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Soomuchdebt

Hello

Are there any options for reducing minimum payments on credit card debt that won't affect my credit rating when trying to rent privately?

I don't want to fail the tenant referencing checks that estate agents do.

Is there anything out there that meets this requirement?

Also, are there any loans companies that will give out loans to less than desirable candidates to pay off their credit card debt, even if they aren't in good financial shape (but with no defaults or anything like that)?

Thanks!

Pablo_Honey

Back in October, I received a letter from the courts advising I had 24 hours to make a £700 payment or face having goods removed from my property. I managed to speak to the solicitor that ordered this and agreed three monthly payments via direct debit.

In December, this payment failed, due to insuffiency funds and due to other debts to multiple creditors, I’m in the process of setting up a DMP with StepChange.

I’ve now revived a Notice Of Issue Of Warrent Of Control letter threatening;

“You have not made payment under judegement your were ordered. The creditor has therefore asked for a warrent to be issued to the bailiff to seize and sell your goods. Unless you pay the amount due to the court before 18 Feb 2019 the bailiff will call and may remove your goods for sale at public auction.”

I’d be grateful if anyone could help answer any of the following;

1) Does this mean I should expect bailiffs at my properly imminently?

2) I’m paid monthly and next in a week’s time. Will I be able to contact the courts to make an offer to payments across two months? Or would it be better to speak to my creditors directly?

StepChange_Kirsty

Hello,

Thanks for your post.

If you’ve missed around 6 months of payments it’s quite likely MBNA will send you default notices for the debt. This does not automatically mean they will look to obtain a Charging Order against your property.

Most importantly it’s good to hear that you are communicating with MBNA about your financial situation, this will reduce the likelihood of court action being taken against you. The next thing I would suggest is that you get free and impartial debt advice to look at longer term solutions for dealing with MBNA and any other debts you may have.

At StepChange we can definitely provide you with some further help and advice but first we would need you to complete a budget with us so we can tailor the advice to your individual situation. The quickest way to do this is by using our online Debt Remedy tool which guides you through the process of putting a budget together in your own time and will provide you with advice in the form of a personal action plan.

Alternatively you can give us a call and speak to one of our expert debt advisors. You can find our contact details here.

We hope to hear from you soon.

Kirsty

Debthelpneeded wrote: »

i I am due to default with MBNA , I have 2 credit cards, £3000 and £9000. I have not made a payment for 6 months as after an income and expenditure form was completed with them I was -£98 per month.

What will happen next. I have a mortgage and worried they will sell the debt and get a charging order on my house.

Really worried.... I don't know what to do as I really can't afford to pay them anything at the moment.

MikeyS

Hi there, i was wondering if you could give me some advice on a matter please. i have recently been sent a letter from Drydensfairfax solicitors after ignoring previous attempt's to contact me from Arrow Global who put a County Court judgement on me in October 2017 for £16209.87 but did not warn me that they were going to do this. I was originally paying this debt and a few others until a change of circumstances stopped me from doing this and i put my head in the sand around June 2013. This debt stems back from around 1998 -1999 for a bike loan which i stopped paying about a year after. My question is as they are now threatening 14 days to respond and bailiffs,attachment of earnings or a charging order what should i do please, any advice would be great thanks you.

StepChange_Allen

Sarahandmelissa wrote: »

Hi, I feel like I'm stuck between a rock and a hard place. I owe 3 credit cards, totalling £16k. They all have an element of 0%. I think (from my working) £5000 is subject to interest. Although the combined income of mine and my husband SHOULD be sufficient to pay these off (minimum payments plus about £300 overpayment a month), due to his gambling and withholding funds from our household budget I can barely achieve the minimum payments! I wouldn't have this debt if it weren't for him- paying off extortionate phone bills, paying for food and fuel when there's not enough in the bank. I just don't know what to do any more! My anxiety is at an all time high! I'm snsppinv at the kids and I'm worried about our future.

Hi there

Thanks for posting.

I'm sorry to hear about this difficult situation. From what you've written it sounds as though without your husband's gambling you'd be able to manage your debt repayments at the moment.

Therefore the first thing I'd suggest would be to try and put a stop to the gambling, if at all possible. If he's happy to try and stop but would find it difficult, he could seek assistance from someone like Gamblers Anonymous: www.gamblersanonymous.org.uk/ or www.gamcare.org.uk/

Continued gambling can get make debt advice tricky as it's rarely certain how much money each month will go on gambling, but we always do our best to give advice on any situation.

If you feel that you can't continue to maintain your debt repayments, please get in touch with us and complete a budget so that we can assess your options. We can also discuss possible ways to reduce high bills such as the phones you mention. All contact details can be found here: www.stepchange.org/Contactus

I hope this helps.

Allen

StepChange_Allen

liselle wrote: »

A retired friend (aged 70) has 3 credit cards all on 0 percent for another year.She says that she will be unable to pay when they revert to normal interest rates and doubts if she would be accepted for another balance transfer.However she has £2500 in savings but says that she needs that for emergencies and would not be able to save that amount again.
Some advice would be most helpful,thanks.

Hi there

Thanks for your post.

It sounds like your friend would benefit from some debt advice, so I'd recommend she gives us a call to go through a budget. The contact details can be found here: www.stepchange.org/Contactus

I can understand why she wants to keep the savings, but if she can't pay her creditors what they want, they may expect this money to be used to maintain the payments for a while, or similar. We can discuss this in much more detail once she contacts us.

I hope this is helpful.

Allen

StepChange_Allen

Soomuchdebt wrote: »

Hello

Are there any options for reducing minimum payments on credit card debt that won't affect my credit rating when trying to rent privately?

