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JC2

Barclaycard have sold on my default to a collection company. Barclaycard have marked the debt as 'satified'. On my credit report with the new collection people the account is still marked as 'default', even though I have not missed a payment since the debt was sold on. Is this permitted, since this looks like I have 2 defaults for what is essentially the same debt ? All help gratefully received J

MHW

Blueskies2014 wrote: »

This is a reply to MHW in post above. I don't know why it doesn't put the reply underneath the person's post when I am on their profile and click quick reply.

Hi there, if you google Experian you can get a free copy of your credit report. Regarding Santander, this has happened to me. I am having financial problems and I advised them, as instructed to by Step Change. They have instantly withdrawn my overdraft facility and stopped my account. My Jobseekeers Allowance payment has been swallowed up too. Just wanted to say I know what it feels like. I'm so upset!!

Hi BlueSkies - Needs a credit card to confirm identity and sign up for 30 day trial. I don't have one which is why I can't see it.

Yes Santander are a horrible bank as I actually tried to get them to just close it before they overdrew it. They basically refused requesting a lot of information I could not provide ( I was no longer in the UK). There must be a legality in this as I did not sign any agreement allowing them to change my terms and conditions or send them feedback to confirm I agreed. I am sure yours is a similar thing especially if your account was originally Alliance and Leicester as it was Santander that made these decisions without authority or discussion. With no "opt out" option.

troubledme

Hi

My husband and I are just in the process of seperating. We have 2 year old. He has always looked after paying the money including debts. We have a house that sold at a loss in joint names and this is not coming up on experian or exquifax but I assume it is around 80k. I believe he was paying £50 a month to this.

The credit check shows I also have around 34K unsecured defaulted debt. Im now not sure if he has been contributing to this.

My question is how can I get out of this without going bankrupt and how would I tackle the joint debt if he has no interest in clearing the debt?

Please help

StepChange_Private_Messages

changeforbetter wrote: »

Hi,

I've posted about this on another thread, but wondered if anyone could answer a specific query about my possible (not yet) DMP, thanks.

If I've never missed payments/defaulted previously, would this be a problem in setting up a DMP at all (i.e. can creditors argue that I'm not in difficulty with that as evidence)?

Many thanks.

Hi and thanks for your post.

We can see you’ve had some good advice from the forum.

If you’re setting up a DMP with us it doesn’t matter if you’ve previously never missed a payment. The budget we help you put together will be provided as evidence that you can’t meet your commitments to creditors.

We deal with lots of people with similar circumstances.

I hope this helps.

Kind regards,

Mat

StepChange_Private_Messages

Blueskies2014 wrote: »

I am very upset and stressed. I was told by Step Change to advise all of my creditors I am in financial difficulty. I didn't realise that by advising my bank that they would immediately withdraw my overdraft facility, which has happened.

I realised I had my facility withdrawn when I needed to withdraw some cash for a bus fare and could not withdraw any money. Then when I got home the letter from Sandanter was waiting.

It's left me with no money whatsoever and my Jobseekers Allowance payment which I was depending on has now been swallowed up by my overdraft and my balance is now £2335-. My overdraft allowance is now zero, they have stopped me using my card, my cheque book and cancelled my direct debit to my phone company and my standing orders to pay my rent arrears and other creditors.

I do have another unused bank account, which I will use now, but I can't get back my JSA payment and I have no money at all to live on for the time being. I think Step Change should be much clearer about what will happen when you advise your bank you are in financial difficulty.

My debt problem escalated after I was made redundant 2 years agao and I was already in debt. I have just done on and off temp work ever since, which has never been enough to pay the debt I owe. I had to move from my flat last year due to not being able to pay the rent. I have £18K of debt altogether over credit cards and 2 overdrafts.

Hi and welcome to the forum.

We’re really sorry to hear about this.

If you go into the bank and explain the situation regards your Benefits the bank should refund you the money without argument. If they do not, please contact us and we’ll help you with the process of getting that money back.

The important thing now is to get your Benefit paid into the new bank account and reset your other priority payments from the new account.

It’s also worth making a complaint to the bank, when you informed them of your financial difficulties they do have a code of practice that they must adhere to. And in your case they haven’t done this. You can find out how to complain about a bank here http://www.financial-ombudsman.org.uk/consumer/complaints.htm

If you need more assistance please call us on 0800 138 1111.

I hope this helps.

Kind regards,

Mat

StepChange_Private_Messages

MHW wrote: »

Looking for a bit of assistance. I am probably a bit of an oddity here in the fact I have been abroad for over 6 years. But when I left I had debts left (mainly accumulative debts from my ex partner). I have no idea how much is still owed and don't have a credit card to sign up with Experian to check. I have a few questions I am hoping someone can help me with.

1. How do i get a credit check with no credit card?
2. Are most of my debts likely to be impossible to chase through courts as they are all now older than 6 years but one?
3. The one debt that is under 6 years was Santander buying up Alliance and Leicester. They changed my account from £500 minimum balance to gain interest to £500 before they bill me for not using the account. I never signed a contract for this or agreed that they could do it. What can I do about this as they overdrew the account, refused to close it even prior to excess billing.

Any help on this matter is appreciated as right now I have 2 options -
1. I am looking to come back to the UK full-time with my wife and would like to rebuild our life here.
2. I just continue to appear and disappear as I work globally but seems a bit excessive with small debts (if they are small I can't see what I owe).

