I ran away, but now it's time to stand up

mouldydc

Morning everyone.

I've spent 2 hours reading these boards, trying to come up with a post that doesn't sound weasely and pathetic.

I've got outstanding debt on my Halifax credit card and an overdraft. Or at least I used too. That is to say, i still owe it, but neither of them are currently tings I "use".

Sorry - clarity - I owe Halifax £6,500 or thereabouts for a credit card and £1500 ish (my memory's not great, but I know it's near that) for an overdraft. These have both been passed to DCAs.

Both of these debts were run up between 2004-2008. In 2009, I literally ran away from them by moving to canada for 18 months.

In that time, my brother and his missus bore the brunt of it, getting letters from DCA and doorstep vists despite the fact that their address was originally used as a c/o address for my mail.

I came back in October last year, and paid off a £350 debt to capital one, but have stuck my head in the sand over these other two because frankly I had literally no money and wasn't eligable for JSA. I lived at my mothers and had an "out of sight out of mind" attitude. My brother wasn't as fortunate.

Now they're basically (understandably) disowning me for failing to do a single thing about it.
They're getting letters from Wescott about the £6k , while I'm get CapQuest letters to my Mum's house about the very same debt. This can't be right.

I've told him to write a C&D letter to Wescott... he rightlyfully swore a lot at my cheek of getting him to write to sort out my childish mess.

Now I'm 30. I've recently got a job (not a great payer, but a job) and I'm moving out to become a lodger at some very nice people's home (the job is in England, my family are Scottish otherwise I'd stay at home and save). My new selfish problem is I don't want to have DCAs pitching up at their house when I'm out in the day, so I'm reluctnat to give my address.

I'm a weak, selfish, a-hole. But I've been living within a budget for years now and haven't run up any debt since 2009... which is something I suppose.

Can anyone help? How, I don't know... but help? I just don't know where to start. 1st things 1st - how do I get the DCA to leave my brother alone?

Thanks for anything folks, I'm glad you're here.

MD

LittleMissGiggles123

Start paying your debts would be an obvious one surely? Can't you contact the DCA's & arrange a payment plan?

edinburgher

I'm a weak, selfish, a-hole. But I've been living within a budget for years now and haven't run up any debt since 2009... which is something I suppose.

It's a start, but it doesn't count for squat until you contact the creditors and show some respect for your family. Take back your pride and do something about this, it's not worth damaging your family relations for the sake of your fears. There are plenty of options open to you, but you need to start somewhere.

I'd suggest writing a detailed SOA and contact your creditors asap - your family don't deserve this and you wouldn't have written your OP if you weren't aware of this (and ready to change).

You can do it

mouldydc

Of course you're both right.

I wrote to Wescot today to begin sorting out payments and stressed that they are only to write to the address I gave them (mine) and leave "the current occupier" who has no liability as regards this debt alone, inline with the OFT regs.
I'll write to Capquest tomorrow and ask why they're duplicating the letters Wescot are sending.

I think I needed to write the OP and see it there in the world, so I couldn't just go on pretending it wasn't happening.
£8.5k is a stupid amount of debt to be in, but I know it could be much worse and will end up much worse if I don't finally do somethign about it.

I do have a question though - I have looked at my Experian Credit Report, and neither of my debts are on there. I am rated as "Poor" with a score of 716, but despite looking all over for instances of my debt, all I can find is "to improve your score - register on on your electoral roll".
I don't want to hide from it anymore, but apparently it wants to hide from me...

edinburgher

I think I needed to write the OP and see it there in the world, so I couldn't just go on pretending it wasn't happening.

That's understandable - a burden shared and all that (and with the added bonus of internet anonymity)

£8.5k is a stupid amount of debt to be in, but I know it could be much worse and will end up much worse if I don't finally do somethign about it.

I paid off almost exactly this much (maybe slightly more) on low salaries (mostly under £15k), it can be done and you can still have some sort of a life. I'm just a little bit younger than you, so I know how it feels.

I don't want to hide from it anymore, but apparently it wants to hide from me...

Remember that the UK has 3 main CRAs - don't assume there's no defaults registered and get them checked. If defaults haven't been registered it will be considerably easier to get your life back on track

mouldydc

That's all very encouraging, thank you Edinburgher. I'm on £18k at the moment and have very few other outgoings - no dependants, no car etc so I've a fair amount to be able to give back to cover my debts each month.

What are the other two CRAs called?

If you don't mind me asking, how long did it take you?

edinburgher

This guide is worth reading - covers pretty much everything you need to know about repairing credit history, including links to ordering credit reports etc.

It took me 7? years, but for much of that time I was either an underemployed recent graduate (seemed like a good idea at the time), earning minimum wage or trying to get on the career ladder. My salary's a good bit healthier these days, finished off paying them back about a year ago.

Where in England are you? Near enough to visit your family and start building bridges?

mouldydc

Brother's in Greater Manchester and I'm in Sussex, but I'm going to try. Visits would probably not be welcome (especially not with the S-I-L), but emails and phone calls will start as soon as I can tell them with 100% certainty that they won't be bothered by my daftness again.

Well... not financial daftness anyway!

edinburgher

Visits would probably not be welcome (especially not with the S-I-L), but emails and phone calls will start as soon as I can tell them with 100% certainty that they won't be bothered by my daftness again.

Give it time - family will come around, just start making a good impression on them by sorting stuff out.

Mind if I ask what you did in Canada? I used to want to live there, but they went and changed the entry requirements on me! Oh well, who knows what the future will bring.

LittleMissGiggles123

Sounds like you are determined now, so good luck to you with this. We've all had debts at some point so you'll have plenty of help on here.

x

mouldydc

Statement of Affairs and Personal Balance SheetI've only had this job a short while, and the SOA doesn't show that I paid £1000 in deposit and rent this month!

I'd say I have comfortably £300 that I can use to pay off my debts each month (betweeen the two). With that in mind, I should be debt free before I'm 35. :j

Excellent.

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1200

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 25
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 15
Entertainment........................... 50
Holiday................................. 10
Emergency fund.......................... 15
Total monthly expenses.................. 885


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................6400......0.........0
over draft.....................1400......0.........0
Total unsecured debts..........7800......0.........-


Monthly Budget Summary
Total monthly income.................... 1,200
Expenses (including HP & secured debts). 885
Available for debt repayments........... 315
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 315

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,800
Net Assets.............................. -7,800

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.