My Debt Experience - Learn from my pain

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

Just thought I'd update my DMP thread as its been 6 months!

In July 2012 I decided to take the DMP route as, despite agreeing to payments, most creditors and DCA's still thought it a good idea to hassle me on a regular basis in an attempt to bully me into paying more.

Since that time 4 accounts have been confirmed UE. As one of these is a Shop Direct account I suspect the others will be the same, which means potentially another seven accounts will be UE.

3 were payday loans of which I have dealt with.

The rest I am handling and have gone quiet, if not quieter than when I was on my DMP.

I don't want to attract the attention of the evil eye, but all is quiet on the western front at the moment!

Best
SnV

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

Wow 2 years on and some further good financial news.............

I have now paid off my arrears with my energy supplier and my monthly payments have just been reduced by a third.

Scottish Power were also one of the few companies who helped out right from the beginning.

This is also just a little frustrating. When I first started getting into financial difficulty I contacted my creditors to try to arrange some breathing space so I could get things into order and get back on track.

Were they sympathetic? Did they help? Or did they increase my interest rates, slap on charges, hand my accounts to DCA's, etc.

You know the answer to that.

Where I am at now, I would have been at 2 years ago if my creditors had worked with me to sort things out.

Instead they behaved like complete @holes, and subjected me to hassle and misery for almost 10 months until I decided enough was enough.

I am a great example of how creditors actually contribute to customer debt, rather than try to work with customers to solve it. My creditors were making significantly more money by pushing me further into debt, rather than helping me get out of it.

Sorry for another long rant. I am having a good day and with my 2 year DMP anniversary, am in a reflective mood.

Best
SnV

[SaltnVinegar]

2 Years On - My 2nd Anniverary!

Well the end of August 2012 signifies an important event..................

Its my 2nd Anniversary!!!!!!!

Just over 2 years ago I took back control of my finances, and stepped off the debt treadmill that I had found myself on. Its been a hell of a ride, and I am sure its not over yet, but one things for sure it was the best financial decision I have made and I am very glad I made it.

I could probably have built a house if I had made paper bricks from the letters I have received from creditors.

I have been subjected to outrageous threats, harassment, behaviour from my creditors, and as I have discovered, some of it not just breaching their own 'codes of conduct', but some of it also unlawful.

I have fought back, and, against two of my creditors, have even received compensation totaling a few thousand pounds.

All of this wouldn't have happened without the support from the great folks here on AAD.

Heres to the next 2 years



Best
SnV

[SaltnVinegar]

Another one bites the dust!

Hi All

Well I am doing some good things with my UE approach, and not making payments which are UE, and that is reducing the debts of those creditors that treated me fairly from day 1 (of which there are very few).

To give total credit to Next, there was no hassle, no threats of DCA's or nasty letters, just 'what can we do to help, and then immediately froze interest and charges.

Today I made a payment to my Next account which means I no longer have a Next credit account, but I no longer have a debt with Next either.

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

Update on quickquid can be found here on my UE diary:

allaboutFORUMS - View Single Post - The SaltnVinegar UE Diary

Best
SnV

[SaltnVinegar]

A new era

Ok all.........

All payments have now been cancelled..............

I am going to start up a diary asap, but expect the letters to start arriving very quickly!

It will be interesting to see how things pan out. Sort of nervous and excited at the same time

Best
SnV

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

No point in doing a DMP if they are still charging interest

They added interest and charges on before selling the accounts to Cwapquest and Low-ells, probably to bump up what they could sell the accounts for, plus also to increase what tax they could write off.

Each account, the outstanding amount almost doubled because of the amount of charges they applied on the accounts.

It was only once the debts were sold to the DCA's they started receiving DMP payments.

I think I have an arguement here to get these charges refunded, 35 quid for writing a letter to me because they couldn't contact me by phone seems like an unfair charge to me.

[Never-In-Doubt]

Re: My Debt Experience - Learn from my pain

Are the debts joint or individual names?

Niddy, is it correct that COs aren't worth the paper they're written on if the house is in joint names but the debts individual names?

Yep as its only a restriction and a good conveyancer will "notify" the registered restriction holder on the day of completion thus fulfilling his requirement.

[Spent2much]

Re: My Debt Experience - Learn from my pain

I think the important thing is to find a solicitor who actually understands the distinction and is prepared to work with you to follow the correct procedure.

From the little I know, it would seem that some solicitors are unaware of the difference.

Best
SnV

we won't be selling yet we need to get the UE route out of the way first, this debt will be well and truly gone by the time we sell our house . thank you for your replies and advice its really appreciated

[Wishfull]

Re: My Debt Experience - Learn from my pain

i have read posts were people have sold there house with restrictions and got away with it but none are willing to give the names of who acted for them but a database of such things would be a good idea

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

see post 142

LOL see the time it was posted and post 143!

Great minds think alike

[helmsman]

Re: My Debt Experience - Learn from my pain

I think the important thing is to find a solicitor who actually understands the distinction and is prepared to work with you to follow the correct procedure.

From the little I know, it would seem that some solicitors are unaware of the difference.

Best
SnV

see post 142

[SaltnVinegar]

Re: My Debt Experience - Learn from my pain

so its useless the one they have on our property as it a joint mortgage and the debt is only my husbands.
If i'm reading it right then there is nothing to worry about

I think the important thing is to find a solicitor who actually understands the distinction and is prepared to work with you to follow the correct procedure.

From the little I know, it would seem that some solicitors are unaware of the difference.

Best
SnV

[helmsman]

Re: My Debt Experience - Learn from my pain

so its useless the one they have on our property as it a joint mortgage and the debt is only my husbands.
If i'm reading it right then there is nothing to worry about

As I said earlier it is using a solicitor that understands how to proceed their are quite a few stories of people trying to find a solicitor that does understand this route. Perhaps our preferred solicitors may think about doing some conveyencing how about it Paul I should think there must be thousands out there.

[Spent2much]

Re: My Debt Experience - Learn from my pain

You may all be interested in the following article in relation to charging orders/restrictions......

Best
SnV

so its useless the one they have on our property as it a joint mortgage and the debt is only my husbands.
If i'm reading it right then there is nothing to worry about