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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 15,237Posts
    • 14,333Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

    If you are in a DMP or thinking of one, this is the place to be. We are non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
Page 216
    • January2015
    • By January2015 5th Jul 18, 5:18 PM
    • 2,192 Posts
    • 5,348 Thanks
    January2015
    Hi, i have just joined this forum and i would like some help/advice, I am in debt of 32k and I have looked around and StepChange have said i should go on DMP paying back £749 a month and they said i will be debt free in 3.5 years (which actually seems amazing)! My problem is my Nan left me a holiday home worth 12k - i can not sell it as my parents pay all the bills and upkeep of it - its just in my name. Will StepChange or my creditors expect me to sell it if going in a DMP?
    Also, one of my creditors is Zopa - i read people have had trouble with them. My loan is for 60 months and i have already paid off 12 months of it, with StepChange they have said all debt will clear in 3.5 years which means i would of paid off Zopa quicker then i actually got the loan out for, does that even make sense?
    Also, how scary is it with all the letters or threats from creditors? can StepChange step in with the letters? people also say interest doesn't stop but should i ring the creditors myself before going on a DMP to see if they will stop interest?
    any advice welcomed

    thanks
    Originally posted by LynseyB10
    Don't mention the holiday home. A DMP is an informal agreement.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    • ploppy57
    • By ploppy57 5th Jul 18, 6:25 PM
    • 743 Posts
    • 4,688 Thanks
    ploppy57
    A quick update on my current situation.

    Link are still not responding to the CCA requests (x3) but continue to send letters asking me to contact them to make arrangements to pay. Recently sent letters offering me a very low cost repayment plan - bless them. Current plan is to continue to ignore them.

    PRA are a bit of an enigma - letters received some months ago confirming (x3) accounts are currently UE. After a couple of attempts via calls to my mobile to encourage me to start a repayment plan - they have finally stopped calling (as I requested) and have sent various letters. Interestingly their letters just advise the outstanding balance but is headlined 'This if for information only and not a request for payment', however they include a separate letter offering various options for repayment. Last month they offered me a 10% discount on one, a 20% discount on another - and I've arrived home tonight to find a similar letter offering me a 65% discount on the third one. The third one is the lowest value, but its a good discount so I'm considering accepting using the F&F template as guidance. I do have to say that PRA seem to be better organised than Link, who I feel are basically incompetent.
    Originally posted by Suseka97

    We haver never had replies from L*nk regarding our CCA requests either. Although they were quick to write after I stopped paying them as they hadn't complied with my request. They said we had broken the terms of our agreement etc etc. I wrote back and said that as they hadn't even acknowledged our request for CCA, we would not pay anything until they did. Never heard anything from them since.


    PR* did tell us that all of our accounts are currently UE as they cannot find the relevant paper work and that they would put the account on hold. Since then we have heard nothing from them. This was about 6 months ago, so hoping for some F&F's soon.
    DMP March '15 £57,549. Now £43,583. 24% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... £1500.
    Christmas '18 challenge... £300 /£300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • sourcrates
    • By sourcrates 5th Jul 18, 11:21 PM
    • 15,237 Posts
    • 14,333 Thanks
    sourcrates
    Hi, i have just joined this forum and i would like some help/advice, I am in debt of 32k and I have looked around and StepChange have said i should go on DMP paying back £749 a month and they said i will be debt free in 3.5 years (which actually seems amazing)! My problem is my Nan left me a holiday home worth 12k - i can not sell it as my parents pay all the bills and upkeep of it - its just in my name. Will StepChange or my creditors expect me to sell it if going in a DMP?
    Also, one of my creditors is Zopa - i read people have had trouble with them. My loan is for 60 months and i have already paid off 12 months of it, with StepChange they have said all debt will clear in 3.5 years which means i would of paid off Zopa quicker then i actually got the loan out for, does that even make sense?
    Also, how scary is it with all the letters or threats from creditors? can StepChange step in with the letters? people also say interest doesn't stop but should i ring the creditors myself before going on a DMP to see if they will stop interest?
    any advice welcomed

    thanks
    Originally posted by LynseyB10
    Lynsey,

    A debt management plan is more of a DIY job than anything else, itís not a formal debt solution that has rules like insolvency, itís an informal affair where you retain control of your assets, and no one else.

