FiscalFool's UE Diary

[LooLoo]

Re: FiscalFool's UE Diary - and General Journal!

Not sure what Niddy will advise you, but personally I would send out now with your old address on it - I got all my CCA's back within 10 days I think? Then you don't have to give anyone your new address?? - It's just a thought ??

Not sure about the car and what do to do about your DMP to be honest - but someone will advise soon

[fiscalfool]

Re: FiscalFool's UE Diary - and General Journal!

Ah there's a thought. I can then scan and send to Niddy and action upon having moved.

I'm a little concerned about:

1) I thought it was a legal requirement to give all lenders up to date contact info, address and one phone number.
2) I don't want the new property owners to get bombarded with collections calls if they take up the old telephone number.

[Pixie]

Re: FiscalFool's UE Diary - and General Journal!

Hi FiscalFool

Niddy replied in post #6 to NOT continue DMP payments while you are investigating UE.

I've never had car finance so I can't advise you with what to do there.

Personally, I'd send cca requests to all your creditors using your old address and get your mail redirected for at least 6 months, possibly 12. Any that are then found to be enforceable, as your Barclaycard Premier is likely to be, you can make payment arrangements later. Will you receive any money from the house sale? If so, you could perhaps use it to offer a full and final settlement for enforceable debts.

Also if you receive any money from the house sale, you could offer a larger deposit for renting. Have you been in touch with a local housing association? You might not gert a house/flat in an area you want but it would be cheaper and allow you to start again.

With reference to your questions above: I'm sure Niddy will answer them soon but my thoughts are
1) You certainly don't need to provide them with a telephone number.
2) Cancel the phone number before the sale or change it. The new owners might want to bring their own phone number with them if they are moving in the same area.

[LooLoo]

Re: FiscalFool's UE Diary - and General Journal!

Hey

As Pixie said you have to stop payments - i know it sounds daunting esp when you paying but if not it would seem like you are favouring one creditor. I am still paying Co-op only because I still have my current accont with them - but that is changing later on today - when I open my new account else where. i know it seems a bit complicated, but you really have to put your trust 100% with Niddy and go with what he advises. If you ask Nid and the Pixie what I was like when I first started 100s of questions probably asking about things that were already on the site, but everyone will be patient with you so don't worry. Also if I got a letter demanding payment I would go into a complete tail spin..... now I realise that things can and will wait, so I post on my thread and email what is necessary to Nid and then just wait until you hear from him.

I like Pixie am not sure of the legal stance about informing your creditors? again you dont need to give a phone number.

As for the new tennants...... well I am still bombarded at times with calls for my ex who has not lived in my house for over 3 years, I just say he does not live here end of. You have no idea if the new tennants will even take your number, and if they do when you take over any number it is the chance you take... i know it sounds a bit heartless but once you have moved it is not really your problem to be worried about - just make sure you have the redirection in place - if you are not sure where you are going are you allowed to receive post at work? maybe get it temporary re-directed there? just an idea?

[SLUG]

Re: FiscalFool's UE Diary - and General Journal!

Ok, before I send out the letters ... I'm moving in less than 3 weeks time ... yet still have nowhere to go to yet ... so that is a bit of a concern! So I plan to send the letters out when I've moved, to save them getting lost in the post redirection etc.

Anyway, until I can prove that they are UE, I'd rather keep paying my £50 a month to PayPlan just to make a token gesture. Then if they are enforceable, I shall keep paying ... if not, then I need to follow through the UE process.

My quandary at present now is my Car Finance. It's a Personal Finance arranged with the car, but is not secured upon the car. Therefore should I pressurise PayPlan to include this Personal Finance in the agreement, and ideally free up some disposable income each month while moving!?
(I realise that Payplan would expect that if I freed up £300 in my budget, then I should contribute that to them each month for distribution ... but I can avoid that for a month or so).

