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Starting up my own DMP from scratch...


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Okay received the letter from my favorite bank, but it seems a little bit dodgy to me, In one hand it tells me that they are willing to help me me and are sympathetic and in the next breath they are telling me that they will send my account to the collection department...

 

Argh well will just keep paying the £5.88 hopefully they will accept my F+F

 

I have scanned the document but it is way to small how to i make it readable on here?

Overdraft.jpg

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pm dx and he will tell you how to make it bigger. I would not trust the Halifax one inch - i know several people who are having serious problems with them at the moment and they seem to think they are a law unto themselves. Hopefully the complaints will keep going in and some action will be taken against them.

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Thanks for that Tingy, I think my plan with the halifax is to get as much information from sites like these and cases from the website and just keep saving the links etc and when/if they take me to court i can give them examples of bad practices and cases of not supporting people in difficult situations!

 

Had my confirmation full and finals from MBNA X2 cards and once paid i will be saving 3.5k but i wont be happy until i can get some luck with removing the default/partial settlement

 

Have tea now and letters will be commenced ready for the post tomorrow!

 

 

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Yeah i am addicted i think, with this sun though i cannot see myself spending too much time on here but i tend to just scan through in the nights.. I must admit i am a bit confused now with this Full and Final i read on another post that a partial settlement on your file is just as bad as a CCJ, So it just puts another twist on things and more thought and more reading...

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It is absolutely true that a partial settlement is just as bad, BUT I think most people in your situation accept that their credit file is going to be screwed up for 6 years. After 6 years they all fall off and you get your fresh start. Hopefully you may get shot of the actual debts before then so will be able to reap some of the benefits of your hard work.

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Yeah what am i thinking, my file is not worth a welsh cake, Gotta be lucky that they have accept 35%, Really quick question for you.. What happens if say one of my creditors plays ball with me for say 18 months then gives me a sucker punch and defaults me then do my 6 year wait start again?

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Just broke the rule again in ringing capital one but they did my head in today they phoned me in total 6 times 3x mobile and 3x work( i answered 3 times and told them i didn't work there anymore) yet they still phoned again twice Anyway rang capital one and asked for my work number to be deleted(they obv haven't had my harassment letters yet) and he has taken it off but i am sure i have asked for this before, Anyway when i asked for him to confirm in writing that he has deleted the number of the system he got a bit stuck for words and started giving me the address for complaints department, So hopefully they have the message and will see i f i get any more phone calls tomorrow! Oh yeah and he said Mr x if you just pay £xx amount now you will put your account back upto date.....Foool does he not read my account that i have sent them communication i am struggling and can only afford x amount Anyway does anyone have the answer to the question in post 102?

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Hi baz

 

Phone calls at work: make a formal complaint quoting OFT guidance, get a Trading Standards ref no. and follow with a complaint to FOS; it's a pain but it works. Emphasize that you may suffer a significant consequential loss because they are jeopardizing your employment.

 

Post 102: a F&F that is not final is futile.

 

x

 

v

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Yeah what am i thinking, my file is not worth a welsh cake, Gotta be lucky that they have accept 35%, Really quick question for you.. What happens if say one of my creditors plays ball with me for say 18 months then gives me a sucker punch and defaults me then do my 6 year wait start again?

 

If you are paying them under an arrangement to pay and stop paying them then yes, they can default you.

 

Once you commence an arrangement to pay with them they can default you and register this with the CRAs or they can file an "AP" marker on your credit files. Both stay on 6 years although Experian have told me that an AP can stay on for as long as an account is still current.

 

They may not register anything on your cred files at all.

 

If you are paying them a token sum then they have to default you. ICO Guidelines. And they are ordinarilly obliged to do so within 6 months of the repayment plan being set up, other than for mortgages and long-term loans like that.

 

I recently got Barclays to file a default from 2006. The bank wanted to keep an AP on my file for all eternity but I had a letter from 'em saying they had sent me a DN and closed the account. So that data drops off next year now. but it was fooking hard work getting them to cooperate mate.

 

My advice - and I have learned this the hard way for your benefit - is to get the defaults recorded on the CRAs now. It is far better to have Defaults than an AP on your files for 2 reasons:

 

1. The Default has to come off your credit files afetr 6 years whether you have paid the debt off or not. An AP marker will remain on file well beyond 6 years because it will only get removed 6 years after you have come off the AP (if then); and

2. An AP marker is as bad as a Default as far as credirors are concerned and don't you believe any of the bullhooks that states it is seen as a positive ie a debtor trying his best to meet his commitments. Thats complete pants. IMO AP markers are there to shaft us big time. I believe that a lot of creditors prefer APs to Defaults as they leave a much longer footprint on your credit files.

 

I have had to learn the hard way.

 

in 2006 I started a CCCS DMP and 3 creditors defaulted me. The others marked up APs.Next year the defaults drop off but not the APs, which are still running (along with my repayment plans to the creditors that defaulted me).

 

So you are far better off getting a default. How you orchestrate that with your creditors I don't know. If it were me going back in a time machine I would stop paying'em til they defaulted me and then negotiate my DMPs with them or their DCAs.

Edited by The Debt Star

Advice and comments posted by The Debt Star reflect only my personal opinion and it is up to you alone to decide what action you should take. You should always seek independent legal advice from your own qualified legal advisor.

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Okay some great advice i really appreciate something i never really knew about so that has thrown me a little, Anyway back to the update on things with me, I have now got the money together to pay off my two full and final settlements and even got another £100 knocked off, I need some advice now because i have until 20th May to pay it.. Am i to go for the settled off them or just pay them get rid of them and be done with it and have it on my file for 6 months.. PS Capital one phoned me twice yesterday on BANK HOLIDAY, first time they asked me to confirm security so i told them i will only talk if they pass the 5 questions i ask them, NOT POSSIBLE so no conversation and second time i just played them radio 1, they have had my harassment letters now and yet still ring shocking, if anyone is reading this thinking of getting a card with them because they accept you if you have bad credit... DO NOT AT ALL COSTS!!!

