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eonskispeed

For clarification purposes, after the creditor accepting and receiving my full and final settlement offer, I understand upon my request they will mark my credit file as that account now being partially settled. Will this show as a new entry or indeed affect my rating after being settled?

HarveyBride

I am currently looking at doing a DRO and wondering if this applys to me.
I am unemployed - stay at home mum. I am married my husband works full time.

I have debts from when I was younger that I ran away from (stupidly I know but was in an abusive relationship)

Now I am older and wiser I am ready to face them. All these debts were well before I met my now husband and I am wondering if his wages will now be used in having to pay them off?

My husband was in a similar situation when we met - he had his house repossessed due to his prev relationship breakdown and with his current account tied in with his mortgage - he started to have his wages and benefits we now get put into my account. So although we can prove all the money that goes into my account comes from my husband - it looks like I am getting a good wage!!

The only things in my name are the child benefit and my daughters child support. And the things we pay for out of this are school dinners, shoes and pocket money.

I have gone through the CCCS Debt remedy tool but its more of a general problem solver.

Hope someone can help

Former_StepChange_Rachel

sharpeyes66 wrote: »

It appears that when SC arranged my various payments, they agreed a sum to pay my £9k balance with Halifax which was some way above the minimum that I had been paying prior to any interest(I was on a 0% bal tfr deal) However once the first payment was missed, or late as SC payment was nearly 2 months after my last scheduled payment in, interest kicked in and Hx accepted our payments. Unfortunately now, Hx say that they have tfd the account back from collections to their standard card services dept and that the minimum payment is now only £5 plus any accrued interest. This means that the SC payment is more than the minimum payment on my statement and as such they feel I am not in financial difficulty so will keep charging std interest at 18.95%

I have written to them to ask them to reconsider and then spent 90 minutes on the phone today pursuing a complaint but with no resolution. They tell me there is nothing I can do, I'm just paying too much!! I have passed it to the Financial Ombudsman Scheme so will wait to see what they decide.

As this means only about £15 of my £148 payment is actually going to reduce the debt, if FOS don't find in my favour, could I remove the Halifax debt from my SC agreement and deal with that one on my own, reducing the payment below the minimum and triggering the option for them to look at reducing the interest as they say they would almost certainly do?

Hi there,

With this being quite a complicated situation, I think it's best that you give us a call and we'll talk you through what to do next.

Best regards

Rachel

Former_StepChange_Rachel

Puzzcat wrote: »

Hi, I am currently considering a dmp and have a question about banks and the offset rule with regards to my partners bank account. We currently both have sole accounts and a joint account with the same bank who are one of my creditors.
I am planning on opening a new sole and joint account with a non related bank.
My plan was to pay off the overdraft on the joint account and then close it. My sole account will become part of my dmp (od). If my partner keeps his sole account with this bank could his account be affected by the offset rule?
I would appreciate any help!

Hi there,

Once the debt on the joint account is cleared, then there should be no reason why the bank would dip into your partner's sole account in order to clear any debts in your name. You are entirely responsible for debts in just your name alone.

Hope this helps

Rachel

Cookiemonster24

My husband and I are seperating partly to do with our debts,my husband works full time but can't manage to pay all his debts/bills for the month,I am self employed but take no wage as its a new business.I owe money mainly to catalogue companies and 1 to HSBC for a credit card I had around 8 years ago.One of the catalogue companies and the bank I'm already on a payment plan,the catalogue I pay £75 a month to,no other charges,ie interest has been cancelled etc.The bank I pay £25 to,no other charges.At the moment I get child benefit and child tax credit for our 4 year old,which has been reduced by £10 a week due to my husbands wages from last year.When we seperate and I go onto housing benefit(our house is privately rented)where will I stand with my debts,I am worried about being able to afford them,along with general household bills.I also have a daughter who will be 18 mid August,she works full time but her hours aren't set?I know this will all effect my claim for benefit and the fact my young daughter will be 5 in October?Can you offer me any advice please,I don't have any savings so am worried what will happen?Thank you

Former_StepChange_Rachel

eonskispeed wrote: »

For clarification purposes, after the creditor accepting and receiving my full and final settlement offer, I understand upon my request they will mark my credit file as that account now being partially settled. Will this show as a new entry or indeed affect my rating after being settled?

Hi there

Once you've settled on the debt, the creditor will log this against the debt in question as 'partially settled'.

