Please could someone give me some advice?

littlesue

Hi
We have two years to go before we are debt free. its been a long haul but we can see it within our reach now.
The loan was taken over by debt company. We'd had problems but were making payments that we all agreed on. Now the debt management company is ringing everyday wanting us to pay more . Its getting to be really stressful as I keep saying there is no way we can pay any more. My husband only works for a care agency and over the next few weeks only has three days work a work which is a worry in itself. I just feel like we are being harassed. We have never missed a payment even if we have struggled at times.

Please is there anyone who can offer some advice

Gaz83

What debt company? Hopefully you're not paying for their services?

20aday

If you are paying the Debt Management Company for their services (like I foolishly did when I was in a DMP years ago) I'd suggest you contact StepChange or your local Citizens Advice Bureau for advice.

I can fully empathise how distressing the current circumstances are for you and you have my sympathy but you are on the right track and however distant it seems the next two years will fly by.

Best of luck x

littlesue

Than you for your kind words. Its been a stressful few days what with other things happening.
We were with a debt management company a few years ago but after a successful claim on a ppi we paid most of our debts off and were left with one debt, still a big one after that but we could manage it and we agreed with the loan company to pay more which we did. But the debt was sold on to a debt collection agency then it moved from them to 3 different ones. now we are being pressured by the company, its with at the moment is cabot

DCFC79

littlesue wrote: »

Than you for your kind words. Its been a stressful few days what with other things happening.
We were with a debt management company a few years ago but after a successful claim on a ppi we paid most of our debts off and were left with one debt, still a big one after that but we could manage it and we agreed with the loan company to pay more which we did. But the debt was sold on to a debt collection agency then it moved from them to 3 different ones. now we are being pressured by the company, its with at the moment is cabot

Write to them and request they only contact you by letter in future.

If they are calling a mobile number there's an app you can download that will let you choose to block certain calls.

littlesue

Thank you for the advice, I will write to them x

glennstar

littlesue wrote: »

Than you for your kind words. Its been a stressful few days what with other things happening.
We were with a debt management company a few years ago but after a successful claim on a ppi we paid most of our debts off and were left with one debt, still a big one after that but we could manage it and we agreed with the loan company to pay more which we did. But the debt was sold on to a debt collection agency then it moved from them to 3 different ones. now we are being pressured by the company, its with at the moment is cabot

Not to counter DCF's very sensible statement about writing to them and asking them to contact you by snailmail only but it would help to understand a potted history of how you went from dealing with the Lender and agreeing a repayment plan to ending up with a DM after a number of iterations. Why did the Lender sell your debt on to a third party? Did they go out of business? I ask as it is both unusual and wrong for a Lender to agree to a repayment plan and then pass you to a third party unless part of the agreement was to pass you to someone else.

littlesue

The loan company was sold and the new owners must have decided to sell on the debts as I received a letter saying that's what they were doing. the debt has moved to 3 different debt collection agencies over the past few years but this one seems to want more money which we don't have. if I could afford the reduced rate they've offered to pay them off I would pay it gladly to get them off our backs.

glennstar

littlesue wrote: »

if I could afford the reduced rate they've offered to pay them off I would pay it gladly to get them off our backs.

LittleSue, can you elaborate on this, please?

National_Debtline

Hi littlesue


It sounds as though this creditor is bullying you for larger payments than you can afford. In doing so, they are likely to be breaching the Financial Conduct Authority's guidance on fair debt recovery practices. For example, the guidance states that:


A firm must not pressurise a customer:

(1) to pay a debt in one single or very few repayments or in
unreasonably large amounts, when to do so would have an adverse
impact on the customer's financial circumstances;

(2) to pay a debt within an unreasonably short period of time


I would recommend that you make a formal complaint about their behaviour - you could do worse than quote the above excerpts (the full guidance can be found at https://www.handbook.fca.org.uk/handbook/CONC/7/?view=chapter )


In the meantime, you should screen your calls if there is no way of simply blocking them altogether, and please do not allow yourself to be drawn into conversation with them.


More on how to complain effectively:


https://www.nationaldebtline.org/EW/factsheets/Pages/03%20EW%20Harassment%20by%20creditors%20and%20debt%20collectors/Default.aspx


Dennis
@natdebtline

littlesue

The debt company keep sending letters offering us 2 grand off the total ( roughly owing 5500 at the moment) if we pay it off. We don't have that sort of money so we just ignore it. Now they've started ringing us at all times of the day. They want to know our out goings and want us to pay more money. We barely mange to pay what we do now