Confused, Did i make a mistake

sfsdfg897fdgd89

2 companies have come of my credit file, even though I was paying them every month and still owe money.

Some people say 6 years from when default others say 6 years since you last spoke, which one is it.

So if a company is not your credit file, can they take you to court, or sell your debt to anthor company and is any of it enforceable?

I just joined settle my debt, already paid £200, they will save up and pay my debt in meantime, until they can pay a settlement.

The reason I went with them instead of a free company, is because they do work others wont, like fill in court form for ccj, negotiate with debtors for best settlement, and take a massive fee though.

my debt is just over 4k, with different companies and one ccj

marliepanda

You are confusing two things, easily done as both are 6 years (one is 5 in Scotland)

After you default, it takes 6 years for that to drop off your credit file. You do still owe the money though.

After six years of no payment, no contact or acknowledgement of the debt it becomes statute barred. You still owe the money, but they can no longer pursue you through the courts.

Based on your post, you are talking about the first one

(Also free DMP do what you say too, just throwing that out there )

Tixy

I really wouldn't pay any more money to settle my debt.

Charity dmp providers will help negotiate settlements on your debts, and not take a cut of the settlement payment. And I would never trust anyone to fill in a court paper on your behalf. Never.

Time_to_face_the_music

bluebat wrote: »

2 companies have come of my credit file, even though I was paying them every month and still owe money.

Some people say 6 years from when default others say 6 years since you last spoke, which one is it.

So if a company is not your credit file, can they take you to court, or sell your debt to anthor company and is any of it enforceable?

I just joined settle my debt, already paid £200, they will save up and pay my debt in meantime, until they can pay a settlement.

The reason I went with them instead of a free company, is because they do work others wont, like fill in court form for ccj, negotiate with debtors for best settlement, and take a massive fee though.

my debt is just over 4k, with different companies and one ccj

What Settle My Debt will do for you:

charge you 2 months fees towards setting up your new DSP

charge you an administration fee equal to 20% of your monthly payment or £20 per month whichever is the greater

charge you an admin fee of £15.00 for every new debt added 4 weeks after your first payment

charge £4.50 per month to cover the cost of postage and cheques to your creditors

charge at £75 per CCJ ,N244, N245 and £25 per additional CCJ, N245, N244

charge a £60 annual maintenance fee which will cover the costs of running your account

charge a £10 fee towards the admin costs on all settlements made which successfully result in you saving money from your debt

etc. All above from their T&C on their website.

They will do nothing more than any non-fee charging DMP charity/company or what you can do for yourself. Why pay for what you can get for free, all the money you pay should be going towards your debt, not to line Settle My Debts pockets.

Yes you made a mistake!


Try reading this:

https://forums.moneysavingexpert.com/discussion/4228011

longtermplanner

bluebat wrote: »

my debt is just over 4k, with different companies and one ccj

In that case it is likely that you qualify for an Administration Order. This is a very rarely used debt solution because you have to have less than £5,000 in debts AND have a CCJ.

When it is applicable it works very well for you. You make one payment per month to the court and your creditors are not allowed to take any legal or enforcement action against you. Simple. Affordable. Easy.

I suggest you call National Debtline and talk to them about this - 0808 808 4000. here is their factsheet: https://www.nationaldebtline.org/EW/factsheets/Pages/09%20EW%20Administration%20orders/Default.aspx

They will also discuss whether any of your debts are statute barred as this isn't the same as dropping off your credit file.

(oh and National Debtline or your local Citizens Advice bureau would also have helped you with filing in court forms for ccjs etc. All for free. You are being ripped off.)

sourcrates

Time_to_face_the_music wrote: »

What Settle My Debt will do for you:

charge you 2 months fees towards setting up your new DSP

charge you an administration fee equal to 20% of your monthly payment or £20 per month whichever is the greater

charge you an admin fee of £15.00 for every new debt added 4 weeks after your first payment

charge £4.50 per month to cover the cost of postage and cheques to your creditors

charge at £75 per CCJ ,N244, N245 and £25 per additional CCJ, N245, N244

charge a £60 annual maintenance fee which will cover the costs of running your account

charge a £10 fee towards the admin costs on all settlements made which successfully result in you saving money from your debt

:eek::eek::eek::eek::eek: WOW!!!!! Cancel now OP, your probably paying these clowns more than your creditors !!!!


Really annoys me that these fee charging debt management companies target people when they are at there most vulnerable, them make them sign up to agreements they would never dream of signing if they had a clear head, tighter regulation of these bloodsuckers, that's whats required, Grrr :mad:

sickasachip13

Wow, they really are complete shysters; but when we're feeling down, overwhelmed and freaked out these shysters appear to have all the solutions.

Get away from these cowboys and talk to National Debtline and/or StepChange. You can get the support you need for nothing.

Best of luck, SAAC

sfsdfg897fdgd89

I did cancel but after 14 days, so will not get refund on by £200, anyway around this?

there fee if I stayed with would have been over £1400 to clear debt just over 6k, what a rip off.