Debt - Advice please

matttye

Badger3 wrote: »

Thanks mattye I will make sure I keep it all via email, is there anything I can quote to them if they do ask me to contact via phone?

Just tell them you'd prefer to keep everything in writing for the interests of everyone involved.

If they're difficult about this, you can then tell them that the Office of Fair Trading's guidance on debt collection says that creditors must oblige by debtors' reasonable requests of when, where and how to contact them.

Badger3

The majority of loans i have are not due for repayment until 21st June so I will leave it and see what sort of responses I get as I dont really want to change account if I can help it. (plus my account is at -750 so they can't take anything out until 21st June anyway)

As soon as i've cleared my PDL's i will be getting rid of my overdraft and credit card! Only going to spend what I earn in the future and definitely never take another PDL out.

FireWyrm

Badger3 wrote: »

The majority of loans i have are not due for repayment until 21st June so I will leave it and see what sort of responses I get as I dont really want to change account if I can help it. (plus my account is at -750 so they can't take anything out until 21st June anyway)
.

Their response will be to clear you out. The banks have been known to honor the payments even if it puts you into unauthorised overdraft!

I really really suggest you do as I advise, I'm not telling you this for my health. If you choose to ignore what I have said, you may get more than you bargained for from the PDLs.

Badger3

Fair enough, Is there any accounts you can apply for online? as I sorta live in the middle of nowhere and have to rely on public transport atm and therefore dont get much spare time outside of working hours to go round town etc.

matttye

Badger3 wrote: »

Fair enough, Is there any accounts you can apply for online? as I sorta live in the middle of nowhere and have to rely on public transport atm and therefore dont get much spare time outside of working hours to go round town etc.

You can apply for most accounts online these days!

FireWyrm

Badger3 wrote: »

Fair enough, Is there any accounts you can apply for online? as I sorta live in the middle of nowhere and have to rely on public transport atm and therefore dont get much spare time outside of working hours to go round town etc.

Sure...

Natwest
Nationwide
Tesco savings
Co-Op
Barclays
Lloyds

etc....

Any of these offer basic bank accounts without an option of an overdraft or cheque book. They do not charge fees and you can usually open them easily as they dont have the facility for credit...exactly what you need right now. Pick one that you do not have a relationship with. The reason is, banks in the same group have been known to honor requests as well.

Be prepared for the PDLs to play hardball. Some will be reasonable, but most wont. They will harass you, they will trash your credit score (kiss goodbye to any credit for the next 6 years) and they will threaten you. However, if you stay strong, stick to your guns and protect your incoming money, there is nothing they can do much to recover it without your co-operation and they know it.

Badger3

I've just tried to apply for a HSBC account and been rejected due to credit score

Help? lol

Edit - just seen previous comment regarding different accounts, will try one of those

*Foolish*

I got a NatWest basic, accepted straightaway after also being declined by HSBC. Just make sure you check what kind of card you get and where you can withdraw money etc, because mine is quite restricted.

Badger3

Thanks just tried Natwest and it seemed to work, just need to take some proof of ID in tomorrow to get it completed.

FireWyrm

Badger3 wrote: »

Thanks just tried Natwest and it seemed to work, just need to take some proof of ID in tomorrow to get it completed.

There you go!

Right, move your incoming money asap and start proceedings to pay stuff back. You're at least part of the way there.