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StepChange_James

ab3927 wrote: »

Hello

Okay i have around 7k debt and this has gone on for a fair few years now, i completely ignored but have finally settled down and want to get a mortgage in a couple of years time with my partner.

My debt now lies with several debt collection agencies i have sorted out my own financial problems and have enough money coming in every month to pay back a lot of these by 7-8 months, now here's my question?

I was going to ring them up when i get paid every month and pay the settled amount as i get discount it will lower the amount of creditors that i have around 10-12 in all....shall i do it like this and i have read around that i can get them to remove it from my credit file prior to handing the cash over to settle it? is this true?

thanks

Hi there,

Thanks for getting in touch.

Your credit file is a sequence of facts about your finances, so companies shouldn't remove accurate information they've previously reported, so I doubt companies do that.

So I'd expect that you'll still have quite a bit of negative information on your credit history if these debts have been left for a long time. Obviously I don't know what's on there but I'd expect lots of missed payment records and defaults.

I've spoken to people in the past that have negotiated with debt collectors about how they report a full and final settlement onto a credit report. Some will update the file to say the account was partially settled (probably the most accurate) but others will say the debt is totally cleared. This might be what you've read about.

I don't really know enough about your finances to recommend the best option for you. Paying one debt off a month and ignoring the others completely would be risky though, as the other debts could apply for county court judgments to force you to deal with them.

I'd recommend that you get in touch with us for more in depth debt advice. Our online Debt Remedy tool will be able to give you a personal action plan that will recommend the best way to get out of debt: http://www.stepchange.org/debtremedy.aspx?domain=www.MoneyAware.co.uk.

I hope this is helpful.

Kind regards

James

happycrafter_2

Hi just wondering when the December statements are due out from stepchange.

StepChange_James

happycrafter wrote: »

Hi just wondering when the December statements are due out from stepchange.

Hiya,

They go out on the same date, on the 20th, but it's quite likely that they'll get caught up in the Christmas post and will arrive a bit later than usual.

All the best.

James

Vodafone

Susan_Sto_Helit wrote: »

Hi

Apologies for the length of the thread

My son took out a mobile phone contract (via Carphone Warehouse) with Vodafone (November 2012) - 24 month contract, Iphone4 £30 per month.

He "helped" a friend out, by transferring the account to her - this was done by going back to Carphone Warehouse and both parties filling in the relevant paperwork. - Assuming he was given a copy of the transfer paperwork, he has lost it.

He has not received anything further from Vodafone or Carphone Warehouse regarding the phone or contract.

Until now.

He has now received a letter from a debt collection agency stating that due to the unpaid bills, he now owes over £200.

He has contacted Vodafone who have confirmed that the account is showing the transfer paperwork from him, but nothing from his friend.

So now I am stuck.

We have written a letter to the debt agency, requesting a copy of the contract and he has asked Vodafone for copies of the statements, which they have provided in his name at our address - hard copies of these have never been received, so I can only assume they were sent to his friend electronically.

Assuming that the debt agency provide a copy of the contract, regardless of his "ownership transfer", I take it he is fully responsible for the debt and has to pay.

Needless to say:
1) their friendship had already broken down and it is unlikely she is going to pay in good faith
2) he has realised the error of his ways, but is now worried about paying the bill

Any suggestions on how I can help him to resolve this?

In addition to the debt, there is still 12 months of the contract to run, (at £30 per month) or a one off payment of £346 to terminate the contract early. Either way he has no phone to use on the contract (and its unlikely that she would return it to him)

Any advice would be really helpful - I have also posted in the main forum, but not had any response, so apologies for the duplication

Hi Susan Sto Helit,

It's just a quick post to let you know that I've replied to you here.

Thanks,

Lee

Web Relations

Vodafone UK

Witch1479_2

Hello,

Hope you can help.

I would like some advice if anyone can help. Please excuse my vagueness on details as i have buried my head in the sand for a number of years now in the hope that my debt issues would disappear so i am finding it difficult to remember everything.

