DMP Mutual Support Thread - Part 12

Just starting with SC so can only offer some of my very limited experience.
I was also worried by the letters / legal action etc. Spent weeks reading every post on this forum and it is clear that we, or our situation, is not unusual.

The first letters are starting to come in. Some look to be very formal, and almost threatening.
One creditor (H/fax) wrote and explained that the formal letters will follow (as internal or legal requirement?) but they do not need to be responded to.

Spoke to one creditor on the phone, gave them my SC reference and the could log into SC on their own link, and see what the offer is to them.

From all the other posts on here, it seems that the letters will come flooding in at the beginning of the DMP, but will tail off quite soon.

It may be best if you talk to StepChange for advice.

OohSoHolly wrote: »

Thank Goodness for this forum :A

I’ve been reading through the last few days and despite my initial worries think it’s time to tackle my debt and look at a DMP. Since January I have been staving off a DMP but this has only led me to get a further £900 in debt and my mental health the last few weeks has really taken a turn for the worse, affecting not just me but my relationship with my partner and family.

I think the thing that scares me the most is the beginning, recieving all the letters when the creditors are first contacted and the defaults appear! Also our fixed term on the mortgage is due to end in two months and I was hoping to hold off until then but I just can’t continue on like this anymore.

Oddly the destruction of my credit file doesn’t bother me too much as I never want to look at another credit card ever again!

My partner isn’t aware of my struggles and at the moment I’m happier keeping it this way! I’m also hoping to get a better job in the next 12 months and hope I can therefore pay my debt off sooner. I have the aim of a three year plan, but we will see! I hope to pull on you all for support and thank everyone on here who’s already posted their experiences, I can’t tell you how much it helps to know your not alone...

OohSoHolly wrote: »

...............I think the thing that scares me the most is the beginning, recieving all the letters when the creditors are first contacted and the defaults appear! Also our fixed term on the mortgage is due to end in two months and I was hoping to hold off until then but I just can’t continue on like this anymore.

Trust me it gets easier, the letters will eventually dwindle to the odd annual statement and once defaults are applied you can be happy in the knowledge that all interest and charges will cease. I just wanted to speak to your comment about your fixed term mortgage coming to an end and wanting to hold off because of that. There really isn't any need because being on a DMP wont affect you moving onto another fixed term plan as long as you stay with your current provider.

Zerodebtsoon wrote: »

Woohoo - PRA letter today confirming unenforceable! Old barclaycard, balance is almost 5k. Still waiting to hear from Robinson Way and Sainsburys. What do I do now with PRA? I don't have anything saved for full and finals yet so can't make a cheeky offer. Do I pay token payments until I can start negotiating a full and final or just not bother ?

Good to hear it. We have 3 accounts with PRA (all pre-Barclays) and all turned out to be unenforceable. So for now, do nothing - I've not paid them a penny since I sent off the CCA requests back in Aug17 and I've heard nothing more from them following the letter around a month or so ago telling me they have proven to be UE. That doesn't mean they won't contact me at some point reminding me of my indebtness -and I may at some point offer a low F&F, but I'm not rushing to do so right now. Just play the long game

Leanneglos1 wrote: »

Hello I know this has probably been asked before so apologies, in the process of going self managed, one of the companies have emailed after receiving my letter asking why my wage has gone down from my initial application so have explained why, theyve also asked to see my most recent payslip and 2 months of bank statements before they will accept my offer, I dont want to send these as I have some overtime I am not going to include within my salary figure, any suggestions on what I can reply with? TIA

Tell them whatever you like about the drop in wages - could be you no longer get certain allowances or you've taken a pay cut (its none of their business really). Also, you are under no obligation to send them wage slips or bank statements. Just go back with your I&E and say it is what it is and your offer remains at whatever that is. Stand by your guns and just pay them that amount. If your I&E has proven that's all you can afford, that's all you need to do.

I have just received a termination notice from Barclays regarding my overdraft. they are demanding immediate payment, but say fees are 0% daily. I assume this is a standard letter? They haven't said if they accept my DMP starting 1st May. Do I need to do anything?

Nat

NewbieNat wrote: »

I have just received a termination notice from Barclays regarding my overdraft. they are demanding immediate payment, but say fees are 0% daily. I assume this is a standard letter? They haven't said if they accept my DMP starting 1st May. Do I need to do anything?

Nat

Hi,

I got the exact same letter from Barclays for my overdraft too. I didn't worry about it. I filed it away in the knowledge that this is just part of the DMP process .If it wasn't for the DMP they would definitely be charging interest.

EmergencyNurse wrote: »

Hi,

I got the exact same letter from Barclays for my overdraft too. I didn't worry about it. I filed it away in the knowledge that this is just part of the DMP process .If it wasn't for the DMP they would definitely be charging interest.

Thank you EmergencyNurse. It's now filed away in my shiny new briefcase-type filing system. It reminds me of the ones that bankers carry :rotfl: