FINAL NOTICE;threat of COURT SUMMONS

everybodyhateschris

Hi there
I owe approximately £6K in debt to my previous bank, who assured me a default notice during 2005/6. Unable to pay off the debt I suggested a payment plan of £10 a month approx.
Unbeknown to me, my building society did not set up the mandate I issued them..with the result that little or no money was sent to the creditor. I later notified the creditor that I had moved house (my correspondence by this time had been returned to sender). I contacted them by phone in September only to be told that the debt had been passed on to another party. I was then not contacted for a further 6 months. Though they do not have my current address, they have hounded me with calls every week. I have been too afraid to answer them since I am worried of the outcome. I have thought about changing my no. Given that I hadn't been contacted in 6mths I thought that they might have given up. I do not feel that explaining the situation to the new creditors would have made any difference. Though I am now trying not to let the situation get the better of me, I have been seriously depressed (to the point of comtemplating suicide) and scared to answer the phone. I feel that this and a credit history so poor as to not even be granted a 300 pound overdraft (though I currently do not need it) is punishment enough for what I have been through over the last few years - not to mention the (partially inflicted) indignation of having to reveal to family members that you have disgraced yourself financially and potentially rely on them for financial support. The creditors wouldn't see it that way - they were less than sympathetic to start with hence the default notice...to me they persecute the vulnerable to the point of destruction. They are scum...I feel that my bank etc was more than prepared to lure me with money offers well knowing that I had transferred several thousand pounds of debt made up of student loans and credit card bills. They have destroyed my credit rating and yet still they persecute me.
In so much as corresponding with the creditor is concerned, I feel that the situation is now unmanageable. Any attempts to rectify things will only exasperate the situation.
I am not especially scared, but would like to know if this will ever stop and more importantly will I ever get my credit rating back - how long? - (will I ever be able to get a mortgage in the future etc?). Would it not be quicker (and easier) to declare myself bancrupt? I bank with Nationwide and from my understanding they are more reasonable than the big 4 banks in cases of bankruptcy. Is it worth considering a change of telephone no. for my own peace of mind? I understand the severity of the situation but due to such erratic correspondence I am reluctant to contact the creditor. Please help.



I sent this letter off to National Debtline and received a fairly standard response outlining points such as:



a)prepare a budget of monthly outgoings and incomes (and suggest an appropriate sum of money to pay the creditors on a monthly basis);




b)bankruptcy is a serious step that should be not be entered into lightly.




Since enlisting the help of ND, I have received letters from a new credit services agency requesting that I send them the money in its entirety (which I cannot possibly do). Due to illness, I was unable to send them a proper reply (complete with proposal) - which they presumably took to mean that I was ignoring them. The second (and latest) is a FINAL NOTICE and advises that a claim form may be lodged with the County Court.



Several points I wish to raise here:

the background

1) I accrued a lot of debt (though to me this sum pales in comparison with a lot of debts) mostly through stupidity...

I juggled several interest-free student accounts at once...then, when the accounts became dormant I was forced to transfer the debts onto a low rate balance transfer card. Previously never having had any credit card debts that weren't paid off in full, I then committed the cardinal sin of spending on this and subsequent balance transfer cards - this practice became all the worse during the 6 months in between jobs when I was heavily depressed and spent more money I didn't have.

the questions
2) Does the default notice last 6 years whether the debt is paid or not? Does it get removed after 6 years regardless of the circumstance?

3) Can a CCJ be made against you if you fail to honour payment of the debt? If the CCJ is awarded in your favour is it still documented against you?

4) If the default notice is removed, how long is it before you are eligible for any credit (eg mortgage, debit card, overdraft)? Can it even be removed?

5) will medical circumstances be taken into account in terms of an inability to take prompt action?

the thoughts6) Even though my debt seems relatively small and inconsequential, the creditors seem to be going to huge lengths to recover it - presumably even buying my new address details off other companies (I'm not on the electoral roll and not required to pay c/t as part of my tenancy agreement). I am angry that this situation has been facilitated by the card companies' relentless offers of 'attractive' offers and the fact they were all too happy to increase my credit limit. I am therefore reluctant to have to pay the creditors back and feel I have suffered punishment enough for my misdeeds.

7) I am moving house at the end of July which may buy me some time before the debt is then sold onto another creditor (then presumably the whole process starts again and I'll be prepared and armed with all the information needed for the creditors to organize recovery of the debt).

8) I am minded to switch phone nos. since I have been relentlessly pursued during office hours by these 'people' and I do not wish to jeopardize my full-time position within the work place. Writing is more official than a phone call and does me much better justice.

9)Given the sum of money owed to the creditors, I do not wish to risk a CCJ since I already have a default notice. Bankcrupcy seems a drastic situation, even if it means a fresh start and ensures the !!!!!!! creditors don't get their full entitlement after all they've put me through.


10)Taking steps to arrange debt recovery would alleviate a lot of the stress that is taking its toll on so much of my life at the moment. It would also mean that I wouldn't constantly be looking over my shoulder, worrying of what could happen to me.


I desperately need some suggestions/advice on how to proceed...nothing overtly critical please...That ship has sailed and it's best to try and look to the future. There has been plenty of soul-searching...now I need to learn from these mistakes and take some sort of action.

Your thoughts please....???

L-Jay

Right, my thoughts - you need to contact CCCS as soon as possible. You also need to take some responsibility not just for the initial debt but also the lack of subsequent payments made.

I'm speaking from experience (of debt and of depression), you need to give yourself a kickstart, stop worrying about how long a CCJ will last and accruing more debt - start focussing on avoiding this happening.

I hope this doesn't sound too harsh, just realistic.

Tuscan

as above you need to shake your self down and make an effort to sort this out as it wont go away, it seems like a fortune but its only 6k and compared to many on here including me its next to nothing. im sure you could set something up and have it payed off in a few years..

i dont mean to sound hard but blaming everyone else and buring your head in the sand is NOT the answer..


i hope you can get through this, theres plenty of advice on here to help you out..

regards

sammy115

start paying the amount you initially promised at least. They are pursuing you relentlessly because you have ignored them. Once you contact them they will help you.