    You are in control of how itís run, and what you pay, not any debt charity, debt collector, creditors, or anyone else, just you.

    You work out an affordable payment by way of a budget, and then make one monthly payment to stepchange (if thatís who you use).

    Do not mention anything about your other assets.

    Writing to your creditors asking them to stop interest and charges for you is seen as good practice.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • NeverendingDMP
    • By NeverendingDMP 6th Jul 18, 8:28 AM
    • 104 Posts
    • 446 Thanks
    NeverendingDMP
    Hi Lynsey. It's not scary. I can safely say that stepchange will be with you every step of the way if you want them to. I was with stepchange up until a few months ago and they helped me with budget plans and contacted everyone for me. I got some official looking letters but if you ring stepchange or post here then you will find that a good percentage of letters you get are standard letters or information only as you have to be informed you have defaulted etc etc. People you owe money should all know who stepchange are. I contacted my own debts to say what was happening but my hubby to this day still hasn't made any effort. They have all stopped interest on both our debts though.
    Stepchange are thorough in their budget plan and do encourage you to put all available funds to your debts. For example even my banks fiver a month cash back was counted as income. Please check you have got enough wiggle room in your budget and won't be really skint for 3.5 years. If you think you might struggle then please up your petrol food insurance budgets etc by a few quid each to have some spare. And you don't need to tell them your assets if you don't want.
    35,213 in Jan 2018, 31990 remaining.
    Mortgage 77230 in Jan 2018
    75612 remaining.
    • Suseka97
    • By Suseka97 6th Jul 18, 12:20 PM
    • 407 Posts
    • 527 Thanks
    Suseka97
    .....StepChange have said i should go on DMP paying back £749 a month and they said i will be debt free in 3.5 years (which actually seems amazing. any advice welcomed thanks
    Originally posted by LynseyB10
    You've already received some good advice, so the only thing I would add is that whilst being debt free in 3.5 years paying £749 sounds good, that's only if you can genuinely afford that without have to scrimp. I have no bones to pick with Stepchange, and indeed they were extremely helpful in setting up my DMP several years ago at a time I was in complete turmoil - but they did set our DMP payment up much too high and it proved to be unsustainable (hence why I went self-managed last year).

    Also - please don't jump in too quickly and give yourself a minimum of 3 months breathing space making no payments to your creditors in order to build up an emergency fund.

    Good luck
    LBM Apr13: 14 Creditors / £85k+ owed / £11k outstanding (3 x UE / 3 x outstanding)
    • phil788660
    • By phil788660 6th Jul 18, 9:18 PM
    • 5 Posts
    • 0 Thanks
    phil788660
    Hello everyone.

    I entered into a debt management plan with step change over a year ago.

    I owe 2 debts to Intrun group £24k and £2k and 2 debts to PRA group £6k and 8k

    So in total £40k ish. The above debts were sold to the PRA and Intrun group in January this year and I have not missed any payments.

    I have asked for CCA agreements over a month ago and so far only PRA group have come back to me for one of the debts (8K) stating it is unenforceable.

    I chased the others up today but that has been no response from the original lenders

    I am not sure what is the back action I should take from here on both the debt which is UE and the ones I haven't heard back from??

    Any help/advice would be appreciated

    Thanks in advance

    Phil
    • sourcrates
    • By sourcrates 6th Jul 18, 10:05 PM
    • 15,237 Posts
    • 14,333 Thanks
    sourcrates
    Hello everyone.

    I entered into a debt management plan with step change over a year ago.

    I owe 2 debts to Intrun group £24k and £2k and 2 debts to PRA group £6k and 8k

    So in total £40k ish. The above debts were sold to the PRA and Intrun group in January this year and I have not missed any payments.