Hope this helps

Rachel

System

impulsive1 wrote: »

Hi,

I have requested my credit file and found that alot of my credit has defaulted approx 2/3 years ago. I have been considering whether or not to declare myself bankrupt but someone said that these would go after 6 years if they haven't chased me for the debt. I am hoping to go self employed in the future and would rather avoid going bankrupt. I have other credit that is being chased and I can arrange reduced settlements and try to pay them off. I just want to get it all sorted and tidied up as I am in a fairly new relationship and want to be able to settle down with someone new without the hassle of finances creating an argument or preventing us from buying houses etc.
Any advice would be grateful at this stage.
Thank you

Hi,

The Limitations Act 1980 states that the limitations period (the time a creditor can chase a debt) for unsecured credit debt is 6 years – if your creditors have not registered a CCJ against you or you have not accepted liability of the debt in the last 6 years then the debt is non-enforceable. But your debt is only at most 3 years old – it is likely the creditor will take further action against you within the limitations period. The best way to deal with all of the debt you have is to get free, impartial debt help.

Bankruptcy could be one option but there are likely to be more, a debt management plan for example.

We can give you free, impartial debt advice on the best way to deal with all of your debts. Use our confidential online tool, Debt Remedy or contact us to speak to a debt advisor. Based on your budget we can advise you on the best way to clear your debt.

I hope this helps.

Thanks,
Jess

System

Cookiemonster24 wrote: »

My husband and I are seperating partly to do with our debts,my husband works full time but can't manage to pay all his debts/bills for the month,I am self employed but take no wage as its a new business.I owe money mainly to catalogue companies and 1 to HSBC for a credit card I had around 8 years ago.One of the catalogue companies and the bank I'm already on a payment plan,the catalogue I pay £75 a month to,no other charges,ie interest has been cancelled etc.The bank I pay £25 to,no other charges.At the moment I get child benefit and child tax credit for our 4 year old,which has been reduced by £10 a week due to my husbands wages from last year.When we seperate and I go onto housing benefit(our house is privately rented)where will I stand with my debts,I am worried about being able to afford them,along with general household bills.I also have a daughter who will be 18 mid August,she works full time but her hours aren't set?I know this will all effect my claim for benefit and the fact my young daughter will be 5 in October?Can you offer me any advice please,I don't have any savings so am worried what will happen?Thank you

Hi,

With the credit debt you owe (catalogues and credit card) they are unsecured credit debt – they can only make you repay what you can afford. If after you separate from your husband you cannot keep up with the payments you have arranged now you should offer less.

They are only entitled to money you have left once you have paid rent, household bills, food and living costs. We can look at your budget and suggest the best way to manage your debts. The advice we give is free and impartial.

To get our help you can use Debt Remedy – our confidential, online tool. Or contact us to speak to a debt advisor. We have a welfare benefits team that can advise you on how your benefits should be affected by the changes in your situation.

I hope this helps.

Thanks,
Jess

Former_StepChange_Rachel

HarveyBride wrote: »

I am currently looking at doing a DRO and wondering if this applys to me.
I am unemployed - stay at home mum. I am married my husband works full time.

I have debts from when I was younger that I ran away from (stupidly I know but was in an abusive relationship)

Now I am older and wiser I am ready to face them. All these debts were well before I met my now husband and I am wondering if his wages will now be used in having to pay them off?

My husband was in a similar situation when we met - he had his house repossessed due to his prev relationship breakdown and with his current account tied in with his mortgage - he started to have his wages and benefits we now get put into my account. So although we can prove all the money that goes into my account comes from my husband - it looks like I am getting a good wage!!

The only things in my name are the child benefit and my daughters child support. And the things we pay for out of this are school dinners, shoes and pocket money.

I have gone through the CCCS Debt remedy tool but its more of a general problem solver.

Hope someone can help

Hi there

I'm glad that after everything you've been through that you're ready to face the debts you have and get them under control. Rest assured that we'll do all we can to help you.

You are well within your rights to seek advice based on your income alone. All you would have to do is think about what expenses your child benefit / child support goes towards.

I would say that if your husband is also dealing with debts from a previous relationship, it might be a good idea to look at his situation too so both of you can have a fresh start. This is of course at your discretion.

As you've already been through Debt Remedy, it might be a good idea to go through your budget with one of our advisors. Visit our Contact Us page for more information.

Hope this helps

Best wishes

Rachel

Paddocksguest

Hello,
This is my first time posting, so I apologise if I haven't correctly understood where to ask for your advise please.

I received a letter from RMA Resolve offering me a reduced settlement on a large debt which I have been paying regularly and without missing any payments. The settlement offer said that if I could pay £0.00 then the debt would be cleared and the Credit reference agencies notified that it had been settled.

I immediately telephoned them to accept the offer as per the instruction in the letter and had till the 16th July 2013 to do so. During this call, they said that the letter had been sent in error due to a technical IT fault and that they were not really offering this. I wrote to them explaining that as they were acting on behalf of their client, they had a duty of care to ensure that any correspondence they sent should be accurate and therefore they should honour their offer.

I have now received a further letter saying that it had incorrect information and that they were now offering 30% off the balance not 100%.

Does anyone know if I have any rights to hold them to their original letter and if it would be worth fighting for please?

Thank you so much for any replies or advice you can offer please.
Cheers,