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pentacle2008

hi guys

new on hear so bear with me,

i just checked my credit file and found that a debt collection agency has put a default onto my credit file,

what i need to know is:

are they alowed to do this because i never defaultd with them it
was with the credit card company they bought the debt from in witch i defaulted

ive been doing some rsearch on the net this evening and discovered that when i signed the credit agreement i gave capital one permision to update the credit file as needed, now does this same concent applly to the debt collection agency also?

also on the credit file it says that the debt collection agencie are the lenders but again i did not take out credit card with LOWEL the collection firm it was with Capital one

with this do you think that it is possible to have this default removed???

any help would be greatly apresiated

ben

debtqueen

I am currently going through a redetermination of a CCJ that was issued last year (by MBNA). The hearing was transferred to a County Court local to me and late last year I received a Notice of Hearing of my application for redetermination. Do I need to attend this hearing? I did contact the agency (a non-profit charity) that are dealing with my creditors a couple of weeks ago by letter to ask the same question and to send them copies of the documents for their files. Unfortunately I heard nothing from them, so phoned earlier this week to be told that the people dealing with my case won't be back in the office until tomorrow - the date of the hearing. I'd prefer not to go as there is nothing further that I can add to the financial documents that were sent to the court.

SIRENS

Hi
Thanks for your previous help, I just have a couple of questions regarding my husbands debt.
We have sent token letters to his creditors as suggested in our cccs booklet, but have, as yet not heard anything from any of them, do we go ahead with the token payment, or our usual minimum payment?

Also I work for one of the companies that my husband has a debt with, do I need to notify them? (It is a bank). The debt is not in joint names but I'm concerned this will effect my accounts which are just in my name?

Thanks so much

carlos10

Do debt collection companies often wait until just prior to a debt being statute barred (mine are 5 1/2 years old) before getting a CCJ? - guess work maybe but if you have any knowledge or experience about this i would be greatful of a reply...I now need to decide bankruptcy or to pay off a tax debt i cant avoid and if i get another CCJ i would go beankrupt, so it then wouldnt be worth me paying the tax debt. ty, Carlos.

kell1

Hello!

Me and hubby are just in he process of looking into an IVA - we are currently speaking to the CAB. We live in a 2 bedroom terrace and have 2 children (4+2) who are a boy and a girl. Obviously we need to move to a 3 bedroom accommodation. Our only option will be to rent our current property out and move ourselves into bigger rented accommodation - this is because we cant get another mortgage and we cant sell the house!

My question is this:

Should we do this BEFORE we go into an IVA or not??

Our mortgage is only £415 per month but if we were to rent a bigger accommodation it would cost approx £150 - 250 per month more.

Any advice would be helpful x

k_moor25

Dear Paven

Im still waiting on capital one to send me a statment of my debt, but still no sign of them sending me anything. I was wondering if im able to take capital one of my plan and add it back on my plan when I have sorted getting a statment from them

StepChange_Pavan

Milltowngirl wrote: »

Hello Sue

Thankyou for your post. Well, I took the plunge last night and told my partner everything. He was very shocked and a little angry but he has agreed to help sort things out. We have a joint account which we both pay into to cover the joint mortgage, personal loan and all the house bills, but then all our other money is seperate. He has no other debt, except a HP on a motorcycle which is due to be paid up in August. So he is going to increase his payment into the joint account to allow me to decrease mine, so I can concentrate on tackling the credit card debts. Im also going to look for a second job, sell some stuff we dont need on ebay and he may also sell the motorcycle come september as it was a luxury more than a necessity. We're cutting back on our non essential bills like sky, magazine subscriptions etc and reducing our food spend. We are hoping that by September when this HP agreement finishes plus when Im hoping to have had a small salary increase come through, to be able to throw an extra £500-£750 a month at the cards and finally start paying the balances down. So, thankfully, I dont think a DMP will be needed at this stage.
I dont feel like all the weight is off my shoulders yet but can finally see a small light at the end of the tunnel. Im aiming to be debt free (unsecured; the mortgage might take a little longer!) within the next 2-3 years.

