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Have we any hope at all?
woodS
Posts: 1 Newbie
Hi, really hope someone can give us some idea as to how to deal with a debt we have.
In 1998 we took out a £2100 loan for windows, shortly after I became ill with depression and anxiety and lost my job. We have paid bits and pieces toward this debt on and off and have paid off about £900 in total. We moved up to Scotland about 5 years ago and have been paying them a steady £50 a month for the last 11 months (o/h has a better job). We have never received a statement for this debt so a few weeks ago o/h asked for the balance when he phoned to make monthly payment and he was told just under £5k !!!
We sent a CCA request asking for the agreement and a statement of account which we have received, the situations has now got even worse as it turns out that there was a CCJ granted in 1999 which we never new about. To top it all off the agreement had an "interest before and after judgement" so while this has all been going on there has been interest added and the £5k figure turns out to be a settlement figure and the actual balance on the account is £12k with over £200 in interst added every month!! We are never going to be able to pay this off!!
Is there anything we can do to make this more manageable?
In 1998 we took out a £2100 loan for windows, shortly after I became ill with depression and anxiety and lost my job. We have paid bits and pieces toward this debt on and off and have paid off about £900 in total. We moved up to Scotland about 5 years ago and have been paying them a steady £50 a month for the last 11 months (o/h has a better job). We have never received a statement for this debt so a few weeks ago o/h asked for the balance when he phoned to make monthly payment and he was told just under £5k !!!
We sent a CCA request asking for the agreement and a statement of account which we have received, the situations has now got even worse as it turns out that there was a CCJ granted in 1999 which we never new about. To top it all off the agreement had an "interest before and after judgement" so while this has all been going on there has been interest added and the £5k figure turns out to be a settlement figure and the actual balance on the account is £12k with over £200 in interst added every month!! We are never going to be able to pay this off!!
Is there anything we can do to make this more manageable?
0
Comments
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Hi, I would call the CCCS on Monday http://www.cccs.co.uk/about/aboutus.aspx
They may be able to offer you advice and see if the interest on this can be frozen.
Let us know how it goes.
Merlot.x."Wisdom doesn't automatically come with old age. Nothing does, except wrinkles. It's true, some wines improve with age. But only if the grapes were good in the first place." — Abigail Van Buren0
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