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minnielester1

I owe around £9800 with TSB CC. I knew I was going to struggle and rang them, gave them my financial details and they told me the interest would be stopped and I would be passed to a debt agency. I cannot get to speak to anyone in England. However, this was two months ago and since then they are continually sending me threatning letters telling me that I am going to be taken to court. I have now had a letter from their solicitors and they say interest is being added daily. I have rang them each time a letter has appeared and they say I am to ignore them but the people in india do not appear to know my situation and give me differing answers each time. One told me I was being taken to court, the other said I wasn't. I asked for financial ombudsman number they refused. I asked them for a number I could contact in England to speak to someone who does know what is going on and they refused. I have written to TSB and complained, recorded delivery, no response. I asked for written confirmation that the interest has been stopped and that I can set up a payment plan, but they again refused saying they do not have the facility to arrange this. I am getting desperate and do not know what to do, what to pay, who to speak to. I do not want a CCJ which I think is what they are trying to do. I do not have the 1k they want to clear the arrears. Can someone please help me.

StepChange_Pavan

kingcole wrote: »

Hello,

I would really like some advice......

About 5 years ago I lost a well paid job and at the time had outstanding credit card bills of c£50,000. I went into default on them. Over the next year I cashed in all my endowments and made full and final offers to them all. There were 6 creditors in total, with debts from £16k to a £1500. With a bit of two and frowing, over the next few months, all were settled at between 35% and 50% of the outstanding balance - all that is bar one!

This one was Tesco bank. I owe them just over £10k and since that day 5 years ago I have been paying just £12.75pm and they have frozen the interest. They are now hounding me for more finacial info. I have sent off a recent buget statement, which still shows that we have zero dispoable income.

However, with job prospects looking a bit better over the next year, my situation could improve.

My two questions are this.... Can they still chase the debt once it is 6 years old? If I start to earn more money and can pay say £50pm, would they be in their rights to start adding interest?

Any help with the best way to proceed would be appreciated. The funds from selling the endowments are long gone.

Hi Kingcole and thanks for your post.

Yes, they can chase the debt once it is 6 years old. I think you might be referring to the Limitations Act, where debts are unenforceable if, after six years:

• the creditor has not already obtained a county court judgment
• you have not made a payment, or
• you have not written to the creditor admitting you owe the debt.

As you have been making payments this would not apply to you.
I would recommend that you put together an income and expenditure to show them how much you can realistically afford each month. They should be happy if your circumstances have improved and they will be receiving more money, but there is no guarantee as to whether they will continue to freeze interest and charges.

If you would like help to complete your income and expenditure, you can use our online Debt Remedy

Hope this helps.

Kind regards
Pavan

StepChange_Pavan

MiChris04 wrote: »

Hello any help or advice on this problem would be much appreciated
I currently have a mortgage with santander & have had it since 2005 before that it was with britania from 2002
Before that I had some advesre credit but got it sorted I did however get a ccj issued sometime in 2001 or 2002 I thought I paid it off in 2004 but I have recently found it still on my experian file I have got in touch with the court (Northampton) who said they would update the info once I got a letter from SCM (acting for Lloyds TSB) with the date & amount stating that it had been settled I have got this info But SCM say that it I settled it in January 2006
I am currently selling my home & trying to obtain a new mortgage will this info count against me or will staying with santander be a better option?
I am up to date on all mortgage payments & never defaulted & my credit card & bank account are all upto date. Thanks

Hi MiChris04 and thank you for your post.

It’s difficult to say whether this will affect you or not, as different banks have different lending criteria. There is a really useful article on this site about credit files: how they work and how to improve it: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

You could query the date with SCM to see if they will change it if you believe it is incorrect.

Hope this helps.

Kind regards
Pavan

winner12

Hi
I have complained to FOS about Capital One they have flatly refused to accept my DMP and just passed me to a DCA who are just as bad.
FOS have advised that I ask them to put my account on hold while they look into it for me but im worried about not paying them as per my DMP what should i do

pricelessluck

I have spent the last 2 years getting my finances back in track and should find myself out of debt within the next 6 months. :j I have recently checked my credit score and it has risen to the mid 400s which is above average.

My problem is that prior to 2 years ago I had missed numerous payments and my payment history still shows as very poor. Can someone advise how I go about improving this part of my report (apart from continuing to pay off my credit card debt which I am doing)

Thanks for your help!

longhairedbloke

Hi,

We have just completed the forms on the CCCS website and it suggested an IVA or a DMP.
Brief summary of our situation :
Total unsecured debt £3100
Total secured debt £162000.

At the moment, we'd prefer a DMP.
However, the booklet said it would take approx 10 years to complete (providing all creditors stop interest).
So, I have a few questions :

We have gone through all the figures a lot to ensure we have everything covered, but if we start a DMP and find we struggle, or one or more creditors refuse to stop the interest, would we be able to move to an IVA relatively easily?

If we find we actually have any money left at the end of each month, would we be able to just pay a bit more to the DMP to try to reduce the term more quickly?

We actually own a house that we rent out and we are renting a house elsewhere (due to relocation due to job change). We have thought about selling, but we have a large second mortgage that has 12 years left (we weren't given great advice on this, wish I'd come here first!) and we owe more than the house is worth, so even if we sold, only the term would be reduced, not the monthly payments and we wouldn't have the rent coming in to help us pay it.
I've heard that with an IVA there's something about it could last for six years if you own a house. There would be some (small) equity in it after five years (all other things being equal), so would that affect anything and make the IVA longer?