I don't want to fail the tenant referencing checks that estate agents do.

Is there anything out there that meets this requirement?

Also, are there any loans companies that will give out loans to less than desirable candidates to pay off their credit card debt, even if they aren't in good financial shape (but with no defaults or anything like that)?

Thanks!

Hi there

Thanks for posting.

In short, if your credit agreement specifies a minimum payment percentage, then this is what needs to be paid (as a minimum) each month to maintain the agreement. You can contact the companies to see if there's anything they can do to temporarily reduce them if it's a short term problem. However, if there's no expected improvement soon after, there's little point in them doing this as you'd still end up breaking the agreements.

I'd always advise caution when considering taking out further credit to pay other credit off, as it often increases the debt and often doesn't solve the problem. I speak to people every day that have borrowed more money to pay off other debt and it's just made things worse. Often this is because the interest rates can be higher if you're struggling with debt.

If you're keen on this idea, there's information on 'cheap loans' on the main MSE site, so you could have a look there.

Breaking your credit agreements certainly could make it more difficult to get a private tenancy, but it doesn't necessarily make it impossible. It depends what checks each landlord/estate agent do.

If you'd like some advice on sorting out your debts, please get in touch with us as we provide free debt advice and help. Details can be found here: www.stepchange.org/Contactus

I hope this is helpful.

Allen

StepChange_Allen

Pablo_Honey wrote: »

Back in October, I received a letter from the courts advising I had 24 hours to make a £700 payment or face having goods removed from my property. I managed to speak to the solicitor that ordered this and agreed three monthly payments via direct debit.

In December, this payment failed, due to insuffiency funds and due to other debts to multiple creditors, I’m in the process of setting up a DMP with StepChange.

I’ve now revived a Notice Of Issue Of Warrent Of Control letter threatening;

“You have not made payment under judegement your were ordered. The creditor has therefore asked for a warrent to be issued to the bailiff to seize and sell your goods. Unless you pay the amount due to the court before 18 Feb 2019 the bailiff will call and may remove your goods for sale at public auction.”

I’d be grateful if anyone could help answer any of the following;

1) Does this mean I should expect bailiffs at my properly imminently?

2) I’m paid monthly and next in a week’s time. Will I be able to contact the courts to make an offer to payments across two months? Or would it be better to speak to my creditors directly?

Hi there

Welcome to the forum and thanks for posting.

As you're about to set up a DMP with us, I'd strongly advise you to contact the team currently helping you with your plan (it depends where you are in the process as to which team/number you need). They'll have your full details in front of them to advise you on.

It sounds strange to receive a letter from a court giving you 24 hours to pay a debt in full, so we'd need to know more about this. It sounds like a county court judgement (CCJ), but with these you're given at least 30 days to make payment from the original order. If it is a CCJ, unless bailiffs (now called enforcement agents) have been in your property before, they can't force entry, though can walk in through an unlocked door.

More advice on dealing with bailiffs can be found on our website: www.stepchange.org/debt-info/bailiffs/dealing-with-bailiffs

Again, if it's a CCJ, you need directly deal with the company collecting the debt, not the court.

I hope this helps.

Allen

StepChange_Allen

MikeyS wrote: »

Hi there, i was wondering if you could give me some advice on a matter please. i have recently been sent a letter from Drydensfairfax solicitors after ignoring previous attempt's to contact me from Arrow Global who put a County Court judgement on me in October 2017 for £16209.87 but did not warn me that they were going to do this. I was originally paying this debt and a few others until a change of circumstances stopped me from doing this and i put my head in the sand around June 2013. This debt stems back from around 1998 -1999 for a bike loan which i stopped paying about a year after. My question is as they are now threatening 14 days to respond and bailiffs,attachment of earnings or a charging order what should i do please, any advice would be great thanks you.

Hi Mikey

Welcome to the forum and thanks for posting.

Once a county court judgment (CCJ) is in place and you break the agreement set by the court, the creditor can apply to take money directly from wages (attachment of earnings) or send enforcement agents (bailiffs) to your property.

It sounds like you'd benefit from some debt advice, so I'd recommend getting in touch with us so that we can assess your overall situation. Our contact details can be found here: www.stepchange.org/Contactus

We look forward to helping you.

Allen

OMS7892

Hello.

I took out a professional studies loan and could not afford the repayments at almost £300 a month. Stupidly I buried my head in the sand for 4 months before I tried to make contact to lower my repayments and get back on track. I spoke with an advisor on the phone, set up a plan but lost the account details. I called and emailed over the next few months to ask for account details to begin making payments. On the phone they could never find my account and I received no response to my emails/

After much chasing, I finally found out they sold all professional studies loans to Arrow Global. I contacted them to ask to set up a payment plan and they said it was fine but they have to make me aware that they 'may' issue a default notice. I had to keep pressing them and it turns out they issued one last week but I have yet to be provided with a copy. I gave them my new address and when I spoke with my original loan provider, I asked for all correspondence to be via email, to which he agreed.

I've been emailing Arrow Global every day since I was told a Default Notice has been issued but have not yet received a copy. I don't think I should be issued with the default because i've been trying to pay but noone could tell me where my loan was or how to pay it. Therefore it's now almost £4000 in arrears which I can't afford to pay in one go. I am arguing that I wouldn't be so far into arrears in terms of the sum or the time if they had adequately corresponded with me.

Am I correct? I will be looking to secure a mortgage in the next two years so I really need to avoid this if possible.

It's keeping me up at night worrying. Thanks in advance.