    I have asked for CCA agreements over a month ago and so far only PRA group have come back to me for one of the debts (8K) stating it is unenforceable.

    I chased the others up today but that has been no response from the original lenders

    I am not sure what is the back action I should take from here on both the debt which is UE and the ones I haven't heard back from??

    Any help/advice would be appreciated

    Thanks in advance

    Phil
    Originally posted by phil788660
    Hi Phil,

    Welcome to the forum.

    Phil, the way it works is this, once you make your CCA request you are essentially entering into dispute with your creditor, under the terms of sec 77/79 CCA, whilst your request for information is been actioned, your account is temporarily unenforceable in court, until you get a response from them.

    If they write back and say itís unenforceable, then you do not have to pay it.

    The ones who are dragging their feet may still produce the goods, but until they do, again the account is unenforceable, and you do not have to pay anything.

    Only once they have provided what they are supposed to provide do you need to make payments again.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • selinek
    • By selinek 7th Jul 18, 6:54 AM
    • 51 Posts
    • 24 Thanks
    selinek
    Hi I noticed on my Noddle that Moorcroft seached my credit file. I imagine they see everything. Has any one had a DCA do a search and what was the outcome. The debt was with another and bought by Moorcroft recently. It!!!8217;s one of my unenforceable debts.
    • Suseka97
    • By Suseka97 7th Jul 18, 10:27 AM
    • 407 Posts
    • 527 Thanks
    Suseka97
    Hi I noticed on my Noddle that Moorcroft seached my credit file. I imagine they see everything. Has any one had a DCA do a search and what was the outcome. The debt was with another and bought by Moorcroft recently. It!!!8217;s one of my unenforceable debts.
    Originally posted by selinek
    Odd, but I guess they are trying to assess your general financial position - but I wouldn't be too bothered. It it's been proved UE then let them search away because they can't really use that information in terms of enforceability, via legal routes.
    LBM Apr13: 14 Creditors / £85k+ owed / £11k outstanding (3 x UE / 3 x outstanding)
    • selinek
    • By selinek 7th Jul 18, 2:42 PM
    • 51 Posts
    • 24 Thanks
    selinek
    Odd, but I guess they are trying to assess your general financial position - but I wouldn't be too bothered. It it's been proved UE then let them search away because they can't really use that information in terms of enforceability, via legal routes.
    Originally posted by Suseka97
    Thanks Suseka, thought it odd myself, but read that DCA's can do that. I suppose the same can be said for agents of original creditors too ? Anyways I plan to sit tight and see what happens
    • Littlebigmoose
    • By Littlebigmoose 7th Jul 18, 5:56 PM
    • 30 Posts
    • 88 Thanks
    Littlebigmoose
    Seems Helifax and L***yds are having a look back at defaulted accounts. I posted that we got almost £500 for the same thing a couple of weeks ago

    Well done - it all helps
    Originally posted by January2015
    Yes that happened to me too. Received a letter from Lloyds two days ago with a credit to my account of almost £80. Not much but still reduces balance so am happy.
    GOAL: To build savings and be debt free
    1. £1000 Emergency fund challenge- number 270... £10/£1000
    2. 1% Challenge 2018- number 23... 0%
    3. 3-6 month emergency fund challenge- number 92...
    4. Sealed Pot Challenge11 - number 014
    • phil788660
    • By phil788660 7th Jul 18, 7:57 PM
    • 5 Posts
    • 0 Thanks
    phil788660
    Thanks for the message.

    Is it worth me following up with the original lenders to see what they have or shall I let the new debt companies continue to investigate?

    After no response in a month what is the chances that they will have the CCA paperwork they need enforce the debt?

    Thanks

    Phil
    • January2015
    • By January2015 7th Jul 18, 10:00 PM
    • 2,192 Posts
    • 5,348 Thanks
    January2015
    Thanks for the message.

    Is it worth me following up with the original lenders to see what they have or shall I let the new debt companies continue to investigate?

