Debt Problems article discussion

4804clare

hi i just wondered if anyone could give me some advice about my debt im a single mum on benefits and have 3 young children im in debt by around £2000 i know it doesnt seem much to other people but i really cant afford the payments there askin for, u might think get a job but i am goin through college to better myself but at the moment im gettin letters and phone calls every week can anyone help

mexicol186

Hi

I am currently with PayPlan however, my debts are not coming down signicantly. I am thinking of going with First Step has anyone heard of them thank you

nitramthe1

I watched a program some months ago on bbc1 about debt collectors ,and on it some1 said that after 6 years of not paying a debt (overdraft) that a debt recovery company or any other company could,nt leagaly recover the debt or file in court 2 recover it can any1 please tell me if this is true thanks for any help and advice given p.s great site amazing

Alba_Gu_Brach

My debts are mounting and I don't know what to do - it's seriously getting to the stage where I am being pestered nearly every day by DCA's threatening all sorts of legal action (Roxburghe and Graham White to name but a few). Think is i'm hiding it from my partner and it's causing me a huge amount of emotional distress. Another thing that worries me is that because I am a professional, I am required to sign a "Fit & Proper" declaration each year to say I'm not insolvent, have no ccj's etc, and I'm worried that I could lose my job if the DCA's take me to court. I just want to set up an affordable monthly repayment plan that will satisfy all my creditors. Any help is appreciated.

aphyde9

In August I received a telephone call from a Company called DSD, they questioned me regarding my finances, asking how much total credit I had. They said they could setup a Debt Management Plan or IVA and setup a one off payment each month to all creditors for a fee of £270. It sounded like a good way to clear off all debts within a 5 Year period. I made a payment over the phone of £60. I was instructed to cancel all my direct debits to my creditors, which I cancelled all except my Secured Loan, I rang them the next day and asked again if my secured loan was to be cancelled and was instructed Yes. I was told they needed me to pay £70 per month and they would make payments, about a week later I had a call from my loan company asking why payments had been stopped and I explained what had been setup, they told me a secured loan isn't covered by a plan or IVA, and would be charged £25 for not paying ontime and to get my direct debit resetup, which I did, I had a call from the company who were looking at the IVA saying I was unable to continue with the IVA. Mandy at DSD told me as was a secured loan it should not have been cancelled. (something I rang to double check)we have been paying DSD since August and had 6 months of calls from threatening creditors who have said they have heard nothing and received no payments from DSD. DSD are very difficult to get on the Telephone, and people dealing with our account are often out of the office and have left the company. In November I managed to get them and asked when payments have been made, to which I was told no payments would be made until the £270 fee was paid, something that they didnt explain at the start, otherwise I would not have cancelled any direct debits. All mine and my wife's debts were within their agreed limits, now they some of them have doubled with charges on the accounts. In december I was unable to make a payment due to the fact I could not contact DSD but on 5th January 2010, I managed to call and make a payment, I was told payments would be made but after more creditors calls I called back and was told payments were made on the 11th January. Since then Creditors and Debt Companies calling demanding payments insisting they had still had no contact with DSD, saying no payments have been made. It has caused us to make some small payments to companies which have finally stopped the calls, I sent an email to Ashley at DSD saying that as the creditors had not received payments, finance statements that it might be better for us to cancel and return to paying off the debts ourselves which crediors have agreed to smaller payments, I received no reply, I managed to contact them today and I mentioned cancelling the agreement and was told I had to give the plan time to work, I was told payments had been made on the 11th January but none of them had been cashed, they said the normally wait 4 Weeks before contacting the creditors asking why the payments have not been accepted. I am looking at whether it is best to cancel the managment plan and whether we have the right to reclaim our fee paid and any charges caused by DSD.

tyger.eyez

If someone has an additional cardholder on their credit card I was under the impression that if the additional cardholder overspent on the credit card then the account holder was liable to pay back all the money. However someone suggested to me that in some circumstances this may not be the case, for example if the additional cardholder overspent without the account holders permission to the tune of tens of thousands whilst the account holder spent £0 during the entire period then the account holder may not be liable, especially if the credit card company upped the credit card limit without permission and the spend went over the maxmium limit (I always thought the whole point of a maximum limit was that they didn't allow you to go over this but apparently this is not so) . Does anyone know if this is true?

churchrat

MSE---

this thread seems to be causing some confusion with new posters who are submitting questios about thier own problems. Change the title perhaps?

storeton

The 2nd cardholder is liable for any sending
In 2000 i went bankrupt and I had a Natwest Gold Card and ran up £25k in debt.
My wife was the 2nd cardholder and only with the intervention of my solicitor we negotiated a repayment £10000@ £200 a month intrest free.
They just would not leave it alone untill we negotiated so certain they were right in the context of thier rules/regs.
I never ever ask for a 2nd cardholder when I apply for a credit card,because what's the point of giving the card comany redress on 2nd cardholder?
goodluck all
storeton

mandw23

Bought my house in september 2008 and now we are selling as split up but in october 2009 my ex took ot a 7000 pound bank loan and his bank statemnets are being sent to our address! Can he have secured it on our house without my permission? I am sure you can't but can someone please let me know? :mad:

Poosmate

I don't think anyone but Churchrat has actually read the article! lol!

Interesting read (of the article in question) but is there anything new in it?

Poo