1st credit

Magpie80

Well having some stressful times at the min been reading up and have decided to join and try and sort things out.

So I've had a lot of debts over the years worked hard got a lot of them down from help through family and now only have like 3 debts left my main concern is 1st credit now this is for a Loan through halifax years ago like at least 5 maybe more think the last time I payed anything towards it was like 3 years ago.
Now it's been passed around no end lost count and lost track have 2 kids now only one earning and don't really earn a lot now if I owe what I owe then fine but I just want to sort it out but I want to do it right!!!
So I've been getting letters for around 6 months I've never rang or wrote and now they are stating they will make me bankrupt or go for a charge on my joint owed home wouldn't say there's much money in my home at the min.
The debt is for around £5500 so what should I do because at the min I'm just hiding away from this because I'm scared I look at my kids and it brings me to tears I don't want this hanging over my gf and kids head so I'm asking for help and advice please.
I've read a lot on that I should for starters that I should write and ask for proof of debt CCA I think it's called with a postal payment of £1 to see if this debt is lawfully there's to collect or shall I just ring or write and try and work out some kind of monthly offer but it woułdnt be a lot like £30-£40 a month sorry to go on thanks for reading

Magpie80

Any advice would be of great help sorry to bug

National_Debtline

Hello Magpie

Welcome to the forum.

It’s difficult to advise you on the best way to handle things with the limited information we have available so if you would like some complete advice it’s a good idea to call us or one of the other free debt advice charities.

You can negotiate an instalment plan based on an affordable amount which you can work out by completing a statement of affairs. It’s important to make sure you have enough money available to pay your essential household bills and living costs and then see how much you have to share out on debt payments.

Depending on how much you can afford to pay towards debts, and the rest of your situation, you may be able to try a free debt management plan with Stepchange or Payplan where they negotiate with creditors on your behalf.

Before you do that you can request more information on the debt like you mentioned. Under the Consumer Credit Act (CCA) you have the right to request a copy of the credit agreement to check terms and conditions and you can also request a statement of the account so you can see how the debt has been worked out and whether it’s correct.

We have a factsheet with more information and a template letter to make that request here. Make the request by recorded delivery as proof and send a payment of £1:

www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Default.aspx


James
@natdebtline

sourcrates

Hi,
No need to be scared, the letter is just a computer generated threatogram telling you what "could" happen if you don't contact them.
The letter you should send first of all, is this one :

https://forums.moneysavingexpert.com/discussion/2607247

This asks for proof of the debt, without actually acknowledging it.

They should respond with evidence of the debt, but it may take a while, they will put the account on hold whilst this happens.

1st credit are not a nice company to deal with, however, they have mellowed somewhat since been put on notice to improve the way they deal with customers or have there consumer credit licence revoked.
Best advice, wait until they provide you with the necessary proof, them write, never phone, and make them an offer of payment you can afford, they are a litigious company, and you could risk a CCJ if you dont make an arrangement to pay.