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kstp2002

many thanks sue this is a great help

Originally Posted by kstp2002
hi all, can anyone offer advice? I recently found out i do not have an IVA. It was actually an informal arrangement that Spectrum did for me. This ends 8/6/11, but I'm still going to owe money after this date. I spoke to Spectrum to ask for balances for the money i owe, so i could start to pay some final payments. They said they can't tell me unless i have proof i can pay some off (obviously so they can take their cut) Would i not be better off ditching Spectrum and approaching the banks i owe money to myself?

Jojo01_2

Hello,

I have a question that I am hoping someone can answer.

My husband took out an advert with Yell.com to advertise his business. However the business never took off and he had to get a job. When Yell sent him a letter asking him to pay the full amount or they would pass it on to a debt collection agency, he contacted them and agreed to pay by 3 monthly installlments. The 1st he paid on the 31/03/09, the 2nd would be due on the 30/04/09. My husband is in Germany on business and should be back home some time later this evening. However, when I arrived home from work today there was a letter waiting for him from Moorcroft Debt Recovery saying he had to pay £989.70 in 7 days or he will be taken to court.

My question is, how can Yell pass it on to a Debt Agency when he has made an agreement with them and how can an outstanding bill of £115.00 increase to nearly £1000? I know that the 2nd payment is a little late but my husband couldn't pay it while away in Germany. This all seems very harsh to me. Any help would be greatly appreciated.

joolsangel

Hi there my debts arnt huge about thirteen thousand but i cant make ends meet failing to make my monthly repayments i have a property ive been renting out for 2 years but ive never made any monthly profit in fact after paying letting agent fees im having to find over £100 per month to cover mortgage and insurances, my property was vacant for 3 months so ive run up mortgage arrears. i feel like im reaching breaking point and the insolvancy option is always on my mind i know that obviously this would make me "blacklisted" for want of a better word, but have heard people say that it may only be for a short time. That i may not be uncredit worthy for life! i have no desire to apply for any credit in the future but am worried that if i ever have to rent a place to live thay wouls check my credit rating. Ive also heard that if you have a credit card or loan that was taken out before 2007 you maybe able to have that debt written off if it was mis sold.Any Answers or advise would be so appreciated many thanks julia

Mr42

Hi

I've just started a DMP with CCCS to pay back approx 32k of Credit Card debts and a 10k loan. The repayment plan has been agreed with my creditors. If I started proceedings to reclaim my charges on these cards, could any of them close the account and demend immediate repayment? Or now they've agreed the repayment plan are they obliged to honour that provided I keep up my part of the bargain?

Also, I initiated proceeding to reclaim just over 2k of bank charges last year. I wrote recently and claimed hardship, but they have refused, saying that now I'm on the DMP my income and expenditure balance. Is it worth me countering this with another hardship claim? (I guess this may be on the wrong forum).

Cheers,

Mr42

sammiejayne_2

Hi sorry for the LONG story below but please, please can anyone decipher this for me....I am really confused?

Hope someone can help me...I had a mis-sold PPI policy by Carcraft & took them to the financial ombudsman, the case has been ongoing for over 18 months and yesterday I received their final decision, which says it has been foundin our favour....I do not understand it and was hoping someone could help me, this is the decision:-

Carcraft must....

A. arrange for the loan to be restructured (without charge to Mr & Mrs Tanner) so that
- any interest charges in respect of PPI (inc interest and charges) are cancelled and;
- the number and amount of any future payments (inc any interest and charges) are the same as would have applied if they had taken the loan without PPI

B. Calculate and pay Mr & Mrs Tanner the amount of net payment s the consumers will make up to the time of settlement in respect of the PPI (inc interest and charges) by comparing:

- the payments actually made
- the payments which woul have applied it the had taken the loan without PPI and
- add interest on each of these net payments at the rate of 8% per year simple from the date of each payment to the date the compensation is paid less any premium refund actually paid to them on cancellation of he policy and

C. set out in writing for MR & Mrs Tannerthe amount outstanding and the number and amount of any future payments under (A) and the details of the calculation under (B)


.....Thats it :-D

di3004

sammiejayne wrote: »

Hi sorry for the LONG story below but please, please can anyone decipher this for me....I am really confused?

