How do I start getting out of debt?

srichards

I got my equifax credit file today, knowing I am in a fair bit of debt, I want to clear it and rebuild my credit.

It showed I have financial links to my ex husband (been divorced 5 years), he commited fraud (cat 4) when applying for a loan last summer (at our address from 5 years ago).

His new wife/gf (?) was listed as 2 aliases that I am supposed to be (I have no idea who she is) but her TWO names are listed as my aliases.

It shows their mortgage applications.

I have applied to be disassociated form them as I have nothing to do with either of them.

So this should help a bit on my credit file??

ALso I found that a large loan which had about 9k left was marked as being satisfied/settled 3 years ago. Im not sure why its listed as such, but as it is then does this mean its over and done with?

And I appear to have no more than about 8k of debt, a lot less than I originally thought.

I have written to the main creditors (cards/banks) offering around 60% of the balance that I will pay in full and final settlement - I have yet to hear from them. - Are they likely to agree??

Should I also try this with the store cards/catalogues?

I also have one ccj from last Dec for the sum of £258. Before this went to court I did make a payment to them but they returned it to my bank and took me to court instead.

Also, I start a new job next week and i get a company credit card with that, am I likely to be turned down becuase of my personal bad credit?


Im not sure the best way to go about things, and although Ive read so much great info on this site, I am still a bit confused with which way to turn.

Thanks for reading x

poppyg_2

srichards wrote: »

I have written to the main creditors (cards/banks) offering around 60% of the balance that I will pay in full and final settlement - I have yet to hear from them. - Are they likely to agree??

Should I also try this with the store cards/catalogues?

Have you been paying anything towards these debts recently?

poppyg_2

srichards wrote: »

ALso I found that a large loan which had about 9k left was marked as being satisfied/settled 3 years ago. Im not sure why its listed as such, but as it is then does this mean its over and done with?

Was this a name taken out in joint names with your ex or just yours? Did you think you still owed money on this or had you paid some sort of settlement?

Best thing might be to post a SOA, including all your debts as well as the APRs. I'm not an expert by any stretch of the imagination (in a lot of debt myself) but there'll be loads of people that can help I'm sure

srichards

poppyg wrote: »

Have you been paying anything towards these debts recently?

I havent becuase Ive been out of work, but I made a repayment plan with barclaycard last week to pay £7 a month. Im sorry to say that I panicked, got frightened (bailiffs etc) and completely hid from everyone - doors, letters, phone calls.

Was this a name taken out in joint names with your ex or just yours? Did you think you still owed money on this or had you paid some sort of settlement?

Best thing might be to post a SOA, including all your debts as well as the APRs. I'm not an expert by any stretch of the imagination (in a lot of debt myself) but there'll be loads of people that can help I'm sure

It was signed by myself about 6 years ago, although it was not requested by myself. The (ex) husband went to the bank to sort his account out and came back with a whopper of a loan aggreement in my name, being the violent abusive bully he was, I was forced into signing it.

I kept up with huge payments every month until 2 years ago where i just couldnt pay it anymore, and it went into default. But now its showing as settled.

I dont know what an SOA is sorry.

kizzykizzywizzy

srichards ignore last post by pauliej1980

Reported as:spam:

kizzykizzywizzy

An SOA is a statement of affairs, there is a sticky at the top of this forum, which will explain.
You will need to list your income & outgoings APRs terms of any loans etc ( if you want to that is ) & usually people on here are able to save you a few£££ by making suggestions where you can cut back to allow more money to be freed up to pay the debt off quicker

srichards

kizzykizzywizzy wrote: »

srichards ignore last post by pauliej1980

Reported as:spam:

lol I thought as much as soon as I saw $ sign!!

An SOA is a statement of affairs, there is a sticky at the top of this forum, which will explain.
You will need to list your income & outgoings APRs terms of any loans etc ( if you want to that is ) & usually people on here are able to save you a few£££ by making suggestions where you can cut back to allow more money to be freed up to pay the debt off quicker

Thanks!

Im not sure exactly what my income will be every month. I did a quick calculation with the salarycalculator website and it gives it as approx £1600 a month, but then I dont know how much I will be taxed on my company car and the fuel card tax. Im guessing i will take home about £1300. Then theres £700 of rent and CT to go out of that.

Is it a good idea to wait until Ive had a proper months pay before i do a SOA?

Many thanks

kizzykizzywizzy

Don't want to leave you dangling!! not really sure myself, but I suppose if you did list them as they are now, at least the peeps on here can see if there are any suppliers you can change, or have any ideas, like possibly paying council tax over 12 months ( some councils don't allow this ) etc etc
I'm off to get some zzzzzzzzzzz's if you do manage to post your SOA tonight & don't get any answers, just bump the thread in the morning there may be a few more people about
Night Night & don't worry, I'm sure there will be something you can do to sort this out

srichards

Thanks luv, sleep well!

poppyg_2

srichards, I think it could still be useful for you to post your outgoings even if you don't know exactly what your wages are going to be, am sure people would still be able to offer help/advice x x

Deep_In_Debt

Hi srichards. In terms of company credit card, I have one and my credit is pretty bad. My company didn't do any credit checks on me. Don't think they needed to since the card is listed to the company and not me personally and the bill is paid by the company. I just have to approve the bill and it gets paid. Wish I'd been able to do that with my own credit cards!