What should I do?

joolee86

Hello this is my first post so be gentle!

In the last year and a half I got into some debt trouble because of depression/gambling addiction out of control and bank/cc company throwing money at me even though it was blantent the number of gambling usage on my accounts (you can tell I am bitter!!).

I stuck my head in the sand unfortunatley and being a student moved out my parents address not telling CapitalOne into a new flat then from there to a new flat without telling Nationwide.

2 weeks ago CapitalOne sent a default letter to my parents address and i paid the 200 plus an extra 50 to stop it going through which brought the balance down to 590 - below the 600 limit.

Today my mum tells me that a big red letter came saying I owe 590 within a week or the house will be blacklisted etc etc!! I got a message left on my moblie today from a woman claiming to be from The Telegraph Office. I googled a bit and found it to be CapQuest a DCA.

I could prob pay this and I am currently fighting Nationwide (who probably have a DCA on my case too...) to get over 1000 of charges back.

My income is 750 - 500 student bursary and 250 part time job.
All outgoings apart from debt and going out/clothes etc is about 500 a month. So I could afford some payment.

However I've read posts and sites about full and final offers and negotiating - obviously I would like to pay as little as possible if possible! Any advice?

Am also a bit scared about dealing with these people - I am a 5ft1 20 year old female and aren't exactly assertive. It also makes it difficult that to communicate by post I'd really have to tell them my current address...

Any help would be appreciated

Mics_chick

Hello :hello: and well done :T for coming to this site first of all.

But my first instinct is if you can afford to do something about your debts the first and best thing to do would be to tell them your address so that your parents don't get any flack for it. Do you want debt collectors knocking on their door?

You've taken the hardest step to admit the problem and then the next hardest to seek some help for it so you're already a fair way along the path so be strong and keep going... Good luck!

joolee86

Thanks :j I see what your saying about the address thing.

I forgot to ask - does this mean that from now on I no longer deal with CapitalOne at all? Only the DCA?

They are such gits for doing this right after I paid them a third of the balance! I don't understand why they would...

CLAPTON

post full details of your financial situation

income
full itemised list of spending

then details of debts..amount owed, min monthly payments, APR and if in default give details thereof

add details fo your general sutuation.

Mics_chick

joolee86 wrote:

They are such gits for doing this right after I paid them a third of the balance! I don't understand why they would...

I think you've waved a bit of money under their nose so now they chancing their luck in trying to scare you into handing rest over as soon as poss...:mad:

joolee86

CLAPTON wrote:

post full details of your financial situation

income
full itemised list of spending

then details of debts..amount owed, min monthly payments, APR and if in default give details thereof

add details fo your general sutuation.

Do I need to? I just wanted some advice on how to make the most of the debt collection agency situation..

lynzpower

it would be best. Its really impossible to be able to give good advice without being clear on the circumstances

MCBIRNIE25

You don't have to, it's just some people want the maximum help available.
If this is the only debt then yes, deal directly with the DCA who are collecting on capital one's behalf. If others are going to come out the woodwork then use one of the debt management companies on this site.
A simple letter with a monthly payment to the dca should be good enough. This will need a sheet attached explaining income and expenditure etc. Then when you get your charges, write and make them an offer to pay off in full.

immoral_angeluk

I wouldn't worry about your parents house as it's not addresses that are blacklisted now it's people. If any baliffs turn up at their door and they can prove you don't live there then they can't remove any goods or anything like that so don't worry.

joolee86

Thanks everyone! My other debt is nationwide overdraft £1800ish and a loan remaining at £150ish (had a missed call from Moorcroft today..possibly for these?). However due £1000ish back from charges - just did my court thing a week ago.

What would they accept for a full and final on £590?

Also it says on the letter "Our clients - Capital One" - does this mean the debts not sold yet?

In brief my circumstances are monthly -

*Income*
500 bursary and 250 job

*Outgoings*
Payment to boyfriends account for rent, bills, food etc - 500

*Debt*
Capital one/Capquest - £590.67
Nationwide/Moorcroft? - £1800 O/D
£150 loan remaining

*Charges to Claim Back*
Nationwide -£1038
Capital One - possibly a few hundred - not seen statements or online for a while as not letting me sign in

*Other account*
I have a student interest free o/d from RBS of £1250 that somehow they gave me a month ago. Balance = -£150

Pobby

Are you still gambling?If so there is help for you.