Thankyou Diana

[Delta1]

I have been so jittery about trying to sort this mess out and very time I’ve had problems logging in/posting have put it off again.

i was in a DMP with a debt management company (pre 2002) before it passed over to a new one last year. My has son offered me upto £3,000 if this will clear my debts due to my stress (and age)

i did ask the new company if they could try for a full and final settlement for me but they wanted 20% of my remaining balances. I cannot afford to do this and feel I must try to sort this out on my own. I do not to go bankrupt or have any CCJ’s against me. Outstanding is approximately £13,760 with 7 creditors. M & S being the biggest at £5,500. Not totally sure how this works but do I list the creditors and amounts?

[Delta1]

I have the following which are paid monthly through a DMP.

Barclaycard collections £1890.00.
Link Financial 2,229.00
Wescot £51.00
Capital One £1051.00
Barclaycard Collections £920.00
Moorcroft £2094.00
M&S £5500

Unfortunately I don’t have the original paperwork for these as we had a flood and most of it was destroyed years ago. I do have a list of the original creditors. They are 2 x B.card, capital One, HFC Bank (Wescot), MBNA (Link) Morgan Stanley (Cabot)

Do you think they would agree to a percentage in full and final settlement ? Sorry I’m not very good at this and have been worrying about writing to ask them with not knowing exactly what to offer.

[Delta1]

Sorry about putting the thankyou Diana at the top. I just wanted to say thankyou for explaining how to put the post on which I have really struggled with. I couldn’t figure that out.

[Joanna Connolly Solicitors]

i was in a DMP with a debt management company (pre 2002) before it passed over to a new one last year. My has son offered me upto £3,000 if this will clear my debts due to my stress (and age)

i did ask the new company if they could try for a full and final settlement for me but they wanted 20% of my remaining balances. I cannot afford to do this and feel I must try to sort this out on my own. I do not to go bankrupt or have any CCJ’s against me. Outstanding is approximately £13,760 with 7 creditors. M & S being the biggest at £5,500. Not totally sure how this works but do I list the creditors and amounts?

We have so much in common - although my daughter has never offered to sort my debts in the past, probably because I didn't dare admit to her that I had any. I wanted her to think I was perfect.

She (my annoying daughter) refers to 'baby steps'.

I think she has a point.

So make a separate post for each debt on this thread, and let the forum hold your hand through the process.

Take Care

Di

[Delta1]

Help on settling these would be appreciated. I have been thinking about writing to make or ask for a f/f settlement figure as a very close friend suggested I do this. I think all are pre 2000 (M&S May be about 2000) but cannot remember. I have a few health issues and could do without the stress of these so want to settle.

Account - Barclaycard (Barclaycard Collections)
Opened -Pre 2002 (maybe pre 2000)
Balance - £1890.00
Date of last full payment - Pre 2002
Monthly Payment through DMC (DMP) £4.23

[Delta1]

Account - MBNA (Link Financial)
Opened - pre 2002
DMP - started pre 2002
Balance - £2,229.00
Date of last full payment - pre 2002
Monthly payment through DMC (DMP) £4.99

[Delta1]

Account - Barclayloans (Wescot)
Opened - pre 2002
DMP - started pre 2002
Balance - £51.50
Date of last full payment - pre 2002
Monthly payment through DMC (DMP) £0.13

[Delta1]

Account - Capital One
Opened - pre 2002
DMP - started pre 2002
Balance - £1,051.47
Date of last full payment - pre 2002
Monthly payment through DMC (DMP) £2.35

[Delta1]

Account - Barclaycard (Barclaycard Collections)
Opened - pre 2002
DMP - started pre 2002
Balance - £920.30
Date of last full payment - pre 2002
Monthly payment through DMC (DMP) £2.06

[Delta1]

Account - HFC ?? (I think this HFC sold to Cabot and then to Moorcroft in 2018)
Opened - pre 2002
DMP - started pre 2002
Balance - £2,094.16
Date of last full payment - pre 2002
Monthly payment through DMC (DMP) £4.69

i am unsure on this one as I have been back through to 2010 and HFC was under Wescot but I only have one payment going to Wescot as above.
i have no idea where Moorcroft came from so can only assume Wescot passed this over. I received letters from Moorcroft in 2018 with my name spelled incorrectly and a different first name so never responded. They then stopped but never had any notification from DMC that it had changed.

[Delta1]

Account - M&S Credit Card
Opened - pre 2002
DMP - Added by DMC in 2013
Balance - £5,500.24
Date of last full payment - 2012/2013
Monthly payment through DMC (DMP) £12.32

[Delta1]

That is the last one. Although paperwork is not available as destroyed due to damage, I will keep checking to see if anything is in any old boxes in storage. If you can please advise me what to do as regards settling with them.
Thankyou

[Timewilltell]

Delta, can I just say this, do you not think you’ve been paying these for long enough? It’s time to take the stress and worry away from yourself and focus it on those that hold the debts. We have all been in your shoes, my debts stand at least 6 times the value of yours, but through the help and support of this and other sites I have learned how the game works, I no longer fear these debts, I sleep peacefully in the knowledge that the responsibility is no longer on my shoulders but that of those who are handling the debts ie the owners of debts, you are not the owner of this debt. Gain your strength from reading many of the other diaries on this site and reflect on how yours are no different, then adopt the help that has been given and apply it to your position, ask as many questions as you need to feel safe and the support will be forthcoming.
your health is far more important than a figure on a piece of paper.

[cymruambyth]

Hi Delta 1 and welcome to AAD. Listing your debts is the first step to taking control and getting everything sorted.

I started on a self managed DMP about the same time as you, but in 2008 I read around and started to question the documents help by the companies. In 2020 AAD was launched and I have followed the ‘AAD system’ and everything has now been dealt with.

You need to start by sending a Consumer Credit Agreement (CCA) request for each account. There is a template at the top of this section, I’m on my phone and can’t post a link! You need to send £1 postal order or cheque with each request and preferably send recorded delivery so you can check when it is received. If they fail to send an agreement in 12 days the account is not legally enforceable. Any replies that you receive post on here for further guidance.

Most if us have reached a low point before coming here and you will find support and guidance with every step that you take. Never speak to any of the companies on the phone and always post any questions here, someone will always be available to help.

Good luck

[Joanna Connolly Solicitors]

i was in a DMP with a debt management company (pre 2002) before it passed over to a new one last year. . . .

i did ask the new company if they could try for a full and final settlement for me but they wanted 20% of my remaining balances. I cannot afford to do this and feel I must try to sort this out on my own. I do not to go bankrupt or have any CCJ’s against me. Outstanding is approximately £13,760 with 7 creditors.

Do you mean your DMP business wants you to pay them 20% of the outstanding debt as commission/fee for negotiating settlements? That's shocking if it's true!

Have you been paying them a monthly fee for 'managing' your regular payments? Did you sign anything when you were "passed over" to them by the old DMP business?

My approach would be for you to establish your legal position with your debts first, which may give you the upper hand in any negotiations to settle afterwards if that is what you want to do.

However if you find a debt is unenforceable you may not wish to pay them anything at all.

If you've been in a DMP since before 2002 then you're right to want to escape from this ball and chain around your ankle.

I'll take a peek at all your debts one at a time and ask you a few questions before making my suggestions which may vary since no two debts are the same.

Now is the time for you to take control of the situation instead of the situation controlling you.

Di