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Andypolack

Hi,

I am in the process of setting up a DMP (the pack came through about 2 weeks ago), unfortunately also during this time, it seems 2 of my debts have been passed through to 2 Debt Collection Agencies. Bearing in mind that once i have sent all the info to the CCCS, it will probably be another month before the debts and my first payment is paid, what is the best way to deal with these agencies.
They request that I phone them immediately and i am keen to do this, but will informing them that i am soon to be on a DMP placate them a little. And how much info do i reveal?

Thanks,

Andy

kameka_uk

I have two big loans with Barclays and Alliance and Leicester, I am working part-time and cannot afford to pay. I have offered to pay what I can afford.
I contacted DF LOAN FREE who said my loans may be Unenforceable and that my oustanding balances can be written off. Is this something that you are aware?

fermi

kameka_uk wrote: »

I have two big loans with Barclays and Alliance and Leicester, I am working part-time and cannot afford to pay. I have offered to pay what I can afford.
I contacted xxxxxxxxxxxxxx who said my loans may be Unenforceable and that my oustanding balances can be written off. Is this something that you are aware?

We are aware:

http://news.bbc.co.uk/1/hi/business/7894840.stm

charliemouse

Had our meeting with CCCs today on the phone - and basically the outcome was that we have to make token payments to all the people we owe money to of £1 per month.

I feel like i have waited 2 weeks only to be none the wiser as to what to do about our debts.... making a token payment of £1 can't be a long term solution surely. And i can't see our financial situation changing...so what happens next??????

can someone please help i feel so fed up i was really hoping that the meeting today would set us on the path of being able to find a solution of how to deal with this situation - i feel like i've been left in limbo. and to make matters worse this isn't even my debt it is debt that my husband ran up using a secondary credit card on my account.

£35000 is the total that we owe after going through our finances it was worked out that we were about £500 short every month on basic living. That does not include the £550 minimum payments to credit cards and the bank fees of £100 per month.

Can some one help????? i just feel like running away from the whole situation.

CCCS_Matthew

monbiot wrote: »

Hi!

Almost 6 years ago, I was working in Scotland, when matters came to a head.

My credit card was maxed out, I had 2 massive personal loans in addition to student loans (undeferred and therefore in arrears), then the relationship I was in ended (messily) and the bipolar disorder which had flared up once 4 years ago made a reappearance, no doubt triggered by the "life experience" that is breaking up. I fell into chronic depression.

My employer responded by firing me, and what's more by saying the last 5 weeks of pay (long spent) needed to be repaid as they had made a mistake with my sick pay entitlement. This despite doctor's notes and a letter from my consultant psychiatrist.

Well, since then I've relocated and have (just!) finished paying back the credit card, the personal loans and the student loans. I haven't had a recurrence of bipolar disorder since, and my income has increased a fair bit. I have even started to put some money in an ISA now - unthinkable to the person I was in those dark days in Scotland!

However, as I was living in a flatshare at the time, there may be bills in my name that weren't taken care of (I think I sorted most of it out, but wasn't in the best frame of mind). Also, I haven't paid back my former employers - they are not high on my list not least because of their behaviour in my time of need but also as, when we last spoke, they agreed the amount would be kept interest-free until I did arrange to pay it back. I really feel aggrieved about paying them a penny - but don't know if I could justify not paying them at all to myself.

I'm still stuck with the basic bank account I opened when I was a kid - I fell back to using this account when everything hit the fan. I've been offered an upgrade to a current a/c 3 times now, but each time I fail the credit check.

I tried to register with Experian's free trial but they requested photocopies of passports etc ostensibly to verify my identity - this scared the bejesus out of me as I'm not really sure what they do with that sort of documentation and why they would need it. Any idea?

I suppose I'm also worried that doing this will flag up some mountain of debt my crazy (I use the word advisedly) six-years-younger self ran up and I have to thus deal with those charming agents of debt recovery again. Is this possible? Do Experian tip off creditors?

I'm also tempted just to wait another year before applying for any form of credit so that anything on my credit record from 6 years ago just goes away and I can get on with my life.(as I've read elsewhere on these forums) I've managed fine without credit for 6 years, no overdraft, no debit card, no credit card - nothing. I'd only want a current account etc to start to build credit up for a mortgage - and that is some time away(!).

So what do you think? Should I make like an ostrich? Any responses would be gratefully received. Sorry it's such an essay!

Hi there,

As far as I know, Experian require ID in some cases simply to ensure they are sure the person requesting the information is who they say they are. It's not in the interest of the credit refernece agencies to "tip-off" lenders about outstanding debt as lenders are only by law allowed to look at your credit file when you've given permission (normally when you apply for credit), or when they are registering a default against you.

You could also try contacting one of the other two credit reference agencies:

www.equifax.co.uk
www.callcredit.co.uk

Hope this helps,
Matthew.

CCCS_Matthew

smiffy1982 wrote: »

Hi,

I split with my ex-parter in 2006 and we had a secured loan on our property for £25k. We split up and the house was handed back to HSBC and their were no outstanding arrears for the mortgage...We had the 25k loan with Firstplus and called them when we split up to advise of the situation and that we are happy to set something up in the near future.

