Self Managed DMP Help Needed Please

[Facing Facts]

Hi

 

I have just started my self managed DMP using NEDCAB which I have to say I have found really helpful.

 

I am using their templates and sent the first letter advising my financial circumstances have changed and they all replied quite quickly and put my accounts on hold for 30 days.

 

I have literally just posted the second letter which consists of my new monthly payments offers to each lender so that is where I am up to.

 

What I would like to know is below as there seems to be varying information all over the Internet but on this site I have found people to be friendly and helpful and most importantly supportive to each other and that’s why I have joined.

 

1) If a lender accepts my offer so I just keep paying the amount unless my circumstances change and I can increase the payments?

 

2) If they do not accept my offer so I pay the amount anyway to show I am trying?

 

3) I have used the CAB expenditure form so everyone has exactly the same information to look at as some lenders sent me their own and they were so complicated.

 

4) A couple of the lenders asked for wage slips and bank statements which CAB advised not to send as some lenders have been known to use them to add more pressure? I have nothing to hide so I followed CAB advice for now as I figured I can always provide them at a later date.

 

5) Lastly from all of your experiences what’s likely to happen next? I have read horror stories that people have posted in other sites and it’s taken me a while to man up so to speak and do this but now I have I already feel slightly better.........

 

Looking forward to hearing from you x

[dx100uk]

how old are your debts?

 

please list them

[Facing Facts]

Hi

 

Barclaycard I took out the card in 1999

Barclays personal loan 2016

Creation personal loan 2015

Progessive Money personal loan 2016

Tesco personal loan 2014

Sainsburys personal loan 2014

 

All have been fully paid until July. Never missed anything ever before so it’s all new to me.

I have had to give up work as our eldest child is sadly not very well at all and we are down to one income which we can pay all the essential bills out of and have some to spare for sharing out to the above.

 

Ideally I would like to return to work but family literally has to come first.

 

Thank you

[dx100uk]

I was going to suggest a CCA request to each

but as most are very recent not much point

but I WOULD send one to BC [they'll never get one for a 1999 credit card!!

[dx100uk]

as for the overall picture

yes each should get a pro rata offer

and no none have any right to see any pers finantial details like wages etc only a judge can demand those.

 

if you look in our debt collection section of the library

there are similar letters to nedcab I expect bar one.

 

we hold a letter that says something like

well you refused my offer now all you'll get is £1 till I die

you'll see it

i'd be sending that to those that will not agree to your plan

 

its YOUR MONEY take control of it..not let them do it.

 

most will sell your debt on to powerless DCA's within a year now anyway I expect.

then you CAN send each a CCA request regardless!!

[Facing Facts]

Hi again

 

Thank you so much for your reply. I have felt so stressed these recent weeks I am now so glad that I joined.

 

CCA to Barclaycard what does that entail/mean?

 

Thanks

[dx100uk]

go click the link and read it

 

put them to strict proof they hold the signed agreement [and for that era they wont!!]

[Facing Facts]

Thank you for that. I have just send in offer letter have I shot myself in the foot by doing so? I did not know about CCA! I will need some help no doubt later as I will not know what I need for it to be enforceable or not. I will do some research is there more help on here? X

[dx100uk]

well no you've not shot yourself in the foot

CCA request can be done at anytime.

 

as for the offers you've made well as I said they are all recent bar BC

 

click this forums homepage and read a few threads here

 

all will be revealled

[Facing Facts]

I have sent CCA to BC what do I do in terms of only a few days earlier I sent them request for new lower payment? Do I pay that and wait to hear on CCA ?

[dx100uk]

until its confirmed un-en pay what you said

[Facing Facts]

Hello

 

Quick update and need some advice!

 

Sainsburys have accepted the proposed new payment and said if I continue to pay new amount there will be no issues so that is great.

Edited October 22, 2018 by dx100uk
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[victoria_siempre]

Hi

 

 

I am merely offering my experience. There is no single right answer in what is a shifting game. I started with National debt line charity who were supportive and helpful. I found that token payments of £1 were useful as an indication of good intent but extremely unhelpful because your credit file will continue for 6 years beyond your last £1. Even those who accepted the token (and about half of the bandits did not) quickly sold the debt on. So, my advice is to cease the £1 tokens at the point at which it is sold/assigned on or if they fail to enter a truthful default date on the credit file entry (Barclays are particularly nasty). Dx is dead right about not providing the enemy with ammunition.

