Jump to content


slackda

Defaults and DMP

style="text-align:center;"> Please note that this topic has not had any new posts for the last 3625 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi,

 

I have a DMP in place, paying montlhy agreed figures, on time every month, looking at my credit file i have several defaults? is this correct , ok whilst ive not been paying the minumum payments, but i have been making payments to the cards/loans in question.......

 

 

Advice would be most greatful

Share this post


Link to post
Share on other sites

Hi Slackda,

 

As I understand (happy to be corrected on this) it is "best practice" for a credit company to allow 2 or 3 months arrears before issuing default.

 

However, by the letter of the law you need only be in default by one penny and, provided they have served you with a DN and you have not satisfied that DN, they can put you in default.

 

Hope that helps.

 

M


________________________________________________________________

ALL unsolicited PMs and E-mails should be posted up - Not all on CAG are who they appear to be

 

 

My views are my own. If in doubt, seek professional advice. If I can help though, I will. CAG helped me!!

 

Share this post


Link to post
Share on other sites

I should also have said that the DMP does not replace the agreement either - the agrement will still be defaulted upon should the minimum payments of the agreement not be met.

 

M


________________________________________________________________

ALL unsolicited PMs and E-mails should be posted up - Not all on CAG are who they appear to be

 

 

My views are my own. If in doubt, seek professional advice. If I can help though, I will. CAG helped me!!

 

Share this post


Link to post
Share on other sites

Hi Slackda

 

If you dont have alot of creditors then u might want to pay them direct as u will save the !7.5% management fees per month.

 

if ur paying over £250 into the scheme check to see if a IVA would suit you as well,

 

Cheers James

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...