DMP Mutual Support Thread - Part 12

Bewildered_Banshee · 29 August 2017 at 9:50PM

Hi
My dmp is just starting - will have a small fund
It's a credit card and no ccjs
I'm scared they could secure a ccj charging order against our house.
Thanks for your help

January2015 · 29 August 2017 at 10:21PM

Bewildered_Banshee wrote: »

Hi
My dmp is just starting - will have a small fund
It's a credit card and no ccjs
I'm scared they could secure a ccj charging order against our house.
Thanks for your help

It's easier to say than for you to do.....but..... don't panic. If you keep in contact with your creditors and let them know of your situation they will not go down the route of a ccj.

We started our DMP in 2015 owing over £95k. We have over £250k equity in our house. No ccj's, no charging orders, no problems with creditors at all. They've all accepted our DMP.

We self manage now and for personal reasons I only pay £1 per month to each creditor. They are all fine with it. I have that in writing from all of them as well.

Just let your DMP start rolling and you will soon relax and stop worrying about ccj's and charging orders. Don't panic about standard computer generated letters that may come. The banks have to send them out. Always come on here and ask advice if you have any concerns.

We have all been through the initial worry stage and believe me it really doesn't take long for everything to settle down now you have taken the steps to set up a DMP.

sourcrates · 30 August 2017 at 12:03AM

Bewildered_Banshee wrote: »

Hi.
Hope someone can help!
So my dmp is just in with Step change.
One of my largest ccs is with Nationwide and reading on the forum they seem to still take action for a ccj which terrifies me.
The dmp is for me only but the house is in joint names, our mortgage is also with Nationwide - we only have shot 10k equity- could they take our house?
Also ate ccjs on a public record anywhere?
Scared!

If they are your debts, and the house is owned jointly, then Nationwide can only obtain a restriction against the property, not a full charging order.

Even if they were to obtain one, orders for sale are pretty rare, and if your repaying via a DMP, most judges would consider that reasonable.

There are Various steps to a CO and you have the chance to object at every stage.

In fact orders for sale are so rare now that they no longer keep records of how many are obtained, as the figure is so small.

You can forget about that happening anyway as I said they can only get a restriction.

Sazzie23 · 30 August 2017 at 1:20AM

sourcrates wrote: »

If they are your debts, and the house is owned jointly, then Nationwide can only obtain a restriction against the property, not a full charging order.

Even if they were to obtain one, orders for sale are pretty rare, and if your repaying via a DMP, most judges would consider that reasonable.

There are Various steps to a CO and you have the chance to object at every stage.

In fact orders for sale are so rare now that they no longer keep records of how many are obtained, as the figure is so small.

You can forget about that happening anyway as I said they can only get a restriction.

And even if in the absolute unlikeliness that it did happen,( as stated by the other OPs, ) a charging order only applies when you sell.....

Put this worry in a box and shut the lid, they'll be a few you need to think more about along soon.

Saz

Sazzie23 · 30 August 2017 at 1:27AM

Danny008 wrote: »

Hey all I'm new to this forum and we are seriously thinking about entering into a DMP. We have approx. 48k of unsecured debt and we are having to live on another credit card after 2-3 weeks of being paid. We haven't defaulted on any payments as of yet. So after coming across this thread I have a couple of questions.
1) We have an house with the help to buy scheme. Will this be affected in any way? We have just remortgaged in a 5 year fixed.
2) One of the loans is an NRAM unsecured loan that we owe 23k on from a together mortgage we got back in 2006. Would I treat this the same way? Currently this rate is at 12.9%, we pay about £10 off the balance a year at £269 a month.
Thanks in advance

Hi Danny

Welcome to the forum, many of us had no missed payments prior to going into DMP, it just needed one thing to push us over the edge, so you've done well to find us before that happens.

Not sure I can answer your questions with confidence, but generally a DMP doesn't impact on a mortgage, other than the mortgage gets prioritised for payment and the unsecured debts are low priority.

As far as the unsecured mortgage loan, I'm not sure but I think we've had other forum items with NR mortgage and loan packages and if memory is not playing tricks they included the loan part in the DMP, but I'd be grateful for someone else to back that up.

Hope that helps a little - try to read through some of the forum pages to get an idea of what you might need to do before you start a DMP.

Saz

Bewildered_Banshee · 30 August 2017 at 6:26AM

Thank you all so much!

heavenlyharry01 · 30 August 2017 at 7:40AM

Danny

I have a current NRAM (NR) together mortgage.
We are self managing a DMP.
NRAM have been fine throughout. Stopped all interest straight away. We pay them the most out of all our creditors and continue to pay the mortgage part separately.
We've offered a few cheeky settlements but they've unfortunately refused.
Any questions, fire away.

torheb · 30 August 2017 at 8:25AM

Hi guys - just looking for a bit of reassurance- we started our DMP in may and it's mostly been trucking along nicely - we're getting used to budgeting better etc etc. We have started getting some scary letters re default notices I had a few letters at the beginning but nothing quite so scary sounding - I'm sure defaults are what we want but the letters still scare me when they are demanding payment and refer to collections? Is this just a standard automated scare letter and should I ignore them? thanks

sile001 · 30 August 2017 at 9:58AM

torheb wrote: »

Hi guys - just looking for a bit of reassurance- we started our DMP in may and it's mostly been trucking along nicely - we're getting used to budgeting better etc etc. We have started getting some scary letters re default notices I had a few letters at the beginning but nothing quite so scary sounding - I'm sure defaults are what we want but the letters still scare me when they are demanding payment and refer to collections? Is this just a standard automated scare letter and should I ignore them? thanks

Sounds like a standard letter. Companies are obliged to send them out after defaults. If in doubt ring StepChange (or whichever debt charity you're with) I'm pretty sure you're OK

lumpyspaceprincess · 30 August 2017 at 11:00AM

Wow...my last payment comes out on Friday. I'm starting to feel nervous bizarrely. I can't wait to see the zero owing, and to benefit from next month's wage!

DMP Mutual Support Thread - Part 12

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