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Defaulting on 1 Agreement with Lloyds compared to DMP
TheLostSheep
Posts: 184 Forumite
Brief bit of help wanted here.
Am I better to default and come to arrange with Lloyds internal debt recovery, contiuning to settle my other accounts in full? Or goto DMP with CCCS where I default on everything?
I have 5 main creditors I owe money to, totalling around £27,000. 4 of them are with Lloyds TSB in loans, a credit card and a overdraft.
The credit card is at £15,300 and my minimum payment just clears the balance.
I am currently weighing up a DMP via CCCS but am holding off as I wondered would I be better to goto Lloyds Consumer Debt Recovery and pay a lower amount with debt frozen. This would mean I keep up with my other 4 creditos but I default on the Credit Card.
This would leave a mark on my Credit file for 6 years. Would this be better than going to CCCS and a DMP as esentially that means I default on everything.
My SOA is available elsewhere. I would say however I've been making huge cut backs in other areas, but this Lloyds Credit Card really bugs me. Their customer service has been really poor too!
Am I better to default and come to arrange with Lloyds internal debt recovery, contiuning to settle my other accounts in full? Or goto DMP with CCCS where I default on everything?
I have 5 main creditors I owe money to, totalling around £27,000. 4 of them are with Lloyds TSB in loans, a credit card and a overdraft.
The credit card is at £15,300 and my minimum payment just clears the balance.
I am currently weighing up a DMP via CCCS but am holding off as I wondered would I be better to goto Lloyds Consumer Debt Recovery and pay a lower amount with debt frozen. This would mean I keep up with my other 4 creditos but I default on the Credit Card.
This would leave a mark on my Credit file for 6 years. Would this be better than going to CCCS and a DMP as esentially that means I default on everything.
My SOA is available elsewhere. I would say however I've been making huge cut backs in other areas, but this Lloyds Credit Card really bugs me. Their customer service has been really poor too!
£29,500+ of debt cleared Jul 2010 >> Dec 2011.....
Now facing same again with £65,000 :mad:
Now facing same again with £65,000 :mad:
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