DMP Mutual Support Thread - Part 12

Suseka97 · 23 June 2017 at 9:45AM

As folks may know I've got a bit of money available from a successful PPI claim and want to try and clear some debts with F&F offers. The first thing I realise is that I will need to go 'self-managed' (gulp) -but I've read some very inspirational stories on here of late that is giving me the confidence I can do this

I will follow advice to send CCA requests to the creditors I'm considering the F&Fs for. I just have one further question and that is I've read in some cases the chances of getting them to agree is more likely to happen if I drop their payments down to tokens for a while - would that be a good idea do you think?

The debts are defaulted and what I don't want to happen is for them to start adding interest or anything daft like that (not sure if a DCA can do that though) -or start threatening court action (although I guess they might as a matter of course, with no intention of following through).

I am a wee bit nervous about this -but I think now's the time to take control and there's nothing to be lost from trying.

StopIt · 23 June 2017 at 9:51AM

Suseka97 wrote: »

As folks may know I've got a bit of money available from a successful PPI claim and want to try and clear some debts with F&F offers. The first thing I realise is that I will need to go 'self-managed' (gulp) -but I've read some very inspirational stories on here of late that is giving me the confidence I can do this

I will follow advice to send CCA requests to the creditors I'm considering the F&Fs for. I just have one further question and that is I've read in some cases the chances of getting them to agree is more likely to happen if I drop their payments down to tokens for a while - would that be a good idea do you think?

The debts are defaulted and what I don't want to happen is for them to start adding interest or anything daft like that (not sure if a DCA can do that though) -or start threatening court action (although I guess they might as a matter of course, with no intention of following through).

I am a wee bit nervous about this -but I think now's the time to take control and there's nothing to be lost from trying.

Once you've sent the CCA requests, the debts will be officially in dispute and when they send you a letter stating as such, the debts will be unenforceable until they comply and either send you the details needed or admit the debts are unenforceable.

As such, you can safely stop paying once the CCA requests are in until a time they are resolved.

If they are unenforceable you can walk away but it doesn't mean the DCA cannot chase you, it just means they can't enforce the debt in court. Because of this it may be prudent to offer a 10%ish offer to close the debts in question for good.

If they are enforceable, then send an F&F offer. They're under no obligation to even consider one but some DCA's are more receptive than others.

Remember: Items like Overdraft debts are not covered by the CCA so you cannot send a CCA request for these debts.

AllTheHelpICanGet · 23 June 2017 at 10:16AM

Sounds like you're in a similar position to me - I'm nervous about going self-managed too! But I think its the only way forward now I have sent off CCA requests and hope to negotiate low F&F's as I am antipicating that a number of my debts will be unenforceable due to their age....

If I received letters advising that the debt is unenforceable and the account on hold what is the normal procedure? Should I stop paying them anything on a monthly basis and just keep offering a low F&F? Or alternatively (and not sure I can do this) I believe I could just not pay full stop?

Scary process!

[Deleted User] · 23 June 2017 at 4:05PM

AllTheHelpICanGet wrote: »

Sounds like you're in a similar position to me - I'm nervous about going self-managed too! But I think its the only way forward now I have sent off CCA requests and hope to negotiate low F&F's as I am antipicating that a number of my debts will be unenforceable due to their age....

If I received letters advising that the debt is unenforceable and the account on hold what is the normal procedure? Should I stop paying them anything on a monthly basis and just keep offering a low F&F? Or alternatively (and not sure I can do this) I believe I could just not pay full stop?

Scary process!

:wave:Welcome to the thread. Good luck with your CCA requests.

Since I was here last I've had mixed results from my own 5 CCA requests:(. I thought that because most of them were really old debts (1998 in a couple of cases) I'd be told that they were all unenforceable. No such luck, I'm afraid:mad:

Last time I was here I was euphoric because LINK had written to tell me that one of the MBNA accounts they had bought was unenforceable. That's around £6000-worth which I'm still deciding what to do about;). I've since had a letter from LINK about the other MBNA debt which is just as old as the other one(late 1990s) but this time amazingly they managed to find/send the paperwork. Bummer:(. There's a lot to read through in what they sent and I'm not exactly sure exactly what I'm looking for:o but the covering letter says they have fully complied with my request and no further correspondence will be entered into by them on the subject:(.

I've also heard back from Wescot/Lloyds saying the same thing so that's another one that I'll have to pay:(. I'm still awaiting a response from the other 2 and hope that no news is good news. Sadly, the 2 that are definitely enforceable are 2 of my biggest debts totalling about £11000 altogether. I am definitely going to drop down to token payments for a few months to hasten the chance of getting good F&Fs. They have been defaulted since 2013. I'm self-managing now anyway so it makes life a bit easier with changing payment amounts.

