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StepChange_Pavan

curious39 wrote: »

Hi Charlie, good question ! good question ! mine are listed as "satisfied" or "settled"
but
some were *settled* at a reduced rate, and others in full years ago.

The only remaining one that is still unpaid is listed as "default".

and "normal" stands for the current and active accounts.

I have been told usually default stays on file for 6 years anyway.. but is it 6 years from the day it has turned into a "default" or from the day it has been "satisfied" and, is there a difference between "settled" and "satisfied" in practice?

I can see on my report from ID Aware, that, the term "settled" has also been used for other cards that has not defaulted, and for the mobile phone account that hasn't been in areas and used for the store card that is basically settled in court and paid off with all the fees.
The term "satisfied" is for the satisfied debt collectors. (btw i sorted my great mess out without dro or iva or any equivalent)

Thank you for raising this issue, I too would like know when will be the day, that, when with proper financial attitude and behaviour from now on my part, and, the paid off last creditor, also B.O.S. for £8,000, I will be able to get the 0% credit again. Will it happen in my lifetime?

And good to know that BOS is willing to accept offers ! - this is my remaining debt for similar amount to yours - £8,000 from the same collector.

Hi curious39 and thanks for your post.

I checked with the experts at Experian to make sure this is the correct answer:

They both essentially mean the same thing – the outstanding balance is nil and the account is closed with that provider.

The term ‘satisfied’ is used to show a cleared default and ‘settled’ shows a cleared non-default. Defaults stay on a report for six years from the default date and non-defaults stay for six years from the settlement date.

I hope this clarifies things for you.

Kind regards,
Pavan

StepChange_Pavan

lap1970 wrote: »

Hi - I would like to know if you creditors are required by law to issue you with a yearly statement of your account which shows any payments you have made and any charges they have added? I have been on a reduced payment plan for around 6 years now and although some do this (Aktiv Kapital, Paragon Finance) others do not (Morton Fraser Solicitors for Nationwide Building Society), Wescot Finance (for Provident) and MacKenzie Hall (for Littlewoods Catalogue). The ones that do send them always give me a letter saying that they are required to do this. Does this mean that these other companies are breaking the law by not keeping me up to date with statements?

Hi lap1970 and thanks for your post.

I’d recommend that you check your initial terms and conditions to clarify this, although it sounds as though you might have defaulted against them so this would break the agreement you had.

If you request statements they would be required by law to send you them. You could put this in writing to them and I’d recommend that you follow their complaints procedure if they don’t respond.

I hope this helps.

Kind regards,
Pavan

DotNetter

My wife and I have been on a CCCS DMP for around 2 years.

In that time our main family car (a T Reg Vauxhall Zafira) has had numerous serious problems requiring a lot of money spent on it to keep it running.

We never seem to be in a position to be able to save for long enough to get enough money for another car that will a) be practical given 3 kids and b) that won't end up costing us more money.

We've put up with the Zafira as I'm a believer of the better-the-devil-you know - I don't want to go and spend £500 - £1000 on something else that is likely to go wrong.

So, my question is this - if I can get my mother to act as a gaurantee for a HPI/Lease on a new car, would we be allowed to do this?

My reasong for this is that I have looked about and can apparently 'lease' a Citroen C4 for £199 a month which means a set monthly price with no real concerns as it'll have a warranty.

I appreciate that even people who aren't on a DMP can't afford the luxury of a new car however I don't know what to do. yesterday my car failed (it cost me £250 to buy it 8 months ago) and today my wifes car started making a terrible noise which the garage tell me looks to be a combination of a stuck caliper and failed bearing - ie an expensive bill!

I just feel like I'm throwing good money after bad and never actually having a reliable car.

Suggestions welcome from anyone re this situation.

fyi - we live in a rural location with no public transport and we both work so require 2 cars.

Cheers,

wayne

StepChange_Pavan

DotNetter wrote: »

My wife and I have been on a CCCS DMP for around 2 years.

In that time our main family car (a T Reg Vauxhall Zafira) has had numerous serious problems requiring a lot of money spent on it to keep it running.

We never seem to be in a position to be able to save for long enough to get enough money for another car that will a) be practical given 3 kids and b) that won't end up costing us more money.

We've put up with the Zafira as I'm a believer of the better-the-devil-you know - I don't want to go and spend £500 - £1000 on something else that is likely to go wrong.

So, my question is this - if I can get my mother to act as a gaurantee for a HPI/Lease on a new car, would we be allowed to do this?

My reasong for this is that I have looked about and can apparently 'lease' a Citroen C4 for £199 a month which means a set monthly price with no real concerns as it'll have a warranty.

I appreciate that even people who aren't on a DMP can't afford the luxury of a new car however I don't know what to do. yesterday my car failed (it cost me £250 to buy it 8 months ago) and today my wifes car started making a terrible noise which the garage tell me looks to be a combination of a stuck caliper and failed bearing - ie an expensive bill!