    After no response in a month what is the chances that they will have the CCA paperwork they need enforce the debt?

    Thanks

    Phil
    Originally posted by phil788660
    Why would you want to chase your CCA requests? Just wait for the creditor/DCA to get back to you. I had two that took over 18 months to get the CCA from the original creditor. During the period they cannot provide the documentation the debt is unenforceable. It's up to you whether you make payments or not during this period. I didn't - I was hoping they would never find it and I could reach the Statute of Limitations (6 years) but that never happened. It did give me 18 months to save money towards F&Fs though.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    • wanttobethrifty
    • By wanttobethrifty 8th Jul 18, 5:58 PM
    • 4 Posts
    • 7 Thanks
    wanttobethrifty
    after signing up to STEPCHANGE for a DMP last month, all is going well, have had 4 of my 5 creditors writing stating that they will default my account around august/sept time, apart from CREATION, who have stated that they accept the reduced payment plan. how do i get CREATION to default me? i dont want to be paying for the next 4 yr, only to find out that interest is going to continue on this account, therefore not making much of a dent in my balance. anyone dealt with them before and can give me any pointers??
    • Puzzcat
    • By Puzzcat 9th Jul 18, 7:14 AM
    • 3,242 Posts
    • 16,419 Thanks
    Puzzcat
    after signing up to STEPCHANGE for a DMP last month, all is going well, have had 4 of my 5 creditors writing stating that they will default my account around august/sept time, apart from CREATION, who have stated that they accept the reduced payment plan. how do i get CREATION to default me? i dont want to be paying for the next 4 yr, only to find out that interest is going to continue on this account, therefore not making much of a dent in my balance. anyone dealt with them before and can give me any pointers??
    Originally posted by wanttobethrifty
    They never defaulted me, I complained to fos and ico, I did get the interest reduced and then it stopped when the debt was sold on but never defaulted and both fos and ICO backed creation, apparently they don't have to default before selling.
    Christmas 2018 £450 cash/£89 vouchers
    I love my dmp started in Nov 13 with SC. Self Managed 2016 54% done
    £60062/27144.49 - 12068k UE
    Pot Of Gold - £560.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • muppetscotland
    • By muppetscotland 9th Jul 18, 9:45 AM
    • 105 Posts
    • 91 Thanks
    muppetscotland
    Left the country but still paying debts
    Like many on this site, our life turned upside down a few years ago with the failure of our small business, ill health and the local job and housing market crashing all at the same time!

    We realised a DMP was the way to go and rapidly set up agreements with our creditors, all of whom behaved well.

    It took us a long time to get new work but my husband was eventually offered work overseas and we followed as a family this month.

    We are by no means living the high life and our finances are still very stretched as he had to accept a package which was pretty close to the bone due to being basically desperate.

    Our house in UK will hopefully get rented out (our mortgage is in arrears so that's a convo to have with the building society) but for now it is a drain on finances as well as although only paying mortgage interest we still have council tax and all the other stuff like home insurance and utilities to keep the heating on etc (once the heatwave ends!).

    My worry is that if I tell my creditors we are moving away it will prompt action like court action or bankruptcy proceeding. I have very intention of continuing to pay but can't realistically increase the amounts they're getting, certainly not until the house is let. Even then they won't get the original contractual payment as those heady days of high pay in my husband's work sector are long gone.

    So basically what do I do? We are having the post redirected, so I can deal with it from new home country, but what if they send people round, particularly if we have tenants? We're in Scotland so always the risk of bailiffs. I am trying to keep my head but it's hard! Please give me some words of wisdom! Thank you
    Travelling hopefully 🏃
    • sourcrates
    • By sourcrates 9th Jul 18, 12:49 PM
    • 15,237 Posts
    • 14,333 Thanks
    sourcrates
    Like many on this site, our life turned upside down a few years ago with the failure of our small business, ill health and the local job and housing market crashing all at the same time!

    We realised a DMP was the way to go and rapidly set up agreements with our creditors, all of whom behaved well.

