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StepChange_Pavan

iang1878 wrote: »

hi,

equidebt have contacted me this weekend for the first time since 2009 when i sent them a statute barred letter, i havent heard from them since. they are trying to say i made a payment in 2005 and my letter was null and void.
they also said a ccj was filed against me in 2001 for it.
i was only 22 at that time so had no idea what that meant,but i know i have not made any payments on that debt since 2003 hence why i sent the statute barred letter back in 2009.

can someone please advise me on what this ccj means? its not on my credit report.
also if they are saying i paid in 2005 can i not just reissue the letter now?
i know i havent paid them and i know full well there has been no acceptance of owing the debt by myself. why have the decided 3 years later to try and force me to pay again. i'm pretty sure they did this back in 2009 which is why i sent the letter then. i havent moved address since 2005 so they cant claim they couldnt get hold of me.

help please im confused.

Hi iang1878 and welcome to the forum.

Tixy has already given you some great advice on another thread that you posted. I’d recommend that you follow this advice, but please get back in touch if you have any more questions.

Here’s the link to Tixy’s post in case you haven’t seen it: http://forums.moneysavingexpert.com/showpost.php?p=51738771&postcount=3.

Kind regards,
Pavan

StepChange_Pavan

vicxzy wrote: »

Hi,


I have been doing a DMP after advice from CCCS for the past 12 months whilst on maternity leave.
I have recently sold my house (STC) and may have a bit of money coming to me from the sale, its will only be a max of 30-40% of what I owe in total though.(a lot of the debt is charges that they added on despite agreeing to DMP)
As I've been on a DMP I have multiple defaults so know that getting a mortgage is not an option (even though I have never missed a mortgage repayment in the 12 years I've owned my own home) at the minute but would like to work towards getting one in the future.
My question is what would be the quickest route to becoming a home owner again?

A. Use the money to make lower settlement offers to my creditors then wait 6 years for the defaults to disappear & save up a 10% deposit for a house.
B. Go for an IVA & put the money from this house sale towards a larger deposit in 6 years time?

Or is there another option?
I don't know which one will leave me more likely to be accepted for a mortgage in the future?

Thank you.

Hi vicxzy and thanks for your post.

If you were to go for an IVA you wouldn’t be allowed to save the money from the sale of your house. The lump sum would be taken into consideration and could possibly be built into an IVA.

It’s important that you get some free and impartial advice on all of your options. We would need to look at your situation in a bit more detail to do this, but if you’re already a client of ours you can just give us a call and we can talk you through the solutions that are available to you. I can’t say for certain at this stage whether an IVA is the best solution for you without knowing more.

Whichever solution you opt for, it will remain on your credit file for 6 years. After this time you would then be able to look at improving your credit rating and save for a deposit.

I hope this helps, but you can give us a call if you’re unsure.

Kind regards,
Pavan

mon1o

Hi sorry to bother

My first payment into my dmp is being made on 1st April 2012. I have received letters from 2 creditors: Aqua card wont accept the dmp and Capital one have sent me letters saying they will accept but have issued notices of default on both accounts i hold with them.

Is it usual for a creditor to default from day 1? My concern is the letter they have sent says that my account may be passed to door-to-door debt collectors and i might get taken to court - the whole point of me entering into a dmp was to regain some control before the whole court scenario was likely to happen.

Im really rather concerned can anyone advise please? Also re: Aqua card - the letter from cccs said to just carry on regardless and i dont need to do anything can i just confirm this is correct?

StepChange_Pavan

rozjames1985 wrote: »

Hello

I earn £26,250.00 a year, £1628 a month after tax/NI.

I currently have a loan out with Natwest, which ends in July 2016 and am paying £344 a month and I have approx £14,500.00 left. I also have a credit card with £8,200 on it, and am paying the minimum balance of approx £190 a month off. I also have another credit card with a balance of £1200 which I pay £30 a month off. In total I pay approx. £566 off a month.

The credit card with £8,200 on it is 0% interest but that ends in May.

