Struggling with debt? Ask a debt advisor a question

CCCS_Sue

lex1ngton wrote: »

hello,
It was suggested i put this on here for advice thanks..

been sent a final letter today from barclays, had a loan of £25,000 and a ppi to go with it, costing £8283.94, i put in a claim for a ppi refund etc - and it has been up held, (so they are paying it back) however my loan has been passed to the barclays debt recovery unit about 2 years ago now and i have been paying just £1.00 a month as a nominal paymnet - (i am in dispute with them, in my eyes anyway) they calculated the repaymnet as
ppi premium £8283.94,
ppi interst paid £994.93
minus ppi paymnets reversed £1989.80

and they then said as the loan is in debt recovery they have sent a payment of £7289.07 to reduce the outstanding debt and a cheque to me for the reverse paymets with 8% statutory interest giving a cheque to me of £2129.09,

my question is this - are they allowed to take off £7289.07 and put it back against the debt ? - surely this is being like a preferred person ? - i have other debts that i owe surely i should have the money and then share it equally with the all the other people i owe money to equally - isnt it unfair on the other people i owe money to ?
can they do this ?
thank you
Lexington

Hi Lexington and thank you for your message

I think they may be within their rights to use this recredited PPI to pay off the arrears on your loan.
However,I can understand what you are saying about preferential treatment over your other creditors.
You could argue that the PPI is a separate contract, and therefore they should not use your refund to pay off the debt.

You could contact ‘Consumer Direct’ to see where you stand on this.
They may be able to advise you further on your rights.

I have attached a link for you.
http://www.consumerdirect.gov.uk/

Regards
Sue

HankBravo

Hi.

Thought I'd get in touch about something I'm a little confused about.

When I was very young, had some pretty bad personal circumstances leading to some debt defaults. (2002/2003). I've attempted to find out more about my past debt with no success as I have moved around a lot in the last 8 years. From several sources, including this site, Experian, Credit Expert, CAB etc, I have been informed that all credit defaults are expunged after 6 years. It's been 8 years. So, to the absolute best of my knowledge, I have no CCJ's or outstanding debt other than that of some old power bills I'd forgot and paying back and my Argos store card, which is paid monthly like any other store card. No problems.

Obviously, I know now that back then, I acted poorly and I don not condone it nor have I repeated anything like that since. I would like to get a free credit report but I am concerned that by simply applying for it online, a multitude of other organizations will register it and hound me. By ordering a free credit report, will ANYBODY else see that I have done so? I've had several Contract phones, broadband accounts and an Advantage Gold account from NatWest (still have it) etc since those dark days with no problems. I just want to take steps to repair my credit score and in order to do that, I need to see my credit report.

I actually tried to order one a couple of years ago but, it said there was not enough info and that I had to post several documents off to Experian which I was obviously uncomfortable with.

If you can offer any advice on this matter, I would be most grateful or you can PM me. Thanks for your time and I look forward to your response.

Kind regards,

Rami09

Hi,

I have been very silly with money over the past few years & have built up catalogue of debts with a number of creditors totalling about £10,000 give or take a little.

The problem i'm hvaing is accessing my credit report to try to find out who I now have the debts with as I want to try to pay all of these off myself rather than going into a DMP.

But Experian & Equifax have sent me out a PIN number to an address I no longer live at so I can't get this number & can't access my account. I've also used the free report on annualcreditreport.com.

I'm getting really worried about these debts now as i'm living with my partner & have found out that i'm pregnant which we're over the moon about. I really need to get these sorted as we're looking to buy the house that we are renting as the landlady is looking to sell in October. I don't even know if we'll be able to get a mortgage.

Thanks in advance

Emme

Hi there,

I have recently recieved a lumpsum due to ill health retirement. I have written off to my creditors asking for full and final settlement.

Equidebt have contacted me to advise they cannot offer a full and final settlement as santander won't let them. They will only offer a short settlement and I'm not sure if this is correct.

Also they letters I have had back say that this will show for 6 years on my credit file from the date settled. My defaults are due to come off my credit file in September and I'm wondering what this new 6 years will mean?

Thanks

Emme

CCCS_Sarah

tiredgirl wrote: »

We had a friend stay with us for approx. 12 months whilst they renovated a home. This friend moved on to stay with relatives some time ago but mail is still coming to our home. Inadvertently I opened one of these letters and it shows that our friend is in arrears with her mortgage on the renovated property which they aren't living in. As our address is being used for the correspondence, if our friend gets deeper into debt will this affect our credit rating going forwards??

Hello,

Thank you for your message.

Credit files are done on the individual not the address, so this shouldn’t affect your credit file.

It’s really important that your friend contacts their lender about their situation and tries to come to an arrangement.

If you don’t want to receive the mail anymore they you could ask your friend to change the correspondence address, or you could send it back in the post advising they are no longer at this address.

