DMP Mutual Support Thread - Part 12
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Unfortunately I panicked and called them for my own peace of mind, they explained although they are receiving my payments via step change my arrears are still increasing and once I hit 6.9 months arrears (end of jan) they will pass the case to Westins I think they said who will apply for a ccj and then charging order, lady was really nice and unsure whether it was a scare tactic or the truth but no way I can afford to clear down the arrears and then make my monthly payments so passing the case to westins is inevitable, they went through my I&E stepchange sent so can see I can’t afford the payments but we’ll see what happens.
Just read the letter and it does say they will apply for CCJ as opposed to May.0 -
Having googled I think the company they use is actually Restons0
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Leanneglos1 wrote: »Unfortunately I panicked and called them for my own peace of mind, they explained although they are receiving my payments via step change my arrears are still increasing and once I hit 6.9 months arrears (end of jan) they will pass the case to Westins I think they said who will apply for a ccj and then charging order, lady was really nice and unsure whether it was a scare tactic or the truth but no way I can afford to clear down the arrears and then make my monthly payments so passing the case to westins is inevitable, they went through my I&E stepchange sent so can see I can’t afford the payments but we’ll see what happens.
Just read the letter and it does say they will apply for CCJ as opposed to May.
None of that should change anything, its just a formal procedure they intend to take you through.
Some questions :
(1) do you own your house singly, or is it in joint names ?
(2) How much is the debt ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Yeah the house is in my name, the loan was an interest front loaded loan so amount borrowed was £10,000 with a £1,500 fee however due to interest being added currently sits at £27.000. They have sent me 2 offers to settle at a reduced figure but no way can afford that.0
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Leanneglos1 wrote: »Yeah the house is in my name, the loan was an interest front loaded loan so amount borrowed was £10,000 with a £1,500 fee however due to interest being added currently sits at £27.000. They have sent me 2 offers to settle at a reduced figure but no way can afford that.
Ah its "that" loan is it.
Don`t worry about the charging order, its just a way of securing the debt for them, an order for sale is extremely unlikely, it happens only very rarely, in fact its so rare, they no longer record how many are granted, so dont worry on that score.
Plus there are many stages to this process, and you can have your say at each stage, the creditor does not have it all there own way.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Yes that loan, by the far the biggest regret of my life! I’m actually calm about it now after the initial panick, my credit score is a mess already, a CCJ will just further back up my inability to pay the loan, when I first started this journey I can remember all the stress filled sleepless nights, however determined to not let these slight bumps in the road stress me out, thanks for all your help.0
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A couple of my creditors have put my account on a 30 day hold which will take me into the middle of next month. I think they are expecting me to have something sorted with stepchange by then. As I'm not wanting to start with stepchange till February do I just pay token payments as normal?0
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A couple of my creditors have put my account on a 30 day hold which will take me into the middle of next month. I think they are expecting me to have something sorted with stepchange by then. As I'm not wanting to start with stepchange till February do I just pay token payments as normal?
Token payments are a waste of time in my opinion.
Start your DMP at your leisure, if you get creditor contact, simply write and tell them your taking advice from SC and expect to start your DMP in February as previously discussed.
Thats all you have to do.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »Token payments are a waste of time in my opinion.
Start your DMP at your leisure, if you get creditor contact, simply write and tell them your taking advice from SC and expect to start your DMP in February as previously discussed.
Thats all you have to do.
I've sent a letter to all telling them after my first payment from stepchange will be Feb. This should be enough then I guess.0 -
Hi.
If I'm able to make the minimum payments on my debts would that exclude me from a DMP0
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