General idea about where to take things (DMP)

[linnite]

Hi,

Sorry about what will probably be a long post.

We have a DMP (Step Change) that started just under 6 years ago and we have got down from £54,000 to £30,000

We have been very good payers on it and have kept everyone happy.

As you might guess the defaults are going to come off the file across a spell over the next 6 months or so (except for one registered late that I have just started to challenge via Noddle).

It looks a good time to re-assess where we are going, do we stay with Step Change, do I start looking at UE etc etc.

If I list the debts perhaps people can tell me what they think should be my strategy. I'm open about all the options right now, including just carrying on paying the DMP.

1. HSBC consolidation loan £11000 defaulted Jan 09 paid down via DMP to £5200. Moorcroft administer this but I don't think it has been sold to them???

2. Egg card £8000 sold/transfered to Barclaycard. Step Change say I am down to £4900 and this is not on my wife's credit file so I think the 6 years must have gone?

3. HSBC large c.card £8000 sold to Idem, defaulted Dec 08 paid down via DMP to £4800

4. Halifax CC, £6500 originally now £3200 paid down via DMP, default date Dec 08, Blair Oliver and Scott administer, again don't think this has been sold?

5. Mint (RBS), £3500, for a while they carried on charging interest whilst under the DMP and did not default till Jan 10, I am challenging the default date, still owe £2945. Live a little dangerously with this as we bank with Nat West part of RBS but got advice they can't raid Natwest accounts for RBS debt.

6. Barclaycard, £4500, they have never defaulted this and it shows on Noddle as an up to date arrangement to pay, they are charging interest too albeit lower rate and we still owe £2900 paid down via DMP.

7. Tesco credit card was £3000 still owned by RBS I think and paid down via DMP to £1700 this has gone off my credit file or was never there.

8. HSBC credit card, was £3000 now with Hoist Portfolio (sold I think) and default date was Aug 08. Paid down via DMP to £1650.

9. HSBC 'online card' actually HFC bank originally £2200 and defaulted Aug 08, paid down via DMP to £1350.

10. HSBC current account £2000 overdraft defaulted Jan 09 and adminsitered by Moorcroft and again not sold. Paid down via DMP to £1200.

11. HSBC current account £1000 overdraft this has been sold to Idem and is down to £400 via the DMP. Defaulted Mar 09.

12. Finally a Next Directory with 'Debt Managers' defaulted Aug 09 and paid down via DMP from £900 to £100 so I could pay this off if it would do any good.

**** We also have a couple of recent defaults, not part of the DMP, smaller amounts, I don't expect to get rid of these but could pay them off if it would help to have satisfied defaults. Unfortunately a year or so ago there seemed no big deal about ending up with more defaults ****

Many thanks for any thoughts, approaches etc.

-linnite

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Hi & welcome

id take a read of our UE Diaries and consider sending a cca request. At least it gives you a better position of understanding. Had you defaulted 6 years ago your credit record would be clean now. With a DMP they leave trailing [AP] markers.

Ill be back tomorrow and have a proper read.

for now look around and consider UE

--> http://forums.all-about-debt.co.uk/f...bility-Diaries

[linnite]

Re: General idea about where to take things (DMP)

Hi & welcome

id take a read of our UE Diaries and consider sending a cca request. At least it gives you a better position of understanding. Had you defaulted 6 years ago your credit record would be clean now. With a DMP they leave trailing [AP] markers.

Ill be back tomorrow and have a proper read.

for now look around and consider UE

--> http://forums.all-about-debt.co.uk/f...bility-Diaries

Thanks for the quick look - the majority are defaulted though.

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Great. No duplicates / DMP entries? If so then why bother paying?

Are you a homeowner?

[linnite]

Re: General idea about where to take things (DMP)

Great. No duplicates / DMP entries? If so then why bother paying?

Are you a homeowner?

Yes - in about zero or negative equity.

I have no idea why nothing on Noddle refers to the DMP, they all say default I guess, but even the Barclaycard one that is not defaulted says AP not DMP.

It could be that Equifax and Experian's entries might say DMP?

The only reason to pay is if I thought they would try for a CCJ and/or charges against our home.

Cheers!

[linnite]

Re: General idea about where to take things (DMP)

It could be that Equifax and Experian's entries might say DMP?
Cheers!

Got my equifax report and there is nothing there about DMP either. Have also sent for my £2 experian report.

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Well that's good that your credit file will be clean but as you say in your opening post; you've still got a lot of debt.

