Struggling with debt? Ask a debt advisor a question

daviekail9

Hi just wanting a bit advice i have a catalougue debt with littlewoods and it got sold on to nationwide debt recovery a while back but then i lost my job and they wouldnt take reduced payments i tried several times to get this but they point blank refused then a few months later they have sent me a statement saying the debt had went from 112.90 to 26.90 i tried to ring to make payment but they now say its been passed to lowell group i rang them and they explained it was a mis-calculation and the debt had went back up to 112.90 im very confused can they do this and where did the minus 86 pounds come from?? Help!!!

daviekail9

Hi just wanting a bit advice i have a catalougue debt with littlewoods and it got sold on to nationwide debt recovery i started paying them but then i lost my job and they wouldnt take reduced payments i tried several times to get this but they point blank refused then a few months later they have sent me a statement saying the debt had went from 112.90 to 26.90 i tried to ring to make payment but they now say its been passed to lowell group i rang them and they explained it was a mis-calculation and the debt had went back up to 112.90 im very confused can they do this and where did the minus 86 pounds come from?? Help!!!


Sorry Missed out a few details.

spoll_2

My parents have a dmp with the CCCS - all of the creditors except for one (the one owed the largets amount unfortunetly) have frozen interest and thanks to the monthly payements the debts are slowly coming down.

The one that has not frozen the interest is now taking parent to court to try and secure the debt against their home (or add it to the mortgage, we're not sure), using a Interim Charging Order (on land property).

Do you have any advice?

Thanks

scouselad1974

Hufflepuff wrote: »

Hi,

I am new to the forum:)

I have a DMP with Payplan which I have had for the past 7 years and is due to finish in 2047!

I already have defaults recorded on my CRF and wonder how long they last and if more can be added by my creditors?

I would really like clear my debts and am thinking would an IVA be better?

Any thoughts would be greatly appreciated.

Thank you

Hi

I hope you don't mind me saying but a DMP that is due to last 33 years seems a bit of a bad idea, I would definatley consider an IVA or Bankruptcy if they are suitable. I imagine it will be very hard having to deal with your creditors for that amount of time, I have been on my DMP for a year and that's been a slog thanks to a couple of very unhelpfull creditors.

fairybex

I'll try and keep this brief.
Myself and my now ex-partner owe a lot of money (we were on a dmp) but most of it is in my name as I always had the better job, now we are seperated I will have to pay (22,000) on my own. With interest always piling on it will take me forever to pay it off, is an IVA an option?

My parents think they may be able to help but only if the creditors accept a lower full and final payment, does this happen?

Thanks for any support

icecube2009

Hufflepuff wrote: »

Hi,

I am new to the forum:)

I have a DMP with Payplan which I have had for the past 7 years and is due to finish in 2047!

I already have defaults recorded on my CRF and wonder how long they last and if more can be added by my creditors?

I would really like clear my debts and am thinking would an IVA be better?

Any thoughts would be greatly appreciated.

Thank you

I also have a dmp which is set to run for a very lon time, at least 16 years, by which time i will be 60, so we are looking into an IVA as I need to see a light at the end of the tunnel, I would seriously consider what other options are available to you x

sylvie1978

Hello,

Please can you advise me?
I am in debt of £23,000 as a result of credit cards and loans. I am just about making minimum payments and paying my rent, but I am not going to be able to manage this for much longer and I am extremely worried. All the minimum payments needed leave me no money for essentials such as food, travel to work, basic clothing etc. This means I am having to increase my debt just to buy essentials, and am getting increasingly trapped in further debt. I have recently tried to obtain a condolidation loan at a much better interest rate which would have saved me £400 a month in payments and would have allowed me to repay my debt in 7 years, but this was declined by my bank on the grounds of affordability. I am desperate to get something sorted out before its too late! I have income of £950 per month after tax, and my essential expenses excluding repayments come to approx £450.
I would appreciate any advice you can give me on the best course of action for me to take.
Thanks in advance!

littleclover

Hi
I have been looking at arranging a DMP with CCCS and have had a remedy set by yourselves. I am just wondering can I open a DMP on 3 of my credit accounts but not all as there are only 3 i have come into problems with since my husband was laid off last year; littlewoods, additions and mint. The rest i am keeping up with and some very close to ending so if I open a DMP on everything it may not be wise, if you get my gist!!!
Please help as I have agreed an ATP with littlewoods over 6 months but the other 2 have been passed over too and I'd like some advice before contacting them again
Thanks
bev

CCCS_Sarah

renowen wrote: »

Hi thanks for replying.
No I havnt moved, all that has changed is my mobile number but they have had my current address and landline number the whole time ??
I realise I should be making some sort of payment and I intend to do so but does the lack of contact on there part mean anything? If the account has been handed to a debt collection agency does this mean the account has been closed and therefore not gaining interest? Or is this just wishful thinking?

Thanks again

If they have not been sending any statements then this could be classed as a breach of the Consumer Credit Act:-


“The statement must be given within a prescribed period after the end of
the billing period to which it relates.16 In particular:

• where the statement includes a demand for payment it must be
given within one month from the end of the period

• where the statement does not include a demand for payment but
there is a debit or credit balance on the account, the statement must
be given within six months from the end of the period

• where there is no balance on the account, the statement must be
given within twelve months from the end of the period or from the
date on which there is such a balance”.

If you wanted to challenge this then you could contact Consumer Direct or the Financial Ombudsman.

CCCS_Sarah

Hufflepuff wrote: »

Hi,

I am new to the forum:)

I have a DMP with Payplan which I have had for the past 7 years and is due to finish in 2047!

I already have defaults recorded on my CRF and wonder how long they last and if more can be added by my creditors?

I would really like clear my debts and am thinking would an IVA be better?

Any thoughts would be greatly appreciated.

Thank you

Hi Hufflepuff,

Thank you for your question.

I would recommend that you contact Payplan and have a review, they should be able to take a look at your budget and see if there are any other options available to you.

A default would be on your credit file six years from the date of issue, I have attached a link to a booklet that explains about credit files for you to read through.

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf


Sarah