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If you are looking at another 6 years of your CRF being trashed anyway, there is nothing particularly to be gained by holding out for settled on this account as other debts will still be reporting negatively. What you do need to do, if it hasn't already happened, is ensure they register a default now, otherwise as said above they can do it later and effectively trash your CRF for 12 years. Settled is really only worth pushing for if you think you'll be settling all the other debts early and needing a better credit score.

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Yeah good shout Tingy on that, They have confirmed everything and mentioned about the terminating my credit agreement once paid, But you are right its trashed now just gotta ensure that the defaults get put on asap, Might win the lottery before 6 years and i will never need credit. What you think about capital one ringing me on bank holiday seriously muppets!

 

Where you going for a while hope all is good?

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Actually going to North Wales. My parents (both 82) had a serious car accident a couple of days ago. Mum has relied on Dad for pretty much everything for the past couple of years, but Dad is in hospital with spinal damage so there's a few bits and pieces to sort out. Mum is determined to stay in the house, but none of us 4 children think she will be able to cope. I'm the one best placed to go over at this point in time, so am going to see what we can get organised and see whether or not Mum will be able to cope long term as obviously Dad will be off the scene for a long time.

 

Mobile broadband reception is poor at best and usually none existant on the island, so not really a holiday, though I hope there'll be some time for some walking and enjoying the beauty of Anglesey - it's a fantastic place.

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Okay so i get a letter through the door from Blair Oliver and someone i cannot remember for my Halifax Overdraft that has gone from £265 and now sits at £375.56 i am assuming charges have gone onto my account for me being overdrawn still.. Okay so set up the standard order to halifax does this now need to change or do you suggest i just continue paying Halifax?

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Welcome back Tingy, Yeah no worries will keep paying as you said! Not much happening other than that, I am just waiting for a Team captain from Haliax to ring me regarding my loan as paying them a £1 a month has made them now want to discuss my account, well they were ment to ring between 5 and half past so im guessing i wont be having that chat today then!

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Spoke too soon just had a phone call from a very miserable James, didnt really tell me anything that i didn't know just talked very slow and very quite. Anyway i did ask him a few questions:

 

What are the halifax going to do about paying off my debt:

 

As i am 5 months in arrears when i go into 6 months they will pass me onto their in house collectors BOS, who will then try to arrange a payment plan that is suitable and he did say the interest will stop, the interest will only stop once it is with BOS.

 

He did say if it is a long term situation with paying a reduced payment it is very likely my account will be sold onto a external DCA, so until that happens £1 a week will continue or until the interest stops!!

 

Okay lets move on from my favorite bank to my most popular incoming phone calls CAPITAL ONE, Well i have payed off my settlements to just awaiting the confirmation from MBNA, anyway i managed to do some negotiating and i have now be able to pay off my debt with capital one, What i want to know is i believe their to be about £100 of bank charges on this so have i got any grounds to put a claim in for bank charges?

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Were the charges applied legally? The way I'm looking at things, if you've agreed a settlement, then you've agreed it against a certain figure owing (including bank charges). If you then start changing the goalposts and sayinng-eg- It's not £500 I owe you, but £400 as £100 was charges, so here's my settlement less £100 then I would imagine you'll nullify the agreement.

 

I've today offered a F&F of £100 against a £3600 debt. Now let me guess the response!

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Hey Tingy well you never Know they might just accept or give u a suggestion on how much they will offer.

 

Sorry Capital one i havent agreed a settlement i have just payed them off the amount i owe, i owed them £400, So havent had any settlement, They have been charging me £12 for not paying on time and £12 for being over limit, Now i thought these were legal but i think i read on here that you can still claim them back? But i am not sure as to be fair to them i didnt pay the full amount on time and i did go over the limit as the charges put me over my limit

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Hey quick update on my DMP, Well i have pulled together £500 to pay off capital one(family member)...Payed them off and then suddenly i had a phone call from Capital One fraud team telling me they want a statement from my bank on how i got the money to pay them off and until then they will not clear the £500

 

Will never ever ever use capital one again they are jokes ring you when you missed payments and suspend your account when you pay them in full

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That is ridiculous. I'd be inclined to write and say if they're not going to cash the money would they return it to you and you'll give it to another creditor. They have no right to see your bank statement and I would dig in my heels in this case and refuse to show it to them. If they don't want your money, give it to someone else who does and tell Capital One that you're stopping paying them a penny as you have offered full payment in good faith and have it in writing that they have refused the payment. I suspect they'll change their minds!

 

Thanks for the update!

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Hi Tingy, Yeah oh this is just great from cap one, Really got to me this did i have spoken to them 3 different times, I spoke to two people who i couldn't understand then when i spoke to someone i could understand basically told me that it is a government policy to get proof of where the payment came from?? I mean they know where it came from as it was a balance transfer, I have now had to fax them a copy of my family members statement, I did that this morning before i went to work, when i got home from work rang them and they tell me that i should ring back in 3 working days, I mean total nonsense and as soon as they are paid they will be getting a nasty letter of complaint. So account is currently suspended and i feel like a fraudster as i always have to go to their fraud department.

 

Part 2 of my update contacted my favorite bank regarding my loan that i currently pay a £1 a month, well their attitude is well you are 5 months in arrears as soon as the sixth one goes through we will simply pass you on to our in house collectors and then pass you onto a 3rd party debt collector, i have received no letters no phone calls, seems just like they have accepted it but it all seems a bit dodgy that they are being so quiet.hmmmmmm

 

How are you by the way?

 

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