Struggling with debt? Ask a debt advisor a question

jules80_2

Hi wonder if anyone can help. in a nut shell me and the ex hubby have mortgage (i live in the house and pay mortgage solely and all bills) we have a secured loan which runs another 9 years. ( cant get ex off mortgage coz of the secured loan) up until last month ex was giving me half his share of the loan payment and then dropped me in it big style. I cant afford to make the full payment of £581 a month so now missed the payment. And the phone calls and letters have started and true to form ex is avoiding my calls like the plague. Im debating doing a DMP for my unsecured debt which is approx 6000 as for the secured loan any ideas? i dont want to be left dealing with them on my own. what i really want is to hand back the house as although never missed mortgage payment the secured loan has us in negative equity and im basically trapped. Any one been in similar situation, im stressed and depressed while the ex doesnt give two hoots!!!

System

jim_smith wrote: »

i have had a lot of debts in the past, with divorce etc i have ignored them for years, last year i lost my job and was heading further down the spiral

Luckily i got a job abroad and now have paid all of my £100k debts off, credit cards loans and mortgage and utilities arrears taken me a year

I have collected black marks etc against my name, what is the best way to have them all cleared


thanks


jim

Hi Jim and thanks for your post.

This link should explain everything you need to know.

I hope this helps.

Kind regards,

Mat

System

jules80 wrote: »

Hi wonder if anyone can help. in a nut shell me and the ex hubby have mortgage (i live in the house and pay mortgage solely and all bills) we have a secured loan which runs another 9 years. ( cant get ex off mortgage coz of the secured loan) up until last month ex was giving me half his share of the loan payment and then dropped me in it big style. I cant afford to make the full payment of £581 a month so now missed the payment. And the phone calls and letters have started and true to form ex is avoiding my calls like the plague. Im debating doing a DMP for my unsecured debt which is approx 6000 as for the secured loan any ideas? i dont want to be left dealing with them on my own. what i really want is to hand back the house as although never missed mortgage payment the secured loan has us in negative equity and im basically trapped. Any one been in similar situation, im stressed and depressed while the ex doesnt give two hoots!!!

Hi Jules80 and welcome to the forum.

It sounds like you would benefit from some free and impartial advice.

As your situation is complex I recommend that you give us a call on our free Helpline number on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

You would need to gather details of your income and expenditure first.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps.

Kind regards,
Mat

Clairebear56

Hi there

I am being chased for a debt that was paid in full and final settlement in 2005 or 2006. I have moved several times since then and no longer have the letter showing that the company accepted a full and final payment.

The debt collectors want £125 - the balance outstanding - but I don't see why I should pay this when the original company agreed to settle.

Also, although I can't remember the date we settled, surely this debt should not be chased after 6 years? I have not responded to any of the debt collectors letters so I haven't made contact with them. They have sent me a letter on average every month for the last year or so.

What should I do? Should I contact them and ask them to prove that I owe the debt? Or should I just continue to ignore the letters? Do I have to pay this debt?

Thanks

Clairebear

System

Clairebear56 wrote: »

Hi there

I am being chased for a debt that was paid in full and final settlement in 2005 or 2006. I have moved several times since then and no longer have the letter showing that the company accepted a full and final payment.

The debt collectors want £125 - the balance outstanding - but I don't see why I should pay this when the original company agreed to settle.

Also, although I can't remember the date we settled, surely this debt should not be chased after 6 years? I have not responded to any of the debt collectors letters so I haven't made contact with them. They have sent me a letter on average every month for the last year or so.

What should I do? Should I contact them and ask them to prove that I owe the debt? Or should I just continue to ignore the letters? Do I have to pay this debt?

Thanks

Clairebear

Hi Clairebear and welcome to the forum.

When making a reduced payment to a creditor for full and final satisfaction of a debt you would need to have this confirmed in writing from the creditor (which you said you did). You also need to keep hold of this letter as proof the creditors agreed to this should they come back in future and try and chase the remaining amounts.

However, creditors are unable to legally pursue you for the debt if, after six years;

• The creditor has not already obtained a county court judgment (CCJ)

• You or any one else owing the money (on a debt in joint names) have not made a payment

• You have not written to the creditor admitting you owe the debt

This is known as statute barred and refers to the Limitation Act.
If you believe that the creditor is timed out to collect the debt, you may wish to use the template letter below.

Example letter – limitations act

From:
Name:
Address:
Postcode:
Date:
CCCS Client No:
To:
Creditor’s Name:
Account/Agreement No:

Without Prejudice

Dear Sirs
Ref
I do not admit any liability for your claim and will not be making any payment towards it, as it is now more than six-years since any cause of action may have accrued. Any claim would, therefore, appear to be statute barred under section 5 of The Limitations Act 1980 and any court claim will be defended on that basis.
In addition section 2.14 of The Office of Fair Trading Collection guidance states that it is unfair to pursue such claims where, as here, the creditor has made no contact during the relevant limitation period.
If, however, you have substantive evidence that your claim is not statute barred then please supply it to me within 21 days. If you are unable to provide such evidence please confirm that no further action will be taken against me.
Yours faithfully
(Signature)
(Print name)
I hope this helps.
Kind regards,
Mat

wolves062347

Hi, i am really struggling with creation financial services/Sygma bank and have been advised to send a second letter before i go to the financial ombusman. My debt is nearly £8000 and at the rate they are charging me i will never clear it, do you think this letter is suitable

I am writing to complain to you with regards to a number of issues with my above account particularly concerning the extremely unfair interest and charges you apply.

