Debt advise 7 June 2022 at 9:09AM in Debt-free wannabe 10 replies 602 views

Muzz1984

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?

Muzz1984

What a waste of time

sourcrates

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.

sourcrates

Muzz1984 said:

What a waste of time

No patience.......tut tut.

Muzz1984

Not my greatest attribute ha

fatbelly

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.

Muzz1984

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.

RAS

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.

Muzz1984

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.

RAS

Your debt is already defaulted. And the debt outstanding? Does you wife also have debts, other than the joint one?

Muzz1984

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.