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Dealing with Creditors Problem
Madangie
Posts: 5 Forumite
hi all ,
i have been paying back a debt i have for over a year now with a credit agency £20 a month , since i was made unemployed .
got a call from them today , telling me that i will now have to pay £160 a month even though when they worked out my incomings and outgoings to be around £300 a month spare. they now want half or this on the derict debit,
i offered to pay £40 a month to help as having 3 kids and loads of bills to pay
but they are still ganna try to take 160 from my account.
any help or advice would be great
i have been to bank to cancel dd just in case.
i have been paying back a debt i have for over a year now with a credit agency £20 a month , since i was made unemployed .
got a call from them today , telling me that i will now have to pay £160 a month even though when they worked out my incomings and outgoings to be around £300 a month spare. they now want half or this on the derict debit,
i offered to pay £40 a month to help as having 3 kids and loads of bills to pay
but they are still ganna try to take 160 from my account.
any help or advice would be great
i have been to bank to cancel dd just in case.
0
Comments
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What was the debt for?After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
Well done for cancelling the direct debit.
When you reach agreement on how much to pay, do it by standing order so you stay in control.
Do you want us to look at the whole picture here? If so, you're going to need to post a full Statement of Affairs - income, expenditure and debts.
Have a look at some other threads and you'll get the idea.0 -
Hi Madangie - Do you mean a Debt Collection Agency, rather than a 'credit agency'?
If so, they appear to be 'trying it on' and this is 'normal practice' insofar as anything that they do can be classed as 'normal practice'.
You are quite correct to have cancelled your direct debit. If you make any further payments, make sure that it is by Standing Order, over which you, and not they, have control.
A dca should not try and force you into paying what you can not, reasonably, afford to pay. see http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf
So stick to your guns - tell them that you can not afford to pay any more than you are currently paying, but make sure that you continue to pay that amount.
Then have a word with one of the Debt Counselling Charities, such as CAB, National Debtline or CCCS - they will help you determine a payment plan, as well as advising you on how to deal with debt collectors.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
many thanks for great advise,
had a word with bank and they told me about standing orders and yes it is a debt collection agency for a loan i had with a company.
thats what my father told me to do cancel dd and get back to them and settle a payment that i can afford to pay then make payments again,
i just got worried because the women on the phone would not budge and was very rude.
the loan amount was 1500 plus interest.
many thanks for clearing my mind a bit now.
Angie xxxx0 -
The next time they phone - just refuse to talk to them - tell them to contact you by letter only.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
What's the name of the debt company?yes it is a debt collection agency for a loan i had with a company.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0
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