Thinking over the weekend, IF I manage to get UE for one or two of the £10+k debts, then I will stick with a DMP and try to increase my payments. If I don't manage to get UE, then I will have to investigate IVA or BR options.

The best advice I can give you is if Niddy says do it, you do it. A lot of people say "oh I thought I'd just do it this way, or send this letter instead" and it always ends up being the wrong move...

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

Ok, before I send out the letters ... I'm moving in less than 3 weeks time ... yet still have nowhere to go to yet ... so that is a bit of a concern!

Have you ermmm, considered the unthinkable?

Just move, and don't say you're going - shit, did I just say that in public?

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

Anyway, until I can prove that they are UE, I'd rather keep paying my £50 a month to PayPlan just to make a token gesture. Then if they are enforceable, I shall keep paying ... if not, then I need to follow through the UE process.

Why? A token gesture means nothing, unless you can pay the contractual monthly amount then you may as well not pay anything! You're throwing good money away by doing this, you should be saving what you spend on the DMP then at the end of this UE chase, you would then sit down and work out all the enforceable debts and arrange a brand new DMP for those with CCCS or the like...

My quandary at present now is my Car Finance. It's a Personal Finance arranged with the car, but is not secured upon the car.

So its an unsecured loan then, with Santander by any chance? If not, who is it with?

Therefore should I pressurise PayPlan to include this Personal Finance in the agreement, and ideally free up some disposable income each month while moving!?

??? Confused here - sorry.

(I realise that Payplan would expect that if I freed up £300 in my budget, then I should contribute that to them each month for distribution ... but I can avoid that for a month or so).

If you're on a DMP then EVERYTHING should be included, why have you omitted the car finance?

Thinking over the weekend, IF I manage to get UE for one or two of the £10+k debts, then I will stick with a DMP and try to increase my payments. If I don't manage to get UE, then I will have to investigate IVA or BR options.

Why, if nothing is secured then just move - no? You set up a mail divert to the new address so you can see what people are sending, other than that you just ignore things and see what happens - they cannot get blood from a stone can they now?

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

I'm a little concerned about:

1) I thought it was a legal requirement to give all lenders up to date contact info, address and one phone number.

This is civil, not criminal law so there is no "legal requirement" whatsoever!

2) I don't want the new property owners to get bombarded with collections calls if they take up the old telephone number.

eh? Are you for real with this statement? All you do is cancel the phone line before you go and the new people would get a new number!! Even if not, so what - they will say "not known here" and then the lender will have to bugger off, simples.

Obviously if you've sold the house then you need to ensure you DO NOT tell the new owners your forwarding address or number - just move out - you don't owe them anything remember! Part of life is getting old mail for old residents when you buy a second hand house

[Pixie]

Re: FiscalFool's UE Diary - and General Journal!

Have you ermmm, considered the unthinkable?

Just move, and don't say you're going - shit, did I just say that in public?

I thought about saying this but wasn't sure if I should

[fiscalfool]

Re: FiscalFool's UE Diary - and General Journal!

Oh crikey lots of replies!

You'll all have to bear with me I'm afraid ... If I'm told to do something I like to understand "why" first, before blindly following.

What I was trying to understand is:
"Do you stop paying because it's just wasted money to continue paying. Or is there a specific reason why you should not be paying?"

Since my DMP is controlled and managed by PayPlan at present ... I feel it would be easier to continue paying up until I know where I stand with regards to UE.

Otherwise, take my Barclaycard Premier for instance, I totally agree that it is VERY unlikely to be UE. Therefore, I'd be cancelling my payments via PayPlan ... then finding out it is enforceable ... then telling PayPlan to start paying them again.

Each time I have to change creditor information or available surplus via PayPlan, they want to do a new SOE and send out offers to the creditors.

SO ... IF I really MUST stop my payments before commencing the UE journey, then I will. If it's just advisable because it's money down the drain ... then at present I'd like to continue payment up until we KNOW that it is definitely UE.

