Debt questions help needed

debbage

Hello,

I have had a few financial difficulties that has seen my income decrease by half at this moment. My income is increasing and will be a lot higher in the next 6 months as I have commission coming to me.

So at this moment as I can not afford my repayments on loans and credit cards I have asked for some breathing space for 6 months and offered a token payment of £1.00 and then will review the situation when I will be able to substanially increase my monthly repayment.

I have dealt with the citizens advice and they have been very helpful and my lenders are aware of this but........

Cahoot keep charging me for missed direct debit payments when I cancelled this back in September they have still charged me for Oct & Nov stating unpaid dd...can they do this when I have cancelled this and informed them in writing?

Amex seemed to be the worst they have passed it on to a debt collector agency who when I spoke on the phone said they were not interested in the fact I will be able to offer more in 6 months time and that I should get myself a solicitor as they are going to try and repo my house, even though its in negative equity and I have never missed a payment....can they do this?

any info would be great

Thanks

Shona_3

Someone more qualified will be along in a bit but unless you secured your amex against the value of your house then NO they can't repo it. What shocking scare tactics!
x

debbage

Thanks,

no the amex card debt is not secured against the property. The only debt I have secured is my mortgage which I have never missed a payment and make sure this is my priority

Leixlip1

AMEX always play hard ball. they refused to negotiate with me and referred the matter onto a firm of solicitors who said they would seek a CCJ and Charging Order - in the event they only got a CCJ based on payments (pro-rata with my other creditors) I had already been making to them for several months.
Strangely I still get the odd letter from AMEX referring to me as "a valued customer"!

debbage

Hello,

Please can someone help me with regards to this:

Newman Debt collectors again contacted me today with regards to my offer of a token payment for the next 6 months with details of my income and expenditure that I prepared with citizens advice and stated that they do not take offers at all and only want the full payment of the balance otherwise they will take me to court and seek a bankruptcy demand. I told them that all of my other creditors have agreed to this in the short term and that I have felt bullied.

I have explained to them if this was to happen then they would not get a penny as I am in negative equity and my mortgage company would take everything (which i have never missed a payment on) and I would also lose my job so they would not get anything from me and that I do want to pay them and will be in a situation in the next few months to start offering a better payment plan. They said they do not do any payment plans as my agreement said that I have to repay the balance in full if I default.

I have now asked for them by phone for a copy of this agreement and the gentleman on the phone seemed a bit put out and that I have to put it in writing which I am.

any advice would be of great help

Thanks

dancingfairy

It sounds like you are doing all the right things to be honest. Do not let them bully you - they can't have what you haven't got after all. Keep paying them as per your plan. Definitely send a request in for the CCA in writing - I think there is a template letter around here you can send to them. Just remember not to sign it as some companies have discovered how a scanner works and have been known to scan signatures onto credit agreements.
Would also post your SOA up here and see if people can save you any money that way.
Good Luck but it definitely sounds like you are on the right track.
df
Also I don't think companies have to stop charging you as technically you are breaking the terms of the original agreement - not sure if they can charge you for missed direct debits or not but I guess so as they seem to be able to add charges on for everything else - sorry. Some companies are more helpful than others in stopping interest - it seems now some companies are feeling the pinch they are not feeling quite as helpful towards their customers. Grr.