    It took us a long time to get new work but my husband was eventually offered work overseas and we followed as a family this month.

    We are by no means living the high life and our finances are still very stretched as he had to accept a package which was pretty close to the bone due to being basically desperate.

    Our house in UK will hopefully get rented out (our mortgage is in arrears so that's a convo to have with the building society) but for now it is a drain on finances as well as although only paying mortgage interest we still have council tax and all the other stuff like home insurance and utilities to keep the heating on etc (once the heatwave ends!).

    My worry is that if I tell my creditors we are moving away it will prompt action like court action or bankruptcy proceeding. I have very intention of continuing to pay but can't realistically increase the amounts they're getting, certainly not until the house is let. Even then they won't get the original contractual payment as those heady days of high pay in my husband's work sector are long gone.

    So basically what do I do? We are having the post redirected, so I can deal with it from new home country, but what if they send people round, particularly if we have tenants? We're in Scotland so always the risk of bailiffs. I am trying to keep my head but it's hard! Please give me some words of wisdom! Thank you
    Originally posted by muppetscotland
    As long as you keep in touch and keep getting the mail, all will carry on as normal.

    As long as itís been paid they will not waste further expense on sending debt collectors or sheriffs round, for the latter to happen it must of gone to court first anyway.

    I was in debt for a good 10 years and never once had a knock on the door, only certain DCAís use doorstep collectors, and thatís usually in cities where they can visit a lot of clients in a short period.

    Donít overthink things.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • OohSoHolly
    • By OohSoHolly 11th Jul 18, 5:02 PM
    • 337 Posts
    • 161 Thanks
    OohSoHolly
    Soooo....

    DMP is due to start on the 1st August I canít express the relief of this and how happy I was to receive the email informing this had been setup. Iíve already had contact from one creditor accepting what StepChange have offered and hope that the rest will follow suit and the phone calls will stop!

    I am having difficulty with PayPal Credit, who donít seem to be interested in my DMP. Has anyone else had any experience with these while on a DMP? I contacted them back in May to inform them of my financial difficulties and that I had contacted StepChange however they havenít acknowledged any of this and still keep applying late payment fees to my account. Iíve contacted them again now my DMP is setup and just hoping Iíll get some acknowledgement of my arrangement
    [I'm Here to Money Save... Are you?]
    • EmergencyNurse
    • By EmergencyNurse 11th Jul 18, 8:18 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Has anyone had any trouble with payments to StepChange not getting to creditors? I've made two monthly payments to StepChange and today I receive a letter from Barclays stating they haven't received their payments. i've checked on my StepChange statements and all the bank details are correct. It's fair to say I'm annoyed because Barclays have now cancelled the arrangement and are moving the account to 'active debt recovery'. They have advised me to contact StepChange if 'I believe the payments should have been made to us'. ..'However this will not suspend further recoveries action'
    FFS wish I'd Self Managed this ducking DMP. from the outset.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • Suseka97
    • By Suseka97 12th Jul 18, 7:26 PM
    • 407 Posts
    • 527 Thanks
    Suseka97
    ......today I receive a letter from Barclays stating they haven't received their payments........ I'm annoyed because Barclays have now cancelled the arrangement and are moving the account to 'active debt recovery'. They have advised me to contact StepChange if 'I believe the payments should have been made to us'. ..'However this will not suspend further recoveries action' FFS wish I'd Self Managed this ducking DMP. from the outset.
    Originally posted by EmergencyNurse
    Contact SC to make sure they have the right details, but other than that,,,,, just ignore Barclays threats. I recall a letter or two from Barclays saying much the same at the outset of my DMP, but eventually everything settled down. It doesn't matter if they 'cancel the arrangement' SC will just keep making payments and in terms of 'further recoveries action' its just standard, routine stuff...it takes a long...long...long time for 'further action' of any note to be worth your attention.
    LBM Apr13: 14 Creditors / £85k+ owed / £11k outstanding (3 x UE / 3 x outstanding)
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