Neck deep in debts

fatbelly

It's got much slower recently. I don't know why.

Andyjflet

fatbelly said:

It's got much slower recently. I don't know why.

I work in banking, with redundancies, as far as our team are concerned its due to manpower and simply not enough staff to service all departments currently.  

runforlife

tylery said:

But some of the debts show 4 missed payments but no default. Don't they just turn into CCJ's?

Some default straight away, some many months later, some just don’t. I had to complain and get my defaults backdated a couple of years into my DMP as they were marking them as an arrangement to pay which works against you in the long run. 

sourcrates

tylery said:

But some of the debts show 4 missed payments but no default. Don't they just turn into CCJ's?

We have discussed the potential for legal action at length, and in quite some detail previously on this thread.

Nothing just turns into something else where debt is concerned, one is entirely separate from the other, however a debt must default first, before any legal action can be taken.

There are various reasons why some creditors default sooner than others, and we can only guess what those reasons might be.

Just be patient, keep an eye on your credit file, and take note of any letters you might receive.

tylery

I received a letter from my defaulted loan creditor telling me to call them to negotiate and if i dont call in 72hrs they will pass the debt to a debt collection agency or solicitor..so my question is this which is the best option to negotiate with the original creditor or should i wait till the debt is passed to a debt collector and then negotiate with the DCA. I have 2 loans with the same creditor so waiting for a second default. 

Grumpelstiltskin

Do not contact them, the 72 hour thing is just an empty threat, wait for the second default.

fatbelly

Yes, that's no great threat. Just part of the process.

sourcrates

Just normal, standard collection template letter.

72 hours lol, they do make you laugh these letters, with there imaginary timescales.

I once received one off a DCA for some old debt or other and it was obvious they have simply copied it off some website, as they forgot to edit it correctly, and had left all the various option sentences in the letter, such as (add date) and (add this sentence if you want to say so and so).

I liken these letters to those competitions you see occasionally, "win a cruise" or "a new car" or one of 100 other prizes, there is one cruise, two cars, five other prize levels, and 100,000 £5 vouchers, so its always going to be the fiver, much like the letter, the solicitor is the new car, the DCA is the £5 voucher, its always gonna be the DCA.

So funny, I've never taken one seriously since.

tylery

sourcrates said:

Just normal, standard collection template letter.

72 hours lol, they do make you laugh these letters, with there imaginary timescales.

I once received one off a DCA for some old debt or other and it was obvious they have simply copied it off some website, as they forgot to edit it correctly, and had left all the various option sentences in the letter, such as (add date) and (add this sentence if you want to say so and so).

I liken these letters to those competitions you see occasionally, "win a cruise" or "a new car" or one of 100 other prizes, there is one cruise, two cars, five other prize levels, and 100,000 £5 vouchers, so its always going to be the fiver, much like the letter, the solicitor is the new car, the DCA is the £5 voucher, its always gonna be the DCA.

So funny, I've never taken one seriously since.

😂😂😂😂 yah i thought so 

tylery

tylery said:

I received a letter from my defaulted loan creditor telling me to call them to negotiate and if i dont call in 72hrs they will pass the debt to a debt collection agency or solicitor..so my question is this which is the best option to negotiate with the original creditor or should i wait till the debt is passed to a debt collector and then negotiate with the DCA. I have 2 loans with the same creditor so waiting for a second default. 

Grumpelstiltskin said:

Do not contact them, the 72 hour thing is just an empty threat, wait for the second default.

The first default is now passed to debt collector. The second debt no default. I wonder why they are not defaulting the other debt which have a higher amount. First default small amount. I have now received a ANNEX 1 INFORMATION SHEET