Been With Eurodebt DMP for over 11 years [now discover most of my debts are...)

[Rayn2036]

I have been with DMA (Eurodebt) for over 11 years now.

Their fee has risen about 4 times.

Money I pay to creditors is less than their fees.

 

I recently checked my credit report and I am clean as all debt are over 10 years old.

 

My outstanding debt is almost 40K with about 10 creditors.

I am now thinking of ditching eurodebt and deal with the DCA myself.

 

I am thinking of taking a 5k loan so I can pay off my debt on pro-rata basis.

 

I was wondering if DCA will accept 10% of the debt as full and final settlement?

 

Since debts are now over 10 years old,

can DCA take me to court or send a bailiffs if I stop paying completely?

 

Appreciate your help.

[BRIGADIER2JCS]

Not a good idea to borrow again to pay existing debts, your credit files is clean? Any credit accounts running with at least 3 years excellent credit management?

[dx100uk]

no dca's cannot and are notbailiffs.

 

where did you get that from

 

you've prob paid your debt 5 times over by now

 

dump eurodebt

 

you are prob being cash cowed on numerous of those debts anyhow

 

list them please

 

dx

[Rayn2036]

Not a good idea to borrow again to pay existing debts, your credit files is clean? Any credit accounts running with at least 3 years excellent credit management?

My credit file is clean and I do not have any credit account. Recently applied for MBNA 5.9% money transfer for life credit card and its approved. So thinking of transferring the money from credit card to pay the DCAs

[dx100uk]

NO!!

 

check every dca has the correct paperwork FIRST!!

 

please list your debts

 

dx

[fkofilee]

My credit file is clean and I do not have any credit account. Recently applied for MBNA 5.9% money transfer for life credit card and its approved. So thinking of transferring the money from credit card to pay the DCAs

 

 

Seriously... DX is right... dump them... and you may not even have to pay anything else to anyone... its time to challenge the companies...

If the debts dont appear on your credit report then its time to challenge them

 

If you use debt to pay other debts off then im going to come and kill you ^__^

[Rayn2036]

How do I check if they have the correct paperwork? I will post a picture of latest statement showing all debtors once I reach 10 posts.

[dx100uk]

you don't need 10 posts

 

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all monetary figures and dates.

*********************************************************

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

try www.pdfescape.com TO BLANK STUFF,

*************************************************************

or

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or use www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

 

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though dont use full bank names or CAG in the title

i'e Default notice dd-mm-yyyy TSB

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

[Rayn2036]

Seriously... DX is right... dump them... and you may not even have to pay anything else to anyone... its time to challenge the companies...

If the debts dont appear on your credit report then its time to challenge them

 

If you use debt to pay other debts off then im going to come and kill you ^__^

Sorry to be clueless but what is DX? None of the debt appears on the credit file, how is it possible to get away not paying anything?

[renegadeimp]

Hi rayn. In my honest opinion i would drop your fee paying DMP. This is because they are only in it to make money for themselves. Very rarely do they negotiate with your creditors to get you the best deal. Try stepchange or payplan. They are free and very good.

 

Regarding the paperwork, DX100uk is correct. You really need to stop your payments to this DMP and start questioning all the accounts/debts. Some of your debts will most likely be unenforceable in court, or be filled with charges/PPI which you can reclaim. Your DMP will not tell you this.

 

If you have any questions, dont hesitate to ask. If you remain calm, and ask any question you need to, we can work through this with you in order to sort out your debts and get your finances back on track. Remember, we are not here to judge you. We want what you want. To get you out of debt and back on your feet.

 

 

The main issue i have and which is why i came along and posted is this:

 

Money I pay to creditors is less than their fees.

 

With a GOOD DMP, that should NEVER happen. Ever.

[Rayn2036]

I have attached a file, hope its working.

[ims21]

You need to follow the instructions and PDF it

[renegadeimp]

Ok, looking at that image, you REALLY and without question need to get rid of that DMP. You are dealing with some of the worst DCA's there are, and they are very well known for cash cowing unsuspecting people.

[Rayn2036]

You need to follow the instructions and PDF it

Will do that tomorrow, thanks.

[Rayn2036]

Ok, looking at that image, you REALLY and without question need to get rid of that DMP. You are dealing with some of the worst DCA's there are, and they are very well known for cash cowing unsuspecting people.

Will get on it straight away. Will be on the phone to them first thing tomorrow.

[dx100uk]

writing ONLY/

 

cancel the DD that's for sure.

 

dx

[renegadeimp]

Have a word with stepchange too. THey are normally VERY good, and if theres anything suspicious with a debt, they withold the payment until its sorted, then if the problem gets rectified, they use it as a lump sum towards the debt.

 

If your current DMP tries to charge a cancellation fee ( sadly some do try), then have a good laugh at them and ignore.

[Rayn2036]

writing ONLY/

 

dx

 

I was thinking of calling the DMP to cancel the payment plan. should I not call them instead write to them.

[dx100uk]

pers i'd keep things formal with a paper trail.

 

dx

[Rayn2036]

pers i'd keep things formal with a paper trail.

 

dx

What reason should I give them? any template or suggestion on wording?

[dx100uk]

you just wish to now cancel as other plans are being put in place

 

dx

[Rayn2036]

Please find attached latest monthly statement.

 

I would appreciate further feedback and suggestion on how I can deal with this matter.

 

I would also appreciate if someone can shed some light on CCA and SARS.

Edited August 8, 2013 by Rayn2036

[dx100uk]

cca is consumer credit agreement

everyone demanding money from you should hold the correct CCA

for the account they demand money for

[unless its a bank account[

 

sar is the get EVERYTHING a 'group' say LLoyds

hold on your, all statement on all accounts

 

dx

[Rayn2036]

cca is consumer credit agreement

everyone demanding money from you should hold the correct CCA

for the account they demand money for

[unless its a bank account[

 

sar is the get EVERYTHING a 'group' say LLoyds

hold on your, all statement on all accounts

 

dx

Many thanks. Looking at my statement, what is the best course of action? What is the reputation of the DCA i am dealing with? few CCA going tomorrow and I am waiting for DCA ref number from my DMA on few.

[dx100uk]

they are basically all the same

 

some litigate more than others though your names are mainly fleecers

that spoof people into paying debts they don't typically owe

 

simply by sending a few good sounding threat-o-grams.

 

dx