Debt advise

in Debt-free wannabe
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Muzz1984Muzz1984 Forumite
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Hi all long time lurker here
but decided to finally post. In quite a bit of debt  36kish a dont no exact cos its just depressing. 
I have 7 creditors , 5 defaulted but one of them will not default me  been on £1 token payments for the past 2 years and the last 9 months ive not paid them a penny. Filled a complaint but got rejected basically.
Any advise anybody?

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  • Muzz1984Muzz1984 Forumite
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    What a waste of time
  • sourcratessourcrates Forumite
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    Rules on defaults are just guidelines, you've complained and gotten no where, and the FOS will likely side with the creditor on this.

    It`s more than likely a default will be registered at some point in the future, when the debt is sold for example, at that point, you could make an argument to have it backdated.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • sourcratessourcrates Forumite
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    Muzz1984 said:
    What a waste of time
    No patience.......tut tut.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • Muzz1984Muzz1984 Forumite
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    Not my greatest attribute ha
  • fatbellyfatbelly Forumite
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    Muzz1984 said:
    Hi all long time lurker here
    but decided to finally post. In quite a bit of debt  36kish a dont no exact cos its just depressing. 
    I have 7 creditors , 5 defaulted but one of them will not default me  been on £1 token payments for the past 2 years and the last 9 months ive not paid them a penny. Filled a complaint but got rejected basically.
    Any advise anybody?
    I agree with sourcrates on the default issue.

    On the larger issue, token payments are not a very good strategy unless there really is no other option. Are you a homeowner? If not you may want to have a look at bankruptcy and start saving for the fee.
  • Muzz1984Muzz1984 Forumite
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    Good morning, we rent currently.
    19k of the debt is a joint loan with my partner  which we pay a bit towards.
    The rest of the debts are in my name only and just pay token payments towards.
    A dont really want to go bankcrupt for
    17k. A do know thou a need to sort this mess out thou just trying to figure out the best approach.
  • RASRAS Forumite
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    Have you heard of a debt relief order? A bit like bankruptcy but intended for much lower amounts. And lasts one year.

    Basic rules: under £30K debt, no high cost assets like house or car (£2000 max), less than £75 left per month after paying living expenses. Costs £90. and you'd both have to use a DRO if you wanted to clear the joint debt.

    Give stepchange or national debtline a call, contact via sourcrates' signature above.

    The person who has not made a mistake, has made nothing
  • Muzz1984Muzz1984 Forumite
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    We have to much surplus income, well my wife has but she is going to be buying a house in a year or so, so dont want anyfing to effect  that like.
  • RASRAS Forumite
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    Your debt is already defaulted. And the debt outstanding? Does you wife also have debts, other than the joint one?
    The person who has not made a mistake, has made nothing
  • Muzz1984Muzz1984 Forumite
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    Nope she has just the one joint loan
    all rest of the debts are in my name.
    Its defaulted almost 2 years now
    we do pay towards it like.
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