11 letters and the replies start coming

stu12345_2

Please read all of this---

myself and wife are now at the point where it's a DRO or bankruptcy or creditor write off in order to clear consumer debts.£22,000 .
( had to stop our self managed dmp cos I dropped to a lower paying job for legitimate reasons)

we wrote letters last week  to our 11 creditors, showing income expenditure, stating we only have about 50 pence to give them each., no real assets and please write off debt as we are considering DRO or bankruptcy as it is impossible to repay the £22000 in any sort of dmp.

Link financial wrote to say account on hold for 30 days to see if our situation improves.and they can't at this stage pass it to their write off team.

PRA said account on hold 30 days, please support your case with bank statements, tenancy agreement , proof of any other creditors,and proof of any assets.Then they will consider writing debt off.and they said they will look at our credit files and land registry.

moorcroft, emailed, saying they will pass my letter to their client,( my creditor) RBS bank.

the problem we have is on bank statements for me, it shows as if I pay all the bills and shopping etc100% and as the d.debits come from me, not wife,but  she transfers random amounts of  money from her wages to me though to help pay bills.

wife's bank statements show money going to me and the rest withdrawn as cash monthly with no proof where the cash went or spent on .and the rest in standing orders to creditors ( now stopped)

my old employer is still to pay me owed final wage and holiday pay over the  next 7 weeks,  their policy is to pay out money owed over 2 paydate periods,, £1100, so it will show up in bank statement as if I'm still working for them, even though I'm not.
my new employer has still to pay my first wage( which will be emergency taxed,) paid monthly.which is small wage anyway 

I'm still due a refund from nest pension which old employer auto enrolled me last month.£85.where I'm still not registered on nest website!! to start the refund application.

my car is too old to get a parkers value, it's 17 years old banger. I got it on eBay 3 years ago, I have  the v5 I can email creditors , I have no bill of purchase, paid cash on eBay collection.of car from seller.

we are over 55, wife has a SIPP pension worth only £150 total balance !!. that she can cash in 

we are only  due tiny bit of Universal credit, that's all, no other benefits , and  cos we still work , just applied UC last week,and as we are over the EAT threshold limit in UC ,meaning we are in the group that doesn't have to apply for new high paid jobs.

and as it uses live feed data from PAYE, these late payments still to be paid from old employer means we will get nothing till at least end of August.cos it thinks I'm running old job and new job total wages at same time, it's not the same system as JSA.

I have also not included my contents insurance and pet insurance in my income , expenditure I told them about in our letters, as I only took policies out yesterday,( we needed  these as sensible insurance)now we are in negative monthly balance, hence creditors, being told now will show they can't even get 50 p., 

we have £680 left in our basic Bank accounts( our only bank accounts  we have)each which is being kept back  from spending,if we need to go bankrupt fees ( do we need to explain that to  these 11 creditors)?

we are due a phone call from Christians against poverty this Wednesday to apply for a solution if possible., cos money wellness ( who we spoke to last week)were useless and couldn't do a DRO application correctly.{ they said we would be forced to get high paid jobs mid term, which would cancel DRO, (but as we are above the EAT in UC, we aren't subject to that )!!

they kept saying up your wages and we will get you an IVA, for goodness sake I own no house I told them, we rent council !

so how do I explain all these points to creditors in the things they want to see, should I send these things in next 30 days to them, if so when exactly, which bits do I show or explain to them.

 or  how, when to explain/ show all these complications to the Christians against poverty help were due to get this week 

this is a logistical nightmare and it's really a face to face meeting with someone that will write all this down and tell us when and exactly what to say or do, how to fill in what forms and how to do it., 100% accurately, which I doubt we will as there is just too much loose ends to find or not find or explain.

cos there is too much going on, we are overwhelmed by the logistics of it all., so much paperwork, so confusing .I think  I am an  intelligent person, wife isn't( she admits so) her emails and paperwork is an alladins cave, she freezes on phone, she gets me to write all the correspondence,but this is daunting and overwhelming.

this is worse than moving house.

elsien

Your last thread on the topic was only 5 days ago. As nothing has changed since then I'm unclear what else you expect people to say that hasn't already been said?
You already know what your options are. Down to you to choose one as your hope that all your creditors will simply wipe out your existing debts may not be entirely realistic. 

stu12345_2

Elsien, I'm asking how to respond to creditors and by when, plus  about the difficulties in showing evidence to explain our situation, how we can't pay, what if we can't produce it all yet, how to explain the things that need further explanation. on things we can produce 

i mean the confusion in the transactions in our bank statements, the UC will be  showing nil, cos of the old employer delay in final pay., money wellness  giving out info wrong, difficulty  in proving car value and ownership , new wages not in bank yet, and will be in wrong tax code.
things that aren't clear cut and simple.

as the 11 letters we wrote were more of an update to our creditors. awaiting for their replies.
today I have gave out some of their replies and how they differ..

it's not simply about debt write off, it's about what comes next after the 3O days, what should be best in folks opinions, perhaps based on experience , they have had or read about,

reply now to them?, or consider what Christians against poverty say first, that's if they have a solution that will work fast or if they don't, wait till all our paperwork is easier to explain, and produce, which may be in 60 days plus, when things are more organised and running smoother.

Brie

If you're both going to go for DROs then wait til you've talked to CAP.  They should be able to advise on that.  And hopefully can do the applications for you as you will not be able to do them yourselves.

sourcrates

Stu, 

Sorry your going through all this hassle, I have suggested this before, and I will suggest it again, pick a strategy, and stick to it, the write off approach seems as good a place to start as any.

The thing with DRO`s etc, is your getting too much conflicting advice from different sources, there`s just far too much going on to concentrate on it with any degree of certainty, I'd shelve everything but the write off option for now, see how that pans out.

You know it won`t be quick, and you don`t have to complete every bit of info they ask for, with bank statements for example, your working yourself up over this payment and that payment, just take selected screen shots of income and utilities, for example, leaving the account, and leave it at that.

Keep it simple stu, don`t overthink everything, write off`s take time, stick to the script, you can`t afford payments, accounts will go on hold, after every hold period, they may ask if things have changed, say no, situation still the same.

Your worry process is making this ten times harder than it needs to be, you need to concentrate on write offs and nothing else, let the process develop, it takes time stu, try and be patient.

stu12345_2

thanks sourcrates, think my concern is if CAP recommend DRO , they may expect forms to be filled in quickly , where as I mentioned  in my post, some of the  documents  I will have to show is topsy turvy or complex to produce./ evident

when I would like to see however small a chance of a write off first.( even though that may take months before creditors say yes or no)