DMP Mutual Support Thread - Part 12

BreakFree14 · 14 July 2017 at 4:22PM

Must admit that I am very surprised and relieved to how my creditors have taken my situation. As above I mentioned I was anxious to inform them but so far they have all responded rather 'nicely' definitely made the experience of having to do this a lot easier than expected.

sourcrates · 14 July 2017 at 4:33PM

BreakFree14 wrote: »

Must admit that I am very surprised and relieved to how my creditors have taken my situation. As above I mentioned I was anxious to inform them but so far they have all responded rather 'nicely' definitely made the experience of having to do this a lot easier than expected.

Although the situation is far from perfect, things are a lot better these days, i still think a six month grace period before further collection activity commences should become mandatory, as per what Martin is campaigning for.

Overall though, as you have found out, creditors have rules to follow as well.

torheb · 15 July 2017 at 8:02AM

I haven't had any phone calls and am in month 2 - I expected constant calls and imagined people turning up on the doorstep- with how quick the stepchange DMP was set up I didn't have chance to contact creditors and they said that's no problem I haven't written to anyone yet - plan to to request interest freezing. Have default letters coming in now which freaked me out at first but I spoke to step change and this forum and now know this is normal! It's been relatively pain free so far!

vaper · 15 July 2017 at 8:15AM

I've just logged in to my barclaycard account ( first time for weeks as I didn't dare to log on) anyway it says

Failure to make the payment requested could result in the issue of a default notice under section 87(1) of the consumer credit act 1974 and /or a reduction in your credit limit.

So is this telling me I am about to be defaulted? It seems pretty quick as I have only missed two months payments and I thought barclaycard were one of the bad guys at issuing defaults.
Mind you, it also says if I pay £944 immediately followed by £288 by 17th July we may be able to be friends again ( I'll just give the money tree a quick shake) lol
Anyone know?
Thanks
V

vaper · 15 July 2017 at 8:21AM

torheb wrote: »

I haven't had any phone calls and am in month 2 - I expected constant calls and imagined people turning up on the doorstep- with how quick the stepchange DMP was set up I didn't have chance to contact creditors and they said that's no problem I haven't written to anyone yet - plan to to request interest freezing. Have default letters coming in now which freaked me out at first but I spoke to step change and this forum and now know this is normal! It's been relatively pain free so far!

Lucky you. I have had constant phone calls, texts and letters (all ignored by me) even though in the letter I sent to everyone I asked to be contacted in writing only. There doesn't seem to be any particular way that any of the CC company's work as everyone on here has a different experience with each one of them.
Anyway I shall keep on playing the ignorant game just as they appear to be doing:)

Suseka97 · 15 July 2017 at 8:25AM

On the subject of 'calls' from creditors - I'd just like to add that my experience matches those of others who have already posted. Yes, one or two were a little more persistent and called my hubby's mobile on a fairly frequent basis (Capital One springs to mind on that) - but after a while he just blocked them (as you can) and they had to resort to letters. In the first 6 months I seem to recall we received various letters, default notices and the like quite frequently - but now we tend only to receive letters once a year around the time of the annual review, if that.

Many of the letters sent are simply automated by creditors when late, or no, payment triggers something in their system. So for all the newbies - just see it as part of the process and file the letters away. You only need to take more notice if, for example, a letter includes something specific in relation to your situation or a response to something you've sent. If it's simply - you owe us, pay now or further action will follow...blah...blah - just file (or bin it).

[Deleted User] · 15 July 2017 at 8:34AM

vaper wrote: »

I've just logged in to my barclaycard account ( first time for weeks as I didn't dare to log on) anyway it says

Failure to make the payment requested could result in the issue of a default notice under section 87(1) of the consumer credit act 1974 and /or a reduction in your credit limit.

So is this telling me I am about to be defaulted? It seems pretty quick as I have only missed two months payments and I thought barclaycard were one of the bad guys at issuing defaults.
Mind you, it also says if I pay £944 immediately followed by £288 by 17th July we may be able to be friends again ( I'll just give the money tree a quick shake) lol
Anyone know?
Thanks
V

In my experience creditors start sending out the 'we may default you' type letters pretty soon after a missed payment or once you start a DMP. It means absolutely nothing in many cases and, although the length of time different creditors take to default can vary very widely, some creditors take many, many months to default. I've had no dealings with Barclays but several of mine actually defaulted around the same time, about 4 months in to my DMP. The others were a bit slower and one eventually defaulted after about 4 years despite similar letters to yours coming regularly:eek:. I'm working on that though and have written to ask them to backdate the default to the same date as the others. I live in hope that they can get their act together and actually do it;). I certainly don't want it on my credit file for years after all the others have gone:(

vaper · 15 July 2017 at 8:44AM

Thanks folks.
I won't hold my breath then.

leanne12345 · 15 July 2017 at 10:37AM

I think I know the answer to this but I am confusing myself for a change. Accounts that are reporting 'up to date' and green but with apr markers, is it still better for these to default? I presume it is so they will fall off after the 6 years but seeing the green on my credit reports has made me wonder.
Thanks

sourcrates · 15 July 2017 at 1:29PM

leanne12345 wrote: »

I think I know the answer to this but I am confusing myself for a change. Accounts that are reporting 'up to date' and green but with apr markers, is it still better for these to default? I presume it is so they will fall off after the 6 years but seeing the green on my credit reports has made me wonder.
Thanks

The problem with AP markers is that they stay on your file for 6 years after you have repaid the debt, so your credit can be screwed up for 12 years instead of 6.

I would always take defaults over AP markers.

DMP Mutual Support Thread - Part 12

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