I just feel like I'm throwing good money after bad and never actually having a reliable car.

Suggestions welcome from anyone re this situation.

fyi - we live in a rural location with no public transport and we both work so require 2 cars.

Cheers,

wayne

Hi Wayne and thanks for your post.

This could be an option provided that you can comfortably afford the monthly amount. I’d really recommend that you call our support team so that we can discuss your situation in a bit more detail and make sure that any budget changes wouldn’t affect your solution.

Kind regards,
Pavan

dorsey36

DG Solicitors

I received a letter from DG solicitors who are acting on behalf of Marks & spencers Financial services for an outstanding cc balance of £4055.10.
i had originally agreed to pay £25 a month directly with M&S but i had insufficient funds one month and the dd did not go out.M&S wrote to me telling me the agreement is no longer. i am self employed and my work has halved. im struggling to keep my family going.
please can i have some advise. i want to write to them and come up with another payment plan as before but will they just ignore me and demand i pay in full? or will they send me to court? i just havent got the money. i feel that im robbing peter to pay paul.

kindest
dorsey

System

dorsey36 wrote: »

DG Solicitors

I received a letter from DG solicitors who are acting on behalf of Marks & spencers Financial services for an outstanding cc balance of £4055.10.
i had originally agreed to pay £25 a month directly with M&S but i had insufficient funds one month and the dd did not go out.M&S wrote to me telling me the agreement is no longer. i am self employed and my work has halved. im struggling to keep my family going.
please can i have some advise. i want to write to them and come up with another payment plan as before but will they just ignore me and demand i pay in full? or will they send me to court? i just havent got the money. i feel that im robbing peter to pay paul.

kindest
dorsey

Hi Dorsey and thanks for your message.

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

The first step is to put together an accurate income and expenditure budget, as you suggest you can’t continue robbing Peter to pay Paul and you must only agree to repay an amount that you can reasonably afford.

I’d recommend that you use our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

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.

You’ve taken the first step to sorting out your money worries and we can support you with free and impartial advice along the way.

I hope this helps.

Kind regards,

Mat

beckie_s

Hi.. im new to all this.. i have recieved a letter this morning from a debt collecting agency for a loan i took out with my soon to be ex husband asking me for all the money.. the loan was taken out 5 years ago and a repayment was made for maybe 2 months before i lost my job and my husband refused to pay the repayments.. i have since left the house we shared and taken our son with me.. does the 6 year rule apply where after 6 years the debts are so called wiped.. please help i have just found out i am pregnant again with my new partners baby and really dont need the stress

thegosu

Hi i'm unemployed and I have £3500 pounds of debt on CC's, I was just wondering if I could get a balance transfer and who is the best person to go with? I have signed up with Credit expert to get a view on my credit rating which is "fair" atm, i'm just not sure if it is possible to get a 3rd credit card without having a job. Thx for any help.

System

beckie_s wrote: »

Hi.. im new to all this.. i have recieved a letter this morning from a debt collecting agency for a loan i took out with my soon to be ex husband asking me for all the money.. the loan was taken out 5 years ago and a repayment was made for maybe 2 months before i lost my job and my husband refused to pay the repayments.. i have since left the house we shared and taken our son with me.. does the 6 year rule apply where after 6 years the debts are so called wiped.. please help i have just found out i am pregnant again with my new partners baby and really dont need the stress

Hi and welcome to the forum.

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

I think you mean statute barred which refers to the Limitations Act.

For this debt to be statute barred you and your partner would have to have not made any payments for six years or acknowledged that you owe the debt. You can read more about the Limitations act here –

http://moneyaware.co.uk/2011/08/your-debts-written-off-is-it-too-good-to-be-true/

As the debt is in joint names both you and your ex partner are jointly liable for the debt. You can read more about this here –

http://moneyaware.co.uk/2011/09/we-got-a-joint-loan-now-weve-split-who-has-to-pay/

I’d recommend that you gather details of your income, expenditure and debt and use our online counselling service Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

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.

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,

Mat

System

thegosu wrote: »

Hi i'm unemployed and I have £3500 pounds of debt on CC's, I was just wondering if I could get a balance transfer and who is the best person to go with? I have signed up with Credit expert to get a view on my credit rating which is "fair" atm, i'm just not sure if it is possible to get a 3rd credit card without having a job. Thx for any help.

Hi and welcome to the forum.

A balance transfer could be an option if you have sufficient income to make the contractual payments and if you are approved by card provider. Not having a job may be an issue.

We can’t recommend individual cards or providers.

If your only income is your benefits you might consider alternative solutions even if it’s just in the short term until you find new employment.

These alternatives could be as simple as making token payments until you find a new job, or more formal solutions such as a Debt Relief Order (depending on your circumstances).

You could try our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

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.

I hope this helps.

Kind regards,

Mat