Sarah

CCCS_Sarah

brokepaolo wrote: »

Hi,

I'm waiting for my DMP to be set up, it won't be until the 1st of June. In the meantime, all my creditors have started calling me incessantly and emailing me about my accounts with them being in arrears, this despite me having emailed them all yesterday informing them that I am entering a DMP and will be sending them written confirmation of this as well as a token payment.

just now for example, I received an email with the following written in it:

'If you do not make contact, your account will be transferred to our Credit Control Team. I would like to remind you that upon applying for a loan you fully agreed to our terms and conditions, the Consumer Credit Agreement and also verbally confirmed that you were in a position to at the least, repay the interest on its due date. You also agreed that any outstanding balance you had with Cash Genie UK Ltd will fall outside of any debt management programme. You would have also been informed that calls are recorded. '

At the time of taking out this particular loan, I had not entered a DMP and while I understand that they are referring to the outstanding balance falling outside of the DMP, will they really insist on that?

their email then goes on to detail various courses of action they will take to recover the debt, which is of £170, including doorstep collectors etc..

The CCCS are sending me a letter for me to forward to my creditors which I should receive today and can then forward on tomorrow.

should I respond again to these emails stating that this is what I have been advised to do by the CCCS?

also, I cancelled my cards and direct debits to stop payments going out on the day they were due, the CCCS advised me to do this while I wait for the DMP to be set up, so my question is, how do I send them a token payment? do I send them a cheque? Do I pay cash into their account at the bank branch or should I send postal orders?

Hello,

Thank you for your message.

I answered this for you yesterday via the private messages. Let me know if you need any further help.

Sarah.

CCCS_Sue

Rami09 wrote: »

Hi,

I have been very silly with money over the past few years & have built up catalogue of debts with a number of creditors totalling about £10,000 give or take a little.

The problem i'm hvaing is accessing my credit report to try to find out who I now have the debts with as I want to try to pay all of these off myself rather than going into a DMP.

But Experian & Equifax have sent me out a PIN number to an address I no longer live at so I can't get this number & can't access my account. I've also used the free report on annualcreditreport.com.

I'm getting really worried about these debts now as i'm living with my partner & have found out that i'm pregnant which we're over the moon about. I really need to get these sorted as we're looking to buy the house that we are renting as the landlady is looking to sell in October. I don't even know if we'll be able to get a mortgage.

Thanks in advance

Hi Rami09

Thank you for your message

You need to contact the credit reference agencies again and advise them of your new address so that they can send you another pin.
You can also write to them to get a copy of your report. There is normally a £2 fee.
I have attached a link to a booklet called ‘Credit Explained’ which has the addresses of all three credit reference agencies.
http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf
It also has other information you may find useful.

Regards
Sue

CCCS_Sarah

HankBravo wrote: »

Hi.

Thought I'd get in touch about something I'm a little confused about.

When I was very young, had some pretty bad personal circumstances leading to some debt defaults. (2002/2003). I've attempted to find out more about my past debt with no success as I have moved around a lot in the last 8 years. From several sources, including this site, Experian, Credit Expert, CAB etc, I have been informed that all credit defaults are expunged after 6 years. It's been 8 years. So, to the absolute best of my knowledge, I have no CCJ's or outstanding debt other than that of some old power bills I'd forgot and paying back and my Argos store card, which is paid monthly like any other store card. No problems.

Obviously, I know now that back then, I acted poorly and I don not condone it nor have I repeated anything like that since. I would like to get a free credit report but I am concerned that by simply applying for it online, a multitude of other organizations will register it and hound me. By ordering a free credit report, will ANYBODY else see that I have done so? I've had several Contract phones, broadband accounts and an Advantage Gold account from NatWest (still have it) etc since those dark days with no problems. I just want to take steps to repair my credit score and in order to do that, I need to see my credit report.

I actually tried to order one a couple of years ago but, it said there was not enough info and that I had to post several documents off to Experian which I was obviously uncomfortable with.

If you can offer any advice on this matter, I would be most grateful or you can PM me. Thanks for your time and I look forward to your response.

Kind regards,

Hello,

Thank you for your email.

If for whatever reason the creditors did contact you, the debt after six years would be statute barred if you have not made written contact, made payments or they have not pursued you for a CCJ. To check this information you would need to contact a credit reference agency.

Sarah

CCCS_Sarah

Emme wrote: »

Hi there,

I have recently recieved a lumpsum due to ill health retirement. I have written off to my creditors asking for full and final settlement.

Equidebt have contacted me to advise they cannot offer a full and final settlement as santander won't let them. They will only offer a short settlement and I'm not sure if this is correct.

Also they letters I have had back say that this will show for 6 years on my credit file from the date settled. My defaults are due to come off my credit file in September and I'm wondering what this new 6 years will mean?

Thanks

Emme

Hi Emme,

Thank you for your email.

You could have an appointment with the CCCS and we can take a look at your budget and give you some advice on the best way to clear your debts.

Full and Finals are an option or you could look at a lump sum IVA. The difference between the two is…. Full and finals you would negotiate with your creditors and some may accept the lower figure and some might not. You could clear the debts that are willing to accept the lower amount and make payments to the others.

A lump sum IVA is a legally binding agreement between you and the creditors. So an Insolvency Practitioner would put forward the proposals on your behalf, if the some of the creditors did disagree then they could be outvoted by your other creditors.

If you would like to discuss your options, then you could call the CCCS on 0800 138 1111 for an appointment.

Hope this helps
Sarah

Mercyknight_2

I've just put all my details into the CCCS application and been left with the DMP option which I have applied for/accepted.

Now I am waiting for the pack to be sent to me.

Just a couple of questions:

1. What are the chances of companies agreeing to the DMP?
2. How long will it be before the pack arrives?

Thanks,

Mercyknight