hi im in great need of some advice please

justruth

See thats not too bad, it give you a little breathing space and if you use the phone again you're not left out of pocket. Do you feel better for having tackled one of the creditors?

supakid

i feel good i still need to sort out some others before i take a breath lol, its ok 1 at a time!.. when i send the letters out to the bank will i offer the token payment or shall i start a claim back for the charges 1st? ... again thanks for your help! and do i include a copy of a SOA to all the people i send a letter to?

justruth

Write to HSBC regarding the overdraft and the credit card seperately as they are probably run seperatley if I remember correctly. For your overdraft do you know exactly how much the bank has taken from you in charges? If so is this amount greater than the amount you owe them? If this is the case then I would recomend not including any token payment, only sending a letter to reclaim charges and stating in this letter that the amount you are overdrawn is less than the amount they owe you! Include the SOA in this as well as stating that you lost your job as you have to show financial difficulty for your case to be looked at.

Same again really for the credit card, but I think you will find that they have seperate customer service addresses.

If your debt to the bank is more than their debt to you then state what your net debt is and make token payments.

As for the rest, at this time I would just make the token payments and try to get your paperwork together for making a claim on charges once you have got the hang of it through HSBC. Yes include SOA.

You stated in your original post that you do not really have any expenes. I would suggest that you reconsider this, you still have to get about, you still have other expenses. Complete the SOA from http://www.makesenseofcards.com/soacalc.html and make sure you budget properly for everything as the key thing is to keep making these token payments so you do have to make sure that they are sustainable.

Good luck and congratulations on getting back some control!

supakid

thanks ill get this done today, i dont know how much they have charged me altogether would this mean i would have to send off for the history (and pay £10)... would i need to also give moorcroft and capquest a SOA also... as you may guess looking at the time.. im still looking at information haha, i understand what you mean by the SOA i was just in a panic i have to take in to account my orange contract & living expenses (food, petrol etc).. i can't belive how much you have helped me again i can't thank you enough i know im saying this on the internet but you have made me see a way i can deal with this...

justruth

Yes you would have to send off for the history, in my experience which was a couple of years ago, they don't tend to cash the £10 cheque. Remember that you do not need the full 6 years as you will only have been facing these charges relatively recently.

Moorcroft and capquest do also need to see the SOA. They will probably argue about it and the amount you offer but so long as you make a fair offer and keep paying it there really is not a lot that they can do about it.

There is a section somewhere on here about the contracts and if they are legally enforcable under some CCA section however I will admit to knowing nothing about this.

I'm really pleased to see that you feel more able to deal with this. The more you do and the more you learn the easier it becomes.

supakid

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 2
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 192
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 192

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 50
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 22
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 25
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 15
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 152


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
vodaphone......................489.54....10........0
argos..........................759.63....10........0
HSBC credit....................614.4.....10........0
FD Overdraft...................250.......10........0
HSBC current...................513.73....10........0
Total unsecured debts..........2627.3....50........-


Monthly Budget Summary
Total monthly income.................... 192
Expenses (including HP & secured debts). 152
Available for debt repayments........... 40
Monthly UNsecured debt repayments....... 50
Amount short for making debt repayments. -10

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,627.3
Net Assets.............................. -2,627.3

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.


hi does this look ok to send to my creditors with an offer of £10? a month till i get a job? is it ok to include hair cuts travel and food or would they see this as not important... thanks

justruth

They may try to push you for more but it looks about right to me, except that now you have a shortfall of £10 a month, so I would advise token payments of £40/5 = £8 each. Make sure you include a cheque for the £8 with the letter, and that no matter how much they argue you keep paying £8 a month. Some will accept it and some will get funny, but so long as you carry on paying it there really isn't a lot they can do about it. One or two may carry on adding interest and charges (which you can claim back and argue the legallity of) but keep making the token payments and you are fine.

supakid

ok i will amend it... yeh when i can offer more i will... would i have to send the cheque recorded every month or will the proof be when the cheque is cashed...

so heres my break down of what i have to do,send a letter to

Moorcroft- telling them to accept my offer of £8 a month. ask them to stop the interest include my SOA and a cheque, explain that i made a token payment of £50 at the expense of other creditors.

capquest- telling them to accept my offer of £8 include an SOA basicly the same as moorcroft apart from the £50 token payment

HSBC Credit card- send a letter to claim back charges and offer repayment on outstanding balance of £8 also send an SOA

HSBC current- same as the credit card.... can i claim back interest? because i have had alot of charges but intrest of 8 quid a month has mounted this debt up. i think i would need to request statements in order for me to check this out.

would i need to request to HSBC to send me my history on my current account- then make a claim then offer repayment?

thanks again!

justruth

If you send the money by BACS every month that would do just as well as then it shows on your statement. On the current account you cannot claim back the interest, but you can claim back interest added onto the unfair charges, there is a programme to work it out, but I would be prepared to drop the interest issue if they offered you the full amount excluding that.

If you do not already have the intormation regarding bank charges then yes send off for a list of charges using the letter on the main site. You have to include a cheque for £10 to cover it, but that is explained in the article.