Advice needed - old debts

jon8sher

Hello

I am looking for some help -not sure what to do at the moment.
I have debts outstanding which were defaulted on in 2009. I lost my job at that time and my wife was/is in an IVA and to be honest I buried my head in the sand.
My main concern is a NRAM unsecured personal loan for £20,000 which was taken out I think in 2007 as I made 2 years worth of payments on it. I had a few letters from NRAM at the time and then nothing until last year with a DCA letter from Marlin. They have upped the pressure and in January I agreed to token payments of £20 for 2 months when I said I would be in contact again. They have sent an offer letter to clear the debt for £17000, at the mo I don't have £17!
I have no idea what the best way to deal with this debt is? I now have a job and I have 2 small loans which will be repaid by the end of April so I could afford a level of repayment to them from then. I have no money to offer a lump sum F&F offer.
I am paying 2 x £10 a month to another DCA for storecard debt which has almost been repaid and I also have a LLoyds CC debt for £9000 which was defaulted in 2009 and I have heard nothing from them since 2009.
I would be grateful for any advice of where I can go from here. I do not want to declare BK or enter an IVA if possible but I cant dismiss anything right now -this is consuming my every waking thought! Thank you for reading.

happy_bunny_2

If any debts were taken out ore April 2007, send a CCA request. Court action can be defended if they don't gave the signed original. If unsure of the date, send one anyway. That can remove one commonly used DCA threat.

Worst case, you go to court, a judge orders you to pay what you can. End of.

Do you own a property with equity?

Don't worry about not having funds for a F&F. That discount is rubbish anyhow...

If you want to know who owns the Lloyds account, have a look on your credit report. Might wake a DCA when you check it mind.

You may also want to talk to Stepchange or another charity as a DMP may be an option.

HB

jon8sher

Hi

Thank you for your reply.

We have a property in negative equity. I will end a CCA request, I cant remember the exact date.

I did contact stepchange and they said to basically honour the agreements as my income will increase from April. I have no problem with repaying these debts as I did indeed incur them but Marlin are insisting on repayments which are way out there and I think they will still add on interest so I wonder if by paying them a fixed amount each month it will ever reduce the balance?!

Max recovery have the lloyds debt according to my credit file. Weirdly the NRAM doesnt appear on it from what I can see....

Thanks for the advice HB

happy_bunny_2

I would do the CCA request and see what comes back.

Still adding interest? Odd, DCAs don't normally do that.

You should also get a statement with your CCA.

Report back when it arrives, need to know the date and what it contains to advise further.

They might gave to get it from NRAM, which may take longer than the 14 days, so if they write about payments meantime just tell them you are eating for your CCA before discussing payments.

HB

absolutereturn

jon8sher wrote: »

Hi

Thank you for your reply.

We have a property in negative equity. I will end a CCA request, I cant remember the exact date.

I did contact stepchange and they said to basically honour the agreements as my income will increase from April. I have no problem with repaying these debts as I did indeed incur them but Marlin are insisting on repayments which are way out there and I think they will still add on interest so I wonder if by paying them a fixed amount each month it will ever reduce the balance?!

Max recovery have the lloyds debt according to my credit file. Weirdly the NRAM doesnt appear on it from what I can see....

Thanks for the advice HB

Stepchange would tell you that. They won't tell you to send a CCA request.

Any idea WHEN in 2007 you took this out? Before or after April?

jon8sher

Hello

No I have been hunting down my credit agreement today with no luck and I cannot remember the date :-( and its not showing on my credit report. My wife thinks it may of been 2006 as we moved then and she is sure that I had the loan already

I will send a CCA request tomorrow.

Thank you

jon8sher

Sorry if this sounds stupid - just discussing options with the missus - the LLoyds loan is showing as defaulted on my credit report. If I entered into a DMP could they change the default date to this year?

jon8sher

Hi

I have just found a statement relating to this loan, thamount is more than I thought :-//

Loan Start date: 8th June 2006 Amount: £25,000 Duration: 10yrs Interest: 8.9%

Cheers

Jon

sourcrates

jon8sher wrote: »

Hi

I have just found a statement relating to this loan, thamount is more than I thought :-//

Loan Start date: 8th June 2006 Amount: £25,000 Duration: 10yrs Interest: 8.9%

Cheers

Jon

Hi,
Assuming this loan was unsecured ? send the CCA request, as a lot of these agreements were unenforceable pre 2007, even if they can produce the paperwork, it may still be suspect see what comes back and let us know.

happy_bunny_2

jon8sher wrote: »

Sorry if this sounds stupid - just discussing options with the missus - the LLoyds loan is showing as defaulted on my credit report. If I entered into a DMP could they change the default date to this year?

They should not change the date. You can only default one and the date is the date.

I would periodically download your credit file showing the default dates. That way, if anyone (usually DCAs) changes the date, you can easily complain to get it changed back.

jon8sher

Quick update - send CCA request on the 17th. Letter back from Marlin today that they do not have the agreement or the statement of affairs and have passed the request to Northern Rock.

I had (before seeking advice on this forum) offered them £20 a month. This would due to be paid to them today. Shall I withhold this until I receive the paperwork?

Thank you.