In serious debt trouble

kimdegsidash

Hiya
Good news, sort of, on the charging order. Does that mean that the judge might order that the total amount owed is actually less than Natwest are claiming? If yes, then that has to be a good thing at least.

In your experience, how long does it take the creditors to reply to your initial letter explaining your financial difficulties and offer of token payments? I sent mine last week (4th Feb) and not heard a dickie bird out of them since - except more letters about late payment (look pretty standard and certainly not in response to my offer).

I hope the pre-payment meters are something you can live with. We didn't want them here so borrowed from family to pay off the arrears. It's just the thought of not having gas or electric if you don't have the cash - when you have small children that is not a nice prospect.

RBS haven't responded at all. Wonder if my local bank branch manager is one of the 260-odd being made redundant? TBH I can't face calling any of my creditors - the shame is still too much to bear - how have you coped with phone calls?

Both Egg and Cap1's response to my obvious inability to pay the minimum amounts on my CCs has been to up the interest rate. Very nice of them to do that isn't it? I'll be glad when I'm shot of the lot of them.

Well done on the progress you have made so far. One day we will all look back on this period in our lives and be glad it's all over...

fonay1805

Yeah, if I can proove that the amount Natwest have claimed for is wrong then the judge will lower the amount owed.

I still haven't received replys from all of the creditors. I'm hoping to get some more back this week. All I'm thinking now is that if they don't respond then next month I shall send out the same letter again, that way if they do end up trying to take me to court or something I have evidence that I have tried to come up with a solution more than once.

I'm not happy about the pre-payment meters but needs must. We couldn't borrow the money to pay them off so it was the only solution open to us. I don't know if they can be changed back in the future. I hope so.

I haven't had that many phone calls really. Less than I would have expected anyway. All I've done since the letters went out is told them that I have written to them and am awaiting their response.

I'll definately be glad when this is all over. I can't wait to get back to proper living again.

fonay1805

I finally got a breakdown from Natwest and just over £2500 of the £4095 charging order is charges they have put on the account. There is also about £460 of interest to. What that means is that the original amount I owed them was actually approx. £1500 not the £4095 that the charging order is for. Does anyone know who I could get into contact with to show that over half of the claim is bank charges? Also do you know if I am actually able to do that?

fonay1805

The new water rates arrived the other day and I remembered to send the direct debit form off this time so the amount I'm paying should drop from £50 to about £35. It doesn't sound muuch but there's a lot you can do with £15!!!

beanielou

Great~as you say you can do a lot with £15

kimdegsidash

Was the Natwest debt a credit card? If so, reclaim the charges. These guys are taking the p!ss. You are perfectly within your rights as a citizen to reclaim unfair credit card charges - if I recall correctly the maximum charge per default is now £12. Prior to the court ruling many banks charged much more than this. The likelihood is that you were unfairly penalised in ongoing charges and you can make a claim against Natwest for the charges to be refunded to you. The current hold on bank charges reclaiming does not apply to credit card charges. I think, but am not entirely sure, that in a lot of cases the entire amounts were refunded, not just the difference between the actual charges and £12. It's worth a shot surely?

fonay1805

The Natwest charges were from a bank account I used to have with them. I will have a look at reclaiming charges from them using the letters on this site. I reckon I'll probably have a few more once I go back the full 6 years!!

tuggy

fonay1805 wrote: »

Satellite/Cable TV...................... 45 this is a luxury, they may not allow it. - I understand the principle behind what your saying, however, my kids enjoy having their programmes as does my wife so I would call this something else if I had to. I have reduced it to £34



Presents (birthday, christmas etc)...... 20 they dont give for these things, they are luxuries - Like I said with the sky, I will call this something else if I have to. I understand why I shouldn't be listing these things but there is no company I owe who is going to tell me I can't buy my family presents etc

If this is your attitude you wont get out of debt?! You said your children were a baby, 2 and a 3. They dont need many presents! you can get a few pieces for 50p from a charity shop, or freecycle. I think you're wanting the debt to disappear, without having to cut back! In order to get rid of the debt you HAVE to free up extra cash, and that means CUTTING BACK. I know its not fun, I know you dont want to....but you have to.

How else will you suddenly magic up the spare cash to throw at debts?

Sorry if this seems harsh, but your attitude seems wrong with regards to your luxuries. :rolleyes:

Keeping_Positive

Going cold turkey and cutting out all luxuries can back fire by leading to silly splurges. Debt busting can be similar to weight loss its better to go slower at times for better long term results.

I do agree though save money on presents whilst the kids are young. Mine used to count number not value so 10 £1 presents would be better to them then 4 £5 presents. Now they are older it doesnt work :mad:

fonay1805

tuggy wrote: »

If this is your attitude you wont get out of debt?! You said your children were a baby, 2 and a 3. They dont need many presents! you can get a few pieces for 50p from a charity shop, or freecycle. I think you're wanting the debt to disappear, without having to cut back! In order to get rid of the debt you HAVE to free up extra cash, and that means CUTTING BACK. I know its not fun, I know you dont want to....but you have to.

How else will you suddenly magic up the spare cash to throw at debts?

Sorry if this seems harsh, but your attitude seems wrong with regards to your luxuries. :rolleyes:

I understand what your saying and where we have been able to cut back we have done, however, I still have to offer some kind of quality of like to my family and therefore I am not prepared to let them go completely without. £20 a birthday is not a great amount of money to spend on my kids.