dont know where to start

stewil18

Removed so as not to hijack the thread

heyboots

stewil18 wrote: »

Don't worry about the un-secured debts? Very irresponsible in my opinion, do you believe you shouldn't pay for what you borrowed? I don't imagine a gun was held to your head when you signed for the loans/cards.

The 21st Century - welcome to the world of its not my fault.

I just took it to mean that there's a higher level of concern with secured debts, not that I shouldn't pay them. In any case The Citizens advice bureau told me that banks etc can and do still come after your house for unsecured debts and they are seeing an increase in this due to the amount of defaults.

I dont think I've laid the blame anywhere BUT myself on this thread.

Can anyone answer, HOW a debt is validated and what the point of this is?

Time_to_face_the_music

heyboots wrote: »

I just took it to mean that there's a higher level of concern with secured debts, not that I shouldn't pay them. In any case The Citizens advice bureau told me that banks etc can and do still come after your house for unsecured debts and they are seeing an increase in this due to the amount of defaults.

I dont think I've laid the blame anywhere BUT myself on this thread.

Can anyone answer, HOW a debt is validated and what the point of this is?

Stewil18's comment was aimed at thegasman01, not at you heyboots so please don't think anyone was getting at you.

Some people prefer to avoid their debts and look for ways not to pay them. That is what thegasman01 was referring to and stewil18 commented on.

Personally I don't think thegasman01 is new at all, his comments and spelling are far too similar to another poster who spouts this sort of stuff.

stewil18

Sorry boots, that wasn't aimed at you at all....it was at gasmans comments, the pride in which he diddled the system riled me and i apologise for commenting in such a fashion......i'll delete

thegasman01

Dont worry, their threats went on for months, wish i was clued up then as i am now.
1) Just ask them (in writing, NO SIGNATURE) to validate the debt, to prove its for real. Without it, they cant take you through court. Whats stopping me from saying you owe me money, i could send letters, but without proof you can tell me to S*D off. Its even better when they sell the debts on in the future, because they forget to send the origional documentation. Look up debt validation letters.

2)If you can only afford say £1, then offer that amount, pay it by Standing Order, and dont worry.

3) They can ONLY send a bailiff, WHEN it has gone through court. AND you fail to keep to your agreed obligation with the court.

4) If you can only afford a £1 token payment, then there is little they can do and it wont go to court. Send each creditor (which has validated the debt), a financial breakdown giving your excess income, say £10 per month. They may threaten you with court, but it will not be good for them either because the amount is fixed, If its £1, then thats all they will get for years and years. As in the example below the court would take your £10, and thats it.

Example debts
Creditor A £5000
Creditor B, C, D, E, and F £1000 each.

Creditor A, gets £5 and the rest get a £1 pound each as a percentage of verified debt amount.

Secured debts are a little more complicated, but under normal circumstances they may consider a lower payment, until things get better. Just write to them and explain the situation.

Once your behind on a payment, your credit rating will go to the wall anyway, so dont be worried, their are HUNDREDS of people going under every day, and your certainly not alone.

Now after 8 years, I am GLAD it went wrong, because now I am not a slave to the financial system. Quite a few creditors got fed up because they could not collect, I even now get the odd letter, which i send back to either validate, and or mention its over 6 yrs old and is Statute Barred..NON of my debts went to court.

Remember though, some debt advisory schemes are funded by the creditors. All you can do is, dont worry, offer what you can and keep to that payment plan by Standing Order only. Its an acceptable way to pay and state that in your letter. Dont be duped into making telephone card payments because it costs, costs more than you think.

DONT EVER TALK TO THEM ON THE PHONE....EVER. DO EVERYTHING BY LETTER, Admit to NOTHING unless they prove otherwise

thegasman01

Time_to_face_the_music wrote: »

Stewil18's comment was aimed at thegasman01, not at you heyboots so please don't think anyone was getting at you.

Some people prefer to avoid their debts and look for ways not to pay them. That is what thegasman01 was referring to and stewil18 commented on.

Personally I don't think thegasman01 is new at all, his comments and spelling are far too similar to another poster who spouts this sort of stuff.

No I am new to this Forum, and no its not worth getting worried about the debts. The stress is terrible and does not help in any way. What I said is true, and if you cant afford to pay then its good advice. Pay what you can when you can. whats bad about that ?

stewil18

thegasman01 wrote: »

No I am new to this Forum, and no its not worth getting worried about the debts. The stress is terrible and does not help in any way. What I said is true, and if you cant afford to pay then its good advice. Pay what you can when you can. whats bad about that ?

Have you looked at heyboots SOA?

What I see is somebody who with a little tweaking will smash her debts responsibly, not weasle out of it the easy way.

heyboots

stewil18 wrote: »

Sorry boots, that wasn't aimed at you at all....it was at gasmans comments, the pride in which he diddled the system riled me and i apologise for commenting in such a fashion......i'll delete

Sorry - i'm a bit oversensitive, been up and down every day! one minute feeling positive, the next despair! I suppose that's normal, I dont like not being in control. To be honest I feel guilty at asking them to freeze interest, never mind not pay it! I signed up for it, im not incapable, I *knew* what i was doing (although i wish id had a crystal ball to see how things are now!)
I think im just AMAZINGLY good at deluding myself it will all be ok!

Reality checks are good for me!

jumperjohn

Hello. This maybe simplistic but why not sell the house? Pay off the mortgage and loans which leaves 36k for a deposit for a new house. Or have a break and rent for a year, ave savings and enjoy your earnings and save a little.

heyboots

had another sickening realisation, my mint credit card has been at £5200 for 4 years, during those 4 years ive paid £117 per month, thats £5616 and not spent a penny on the card - the balance? £5200 :(that means even if the interest is frozen i'll pay back £10816 on a credit card that was 6% interest when I took it out (now 29%) what an idiot I am...