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Default Notice - Virgin CC

TAWNP_92
TAWNP_92 Posts: 19
10 Posts Name Dropper First Anniversary
Forumite
in Debt-free wannabe
Hi everyone 👋 

I’m a long time lurker on these threads; I’ve got £55k in debt through what is frankly, terrible money management over the last 10-15 years which I’m now trying to address.

Ive received my first default notice today with Virgin CC telling me that I have until 3rd Feb to either pay them the minimum payment or they’ll report to credit reference agencies etc.

My question is whether I contact them to make a token payment or, whether I let the 3rd Feb come and go? I’ll try and take a pic of what they say possible actions are if I don’t pay. 

Any help would be much appreciated please! 
«13

Comments

  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite

    This is what is on the end of the letter. Guidance on whether I do a token payment now, or wait, would be appreciated please.
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 6,147
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    That is just the normal default notice.

    Problem is it's difficult to advise you without knowing the full picture, so if you can complete a SOA we can see the full picture and give you the best advice.
    If you go down to the woods today you better not go alone.
  • SpireCaptain
    SpireCaptain Posts: 205
    100 Posts Name Dropper
    Forumite
    Following with interest and to support from the sidelines. I'm in this predicament too so hopefully we'll be able to give moral support. 

    You're definitely in the right place and as you've been lurking so long you know you've done the right thing defaulting first. I'm just getting my ducks in order before girding my loins to cancel DDs. 
  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite
    Grumpelstiltskin said:
    That is just the normal default notice.

    Problem is it's difficult to advise you without knowing the full picture, so if you can complete a SOA we can see the full picture and give you the best advice.
    Thank you! I’ll do this. I’m married but these are all my debts so I won’t include my husband in the SOA, just my contributions if I’ve understood previous posts that I’ve seen correctly? 
  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite
    SOA done. NOT including my husband’s income in here. This is my mess, not his, to sort. All figures are my contributions (Things like car insurance we pay each as they are pretty much the same each month).

    We have a car each which is essential due to work commitments and having two small children before anyone asks if we could get rid of one. 

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 2590
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 2590[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 595
    Secured/HP loan repayments.............. 198
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 75
    Electricity............................. 110
    Gas..................................... 50
    Oil..................................... 0
    Water rates............................. 40
    Telephone (land line)................... 0
    Mobile phone............................ 38
    TV Licence.............................. 7
    Satellite/Cable TV...................... 0
    Internet Services....................... 20
    Groceries etc. ......................... 350
    Clothing................................ 75
    Petrol/diesel........................... 0
    Road tax................................ 18
    Car Insurance........................... 80
    Car maintenance (including MOT)......... 75
    Car parking............................. 30
    Other travel............................ 0
    Childcare/nursery....................... 250
    Other child related expenses............ 70
    Medical (prescriptions, dentist etc).... 60
    Pet insurance/vet bills................. 65
    Buildings insurance..................... 15
    Contents insurance...................... 15
    Life assurance ......................... 32
    Other insurance......................... 10
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 30
    Entertainment........................... 50
    Holiday................................. 100
    Emergency fund.......................... 150[b]
    Total monthly expenses.................. 2658[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 33000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 33000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 235000...(595)......0
    Hire Purchase (HP) debt ...... 7792.....(198)......0[b]
    Total secured & HP debts...... 242792....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    MBNA CC........................11359.....350.......28.05
    Virgin CC......................14523.....414.......22.48
    Santander CC...................6547......178.......22.48
    Admiral Loan...................16600.....303.......9.8
    Antelope Loan .................14712.....433.......15.2[b]
    Total unsecured debts..........63741.....1678......-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 2,590
    Expenses (including HP & secured debts). 2,658
    Available for debt repayments........... -68
    Monthly UNsecured debt repayments....... 1,678[b]
    Amount short for making debt repayments. -1,746[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 33,000
    Total HP & Secured debt................. -242,792
    Total Unsecured debt.................... -63,741[b]
    Net Assets.............................. -273,533[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite
    Sorry, up to date SOA here. House value is £330000, not £33000 as I put originally.

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 2590
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 2590[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 595
    Secured/HP loan repayments.............. 198
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 75
    Electricity............................. 110
    Gas..................................... 50
    Oil..................................... 0
    Water rates............................. 40
    Telephone (land line)................... 0
    Mobile phone............................ 38
    TV Licence.............................. 7
    Satellite/Cable TV...................... 0
    Internet Services....................... 20
    Groceries etc. ......................... 350
    Clothing................................ 75
    Petrol/diesel........................... 0
    Road tax................................ 18
    Car Insurance........................... 80
    Car maintenance (including MOT)......... 75
    Car parking............................. 30
    Other travel............................ 0
    Childcare/nursery....................... 250
    Other child related expenses............ 70
    Medical (prescriptions, dentist etc).... 60
    Pet insurance/vet bills................. 65
    Buildings insurance..................... 15
    Contents insurance...................... 15
    Life assurance ......................... 32
    Other insurance......................... 10
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 30
    Entertainment........................... 50
    Holiday................................. 100
    Emergency fund.......................... 150[b]
    Total monthly expenses.................. 2658[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 330000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0[b]
    Total Assets............................ 330000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 235000...(595)......0
    Hire Purchase (HP) debt ...... 7792.....(198)......0[b]
    Total secured & HP debts...... 242792....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    MBNA CC........................11359.....350.......28.05
    Virgin CC......................14523.....414.......22.48
    Santander CC...................6547......178.......22.48
    Admiral Loan...................16600.....303.......9.8
    Antelope Loan .................14712.....433.......15.2[b]
    Total unsecured debts..........63741.....1678......-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 2,590
    Expenses (including HP & secured debts). 2,658
    Available for debt repayments........... -68
    Monthly UNsecured debt repayments....... 1,678[b]
    Amount short for making debt repayments. -1,746[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 330,000
    Total HP & Secured debt................. -242,792
    Total Unsecured debt.................... -63,741[b]
    Net Assets.............................. 23,467[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 6,147
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    Can you explain which expenses are split and do you pay 50% of these expenses as some appear high.
    If you go down to the woods today you better not go alone.
  • sourcrates
    sourcrates Posts: 32,989
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Ambassador
    Is the above letter sent under sec 87(1) CCA ?

    If so its just a standard default notice, wait until it expires and you are written too again.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite
    Grumpelstiltskin said:
    Can you explain which expenses are split and do you pay 50% of these expenses as some appear high.
    Most are split 50-50, except the pet insurance which I pay (Pet is mine and predates my husband), along with medical (Detailed below). Some of them, for example, holidays, my husband contributes considerably more to as he earns more, has less debt etc. My car is electric so I contribute slightly more to the electricity bill than he does. He pays for diesel for his car. My £80 for car insurance covers my monthly payments for my car. My husband pays for his (Which incidentally are pretty much the same as mine). 

    Groceries etc, we easily spend £700 a month on - We make a point of trying to limit eating out, spending money on takeaways etc. This also includes cleaning supplies, pet food etc.

    The medical one covers £10 for a repeat prescription and £50 per month for contact lenses (I can’t wear glasses due to SEN child who grabs them and has broken them too many times). Again, not negotiable to reduce/get rid of. 

    Hope this helps!
  • TAWNP_92
    TAWNP_92 Posts: 19
    10 Posts Name Dropper First Anniversary
    Forumite
    sourcrates said:
    Is the above letter sent under sec 87(1) CCA ?

    If so it’s just a standard default notice, wait until it expires and you are written too again.
    It is, yes! Thank you ☺️
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