so many debts where to start.....

Paulgold27

Hi All,

ok I have been looking at my situation and what to do. Here are my details

I am currently almost 35k in debt this includes the following:

£18,000 Mortgage
£11,000 Secured Debt (was on old flat)
£5,500 Credit Card Debt
£650 Overdraft Debt

I was about three years ago in a grave financial position I moved out of my 1 bed flat to flat share with a freind. this worked until my flat mate lost his job and I had a choice to either pay my rent where i lived or the mortgage.

I feel i made the wrong decision to pay the rent rather than the mortgage.

This turned badly as I had to borrow on credit cards to make ends meet and I started to receive many many bank charges all on top of each other.

I tried by contacting the companies involved but with no avail until my flat was reposed so.

This all happened at the time when I had my flat on the market for £106k, this would of solved all my debt problems.

After the repossession the flat was eventually sold for £76K. As you can see I lost almost 30k.

So now I have bored you with my history my situation at the moment is that I have managed to speak to all creditors to start paying the fees back at no interest at the moment.

My problem is that I know there are many charges that I received on all my accounts when I was unable to make the payments.

This also means that my credit rating has been decimated and I am still recieving the non payments marks on my credit report even though im paying off my debts on a gradual basis.

Does anyone know where I should start in terms of making a claim for my charges.

Should I start with the Lloyds who hold a credit card mortgage and overdraft and then move onto the smaller companies?

Also with the dets that have been bought out by debt recovery companies what can I do there?

Thanks very much with any help you give me.

Regards

GeorgieFTB

Didn't want to read and run but I don't know enough about your issues. Fill out an SOA I can't remember the link, I'm sure someone else will come along and correct me.

Good luck
Gx

podperson

Personally I would start with the credit card charges as they are the ones you are more likely to be able to get back.
Bank charges are very difficult to claim back at the moment, you would need to be able to prove you are in financial hardship and then there is no guarantee. Mortgage charges I believe are having more success at the moment, am not an expert on that side but would have a look on the mortgage boards as I believe a few people have managed to get late charges etc back on them.
Let me know how you get on, am currently in the process of claiming on my credit cards and then am going to have a go at the mortgage

persian_star

We were in about 35K of debt about a year ago (our own silly fault for buying a car) before my LBM, then I was recommended putting all our information into this site: http://www.whatsthecost.com/ in order to pay back our debts as quickly as possible. This is obviously for after you've reclaimed or negotiated all you can, but when you've got it down to what you must pay back, it's very handy and quite motivational. We're now only in 22K of debt - amazing what you can do when you set your mind to it!

Good luck!

NorthernLas

There is a board on the forum specifically for reclaiming charges

http://forums.moneysavingexpert.com/forumdisplay.php?f=102

You could look on the guides there to work out what you can reclaim charges on and how to do it

Paulgold27

Thanks for all the replies.

I tried posting this on the reclaiming of charges and had no response at all which is why I thought I would ask here.

I was also wondering if anyone has any pointers with sorting out my credit rating?

Thanks

Paul

immoral_angeluk

Can I just clarify, you moved out of rented accomodation, into a mortgaged property with your friend who then lost his job?

Paulgold27

no I moved out of my mortgaged property to rented accomadation when he lost his job

NorthernLas

Paul - If you look at the link I posted there is a board specifically for reclaiming charges. It is called The Reclaim Bank & Credit Card Charges Board

http://forums.moneysavingexpert.com/forumdisplay.php?f=102