DMP Mutual Support Thread - Part 12

January2015 · 31 December 2017 at 9:52PM

Just popping in to wish all my DMP Mutual Support Thread friends every happiness and best of luck with the debt busting in 2018

:beer: :beer: :beer: :beer: :beer: :beer:

motivated · 31 December 2017 at 10:06PM

Hi January, Hope you and yours are well. Happy New year to all debt busting buddies out there and here’s to 2018 and a new debt busting year
I survived and I am still here :beer:
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CP2016 · 1 January 2018 at 1:45AM

Hi January - good to see you visit. Hope all is well with you, and you motivated - what a difference from this time last year.

Happy new year to all and good luck on your DMPs.

[Deleted User] · 1 January 2018 at 11:57AM

Just wanted to wish you all a very Happy New Year:beer:. I hope your festivities went with a bang (especially if they involved fireworks:rotfl:)

Now the spendiest time of year is well and truly over let's all go and attack our debts with vengeance.

Here's to a successful 2018:beer:. Please keep posting your questions and answers and news of your successes and setbacks. Every scrap of information is a help to someone. I've learned so much from the lovely people who take the time to post here:A. I wouldn't have had the confidence to be even remotely where I am on my debt-busting journey without you.

Onwards and upwards, eh?

January, lovely to see you again:T. We've missed you.

Littlebigmoose · 1 January 2018 at 10:16PM

Hie everyone. I’ve been reading through the posts and how I wish I had discovered this thread many years back. I am still reading through the posts but I have a few questions, if anyone would be so kind to answer I would be very grateful.

I have about £18 000 of debt to around 25 creditors. Have been in a dmp for many years first with SC then Payplan. I decided to go self managed last month using National debtline templates and worked out £130 left per month to pay all my creditors. I have informed them that I will start payments from end of January. Problem is I have zero emergency fund and on very low income. I also need to furnish the house as I have recently moved. How can I build an emergency fund?

Also I have been paying Littlewoods my biggest creditor, who have passed to NCO since 2007. Checked in Noddle and it shows that i was 5 months late in payments in July 2013 and was in a dmp in December 2013 but it has never been defaulted. I also have a payday loan since 2014 which never defaulted. How can I ask for them to default me- what exactly do I say?
Thank you for taking the time to read this.

sourcrates · 1 January 2018 at 11:14PM

Littlebigmoose wrote: »

Also I have been paying Littlewoods my biggest creditor, who have passed to NCO since 2007. Checked in Noddle and it shows that i was 5 months late in payments in July 2013 and was in a dmp in December 2013 but it has never been defaulted. I also have a payday loan since 2014 which never defaulted. How can I ask for them to default me- what exactly do I say?
Thank you for taking the time to read this.

Hi,

You simply write and ask them to default you, however, you need an emergency fund first, take time out, stop paying them, or just pay £1 a month to each one.

Get a good pot of money saved, then start again, take as much time as you need, debt collection is a very long term process normally, all the better if every creditor defaults you, and sells on the debt, debt purchasers are much more amenable to discounts and payment plans.

Littlebigmoose · 2 January 2018 at 12:00AM

sourcrates wrote: »

Hi,

You simply write and ask them to default you, however, you need an emergency fund first, take time out, stop paying them, or just pay £1 a month to each one.

Get a good pot of money saved, then start again, take as much time as you need, debt collection is a very long term process normally, all the better if every creditor defaults you, and sells on the debt, debt purchasers are much more amenable to discounts and payment plans.

sourcrates, thank you so much for your response. I feel a bit better. I just hate the constant threatening letters. 6 are defaulted, 6 are not and 12 do not even appear on any credit files. Who registers defaults-Original creditor or debt collection agency if the debt has been sold?

sourcrates · 2 January 2018 at 12:48AM

Littlebigmoose wrote: »

sourcrates, thank you so much for your response. I feel a bit better. I just hate the constant threatening letters. 6 are defaulted, 6 are not and 12 do not even appear on any credit files. Who registers defaults-Original creditor or debt collection agency if the debt has been sold?

Letters are just recycle bin fodder.

Some of them are actually quite funny, big bold letters, you must do this, you must do that, ha, you don’t have to do anything.

What you must remember, is that these letters are specifically designed and worded, so as to make you feel compelled to contact them, that’s there entire purpose in life.

My favourite one is when they say :

“despite several attempts to contact you, we have yet to receive a response”

Despite the fact you’ve been playing letter tennis with them for months.

Really, you can read and digest what they say, then file them in the bin, the only letters you must take notice of are “letters before claim” or any court papers, the rest are just garbage.

Original creditors should issue default, but responsibility can be shared, when a debt is sold the new owner takes over responsibility for your information, as long as the original default date stays the same, all is well.

Littlebigmoose · 2 January 2018 at 3:37AM

sourcrates wrote: »

Letters are just recycle bin fodder.

Some of them are actually quite funny, big bold letters, you must do this, you must do that, ha, you don’t have to do anything.

What you must remember, is that these letters are specifically designed and worded, so as to make you feel compelled to contact them, that’s there entire purpose in life.

My favourite one is when they say :

“despite several attempts to contact you, we have yet to receive a response”

Despite the fact you’ve been playing letter tennis with them for months.

Really, you can read and digest what they say, then file them in the bin, the only letters you must take notice of are “letters before claim” or any court papers, the rest are just garbage.

Original creditors should issue default, but responsibility can be shared, when a debt is sold the new owner takes over responsibility for your information, as long as the original default date stays the same, all is well.

I am in awe of your strength and confidence. Once again thank you.

Suseka97 · 2 January 2018 at 3:36PM

Popping on to join in with the Happy New Year salutations and to wish everyone a great debt-busting 2018.

Have been absent from the forum for a wee while (family issues and still working through them) but am now back to help/offer support where I can. Some may recall I went self-managed in Aug 17 and sent off CCAs to the six remaining creditors (Link and PRA Group). It took Link around 3 months to respond (never did acknowledge receipt of the CCA letters) - they sent back some of what is required (statements, T&Cs etc) but failed to include either a 'true' or 'reconstituted copy' of the original agreement (go figure!). So I'm currently playing letter tennis with them about that. The PRA group contacted me just after Christmas - but nothing to do with the CCA requests (which they did acknowledge), just the standard computer generated rubbish reminding me I'm behind with my payments -whilst offering me F&Fs which amounted to a 10% reduction on the amounts owed (3 accounts) so again a letter is winging its way back to them. So I've been saving what is a fairly substantial sum of money over the last x number of months and am fortunate to now have funds for some F&Fs when the time comes.

I have to admit I do want to get the ball rolling again - so I have redone my I&E ready with either monthly payment offers (but lower than before) or an F&F. Am aiming to be debt-free now as soon as possible and certainly by the end of 2018. It's been a long haul (well 4 1/2 years or so) and I'm ready to move on. Most defaults will drop off in 2019 - one will stay on my OHs file until 2020 because the rotters (Cabot) won't backdate the default, but I can live with that.

This forum has been a godsend over the years and 4+ years ago I could never imagine being this close to debt-freedom. So to all the newbies - stick with it and put your anxieties aside. The whole DMP malarkey is doable and don't let creditors bully or harass you - they are pretty much toothless. Nasty or threatening letters are par for the course and as sourcrates said in an earlier post - just bin fodder. Do stay in touch with creditors / DCAs -but don't let them dictate terms, its your DMP and up to you how you manage it.

DMP Mutual Support Thread - Part 12

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