In Credit Card debt

nigelb4873

Hello Everyone, I am not sure where to start but here goes, I am in serious credit card debt, this is what I owe. Lloyds TSB 7500, Barclay Card 4500, Halifax 700, Vodafone 800 and Tesco 2700. I have been paying the minimum payment up until September last year and then I lost my job. So I couldn't pay any of them, I let them all know but this hasn't worked out as the Tesco one has now gone to a company called Triton Credit Services. I have recently managed to get hold of another job but it pays less than what I use to earn so my main priority is the mortgage and Council Tax and food for the family. I can only afford to pay these guys 10 every month. So I sent a payment off to Triton who have taken it and informed that this is all I can afford, then today I get a new letter to say that they are going to start legal proceedings against me to recover the debt. So I phoned them up and told them that I can only afford what I can pay but they said they cannot accept that and this is what they will take, 2000 to settle the debt or 100 per month which is double what Tesco where asking per month. I told them I can only afford what I can and what would they advise me to do but the women on the phone was being no help what so ever and said they will put that to their solicitors to see what they say.
I don't want to go to court and if I do then what happens? Also if you get a CCJ against your name then what happens in the case of the mortgage. I was planning to move this year sell the house and pay off my debts and start again as the job I have been offered they want me to move to north of Peterborough. Will this have serious problems in you getting a new mortgage? Can you keep your mortgage open and keep this for your new house?
I am really worried and stressed out all the time and want some serious advice on how and what to do.
Many Thanks to anyone who can help
Best Regards Nigel

LittleMissKitty

I'm afraid I can't advise re: court proceedings (don't worry, someone will!) but I suggest you post your SOA as it's the first thing everyone's going to want to see to see if they can work out any way to squirrel out some extra money from your earnings.

http://www.makesenseofcards.com/soacalc.html that's the best one to use.

Kitty x

nigelb4873

Thanks Kitty, one question what is a SOA???

LittleMissKitty

It stands for 'statement of affairs' basically it shows all your incomings and outgoings so we can see how much you're spending on stuff and help to advise if there's anywhere it looks like you could cut back.

Kitty x

LeeSouthEast

https://www.makesenseofcards.com/soacalc.html

milliemonster

Hi Nigel and welcome, as far as your mortgage goes, sometimes you can 'port' your mortgage to a new property but usually only if your mortgage product is a portable one, even then they still usually do a new credit check. You will probably find that even without getting a CCJ you will have difficulty getting a mortgage now due to the missed payments you have been making on everything over the last few months - I know you have been making small payments but your creditors will still record it as missed due to you not making the minimums each month.

You need to speak to one of the debt charities, Payplan, CCCS, they will go through your SOA and come up with a payment plan that is affordable for you, your creditors generally will accept this, even though they threaten court action etc, even if it went to court, no judge wouldask you to pay more than you can afford to pay so it most cases, these are empty threats.

If you are planning to move, have you thought about renting for a while until you get back on your feet?, esp if you are moving to a new arear that you may not know well?

JamieT1977

Do not phone them again, instead write to them. You will find they are less threatening in writing.
I would continue to make your token payments, they will (regardless of what they say in writing or on the phone) except "some" money rather than none.
I take it all your debts are unsecured??? The amounts and creditors would seem so. If so you are in charge not them, unlike a mortgage which is secured (so if you fail to pay that you would loose your house) failing to pay Vodafone for example is not going to make you loose your house,car,etc etc.
Obviously your credit rating etc will be affected by your debts.Not sure how it will affect mortgages in the future, so will not comment on that.
Triton seems like bullies (then again all DCA's are lol), refuse to speak to them on the phone, instead (as already mentioned) deal with them in writing.

Do a search for CCA Requests on here cos it might be worth taking that route, google "OFT Guidelines on Debt Collection" I am sure Triton are breaking at least one guideline . If so write to them informing them of so, and that you will report them for doing so, if they continue to phone add that they are now harassing you and will be reported for that as well. You will soon find they shut up.
Though not always the case you will find any solictors that write to you are in fact part of the same company as the DCA. If so this makes them biased, this fact could be used against them
Reference the Lloyds TSB debt unsure you have no accounts with them as they can legally take money without your permission......(this is based on your debt with them being an overdraft/credit card etc) so if you have 2 accounts with Lloyds 1 in debt 1 in credit they can legally take money out of the in credit one to pay off the other.
If you do bank with them, then move to another Abbey (now Santander) and Natwest are the easiet I have found

JamieT1977

In any token payment offers you make mention you are only able to make a monthly payment of £xx due to your circumstances changing since you orginally took out the debt, however in xx months you hope your situation will have improved (this is regarding your possible move and new higher pad job)

nigelb4873

Thanks Everyone for the advice, one question to go along with this, I am about to be offered a new job which is more money but they offering a Company Credit Card, do they carry out a search on you or do they just put your name on the card for you? I am a bit worried if they carry out a search on me????
Thanks Again Nigel

JamieT1977

interesting question, look foreward to what others say....

I would guess (and indeed this is a guess) that seeing as the card will be in their name etc then your personal credit history should not be a factor.

pure_dead_dopey

my credit is shot to sh@@ but I still am able to use my company CC so don't worry its the company who have to be dredit checked