Please help w/ debt problem...

Nargleblast

As regards the letters you have been receiving, a phone call to one of the debt counselling charities or Citizens Advice might be useful. You could also show the letters to your student counsellor - remember they are there to help struggling students because it is not in the interests of a University to let a student drop out part way through a course - high attrition rates are not good publicity! And your problem is probably quite minor compared with some students' problems, so although you are worried and feeling like a fish out of water, there are a number of resources available to you so hang in there!

Nargleblast

Just saw your last post. Does the letter say they are definitely going to take you to court or seize your belongings, or do they use terms like "MAY" "MIGHT" "COULD" etc? If the latter, then it sounds like a standard "let's frighten the pants off them" letter - and we know all about those kinds of letters, don't we folks? If anyone is taking you to court then you will receive a letter from the court advising you of the fact, so don't assume the worst just yet!

Alfred_Borden

Thanks again. Yes, my problem could be far worse but this has been going on for so long now, I'm determined to get it out the way and sort this out once and for all! Haha. This credit card debt has been hanging over me for years now, and paying it off always seemed to get washed over. Thanks for the suggestion on Citizens Advice. I won't be back to uni until early next week so maybe I should give them a call? Are their numbers landline numbers? I.E, free to call? Do you think I should call those instead of approaching Lloyds / their colicitors? They sent me a letter the Wednesday asking for the full amount by the end of the weekend. I just don't know whether to call them and say I can't pay yet. Also, the interest is going up every month as I struggle. Thank you so much again for the help.

Alfred_Borden

Sorry, just saw your last post, they say.

"It is legal requirement to send LEGAL LITIGATION before legal proceedings in the county court are issued. We believe this letter fulfils this even if it's not actually read by you.

...Payment should be submitted in full within 7 days or contact made with this office immidiately. Both our client and we do not wish to take this action but if agreement cannot be reached by 11/01/10 a claim MAY be issued by our clients solicitors without further notice.

We would draw to your attention that if judgement and an order for repayment in full is obtained and remains unpaid, the following enforcemtn options are available...."

Then they tell me about my belongings / court etc. You're right, they're using terms like may, and it doesn't look concrete, but should I contact them like they're saying I should? i'm not sure who to approach first about my repayment issues. Thanks again.

Nargleblast

Suggest you write to them saying you have severe financial difficulties at present but are taking professional advice from (name of organisation you will be contacting, eg CAB, CCCS, National Debtline, Payplan whatever....) and will contact them as soon as possible with a proposal for repayment. Then send it first class Recorded Delivery (so they can't say they never got the letter). From now on keep copies of all correspondence sent and received, and records of any telephone conversations between you and the creditors/solicitors. If it ever (unlikely, but let's say it did)got to court then this would be your evidence that you are trying to act in a responsible manner and sort out your debt. Your student union rep might be another source of advice.

Wicca303

You need to at least acknowledge the problem with them. Call them and explain your situation, tell them you are working out a plan for repatments and will contact them as soon as this plan is worked out so you can start repayments.

They might not be very nice about it but most of the country is in money worries at the moment and they should be accepting of this. They may ask you to send them a proper budget to prove you are in financial difficulties.

To fill in the SOA properly, you can just divide your rent/loan by 12 months which will give a better idea of where you stand.

Nargleblast

There are a number of very wise people on this forum who are experts in legal stuff - people like RAS, Fermi, 10past6 come to mind. Hopefully one of them might chip in with some suggestions.

RAS

OK here goes

Alfred_Borden wrote: »

The problem I have is that I'm just over £2000 in debt on a LloydsTSB Credit Card that originally had a £1500 limit.

This is from a few years ago now and the card is no longer usable as I cut it a long time ago.

I am guessing this pre-dates April 2007? have you requested the CCA?

Do you have the default and termnation letters?


It begun when I was made redundant from a job a few years back. The interest has been increasing and the little I pay off every month just gets wiped over the next, when the charges increase again.

In which case it cannt be statute barred

It's now got to the point where I'm getting letters from their solicitors (Moorcroft) demanding the payment in full or they will take me to court / take my belongings etc, and they want the full amount in the next couple of days.

Well tough luck - they cannot have what you do not have and there is no way they can actually send in the bailiffs. if they are able to get a CCJ, as long as you take advice and defend the case properly, you would probably be required to pay a fiver or less each month.

You could probably also halt the interest and charges.

I really don't know who to approach, Moorcroft.

Moocroft are the people to deal with, in your own good time.

Do you have the documents I mentioned?

Nargleblast

And RAS appears as if by magic! Take note Alfred, this one knows his stuff!

RAS

:rotfl::rotfl:Pure coincidence Nargleblast. Read to post 16 before replying.:rotfl::rotfl: