fairpoint/Midas and a Natwest 'debt' - treating me Fairly - a little strange

[sick of debt]

been on a dmp for 8 years now,

 

 

biggest debt is a 20k loan with natwest which got passed to eversheds

 

everything been fine (as far as fine can been with debt!)

 

 

until the dmp company got in touch

to say that from january, eversheds were no longer accepting monthly payments

as they don't have a record of the debt anymore?!

 

had no letters off them so dmp are wanting to find out whats happened to it

 

did manage to reclaim ppi from them about 3 years ago for 3k which came from rbs,

 

but atm don't know if this is good or bad news?!

[SabreSheep]

Hi there

 

First of all, who is your DMP with?

 

For each debt please list

 

Who was account orignally with

Type of account

Rough Amount

Who owns debt now

When account was taken out roughly

Is there or are there any court proceedings related to the debt.

[sick of debt]

fairpoint is the dmp

 

account was a loan with natwest for 25k which is down to just over 20k now

eversheds now own debt and the loan was taken out originally in 2001 and topped up in 2006, there are no court proceedings

[dx100uk]

fairpoint were/are midas

midas were one of the biggest fleecers out there

I believe they got closed down and the bloke opened under a diff name - fairpoint.

 

 

I seriously suspect you've been cash cowed for years here

and they've been taking fees as well

to do something you can do for free yourself!

is this the only debt through them?

 

 

dx

 

 

 

 

how old is the natwest

[Conniff]

I seriously suspect you've been cash cowed for years...

 

 

a. We do not charge an initial fee for our services. Instead we charge a variable management fee on a monthly basis.

 

 

So half the payments are lost

 

 

 

 

 

 

 

 

 

 

[sick of debt]

So half the payments are lost

 

 

 

 

 

 

 

 

 

 

 

 

 

I started dmp back in 2008 when there was a lot less info about on forums like this

Tbh they charge 30 per month which i know adds up to a lot over time but the hassle that its saved me has helped me to focus on work and family life

[sick of debt]

fairpoint were/are midas

midas were one of the biggest fleecers out there

I believe they got closed down and the bloke opened under a diff name - fairpoint.

 

 

I seriously suspect you've been cash cowed for years here

and they've been taking fees as well

to do something you can do for free yourself!

is this the only debt through them?

 

 

dx

 

 

 

 

how old is the natwest

 

Natwest loan was taken out in 2001 topped up 2006 passed to dmp 2008 then natwest passed it to eversheds 2011ish

 

Its one of those dx, if i knew then what i know now, but tbf i haven't had any grievence with them all this time and i still don't know if I'd be brave enough to take the creditors on myself, thers about 10 in total

[SabreSheep]

Thing is

 

1) You could reclam that 30 a month and use it to pay off some debts

2) DMPs never check the legality of enforceability of those debts.

3) All the time you are paying, the Statute barred clock is not ticking

4) DMPS do not check for ppi or other reclaimable s like credit card charges. WHICH with the compound interest they charge may take big lumps out of what you owe.

 

Its never too late to take the bull by the horns

 

It all starts with post #2 and you have people here to help you

Edited April 10, 2015 by SabreSheep
addition

[dx100uk]

that's roughly £2500 they've had out of you for something you could have done yourself

 

 

anyhow as the debt is now not being collected I'd cancel the dmp and ask for any F&F pot they might have accurred

[which I bet they have if the small print is read]

is gotten back too

[sick of debt]

that's roughly £2500 they've had out of you for something you could have done yourself

 

 

anyhow as the debt is now not being collected I'd cancel the dmp and ask for any F&F pot they might have accurred

[which I bet they have if the small print is read]

is gotten back too

 

Thanks for the replies guys

 

Update from today, fp contacted me earlier to tell me they've been in touch with evershed and they have located the debt at 'another branch' or in 'another department'

 

My concern was if this debt had been sold on to another party and I've not had made token payments by fp

[dx100uk]

I'd still be sending evers a CCA request.

[theoldrouge]

your ppi reclaim has already been wiped out by fairpoint fees

 

why on earth not send the cca request and take over payments yourself

 

at the current rate you will be paying fees for another 30 years

money that could be used in much faster repayments