Its now 2009 and i have had a letter from Castle Debt recoveries, my first letter stating they want the balance of £22235.62 in full or contact them to arrange a figure to pay them monthly etc.

I called them friday and explained that the debt is what i beleive to be 'Joint Severance Liability' and that the debt is for me and my ex-partner so effectively i am happy to pay £11k

My ex-partner now has another fella and another kid, and doesnt work at all, never has done since we had a kid back in 2004, so she has no income, or very little supplied by the government. I pay her CSA of £264 per month (which is arrears included) and i currently earn a fair wage as i am a manager at a large company.

Me and my current partner live together and i pay half of the bills etc and we are comfortable, not lots of money left each month and she knows of my past and knows my poor credit history because of this.

I have given the debt recovery company my ex-partners address s i felt this fair, why should i pay the full debt when they can contact her. I am now going to CAB on monday to try and look at what my options are, which is causing me alot of stress...what help can i get...what timeframe have i got to pay things and also ill i be liable for all of the debt because im the only one of us working??

Your help is greatly appreciated

Smiffy1982

Hi Smiffy.

As you are both joint and severally liable for the debt, you are both reponsibile for the whole balance. Unfortunately, this means you cannot just pay half of the balance to take your liability away from the remaining half. As they have now got an address for your ex-partner it's likely they will chase them as well, but the debt will not be settled until between you the whole lot is paid off.

Considering the amount is quite sizeable, I would certainly suggest reviewing your options. Although you've contacted the CAB, you could consider either ringing to book an appointment with one of our debt counsellors on 0800 138 1111, or try the online advice tool Debt Remedy by clicking here

Hope this helps,
Matthew.

CCCS_Matthew

turfy6 wrote: »

Hi, I have a credit card that is max'd out at the mo. They have stopped me using it and I have been making a weekly payment to try to make some inroads into paying back. My other half is now claiming benefit and we have three children the usual mortgage and loans to pay back. There is not much spare at the moment. I am looking for a small cleaning job to fit in with school etc but not having a lot of luck just now.
My question is how do I go about tackling this problem with the credit card, I have to send a steriling draft each time I make a payment as this seems to be the cheapest option for me, I have read things here about freezing interest to help out. I have also tried to speak to them on the phone (not easy to India) not always easy to understand. They have just agreed to suspend a late payment charge as I have told them I will make a payment this coming week. Its beginning to get me down as I cant see a way forward with this. The card is a UK card that I have had for years, I have cleared the arrears twice before but am really struggling this time.
I'd be grateful for any advice. Thanks

Hi there,

Is this the only debt you have, or do you have other debts you are trying to deal with? I’d suggest the best thing to do would be to perhaps start a new thread on the DFW board outlining you’re current financial situation by completing a SOA (Statement of Affairs). You can do this here:

http://www.makesenseofcards.com/soacalc.html

Once you’ve done this it outlines your financial situation in a lot of detail and helps us advice perhaps where you can cut back or save money, and in theory work out how much you can offer to your credit card company. Depending on how much this is in relation to the balance also helps see what other options you have.

Hope this helps,
CCCS

CCCS_Matthew

Rumpleteazer wrote: »

We thought our DMP with CCCS was all sorted and have made first payment. But today we received 2 letters from GE Money. One just said that they are not able to accept our offer of payment, the other said that we have ignored previous attempts to contact them (we have written to them twice and spoken to them on the phone!!!) and says that if they do not hear from us within 3 days of the date of the letter (it is dated 7.2.09 and we received it on 19.2.09!!!) then they will begin formal recovery action.

They then go on to say that they will issue a default notice which the first step towards recovering the car that we bought with the loan or pursuing through the courts. We phoned GE who said that they would expect us to sell the car or downgrade to a cheaper one - this is all very well but our car is worth much less than the value of the loan and we need a reliable car, because we can't afford to maintain one that isn't! We live in the middle of nowhere so a car is essential! We phoned CCCS who said don't worry about it and that GE will most likely pass on to a debt recovery company.

However, my wife is now thrown into a complete state of panic and despair. Has anyone had any experience of GE or can say anything that I can pass onto my wife to reassure her? At the moment she is convinced someone will just turn up one day and take our car away, and that generally the world is about to end!

Hi there.

Not all creditors are willing to accept arrangements on a DMP, but this doesn't change the situation - you cannot offer any more money. If they aren't happy they are well within their rights to issue a default but you really have nothing to worry about.

As the loan with GE is not secured on the car, such as Hire Purchase they cannot force you to sell it, and under no circumstances can they repossess it. You really have nothing to worry about, the only formal enforcement they could take would to be obtain a CCJ against to establish through the courts how much you can pay on a monthly basis. Even at this stage the court cannot make you sell the car to settle the debt.

Hope this puts you at ease a little.
Matthew.

focus27_2

hi

i have a joint dmp with my husband but have decdied that i want to be responsible for my own debts only (with the exception of joint debts and basically want my own dmp. can you tell me the process with cccs pls in arranging this.

thanks in advance

topbadger

My DH has been told by one of his creditors that if they accept a full & final settlement offer from him, it will then be marked as a bad debt on his credit file. Is this true? I thought a F&FS was the end of it and it would be marked as satisfied on his credit file!