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Thinking of a DMP
Comments
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Hi, me again, sorry. I am ready to cancel all my DDs and have read through lots of threads on this page for reassurance. I do have one concern. I have 4 x loans with Novuna which cost me £1100 per month. Original debt was £40k and although I have paid £19k, the original debt is still £34k due to interest.
I read another thread about someone who had a Natwest loan of £18k and they went straight to CCJ. Comments mentioned that the person was unlucky for this to happen and it was probably due to the size of the debt. This has worried me as my Novuna debt is almost double that. If I get a CCJ I am at serious risk of losing my job due to security clearance.
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Hi, me again, sorry. I am ready to cancel all my DDs and have read through lots of threads on this page for reassurance. I do have one concern. I have 4 x loans with Novuna which cost me £1100 per month. Original debt was £40k and although I have paid £19k, the original debt is still £34k due to interest.
I read another thread about someone who had a Natwest loan of £18k and they went straight to CCJ. Comments mentioned that the person was unlucky for this to happen and it was probably due to the size of the debt. This has worried me as my Novuna debt is almost double that. If I get a CCJ I am at serious risk of losing my job due to security clearance.
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Tracy please stick to one thread.
If you go down to the woods today you better not go alone.0 -
This would be unusual. And you can make it even less likely by making an affordability complaint to Novuna.
If you were taken to court, you could also apply for a Tomlin order because your job would be at risk.
An alternative would be for your husband to default on all his debts but you carry on paying yours AND you both make affordability complaints about all of your debts.,
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Thank you ManyWays.
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Sorry for any confusion , I have merged two threads .
I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments 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.2 -
Direct debits cancelled yesterday. Will submit affordable lending letters tomorrow and ask for copies of CCAs. Then just sit and wait.
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Lending complaints can take 3/6 months or more depending on the complexity of the case.
Likewise CCA requests, although as all your debts are still non defaulted and with the original creditors, you can expect a much quicker response.
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-letter2 -
I have had the most amazing call this morning from Novuna. I took out 4 loans with them totalling £40k with high interest rates. 3 of the loans were within a 9 month period. I sent an affordability email and they called to say they shouldn't have given me the loans and will be wiping all interest and fees. They will send me letters in the next few days but I'm expecting it to be around £16k.
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that is amazing!!
DFW info LBM: March 26
Total 03/26 69,481
"You put one foot in front of the other and one day you look back and see that you have climbed a mountain" Ready for the climb.💪
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