Can I ask for a CCA after making an offer of payment?

I am new to this, and hoping to get some advice as I am in deep! have huge debts, and am trying to sort them all out. Bankruptcy is not where I want to be, so trying to negotiate with my credit cards.

I have something like £100K in total of credit card and loan debt, I used it to fund a business. OK silly me, really silly, and I am now 3 and 4 years into this debt having paid huge amounts in interest and hideous charges over this time.

My life has just ground to an abrupt halt, my business was property based and has collapsed. I have some consultancy work which will provide an income, but not what I have been used to and I simply cannot afford to make repayments as they stood.

I wrote to all my creditors making an offer of between £5 and £20 a month - with an income & expenditure statement proving that with a frugal lifestyle I could not afford any more, showing all debt and all offers of payment - also an asset & liability statement, to show that I am not worth making bankrupt. I have a net worth of about £15K.

Most have completely ignored me, and I sent these letters a month ago, although the default notices are now flying in. Is it now worth me asking for a signed credit agreement or am I too late?

Also I have a £10K debt with the Inland Revenue, they have just threatened court action. Any advice on this? Make them an offer now, or let them take me to court, when if I show my income and expenditure I may be able to agree a low repayment figure?.

I did work very hard to keep my credit file in good shape, but that has now gone to to the dogs, so I am not fussed about a bad credit rating, it is something I will have to live with and do something about when this is all sorted.

Any help and advice very welcome - I am finding this all very stressful (I separated from my husband 12 months ago and am left to deal with it all!)


  • falken
    falken Posts: 72 Forumite

    I am sure the more qualified members will be along soon. Can you post up your SOA? Also would you do well getting professional business advice? Maybe your local citizens advice bureau could help with some contacts.

    Good Luck

    Total Owed: £27717 as AUGUST 2008 :T
  • fermi
    fermi Posts: 40,546 Forumite
    First Anniversary First Post Combo Breaker Intrepid Forum Explorer
    Hi. :hello:

    There is nothing to stop you requesting CCAs. That is a legal right you have regardless.

    I can understand you not wishing to contemplate bankruptcy (I've been there and then done it), but please contact the advice agencies here:

    Non-profit Debt Counsellors' List

    They will talk you through all your options.

    For the tax debts, it may be worth you talking to these people:

    TaxAid - Help with tax debts.

    Check out their website (above) anyway, since it will give you a good idea about HMRC and their recovery procedures.

    Posting up an SOA may be useful if you are looking to cut back.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • thriftymomma
    thriftymomma Posts: 1,107 Forumite
    I have been wondering this myself. Thank you xx
    Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
    Another 3% shaved off 10/12/08
    ANOTHER 4 % June 09:beer:
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