Struggling with debt? Ask a debt advisor a question

System

lucylou32 wrote: »

Thank you for the above. very helpful. In regard to the Debt Relief Order, i did another search again today, and his name is still not showing (i got the letter 2 months ago). How long do you suggest i leave it, before i can 'assume' it wasn't granted? In which case, i guess i can carry on with the 'adjustment of earnings' route through the court?

Thanks for all your help

Hi lucylou32 and thanks for your reply.

If his name isn’t showing on the register then a debt relief order isn’t in place.

We don’t give advice on how to recover debts so I’d recommend that you take some legal advice to find the best way forward.

I hope this helps.

Kind regards,

Mat

Audi_A6

Morning all.
Newbie here so I don't know if this question has been asked before.
Our youngest son left our family home 2 months ago to be near his place of work and I have his permission to open any mail addressed to him if I think it is important.
Yesterday a letter came for him from a firm of debt collectors so I phoned our son and explained the contents of the letter. He assures me he is dealing with it so I contacted the debt collector and told them he no longer lived with me.
Question 1: If the debt collectors ask me for my son's contact details can I refuse to pass them on under the DPA and/or Article 8 ECHR?
Question 2: If a debt collector buys a debt-usually @3p/£-how can they ask for (as an example) £1000 when they have paid only £30 for it?

I will be grateful for any sound advice from more savvy members.

Regards.

System

Audi_A6 wrote: »

Morning all.
Newbie here so I don't know if this question has been asked before.
Our youngest son left our family home 2 months ago to be near his place of work and I have his permission to open any mail addressed to him if I think it is important.
Yesterday a letter came for him from a firm of debt collectors so I phoned our son and explained the contents of the letter. He assures me he is dealing with it so I contacted the debt collector and told them he no longer lived with me.
Question 1: If the debt collectors ask me for my son's contact details can I refuse to pass them on under the DPA and/or Article 8 ECHR?
Question 2: If a debt collector buys a debt-usually @3p/£-how can they ask for (as an example) £1000 when they have paid only £30 for it?

I will be grateful for any sound advice from more savvy members.

Regards.

Hi Audi A6 and welcome to the forum:)

You don’t need to tell the debt collection company anything in regards your son. They should also not discuss his debt with you without his consent.

You son does have a duty to inform the creditor if he has moved addresses.

The debt collection company are just trying to collect the debt based on the original terms and conditions of the agreement that your son signed with the original company.

If your son needs some advice I’d recommend that he calls us or uses our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu).

I hope this helps.

Kind regards,

Mat

nmh1980

Hi from a newbie

Let me explain my situation first.

2 years ago I split up with my fiance, who I relied on paying most of the bills and pay some of my debts. At the time, my only debt was my loan from the bank, which the monthly repayment is really high on, just under half my pay (£532 to be precise plus another £62 insurance). This still has just over 2 years left to run.

After we split up, I got into the habit of payday loans to keep me going throughout the month. I am now in the situation where I am struggling to pay this back in full. Currently, I am due Wonga around £515. I also have 2 smallish installment loans at £490 and £160. The £160 one is due to be finished in September, and the higher one is due to finish in January 2013. On top of that, I have a credit card maxed out at £750.

I have looked at getting into a DMP (or the Scottish equivalent) from Payplan or CCCS but not sure if this would be the best option for me.

Can anyone give me any advice on where to go from here? The one that is worrying me the most is the Wonga loan. If there was also a way to reduce how much I pay back on my bank loan, that would be helpful too. I am currently looking into moving my banking away from my current bank.

Edit: Just to add to this. The smaller debts (the 2 loans and my credit card) I am not too worried about as these are quite low and affordable monthly payments. Would it be worth just talking to my bank and Wonga direct to plan a repayment schedule?

System

nmh1980 wrote: »

Hi from a newbie

Let me explain my situation first.

2 years ago I split up with my fiance, who I relied on paying most of the bills and pay some of my debts. At the time, my only debt was my loan from the bank, which the monthly repayment is really high on, just under half my pay (£532 to be precise plus another £62 insurance). This still has just over 2 years left to run.

After we split up, I got into the habit of payday loans to keep me going throughout the month. I am now in the situation where I am struggling to pay this back in full. Currently, I am due Wonga around £515. I also have 2 smallish installment loans at £490 and £160. The £160 one is due to be finished in September, and the higher one is due to finish in January 2013. On top of that, I have a credit card maxed out at £750.

I have looked at getting into a DMP (or the Scottish equivalent) from Payplan or CCCS but not sure if this would be the best option for me.

Can anyone give me any advice on where to go from here? The one that is worrying me the most is the Wonga loan. If there was also a way to reduce how much I pay back on my bank loan, that would be helpful too. I am currently looking into moving my banking away from my current bank.

Edit: Just to add to this. The smaller debts (the 2 loans and my credit card) I am not too worried about as these are quite low and affordable monthly payments. Would it be worth just talking to my bank and Wonga direct to plan a repayment schedule?

Hi nmh1980 and welcome to the forum:)

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

The first thing to do is to put an accurate income and expenditure budget together. We can help with this. Once this is done you can see what actual surplus income you have after all your priority debts (housing costs, council tax, food, utilities, travel etc) are paid.

There could be various solutions available to you. I would recommend that at this point you don’t take any further lending as this would only make your situation worse. Some creditors will agree to reduced payments in the short term but this is entirely up to the creditor.

I’d also recommend that you include all of your debts together including the smaller more manageable debts.

If you are based in Scotland we do have a dedicated Scottish team also.

It would be a good idea to visit 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 and Saturday 9am until 3.00pm.

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

nmh1980

Hi Mat

Thanks for your replay and info. I have done the Debt Remedy thing and now just waiting for the email to come through.

Regards

Neil

elvis2003

Hi I was wondering if you could read my recent posts and give me some advice I need help with my debts

fatbelly

elvis2003 wrote: »

Hi I was wondering if you could read my recent posts and give me some advice I need help with my debts

Elvis's posts are here

HTH

Elvis2003 - CCCS will reply on Monday.

David1345

Hi - can I ask a quick question too please?

I've been struggling with my debts for ages, and have reached breaking point. In three months time I'll know if I either have a new source of freelance income which will allow me to solve the situation over time, or if I have to ask CCCS for help with a DMP.

In the immediate term though I cannot now afford minimum monthly payments to my creditors, from this month onwards. I want to contract them and ask them to hold action on my accounts for the next three months until I know what the situation is.

I just wanted to ask if that is realistic? Will they be prepared to give me three months breathing space with me making only token payments, if am tell them the situation?

It's so unbelievably stressful, any help would be great! thanks!

smarkmith

Hi all

Just looking for a few words of wisdom from someone who knows their stuff please.

As far as I'm aware I haven't made a payment to Link Financial Limited for 6 years for a debt owed to Capital One for a credit card I defaulted on.

The history of this has been removed from my credit file as of June 2012.

I am going to send Link Financial the Statute Barred letter template to hopefulyl get them off my case, as I have now received a letter from a solicitor threatening a CCJ. However, I'm not 100% ceertain that I haven't made a payment within the last 6 years. If I had, would the history still appear on my credit file, or does this not affect the default being removed?

In addition, if I have made a payment within 6 years it is my understanding that I can't claim that the debt is Statute Barred. Is this correct? If so, does that also mean that I have to pay them?

I'm due to buy a house within the next 6 months so I don't want a CCJ to screw this up for me. If I have to I'll pay, but I'd just like to know my options.

Thanks

Mark