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Gorbals

being made redundant on the 27th jun. redundancy pay of circa 9k debts of circa £4500 cc £ 700 overdraft.also small hp agreement of £36 pm about £780 still to pay. no savings or spare cash. staying in a new built house mortgage of £50k although I pay in my wages the house is in wife and daughters names. the redundancy pay will need or most of it will need to be used help keep a roof over our heads ! will my creditors except part payment ? I am in Scotland if that makes a difference due to law. tia.

Former_StepChange_Rachel

Gorbals wrote: »

being made redundant on the 27th jun. redundancy pay of circa 9k debts of circa £4500 cc £ 700 overdraft.also small hp agreement of £36 pm about £780 still to pay. no savings or spare cash. staying in a new built house mortgage of £50k although I pay in my wages the house is in wife and daughters names. the redundancy pay will need or most of it will need to be used help keep a roof over our heads ! will my creditors except part payment ? I am in Scotland if that makes a difference due to law. tia.

Hi there Gorbals, thank you for getting in touch with us.

I'm sorry to hear that you'll be made redundant later this month. It's really important that you prioritise your living expenses and those of your family. When it comes to your creditors, they are only entitled to the income you have left over once your living expenses are paid.

Please take a look at our redundancy guide which you should find useful:

http://www.stepchange.org/Debtinformationandadvice/Lifechanges/Redundancy.aspx

I think it would be a good idea for you to get in touch with us for some free and confidential debt advice. We can have a look at your budget and give you the debt advice and support you need. We can provide debt advice for people specifically living in Scotland too.

Our online advice tool Debt Remedy can provide a solution for your debts in just 20 minutes: http://www.stepchange.org/debtremedy.aspx?domain=www.MoneyAware.co.uk

Alternatively, find out how you can speak to one of our friendly advisors via our contact us page:

http://www.stepchange.org/Contactus.aspx

Wishing you best of luck

Rachel

Hoopsah

Hi

Really hope you can offer some guidance and advice please.

I am currently in debt to the tune of 25K, this is through 2 loans (1 for new double glazing and one that was trying to pay a credit card debt) the 2 loans amount to £7927

On top of that I also have £13,800 spread over 5 different credit cards.

I have looked through the stepchange website and the DAS website (Which is not very helpful)

I currently take home £1762 per month.

I am married, living with my wife and 1 toddler in a mortgage home.

I am at my wits end now. I know the problems were all mine but I really want to try and get them resolved.

Any help appreciaited

Former_MSE_Andrea

Gorbals wrote: »

being made redundant on the 27th jun. redundancy pay of circa 9k debts of circa £4500 cc £ 700 overdraft.also small hp agreement of £36 pm about £780 still to pay. no savings or spare cash. staying in a new built house mortgage of £50k although I pay in my wages the house is in wife and daughters names. the redundancy pay will need or most of it will need to be used help keep a roof over our heads ! will my creditors except part payment ? I am in Scotland if that makes a difference due to law. tia.

Hi Gorbals

Our Redundancy Guide will hopefully help you too.

amanda1010

hello,

Back in 2008 i took a loan with alliance and leciester for £9,500. i was then unable to pay my loan from the end of 2008. they were chasing me for a while and then passed it onto a debt collecions agancy who in march 2009 sent my solicitor who was helping me at the time a signed letter stating 'i can confirm the above account has been written off and your client amanda ****** has been absolved of any liability towards the account'. In july 2008 alliance and leciester contacted my solicitor stating this letter was sent in error by an inexperienced member of staff and confirmed i still owe the debt. since then i have not been contacted by them (i have moved home a few times) i have signed up with noddle and can see they are still defaulting my account with them every month even though i havent contacted them (through my solicitor) since the end of 2009. What are my rights? how do i know when they will stop defaulting my credit file? or when the loan will be removed on my credit file?

thanks

System

amanda1010 wrote: »

hello,

Back in 2008 i took a loan with alliance and leciester for £9,500. i was then unable to pay my loan from the end of 2008. they were chasing me for a while and then passed it onto a debt collecions agancy who in march 2009 sent my solicitor who was helping me at the time a signed letter stating 'i can confirm the above account has been written off and your client amanda ****** has been absolved of any liability towards the account'. In july 2008 alliance and leciester contacted my solicitor stating this letter was sent in error by an inexperienced member of staff and confirmed i still owe the debt. since then i have not been contacted by them (i have moved home a few times) i have signed up with noddle and can see they are still defaulting my account with them every month even though i havent contacted them (through my solicitor) since the end of 2009. What are my rights? how do i know when they will stop defaulting my credit file? or when the loan will be removed on my credit file?

thanks

Hi,

The Statute of Limitations on an unsecured credit debt is 6 years from the last payment made or of the last written correspondence where you admitted liability.

