Debt Action Plan Advice

helpmeee

First of all thank you for all your help so far.

As requested, this is my situation

Debt as follows:

HSBC BANK

Monthly Payments 0.00
Default: 27/10/2008
Debt: 11,999
Unsecured Loan

Arrow global LTD

Monthly Payments 0.00
Default: 30/12/2009
Debt: 6,000
Unsecured Loan

Arrow Global LTD
Monthly Payments: 70.00
Default: 29/03/2011
Debt: 5,000
Credit Card

Apex Credit Management
Monthly Payments: 00.00
Default: 30/05/2009
Debt: 11,000
Credit Card

1St Credit Limited (no contact for 5 years)
Monthly Payments: 00.00
Default: 31/06/2008
Debt: 10,500
Credit Card

Hfc Bank - HSBC Finance
Monthly Payments: 00.00
Default: 31/04/2008
Debt: 8,600
Credit Card

My debt situation was a lot worse but i had been paying creditors off. Come to a bit of a standstill at the moment. Most the debts listed were at least double when i initially took them out.

I have only ever sent CCA requests to HSBC, and received them to.

~Beanie~

So what is your question?

helpmeee

oops, sorry.

I wanted to know what steps i should take?

1. Send CCS or SAR? ( links please?)

2. Will they drop of my credit file?

Tixy

Hi

When did you last pay each of the debts that you are not paying anything to at the moment?

Are all except 1st credit chasing you for payment?

Are the balances listed of £53k what you currently owe?

Is the £70 you are paying to arrow the most you can afford to your debts at the moment? If not how much can you afford towards them?
Have you ever spoken to one of the debt advice charities about your different options for dealing with this debt.

Tixy

helpmeee wrote: »

oops, sorry.

I wanted to know what steps i should take?

1. Send CCS or SAR? ( links please?)

2. Will they drop of my credit file?

I would talk to one of the debt advice charities.

The credit account entry will drop off your file 6years after the default date in each case.

But if any successfully take court action against you then you would have a CCJ on your file for 6years from the date of the judgement.

helpmeee

Hi Tiky

1. All are chasing except 1st credit
2. All have payments made until around 12 to 6 months ago.
3. 70 is all i can afford at the moment, i might be able to afford a lump sum but that be in a years time or so.
4. Debt charities not really interested as i live with my parents, have no kids.

helpmeee

Tixy wrote: »

I would talk to one of the debt advice charities.

The credit account entry will drop off your file 6years after the default date in each case.

But if any successfully take court action against you then you would have a CCJ on your file for 6years from the date of the judgement.

so it's worth starting to pay them token amounts to avoid another 6 years.

Tixy

helpmeee wrote: »

4. Debt charities not really interested as i live with my parents, have no kids.

Really? which charity did you contact?

I'd be very surprised if they wouldn't help you for those reasons. I would imagine that if you spoke to them they would talk to you about your possible options and implications.

If you can really only afford £70 at the moment and don't expect that to improve in the short term I would have thought that they may have suggested you consider bankruptcy given the very high level of debt you have.

Tixy

helpmeee wrote: »

so it's worth starting to pay them token amounts to avoid another 6 years.

Paying token payments won't guarantee they won't take court action against you. What is your main reason for wanting to have a clean credit file? Are you hoping to take out more credit?

Unless you can significantly increase how much you can pay towards these a month then it looks like you have very little chance of paying these all of within the next 6years anyway.

helpmeee

Tixy wrote: »

Really? which charity did you contact?

I'd be very surprised if they wouldn't help you for those reasons. I would imagine that if you spoke to them they would talk to you about your possible options and implications.

If you can really only afford £70 at the moment and don't expect that to improve in the short term I would have thought that they may have suggested you consider bankruptcy given the very high level of debt you have.

Yes they did. ~they said i shouldn't be ashamed of of it.

Would bankruptcy be on my file for 6 years also?

helpmeee

Tixy wrote: »

Paying token payments won't guarantee they won't take court action against you. What is your main reason for wanting to have a clean credit file? Are you hoping to take out more credit?

Unless you can significantly increase how much you can pay towards these a month then it looks like you have very little chance of paying these all of within the next 6years anyway.

Divorced, wife wanted joint current account, mortgage etc and i couldn't provide. Want a clean slate before i settle down again with anyone but dont want to wait another 6 years