Should I consolidate it all onto one loan, which would be about £24,000 or should I try and move the credit card to another 0%? I currently rent and am not a homeowner and as yet do not have any kids, but hope to in the near future.

Hi rozjames1985 and welcome to the forum.

It looks like you’ve already had some really useful advice on the other threads.

Like others have mentioned, consolidation probably isn’t the answer you’re looking for. If you were to get accepted for a loan it can often make the situation worse in the long term. If you are considering consolidation you can read more about what you’d need to think about here: http://moneyaware.co.uk/2011/04/to-debt-consolidate-or-not-to-debt-consolidate/.

If you can transfer to another 0% this could be an option to reduce the mount you’re paying in interest. However a more long term solution is to look at your budget to see where you can make any changes to repay the debts quicker. You need to think about making cutbacks wherever possible and also about ways to get more money coming in. But it’s still important to make sure the budget is realistic and something you can stick to.

You’re not in a situation where you can’t afford your debts, which is really positive and it’s great that you’re taking steps now to make sure it doesn’t become unmanageable.

I hope this helps, and I’m sure you’ve already seen how supportive this forum can be in giving suggestions and helping you to become debt free.

Kind regards,
Pavan

StepChange_Pavan

Nat0273 wrote: »

Hi I contacted national debtline recently and did a financial statement which sent to all my creditors with offers of repayment and asking them to freeze interest as I really can not afford the minimum repayments,I have cut back everything I can and short of not eating this was the only solution,my worry is about my mortgage I switched to an interest only deal awhile ago while on maternity leave this will end in sept 2013,I guess I will be unlikely to get a new mortgage deal then due to defaulting agreements?
Mbna accepted my payment I offered and reduced interest to 0percent but I recently found out that this is not a formal reduced payment programme as offer is not enough to pay the account in full and they will default it after 7months of arrears-Iam going to ring them as they said they may be able to put me on a formal reduced payment programme which will prevent the account from defaulting but what is the criteria for this to be accepted?

Barclaycard have put my account on a reduced repayment plan and reduced apr to 6.9percent this is for 12months ,am I classed as defaulting for this ?

Tesco-I can not even understand there letter! It says before your offer of payment is considered a default notice will be issued,our debt recovery office will contact you with regards to your repayment proposals ,if your account is currently up to date I am unable to issue the default notice ?? What does this mean?

Not heard from the other creditors any advice greatly appreciated

Hi Nat0273 and welcome to the forum.

I’d recommend that you continue to make the payments you can afford whether they accept or reject. You can’t give them money that you haven’t got and making sure that you can eat properly is more important than making extra payments.

It sounds as though you’ve already put together a realistic budget and sent this to them so you’ve done the right thing. It’s difficult to say whether this is your best option with out knowing more information but I’m sure that NDL went through all your options with you.

It will be difficult to get a new mortgage if you’ve defaulted on your credit agreements but unfortunately there’s no way around this at the moment.

I hope this helps, but if you have any other questions please ask.

Kind regards,
Pavan

StepChange_Pavan

JoInNeedOfHelp wrote: »

Hi

I have just contacted cccs and filled out the online form. I feel sick that it has come to this and have a few issues, most of them I have found the answers here already so thanks for that.

The only other 1 I have for now is what happens if you are made redundant and your in a DMP, my husband and I both work for the same company so this is a worry, do they expect you to pay your redundancy payment to the DMP?

Hi JoInNeedOfHelp and welcome to the forum.

A DMP is an informal agreement and is flexible towards your circumstances. If you were made redundant we would look at your situation as a whole and explore the options that were available to you. We’d take into consideration that you may need some of the money to live on until you find another job – so no, it wouldn’t all need to be paid towards your debts on your DMP.

I hope this helps to put your mind at ease but you can call us if you’re unsire.

Kind regards,
Pavan

furryboo

Hello one and all,
I have been thinking long and hard about putting a message up on here and have finally had the courage to do it!

