Struggling with debt? Ask a debt adviser a question

StepChange_Allen · 31 March 2017 at 8:17AM

EBarton wrote: »

Hi,
Thanks for your reply.
Can a CCJ be raised if a default on the debt is spent?
I'd there a time period on debt when a CCJ can no longer be raised?
Thank you

Hi there

Thanks for getting back in touch.

Yes, a CCJ can still be obtained after a default has disappeared from your credit file. The only time where a defaulted debt can't be enforced by a CCJ is if the debt is known to be statute barred. This is where the debt hasn't been paid or acknowledged in writing for a six-year period at any time. There's more information on this on our website if it could apply to you.

As my colleague Richard said, you're welcome to register with us if you need any personalised debt advice.

Best wishes.

Allen

StepChange_Allen · 31 March 2017 at 8:30AM

Chris01989 wrote: »

Hi
I am in around 14000 in debt I'm 23 and have a credit score of 349 out off 7000
I have been looking at balance transfer credit cards but I have been declined for like 10 in a row now I'm starting to think that I'm not going to be able to do anything about it.
Please help

Hi Chris

Thank you for your message and welcome to the forum.

There's always something that can be done to sort debts out and we'll definitely be able to help you work out the best way for you. If you've applied for 10 cards and been declined, it does seem unlikely that you're going to get one, at least one with a decent interest rate. In addition, each time you apply it shows on your credit file which in turn will affect your chances further.

In order to be able to give you accurate advice we'd need to know your financial situation in detail, so if you'd like us to help, you can find details of how to get started on our website.

I hope this helps as a start and we hope to hear from you soon.

Allen

StepChange_Allen · 31 March 2017 at 8:45AM

RY52ARD wrote: »

Hi there,

Today I received an SMS from Hellix Ltd staying that they have been instructed as FCA Authorised Debt Collector to collect an insurance debt with a company I've never been with.
They are requesting I call or email them with my payment request....is this some sort of scam?

Regards

Hello

Thanks for your message and welcome to the forum.

I can't be sure on this to be honest. I'd never heard of Hellix Ltd before but having searched online, their website doesn't look suspicious and it gives a full address and phone number on there.

There's at least two possible explanations as to you not being aware of a debt to the company they're collecting for. One could be that it's a debt for someone else with your name and they've incorrectly traced them to your address. Another could be that some larger insurance companies trade under different names, so Hellix could be acting for the larger company that actually owns a trading name you could have bought from.

I guess if you're certain you've never had an insurance debt, it could be the former, and if you might have maybe it's the latter.

Ultimately there should be no harm in calling Hellix and asking for more details of the debt and going from there.

I hope you get to the bottom of it.

Allen

StepChange_Allen · 31 March 2017 at 9:04AM

Vickie123 wrote: »

Hi

This is my very first post so please bare with me.

My question is that I have very poor credit rating and have been looking into getting a secured credit card to improve my score. I already have a credit card that is no longer in use but I am paying back an agreed amount but it is less that the minimum payment and I wondered that if I get a secured credit card will that help with my credit rating or will my old credit card always hold me back?

Many thanks
Vickie

Hi Vickie

Thanks for posting and welcome to the forum.

I'm not sure what you mean by a secured credit card, it's not something I've come across? What's it secured on? In general I'd imagine if your other credit card is defaulted (I'm guessing it is now if you're not making the minimum payments), trying to get more credit might be difficult and is unlikely to make much difference if any to your credit file.

If you'd like us to look at your situation in more detail you're welcome to register with us; details of how to get in touch can be found here.

Best wishes

Allen

Cantona1966 · 3 April 2017 at 1:24PM

Hi,

I am new to the forum, having looked around for various solutions and struggling to come up with one!

I have really bad credit to the extent where I cant even get ' a bad credit' credit card to build my credit back up. I have several CCJs and old debts but this year am making a concerted effort to get on track!

My main worry is that in April 2015 I took a logbook loan out of £6500 against my car with Car Cash Point. I quickly realized I couldn't make the payments and gave the car up to the company. They then claimed that the car only sold for £1500 at auction and chased me for remainder of the debt (whcich if the loan had continued for the full 5 years would have equaled £36,000). I contested this and at a court case in August 2016, the (unhelpful) Judge valued my car at £8500. She then took this off the overall debt, added on court costs, and I walked out owing Car Cash Point £41,000.

They have since gotten a charging order on my property.

My house is probably valued at £50k.
I have a mortgage of £29k and two other charging orders before Car Cash Point totaling about £12k. My problem is I would like to pay off some of these debts to help improve my credit, but I cant because I feel that by creating more equity in my house, it significantly increases the chances of Car Cash Point taking my property?

To give you further information, I have 2 kids (aged 9 and 2) and work full time on around £28k a year.

Former_StepChange_Linsi · 4 April 2017 at 8:50AM

Hello

Thanks for your post and welcome to the forum.

It sounds like you’ve got a lot to deal with at the moment. We’ll be able to help you get your finances back on track and find the best debt solution for you.

It’s not always possible for a creditor to force you to sell your home, even if they have a charging order.

If you were to sell, or be forced to sell, your home the mortgage and then two other charging orders would be repaid first. From the figures you’ve provided it doesn’t sound as though Car Cash Point would be able to recover the full debt, so it’s less likely they’ll try to force you to sell your home.

So we can give you more tailored advice I’d recommend you call us to talk about your situation in more detail. Here’s our contact information.

I hope this helps and we look forward to talking to you soon.