As you are paying on time through a DMP you'll find your creditors won't even negotiate a F&F (why would they when you're paying it back?) so maybe UE might be worth exploring.

We don't sit back and watch them obtain judgments. We help you --> https://www.legalese.org.uk (same group as AAD & this forum)

[linnite]

Re: General idea about where to take things (DMP)

Many thanks again, I will do the CCA's and then let you all know what I get back.

Where the debt is being 'administered', or whatever the correct term is, by a DCA, does the CCA request go to the DCA or the original creditor (wow all these initialisms!).

I'm guessing the original creditor? In which case I have to be sure these debts have not been sold to the DCA? I know certain ones have, and assume all the others haven't.

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Send to the original creditor but if the dca gets arsey just copy them in but don't pay them the £1. If it's been assigned the request goes to the assignee so that might be a dca.

Before sending for cca's can you please do a proper diary so we can gauge success chances before you waste time sending cca requests.

Read the diaries and see my sticky on the subject

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Linky (post 2) --> http://forums.all-about-debt.co.uk/s...-Read-me-First!

[linnite]

Re: General idea about where to take things (DMP)

Sorry to keep this thread alive, I know the next thing really is doing a diary thread and getting the CCA letters out.

I did some reading on the site as suggested, and some things I read, which I may have misunderstood, have worried me.

So my last question before getting on with it is: Do any DCA's/OC's respond to a CCA request with immediate escalation, pushing it into the court arena etc? Just for a CCA request?

I'll be honest, after 6 years of calm water with the DMP, this could be scary. I need the wife on board and this could scare her witless.

That said nearly all these agreements, if not all, are pre- Apr 2007. The consolidation loan was post April 2007, we defaulted almost immediately so I am thinking of just steering clear of that entirely (i.e paying it)??????

Also what's the history been like on overdrafts? Have they tended to be enforceable?

Many thanks again - brilliant site.

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Basically no. They cannot issue a claim once a cca request has been issued which is why we always say send one to avoid a claim - they can I suppose issue a claim but it's rare cos they want to win. Not get battered by jumping in with 2 feet. We'd batter them if they did that (and have in the past) so don't worry about that. Our legalese is pretty damned hot at AAD.

(We also have Andrew Watson)

Regards overdrafts there's a section in Unenforceability specific to overdrafts and they use different cca's as you'll see in the templates section of AAD (you need to register to see templates).

--> http://forums.all-about-debt.co.uk/s...CA-Information

Read diaries to see likely outcomes. Pixie / MrsD / Alland are all several years in now.....

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

ps - as for the mrs, you convince her by explaining the real reasoning. I'll elaborate;

To BEST utilise the UE route you'd cease payments to all the creditors in your DMP immediately and then send off for a s.77/78/79 Request (CCA). A DMP cannot allow cherry-picking of accounts which means you cannot ask for one (or ten for that matter) accounts to be excluded. They'd refuse and you'd have to cancel it anyway.

Now, some accounts will be unenforceable and others won't be but here's the thing; you actually save the same amounts as you were in the DMP in a savings account and if a creditor gets arsey or we hit an enforceable account then use some of those funds to make a settlement. They'll accept as they'd currently be getting £0 so assuming your OD was £2k if you made an offer to settle as things stand you'd be lucky to save £500. If you do the above, the longer no payments are being made, the better the offer could go - we've had 10% offers accepted and we've had 50% offers accepted.

Its your call but I hope the above helps explain the rationale behind what we do. Cover your ass. That's the safest advice

[linnite]

Re: General idea about where to take things (DMP)

Thanks again. Would you say though that anyone embarking on this had better be prepared to pay out at least some bits of legal fees? If a particular debt came back as enforeceable I would want to leave it at that and resume the paying we are doing now - we have no money for any F&F's. All I want to do really is explore each one with the creditors in a friendly manner, and if unenforceable....well then we would tell them where to go.

EDIT: Our last two posts 'crossed' but I think this still makes sense to ask?

[Never-In-Doubt]

Re: General idea about where to take things (DMP)

Posts crossed. See my last post.

You WILL have savings; the DMP cash.

Legal "help" is available. We aren't solicitors (practice) and chose not to be (nor are we regulated to be) however Andrew is a Solicitor albeit non practising (through choice for AAD / Legalese)

Legalese explains it mate -> https://www.legalese.org.uk

there are no guarantees in this game. You literally deal with each situation as and when it arises with our help.

Its breaking your repayment mindset that's the biggest hurdle.