One last question I wanted to ask; what do you think are the chances of virgin/mbna and lloydstsb freezing or reducing my interest rates to help me pay the balances down quicker ? If I explain the circumstances i.e. struggling to make anything above minimum payment, dont want a DMP if can help it, am seeking additional employment / help from partner to clear debts, do you think there is any chance they would reduce the rates if I agree to close the accounts ? Theyve been hiked up to the 20%+ range over the last few years and obviously if I could reduce these rates then we'd make inroads on the balances a lot quicker.

Many Thanks

Hi Milltowngirl and thanks for your post.

I’m really glad that you’ve managed to sit down with your partner and work out a resolution.

Unfortunately with regards to your creditors freezing the interest there are no guarantees. By all means you could contact them and ask for their understanding but as you agreed to these charges when you signed the agreements they have the right to continue charging you these amounts.

Good luck with reducing your debts and 2 to 3 years is a really reasonable timescale for you to become debt free.

Kind regards,
Pavan

CCCS_Sue

mikon wrote: »

Hi everyone,

I have been on a DMP with CCCS since last June. We have worked well with CCCS and kept in regular contact with our creditors and the majority have stopped interest and the remaining 2 have reduced interest charges. We are now finding it very difficult to manange on the money we have left at the end of each month after our DMP payment has been made.

We are considering going back to CCCS and asking for a review to reduce the monthly payment due to increase in cost of living and my job location has moved so i incur higher monthly petrol costs and also parking fees, our monthly food bill has increased.

My two questions are :

How would CCCS view me reducing the monthly payment to creditors?

How would the creditors view the reduction? Will they re-instate interest charges and start the phone calls again. They have been very quiet and that has been good I don't want to start being pestered by calls etc. But we are struggling at the end of each month.

Has anyone reduced their monthly payment and what advice can anyone give me?
Thank you

Hi mikon and thank you for your message


It's great that your DMP is going well.


If you have had changes to your circumstances then I would recommend that you call us for a review of your DMP, especially if you are starting to struggle.

The interest and charges would be at the creditor’s discretion and would depend on the changes to your budget.

Kind Regards
Sue

StepChange_Pavan

johnnymac93 wrote: »

Hi,

My wife has racked up a debt of around £18000 (credit cards and a loan) over the past few years and is now really making an effort to get it sorted.
Ideally she would like to get one loan to cover all her debts as her friend has done so recently and says it's been a god send as she is finally getting her interest paid off and debt reduced.
Unfortunately my wife doesn't own a property and so is unable to find a lender who will give her such a big loan (she did try using the loan advice section from MSE).
What's the best thing to do in order to get this sorted.
She does have a decent credit rating having never defaulted on payments.

Hi Jonnymac93 and thanks for your post.

Is your wife able to meet the minimum payments or is she struggling? We can advise on her options if she can’t make her current repayments but if this is the case, her credit rating will be affected.

Alternatively she could look at ways to improve her situation so that she is able to pay more towards her debts and clear them quicker. To do this she could either look at reducing her expenditure or maximising her income.

If she would like us to look at her situation she can either our online advice facility Debt Remedy, or ring our free Helpline to book a telephone appointment with a counsellor.

Hope this helps.

Kind regards,
Pavan

CCCS_Sue

Dorsetdave wrote: »

Still not 100% to set up CCCS DMP. Waiting for a few statements. 2 are with Northern Rock. They ignored my requests and I've now got a letter from 1st Cretins (only for one of the loans though).
Is it worth sending them your "I'm entering a DMP.." letter? Technically I don't suppose I am at the moment.
Alternately I don't want to be accused of not communicating with them and judging from some other posts they are amongst the worst to deal with!
Is it worth mentioning the 2nd loan in any letter? It may be wishful thinking but could they loose the details? Northern Rock only ever chased me for the one loan account, and they're both in default.
I don't want to shoot myself in the foot and "Tip" them off!
Any advice appreciated.

Hi Dorsetdaveand thank you for your message

You should send all your creditors our template letter to advise them that you are waiting to go on a DMP. If you have not paid them anything this month, then you could offer them a token payment you can realistically afford.
All debts should be included on your DMP so you do need to mention the 2nd loan.

Kind Regards
Sue