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Welshgirl77

Am wondering if a non-home owner can have an iva and if they have previously had one which has now been played off can they have another one?

Former_StepChange_Richard

Welshgirl77 wrote: »

Am wondering if a non-home owner can have an iva and if they have previously had one which has now been played off can they have another one?

Hi there,

Thanks for posting.

People who don't own a home can have an IVA.

If a person has had an IVA previously, depending on the outcome of this, it could affect them getting a new one. If the previous IVA failed, sometimes in the proposal of a new IVA, creditors will want an explanation for why it failed.

I think you you've said that in this instance, the person had paid off their previous IVA. This person would certainly be able to apply for a new IVA. There's no set time limit to apply for a new one, but during the proposal of a new IVA, the creditors may ask why the person needs another.

Our website has more detail about an IVA that may be useful for you.

I hope this helps.
Richard

mon2016

Hello, I took out a loan with Quick Quid when I already had pay day loans from a couple of other companies, however I had said that I had no other loans when I applied as it was the only way I would have got accepted, this was stupid I know but we all do stupid things.
I have been struggling to pay back the quick quid loan and so I told them that, they said I have to send them a statement of my income and expenditure, I will have to include my other payday loan bills in this. Will this get me into any trouble? I remember reading during the application process that it was a crime to give false information, though maybe i imagined this, i'm not sure.

StrawberryKiwi

Hi there, I'm looking for some advice on car ownership and repossession. Unsure if I'm in the right place but I don't know where else to find correct and straightforward information.

Can a car be repossessed from the registered keeper of the car?
Eg, Miss A is the registered owner and Miss B is the registered keeper. Can the car be repossessed from Miss B by a debt collector even though the owner is Miss A?

Hope this makes sense,
Thank you

Former_StepChange_Richard

mon2016 wrote: »

Hello, I took out a loan with Quick Quid when I already had pay day loans from a couple of other companies, however I had said that I had no other loans when I applied as it was the only way I would have got accepted, this was stupid I know but we all do stupid things.
I have been struggling to pay back the quick quid loan and so I told them that, they said I have to send them a statement of my income and expenditure, I will have to include my other payday loan bills in this. Will this get me into any trouble? I remember reading during the application process that it was a crime to give false information, though maybe i imagined this, i'm not sure.

Hi there,

Thanks for your post. We can certainly help you with this.

The key thing to focus on here is why Quick Quid are asking your for this information. They want details of your finances so they can work out how much you can afford to pay back towards the debt that is owed to them. They won't be asking this to check if you've broken any rules.

By not telling Quick Quid about other debts you had when you applied for the loan, this is something you should have done, for your benefit more than theirs. This information helps them decide if granting the loan is suitable for you and if you can afford to pay it back.

If you now give them the details of other debts you have I very much doubt you will see any repercussions as a result. Quick Quid's main concern will be in getting the debt repaid, which is why they are asking you for details of your finances.

Technically there could be an argument that you have defrauded the company by not giving this information when you were asked. For Quick Quid to follow this up would be costly and in all likelihood, it would be very difficult to prove that it was your intention. A lot of people aren't able to give details of previous debts they have had because they have simply forgotten they had them, for example.

If you need any help in paying these debts back, do let us know as we can help with this. I know how hard it can be to try and pay back multiple loans like this with the interest that is charged. We offer free advice and can help you find the best way to deal with them if you are struggling. Our Debt Remedy tool is a great place to start getting help with this.

In the meantime, don't be worried about speaking with them. They just want to find a way for you to pay the debt back.

I hope this helps.
Richard

Former_StepChange_Richard

StrawberryKiwi wrote: »

Hi there, I'm looking for some advice on car ownership and repossession. Unsure if I'm in the right place but I don't know where else to find correct and straightforward information.

Can a car be repossessed from the registered keeper of the car?
Eg, Miss A is the registered owner and Miss B is the registered keeper. Can the car be repossessed from Miss B by a debt collector even though the owner is Miss A?

Hope this makes sense,
Thank you

Hi there,

Thanks for posting.

Repossession of anything is a complex process and without knowing more details, it's difficult to give you a straight answer.

The only thing I can say for certain is that a 'debt collector' from a debt collection company doesn't have the power to repossess a vehicle from anyone, registered keeper or otherwise. In most cases, a court order would be required to take this sort of action. Even then, it's not a certainty.

I would suggest calling our Helpline on 0800 138 1111 so we can find out more about the situation. We'll then be able to give you a definitive answer. It's a free call and you won't be roped into anything by speaking with us.

I hope this helps.
Richard.

Pandora_2

Hi there,
I've spent most of the day looking through all my finances and debts etc, and I've paid off about £10,000 over the past 10 years leaving another £10,000 to go. These are a mix of 3 old credit cards, 1 old loan and 1 old overdraft. I fell into difficulty about 11 or 12 years ago when I had a mental breakdown and was on Incapacity Benefit for 2 years as I was unable to work, and haven't been able to work full time since. I had payment protection on most of them but was told that I couldn't claim as mental illness wasn't covered. So with no money I couldn't pay and wasn't well enough to do anything about it so the charges and interest just kept on being added and eventually the default notices came and the debts all got sold off to various companies. I eventually went to the CAB and got help to make payment arrangements and get all the interest and charges frozen and I've been slowly but surely paying them off since then, and increasing my payment amounts in order to get them paid off quicker.

