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DMP cancelled by Lawrence Charlton - offering Solicitor advice to write off debts?


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Hi there. Total newbie here. Any advice greatly appreciated!!

 

I got into debt a few years ago.

Payday loans the lot (multiple - it's embarrassing. I was a young stupid single Mum).

 

 

Now in a decent job with teenage kids.

 

 

Went into a DMP with Debt-line who then were sold to Lawrence Charlton.

 

Have been paying £130 a month dutifully since 2013.

Although the charges went up significantly when Lawrence Charlton took over I felt safe so kept on with it and owe about £18k to my creditors now.

 

Lawrence Charlton are stopping all DMPs and said I should transfer to Payplan.

OK, except they are offering an alternative too;

solicitor advice regarding writing off debts that have been bought by a second party (which is most of them) as they "may not be enforceable".

 

hang on a minute,

have I been paying companies which I didn't need to for years?

 

Can't I sort this myself?

 

Or Should I just be responsible and set up a DMP with Payplan instead??

 

 

SO confused!!

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Our site team member DX will probably see this and come along and give you some better advice than me. However, to avoid rocking the boat to begin with, I think that I would continue with the DMP or enter into a new one – whichever you have to do so that you don't start getting besieged by people who see a chink and want to start covering whatever they are owed in its entirety.

 

I would suggest that you don't stop any payments but if there is advice on writing off debts then you should see what people have to say and consider your options when you know more about it – but in the meantime, keep on paying instalments.

 

Many people think that debt managers act in your best interests – but this is not generally the case. While you are continuing your instalments, maybe you ought to start looking at these so-called debts and see if you owe as much as you think you do.

 

For instance, have you sent out CCA requests? If you haven't, then you may find that some of the creditors may not be able to supply them in which case the alleged debt is unenforceable at law. Are there any charges – late payment charges – associated with any of the debts and have they been levied at an extortionate rate? If they have, then they should be challenged and you can recover the charges plus any interest on them and that can amount quite a lot. Have you paid any PPI on any of these debts? If you have, then the likelihood is that you can recover all your PPI payments plus interest on those. At the end of the day it could amount to quite a lot of money.

 

Have you got any assets? Do you own a home? £18,000 is an awful lot of money and if you think that you learned your lesson about this kind of borrowing, then if you can't reduce the sum then you might consider bankruptcy. There is very little stigma attached to this nowadays and it gives you a chance to reset the clock to 0.

 

Why don't you start listing out some of your creditors here so that we can understand what the picture is and advise you on the best way to go forward.

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Hi and welcome to CAG

 

I don't usually jump on to threads where there is another member of site team advising but I will add this.

 

Get hold of your statements from the old DMP to show how much has been paid and who to? Also, if they have built up a 'pot' of cash to help with Full and Final settlements then you will want to find out where it is.

 

As it seems you have taken multiple pay day loans out, you may have a case for a mis-selling complaint to each creditor. While pay day lenders are not so strict on checking credit files, they must do an affordability check. Many don't do this routinely so give out loans whatever the risk.

Pay Day loans take up a large amount of time with the Financial Ombudsman but from the ones I have seen, they tend to side with the complainant so, if you feel this is the way to go, you should complain to each company you borrowed off for lending whilst you were obviously in financial strife. They have 8 weeks to respond or reject your complaint. After that you can go to the Ombudsman.

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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Thanks so much for your quick reply. Yes I learned my lesson! Unfortunately no assets. Living in rented accommodation (I would dearly love to buy a home but that has always been out of reach).

 

I did think about bankruptcy before but got scared off. I think it was about the amount of time it would affect my credit rating. Mind you that is pretty bad already as I did get 2 CCJ's back in 2012 (but that means only 1-2 years more to go on my file?)

 

What is a CCA request? (As I said totally new to this!) There were a lot of late payment charges back in the day but that all stopped when I went with the DMP. Not sure how I would find out what the charges were now as most have been sold on to other companies now, would they even know?

 

I had 2 credit cards and 1 loan which yes, I probably did pay PPI on for a while. Any advice on how to do that myself would be gratefully received.

 

If I started listing all my creditors it would take all day....I can start with the biggest ones though! Will do that tomorrow when I can get the details together. THANK YOU!

 

Hi and thank you!

