Text from 1st Credit

Cougartown

H
I'd like a bit of advice please. To cut a long story short, I had a good job, got a few credit cards, amassed about 20k in debt, probably paid off the equivalent (plus some) in interest, then lost my job, tried for about 8 years to keep up with payments then had to admit defeat and ring both cc's. (Marbles and HSBC).
I started payment plans after 6 months of battling with both cc's and then 14 months ago, after paying for 12 months and receiving no statements etc from either cc, I sent SAR letters, both cheques were cashed and nothing was received back. So I stopped paying both.
In those 12 months, i've heard nothing (but started sleeping properly again) until I got a text today from 1st Credit asking me to call them quoting a reference number (I haven't called, and have barred the number).
I've no doubt they have bought one of my debts (or both) and now want payment.
What can I do now. I'm still out of work, dh is self-employed, we're behind on all our bills, have had to extend the mortgage to when my dh retires, and just can't find anything to pay extra bills with (my chirldren got IOU's for Christmas for if finances might improve). Besides, my hubby says they are my personal debt, so his earnings can't be taken into account.
Any advice please. I feel sick - all the old worries are back! Thanking you in advance.

MerchantMariner

You're going to need to face up to these debts, so I would recommend getting balances and working out how much you owe. It's difficult to face but you will feel a lot better once you have your head out of the sand and have some direction.

I would get a statement of affairs done as soon as you can. I can't link because I'm still new but google Stoozing dot com SOA calculator. Then we can all get nosy and see what we can find - how to approach the debt, how to maybe cut back on expenditure etc. Don't worry though, it's a good type of nosy, and this forum has some absolute gems who offer some excellent advice.

Well done for taking the first step. Don't bury your head in the sand again. Keep going and you'll be on your way to a debt free future.

Cougartown

Another question: as I am currently not in work and we receive no benefit help (i'd workd for 20+ years but only got 6 months contribution based js allowance, then nothing), how can they sk for my income details (zero) if this debt is an unsecured debt and in my name only. I had a terible time off both cc's - constant phone calls, messages through my children etc) despite writing to tell them not to call, only write, and I feel that they have had enough money off me. If I have zero income, surely thats the end of that (or is it not that simple)?

fatbelly

Cougartown wrote: »

What can I do now. I'm still out of work, dh is self-employed, we're behind on all our bills, have had to extend the mortgage to when my dh retires, and just can't find anything to pay extra bills with (my chirldren got IOU's for Christmas for if finances might improve).

In your circumstances, a text from a bottom end debt collector, that might or might not be connected to one of two credit cards that you used to have, is the least of your problems.

You have done the right thing in relation to the text. If 1st Credit genuinely own one of those old accounts they will write in the conventional manner. Post again if they do.

It would be useful to post a statement of affairs, using the calculator at:

http://www.stoozing.com/calculator/soa.php

as you need to have a balanced budget and be able to pay ongoing bills. Format for mse and remove links before posting

Before someone suggests getting copies of your credit report there is no point in doing this unless you need to obtain credit - otherwise it is not in your interest to give CRAs any more personal information than they already have.

Cougartown

I'm assuming I use my hubbys income details for my income and put the whole of our expenditure on.....

MerchantMariner

Unfortunately they can be very persistent and they can make your life a misery. Hopefully the forums can give you the confidence to deal with them. I would also suggest getting in touch with the likes of Stepchange. They're a charity who offer free debt advice and a friendly, non-judgemental ear.

Your options, as I see it, are to either go into it with your husband and make an arrangement to pay or deal with it alone which, if you have zero income, might mean having to look at more drastic options. Either way, your priority expenditure comes first - mortgage, bills, etc. These need to be your primary concern.

Definitely try to complete the SoA calculator and post on here as MSEers are geniuses when it comes to finding ways to save.

fatbelly

Cougartown wrote: »

I'm assuming I use my hubbys income details for my income and put the whole of our expenditure on.....

Yes. For us, treat this as a 'joint' problem. It sounds as though you can discuss this as a couple. Good. That doesn't mean that you would present the same info to a creditor, or use the same figures if going for an insolvency solution. But that is getting ahead of ourselves.

I also think it's early to be discussing this with Stepchange, CAB, CAP, Payplan etc as one text from a debt collector means nothing. I have seen loads of occasions where someone has had contact from a debt collector and assumed 'that must be X' but it turned out to be something different.

Your problem appears to be that you are struggling to make priority payments like the mortgage. At the moment I'm not clear whether there is anything at all for non-priority creditors.

happy_bunny_2

One tip for your Marbles card, is if taken out before April 2007, is that they may well not have your agreement. So when/if you need to tackle this one, send whoever owns it a CCA request.

They wouldn't admit to not having mine until I submitted a complaint about ignoring my CCA request.

Good luck

HB