New member needing advice please!!

[Max]

Thank you to anybody who can give me some advice as this problem keeps going around in my head!!!

Basically I have been with Payplan for 5 years paying what we can afford every month. Debt was originally about £45,000 with 14 creditors. We decided to sell our house this year as it would take another 7 years to pay off the debts with Barclays still charging me interest .

We paid off 3 charging orders when we sold and have gone into rented and have about £18,000 left between 11 creditors. All our defaults range from 2008/2010.

we have some cash left from the sale and maybe I am greedy but I want to keep as much as possible towards a deposit for a mortgage in maybe 3 years time.
payplan ( who were really unfriendly to me at the moment) are stating that the creditors will know how much money is in my current account and that I will have to use all my surplus for them to negotiate with the 11 creditors to see if they can agree full and final settlements.

Would you advise me to let Payplan do this or come out of the DMP and start dealing with the creditors myself?

Thanks for your time,
regards
Max

[Never-In-Doubt]

Re: New member needing advice please!!

Hi & Welcome

id keep it and play UE route. Too right

someone will pop by soon, I'm off for a cuppa. Read the Unenforceability Section --> http://forums.all-about-debt.co.uk/f...enforceability

[Max]

Re: New member needing advice please!!

Thanks for your quick response Never-In-Doubt. I will have a look at UE route. Always something else to learn!!
regards
Max

[Never-In-Doubt]

Re: New member needing advice please!!

Ok couple of questions -

1. Whose name is the debt in? ie solely yours? Your partners? Joint? Mixture?
2. Are you happy to cancel your DMP? If so do it and state you'll do it yourself from now on - however I'd wait till after Xmas so you have a peaceful crimbo but just don't pay pay plan again - cancel the payment

[MrsD]

Re: New member needing advice please!!

Payplan are lying to you, this situation is just nonsense

did someone tell you this on the phone or did they write this down.

the money from the sale of your house is yours, and payplan have NO right to tell you what to do with it.

Basically if you have moved to rented accommodation, paid off the charging orders what exactly can a DCA do now?

not a lot!

[Max]

Re: New member needing advice please!!

Thanks for your replies.
1) The debts are a combination of mine and my partners.
2) The DMP has been a part of our lives for 5 years so for my wife she is keen on letting them negotiate as she worries we could end up in court again if we don't pay all the outstanding debts. She thinks the creditors know how much money we have and that they will not stop until we pay every penny outstanding. I understand her fear as being in court in 2008 on 3 occasions was not pleasant. I am sick of the creditors charging interest and adding charges while we have done are best to pay what we could afford. I want to keep as much of our money for our family.
My wife would agree to dropping the DMP but I think after x-mas is a good idea.
Payplan have been telling me this information over the phone.

Many Thanks
Max

[Never-In-Doubt]

Re: New member needing advice please!!

Thanks for your replies.
1) The debts are a combination of mine and my partners.
2) The DMP has been a part of our lives for 5 years so for my wife she is keen on letting them negotiate as she worries we could end up in court again if we don't pay all the outstanding debts. She thinks the creditors know how much money we have and that they will not stop until we pay every penny outstanding. I understand her fear as being in court in 2008 on 3 occasions was not pleasant. I am sick of the creditors charging interest and adding charges while we have done are best to pay what we could afford. I want to keep as much of our money for our family.
My wife would agree to dropping the DMP but I think after x-mas is a good idea.
Payplan have been telling me this information over the phone.

Many Thanks
Max

I think you have the wrong idea mate, bear with me and I will try and explain.

Going down the UE route is a game, think poker. You argue the validity of the documents and try and get to 6 years of no payments which results in the debt becoming Statute Barred. If however you find they get too heavy and issue a claim or make threats then we have a preferred solicitor here that can look to take your case on, they are very successful and have some major cases under their belts. They post here and give a lot of free advice so you're in very safe hands - you'll see that when you spend more time here and earn access to private sections which house legal issues and stuff. It's all pretty good (and safe from prying eyes).

