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smoggy160179

My credit is a mess has been for years, I have just buried my head in the sand and ignored it. Time I sorted it but I need some help.

I have just registered for my credit report through Equifax and a lot of the debt I was aware of is not listed on it. Also a CCJ was registered against me in December at my previous address but I wasn't aware of it. What do I do?

Where do I find out exactly who I owe and how much, then I can begin to work out a repayment schedule.

Any advice would be appreciated.

Lee

NorthernSilver

Hi,

Just used the step change debt remedy tool. The tool asked for my debt commitments, Loans and their monthly amounts. Then it asked for my Credit Cards which I have three, it didn't ask for a monthly amount and at the end of the process the monthly amounts it gave for the credit cards were way out, by half at least. This then assumed I had spare cash to pay down debts which i'm struggling to pay. Any help Stepchange rep?

System

smoggy160179 wrote: »

My credit is a mess has been for years, I have just buried my head in the sand and ignored it. Time I sorted it but I need some help.

I have just registered for my credit report through Equifax and a lot of the debt I was aware of is not listed on it. Also a CCJ was registered against me in December at my previous address but I wasn't aware of it. What do I do?

Where do I find out exactly who I owe and how much, then I can begin to work out a repayment schedule.

Any advice would be appreciated.

Lee

Hi Lee,

It’s good that you’ve faced up to your debt you’re looking to repay it – it’ll be a massive weight off and you only ever have to repay the debt at a rate you can afford. We can help you with that.

Credit files can show different records – firstly I would try looking at another reference agency like Experian or Noddle to see if debts show up.

A possibility is that the debts you were expecting to see are more than six years old. A credit file only shows payment records for the last six years (this includes defaults as well as payments). Records older than this ‘drop-off’. These debts may be statute barred.

Statute barred debts are non-enforceable. If it has been six years since you paid a debt or had written correspondence (and they haven’t registered a CCJ against you) the debt becomes non-enforceable. Here is an article explaining that in full http://moneyaware.co.uk/2013/10/statute-barred-debt/

With the CCJ you need to send an N245 form ( http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n245-eng.pdf ) to your local county court. They will make a judgement of an amount to pay that you can manage.

We can give you the free, impartial debt advice you need to deal with your whole situation. We can go through a budget with you and recommend the best way to deal with your debts so you can pay everything off as quickly as possible.

To get that advice use our Debt Remedy advice tool or call us to speak to an advisor.

I hope this helps.

Jess

System

NorthernSilver wrote: »

Hi,

Just used the step change debt remedy tool. The tool asked for my debt commitments, Loans and their monthly amounts. Then it asked for my Credit Cards which I have three, it didn't ask for a monthly amount and at the end of the process the monthly amounts it gave for the credit cards were way out, by half at least. This then assumed I had spare cash to pay down debts which i'm struggling to pay. Any help Stepchange rep?

Hi there,

With the amounts per month for credit cards we estimate an amount based on averages – it may not be the exact amount you pay each month, it’s more to determine if you need debt help.

In your case if the amounts are showing as less than you pay we will need to update them. The best thing to do is call our Helpline on 0800 138 1111 (8am to 8pm Mon-Fri, 8am to 4pm Saturday) they will go through a budget with you and the amounts can be amended in your advice session.

Many Thanks,
Jess

Dmp-Steve

Hi I'm about to start a DMP with step change first payment due 10/03/14, having finally starting taking control of my finances. I have noticed I have lots of bank/credit card charges on my accounts also found out I had PPI with a credit card I wasn't aware of can I ask the companies to look at refunding these charges or will that have an impact on them accepting my reduced payments. I know they probably won't anyway but thought it might be worth trying ?

mum2one

Dmp-Steve wrote: »

Hi I'm about to start a DMP with step change first payment due 10/03/14, having finally starting taking control of my finances. I have noticed I have lots of bank/credit card charges on my accounts also found out I had PPI with a credit card I wasn't aware of can I ask the companies to look at refunding these charges or will that have an impact on them accepting my reduced payments. I know they probably won't anyway but thought it might be worth trying ?

