DMP Mutual Support Thread - Part 12

motivated · 21 July 2017 at 7:59PM

Hi misslolalove
I have a Santander basic account all opened online. I received a cash card for withdrawals and also a top up debit card. I transfer money onto this for shopping. I only put on it what I can afford to spend. I have even managed to open online savings with them too. Very easy to do it was.
Good luck on your DMP journey
M

motivated · 21 July 2017 at 8:01PM

carbootcrazy wrote: »

Great news about the defaults:T especially as BC are notorious for not playing ball;)

I don't want to rain on your parade over your accounts being sold on but thought my own experience might be useful. 4 of my 6 debts were defaulted during 2013 but have never been sold on to this day. 3 of these were eventually passed to DCAs to 'manage' but the debts are still held by the original creditors:(. They are not BC debts though so I can't hazard a guess as to what they might be planning.

Hi CBC and thankyou for the heads up. With your defaulted accounts still with original creditors have you still been able to pay a reduced sum with no interest etc added?
M

Puzzcat · 21 July 2017 at 9:42PM

motivated wrote: »

Hi CBC and thankyou for the heads up. With your defaulted accounts still with original creditors have you still been able to pay a reduced sum with no interest etc added?
M

Hi,
I have 9 debts, 3 with one creditor.I started my dmp in 2013 and only 3 have sold the debts on. 2 are managed by wescot but the rest are still in house. There is no fixed or fast rule as to how they play.. All no interest through and that is for me the main thing at this time
And I have been on token payments for 6 of them for 9 months...
Puzz
.

[Deleted User] · 22 July 2017 at 6:02AM

motivated wrote: »

Hi CBC and thankyou for the heads up. With your defaulted accounts still with original creditors have you still been able to pay a reduced sum with no interest etc added?
M

Yes, interest frozen from day of defaults in 2013 and never reinstated:j. It's quite common for creditors like banks to pass on defaulted accounts to DCAs to manage and collect for them without actually selling the debts to them.

motivated · 22 July 2017 at 9:18AM

carbootcrazy wrote: »

Yes, interest frozen from day of defaults in 2013 and never reinstated:j. It's quite common for creditors like banks to pass on defaulted accounts to DCAs to manage and collect for them without actually selling the debts to them.

Thanks again CBC
So far I have been lucky that my creditors have all frozen interest and charges. Only Halifax in the beginning added some but I challenged it and got it stopped and refunded. Hopefully they will all continue to freeze it all. Mind you the letters I am receiving from Halifax are from the collections team now so maybe that's what will happen to me.
Every now and then I think about how long I will be able to hold out on token payments,
I am hoping to be able to build up a half decent back up fund before I resume my payments to them ( albeit less than I was paying through SC)
M

motivated · 22 July 2017 at 9:21AM

Puzzcat wrote: »

Hi,
I have 9 debts, 3 with one creditor.I started my dmp in 2013 and only 3 have sold the debts on. 2 are managed by wescot but the rest are still in house. There is no fixed or fast rule as to how they play.. All no interest through and that is for me the main thing at this time
And I have been on token payments for 6 of them for 9 months...
Puzz
.

Hi Puzzcat and thankyou

I have been wondering about the token payment timescale to be honest. I want to be able to carry on for a while yet if possible.
M

motivated · 22 July 2017 at 6:28PM

Just answered the house phone to discover Halifax on the other end. ( I did explain that I wanted everything in writing) Anyway, the lady was very nice to be fair it was regarding the 2 loans I have with them and wanted to confirm that I am still in financial difficulties and will be continuing with token payments. After a short conversation she informed me they will be sending me 2 mandatory letters regarding defaults.

3 months ago I would've been running up the road in fear of that call, not now, I was able to tell them straight about our situation and they were very understanding. Get me now, mrs brave

I get the impression my defaults will be along very soon
M

Rebeccadougherty · 22 July 2017 at 9:11PM

Hi everyone
I didn't mean to sound rude the other day, I just panicked. I've had another letter this time from Lloyds saying I haven't kept to the agreement so they've cancelled it and will begin collection activity, even though I've only so far done one lowered payment which they were fine with when I spoke to them about it. Is this ok? I just continue?

[Deleted User] · 22 July 2017 at 9:27PM

Rebeccadougherty wrote: »

Hi everyone
I didn't mean to sound rude the other day, I just panicked. I've had another letter this time from Lloyds saying I haven't kept to the agreement so they've cancelled it and will begin collection activity, even though I've only so far done one lowered payment which they were fine with when I spoke to them about it. Is this ok? I just continue?

Hi again, Rebecca

Firstly, don't worry about the letter that Lloyds sent you. I've had this type of thing from various creditors at the beginning. Nothing to be alarmed about at all.

It probably means it's being referred to their own Collections Department for the time being. Just standard practice. Absolutely doesn't mean any kind of debt collector will be coming round to your home so put that idea well and truly out of your head. Someone else will be along on the thread to explain better than I have but for now I just wanted to set your mind at rest that nothing bad will happen.

Have a good weekend:beer:

Rebeccadougherty · 22 July 2017 at 9:45PM

Thank you

I think it's already with that department, is that still good lol? I'm sorry I always have soooo many questions, I hope you have a good weekend too

DMP Mutual Support Thread - Part 12

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