DMP Mutual Support Thread - Part 12

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Comments

  • Suseka97 wrote: »
    I think it was me who said token payments were good from the point of proving you weren't ignoring the DCA, in case they tried to play silly beggars and start any sort of court action. But I didn't realise one of those LINK ones was unenforceable (sorry, this thread moves on so quickly these days I forget what's been posted at times) -anyway with that one I would definitely follow the advice given to stop all contact. Maybe send one last letter saying that you won't be entering into any further discussion referring back to their letter about it being unenforceable and then block them (if they are calling) and just file away any letters. Focus on the ones that are enforceable and carry on with tokens to those.

    It's a bit of a rollercoaster at times - isn't it, but worth standing your ground against these DCAs.

    Thanks, Suseka. I remember now that it was you who gave the advice to keep communication open. I agree on how fast the thread moves at times:eek:. It's hard to keep up and even though a lot of the questions asked by other posters and the answers given aren't always relevant to my situation they are always a fascinating and enlightening read :T


    The letter telling me about the one that's unenforceable said 'currently unenforceable' or something like that which made me think maybe it might turn out to be so eventually and that they are still looking for the paperwork:(. I've read of cases where DCAs suddenly magic up the required information after months have elapsed and I didn't want to do anything to gee them up to do so in this case by such as stopping paying and encouraging them to delve deeper into my account:eek:. I just hope they never produce it and was hoping keeping my head down and paying £1 a month would keep them quiet. Probably not how it works, no doubt sourcrates will be along soon and put me right.


    I do have another debt which so far hasn't produced any CCA information other than letting me know they are working on it:rotfl:. I haven't heard anything further for about 2 months. I've definitely not paid them anything since my CCA request and don't intend to do so unless they come up with the goods.


    Sadly, all my other debts are enforceable even though some date from the late 1990s:eek:
  • Hi everyone... I have read quite a few pages but unable to find the answer to my problem... I have a leaking roof... Roofer has quoted 1800 ! I did get three quotes he's is the cheapest. I just haven't got this money spare so am wondering how SC would react if I asked if I could stop payments for a couple of months. That would give me the money to pay roofer plus a bit over to add back to emergency fund . The thought of speaking to someone makes me anxious so would they accept my request via an email or do you think I would have to speak to someone.
    Thank you and apologies if this has been answered on a previous page and I have missed it.

    BTW been with SC for 14months so quite early into my DMP.. 5 years 11mths to go.
  • Suseka97
    Suseka97 Posts: 1,562
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    Hi Shirt Button.
    I've not had to do that myself over the years (fortunately) so others who have will hopefully be along to advise.
    I rather hope SC would be okay with that - I knew of a friend who used to be on a DMP with SC and he had to suspend his monthly payments on a few occasions when he was hit with a big (car related) bill. His DMP ran for 8+ years and he never found it to be an issue.
    The fact is you need to fix the roof, so really whether they are happy with it or not - you'll have to do it. Please don't be anxious, just give them a call -of course you could use their messaging service, but they'll probably ask you to call them anyway.
    If you call them and they are not sympathetic to your plight - do come back and let us know because there are a good few of us who can help you move over to self managing if it proves necessary.
  • Hi, does anyone have any experience of H&M? They do not appear on any of my 3 credit reports so I'm not sure whether to push for a default or just carry on with my normal payments to them. Thanks ☺
  • meepatme
    meepatme Posts: 26 Forumite
    From reading it it would seem sensible to not engage in a dmp until the accounts are defaulted? Have many people done this, that stop a lender doing the AR that can cause you to have to wait 13 years. It would also allow you to build nest of of 3-4 months until they all default? So pay nothing to any lender till they default after defaulting engage with them into a dmp. I guess serve them a consumer notice template after they issue a default onto the stage of setting up a dmp with the defaulted lender. Do some even wait for the debt to go to a collection agency for FF latter down the road?
  • meepatme
    meepatme Posts: 26 Forumite
    Oh also how long is it before an account would default? 3 months I think I read somewhere, from what iv read your only ever get letters or phone calls really so waiting till they default shouldn't be too bad. From what iv read no one can do anything till a CCj is served. Obviously the lender would of defaulted and a plan of some kind would be in place long before they got near a ccj?
  • sourcrates
    sourcrates Posts: 28,711
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    edited 6 August 2017 at 11:34AM
    meepatme wrote: »
    From reading it it would seem sensible to not engage in a dmp until the accounts are defaulted? Have many people done this, that stop a lender doing the AR that can cause you to have to wait 13 years. It would also allow you to build nest of of 3-4 months until they all default? So pay nothing to any lender till they default after defaulting engage with them into a dmp. I guess serve them a consumer notice template after they issue a default onto the stage of setting up a dmp with the defaulted lender. Do some even wait for the debt to go to a collection agency for FF latter down the road?
    meepatme wrote: »
    Oh also how long is it before an account would default? 3 months I think I read somewhere, from what iv read your only ever get letters or phone calls really so waiting till they default shouldn't be too bad. From what iv read no one can do anything till a CCj is served. Obviously the lender would of defaulted and a plan of some kind would be in place long before they got near a ccj?

