DMP Mutual Support Thread - Part 12

Summer12 · 5 March 2018 at 3:47PM

sourcrates wrote: »

Usually an account is put on hold whilst the request is actioned.

All it says in the actual legislation is :

(4) If the creditor under an agreement fails to comply with subsection (1)

(a) he is not entitled, while the default continues, to enforce the agreement.

so its a bit vague in respect of what you want to know.

This is why I think I’ll follow the first request up with a second later stating they are in default and should put the account on hold. Thanks Sourcrates

[Deleted User] · 5 March 2018 at 4:49PM

January2015 wrote: »

Token payments.... or no payments ?????

I totally agree with Sourcrates. Token payments are a bit pointless when starting DMP / saving for an emergency fund. It's also correct they cost the creditor more to process than the £1 token payment they receive.

However, I am paying token payments now I have all my accounts defaulted, most transferred from original creditors to DCAs, emergency fund saved. So why am I paying token payments rather than full DMP payments or zero payments. I am paying token payments to 'show willing' with DCAs and keep them on-side so to speak whilst I save for F&Fs. I feel (and it is my opinion only) that if I totally ignore them or don't make some sort of payment they are more likely to start considering more action - what that action may be I have no idea, but worst case scenarios for me would be CCJs or charging orders. I don't want that so I pay token payments. However, during DMP setup, saving for EF and definitely when creditors do not provide information requested under CCA requests - zero payments all the way.

That's my two pennies worth on this subject

Totally agree with your take on this, January, and the way you are dealing with things:T:beer:. I'm doing exactly the same with token payments for exactly the same reason.

System · 5 March 2018 at 4:57PM

Ok, have written a follow up CCA letter to L*nk, just to make myself feel better:) before stopping payments while we wait for their reply. I will now stop the SO's for the 3 accounts until we hear from them.

System · 5 March 2018 at 5:01PM

January2015 wrote: »

Token payments.... or no payments ?????

I totally agree with Sourcrates. Token payments are a bit pointless when starting DMP / saving for an emergency fund. It's also correct they cost the creditor more to process than the £1 token payment they receive.

However, I am paying token payments now I have all my accounts defaulted, most transferred from original creditors to DCAs, emergency fund saved. So why am I paying token payments rather than full DMP payments or zero payments. I am paying token payments to 'show willing' with DCAs and keep them on-side so to speak whilst I save for F&Fs. I feel (and it is my opinion only) that if I totally ignore them or don't make some sort of payment they are more likely to start considering more action - what that action may be I have no idea, but worst case scenarios for me would be CCJs or charging orders. I don't want that so I pay token payments. However, during DMP setup, saving for EF and definitely when creditors do not provide information requested under CCA requests - zero payments all the way.

That's my two pennies worth on this subject

So can I just clarify Jan...You are paying token payments to all creditors. So I presume you just tinkered with the I&E forms to make it look like it was all you could afford? When we started SM last month, I said token payments for 6 months but sent an I&E showing what we would pay after the 6 months. So presume just do another one and make it look like we can still only afford £1?

[Deleted User] · 5 March 2018 at 5:11PM

ploppy57 wrote: »

So can I just clarify Jan...You are paying token payments to all creditors. So I presume you just tinkered with the I&E forms to make it look like it was all you could afford? When we started SM last month, I said token payments for 6 months but sent an I&E showing what we would pay after the 6 months. So presume just do another one and make it look like we can still only afford £1?

That's what I did, ploppy:T

I too initially put a time limit of 6 months on my intention to pay tokens for 6 months. I wish I hadn't now, would have been better to leave it open ended. I didn't mention anything about what the repayment figure would be after the 6 months though. However, all but one of my creditors have let the £1 agrrement run beyond 6 months without even contacting me:j. The only one that has quibbled and asked for an updated I&E is Lloyds (via Wescot) and they say in their letter that it's to ensure that I'm still able to afford what I'm paying now:rotfl:. I think I can just about cope with the £1 I pay them;):p. I'll be sending an updated I&E which will be identical to the last one.

System · 5 March 2018 at 5:23PM

carbootcrazy wrote: »

That's what I did, ploppy:T

I too initially put a time limit of 6 months on my intention to pay tokens for 6 months. I wish I hadn't now, would have been better to leave it open ended. I didn't mention anything about what the repayment figure would be after the 6 months though. However, all but one of my creditors have let the £1 agrrement run beyond 6 months without even contacting me:j. The only one that has quibbled and asked for an updated I&E is Lloyds (via Wescot) and they say in their letter that it's to ensure that I'm still able to afford what I'm paying now:rotfl:. I think I can just about cope with the £1 I pay them;):p. I'll be sending an updated I&E which will be identical to the last one.

WE have 5 with them.....all Ll**ds and H/Fax.
I will just wait till the end of the 6 months and send a new I&E to everybody saying that due to change in circumstances I will continue to pay the £1.
In one way I hate it as it looks as though our debt is not going down quick enough,:eek: but I do appreciate that we will be able to save and get them paid off quicker in the long run.
Hoping to pay the small one we have with N*wd*y very soon as it is only just over £200 left to pay.:)

Summer12 · 5 March 2018 at 6:03PM

ploppy57 wrote: »

WE have 5 with them.....all Ll**ds and H/Fax.
I will just wait till the end of the 6 months and send a new I&E to everybody saying that due to change in circumstances I will continue to pay the £1.
In one way I hate it as it looks as though our debt is not going down quick enough,:eek: but I do appreciate that we will be able to save and get them paid off quicker in the long run.
Hoping to pay the small one we have with N*wd*y very soon as it is only just over £200 left to pay.:)

Can I ask if you have ever been asked to supply wage slips etc to back up your i&e sheet when going self managed. Our problem is most of our enforcable debt is with our bank so they know everything we spend on :eek:

January2015 · 5 March 2018 at 6:12PM

Summer12 wrote: »

Can I ask if you have ever been asked to supply wage slips etc to back up your i&e sheet when going self managed. Our problem is most of our enforcable debt is with our bank so they know everything we spend on :eek:

Move your bank account asap.... never bank where you have debt :eek:

I've never been asked for wage slips or bank statements by anyone other than Stepchange. Once we went self managed, no-one asked and if they did I would have ignored them

Over 2 years in self managed, paying token £1 per month to each creditor and happy to keep doing so

January2015 · 5 March 2018 at 6:14PM

ploppy57 wrote: »

So can I just clarify Jan...You are paying token payments to all creditors. So I presume you just tinkered with the I&E forms to make it look like it was all you could afford? When we started SM last month, I said token payments for 6 months but sent an I&E showing what we would pay after the 6 months. So presume just do another one and make it look like we can still only afford £1?

Yes - I&E evidences we cannot afford more than £1 each to our creditors.

Circumstances change - our did

sourcrates · 5 March 2018 at 6:21PM

Summer12 wrote: »

Can I ask if you have ever been asked to supply wage slips etc to back up your i&e sheet when going self managed. Our problem is most of our enforcable debt is with our bank so they know everything we spend on :eek:

First step before you do or say anything to anyone is.........set up a new basic bank account, with a bank with whom you have no debt !!!

DMP Mutual Support Thread - Part 12

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