DMP mutual support thread part 13 !!

biker_rob · 8 December 2018 at 4:38PM

Little update from me. Things are ticking along as planned with the setting up my self-managed DMP. Financial statement and pro-rata offer letters sent to creditors and I'm now awaiting replies.

Tesco bank have already defaulted and passed on the debt to Allied International Credit, who I have sent my offer letter to. Capital One have sent Notice of Default. No sign of defaults yet from my other 3 creditors.

I will sit back and wait now for the replies. I intend to start the DMP at the end of January, then my journey begins. Emergency fund in place. Almost looking forward to it, which is weird! I'm sure it won't be plain sailing all the way but I'm ready for the challenge.

It was empowering sending those letters knowing I am back in control of my debt and it takes quite a bit of stress off me before Christmas, which is stressful enough by itself.

Ethel_and_Ernest · 10 December 2018 at 1:29PM

We opened a lovely letter this morning from RBS stating that our home is now at risk because of unsecured loan arrears. I rang to ask why and was told that it is because all our RBS accounts are linked, including the mortgage. However, the mortgage is up to date and will continue to be so. The loans are definitely unsecured and the girl I spoke to apologised for the strong wording, confirmed it was inaccurate given the circumstances and said it's 'because a mortgage is held'

Even more worrying is that as well as the two holding letters going astray, they claimed to have no record of our initial phone call. Yet when I provided the date and time of the call, along with the name of the person we spoke to, they acknowledged that there was actually a note on the system after all.

Are RBS renowned for scaremongering and fibs? Only its not a game I'm willing to play...

Anyhow, long story short, we have another 30 days 'breathing space' from today.

[Deleted User] · 10 December 2018 at 4:22PM

Sorry to overdo things:o but I've already posted the query below on the F&F thread. I decided to copy it here as that thread isn't as fast-moving as this one and I'm anxious to get on with sorting things out.

Just had a letter from Link turning down my F&F offer. It was very low so I'm not altogether surprised but I thought it worth a try.

Has anyone any idea what the lowest % discount Link offer please. I know it would probably vary according to a host of circumstances, but a hint of what anyone else received from them would be a big help. I currently owe them around £2200, am on a self-managed DMP and paying them £1 a month. Thanks.

They didn't mention any counter offer in the letter but asked me to phone them to discuss a settlement. I get very flustered doing this sort of thing so want to be very well prepared before I do pluck up the courage to phone them later in the week.

Thanks

Any advice very welcome x

[Deleted User] · 10 December 2018 at 4:26PM

Ethel_and_Ernest wrote: »

We opened a lovely letter this morning from RBS stating that our home is now at risk because of unsecured loan arrears. I rang to ask why and was told that it is because all our RBS accounts are linked, including the mortgage. However, the mortgage is up to date and will continue to be so. The loans are definitely unsecured and the girl I spoke to apologised for the strong wording, confirmed it was inaccurate given the circumstances and said it's 'because a mortgage is held'

Even more worrying is that as well as the two holding letters going astray, they claimed to have no record of our initial phone call. Yet when I provided the date and time of the call, along with the name of the person we spoke to, they acknowledged that there was actually a note on the system after all.

Are RBS renowned for scaremongering and fibs? Only its not a game I'm willing to play...

Anyhow, long story short, we have another 30 days 'breathing space' from today.

Sorry you've had such a worrying time. Honestly, these sort of people don't realise how distressing their ineptness can be. Or maybe they do and intend to give grief to people who're already under stress:mad:. Sorry, can't help with information about whether that sort of behaviour is par for the course from RBS. Hopefully, someone who knows will be along soon with more information. At least you have the extra 'breathing space':j:beer:

Take care x

OCTOBER · 10 December 2018 at 4:41PM

sorry to jump in to this , but I am just beginning my self managed DMP journey,
I am still waiting for some creditors to acknowledge my holding letters, then I can send my budget and offers of payment

should I be asking for CCA evidence at this stage, all my credit cards were taken out many years ago but I have used them up to this year
I don't understand the CCA route ? is it something I should be dealing with ?
thank you all

sourcrates · 10 December 2018 at 5:41PM

OCTOBER wrote: »

should I be asking for CCA evidence at this stage, all my credit cards were taken out many years ago but I have used them up to this year
I don't understand the CCA route ? is it something I should be dealing with ?
thank you all

Yes by all means, a creditor cannot just turn up at court and say Mr X owes us £4000, they must provide evidence in the form of a valid credit agreement, in the same respect, you also have the right to request a copy of this agreement, at any time, as long as a balance remains on your account.

Failure to provide what they legally should provide may mean the agreement cannot be enforced through the courts.

In practice accounts with deficient paperwork usually attract a much lower settlement offer, than ones with compliant paperwork, something to think about for the future.

Dandytf · 10 December 2018 at 7:31PM

I have been considering increasing SC dmp payments for some time though never going through with it getting as far as discusssing possible small increases with Sc via Tel.
What do mser's think if I were to cancel Sky t.v. From early 2019 and increase SC payments by +£60 per month which according to debt free calculator could mean dmp end date Jan 2021.
(I appreciate I have other unsecured lending which I'm paying through normal means slowly and on time)
Is my sacrifice worth considering for dmp end date Jan 20021- currently June 2022.

Changingtimes · 10 December 2018 at 11:25PM

Hi there.
Well I finally sent my DMP papers over to SC . They have emailed me saying they want to speak to me about my I and E Is this routine do they speak to everyone about their I and E prior to setting up the DMP?
Thanks

[Deleted User] · 10 December 2018 at 11:46PM

Dandytf wrote: »

I have been considering increasing SC dmp payments for some time though never going through with it getting as far as discusssing possible small increases with Sc via Tel.
What do mser's think if I were to cancel Sky t.v. From early 2019 and increase SC payments by +£60 per month which according to debt free calculator could mean dmp end date Jan 2021.
(I appreciate I have other unsecured lending which I'm paying through normal means slowly and on time)
Is my sacrifice worth considering for dmp end date Jan 20021- currently June 2022.

It all depends on how much an earlier DFD means to you, it's impossible to advise really. How important is Sky in your life? If you spend very little else on yourself and watch a lot of TV it's not worth making yourself miserable ditching it to hasten your DFD IMO. You actually referred to it as a 'sacrifice'.

Do you want an earlier end to your debts because you may want a mortgage or something that will need a credit-check? It's worth bearing in mind that after 6 years of default all evidence of a debt will drop off your credit file regardless of whether the debt is still carrying a balance. Just clearing a debt if it isn't defaulted or the default has a long time still to run won't have a brilliant effect on your credit file as the fact that you were in a DMP will still be evident to anyone conducting a search.

Lmrcpr · 11 December 2018 at 8:48AM

CHANGINGTIMES
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Hi there.
Well I finally sent my DMP papers over to SC . They have emailed me saying they want to speak to me about my I and E Is this routine do they speak to everyone about their I and E prior to setting up the DMP?
Thanks

They needed to speak to me as well, in my case it was that my outgoing for food looked too low as I hadn't ticked that someone else shares the cost.

DMP mutual support thread part 13 !!

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