I am currently on a DMP with one of my creditors being Alliance and Leicester. From what i can recall this was a personal unsecured loan and i have a statement with an outstanding balance of £1662.00 in 2010.

However this debt has now been bought by Moorcroft Debt Recovery for a balance of £3100.00. I think it obvious to assume that interest was still accruing with Alliance & Leicester and the DMP company could not get this stopped. Moorcroft Debt Recovery have also advised me that they will continue to charge interest on my account.

Unfortunately my monthly payment to them does not even cover the interest and the money i have been paying for the last 3 years has clearly not helped my situation and i am just getting further into debt.

I have wrote to Moorcroft to ask them to suspend the interest (still waiting a reply) as my DMP company do not appear to doing much for me at the moment.

I was just wondering if there was anything else i could do and if it is possible to get any of the interest charged from Alliance and Leicester back so i can pay this too Moorcroft?

I understand that i am also to blame for igoring my problems but i am now feel i have the confidence and ability to start dealing with these issues.

Any advice would be greatly appreciated

StepChange_James

Witch1479 wrote: »

Hello,

Hope you can help.

I would like some advice if anyone can help. Please excuse my vagueness on details as i have buried my head in the sand for a number of years now in the hope that my debt issues would disappear so i am finding it difficult to remember everything.

I am currently on a DMP with one of my creditors being Alliance and Leicester. From what i can recall this was a personal unsecured loan and i have a statement with an outstanding balance of £1662.00 in 2010.

However this debt has now been bought by Moorcroft Debt Recovery for a balance of £3100.00. I think it obvious to assume that interest was still accruing with Alliance & Leicester and the DMP company could not get this stopped. Moorcroft Debt Recovery have also advised me that they will continue to charge interest on my account.

Unfortunately my monthly payment to them does not even cover the interest and the money i have been paying for the last 3 years has clearly not helped my situation and i am just getting further into debt.

I have wrote to Moorcroft to ask them to suspend the interest (still waiting a reply) as my DMP company do not appear to doing much for me at the moment.

I was just wondering if there was anything else i could do and if it is possible to get any of the interest charged from Alliance and Leicester back so i can pay this too Moorcroft?

I understand that i am also to blame for igoring my problems but i am now feel i have the confidence and ability to start dealing with these issues.

Any advice would be greatly appreciated

Hello,

Thanks for posting. It's great to hear that you're feeling confident enough to take on your debt. That's always something that will help you.

If you're not sure on exactly what happened with your account it might be worthwhile to contact Alliance and Leicester (now Santander) and request a statement breaking down how they've come to the current balance.

Once you've got more information on it you can then see if there's anything untoward or inaccurate on there. This will make it easier to go to them and request specific charges be removed and to give them reasons why you think anything on there is wrong or unfair.

There's not guarantee that they'll be willing to refund anything they've added onto the debt but it does happen, particularly when it's clear that charges have been added inaccurately or unfairly.

If you were to make a complaint and were still unhappy after it was investigated you could then involve the Financial Ombudsman Service (but you've got to have complained to the original company first before they'll take your case on).

I notice in your message that you're using a debt management company to deal one of your debts, suggesting there might others too.

We always recommend getting advice on looking at your finances as one big picture, rather than dealing with each debt individually, as that way you can make sure you're able to get them all sorted out.

We can help you by giving you advice about the available options and if a Debt Mangement Plan is the best option for all of your debts then we can set one up for you that's completely free.

The first step is to use our online Debt Remedy advice tool: http://www.stepchange.org/msehelp and then we'll guide you through our budgeting process and provide you with a personal action plan to get things sorted out.