Hope someone can help me...I had a mis-sold PPI policy by Carcraft & took them to the financial ombudsman, the case has been ongoing for over 18 months and yesterday I received their final decision, which says it has been foundin our favour....I do not understand it and was hoping someone could help me, this is the decision:-

Carcraft must....

A. arrange for the loan to be restructured (without charge to Mr & Mrs Tanner) so that
- any interest charges in respect of PPI (inc interest and charges) are cancelled and;
- the number and amount of any future payments (inc any interest and charges) are the same as would have applied if they had taken the loan without PPI

B. Calculate and pay Mr & Mrs Tanner the amount of net payment s the consumers will make up to the time of settlement in respect of the PPI (inc interest and charges) by comparing:

- the payments actually made
- the payments which woul have applied it the had taken the loan without PPI and
- add interest on each of these net payments at the rate of 8% per year simple from the date of each payment to the date the compensation is paid less any premium refund actually paid to them on cancellation of he policy and

C. set out in writing for MR & Mrs Tannerthe amount outstanding and the number and amount of any future payments under (A) and the details of the calculation under (B)


.....Thats it :-D

Hi there

Well done on this, Congratulations.:T:beer::T

You could try copying and pasting your post over to the PPi reclaiming thread here if you want to:
http://forums.moneysavingexpert.com/forumdisplay.html?f=169


In regards of this matter, if the loan is still active, the FOS may suggest that they use this on the loan, which should bring your repayments down a month. So in other words applied to the loan.

If the loan is settled, you should expect to receive paid directly to you in a form of a cheque.

There is also a link here to give you some sort of idea on how the FOS calculate, hope you find thie helpful.
http://forums.moneysavingexpert.com/showthread.html?t=1596473

So pleased for you, as I am aware there are very high volumes of these complaints within the FOS.:T

di3004

Mr42 wrote: »

Hi

I've just started a DMP with CCCS to pay back approx 32k of Credit Card debts and a 10k loan. The repayment plan has been agreed with my creditors. If I started proceedings to reclaim my charges on these cards, could any of them close the account and demend immediate repayment? Or now they've agreed the repayment plan are they obliged to honour that provided I keep up my part of the bargain?

Also, I initiated proceeding to reclaim just over 2k of bank charges last year. I wrote recently and claimed hardship, but they have refused, saying that now I'm on the DMP my income and expenditure balance. Is it worth me countering this with another hardship claim? (I guess this may be on the wrong forum).

Cheers,

Mr42

Hi there

I'm sure someone who knows of these issues will post up soon, good luck, but I would also open a new standard basic account elsewhere just in case, however, I don't think they will close your account down, but its always best to have another account to fall back on.

Good luck.;)

liddyloo

Hi,
I am struggling. The finanicial problems I am having do not seem to be classed by many as debts, although i do have 2 credit cards these are not my biggest problem.
I'm sorry, this may be a long story...
I changed my job in January and that seems money wise to have been the worst thing I could have done. My december wages from my previous job was paid a week or so early with the added expense of christmas it meant that for some of my direct debits 2 months worth were coming out of one months money. This wouldnt have been so bad but when I left my job my final pay packet was only for 2 weeks and my new employer didnt pay us for six weeks! Something to do with getting our (there were a lot of us that started at once) information on their systems or some fooey. So not only was i having direct debits coming out, being recalled and then trying to be taken again so again causing 2 payments in 1 month but i was being charged £25 each time for the pleasure. I am now stuck in a horrible circle that is just getting worse. Each month my wages are going in paying the charges and over draft on my account not leaving enough to pay my debits to come out so i get charged and of course it means im trying to pay 2 lots of bills in 1 month again and its just going on and on and i cant see how to stop it. The charges just keep coming.
I know this is long and possibly not the easiest to understand but any advice would be hugely appreicated!
Thank you

dean_corso

Hi, I have a DMP with CCCS that has been active for 20 months. My question relates to bank charges before the DMP was set up. Would it be a good idea to try to reclaim these charges or are the banks likely to take a dim view? I have credit card and bank account debts. Thanks.

bobpitbull

Hi,

I've just received my documentation through for setting up a DMP... however, I have a further - smallish - debt which I forgot to declare... a £650 bill for membership of a leisure centre (one which we stopped attending when we went into hardship but which we still had 10 months' contract left on which they refused to cancel)... the membership runs to end August 2009... can I add this to the DMP?

Robert