thinking if i pay some creditors full amounts this month they will be unlikely to accept a reduced payment? :rolleyes:

Im also specifically worried about welcome finance, although ive not heard many complaints on here, its just that i remember when i took out the loan they asked for contact dets of some 'other people - however i cheated and made up the phone numbers!' and they also advised me that they can come out to visit me if i cant pay... my parents would murder me!

S xx

nadine12

Hi all just after some advice please

Myself and my partner are about to start a DMP with CCCS. They have been really helpful and we are hoping we will now be able to get back on our feet financially after having two babies in two years and a lot of stress over money. My question is regarding terrible payday loans that we have taken out and are going to be included in our DMP.
Basically we have probably paid for these two loans three times over in interest as we never have enough money to pay them off. CCCS have advised me about cancelling dds and opening a basic account etc as the bank is one of my creditors, but what I am worried about is these payday companies take the payments via our debit cards.
How do I stop them from trying to do this once they have received my letter? Do I need to cancel our debit cards? Also, at the start the one loan asked for 3 cheques of £100 each to cover the loan if there is a prob with the card. I am worried they will just try to present these and as my guarantee card is for £100 they will clear! Have checked and it will cost me £10 each to cancel with bank which I really can't afford...any ideas??

rugbymum

nadine12
Quick thought. Ring the bank and tell them you've LOST the cards AND the chequebook. If the cheques are lost then they don't charge. This is definately the case with Barclays and I imagine with most others. I did this at the beginning of my DMP with post-dated cheques to one of my creditors. The guy on the phone nearly cried when I told him I had lost 8 cheques (it takes ages to go through the form).

nadine12

Thanks for the reply! Good idea, I am assuming then they will just bounce if they try to present them?

rugbymum

If anyone tries to present them for the payment the bank may call you and ask if you want them paid, just say no, or theywill just bounce them at no charge to you.