You have recently written back to my letter dated 18th June 2011 and I have quoted your reference above. However I still feel you have not resolved this issue in full and you have not understood my letter properly, so I have outlined again my main complaints;

1) I have paid you £1310.81 since September 2009 and yet my debt with you has actually INCREASED considerably.

2) On your statement dated 7th June 2011 you have charged me £209.70 in a single month against my usual payment of £72.31.

3) I still feel your monthly interest of £57.44 against my payment of £72.31 is hindering my ability to clear the debt.

4) Every other company on my debt management plan has frozen interest to help assist me to pay the debt off. Please could you do the same for me?

5) I genuinely believe that your interests and charges are extremely unfair and as a consequence are clearly hindering my ability to pay this debt off

I would really appreciate a clearer response to the above.

Continued on page 2




I understand and that you must send a written acknowledgement of my complaint within 5 business days of its receipt. If you are unable to resolve my complaint within 4 weeks you must send a holding response, explaining the reasons why and indicating when you will make further contact.

If you fail to resolve my complaint within 8 weeks, or if matters are not settled to my satisfaction, I will have no alternative but to escalate my complaint to the Financial Ombudsman Service.

Obviously, on my part I will continue to make my monthly payments from CCCS.

I look forward to your reply.




any help would be appreciated as they are really stressing me out now. My 7 year plan will end up being 70 years at this rate.

James1965

Hi I would really appreciate some advice. I'm struggling with debt and whilst I havn't fallen into arrears on anything yet the time will come. I owe about £65k on loans & credit cards. I have a £730k mortgage (interest only) on a house worth in the region of £1.6m with 18 years to run. My situation has arisen because my income has fallen by about 50% and I now earn in the region of £100k. My house is on the market but there is little movement and I know if I did a firesell of the property it would go but it pains me to do so. Would it be wise to speak to my mortgage company to see if I could get a further advance to pay of my unsecured loans like credit cards or will they simply tell me to go away as my salary isn't what it used to be? My min payments on all cards & loans is in the region of £1500 pm and if I could cut this I should be in a position to carry on fine. All advice is welcome.

Thanks

Hippychick2007

Hi,

with a combination of 'my own fault' and 'no more tax credits' I have found myself in an exhaustable situation, I have only missed one payment on one debt so far, I have also opted out of work pension

Income £1348 p. m (total)

Ougoings (p.m)
£370 rent month (dont own any property)
£102 council tax
£45 water utilities
£40 gas
£40 electric
£32 sky (lowest package)
£65 car ins (looking at downgrading car - no finance on it, old alfa romeo)
£22 House ins
£30 Mobile Phone
£25 Mobile Phone (old number still paying until May 2012)
£327 RBS Loan (has 5 yrs 3 mths remaining)
£58 Catalogue bill (balance to pay £1750)
£18 Credit Card (balance to pay £480)
£40 Store Card (balance to pay £400)
£50 Petrol

Balance of £84 without any food, car repairs, TV licence and also have £286 cat/Store card (not made any payments yet on this balance)

Really scared to enter into a DMP, also wonder if its worthwhile, at the moment, I have not missed any payments but can clearly see that it is only a matter of time.

My daughter, who I got tax creds for, now has a small part time job, not enough to give me any keep, although she has been buying odd bits of food for us.

Best suggestions please? any help much appreciated!
P.S. I work in Local Government, so not sure Bankrupcy would affect my job?

Thank you

trythisname

Hello & thanks for your help in advance

9 months ago I got taken of benefits & have been living ruff & supporting myself ever since.

Now 9 months later out the blue ?? I get 3 letters to my parents house, 1 from council tax, outstanding benefit loan & overpayment of rent, all from when I was on benefits 9 months ago & they want £3000 NOW

I do not work or get benefits at this time so can not pay them, they are sending letters to my parents saying they are coming to take goods.

I have been told that if im not on the electrol roll no one can come for goods if I dont live there?? also that I do not have to pay if im not on a electrol roll..

what can I do? I have no money & they say they are coming to my parents.

bisselljk1986

Hi,

I am currently on a DMP with CCCS and before I go on I must say they have always been extremely helpful and understanding. Whoever I have spoken to has genuinely showed that they wanted to help!

I am in a predicament with the amount I am paying on my DMP. I have always tried to keep the payments as high as possible so the debt can be cleared before my children reach an age where it will really affect them. Until now I have managed without the use of a car as I live relatively close to my work and have gotten used to the walk (it counts as my daily exercise!). Although after a meeting this morning I have been told I will need to frequent our London office (I'm based in Birmingham) once a week. I am not 'important' enough to be given a company car and they don't provide pool cars any more. I've been told I can use my own car and claim the mileage back or rely on public transport and do the same.

Using public transport to get to London so early is pretty much Mission Impossible so I am going to need to get myself a little car (I'm going to need one when the new baby comes along anyway actually). I've done some quotes and as I have zero no-claims the insurance is extortionate!

This is going to almost completely wipe out my extra finances for the next year meaning I'd have to adjust my payments to survive. I doubt my creditors will agree to go from over £100 a month between them to practically nothing.

I'm scared I might end up bankrupt - all for the sake of a car! I've done some quotes and the only cars I could afford the insurance on are tiny little fiats etc which is going to be difficult enough as I'm over 6 foot tall!

Please help!!!!!