    Hi,

    Original creditors very rarely take legal action themselves over consumer debts, instead we have a system where the debts either get managed by debt collectors, or get sold on to specialist debt buyers, or a combination of both.

    Your correct in thinking the weapon of choice for chasing bad debt is the telephone, and failing that, a letter, court action is on the increase, but still less than 2% of outstanding accounts ever get to court, when you consider the amount of debt outstanding in this country reaches into the billions of pounds, it would simply be impossible to take everyone to court, the system would grind to a halt, enter the debt collectors.

    There are a few ways you can tackle your debt, the guys on here prefer the DMP approach, although you can ignore creditors until debts are sold on, then tackle each one individually with settlement offers, with Lowell especially its possible to get up to 60% off certain debts, they buy cheap, so can afford to entice you to settle.

    Defaults are supposed to be applied after between 3-6 missed contractual payments, but it does not always work like that, there are only guidelines to follow you see, there is no easy system of enforcement or regulation, and the complaints procedure can be long and tedious.

    Some creditors are worse than others for this practice.
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  • meepatme
    meepatme Posts: 26 Forumite
    Thanks for your reply I guess some of the rambling is just me getting straight in my head. Debt of about 42k to shake off. Also yes I just arranged for a DMP. I just cancelled my dd to all lenders on Friday also moved all moneys to a neutral bank account. I was going to just let the DMP kick in and off we go.

    BUT after reading some lenders dont default and some of the victories others have had with reduced settlements with DC I think I should go the self managed route.

    I think i leave the lenders alone to default me upon this send the cca letter too them and look to arrange a payment plan with them or settlement if i managed to save some. Two CC, one loan, and overdraft. I doubt they show as not enforceable as they mostly online apps from what i call. Just nice to have some kind of plan now rather then paying out 95% of earning.

    And I think this route could be a lot more effective then IVA or bankuptsey if you can save some money to try settle stuff with the banks
  • meepatme
    meepatme Posts: 26 Forumite
    I kind of feel a bit stupid paying out nearly all of my income out every month for so long. I think I could squirrel away 1k a month not paying the lenders debts being

    HSBC Loan 4,408
    Sainsbury Loan 22,271
    MBNA 6,453
    Overdraft 5,000
    Barclays 3,400

    In 6 months I would be in position to zap one or two of those if i could negotiate 50% off and maybe cure all this long before an IVA or bankruptsey IPA would achieve. Just glad to have a strategy to some degree
  • meepatme
    meepatme Posts: 26 Forumite
    Unenforceability may be a viable option if you have old, unsecured debts that fall within the CCA, mostly where the account was opened before April 2007. A change in the Consumer Credit Act with effect from April 2007 means that accounts opened after that time can still be enforced even if they do not comply with the requirements.

    Seems only one of my accounts is pre 2007 so will issue a CCA against this one you never know
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