 

I have the statements from the old DMP. No idea about the "pot" of cash but will call them.

 

Boy was I mis-sold pay day loans!! I could certainly write a letter of complaint to the pay day companies but should I wait to see if the debts are "enforceable" first as BankFodder suggested? A couple of the companies already stopped accepting the monthly payments anyway, one seems to no longer exist.

 

I did take one company CFO lending to the Ombudsman when I started the DMP because they wouldn't play and kept adding ludicrous charges. I won that one but as you say it took forever.

 

Looks like I should start a DMP with Payplan in the mean time though just to keep things ticking over though and the wolves at bay...? In your experience do Payplan mind if I start challenging my creditors?

 

Such an amazing site - thank you!

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You could CCA each lender (more info in the library) but I'm not sure they will be much use in your case as it seems most (if not all) were taken out after 2007 when the rules changed.

 

As for Payplan, they are a business and do charge for some of their products. what you need is a non fee charging company. StepChange is better (in my opinion) than PayPlan.

 

Some payday lenders are now defunct which is why we asked for a list of each creditor and amounts outstanding and any charges added to each account.

 

If you have no idea of what is happening, you may have to SAR each creditor for the account history so you can then work out how much was owing and how much was in charges. Unfortunately, each SAR costs a tenner but if you want to do that, there are some helpful templates in the library.

 

As you say, the Ombudsman route is long and arduous but perseverance pays off. Whatever you do, don't go to a solicitor as the majority of what they do, you can easily do it yourself. You could even self administer a DMP if you wanted.

 

Ideally, start a file on each creditor and keep everything there. Stay off the phone unless you can record them (you don't have to tell them this)

 

No DMP provider will be bothered if you challenge the lender, If it came to it, you could tell the provider to stop paying that particular lender. If any of the debts have been sold to debt collectors, this still applies.

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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Hi and thank you Silverfox1961

 

Actually just been on the phone to Lawrence Charlton who have offered me a year long deal with Kingfisher solicitors at £150 a month. The hard selling guy on the phone said they have a success rate of around 80-90% of "significantly reducing or writing off debts".

 

Sounds too good to be true but so tempting as I am working full time (and more) and studying on top for a Msc dissertation. I have so little time!! I have 19 creditors in all totaling £18.000. So even if they managed to reduce my debts by 10% over the year I haven't lost anything. As some (a lot) of them are old pay day companies that no longer exist and most have been bought by second parties it sound like I stand a good chance?

 

I know they are preying on people just like me.........am I mad to be thinking about it?? Does anyone have experience of this?

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Please don't use a fee paying DMP provider when there are free ones out there. Creditors should help where they see you are being responsible by using a free one. It doesn't take much extra time to switch over. Why line a solicitors pockets when you can do the same for free

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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That 150 could be used to pay off your debts. Not given to a solicitor or leecher that does the same thing you can do or a free DMP can.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Their pitch is that they are "World class" solicitors (I wouldn't be in a DMP for the year) who would work on my behalf to write off a load of debt after which I could go back to a regular DMP for whatever is remaining and pay it all off a lot quicker.

 

I don't think any of the free DMP companies would do that?

 

I had no idea this all this was even possible until today but it seems that they saying that everyone is doing it? Has anyone else had any experience of it?

 

I know rengadeimp, it all sounds wrong to me. It's like playing the lottery too I guess? They might not write any off and then I'm just paying them for nothing? Trouble is I don't understand all the jargon on here about how to negotiate with creditors and it all seems so scary to have a ton of letters starting to arrive through the post again.

 

I need to start reading up more about it all.

 

Silverfox said " You could CCA each lender (more info in the library) but I'm not sure they will be much use in your case as it seems most (if not all) were taken out after 2007 when the rules changed". What rules changed then?? I am sure I do have a fair few debts from before 2007.

 

Thanks everyone for your input, much appreciated! PS. Does everyone in this thread get an email when someone else posts?? Yes, I have been in the dark ages..................

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god not that lot..

 

 

yes they had you blind

 

 

and no you don't need to pay anyone to check if your debts are enforceable.

 

 

costs £1 each..

 

 

i'd cancel the plan totally now

 

 

it wont hurt to miss a few payments

esp as you say the debts are with DCA's...

 

 

they are not bailiffs and can do nothing to you.

