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dgb72

Hi

Just received a letter from credit collections (UK) ltd stating:
Ref National Bank Of Kuwait Account *** Amount due £3,323,83

The above is overdue for settlement and payment is now required within 4 days....

I left Kuwait just under 4 years ago, at the time i settled a loan, my balance in account was 0 & i had and my credit card which was 0..... i then used my credit card for flights etc, i was not sure how much this was in total... a few month later i called the bank and asked them how to pay it off, they told me my account had been stopped and i needed to go into bank... as i was in UK this was not possible.. they then told me my account was closed.... i did not hear anything until today!

Not sure what the best course of action... i certainly cannot afford to pay the £3k?

Some advice please would be appreciated.

StepChange_Pavan

so84 wrote: »

Hi There

I wonder if you can help me.

I have started a DMP with Halifax, well i read on here you can write to your creditors get your interest frozen and pay small amounts till you were back above water.....

Well now I have been asked at work to sign the fit and proper FSA papers and it says I hve to declare if im in any payment plans with any creditors..... well its not an offical dmp and its not an IVA but will def show on my credit file. Should i just tell my compliance and see what they say?! can they sack me? I pay all my creditors on time and will be nearly debt free hopefully in about 20 months apart from a few cards.

Help

Hi So84 and thanks for your post.

You don’t mention where you work, but if you’re required to sign something it’s best to be honest as they could credit check you anyway. It’s difficult to say what the consequences might be so I’d recommend that you check the terms of your employment. You could speak to HR in confidence if you’re unsure.

A DMP just means you’re making reduced payments through a third party, so although you’re not using anyone to administer the payments for you, any late/missed payments and defaults etc will show up on your credit file.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

tbhull wrote: »

Hi, I'm hoping someone may be able to offer some advice. My wife has got Debts of around £12,500 and has no income other than mine and small benefits. As far as I know we are not financially linked so what options does my Wife have to clear this? The debt is due next week. I believe the debt will qualify for a debt relief order but will that affect me financially as well? I've explored the possibility of a loan but having already taken one out recently to restructure my own finances I cannot get another one to help her out.

Hi tbhull and thanks for your post.

It’s difficult to say what options she has without looking at her situation in more detail. A DRO wouldn’t affect you if you’re not financially linked but there is set criteria that she would need to fulfil in order to qualify for a DRO.

I’d recommend that your wife gets in touch with us so that we can look at her circumstances and explore all of the solutions that might be available to her. If she’d prefer for you to speak to us on her behalf, we would need her permission first.

Kind regards,
Pavan

StepChange_Pavan

Ldot1981 wrote: »

Hi

I have just completed an online cccs debt remedy questionnaire and have been advised I should go forward with a DMP to help clear my debts at a more realistic rate as currently some are being paid and others aren't.

Can you tell me whether I can include Payday Loans on a dmp? I'm worried that they will have some ready prepared loop hole which will exclude them from a DMP in which case I am no better off.

Also if I went ahead with the DMP would I need to change banks completely? I don't owe my current bank any money but I would need a new bank account. Could I not just ask my bank to close my current account and set me up a new one?

Thanks

Hi Ldot1981 and welcome to the forum.

I can see that Fermi has already answered all your questions. He’s right that you can include payday loans on a DMP and he’s also explained why you would need to open up a new basic bank account.

I hope this clarifies everything and you can just give us a call to add any debts that were missed off your initial Debt Remedy.

Kind regards,
Pavan

StepChange_Pavan

dgb72 wrote: »

Hi

Just received a letter from credit collections (UK) ltd stating:
Ref National Bank Of Kuwait Account *** Amount due £3,323,83

The above is overdue for settlement and payment is now required within 4 days....

I left Kuwait just under 4 years ago, at the time i settled a loan, my balance in account was 0 & i had and my credit card which was 0..... i then used my credit card for flights etc, i was not sure how much this was in total... a few month later i called the bank and asked them how to pay it off, they told me my account had been stopped and i needed to go into bank... as i was in UK this was not possible.. they then told me my account was closed.... i did not hear anything until today!

Not sure what the best course of action... i certainly cannot afford to pay the £3k?

Some advice please would be appreciated.

Hi dgb72 and welcome to the forum.

Unfortunately, we can only advise on UK based debts as the law differs in other countries. You would need to seek advice from an agency based in Kuwait.

Kind regards,
Pavan

MiaowMiaow

Thanks in advance for any advice

I currently have a joint mortgage with my brother. He is saving to buy a house with his girlfriend.

I think they will probably be looking to get somewhere in about 12 months.

This leaves me with wondering what to do?

My mortgage is for 140k (last statement i think it ws about 136k)

I earn approx 32k pa

I have a lodger £350/mth

With my income and the rent from lodger I can afford the mortgage (I couldnt without lodger due to my debt)

I am looking to switch to single mortgage, would I have to start a completely new application?? or would my existing lending (coventry building society) review my mortgage?

I am so worried I wont be able to get a mortgage and will lose the house. I had in on the market for a year but there is no way it will sell without me losing about 20k on the house which there is no way i can afford to do.

My debts are currently 15.8k

I have never missed a payment on my mortgage but my credit rating is poor at the moment.

I am really not sure what to do.


I checked my credit rating on experian this morning and it is actually good/excellent (i know lenders rely on more than this).

mummynikki

I run my own buisness that has struggled with the ression.
I am a company director
my own debts are now at £25000 and as i am struggling to take a wage have maxed out credit cards to the sum above.
Each month my dd for cards are now bouncing encuring late fees over limit fees and interest then bank fees for unpaid dds.
Help where do i turn for help i dont want to go bankrupt as i wont then keep my buisness.
Not sleeping with the worry and not picking up calls from credit card firms.:(

mummynikki

I run my own buisness that has struggled with the ression.
I am a company director
my own debts are now at £25000 and as i am struggling to take a wage have maxed out credit cards to the sum above.
Each month my dd for cards are now bouncing encuring late fees over limit fees and interest then bank fees for unpaid dds.
Help where do i turn for help i dont want to go bankrupt as i wont then keep my buisness.
Not sleeping with the worry and not picking up calls from credit card firms.:(

Dawnie_Donut

Hello All

I have received MSE.com for some time and used some of the tips, but now, I need debt advice. I've been a plank and for the first time in my life, I need help.

Last year, we had some work done on the house so I borrowed for that - no problem. I then had to borrow in addition to that - no problem. I've also got a car loan - also no real problem. Separate loan for a laser eye operation - no problem 0%. My problem is that I have run up a debt on my credit card. Actually, I have maxed it out at £10k.

I have managed to transfer £2k of this to other cards on balance transfer arrangements and will pay these off monthly. This leaves me with about £8k on my card.

I understand that there are others on this forum who have much larger debts than me and I know some have successfully got themselves debt free - that is my goal. But in the meantime, I am struggling to pay off anymore than the minimum monthly amount on the card so I am getting nowhere.

What I would like to do is to take out a loan to cover this debt so that I can pay it off at a lower rate of interest - is this is good idea?

Also, my credit rating is not good - so where could I go for a loan?

Any advice would be appreciated. Two of the loans mentioned above complete it April 2014 so this will put an additional £260 into my bank account which I will use to up payments on other loans. (Please note, the reason I have put 'no problem' next to the loan info, is that I can service these).

Thanks for reading so far - sorry, this all sounds a bit wingy.

Dawnie_Donut

sorry, I think I may have hijacked someones thread. I didn't mean this as a reply to somebody's prpblems

Dawnie