Just one more thing, we have a timeshare (in the US) that we can't get rid of, but have to keep up the maintenance payments. We're already behind and are being charged interest. We can't even give it away, cos nobody wants one any more, even though it's a top gold crown resort (top 10 in the world). We can't just not pay and let them take it back, cos that stopped a few years ago when everyone was doing it who wanted rid. Can we justify putting down the $600 per year cost on the DMP?

I had a few more questions but they've slipped my mind now cos it's gone a bit fuzzy with all these figures and the worry. Hopefully when the email comes through from CCCS with details of how to setup the DMP I'll start to feel more positive.

Thanks.

StepChange_Pavan

minnielester1 wrote: »

I owe around £9800 with TSB CC. I knew I was going to struggle and rang them, gave them my financial details and they told me the interest would be stopped and I would be passed to a debt agency. I cannot get to speak to anyone in England. However, this was two months ago and since then they are continually sending me threatning letters telling me that I am going to be taken to court. I have now had a letter from their solicitors and they say interest is being added daily. I have rang them each time a letter has appeared and they say I am to ignore them but the people in india do not appear to know my situation and give me differing answers each time. One told me I was being taken to court, the other said I wasn't. I asked for financial ombudsman number they refused. I asked them for a number I could contact in England to speak to someone who does know what is going on and they refused. I have written to TSB and complained, recorded delivery, no response. I asked for written confirmation that the interest has been stopped and that I can set up a payment plan, but they again refused saying they do not have the facility to arrange this. I am getting desperate and do not know what to do, what to pay, who to speak to. I do not want a CCJ which I think is what they are trying to do. I do not have the 1k they want to clear the arrears. Can someone please help me.

Hello minnielester1 and thank you for your post.

Your situation certainly sounds very frustrating. It sounds as though Lloyds have stopped dealing with your account and passed the debt on to a collections agency. If you can’t speak to someone who will answer your questions, I recommend that you only correspond in writing to the address on the letters that you have received.

You should send them a copy of your income and expenditure which will show them how much you can afford to pay them each month. Do not offer them money that you haven’t got, just work out a realistic amount and ask them for their bank details so that you can set up a standing order to pay them each month. (If they won’t give you their bank details, you can send a cheque or postal order instead.) Send everything by recorded delivery to ensure they receive it and make sure you remember to keep copies of everything as well.

There is no guarantee that they will stop the interest and charges but generally speaking, debt collection agencies don’t tend to be as persistent as the original creditors.

They could potentially go for a CCJ. However, they would not gain anything out of this because the courts would set the monthly payment at an amount that you can afford – which you will already have done yourself.

If you would like help in compiling your income and expenditure or dealing with your creditor, you can visit our online debt advice tool, Debt Remedy.

Alternatively if you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00.

Hope this helps.

Kind regards
Pavan

dadooronronrondadooronron

Hello

After a few false starts I finally sent off all my paperwork to CCCS couple of weeks ago. I spoke to somebody last week who said it was in the final stages of being checked and that I could probably start it by paying 1st payment via direct debit to CCCS on 1st November, but CCCS advisor said this would all be confirmed in my welcome pack, which hasn't arrived as yet.

I put my car in for service Monday and now have an unexpected bill of over £300 to cover service and couple jobs on it. Would it be possible to hold off starting DMP until 1st December? I would, of course, make further token payments this month to all and sundry!! Would that be ok?? Otherwise going to really struggle.

Secondly, I sent the letters off to everybody and have had acknowledgements back from a few. I didn't sign the letters. I signed them electronically as I keep reading on here is the best action. I have now had letter back from Capital One saying they will not acknowledge my instruction to deal with CCCS as my letter does not have a signature that they recognise? What should I do?

thanks for all your help. CCCS have been great as have all the people on this site. Difficult to ring CCCS at moment as am working extra hours and cant ring from work and have in-laws staying at home and they have habit of walkng in room when on phone :eek:

cheers - RON

StepChange_Pavan

winner12 wrote: »

Hi
I have complained to FOS about Capital One they have flatly refused to accept my DMP and just passed me to a DCA who are just as bad.
FOS have advised that I ask them to put my account on hold while they look into it for me but im worried about not paying them as per my DMP what should i do

Hi Winner12 and thank you for your post.

If a creditor doesn’t accept a DMP, we would normally continue to send them your payments anyway.

You could ask the FOS whether you should be making payments whilst your account is on hold, as it might depend on what they are investigating. However, if you are not disputing your liability of the debt, we would generally advise you to continue to send your payments.

Hope this helps.

Kind regards
Pavan

StepChange_Pavan

pricelessluck wrote: »

I have spent the last 2 years getting my finances back in track and should find myself out of debt within the next 6 months. :j I have recently checked my credit score and it has risen to the mid 400s which is above average.

My problem is that prior to 2 years ago I had missed numerous payments and my payment history still shows as very poor. Can someone advise how I go about improving this part of my report (apart from continuing to pay off my credit card debt which I am doing)

Thanks for your help!

Hi Pricelessluck and thank you for your post.

There is a really useful article on this site that gives you more information about credit files and how to improve them:
http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve

I hope you find some helpful advice.

Kind regards
Pavan