So assuming the DCA does get heavy and threatens action it's at this point you either try and agree a settlement, usually we aim for 10-20% of balance owing but if they say no then we look at chances of defence and if necessary fight them. Worse case, you can agree to a monthly repayment plan at any time even if they get a CCJ - which is the worst case scenario, as you have no asset for them to obtain a charge over..... Basically you've nothing to lose by playing the UE game and due to the defaults being 5-6 years old already they'll soon drop off so any informal DMP and/or outstanding UE debts that may still be around when you want to buy a house shouldn't affect you as the record would have been removed!!

- seriously, read the forums before deciding and ask any questions you want answering, we're pretty good at this on AAD.

Hope the above helps explain things better for you but just remember, even when in dire straits you MUST remain always in control. See when a bank rings and makes threats, by using AAD you'll not put up with it and you WILL start fighting back, quoting case law etc at them - it's normal for users here - just blend in and see what happens, you'll find your way around in no time.

We won't leave you in the lurch - it's not what we do here, we help from start to end.

[Never-In-Doubt]

Re: New member needing advice please!!

How long is left with the DMP, out of interest? Was it a 15 year one? 10 Year? If you now go down the UE route it'll be 6 years till you're home and dry so if the DMP is longer than this you've definitely nothing to lose. However, we can help stop all calls and hassle - you just need to learn to ignore the phone and get tough - to fight back.

[Max]

Re: New member needing advice please!!

Thanks Never in Doubt,

I think I may have the wrong idea and will read up the relevant forum information from your site. At the moment we are paying £350 a month and have about £18,000 left. I am also torn between what I want to do which is pay back the least I can to have more money to have a chance to get back on the ladder and my wifes view of not getting any more CCJ's and going to court.
Thanks for your honest advice and maybe we will continue with payplan and consider change in the new year.
regards
Max.

[SXGuy]

Re: New member needing advice please!!

Can i just add, while you continue with the DMP, the creditor will continue to charge you interest. The only way to stop interest, is to stop paying them and make them sit up and take notice.

Its time you took charge, dont let them sucker you in to thinking they hold all the cards.

Id be very sad, if i found out that one of them cant enforce a credit card agreement and you had paid them off thousands over the years. Its time to take control again.

[Max]

Re: New member needing advice please!!

Thanks SXGuy,
My current plan with the great advice I have been given so is to get out of the DMP after x-mas.
I have read some of the UE diaries and the people who go this route have loads of courage to deal with threats over the phone and of creditors turning up at your home. I see that creditors nearly all offer large discounts to settle the debt at some point down the line.
I don't know if I can get my partner to agree to this route at the moment as she is frightened by this.
regards,
Max

[odetter]

Re: New member needing advice please!!

Have similar issues with pay gran.
They are sponsored by the financial industry and take a cut from each payment.
Hardly impartial is it?
Their "settlement team" are a joke!
A kid of 10 could negotiate a 30% discount.
Niddys right, this is a route we're going down.
The p**s taking ends here.

[Pixie]

Re: New member needing advice please!!

Thanks SXGuy,
My current plan with the great advice I have been given so is to get out of the DMP after x-mas. Great plan. Follow Niddy's advice and you won't go wrong
I have read some of the UE diaries and the people who go this route have loads of courage to deal with threats over the phone and of creditors turning up at your home. They make threats but it doesn't mean they go ahead with them. Log any calls you get...it can be used against them. Send the telephone harassment and doorstep templates...they usually stop. I see that creditors nearly all offer large discounts to settle the debt at some point down the line.When they start offering discounts you know it's unlikely that they're going to take court action against you. The discounts they offer are worded so that they look better than they are...they often make it sound like they're offering a 70% discount when in reality it's 30%.
I don't know if I can get my partner to agree to this route at the moment as she is frightened by this. I was frightened by it at first but it was the best thing I did. We have loads of members who were absolutely terrified by the threats being made to them/their situation. They found us and you can see the change in them in only a few days.Before long, you realise how good it is to take control and fight the banks/dcas.
regards,
Max

Why don't you get your partner to look at some of the UE diaries on here?

[odetter]

Re: New member needing advice please!!

Sadly there is no guarantee that after another 5years there aren't more charges shoved onto the end of your DMP.
Let's face it you've already paid a fair chunk of the debt off.
They must love you paying £350 pcm!!
Take control, and start the ball rolling!

[Pixie]

Re: New member needing advice please!!

Max - save the £350 a month towards your future mortgage. In 3 years, that's more than £12,000!