Please Help

bubbles1323

Hi All,

My first thread, now i have learnt how to do it.

I have recently been having trouble with Regal Credit Consultants, not too sure if anyone knows them.

I have a debt of £600.00 which it was agreed to pay £50.00 per month off to clear this. Today I have received a letter stating that they are now going to up the payment to £100.00 per month and I do not have to do anything but if I can not make the payment I should ring them ASAP, which I did. I currently live with my partner and I have previous debts which I am also paying off slowly but they are being paid off. I tried to speak to the person and stated that I can not afford to pay the £100.00 per month to clear this debt but can still pay the £50 and may be an extra £20 per month the person then stated that she can not accept this I informed her that I have other bills to pay and gave her a list of my out goings (I do have a large car which does cost alot) and still this was not acceptable. She then stated that I would now have court procedings against me and will be taken to court and if I do not attend they willl put a warrant out for my arrest. I then stated that I could probably get the money together this month £100 but not next has I am going in hospital for a major Op and will be out of work for over 2 weeks and will not get paid for it, she then stated still i have to pay £100..... This has really upset me and dont think I can make the payment next month so why should i make this months payment if they are going to take me to court anyway???

Thanks, Bubbles xx

savingholmes

Welcome to the board - I'm sure others will be along soon with more advice. It may be worth contacting citizens advice or an organisation like CCCS or national debtline for their advice.

If you are ready to take the plunge and discuss more than this issue you may want to post a statement of affairs - all your income, outgoings, liabilities and debts which you can do at makesenseofcards and then reformat for MSE and post here. That way people can give you some advice on where you may be able to make savings or which areas it might be wise to focus on first.

Hope that helps a bit...

pink_princess

Hi can you post who the debt is belonging to as i believe this makes a difference .This will bump your thread up so the clever people on here can advise properly.

Deep_In_Debt

Hi and welcome

They are just trying to threaten you. Keep paying them what you can afford and ignore their threats. They are probably full of hot air. If they do take you to court then the judge will probably look favourably on you and order that you pay what you are paying anyway. I doubt it will get this far.

Do not speak to them on the phone again - if you happen to answer the phone to them, refuse to go through their security questions and say you will only deal with them in writing. You have a right to do this as creditors only need one method of contact for you.

fizz190

Hi Bubbles and welcome.

It sounds like major scare tactics to me. Try not to worry too much. I would definitely get in touch with one of the debt advisors as recommended by savingholmes, and I'm sure others will have more advice.

My instinct (and personal experience) is that they won't enforce this increase so don't panic.

I have a nice little routine with one of my creditors whereby every month or so they call to ask me if I can settle the account. I say no. They then ask if I can increase the payment. I say no! The call then ends and they leave me alone for another month! Luckily all the advisors seem to be human with this company, but I can see a day where these calls won't be so easy!

Try not to panic too much, I hope it gets resolved.

boredofbeingathome

Have you been in touch with CCCS or another non fee aying debt charity? In all honesty if they did take it to court you could defend it by showing your SOA and they would probably end up with less.
Please see if you can contact one of the charities mentioned and they will advise you in full. National debtline are usually good to get hold of as well.

Welcome to the boards by the way.
BOB X

They are just scare tactics, and i would report them to the Fsa for the way they behave...probably a bonus in it if they can get the extra dosh out of you..the court certainly wouldn't waste its time issuing a warrent of arrest for something like that and they would be laughed out of court if they tried it.

Deep_In_Debt

Yep, they are just threatening. Don't worry about things like warrant for your arrest - you've committed no crime and they have no powers to do this, so let them spout their cr*p at you!

I have fun with people like that on the phone now - they spout all sorts at me and I just spout back all the points of the debt collection guidelines they are breaking and what rights I have. It's amazing how many times these low lifes have put the phone down on me!

They get bonuses if they can get you to pay more - don't let them have the satisfaction.

Honestly, don't worry and carry on paying what you can afford.

bubbles1323

Hi Thanks for your replys (several tears later :() just done the makesenseofcards thing pasted below hopefully it will work.. The debt is an old Barclays overdraft account

Thank you so much, I have no idea what to do!

xx

bubbles1323

Hi Thanks for your replys (several tears later :() just done the makesenseofcards thing pasted below hopefully it will work.. The debt is an old Barclays overdraft account

Thank you so much, I have no idea what to do!

xx

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1078
Partners monthly income after tax....... 1300
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2378

Monthly Expense Details
Mortgage................................ 575
Secured loan repayments................. 236
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 98
Electricity............................. 44
Gas..................................... 44
Oil..................................... 0
Water rates............................. 39
Telephone (land line)................... 15
Mobile phone............................ 60
TV Licence.............................. 11
Satellite/Cable TV...................... 45
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 98
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7.1
Pet insurance/vet bills................. 24
Buildings insurance..................... 28
Contents insurance...................... 0
Life assurance ......................... 28
Other insurance......................... 98
Presents (birthday, christmas etc)...... 30
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 2000.1

Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 6500
Other assets............................ 1000
Total Assets............................ 92500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 77000....(575)......5.1
Secured Debt.................. 7000.....(236)......0
Total secured debts........... 84000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclay card...................1200......30........0
Monument.......................1200......30........0
Additions......................500.......30........0
Regal Credit...................600.......50........0
Captial One....................1000......50........0
Egg............................500.......50........0
Virgin.........................3000......150.......0
Total unsecured debts..........8000......390.......-

Monthly Budget Summary
Total monthly income.................... 2,378
Expenses (including secured debts)....... 2,000.1
Available for debt repayments........... 377.9
Monthly UNsecured debt repayments....... 390
Surplus(deficit if negative)............ -12.1

Personal Balance Sheet Summary
Total assets (things you own)........... 92,500
Total Secured debt...................... -84,000
Total Unsecured debt.................... -8,000
Net Assets.............................. 500

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

======== Enter any other useful information below ========

e.g. the number of adults & children in the household, the number

of cars included in the SOA or anything else that may be useful.

Deep_In_Debt

Hi
A few things jump out at me - can you reduce your mobile? PAYG?

Can you get rid of satellite? You can get freeview through the box.

Groceries - how many is this for? I'm sure this can be reduced.

Can you stop the clothing? Buy in charity shops if necessary.

What's the other insurance?

Can you ditch the holiday fund for a while?


Sorry, if my questions seem a bit harsh - not meant to be.

bubbles1323

Thanks you, I am tied in my mobile until June 09, at that i am defo going PAYG never getting a montly one again
SKY is going off this month (well any day now ) my sister is giving me a freeview box

Groceries i did think this was high my partner said this amount, I dont think we spend this much its only for two of us and my partner has two dogs so think Tesco is a no no and need to look round

Clothing - that is a good idea didnt even think about that, bargin hunting I go thank you

Other insurance is my car i think unless i have done it wrong and added that in somewhere else too not done one before - its high but that was the cheapest i could get for my car only been driving for a year (got the quote from confused)

Holiday was booked in haste about 3 months ago for next year if i ditch it i will loose the money but then again even if we did at least i could clear the debt and then go afterwards

Sorry i hate being in trouble and think i need to get things in prespective, about time I did anyway thank you, your not being harsh but being helpfull

xx