Has anybody ever had theri debts written off ?

mrelephant_2

Hi to you all out there, found this site @ 2wks ago and have posted on it a few times now and would just like to say that i think you are all great and extremely helpfull, certainly reassuring to know theres others out there in similar situation, really does easy the worry.

Right that out of the way, I was just wondering if anyone has had their debt written off purely on the basis that they have been making say minimum £1 payments continuosly over a long period of time to the point their creditor/s have accepted they are never gonna get their money back?

Its just that i recently had a conversation with MBNA (see thread i posted previously) and basically i was informing them i was going to increase my token payments from £1 to £3 per mth. In a nutshell, they almost laughed and said that if i could only offer this amount of money my debt would be sold on to a thitd party, and this would probably continue over and over again without being taken to court and made redundant by a creditor. Firstly because of the fact i was making token payments and secondly because i was in work.

So this had led me to think, will this continue forever or will there come a time when my creditors will get fed up and just wipe my debt off.

I do realise i may never be able to get credit again if this is the case, but to be honest i dont think i will ever want to get credit again as i dont own a house iam 45yrs of age and don't want to be taking ut a mortgage anyway, and am quite happy just buy old cheap cars when needed.

Any thoughts ?

[Deleted User]

All the time you are paying £3 a month they are getting something - and this could continue for many many years potentially.

I doubt they'll wipe the debt - but depending on how much you owe - and if you can get your hands on reduced lump sum - you may be able to offer them a full and final settlement.

sparkle84

hi yes I commented on your previous post indicating that I too was paying a tiny amount due to illness and also that I was intending to continue paying that until I had saved £4,500 - I should point out that with my bonus I will have saved that by September and then will be upping my payments to £300 - I cannot see anyone accepting £1 for any longer than a year or so but I could be wrong - but you will end up with at least 1 or 2 CCCJs in which case you will have no choice but to pay, perhaps bankrupcy would be possible for you although it would involve a BRO for anything up to 5, 10 years due to your gambling - or you in a postion to increase you payments in anyway or is that just not possible?

mrelephant_2

I should be in a position to increase my repayments within about 2mths time, posibly to the point where i may have @ £200 - £300 available for my creditors. I am contacting Payplan after the festive holl's to discuss my options suh as a DMP or IVA, nutideally like you i thought of buying somtime to save some money as back up for emergancies before committing to a payment plan. say 6mths or so, possibly even a year if i can get away with it for that long.

jate_2

mrelephant wrote:

Hi to you all out there, found this site @ 2wks ago and have posted on it a few times now and would just like to say that i think you are all great and extremely helpfull, certainly reassuring to know theres others out there in similar situation, really does easy the worry.

Right that out of the way, I was just wondering if anyone has had their debt written off purely on the basis that they have been making say minimum £1 payments continuosly over a long period of time to the point their creditor/s have accepted they are never gonna get their money back?

Its just that i recently had a conversation with MBNA (see thread i posted previously) and basically i was informing them i was going to increase my token payments from £1 to £3 per mth. In a nutshell, they almost laughed and said that if i could only offer this amount of money my debt would be sold on to a thitd party, and this would probably continue over and over again without being taken to court and made redundant by a creditor. Firstly because of the fact i was making token payments and secondly because i was in work.

So this had led me to think, will this continue forever or will there come a time when my creditors will get fed up and just wipe my debt off.

I do realise i may never be able to get credit again if this is the case, but to be honest i dont think i will ever want to get credit again as i dont own a house iam 45yrs of age and don't want to be taking ut a mortgage anyway, and am quite happy just buy old cheap cars when needed.

Any thoughts ?

NATIONAL DEBTLINE... THEY HELPED ME ON LINE AND OFF THEY ARE GREAT FOR DOWNLOADING PRE WRITTEN LETTERS

jate_2

I had one debt written off due to me visiting the national debtline site and downloading a pre written letter then l changed some details that suit my circumstances... MBNA... obliged.... Capital one said NO!

mrelephant_2

Jate

You say you had a debt written off?

Any chance of letting me know how much that was and for how long you had been failing to meet the repayments?

jate_2

15 grand failing to meet repayments approx 3 year, but I would not of attempted to even approach them before going to the site I mentioned, they sort of gave me confidence, I also stopped a charge going on my house, this too was after checking the Debtline site, I also stopped all creditors from ringing me at home. all this is down to this site Martin Lewis, that is were I gained all my information from and how to handle things like letters and threats of charges.

debbie43_2

Hi, i have been paying token payments of £2.50 to each creditor for 3years now, not actually to the cc but to debt collection agencies the cc sold the debt to. I sent one of those letters of the National Debtline website to one of the companies asking for the debt to be wiped off but they said 'NO'!!! I will continue with the token payments for another year and then send another letter and see where we go from there. Can you let me know how you stopped the charge going against your house cos that worries me incase they do that to us, we have a lot of equity in the house. Thanks, Debbie

jate_2

I got the letter for the charge off the site debtline and downloaded it, added my own personal circumstance to it and posted, the debt agency then wrote to me saying that they had given the debt back to the creditor, they then contacted me and asked me to carry on paying the £13.00 per month, after that I heard no mention of a charge again. hope that is helpful to you.