DMP Mutual Support Thread - Part 12

Suseka97 · 8 August 2017 at 8:01AM

motivated wrote: »

SC were more than nice and they still did not judge me. I was totally honest with them and all is set up ready to go again. Just a quick check of budget and that was it
M

motivated wrote: »

All 3 creditors, have 2 x debts with each have written to say they will default if I don't make up all arrears etc by the next x amount of time. So we will see. I don't EVER want credit again so however long it takes them.

Hi Motivated.
Good to see you back, but sorry to hear you've had a few anxious months. As vapers said - you've got to do what's right for you and I"m glad to hear SC were helpful and got you all set up again with a DMP. At least you can put your DMP worries aside and hopefully you'll get all your defaults sorted soon and can then just let everything run its course.

I'm still waiting to hear back about my CCAs and will then, depending on the outcome, start the payment negotiations again

If all come back enforceable - which I think they will - I'm going to reduce monthly payments and extend my DMP to end Dec 2018, rather than finish (as it would have with SC) in Mar/Apr 18. Those few extra months (and the 2 /3 months I won't be paying this year) will give me back a good emergency fund and some breathing space.

[Deleted User] · 8 August 2017 at 8:21AM

moitivated, you said you feel embarrassed about having to give up self-management but please don't be. You've done what's right for you, there is no 'one size fits all' with these things.

I was always so relaxed about my debt repayments over the 4 years that SC were handling things. I decided to self-manage from the start of this year and to be honest I don't feel anything like as comfortable about things as I used to. I think it's the fear of the unknown, anything unexpected on the debt-repayment front tends to freak me out.

I did it purely for the flexibility of varying payments as and when I wanted with the aim of forcing creditors' hands into accepting good F&Fs after months of token payments and also giving myself the scope to actually save an money towards the F&Fs.

I get a lot more letters from creditors nowadays than I did when SC were running things (after only receiving account statements from creditors in those days) and this isn't something I feel confident about dealing with. I wish I had the courage to just ignore them or bin them but I don't despite all the great advice from others in here who are much better than me at playing the creditors' games.

So please don't beat yourself up about having a change of direction. I understand very well where you're coming from on this and wish you the very best of luck and, hopefully, nights of untroubled sleep. Take care of yourself:kisses3::coffee:

motivated · 8 August 2017 at 8:46AM

Suseka and CBC

Thank you both and everyone very much for your support. I actually feel more positive already. I received 2 default notices from Halifax that stated if I don't bring my loan accounts up to date by 28th July I will be defaulted. So I imagine I will be hearing from them very soon.

I have sat and redone our budgets and already feel we have a more stable route forward. It's going to need discipline on both our parts but feeling like I have the security of SC behind us has lifted my mood already.

Thanks again and here's to the future DMP journies

Puzzcat · 8 August 2017 at 10:26AM

Good Morning..

Just a little default update from me..

All but one of my creditors defaulted me within the first 2 years.. the one that hasn't I asked/begged/pleaded but to no avail.. so I took it to the FOS who agreed with the creditor....:mad: So I then took it to the ICO, who are very slow by the way.. and they agreed with the FOS.. so despite paying token payments and the debt being sold they are still allowed to not default you...

I will be saving (slowly..) to do a f & f on this one when I can or I will have AR/AP markers for the rest of my life..:rotfl:

Other than that, still self managing.. tokens to 6 of my creditors since Autumn last year busy doing cca requests.. debt going down slowly.. but it is going down...

With a dd at uni all my money is busy for the next 3 years...:(

But I still love my dmp and we will part company eventually..!!!

Keep smiling folks its only money....

Love Puzz. x

sourcrates · 8 August 2017 at 11:26AM

stephppppp wrote: »

Hi all,

New to this thread despite being on a DMP with SC for two years. Nationwide (loan) wrote to me to say that due to an admin error they deem the debt unenforceable and will add this to my credit file. A few questions:

1) It's not on my credit file - how long does this take and how should it appear?
2) Should I be offering a tiny (10%) F&F? It's my smallest debt at £567 and SC has me paying £53 to this debt so it will be cleared in 12 months.
3) Should I not be paying anything if it's unenforceable?
4) Should I be checking if the other debts are unenforceable?
5) I started my DMP in July 2015 and yet the latest default is Nov 2016 (the one I'm referring to!) Can I do anything about this?

Sorry if this info is readily available, SC were amazing at the start but I'm starting to get frustrated with treating all creditors equally and my DFD is still 9 years away....I'm 30 and want to think about a family and a home before I'm 40....

Many thanks!

Hi,

(1) if it's not on your credit file, it won't re-appear.

(2) not in my opinion no.

(3) no, it's unenforceable !!!

(4) yes.

(5) default dates are at the Perogative of the creditor, although the date should be within 6 months of your last contractual payment.

If it isn't, complain.

leanne12345 · 8 August 2017 at 12:04PM

Puzzcat wrote: »

Good Morning..

Just a little default update from me..

All but one of my creditors defaulted me within the first 2 years.. the one that hasn't I asked/begged/pleaded but to no avail.. so I took it to the FOS who agreed with the creditor....:mad: So I then took it to the ICO, who are very slow by the way.. and they agreed with the FOS.. so despite paying token payments and the debt being sold they are still allowed to not default you...

I will be saving (slowly..) to do a f & f on this one when I can or I will have AR/AP markers for the rest of my life..:rotfl:

Other than that, still self managing.. tokens to 6 of my creditors since Autumn last year busy doing cca requests.. debt going down slowly.. but it is going down...

With a dd at uni all my money is busy for the next 3 years...:(

But I still love my dmp and we will part company eventually..!!!

Keep smiling folks its only money....

Love Puzz. x

Hi Puzzcat,

Can I ask who the creditor is that hasn't defaulted you? It must be really frustrating that the FOS and the ICO have sided with them, it just doesn't seem fair at all. I would be inclined to just stop paying them altogether.

Puzzcat · 8 August 2017 at 1:26PM

leanne12345 wrote: »

Hi Puzzcat,

Can I ask who the creditor is that hasn't defaulted you? It must be really frustrating that the FOS and the ICO have sided with them, it just doesn't seem fair at all. I would be inclined to just stop paying them altogether.

Hi,
It was creation finance then sold to Lowell..
It is a pain but I shall just try and get it paid off when I have enough savings to do a f & f.
Puzz

henrryyyy · 8 August 2017 at 1:41PM

I have just had a missed call from Link, should I ring them back? I think this is my first debt that may have been sold on, but I'm not sure which debt it is, I wrote to all my creditors in the past few weeks offering token payments in the hope of getting defaulted, now its real seems a bit scary

google suggests they are a nasty firm to deal with?
Anyone have any ideas what companies sell to link? I tried logging into one account and its saying my account is inactive so I'm guessing itd be that one

lumpyspaceprincess · 8 August 2017 at 1:42PM

Ooh exciting, I checked SC online dmp and my last full payment has gone out... looking like less than £300 to go! Just waiting on the next statement to confirm exactly what is left & to whom.

henrryyyy · 8 August 2017 at 1:45PM

lumpyspaceprincess wrote: »

Ooh exciting, I checked SC online dmp and my last full payment has gone out... looking like less than £300 to go! Just waiting on the next statement to confirm exactly what is left & to whom.

Awesome, congrats!
my debt level is similar to your starting level, when did you start on your plan?
Must be an amazing feeling

DMP Mutual Support Thread - Part 12

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