Kind regards

James

jackelliot

Hi all, some advice required please. I have been on a DMP for 2 years now to clear what I class as "significant debt" to various establishments! As I already read in this forum, Barclaycard are tremendous. I've not heard a peep from them for 2 years, they send me a statement and charge me minimal interest on a £9k debt!! Stunning!! LloydsTSB also deserve praise for the way the have managed my debt with themselves. They have requested info every 6 months to keep things in order which I have honoured and they have been great!! Halifax on the other hand are !!!!!!!s!!!!!!!!! They want to charge me £30 a month to manage my overdraft through to the point where I can shut my account (my DMP only pays it £50/month - £1600 outstanding!!). My credit card is at £1200 and after interest goes on, I am paying this off at a rate of £4 a month!!!!!!!! (Barclaycard charge me LESS interest than Halifax yet I owe them 9 times as much money - go figure!!!) And finally, my Personal Loan with the HALIFUX!!!! I owe them MORE now than I did 2 years ago when I started this process and I see no end in sight with it!!! I took out the DMP to make me feel better and stop worrying about stuff but now, 2 years on, I am back to thinking I will NEVER be debt free!!

My problem is this.......I have, for the past 2 years SOA's for the DMP been quite tight on my behalf. i.e. I've probably under quoted what I actually spend on things. This has allowed me to pay a bit more than I can actually afford and allow me to clear the debt a bit quicker (or so I thought)!!!! During this period, I have not had a night out (turned down a couple of weddings and stag parties of some people who were close friends). I am running a car that needs urgent work on it but can't afford to get the work done (I won't allow my kids to travel in the car as I don't trust it - I need it for work!) And so on and so on!!!

I have spoken to the Halifax and they won't freeze the crippling interest on the loan or stop the charges on the account or drop the interest payments on the cc as they have "agreed" to the proposal from my DMP provider!!!

Now for next year, I am thinking "balls to all this crap!!" If I go to my DMP with a SOA that means the proposal to the Halifax is so poor, they won't possibly accept it, will I be in a position to ask them to freeze interest and charges???? However in doing this, my payments to Barclaycard and Lloyds TSB will also be reduced and I run the risk of upsetting the good guys???

The question is..........Should I go away and reassess my SOA and throw a few figures into some areas in order to make my ability to pay look shocking?? At least that way I can afford a new tyre for my car or maybe a beer with the wife in some different surroundings than my front room!! (We have tried having a drink in the kitchen, if only to look at different wall paper-but the chairs aren't that comfy!!!)

Any help, greatfully appreciated!!!!

System

jackelliot wrote: »

Hi all, some advice required please. I have been on a DMP for 2 years now to clear what I class as "significant debt" to various establishments! As I already read in this forum, Barclaycard are tremendous. I've not heard a peep from them for 2 years, they send me a statement and charge me minimal interest on a £9k debt!! Stunning!! LloydsTSB also deserve praise for the way the have managed my debt with themselves. They have requested info every 6 months to keep things in order which I have honoured and they have been great!! Halifax on the other hand are !!!!!!!s!!!!!!!!! They want to charge me £30 a month to manage my overdraft through to the point where I can shut my account (my DMP only pays it £50/month - £1600 outstanding!!). My credit card is at £1200 and after interest goes on, I am paying this off at a rate of £4 a month!!!!!!!! (Barclaycard charge me LESS interest than Halifax yet I owe them 9 times as much money - go figure!!!) And finally, my Personal Loan with the HALIFUX!!!! I owe them MORE now than I did 2 years ago when I started this process and I see no end in sight with it!!! I took out the DMP to make me feel better and stop worrying about stuff but now, 2 years on, I am back to thinking I will NEVER be debt free!!

My problem is this.......I have, for the past 2 years SOA's for the DMP been quite tight on my behalf. i.e. I've probably under quoted what I actually spend on things. This has allowed me to pay a bit more than I can actually afford and allow me to clear the debt a bit quicker (or so I thought)!!!! During this period, I have not had a night out (turned down a couple of weddings and stag parties of some people who were close friends). I am running a car that needs urgent work on it but can't afford to get the work done (I won't allow my kids to travel in the car as I don't trust it - I need it for work!) And so on and so on!!!

