My Story

Gingi1

Thanks everyone. Am already on CAG website.

Crazychik

Totally agree with the above mentioned ref contacting the CCCS, they helped me and my ex out tremendously 7-8yrs ago, when we hit rock bottom,

I didnt own as much as my ex, but I was finding I was robbing peter to pay paul, in order to help him out.

We contacted the CCCS on advise from the CAB, my ex was able to enter an IVA, but I wasn't in debt enough to do the same. Think back then you had to owe more than £10,000. Not sure if this remains the same.

Did you ask your creditors to freeze any interest on the accounts, through the period of reducing your monthly re-payments? Not all companies do this, some did with me, but the one's who didn't, I struggled with the most.

In the end, I declared bankrupcy, after 2yrs of struggling. The easy option I know, but Ive never looked back.

Hope you get it sorted, and try not to let it go to court. Good luck!

Gingi1

Thanks crazychik. I am thinking about bankruptcy - obviously as a last resort. At the moment I am negotiating my reclaim of bank charges, next on the agendy 'mis-sold PPI', followed closely by my complaint to the FO. When all of this is finished, I can look at the bigger picture and decide what to do.

One question for you experts, I owe FD £16000 (disputed figure) they are curently trying to settle my bank charges reclaim of £1800, when this is settled, can it be used to clear my missed five montly payments of £170 and the rest for future payments? Just to buy myself some peace and quiet whilst the other claims go through?

Thanks.

Crazychik

Hi, Im not sure how the money will be paid to you, as this is something Ive never done, but I would imagine and think that once you get the money - its your's to spend how you wish, whether a treat or help towards other payments.

Sorry - not much help

Verbatim

I think they pay it into your account with them so that your missed payments/overdraft is automatically reduced. Not sure tho' and if you asked for it to be paid into another account or by cheque perhaps they'd have to do that? Can you close your account with them so they'd have to send it elsewhere? But like credit cards, I expect you can't close the account while you still owe them.