 

 

 

Bonne chance et bon courage.

 

 

Love

 

 

Vic

 

 

xx

[dx100uk]

well if your credit file is not defaulted yes but if it is

the whole account vanishes on the defaults 6th birthday.

 

I think you mean keeping the statute barred date at bay rather than things being on your creditfile

 

good post mind..

shows you what can be done

dx

[Facing Facts]

Hi Vic!

 

Thanks for your reply I have offered reduced payments not a £1 token but I am guessing I will be treat the same as you...... some will accept and some will not!? So do I hope the default me? I have read so many different things.... I always thought defaults brought big trouble to the door? I am totally uneducated I’m these things..... hence why I joined xxxx

[victoria_siempre]

Hi dx

 

 

I hate to dissent with an old soldier yet sometimes babes bring forth wisdom.

BARCLAYS for Other

 

 

 

Searched on 29 June 2018

 

 

 

is a ClearScore entry prior to it dropping of as a credit entry; they refused to enter a true default date, claiming that so long a s I admitted £1 per month, the account was active.

 

 

Both National Debt Line and yourself implied that a token £1 payment had about the same value as Woodey Allen's 'don't knock the Bishop, it's sex with someone I love'.

 

 

xxx

 

 

vic

[victoria_siempre]

Hi FF

 

 

Whatever you do will affect your credit raitng for at least six years; how you do it might affect it for ever. Should you think that reduced payments and a freeze on interest of 25%+ and charges might enable you satisfy their bloodlust, then it might be a rational course of interest But beware of the snare.

 

 

xxx

 

 

v

[Facing Facts]

Hi Vic ..... what do you suggest I do? It’s really early days for me. In a couple of years I am hoping I can offer full and final payments.

 

One thing Sainsburys have not confirmed is if they are freezing interest and fees so should I write back to them asking this?

 

Xx

[Facing Facts]

DX advice from you is also greatly needed xxx

[victoria_siempre]

Hi FF

 

Context is everything.

 

We used to say that we do not condone debt avoidance.

After Sir Fred the shed kept his 100mill our message became nuanced.

 

With regard to wish to F &F, I return to my point that everything, short of full blood and guts, stays with you for six years.

 

I started with 55k ish and lost my job in the great crash; and my only regret is that I did a 1k F&F with MK.. (which I admit dx advised against); the rest is history, ... you pays your money, you takes your choice.

 

xxx

 

v

[Facing Facts]

Sorry I do not understand your reply.....

 

If I do not pay lower payments they will give me a CCJ which i do not want.....

 

If I settle f and f I would be rid of the debt..... why do you regret doing that?

 

It’s 6 years whatever I do?

 

I can’t not pay...... the debts will not disappear xxx

Edited October 22, 2018 by dx100uk
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[victoria_siempre]

Hi FF

 

 

I go back to context. I was not in a position to pay. If you are then it is a simple negotiation of T &C. You will only get a CCJ if you refuse to make a reasonable offer based on bandits excluding slave interest rates plus chrages.

 

 

 

If you are not I can see little point in paying anything to anybody.

 

 

xxx

 

 

v

[dx100uk]

The oc [original creditor] wont ever do court..they'll sell it on.

 

If a creditor doesnt accept your 1st offer and refuses to freeze int+charges then you send the 2 nd letter £1 till i die.

 

I sometimes wonder if its better to just stop, get the debt defaulted, then negotiate low payment and try f&f.

That way atleast you know it will not be on your file in 6yrs whatever you do.

 

Dont confuse defaulted date with sb date..totally diff things.

 

Each debt is diff which is why its best to have a sep thread for each once paperwork starts to land

[Facing Facts]

Hi so sainsburys have sent me default notice for 10/11/2018 so I’m assuming this is good and the fact that in six years it will disappear off my credit file?

 

CCA the fee is £1 isn’t it?

[Facing Facts]

What is SB date?