 

 

can you list your debts please and whom you currently pay [the dca]

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thank you Site team!

The DMP is cancelled already as they have stopped doing DMPs now.

I did NOT sign up for the Solicitor deal.

 

So looks like what I need to know then is how exactly I go about checking if my debts are enforceable and then deal with what I still owe after that with a free DMP?

 

I will list my debts tomorrow. Its gonna be embarrassing...

 

One last question....

.I am moving in with someone who has a good credit rating.

I am obviously going to have to change my address with all my creditors.

Is this going drag down their credit rating too?

Mine has been improving slowly but still in the "poor" section on Noddle!

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no it wont..

hurt her

 

 

well done you're thinking right.

 

 

list please

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Trying to upload a Word document with my list. Not working. Any tips?

 

Oh well. Cant get the file to attach so here we go. Warts and all. Mostly I can't even remember what company they were with in the first place. I was robbing Peter to pay Paul. Can't believe what I did.

 

 

Total Payments paid to DMP £5,914.20

Charges paid £2,038.40

Outstanding amount £16,137.22

 

 

 

1st Credit 861.15

27/7 Moneybox 577.55

Arvato Financial Solutions Ltd 653.67

Cabot Financial Europe 1047.52

Capital Finance One Lending Ltd 1082.61

Capital Resolve Ltd 739.19

Capital Resolve Ltd 484.87

Debt Managers (Services Ltd) 253.40

Department for Work and Pensions 345.77

Instant Cash Loans 122.70

La Redoute 656.33

Lending Stream LLC 507.74

London Mutal 560.79

Lowell Financial Ltd 469.80

Lowell Financial Ltd 1153.29

Moorcroft Debt Recovery 263.60

Motormile Finance UK Ltd 176.38

Motormile Finance UK Ltd 267.02

MYJAR Ltd 160.89

OAKHAM Ltd 305.58

Past Due Credit Solutions 209.85

PRA Group (UK) Limited 170.89

PRA Group (UK) Limited 280.43

Welcome Financial Services Ltd 4314.45

Arvato Financial Solutions Ltd 534.17

 

 

3 of these are CCJ’s although only 2 show on my Noddle account.

Dates are 28/12/12 and 11/7/11. Both still on my file.

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can you add what type of debt each is and who the original creditor was

and when you took it out please

 

 

don't use .doc

the hidden properties will reveal all your details

do file

save as

.pdf and upload it here click upload

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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This is the problem. I can't remember what half of them were for. I do have a mountain of papers which I will need to search through but I don't think I have records for all of them. I guess I could call the companies to find out? Why do you need this information?

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then you sar the DMC.

 

 

you've been fleeced for years

so you need gather all the info you can before your stuff hits their shredder...

 

 

don't worry about the debts too much

 

 

you'll soon get a forest through your door

from that all the required questions upon who owns your debt

what it actually was

and how much pf it has ACTUALLY been paid off in those letters you get.

 

 

then we'll deal with each debt on an individual basis.

 

 

WHEN you get a NEW letter about one of the debts

pop to the main forum tab top left

find the named forum of the BANK that was the original creditor

start a new thread

refer this thread by a link.

and scan up and attach the letter so's we can see it in PDF please.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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This is the problem. I can't remember what half of them were for. I do have a mountain of papers which I will need to search through but I don't think I have records for all of them. I guess I could call the companies to find out? Why do you need this information?

 

You need to create a file for each debt so you have a paper trail of its journey....who it was taken out with......what date...then you know how old it is....what type of debt..as you deal differently with different types of debt.

 

Once all is filed you will then be in a position to easily check the balances......what debt was assigned to who.... and any questions you get thrown here.

 

Andy

We could do with some help from you.

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Do I need to worry about the CCJ's?

They can insist I pay them can't they?

Also the DWP can't be ignored can it?

 

When you say we will deal with each debt on a individual basis what do you mean exactly?

And just to be clear, I shouldn't start a new DMP yet???

 

This is very nice of you to help me like this.

 

 

I do feel a bit nervous about it all, you can see why I would want to hand it over to a solicitor!

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poss start a new thread in the benefits forum on the DWP one?

hope its the DWP you've been paying not sone fleecing DCA that claimed you owed them.

 

 

as for the 2 CCJ's

start a new thread for each one in the financial legal issues forum

and tell us the story.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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