Barclaycard and Virgin Money Credit Card Debts... 19.5K total

Superbiatch

Teekaylon wrote: »

funny isnt it makes you wonder how people coped before the days of forums like this one its a brill site!

Terry

Too blimmin true! I've been a forum member for a couple of years, yet only this year made full use of it

Superbiatch

Teekaylon wrote: »

Edit: Forgot to mention if you bank with either of your creditors open a new bank account pronto and get your wages paid in there too. Do you have an overdraft also?

Also i forgot to ask regarding the overdraft facility why is it so important that i discard it?

not that this bothers me as i have hardly used it if ever at all im just curious thats all? and if my banck account is with First Direct how would either Virgin, Barclaycard or CCCS for that matter know if i had or i hadnt?

DMPs from my understandings are like a gentlemans agreement between a debtor and creditor or put another way .... an informal structured repayment plan so how would anyone know if I had actually binned this overdraft or not?

Very true, but if they somehow found out and you used it you are in effect using money which isn't yours. It could affect the 'gentlemans agreement' is what I've been led to believe. In all honesty I've kept mine at £100 and its a buffer just in case

Teekaylon

Yes i now uderstand Superbiatch, i have allways been very disciplined where my current account is concerned so i really dont think i would use my overdraft facility.

if i found myself in the position of short term need for cash i would rather borrow from a loved one rather than jeopardise diving into my overdraft and then blowing anothr £500.00!! :rotfl:

although i did just realise that with what i can afford each month (£100.00) to service my debts that it will actually take over 16 years to pay it off! :eek:

ladycorsair

Teekaylon wrote: »

thanks for all the sound advice superbiatch all makes great sense and has answered a lot of questions for me and settled a few anxieties... As i say i have fired off my letters now and made my token payments so will just wait and see what happens or when it happens.


funny isnt it makes you wonder how people coped before the days of forums like this one its a brill site!

Terry

I know this sounds daft, but I'm in a similar situation, and about to embark on a self managed DMP... How do you make the token payments? My loan currently goes out by Direct Debit, do I cancel this? I don't have a cheque book... Thanks! (Sorry to butt in on your thread hun, but I'm hoping we can advise one another)

Arielle xx

Superbiatch

ladycorsair wrote: »

I know this sounds daft, but I'm in a similar situation, and about to embark on a self managed DMP... How do you make the token payments? My loan currently goes out by Direct Debit, do I cancel this? I don't have a cheque book... Thanks! (Sorry to butt in on your thread hun, but I'm hoping we can advise one another)

Arielle xx

Cancel your dd payments immediately and keep an eye on your bank as mine tried to reinstate them :mad:

You can then contact your creditors if you feel happy to do so and ask for standing order details, then organise a set amount to leave your account. If you've not yet been in contact with them, you need to send them the letters (templates available) which will inform them of your financial difficulty and include a cheque with each one.

Bear in mind if you owe your bank money, they could empty your account so might have to set up a new bank account not linked to any of your creditors

Teekaylon

ladycorsair wrote: »

I know this sounds daft, but I'm in a similar situation, and about to embark on a self managed DMP... How do you make the token payments? My loan currently goes out by Direct Debit, do I cancel this? I don't have a cheque book... Thanks! (Sorry to butt in on your thread hun, but I'm hoping we can advise one another)

Arielle xx

its not daft at all Arielle i didnt have a clue a few days ago either so dont be worrying about lack of knowledge, what Superbiatch says is brill advice you should cancel you direct debits with your bank ASAP.... and its not daft at all we are not the only 2 or 3 in this position there are millions like us so united we stand i say haha!

i do have another question if anyone can answer this? when companies do a credit check on your file can they see full details on transactions or just failed attempts at credit? so ultimatley can they actually see details of what you have in your accounts etc?

Superbiatch

Teekaylon wrote: »

its not daft at all Arielle i didnt have a clue a few days ago either so dont be worrying about lack of knowledge, what Superbiatch says is brill advice you should cancel you direct debits with your bank ASAP.... and its not daft at all we are not the only 2 or 3 in this position there are millions like us so united we stand i say haha!

i do have another question if anyone can answer this? when companies do a credit check on your file can they see full details on transactions or just failed attempts at credit? so ultimatley can they actually see details of what you have in your accounts etc?

Sorry for a very late reply, I was whisked away for 2 nights under canvas

MBNA were fully aware of what I owed after doing their 'search' so I assume they can see all attempts for credit and also what is outstanding to whom.

Teekaylon

Thanks for the reply Superbiatch

hope you enjoyed you 2 nights under canvas then, glamping i presume


The reason i ask about what is on ones credit file exactly is that i have a savings account on behalf of my 8 year old with apprx £1200.00 pounds in it that has been accumulated from his birth in cash gifts etc from my family...

i have a bit of a situation going on with my ex so rather than have her trash gifts that my family give him ( yeh very sad i know) i decided to keep the cash safe for him in a savings account in my name until hes responsible enough age to have it for himself............

Could this be siezed as an asset?
I am sure i did read that under a DMP your assets are safe?
i.e house,car, cash assets and what not?

thanks in advance

Superbiatch

Of course I was glamping - is there any other way?

I really don't know the answer to your question, I think it might go missed in this thread because of the title, can i suggest you start a new thread as its a new one on me?

I'm off to rest these old bones in the bath

Teekaylon

Superbiatch wrote: »

Of course I was glamping - is there any other way?

I really don't know the answer to your question, I think it might go missed in this thread because of the title, can i suggest you start a new thread as its a new one on me?

I'm off to rest these old bones in the bath

Ok Thanks anyway Superbiatch...enjoy ya bath and more to follow i guess when my creditors start throwing spears through my window i guess