When I split with my ex I lost all mail contact as she cancelled me off the lease and mailing list. I had no residency even before I left the UK as I only needed roots for a family life. As most of the time I am living in hotels due to working in different areas constantly (Its why i have no idea what is owed).

Hi and thanks for your post.

It sounds like you would benefit from some free and impartial advice.

Firstly, you can get a statutory credit report for £2 without a credit card by writing a cheque or postal order - you can find more details here http://www.equifax.co.uk/efx_pdf/your_equifax_credit_file_0310.pdf and here http://www.equifax.co.uk/Products/credit/statutory-report.html#

Some of your debts could be what is known as statute barred, you can read more about that here http://moneyaware.co.uk/2012/02/can-you-run-away-from-your-debts/

As you’ll read in the article, it is possible your creditors may have gone for a CCJ in your absence. If you do find a CCJ on your file please contact us for more details on how to deal with it.

In regards the Santander account you need to complain to them in writing in the first instance and then to the Financial Ombudsmen Service if you weren’t satisfied with the response. You can find more details of how to complain here http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Staying out of the UK due to debts does seem extreme. We’re happy to help you find a debt solution should you return to the UK.

Get in touch if you need more advice.

I hope this helps.

Kind regards,

Mat

StepChange_James

JC2 wrote: »

Barclaycard have sold on my default to a collection company. Barclaycard have marked the debt as 'satified'. On my credit report with the new collection people the account is still marked as 'default', even though I have not missed a payment since the debt was sold on. Is this permitted, since this looks like I have 2 defaults for what is essentially the same debt ? All help gratefully received J

Hi JC2,

Thanks for posting. You shouldn't have two defaults registered against you for the same debt.

There's some information on page 19 of this document from the Information Commissioner's Office: http://ico.org.uk/~/media/documents/library/data_protection/detailed_specialist_guides/default_tgn_version_v3%20%20doc.ashx.

It may be a mix up with the two companies or it may be the way it's been recorded on your credit file. I'd suggest speaking to the debt collector and querying how they've recorded this default.

You should only have default on your credit history for this debt and the date should remain the same even if the debt changes hands.

I hope this helps.

James

StepChange_James

troubledme wrote: »

Hi

My husband and I are just in the process of seperating. We have 2 year old. He has always looked after paying the money including debts. We have a house that sold at a loss in joint names and this is not coming up on experian or exquifax but I assume it is around 80k. I believe he was paying £50 a month to this.

The credit check shows I also have around 34K unsecured defaulted debt. Im now not sure if he has been contributing to this.

My question is how can I get out of this without going bankrupt and how would I tackle the joint debt if he has no interest in clearing the debt?

Please help

Hi there,

It's hard to say what would be the best option for you without knowing the full details of your finances.

If you were looking at alternatives to bankruptcy then many people look at IVAs (which stands for Individual Voluntary Arrangement) or DMPs (debt management plan).

IVAs involve entering into a legally binding agreement to pay a certain monthly amount for usually between five and six years. If you make all of the payments then any debts left at the end are written off.

These can only work if you're able to make an offer to your creditors that the majority of them are willing to accept. An IVA specialist handles the negotiations and a debt advisor can give you an idea of your chances of success on this route.

DMPs are more informal payment plans, where you pay what you've got available after living costs are covered. The payments are divided up and offered to your creditors and they are asked to freeze interest and charges (they can say no to this).

DMPs don't lead to any debts being written off, so could mean making payments for many years (we only recommend them if you're able to clear your debts in a reasonable time scale).

You mention that you don't want to consider bankruptcy, but I'd suggest keeping an open mind about your options. There are some practical reasons why bankruptcy isn't a solution for everyone but if the circumstances are right then it can be a reasonable way to deal with debts.

I'd recommend using our online advice tool for more in depth advice. It takes about 20 minutes and will give you a personal action plan on how to sort out these debts. Here's the link: http://www.stepchange.org/msehelp.

It will be able to say whether DMP, IVA or bankruptcy suit your circumstances as well as considering all the other possible solutions.

Kind regards

James

troubledme

Hi James

Thank you for your response, I can't consider bankrupcy as i'm going through my ACCA qualifications to become an accountant.

I have read up on IVA but again if I do qualify what about the joint remainder of the mortgage we once had? Can I split it? Would I be able to include it? There would be not much point sorting out the rest of my debt if this one big one hung over my head.

I am going to start ringing the companies to see what arrangement if any he put in place but would like a plan

StepChange_James

troubledme wrote: »

Hi James

Thank you for your response, I can't consider bankrupcy as i'm going through my ACCA qualifications to become an accountant.

I have read up on IVA but again if I do qualify what about the joint remainder of the mortgage we once had? Can I split it? Would I be able to include it? There would be not much point sorting out the rest of my debt if this one big one hung over my head.

I am going to start ringing the companies to see what arrangement if any he put in place but would like a plan

Ah, that makes sense. There's some information about ACCA and bankruptcy/IVA here: http://www2.accaglobal.com/documents/financial_difficulties.pdf.

The expression they use for liability for mortgage shortfalls is "jointly and severally" which means that the company can chase either of you for the full amount if they can't get payment from the other person.

The shortfall would need to go into an IVA alongside all the other creditors and they'd be able to vote on whether they approve of it or not. Because they'll be the biggest debt by a distance, the IVA wouldn't be possible if they voted against it.

If you successfully completed an IVA then you'd no longer be liable for the debt but your ex could be pursued for the balance.

Kind regards

James