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What to do next?
canny7
Posts: 2 Newbie
I've had debt problems from my days at uni with credit cards, overdrafts and then loans after graduating.
I have now cleared all my credit card debts and have a natwest loan and overdraft left to clear.
Natwest have defaulted my overdraft but say the loan is behind payments and have passed this debt on to collection companies over the year and they have put these two debts together to which totalled
24,000 until last week.
They contacted me and I now worked abroad as to make more money
to pay off this debt and when they found out about these by asking questions they told me I had to pay £5000 which is my savings, I paid this and then they told me I have to pay £700 a month. The balance is now £19000.
Now I don't really have an issue paying this but I do have some questions.
1. The amount I have paid now is more than I would have paid if i'd have kept up my loan repayments. Should this effect the interest paid as I'm paying it earlier or is this irrelavant as i broke the loan contract.
2. Also i hear a lot on tv at the moment about PPI reclaim, I can't be sure if I was sold it incorrectly but again as I'll be paying the loan earlier can i not reduce the PPI cost.
(should let you know the natwest loan was £15000 at 11% taken out January 2008 the PPI was about £6000 I think!)
Anything else you can see from this would be very helpful as all i want to do is pay off these debts so that i can start building up my credit rating again.
Thank you
I have now cleared all my credit card debts and have a natwest loan and overdraft left to clear.
Natwest have defaulted my overdraft but say the loan is behind payments and have passed this debt on to collection companies over the year and they have put these two debts together to which totalled
24,000 until last week.
They contacted me and I now worked abroad as to make more money
to pay off this debt and when they found out about these by asking questions they told me I had to pay £5000 which is my savings, I paid this and then they told me I have to pay £700 a month. The balance is now £19000.
Now I don't really have an issue paying this but I do have some questions.
1. The amount I have paid now is more than I would have paid if i'd have kept up my loan repayments. Should this effect the interest paid as I'm paying it earlier or is this irrelavant as i broke the loan contract.
2. Also i hear a lot on tv at the moment about PPI reclaim, I can't be sure if I was sold it incorrectly but again as I'll be paying the loan earlier can i not reduce the PPI cost.
(should let you know the natwest loan was £15000 at 11% taken out January 2008 the PPI was about £6000 I think!)
Anything else you can see from this would be very helpful as all i want to do is pay off these debts so that i can start building up my credit rating again.
Thank you
0
Comments
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I did not think they could add 2 different amounts together like that, but you need someone who knows a lot more than me to help you properly - hopefully someone will look in.Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20360 -
Is interest still being added to this debt?I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
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No, they say the interest has stopped.
They are probably still two seperate debts but the collection company are showing what the total amount is left is.0 -
Its not for these leeches to say what you must pay & when - you decide what is what, not them.
If they harrass you then report them to the OFT & the financial ombudsman service.0
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