[Deleted User] · 23 June 2017 at 4:40PM

Have just had a read of the posts I missed since I was here a few days ago. Like January's situation, real life got well and truly in the way:( and I had to let worrying about sorting out my finances take a back seat whilst I had other more pressing things to worry about. Have hit a quiet patch now so am trying to sort out my money situation while I get the chance;). A big welcome back to you, January:beer:

So, sourcrates, If you're around I'd welcome a bit of your invaluable advice please. I see from your reply to heavenlyharry on 21st that you included a copy of a credit agreement. When 2 of my CCA replies came back neither of them included anything like that, just pages of Ts & Cs. The Ts & Cs were undated so I have no idea if they really do relate to the ones that were in force at the time the debts were started or are the current Ts&Cs. Or doesn't it matter? The accompanying letters seem to say that they are the current Ts & Cs but surely that's not what I needed. It's so confusing:(.

Both companies said that they had fulfilled their obligations but I'm wondering if they really have. They also said, basically, that that's the end of the matter:(. Is there anything else I need to know/do please?

January2015 · 23 June 2017 at 4:55PM

carbootcrazy wrote: »

I've since had a letter from LINK about the other MBNA debt which is just as old as the other one(late 1990s) but this time amazingly they managed to find/send the paperwork. Bummer:(. There's a lot to read through in what they sent and I'm not exactly sure exactly what I'm looking for:o but the covering letter says they have fully complied with my request and no further correspondence will be entered into by them on the subject:(.

Don't believe they've complied with enforceable documentation - they are hoping you don't know what you are looking at. MNBA supplied everything right down to statements for every transaction we ever had and a signed application and yes it was my other half's signature. All look fine to me.

I've sent you a PM on what to do to get it checked. Please, please do because I strongly suspect your MBNA debt is unenforceable - and many of your others will be as well.

:beer:

BeingDebtFreeStartsHere · 23 June 2017 at 4:57PM

Question for motivated if you are around or anyone else in a similar situation?

Just saw a few pages back that you have an unenforceable debt with BC and were considering your options with regards to management of this debt. I just wondered if you had decided what route to take? I am in the same position with Nationwide and am not sure whether to remove them from my SC DMP and self manage paying a small monthly amount until I can offer a maybe 10% settlement amount or to write to them telling them I am no longer paying this debt (but worried about the repercussions!!
:eek:

BDFSH x

vaper · 23 June 2017 at 5:05PM

Are there any people who've completely self managed their own dmp right from the start? If so, what do you feel are the benefits?
I've got the bank account set up, wrote to all our creditors and had responses from all but co-op. Things are on hold now until the 5th July. I have had the paperwork from step change just need to sign and return it now along with wage slips but I keep having second thoughts about doing it.
I know for a fact that at some point I will want to go self managed so wonder if I should just start off that way.
At the beginning of July I intend to contact all ourcreditors for the CCA's and see what comes of that.
I'm just worrying that I may be making a mistake not going with step change.
What a dilemma.

motivated · 23 June 2017 at 6:08PM

BeingDebtFreeStartsHere wrote: »

Question for motivated if you are around or anyone else in a similar situation?

Just saw a few pages back that you have an unenforceable debt with BC and were considering your options with regards to management of this debt. I just wondered if you had decided what route to take? I am in the same position with Nationwide and am not sure whether to remove them from my SC DMP and self manage paying a small monthly amount until I can offer a maybe 10% settlement amount or to write to them telling them I am no longer paying this debt (but worried about the repercussions!!
:eek:

BDFSH x

Hi the BC that first said was unenforceable have now sent me another lot of paperwork saying they have found it and will make the debt enforceable now

BUT I don't know if I'm clutching at straws but on the back page it says the charge for balance transfers etc will be 2 50% per something. But on the final T&Cs it says 2.99%
I've sent a follow up saying they have not complied etc. I just have a gut feeling that they are trying it on

MBNA have sent lots of paperwork and it all looks in order (she says)

To be honest I wouldn't even know 100% what to look for

I've stopped payments now and have heard from Halifax today saying due to missed payments if I don't make immediate payment of arrears etc recovery proceedings will commence :eek: What does this mean? These 2 loans are my biggest and scare me the most.

I feel like I've come to a standstill to be honest I haven't paid anyone last month and have had a couple of wobble moments
M

[Deleted User] · 23 June 2017 at 8:57PM

motivated wrote: »

Hi the BC that first said was unenforceable have now sent me another lot of paperwork saying they have found it and will make the debt enforceable now

Oh, that's cruel:(. To have your hopes dashed like that. I hope the same thing doesn't happen over my (so far) only unenforceable one from MBNA/Link as it's a biggie, around £6000. Couldn't bear it if they said they'd made a mistake and had managed to find the paperwork after all.

Sending hugs your way:kisses3:

DMP Mutual Support Thread - Part 12

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