DMP Mutual Support Thread - Part 12

Meerkat1979 · 14 October 2017 at 7:40PM

Hi guys , I am new to this site so any advice welcome

I have been in a debt management plan with SC for almost a year and feeling much more in control. Budgeting is going well and life is better all round.

However , I am looking to move in with my partner in the next few months. I am just wondering how this will affect my DMP.

As initially I had thought it best to keep our finances separate. I have been living alone with my two children since my marriage ended in 2010. So I have been paying my mortgage and bills myself. I wanted to see how we get on with living together etc before we become financially linked.

However , I am not sure where that leaves me in relation to my step change budget .

I have also just been offered a full time job, now I have completed my degree and my youngest son is at high School, so I will be in contact with them as soon as I have a start date to let them know I am now going to be in full time employment rather than part time to let them know my new wage ....and hopefully get my Debt free date nearer.

sourcrates · 15 October 2017 at 1:32PM

Meerkat1979 wrote: »

Hi guys , I am new to this site so any advice welcome

I have been in a debt management plan with SC for almost a year and feeling much more in control. Budgeting is going well and life is better all round.

However , I am looking to move in with my partner in the next few months. I am just wondering how this will affect my DMP.

As initially I had thought it best to keep our finances separate. I have been living alone with my two children since my marriage ended in 2010. So I have been paying my mortgage and bills myself. I wanted to see how we get on with living together etc before we become financially linked.

However , I am not sure where that leaves me in relation to my step change budget .

I have also just been offered a full time job, now I have completed my degree and my youngest son is at high School, so I will be in contact with them as soon as I have a start date to let them know I am now going to be in full time employment rather than part time to let them know my new wage ....and hopefully get my Debt free date nearer.

Hi Meerkat,

Your living arrangements are non of your creditors business to be honest, i don't see why, as a DMP is an informal arrangement, that they would need to know.

Obviously if in time, your income increases, due to new job etc, then revisit your budget, and increase payments if you want to.

Most people take the opportunity to save up some cash in order to offer settlement offers further down the line, that's something you maybe want to think about.

IWILLgetthere · 15 October 2017 at 6:33PM

Hello, just thought I'd check in to say that it's now 2 weeks since I sent letters to my creditors and I finally have heard back from...wait for it... 1 out of the 6 ! I had a very nice letter from Capital One thanking me for informing them of my situation, confirming that I am now on a long term repayment plan and that my account has been defaulted - yay! ... 1 down, 5 to go

tonyace123 · 15 October 2017 at 9:25PM

Hi,4 months in on my sc dmp,I am still worried to death about bailiffs coming to my door,a good friend killed themselves because of bailiffs and depts,I make monthly payments on time,what are the chances off them coming to my door as I know that would not help me,all I know these depts are my own doing and I am trying to put things right,can anyone advise if they would come or thanks

sourcrates · 15 October 2017 at 11:01PM

tonyace123 wrote: »

Hi,4 months in on my sc dmp,I am still worried to death about bailiffs coming to my door,a good friend killed themselves because of bailiffs and depts,I make monthly payments on time,what are the chances off them coming to my door as I know that would not help me,all I know these depts are my own doing and I am trying to put things right,can anyone advise if they would come or thanks

Hi,

Please do some research on this, there is a long process to follow before a bailiff would be engaged to collect a consumer credit act debt.

Allow me to just outline what would need to happen to get to that scenario

First off you would have to stop paying your debts, then the creditor would need to obtain a county court judgement against you, you would then have to fail to pay that judgement order, at that point a creditor has the option to either, engage the services of a county court bayliff, apply for an attachment of earnings order, if your working, as well as other measures.

But each enforcement action has a fee associated with it, and each stage can be suspended by yourself if you are repaying the debt, or for some other reason.

People post these frantic messages about bayliffs without researching under what instances they can be used, the best way to stop a bayliff is to keep your doors locked, they cannot force entry for these debts.

There is a wealth of information on the internet, but this site is excellent, it’s run by two solicitors, so the advice they give is accurate :

https://debtcamel.co.uk/tag/bailiffs/

Please stop worrying about something that will never happen.

tonyace123 · 16 October 2017 at 6:40AM

Thank you for the info,because I am paying as much as I can I am safe from bailiffs such a relief

IWILLgetthere · 16 October 2017 at 11:51AM

Good morning all, I received another very nice letter from Capital One this morning confirming they have accepted the amount I have offered to pay and giving me a payment date, also had the same from Nationwide CC this morning along with a default notice.Although this is still scary territory for me, I am already feeling relieved that I won't have to find the huge minimum payments this month . Thank you everyone for your support and advice. Hope I soon hear from other creditors...

Suseka97 · 16 October 2017 at 2:32PM

sourcrates wrote: »

Motivated,
Halifax are still the organ grinders here, Wescott are just the Monkeys, they just deal with taking your payments as Halifax cant be bothered too.
You need to clarify the debts status with Halifax, if not defaulted, ask them to do so.

Yes, do get onto Halifax. Our loan account was handed across to Wescott after around 12 - 18mths (I seem to recall). Westcott were fine - just sent a letter advising to update our payment details with SC, which we did online, heard nothing from them until the day (well almost) we cleared the loan. All they did was confirm the account was settled. I had to push Halifax quite hard to get them to default in the first instance (that did happen a little before, or around the time, they handed the debt over). At the time they ignored my pleas to get the default backdated to when I started in the DMP -but when the loan was settled I wrote another letter spelling out in no uncertain terms how unsatisfied I was with their handling of the account and low and behold the default was backdated.

They may be better at this now - but definitely keep on at them until its confirmed. Oh, and, Westcott never applied interest or charges.

sourcrates · 16 October 2017 at 2:40PM

Suseka97 wrote: »

Oh, and, Westcott never applied interest or charges.

They cant...........they are just a 3rd party interloper.

In terms of been able to add interest and charges, they have as much right to do that as i do.

Just because you call yourself a debt collector, that does not mean they have any more rights or powers than the man in the street has.

The law of the land applies equally, to everyone.

Suseka97 · 16 October 2017 at 2:47PM

tonyace123 wrote: »

Hi,4 months in on my sc dmp,I am still worried to death about bailiffs coming to my door,a good friend killed themselves because of bailiffs and depts,I make monthly payments on time,what are the chances off them coming to my door as I know that would not help me,all I know these depts are my own doing and I am trying to put things right,can anyone advise if they would come or thanks

tonyace123 wrote: »

Thank you for the info,because I am paying as much as I can I am safe from bailiffs such a relief

Please do take the advice given to do some research and definitely take some time to check out the debtcamel website - the information on there is invaluable.

I don't know what your level of debt is, or how long your DMP journey will be -but I started over 4 years ago with over £100k worth of (joint) debt. I've had to deal with phone calls from creditors, threatening letters by the sack-load (okay, slight exaggeration, but you get the picture) -but not once have I had a bailiff or any other form of debt collector at my door. Even now I'm not actually paying a penny because I've gone self-managed and sent in CCA requests to the DCAs handling my debts and I've still not had that 'knock on the door'.

So -put those thoughts aside and carry on doing what you're doing - but do, please, go read up on this. As they say "knowledge is power"

DMP Mutual Support Thread - Part 12

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