As the old saying goes - if you dont ask you dont get - def worth a try,

Some companies may credit the account - this would reduce the amount of the debt, xx

StepChange_Private_Messages

Dmp-Steve wrote: »

Hi I'm about to start a DMP with step change first payment due 10/03/14, having finally starting taking control of my finances. I have noticed I have lots of bank/credit card charges on my accounts also found out I had PPI with a credit card I wasn't aware of can I ask the companies to look at refunding these charges or will that have an impact on them accepting my reduced payments. I know they probably won't anyway but thought it might be worth trying ?

Hi,

I just wanted to reiterate the good advice Mum2One gave you. There is no harm in trying to reclaim PPI or bank charges if you believe you have genuine reason to. Please don’t pay for a company to do it for you, you can do it yourself for free.

Here is an article explaining exactly how to reclaim PPI for free.

If you were to receive some money back it would be expected to go towards lowering the balances of your debts, helping you get debt free quicker.

Thanks,
Jess

JonathanStewart

Hello

A difficult situation has arisen. my father has run up debts of approx 55k via credit cards which his creditors say is not being paid off quickly enough. At the moment I believe he's paying approx. 100 PCM back. As a result of this his creditors are considering whether to try and compel him to pay of the debt through the sale of the house he lives in which is owned not by him but by myself and my mother.

Realistically is there any prospect of such an action being forced through the courts and if my mother was removed from the deeds and I was the only person on the deeds would that remove the threat? I have my own mortgaged property that I live in.

Thank you for any advice that you may be able to give me as I'm obviously concerned.

kieba

Hi, I really need some help please....

In 2007 I had racked up a lot of debt on credit cards and went onto a debt management plan. Last March (2013) I went into an IVA as I was approached by a sister company of the one I was with for my debt plan and they told me it would benefit me and would be a light at the end of the tunnel.


I now wish I hadn't. It is so restrictive, I can not better myself job wise etc and feel trapped.
I was approached by another company the other day telling me that the IVA is not the best thing for me as I have no assets, I don't own a home or car on HP etc. I was told that I can do a years bankruptcy and will be debt free and able to start getting a credit rating again within two years, rather than staying in the IVA for another 4 and then year to clear my name after.


I just don't know what to do. I am so upset that I done an IVA as it has stopped me being able to rejoin the police etc and feel that I want to get out of this mess asap so I can start living my life properly again and look at getting a mortgage etc, but worried that bankruptcy will effect me further.

Please help

System

JonathanStewart wrote: »

Hello

A difficult situation has arisen. my father has run up debts of approx 55k via credit cards which his creditors say is not being paid off quickly enough. At the moment I believe he's paying approx. 100 PCM back. As a result of this his creditors are considering whether to try and compel him to pay of the debt through the sale of the house he lives in which is owned not by him but by myself and my mother.

Realistically is there any prospect of such an action being forced through the courts and if my mother was removed from the deeds and I was the only person on the deeds would that remove the threat? I have my own mortgaged property that I live in.

Thank you for any advice that you may be able to give me as I'm obviously concerned.

Hi,

Even if your father lives in the house if he is not named on the mortgage his creditors cannot force a sale of the property through a ‘charging order’. However, it is possible for creditors of any JOINT debts (between your father and mother) to do this within the collections process. If the debts are in your father’s name solely that is not an issue.

Your father cannot be forced to pay any more than he can afford from his disposable income after his priority living costs have been paid in full.

I would strongly suggest he give us a call to go through a budget and get some free debt advice. If you’re both present we can speak to you - we just need his permission.

If you’d prefer you can use our confidential online advice tool – Debt Remedy for a personal action plan with clear advice on what he should do next.

Thanks,
Jess