DMP mutual support thread part 13 !!

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  • HonestS
    HonestS Posts: 49 Forumite
    Hi I’m about to set up a SM DMP and was wondering about interest on my CCs. Most of my balances are on 0% transfers, will I have interest added to them and backdated because I haven’t kept my side of the bargain? I need to brace myself if the debts are going to rise significantly before I’ve even started.
  • Hi HonestS,
    They cant backdate interest. Also a quick update from me. All my creditors have frozen interest. MBNA accepted a payment plan. Halifax have defaulted my loans already and are passing my debts to their collections team and wont add further interest! Tesco have been the slowest but all creditors have been really good and stopped/frozen interest. For any doubters out there, dont panic its the best thing you will ever do!
  • jubilee14
    jubilee14 Posts: 331
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    Hi Honest S. My post a few lines up about finishing DMP was linked to them actually taking interest off that had been applied at time of DMP starting. It looks to me as a rule that some creditors seem to accept thats not the right way to treat people trying to address the debt issues.

    So i would be hopeful thats the case with you and they stop interest in full in a reasonable amount of time. Good luck
    LBM Sept 2012
    started DMP 1.11.12
    Debt [STRIKE]£37012[/STRIKE]/£0 DFD January 2019 :beer:
  • snowbean
    snowbean Posts: 140
    First Anniversary Combo Breaker
    Forumite
    edited 10 January 2019 at 6:23PM
    jubilee14 wrote: »
    Hi All, am a bit excited and surprised. So as i've been coming to the end of the DMP been trying to get things in place for next stage.... Re-mortgage if possible.

    So I was going through bits and bobs and had been advised again to dispute the default date of two of the debts an O/D and an old cc as they took 18 mnths on cc and 2 years on O/d. So i've not heard back from o/d yet. But cc they have agreed to set the default date back to Nov 2012 saying while it was the right thing to do then, its not how they do things now. Also they repaid the interest that was applied up to default date, which meant that the remaining portion is now paid off ( and a bit more in the bank).

    So thats it I am debt free! Cannot believe it as had a couple of months to go. I cant thank this particular forum enough from the early days of panic/shame to day to day queries during management to knowing theres folk out there that understand where you are.

    Wishing you all the best for your DFD journeys!

    Wow, that's fantastic! And how nice that you ended up with a bit extra too!

    Do you mind me asking who that cc was with?
  • HonestS
    HonestS Posts: 49 Forumite
    Great, thanks.

    After all the worrying for months I’m actually quite looking forward to getting to grips with this now. I even fell asleep ten minutes after I got in bed last night, I can’t remember the last time I did that! I’m sure it’s because I’ve spent the last two evenings reading through this thread, I feel like a weight has been lifted just knowing there’s a way through it. I’m really grateful for all the info on here.
  • jubilee14
    jubilee14 Posts: 331
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    snowbean wrote: »
    Wow, that's fantastic! And how nice that you ended up with a bit extra too!

    Do you mind me asking who that cc was with?

    Hi snow bean it was hfx 😄
    LBM Sept 2012
    started DMP 1.11.12
    Debt [STRIKE]£37012[/STRIKE]/£0 DFD January 2019 :beer:
  • Hi all,
    I’ve set up my DMP with StepChange and it’s been a scary process, lots of unknowns but hopeful all will go well. It’s a relief that there is an end in sight (albeit a long journey to get there).
    I have had a couple of rejections - Nationwide for my overdraft (and also expecting them to now reject my loan too.) The other is from Hitachi finance (B&Q HP purchase). The letter from StepChange said to just continue with the payments as planned but I’m not sure what the next stages are? Will it go into their collections process ending in a CCJ?
    Any advice would be appreciated.
    Thank you
  • Hello

    One of my creditors emailed me today to tell me that they are marking my account as credit counciling... Is that just a way of them drawing out defaulting the account so that it stay on my credit file for longer than 6 years?
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  • OCTOBER
    OCTOBER Posts: 17 Forumite
    Hello All,
    just a quick update from me, I am in the process of SM DMP, waiting for replies from my creditors in respect of my offer letters.
    only one creditor has replied up to now, and they have accepted and stated 'for 6 months'
    it is the smallest debt,
    is this normal to state 6 months ? Do I send my budget and same offer letter after 6 months?
    good luck to all the newbies on here - up to now my experience is no way as scary as I first thought!
  • ash28
    ash28 Posts: 1,789
    Mortgage-free Glee! Debt-free and Proud!
    Forumite
    Quote:
    Originally Posted by carbootcrazy viewpost.gif
    Don't necessarily take the creditor's word that a debt is enforceable;). One of my creditors told me that my debt with them was but when I had it checked out (because of the age of it) it turned out it was actually UE:eek:

    For some reason links to the site don't work but I strongly advise you to have a look at the All About Debt website. there's a section devoted to unenforceability and they will scrutinise your paperwork free of charge if you send it via their secure system to a legal expert.





    ash28 wrote: »
    Thanks carbootcrazy, I will get them both checked on All About Debt, probably tomorrow.



    Capital One is from 2000 and Barclaycard (Egg) from around 1997/8 or thereabouts.



    Thanks again.


    Just thought I'd give an update on the status of the CCAs and both are probably unenforceable.


    Capital One: the prescribed terms aren't intact and the originals are missing


    Barclaycard: If it was an Egg card it is unenforceable - now I couldn't say with 100% certainty that it was (but think it was) so I have made a PPI query with Canada Square Operations for the Egg card and an Egg loan I had. Hopefully they will come back at some point and let me know if the card was taken over by Barclaycard...
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