Basically, until a year ago everything was going smoothly, everything was being paid and my family was managing ok! Then just less than a year ago we were forced to move house (a smaller house so I thought the cost would be less), changed jobs and put my son into Childcare! Well everything went pair shaped from there and I bascially lost all control over our finances. We are now bascially £640 worse of than last year! I have been using payday loans to try to cover all our bills and leave us with some disposable income but things are now spiralling out of control.

I haven't missed any payments but the costs for all these payday loans are increasing! Now the other side of all of this is that a relative has offered to get a loan so I can clear all my current debts and get myself back on the straight and narrow. The problem is this relative has a poor credit rating and I cannot find a loan provider that doesn't charge a massive APR.

Can anyone offer any help us to were to go to either get a loan or get some advice?

Thank you for any help. I am really greatful.

furryboo

mum2amelie

Hi, I'm looking for some advice.

I currently have an overdraft of £3,000 with my bank which I am using in full every month, I also have a loan with my bank with a balance of £545 and a catalogue bill of around £470. I have missed payments and my credit score is at an all-time low.

I tried to obtain a consolidation loan to manage these debts more effectively (the overdraft being my main concern), however was refused - I'm guessing it was due to the high overdraft. I was told that it would be in my interest to sign up to a flexible debt management plan and to open up a new bank account to get my wages paid into. Is it really in my interests to do this? Can I not do this without entering into a debt-management program?

I only owe around £4k - if I enter into this plan, I will be paying back over £6k!

Thanks in advance,

Sam

StepChange_Pavan

mon1o wrote: »

Hi sorry to bother

My first payment into my dmp is being made on 1st April 2012. I have received letters from 2 creditors: Aqua card wont accept the dmp and Capital one have sent me letters saying they will accept but have issued notices of default on both accounts i hold with them.

Is it usual for a creditor to default from day 1? My concern is the letter they have sent says that my account may be passed to door-to-door debt collectors and i might get taken to court - the whole point of me entering into a dmp was to regain some control before the whole court scenario was likely to happen.

Im really rather concerned can anyone advise please? Also re: Aqua card - the letter from cccs said to just carry on regardless and i dont need to do anything can i just confirm this is correct?

Hi mon1o and thanks for your post.

A DMP isn’t a legally binding solution so your creditors can still follow the standard collections procedure: http://www.cccs.co.uk/InfoCentre/EnglandandWales/Creditoraction/Debtcollectionprocess.aspx.

Whether your creditors accept or reject the DMP, we recommend that you carry on making the payments regardless. You’ve done the right thing by offering them a realistic payment and already worked out that this is as much as you can afford.

If you’re unsure of anything or need to go through anything in more detail, please just give us a call.

Kind regards,
Pavan


P.S. you're not bothering us - that's what we're here for

StepChange_Pavan

furryboo wrote: »

Hello one and all,
I have been thinking long and hard about putting a message up on here and have finally had the courage to do it!

Basically, until a year ago everything was going smoothly, everything was being paid and my family was managing ok! Then just less than a year ago we were forced to move house (a smaller house so I thought the cost would be less), changed jobs and put my son into Childcare! Well everything went pair shaped from there and I bascially lost all control over our finances. We are now bascially £640 worse of than last year! I have been using payday loans to try to cover all our bills and leave us with some disposable income but things are now spiralling out of control.

I haven't missed any payments but the costs for all these payday loans are increasing! Now the other side of all of this is that a relative has offered to get a loan so I can clear all my current debts and get myself back on the straight and narrow. The problem is this relative has a poor credit rating and I cannot find a loan provider that doesn't charge a massive APR.

Can anyone offer any help us to were to go to either get a loan or get some advice?

Thank you for any help. I am really greatful.

furryboo

Hi furryboo and well done on plucking up the courage to post.

We don’t usually recommend consolidating loans as it can make the situation worse in the long term. On top of this, if your circumstances change again you may be jeopardising your relative’s situation too as they will be liable for any payments you might miss or fall behind on.

If you’d like some free and impartial advice on the solutions that are available to you, you can visit our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu).

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, it’s best to gather together information about:
• Your income
• Your expenditure
• The creditors you owe money to

You’ll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If you’re not confident with computers or would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

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,
Pavan