Creditors Not Willing To Help

soutram

Hi

Ive received a letter this morning from Very and Isme saying the are not able to acept my offer of payment, I phone them to see why and they say the offer is to low & they want £47 a month on each account or I can take a loan with them for £120!

She said there is nothing they can do to help me and they are going to keep charging me interest and missed pament fees!

What do I do now

Cheers
Sarah

mellonicoley

I would just keep paying them what you can afford. They can't really do anything about that!

Someone else will come along with more constructive advice I'm sure

give_them_FA

Tell them it's that or nothing at all as you will divert your payments to more reasonable creditors who are willing to help you. And leave the ball in her court. She will soon "speak to her supervisor"! Take a loan with them? What???

soutram

Right well I received letters this morning from two creditors saying they will accept my payment plan but also received a letter from Lloyds asking me to ring them.

After a long conversation and telling them yet again my outgoings (even though I sent it to them) they said yes we can help if you take out this loan with us with 10% apr at £144 a month :eek: I said that was more than I could afford & they said thats all we can do for you.

So thats two creditors now trying to sell me loans & when I say no they say there is nothing else they can do to help me!

Proper struggling to get this sorted

Any advice

Sarah

brettcooper1

HI Sarah,
Just wanted to wish you all the best with it.
Infuriating sometimes how these institutions cannot seem to see that somebody has seen the light, realised they need to get somewhere with their debt and is making a genuine effort, and in most cases quite severe sacrifices, to try and accomplish this. All they want to do is get you in more and more trouble. Adding debt to debt is not the option.
With "FA" on this one, call their bluff? Say you'll divert the money away to other creditors?
Also, maybe it would be worth informing the FSA/ Ombundsman as their behaviour seems unreasonable.
Hope it all is OK

rossireps

you pay only what you can afford. i know its easy for me to say but they can stick it. as long as your debts are credit cards or catologues etc theres not much they can do. dont be threatened by lloyds for example,they were a bigger creditor of mine and argued the toss with me for 3yrs. i paid them £1 a month. after 3 yrs of them threatening and doing nothing more than letters im now free of them.

Allypops

Sarah,

Are you self-managing your DMP?

I wonder if sometimes they try it on a bit more if you are self managing? Did you do the CASHflow income and expenditure statement via National Debtline where an adviser takes you through the statement so that creditors can see you have had debt advice. I think then it is then more likely to be accepted as it is in the accepted common financial statement format and has been overseen by a trained debt adviser. I think there are some self-managers around on here that use CASHflow.

Are there any parts of your Income and Expenditure Statement that might go above the accepted levels (trigger figures). That might make them less likely to agree but then again they could be just trying to get more than their fair share (especially Lloyds - my nightmare creditor at the moment).

Perhaps go back to National Debtline and ask them what you can do next. In the meantime just pay them what you can afford.

Ally

carlislelass

C*p one were our nightmare, some accepted while others took a while but did eventually

Coco_H

I had the same problem with littlewoods and co, they where a right pain, wrote letters explained my circumstances, paid them what I could afford they wouldn't budge, put loads of interest and charges, sent their red letters from there in house collection agency after nearly 18mths they finally sent my accounts over too a debt collection agency, all interest stopped and I pay fiver a month more manageable for me, they really can't do very much, they are low priority debts.

Write them a letter, explain your circumstances and make a offer you can afford even if its just £1 a month for the moment and send them a incomes and outcomes expenditures list, print your name never sign anything with your signature, insist all communications are in writing, not worth calling them, they won't help and probably cause more stress, send the letter by recorded delivery as you will have proof they will receive it, there are a few templates you can use online.

the charges and interest you might be able to claim back so it mite be worth having a look into that, all so there is some other things you can do, like if you open your account before a certain time, if they can't find your credit agreement then it could put your account in dispute but I would have a look on Google for more information there are loads more people that have to deal with theses cretins.

Most important thing is don't panic or stress, they send their pathetic letters about sending doorstops collecters to your house, they cannot do anything they have no legal right to enter your house at all, they are not bailiffs, if you don't feel ready to do this on your own then I would recommend contacting one of the free debt charities that specializing in helping people in debt they can offer more advice and help, there is CAB and CCCS that can give you more precise advice, I wish you the best with it.

happy_bunny_2

Some good advice above.

Always deal in writing, as they will tell you things on the phone they will never put in writing and it also gives you evidence should you need it later.

Out of interest, how old is the very account? If pre 2007, worth asking them for a copy of your credit agreement, as they may not have one and that puts you in a stronger bargaining position.

Maybe submit a formal complaint to anyone you think is being unreasonable (in writing, signed for). Offering you a loan does not sound like good advice to me, especially after you told them you couldn't afford it. I bet they won't put that in writing.

Good luck

HB

soutram

Hi all

Thanks for all the advice, I was trying to do a self managed DMP but a running into more problems than I expected to, dont get me wrong I knew it would be plain sailing but I was not expecting to get a "either take out a loan with us or tough" responce.

I did a financial statement through my money steps and sent it to them all, (used letters from national debt line) I kept everything as low as I could so they couldnt say you can cut costs here etc, Lloyds sent it back to me and then made me go through it all again on the phone, at the end she said well if you take the loan with us you will be minus £40 each month but I expect you could pay less rent or something to cover that - CRAZY

Crazy how some creditors say ok thats fine your payment plan is now in place & others just dont care.

I think I will write to littlewoods and see about my credit agreement, the account is way older than 2007, if they dont have it what does that mean?

Thanks again
Sarah