Here is an article explaining how to check a debt is statute barred and what to do next http://moneyaware.co.uk/2013/10/statute-barred-debt/

You would need legal advice over whether the letter you were sent has any legal implications for your liability to pay – it may well be seen by a court as sufficient.

Even if a debt is statute barred (passed the limitations period) you still owe the money, and can chose to pay it back, but your creditor cannot enforce you to do so through the courts. At that point you would be able to lodge a defence on the basis the debt is not enforceable.

A default notice is sent to you when you are between 3 and 6 payments behind. The credit agreement is placed into default and the debt is generally passed to collections. The recent records on your credit file are to show you’re behind with payments – if the debt is found to not be enforceable you can ask for a note of correction to be added to your file explaining the period of arrears.

Read the statute barred article and then contact your solicitor for advice.

I hope this helps.

Thanks,
Jess

StepChange_Pavan

kaybee15 wrote: »

Hi again

I spoke to StepChange as advised, and they were very helpful - the advisor was shocked that the repo order had not been taken up for over a year, as he has never encountered that before. We are now looking to sell our property to one of the 'we buy any house' type companies for a quick sale. Two final questions if I may - firstly, can we sell the property as the repo order has not been enforced? Secondly, should I contact the company (Excel) who have been assigned to our case or deal with the bank directly?

Any assistance again much appreciated.

Hi again.

As it’s such an unusual situation I’d recommend that you speak with Excel to find out where you stand. As James mentioned it looks as though they might be trying to come to an agreement with you to prevent the repossession.

If you need any more detailed advice, please give us a call.

I hope this helps,
Pavan

StepChange_Pavan

Hoopsah wrote: »

Hi

Really hope you can offer some guidance and advice please.

I am currently in debt to the tune of 25K, this is through 2 loans (1 for new double glazing and one that was trying to pay a credit card debt) the 2 loans amount to £7927

On top of that I also have £13,800 spread over 5 different credit cards.

I have looked through the stepchange website and the DAS website (Which is not very helpful)

I currently take home £1762 per month.

I am married, living with my wife and 1 toddler in a mortgage home.

I am at my wits end now. I know the problems were all mine but I really want to try and get them resolved.

Any help appreciaited

Hi there and welcome to the forum

You’ve come to the right place for help as we can give you free and impartial advice on your situation. We’d need to look at your circumstances in a bit more detail to be able to suggest a solution.

I’d recommend that you visit our online debt advice service Debt Remedy (http://www.stepchange.org/msehelp) to help you find a solution to your debt problem quickly.

Alternatively you can ring our Helpline on 0800 138 1111 (free including from mobiles). We’re open Monday to Friday 8am - 8pm and Saturdays 8am – 4pm.

I hope this helps,
Pavan

gerhard

Totally agree with you about Halifax!!!!

J1000s

Hi! I wonder if anyone can help with this.....
10 years ago I took out a credit card, it had a limit of £750. After I tool it out (with HBOS) I got a phonecall from someone there who really pressured me into takin out PPI- being only 18 I had no idea what they were talking about so I just agreed.
Anyway I didn't even use the whole credit limit but the PPI and charges quickly began to add up and soon I was over my limit, adding more charges etc etc. Soon they were saying owed something like £1800! I didnt pay it then around 4 or 5 years later a debt collection agency started really harrasing me and after a phone call i was basically forced to set up a payment plan of £25 a month which at the time I could barely afford. This went on for over 3 years, I payed more than £1000 of it, then when my card expired about a year ago the payments stopped coming out. I just left it as I has already payed more than even the limit of the card. Then recently I have again been bombarded with letters from these debt collection agency, saying I owe over £800. As ypu can imagine i am so fed up with this it has been 10 years and this is money I did not even spend- it is ALL charges, PPI etc.

I dont know what to do if anyone has any advice please help me!

(I am in Scotland)