Linsi

Cantona1966 wrote: »

Hi,

I am new to the forum, having looked around for various solutions and struggling to come up with one!

I have really bad credit to the extent where I cant even get ' a bad credit' credit card to build my credit back up. I have several CCJs and old debts but this year am making a concerted effort to get on track!

My main worry is that in April 2015 I took a logbook loan out of £6500 against my car with Car Cash Point. I quickly realized I couldn't make the payments and gave the car up to the company. They then claimed that the car only sold for £1500 at auction and chased me for remainder of the debt (whcich if the loan had continued for the full 5 years would have equaled £36,000). I contested this and at a court case in August 2016, the (unhelpful) Judge valued my car at £8500. She then took this off the overall debt, added on court costs, and I walked out owing Car Cash Point £41,000.

They have since gotten a charging order on my property.

My house is probably valued at £50k.
I have a mortgage of £29k and two other charging orders before Car Cash Point totaling about £12k. My problem is I would like to pay off some of these debts to help improve my credit, but I cant because I feel that by creating more equity in my house, it significantly increases the chances of Car Cash Point taking my property?

To give you further information, I have 2 kids (aged 9 and 2) and work full time on around £28k a year.

kidwispa1 · 4 April 2017 at 10:09AM

Hi I'm in the process of trying to sort out my debts after burying my head in the sand for a number of years. Most of my debts relate to old payday loans so comprise mostly of interest!

I currently have around 10 defaults on my credit file totalling around £4500. I don't earn a great deal of money but I'm in a position where I've got around half of the total amount owed. I've contacted all of my creditors and offered them 50% of the total owing as full and final settlement, as long as they remove the defaults from my credit file.

So far I've had one company come back to me, and have offered to accept my offer as full and final settlement, but will update my record on my credit file to show as partial settlement?

My question is this - does that mean that as far as they're concerned, the debt is settled with them, but they would still be able to sell the remaining balance on to a third party and they would then come after me for it?

Really want to get this sorted as I need to stop receiving all these letters and phones calls every day.

Former_StepChange_Linsi · 5 April 2017 at 8:36AM

Good morning,

Thank you for getting in touch and welcome to the forum.

I’m sorry you’re receiving lots of calls from your creditors. There’s a template letter available on our website which you can use to reduce the number of calls you’re receiving.

When a creditor accepts a full and final settlement it usually means any remaining debt is written off. Before you make any payments you should ask your creditors to confirm in writing that after the agreed settlement has been paid:

1. The remaining balance will be written off
2. You won’t have to make any further payments
3. No further action will be taken to recover the debt

You should keep the correspondence from your creditors along with proof of any payments you make.

Most creditors will mark the debt as ‘partially settled’ on your credit file after accepting a full and final settlement offer. This shows future creditors that the debt was cleared for less than the full amount.

The account will be removed from your credit file six years after it was partially settled, or six years after the date it defaulted if this was earlier.

I hope this helps and best of luck with your settlement offers.

Linsi

kidwispa1 wrote: »

Hi I'm in the process of trying to sort out my debts after burying my head in the sand for a number of years. Most of my debts relate to old payday loans so comprise mostly of interest!

I currently have around 10 defaults on my credit file totalling around £4500. I don't earn a great deal of money but I'm in a position where I've got around half of the total amount owed. I've contacted all of my creditors and offered them 50% of the total owing as full and final settlement, as long as they remove the defaults from my credit file.

So far I've had one company come back to me, and have offered to accept my offer as full and final settlement, but will update my record on my credit file to show as partial settlement?

My question is this - does that mean that as far as they're concerned, the debt is settled with them, but they would still be able to sell the remaining balance on to a third party and they would then come after me for it?

Really want to get this sorted as I need to stop receiving all these letters and phones calls every day.

hollyhenry · 5 April 2017 at 5:14PM

Hi - not quite sure how to get out of this. By just silly overspending over a number of years, I have run up credit card debt of over £26k. I am employed (I have a good, secure job) and with my husband, have mortgages on 3 properties. I have tried to get a personal loan online and on the phone from my bank to consolidate the debt but have been told I would be declined. I have an appointment for a face to face meeting on Monday. I really don't want my husband to know about this as it will add to his stress. If I can get the personal loan at a fairly low rate on Monday, I will just pay it off over a few years - I can afford quite high monthly repayments and there won't be a problem. I am earning more now than I did (funnily enough, I don't spend as much now though!) However, if I don't, I just don't know what I will do.

woowoo22 · 5 April 2017 at 6:16PM

Hi,

I hope I have done this correctly and that someone can help me. I have recently run my credit score through Noodle and am really upset/shocked that in recent years it has dropped quite considerably.

I have a large amount of credit card debt - 10K to be precise, of which is split 70/30 across two cards - Virgin (3K) 0% and Barclaycard (7K) ??%. I have made a bit of a dent in the debt on the Virgin card, but can never seem to get on top of the Barclaycard due to the interest I am paying. I am too nervous to apply for an additional credit card as I don't think I will get one with a substantial limit to be able to transfer and close the Barclaycard. I'm really at a loss as to what to do and am making myself feel ill with the thought of the debt.

I have my own mortgage and I have a loan which I got to buy a car. Am I best to approach the loan company and see if they will extend my current loan so I can pay at least some of the credit card off, or borrow on my mortgage (am loathe to do this to be honest). In an ideal world, I'd love to have just my mortgage and one other large bill to pay per month, but am a long way off from this I am aware.

Any advise would be great - thanks

Struggling with debt? Ask a debt adviser a question

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