So, all along I've been working on the premise that once each debt gets paid off, after 6 years they disappear from my credit file. However, I've just been reading somebody else's thread on here about their debts and if I've read it right then 6 years after the default I could have stopped paying anything and there wouldn't have been a thing anyone could have done about it!!! I've then gone onto the National Debtline website and on 'fact sheet 25 - time limits for recovering debts' I've just read this which seems to back it up If you have made payments towards a debt where the limitation period of six years has already gone by, and no court action has already been taken, the debt is probably unenforceable.

Is this right, or have I misunderstood? Can I stop paying these debts back and put the money towards paying off other debts instead? I'm going to be heartbroken if I could have stopped paying these debts 4 years ago but at least it would be a massive weight off my shoulders if I didn't have to keep paying them! I know it's partly my own fault for not looking into time limits before now but I never imagined such a rule existed!

Any help or clarification would be much appreciated!
Thanks in advance and I look forward to any replies

StepChange_Allen

Pandora wrote: »

Hi there,
I've spent most of the day looking through all my finances and debts etc, and I've paid off about £10,000 over the past 10 years leaving another £10,000 to go. These are a mix of 3 old credit cards, 1 old loan and 1 old overdraft. I fell into difficulty about 11 or 12 years ago when I had a mental breakdown and was on Incapacity Benefit for 2 years as I was unable to work, and haven't been able to work full time since. I had payment protection on most of them but was told that I couldn't claim as mental illness wasn't covered. So with no money I couldn't pay and wasn't well enough to do anything about it so the charges and interest just kept on being added and eventually the default notices came and the debts all got sold off to various companies. I eventually went to the CAB and got help to make payment arrangements and get all the interest and charges frozen and I've been slowly but surely paying them off since then, and increasing my payment amounts in order to get them paid off quicker.

So, all along I've been working on the premise that once each debt gets paid off, after 6 years they disappear from my credit file. However, I've just been reading somebody else's thread on here about their debts and if I've read it right then 6 years after the default I could have stopped paying anything and there wouldn't have been a thing anyone could have done about it!!! I've then gone onto the National Debtline website and on 'fact sheet 25 - time limits for recovering debts' I've just read this which seems to back it up If you have made payments towards a debt where the limitation period of six years has already gone by, and no court action has already been taken, the debt is probably unenforceable.

Is this right, or have I misunderstood? Can I stop paying these debts back and put the money towards paying off other debts instead? I'm going to be heartbroken if I could have stopped paying these debts 4 years ago but at least it would be a massive weight off my shoulders if I didn't have to keep paying them! I know it's partly my own fault for not looking into time limits before now but I never imagined such a rule existed!

Any help or clarification would be much appreciated!
Thanks in advance and I look forward to any replies

Hi Pandora

Thanks a lot for your message.

It's quite a common myth that debts are no longer enforceable 6 years after they were taken out, or after they defaulted, probably because people get this mixed up with the Limitation Act. I think this may be because this also refers to a 6 year period.

From the information you've provided it doesn't sound like these debts are statute barred - which is where they are no longer legally enforceable. A debt becomes statute barred if:

1. No payments have been made for a 6 year period at any time AND
2. No written acknowledgement of the debt has been made by the customer (i.e. you) during this time either.

As you have been paying these debts for the past 10 years or so, your debts will not be statute barred, and therefore are almost certainly still legally enforceable.

I think the main reason this law came in is to stop really old debts that had not been chased for many years suddenly being asked to be repaid again after years of no contact by the creditor.

Some people think that if a debt isn't on your credit file any more, or at least the default isn't, that the debt doesn't exist or can't be pursued, but this is also wrong. Defaults drop off after 6 years, but if there's still a balance, the debt is still due.

So, all in all, you've been doing the right thing to be trying to pay the debts off. If you had ignored them or refused to pay, from my experience the creditors would have been more likely to take further action such as obtaining county court judgements (CCJs) against you.

If your agreements are all going okay at the moment, that's great, but if you would like any further advice, for example to make sure that monthly payments are still the best debt solution for you, you can contact us for more help.

I hope this helps.

Allen

Pandora_2

Thanks very much Allen. That's definitely made things a lot clearer. I'll just keep on doing what I've been doing for now and maybe one day I'll be debt free! Haha!!

Big thanks again :T:T

MaggieP4

Hi there, I am struggling to keep my head above water and pay my minimum credit card payment each month and was wondering if writing and asking if they would stop adding any further interest was the best option for me and if they will take my request seriously.
I have nearly £8k on a single card because I am an idiot and have previously spent above my means (there I have said it out loud for the first time), I also have an unsecured loan and my current account all with the same bank. As a stay at home Mum, my only income is a monthly payment my husband gives me for food and living expenses which would be more than enough if it wasn't for these debts (which he knows nothing about).
I so want to start getting out of debt and stop waking up worrying about how I am going to pay for things at the end of the month. I have tried to move my card debt but its a no go because although my credit score is good, on paper I am without any income so have been declined a new card with O% interest transfer deal. I have talked briefly to my bank about consolidation but they advised me that despite years as a good customer, their rules have changed and they cant do anything to help.
I feel like Im in a bit of a hole but stopping the interest would be a good start as it would mean I could actually pay off some of the debt not just the charges. I would ideally like to repay slightly less as well so I could get rid of my overdraft. Do you think they would be open to this suggestion and would I need to realistically set up a new current account too?
Thanks, its such a relief just to admit Im in debt!