Debt Question

Anon_09

Hi all,

Firstly thank you for taking the time to read this.

I have followed the steps on a DIY plan, so far I have cancelled the direct debits for the loans and credit cards to stop all payments.

Based on recommendations I have ignored calls other than to state I want everything in writing and no more calls.

I have had letters come through, emails and texts regarding missing 1/2 payments etc and stating how to get up to date and make payments to avoid any further issue.

These letters have a default information letter attached but from what I am reading it’s not an official default letter (yet)?

 The letters about missed payments are coming thick and fast, is this normal?

When I spoke to one of the creditors on the phone (Virgin) the guy on the phone didn’t like the fact I wouldn’t disclose who was advising me to take these steps and was pushing for more information and was trying to get me to set up ‘breathing time’ and arrange payments with them. As I wasn’t sure what to do I did decline.

Am I making the right steps so far? If anyone has any further thoughts or advice please let me know.

Thank you

Grumpelstiltskin

Never spek to your creditors on the phone. You are put through to  minimum wage person in a call centre. They only know what is on their script, they have no authority you are wasting your time and money speaking to them.

sourcrates

Stop speaking to your creditors on the phone for starters.

All late payment letters are computer generated garbage basically, ignore them.

A default will occur once you have missed between 3/6 contractual repayments, you will get a letter in the post, it will state what it is, a default notice issued under sec 87(a) consumer credit act, it will give you 14 days to repay your arrears or else a default will be registered with the credit reference agencies.

Not to be confused with letters that state they are charging you a "£12 default sums in arrears fee" that`s just a late payment fee, and absolutely nothing to do with defaulting the account.

So no, you don`t want breathing space, its an utter and complete waste of everyone's time, and yes, you are doing things the right way, carry on, as they say.

MattMattMattUK

Anon_09 said:

Hi all,

Firstly thank you for taking the time to read this.

I have followed the steps on a DIY plan, so far I have cancelled the direct debits for the loans and credit cards to stop all payments.

Based on recommendations I have ignored calls other than to state I want everything in writing and no more calls.

I have had letters come through, emails and texts regarding missing 1/2 payments etc and stating how to get up to date and make payments to avoid any further issue.

These letters have a default information letter attached but from what I am reading it’s not an official default letter (yet)?

 The letters about missed payments are coming thick and fast, is this normal?

Yes, and the language will generally get more threatening, but you can ignore the threats and only need to worry about the notice that they have defaulted you, and potentially LBA and/or court documents.

Anon_09 said:

When I spoke to one of the creditors on the phone (Virgin) the guy on the phone didn’t like the fact I wouldn’t disclose who was advising me to take these steps and was pushing for more information and was trying to get me to set up ‘breathing time’ and arrange payments with them. As I wasn’t sure what to do I did decline.

They want you to do that because it flags as an internal action point. As Grumple says, stop communicating with them on the phone.

Anon_09 said:

Am I making the right steps so far? If anyone has any further thoughts or advice please let me know.

Thank you

Are you putting money into a safe bank account as an emergency fund etc.? It might also be useful to post an SOA.