I have spoken to the Halifax and they won't freeze the crippling interest on the loan or stop the charges on the account or drop the interest payments on the cc as they have "agreed" to the proposal from my DMP provider!!!

Now for next year, I am thinking "balls to all this crap!!" If I go to my DMP with a SOA that means the proposal to the Halifax is so poor, they won't possibly accept it, will I be in a position to ask them to freeze interest and charges???? However in doing this, my payments to Barclaycard and Lloyds TSB will also be reduced and I run the risk of upsetting the good guys???

The question is..........Should I go away and reassess my SOA and throw a few figures into some areas in order to make my ability to pay look shocking?? At least that way I can afford a new tyre for my car or maybe a beer with the wife in some different surroundings than my front room!! (We have tried having a drink in the kitchen, if only to look at different wall paper-but the chairs aren't that comfy!!!)

Any help, greatfully appreciated!!!!

Hi,

I saw this and thought I could offer some advice.

I’m not sure if you’re on a DMP with us (StepChange Debt Charity) or not. If not our DMP’s are free so you would be paying all of your monthly amount off your debt. To see what the best solution is for you, you can use our confidential advice tool Debt Remedy. Based on your budget it will recommend the best solution.

Sadly creditors don’t have to freeze interest, they can choose to as a gesture of good will because you’re showing them you’re paying all you can.

I understand it can be frustrating that one creditor hasn't stopped interest charges but by offering all you can you’re clearing the debt as quickly as possible. Halifax could stop interest in the future but if you were to drop the payment to they may be less likely to. And because you’re paying less each month, it would take longer to pay off the debt.

If you’re on a DMP with us give us a call and we can have a chat about your budget. We would have used the amounts you gave us at the time. If you’ve genuinely ‘under-quoted’ what you spend on things you can call in to discuss it. You should only be offering what you can afford.

I hope this helps.

Cheers,
Jess

Beginagain

Hello, I completed the debt remedy on the StepChange website and sent the information they requested by email (proof of income, account numbers of creditors and budget) last week and I just wondered how long it normally takes for SC to contact me regarding my request for a DMP?

I know it was only a week ago but I am getting anxious about whether my DMP will be accepted and would like to know how long it usually takes for a DMP to be set up please?

I have cancelled the direct debits and standing orders to the credit card companies and cut up the cards. I am also in the process of writing to them all and will include the budget sheet and list of creditors and amounts I sent to SC.

Is anyone able to help with my queries at all please? I am determined to get this debt paid off!!

Thanks in advance.

creepingdeathtopaydaylend

fairly simple question i'm hoping.
i was one of the lucky students whose loans with the SLC occurred before major procedural changes.
i believed that i would pay nothing till my earnings rose over a threshold and as a careless youngster promptly forgot about them.
with no malice or genuine deception i moved many times over the next few years..as youngsters do and in the process lost all contact with the SLC. years later, and a little wiser i realised that 6 years had passed and with no communication the debt was 'statute barred' and after sending several cease and dessist letters received confirmation that the debt was no longer live and i would recieve no further communication/demands......lucky (and in all honesty completely immoral) me...
......now either fate works for the inland revenue or karmas got a sense of humour.....while having a friendly chat with an individual at the HMRC this morning to discuss a payment schedule for some debt.....I had the rug pulled out from me and was informed of overpayments i had received dating from 2005 of which i was completly unaware.......
needless to say my lips clammed shut at this point and i made my excuses to end the conversation. my question therefore is this....DO TAX/OVERPAYMENTS FROM HMRC FALL UNDER THE SAME STATUTORY LEGISLATION (6 YEAR EXCLUSION)....in that I can apply my previous logic to this case?
And to further complicate things if I hold a current debt of £1500 approx which I am paying on scheduled basis and I attempt to rely on the law it stands to reason that they could become very 'difficult' perhaps cancelling my plan and demanding the principal in full?

any thoughts......