Does that make sense?


Oh Sunny, I work at home ... so can't redirect there :S

[fiscalfool]

Re: FiscalFool's UE Diary - and General Journal!

Have you ermmm, considered the unthinkable?

Just move, and don't say you're going - shit, did I just say that in public?

Ooops didn't read up enough .. hadn't spotted that you had replied !! Ooops!


Unthinkable ... as in "Homeless" ... yes have considered it.

Currently the house is mortgaged with my ex, completes in 3 weeks.

If I can't find anywhere to take me and the dog .. I have two options ... hand the dog back to dog's trust ... which I really dont want to do. Live with my parents for a month, which would be worse than handing the dog back! Or apply for a council property, but would probably be turned down despite the homeless risk.

Then if I do get accepted on somewhere I'm concerned that I'd get through credit check for a rental, as the house sale will not yield more than the 1st month rent in advance and the deposit. I really don't want to ask parents to be guarantors ... at all.

So ... if I do "just move" ... then won't my credit rating be further screwed, by not informing the creditors. I notice on my credit report "GAIN - Gone Away Information Network".

Or did you have another master plan "Unthinkable" ???

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

You'll all have to bear with me I'm afraid ... If I'm told to do something I like to understand "why" first, before blindly following.

then unfortunately you'll not get replies as frequently as you'd like..... If you "read" other threads then you'll KNOW exactly why we ask you to do what it is we do.....

What I was trying to understand is:
"Do you stop paying because it's just wasted money to continue paying. Or is there a specific reason why you should not be paying?"

Its wasted money and not illegal to be in debt, what can they do - if you do not have - then you cannot pay, right?

Since my DMP is controlled and managed by PayPlan at present ... I feel it would be easier to continue paying up until I know where I stand with regards to UE.

Easier, why? Please elaborate why you feel this way...?

Otherwise, take my Barclaycard Premier for instance, I totally agree that it is VERY unlikely to be UE. Therefore, I'd be cancelling my payments via PayPlan ... then finding out it is enforceable ... then telling PayPlan to start paying them again.

- Who said that's what you'd be doing? I never and i've never seen anything on this site that suggests this, being I answer every post on UE i'd know if i'd seen or suggested this to anyone....

Each time I have to change creditor information or available surplus via PayPlan, they want to do a new SOE and send out offers to the creditors.

Which is why to commence with UE route you MUST cancel the DMP (I am going round in circles already see...?)

SO ... IF I really MUST stop my payments before commencing the UE journey, then I will. If it's just advisable because it's money down the drain ... then at present I'd like to continue payment up until we KNOW that it is definitely UE.

So you have money to waste then, I presume? What is the loyalty to Payplan - they are second best to CCCS and to be quite frank, you can set up as many DMP's as you like - however what you cannot do is go to payplan and say "this account is now UE so please stop paying them" - they cannot do this, they must apportion a percentage of cash to each debt.

I reiterate, come out the DMP first if you wish to carry on with UE.

Does that make sense?

Your questions do, your logic and reasoning do not.

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

I need to move on to other threads, if you have any other questions please read back and read other diaries, all the info you want to know is here already.....

Regards your last post, I mean unthinkable as in yea, do a bloody runner and don't tell them your new address - forget GAIN, and forget credit - you MUST learn from this. Regardless, you'll get a default and the entry will be gone in 6yrs whether you pay or not. Stay on a dmp for the next 10 years and you'll have late payment markers for the 10 years plus 6 years extra, after the account has closed meaning for the same debt you will have 16 years of data as opposed to 6years.....

Does that make sense....

[fiscalfool]

Re: FiscalFool's UE Diary - and General Journal!

Why? A token gesture means nothing, unless you can pay the contractual monthly amount then you may as well not pay anything! You're throwing good money away by doing this, you should be saving what you spend on the DMP then at the end of this UE chase, you would then sit down and work out all the enforceable debts and arrange a brand new DMP for those with CCCS or the like...

