Night Monkey's diary

[Night Monkey]

Well, now seems as good a time as any.

I've informed StepChange that we're going self-managed and have canceled the direct debit. I've also set up a monthly standing order sending the £308 that we've been paying them into savings to give us a fighting fund.

So far of five accounts one (MBNA, ~£8500 currently with PRA) has been deemed enforceable, HSBC has ignored two CCA requests and two others have so far been unable to provide them.

We have so far paid ~£4500 through StepChange and ~£31000 remains.

I like being in control, it's been a while. Long may it continue.

[Night Monkey]

Sent a hand-signed copy, let's see if this cuts it.

[Night Monkey]

The letter of authority you attached from your wife is only a printed signature and we need a handwritten signature that matches the one we have on record.

They're starting to annoy me now.

[nightwatch]

I've just received an email from StepChange saying that they can't supply the requested information without my wife's authorisation as 'some debts are held in joint names'.

I duly provided that authority but it seems odd - are they just erring on the side of caution?

They also posed the question 'Is there some particular information you require so that we can target this for you'?

I ignored that bit.

They do need your wife's permission to send detail's that are in her name, DPA,
It gets quite funny at times as I deal with all our debt's so if we need to send a SAR for Hubbys account's, I send it and I sign it in his name, so much for security

[Night Monkey]

I've just joined AAD+ because I'm in a position to be able to, and frankly you guys deserve it.

Thanks for your help so far, and looking forward to moving on...

[Night Monkey]

I've just received an email from StepChange saying that they can't supply the requested information without my wife's authorisation as 'some debts are held in joint names'.

I duly provided that authority but it seems odd - are they just erring on the side of caution?

They also posed the question 'Is there some particular information you require so that we can target this for you'?

I ignored that bit.

[Night Monkey]

Use them to get it all set up then do it yourself. Use and abuse them.

This, more by luck than judgement, seems to be our current plan .

[Warwick65]

I think many people forget that these so called charities are funded by providers and purchasers. It is part of their due diligence in treating customers fairly which they have to prove to get a licence. So it’s not charity but a cost of doing business.

That said, for some people they be useful particularly if the level of debt is causing mental health problems. Use them to get it all set up then do it yourself. Use and abuse them.

[Night Monkey]

Sent GDPR request to StepChange, let's see what that brings.

I'm quite looking forward to that, actually.

[Night Monkey]

@NW - No questions at all at the moment thanks, I think we just need to bite the bullet.

And sending an SAR to StepChange is a brilliant idea, I'll do that this weekend.

@Di -

DMPs set up by charities are a way of outsourcing their debt collection activities in a seemingly respectable way.

is a sobering insight - thanks for that.


Onwards & upwards ...

[nightwatch]

if you decide to go self managed you normaly stop all payment's, but you would need to ask your DMC for an upto date staement of the account(s).
You will also need to send them a SAR, then you can find out who owns the debts and if they have been passed to any other companys that you haven't been informed of.
when you stop payment's you will be bombarded by phone calls, resist the urge to talk to them on the phone, every thing in writing,
some will contact you as soon as they know you have stopped dealing through a DMC,
others may take a while to notice.
during this time the money you would be paying out can be put to one side, this is a back up fund for any that get stroppy.

as has been said, some DMC's are not as impartial as they seem, some are given donations by the very company's you are in debt with, so it helps them to get a good payment from you.

most of the companys you owe to will eventually send a letter asking for you to make/ set up, a repayment plan,it will give you details of who owns the debt, what is owing, also it may contain the date they took over the debt,
they will send an I&E form, you do not need to fill this in, if you wish to pay them anything, you offer them xx amount stating that is all you can afford at that time.

Any that you have sent a CCA to that have not replied or are UE , can be filed away for now, but please up date your diary so we can keep on top of anything that may need advice.
any still with the original lender, will need nerves of steel at the outset, or they may sell it on ASAP when payment's stop, this is when you can sometimes get a good F&F from the purchaser, but may take awhile.

Any Questions??

NW x

[Joanna Connolly Solicitors]

If/when we do pull the plug, should we keep paying the (possibly) enforceable MBNA debt in the hope of negotiating a full & final settlement, or stop everything & deal with the fallout as it comes?

I'm not in a position to give debt advice, but I am aware that if you are paying a debt purchaser they are less likely to accept a F & F since they are happy to collect thousands and thousands of pounds effortlessly each month without the potential expense and risk of losing if they litigate.

DMPs set up by charities are a way of outsourcing their debt collection activities in a seemingly respectable way.

Di

[Night Monkey]

Cheers Di, that's a good spot.

If/when we do pull the plug, should we keep paying the (possibly) enforceable MBNA debt in the hope of negotiating a full & final settlement, or stop everything & deal with the fallout as it comes?

All comments welcome, I of course accept that any decision to stop the DMP payments is ours alone, along with any repercussions.

[Joanna Connolly Solicitors]

And now we have it. A package containing a covering letter and sections labeled:[*]Towards the end of this I can see a 'sold to PRA' entry dated 11.12.18, balance at sale £9785


So, what do I do now - am I looking for anything in particular?

You don't need to do anything now but I would be looking for 'inaccuracies' such as the PRA Notice of Assignment which states the debt was sold to them "with effect from" 20th December 2018, but the SAR entry suggests the debt was "sold to PRA" on or before 11th December 2018.

The devil is always in the detail.

Type of account - MBNA credit card
Date commenced - Approx 2012
Approx balance - £9325
Date last paid - Early 2018
Are you on arrangement or not paying - DMP with StepChange
Status - default
Account owner - PRA Group (UK) Ltd.

. . . .

3.1.19 Letter from MBNA stating that they have sold the debt to PRA Group (UK) Ltd.
3.1.19 Letter from PRA stating that they have purchased our debt with effect from 20.12.18

. . . .
6.2.20 Received letter confirming my SAR, promise to send it by 3rd march 2020
13.2.20 Received results of GDPR request, see page 3 post dated 15.2.20

Di

[Night Monkey]

Current state of play:

• Five debts currently totalling £31778
• Paying £308 per month via StepChange DMP
• One debt, MBNA currently with PRA, stands at £8700 and has been deemed enforceable
  • Paying £78pm towards this
• Four creditors either ignored CCA request or did not supply one

The compensation claim is moving as apace as these things tend to do and, I hope, nearing conclusion.

We now feel more in control of the situation and are about to pull the plug and 'self-manage' the DMP, probably as soon as a new job situation settles down. That will give us the £300pm as a backup if things go awry, and we'll see what comes.