So its an unsecured loan then, with Santander by any chance? If not, who is it with?

??? Confused here - sorry.

If you're on a DMP then EVERYTHING should be included, why have you omitted the car finance?

Why, if nothing is secured then just move - no? You set up a mail divert to the new address so you can see what people are sending, other than that you just ignore things and see what happens - they cannot get blood from a stone can they now?

Just purely for the sake of hassle, with regards to making token payments in the interim ... see my other post about changes to DMP with PayPlan. My combined PayPlan payment at the moment is only £50, while saving for house deposit etc. Lenders are all happy with that, so marking me down as making a payment, rather than missing a payment. Thinking of credit score at moment.


Yes car was via unsecured Personal Loan with Santander. I used to have straight HP and then VT the car half way through. Balls'ed it up with this one by taking Personal Finance.

I have a car which costs a fortune to run each month. It's on a Personal Loan, arranged with the car purchase. I've sought prices to sell the car and it is less than half of the redemption figure for the loan! aaargh.

I contacted PayPlan and asked them to put the car into the plan. They said "Please be advised that if the Car was not purchased under a Hire Purchase, and if it’s indeed a personal loan, in order for this to be included on your Debt management plan, you will have to surrender/sell the car, if you still have the car whilst making reduced payments, the company can take the good away from you.". I advised them that the car finance company advised that they had no legal hold on the car, and it was a personal loan, and PayPlan still refused.

I then said "Ok well in which case I think an IVA is best".

To which PayPlan said "Now, regarding the IVA, the 5 year plan, the minimum surplus to be eligible for an IVA is £100.00* monthly , and the car will not be included on the IVA, again, if you do not make payments towards this, the car can be taken away from you. When the payments of Hire Purchase are higher than what the surplus is , the creditors are usually prompt to reject the IVA on the grounds that you are paying more for the car than for the IVA."

*Note: As an interim measure, I've decreased my payments to PayPlan to save some cash for the house move/deposit etc.

If I'm on a DMP, yes everything should be included. PayPlan were adamant that all car finance was HP!!! Then they said if it were job-need, then I should keep it out of the DMP as I needed it for my job.

To be quite honest, I'd be better off if it was repo'd. I get work to supply a car, and it would be insured, tyres, tax, servicing and MOT. Yes, I'd get hit on tax, but would save a fortune, as well as getting a nice efficient diesel!

Is one suggesting I just simply disappear?! :P

[Never-In-Doubt]

Re: FiscalFool's UE Diary - and General Journal!

Just purely for the sake of hassle, with regards to making token payments in the interim ... see my other post about changes to DMP with PayPlan. My combined PayPlan payment at the moment is only £50, while saving for house deposit etc. Lenders are all happy with that, so marking me down as making a payment, rather than missing a payment. Thinking of credit score at moment.

Its £50 that you do not have though, right?

Yes car was via unsecured Personal Loan with Santander. I used to have straight HP and then VT the car half way through. Balls'ed it up with this one by taking Personal Finance.

I thought as much, so they have no control over the car in which case you classify this as a personal loan and NOT car finance!

If I'm on a DMP, yes everything should be included. PayPlan were adamant that all car finance was HP!!! Then they said if it were job-need, then I should keep it out of the DMP as I needed it for my job.

Hmmm, did I already say that PayPlan are shyte? If not, you can gather my next response......

To be quite honest, I'd be better off if it was repo'd. I get work to supply a car, and it would be insured, tyres, tax, servicing and MOT. Yes, I'd get hit on tax, but would save a fortune, as well as getting a nice efficient diesel!

Why? It cannot get repo'd cos you OWN it - let me ask, who has possession of the V5? You? If so then you own that car 100% and can do what you want with it. Its YOURS!

Is one suggesting I just simply disappear?! :P

Seems the easiest option all round, being you're selling up etc anyway!