Struggling with debt? Ask a debt adviser a question

round_one · 16 April 2019 at 3:58PM

Hey,

It's very informative content.

Last month, I'm struggling with debt.

One of my friends, tell me about FreeDebtHelpline.org

But, I'm pretty sure It's suitable for me?

My friends say. it's a Uk leading Debt Charity advertiser.

Please help me with this matter.

Thanks

StepChange_Allen · 16 April 2019 at 5:39PM

Barbie61 wrote: »

Hello, I have a DMP in place which has been running for 3 years, I haven't adjusted the figure I pay despite direct debits increasing each year but now I am worried about the upcoming increase to the workplace pension this month and wondering if I should opt out. I only have another 8 years of working life left so it won't be anything impressive on retirement and I'm weighing this increase up against paying off more of my debt so that its paid earlier. I know you're not pension experts and not allowed to give advice but I'm concerned that if I reduce my monthly payment on the DMP that the creditors will want to take me to court or refuse to honour the 0% interest they have kindly agreed to.

Hi there

Thanks for posting.

I'm not sure if your DMP is with us or not, but certainly here we do an annual review of all DMPs, and encourage our clients to contact us upon any changes to their income and expenditure of any note.

It's quite normal for DMP payments to go up and down, so I'd suggest that you do a review with whoever is managing your plan for you. Whether you opt in or out of a workplace pension is entirely up to you, but if your bills or living costs have increased over and above any increase in income, then your monthly payment may need to come down anyway.

I hope that helps.

Allen

StepChange_Rachael · 17 April 2019 at 9:39AM

Hi

Thanks for messaging.

I’m not entirely sure who this organisation/company is. There are many different companies that run as debt advice services, some charge fees and others may only provide advice and then re-direct you to an outside company that again might charge fees to help manage a solution.

If you’re looking for free debt advice and recommended solution through one organisation then at StepChange we’d be happy to help you.

You can find more information from our website here, where you’ll also find our contact details.

Thanks
Rachael

round_one wrote: »

Hey,

It's very informative content.

Last month, I'm struggling with debt.

One of my friends, tell me about FreeDebtHelpline.org

But, I'm pretty sure It's suitable for me?

My friends say. it's a Uk leading Debt Charity advertiser.

Please help me with this matter.

Thanks

GOODIN · 17 April 2019 at 11:16AM

Hi,

I recently got sent a letter and email from Lantern claiming I owe them £1625 for 4 different payday loans from 2013/14. All debts are showing settled/satisfied on my credit report so I sent them a prove it letter, this is the response I received

"Thank you for your recent communication in relation to the above referenced account number.

Our investigations may involve liaising with the original creditor or previous owner of the debt which can take some time. We will aim to respond to you with our findings within 30 days from the date of this communication. If further time is required, we will notify you accordingly.

Your account has been placed on hold until we have concluded our investigations.
Yours sincerely
Lantern"

The thing is they're calling my mobile and I've received nothing else in writing, just wondering what my options are? Should I be doing more than just ignoring the calls and waiting for a written response.

Any advice would be great.

StepChange_Kirsty · 17 April 2019 at 3:44PM

Hi there,

Thanks for your post and welcome to the forum.

If Lantern is still contacting you by phone despite saying it is on hold I would recommend making a formal complaint. As part of the complaint you can also request they remove your telephone number and only contact you in writing.

Lantern will have 8 weeks to respond to your complaint but if you’ve not received a response after 8 weeks or you are not happy with the response you can escalate your complaint to the Financial Ombudsman Service. You can find their details here.

I hope this helps,

Kirsty

GOODIN wrote: »

Hi,

I recently got sent a letter and email from Lantern claiming I owe them £1625 for 4 different payday loans from 2013/14. All debts are showing settled/satisfied on my credit report so I sent them a prove it letter, this is the response I received

"Thank you for your recent communication in relation to the above referenced account number.

Our investigations may involve liaising with the original creditor or previous owner of the debt which can take some time. We will aim to respond to you with our findings within 30 days from the date of this communication. If further time is required, we will notify you accordingly.

Your account has been placed on hold until we have concluded our investigations.
Yours sincerely
Lantern"

The thing is they're calling my mobile and I've received nothing else in writing, just wondering what my options are? Should I be doing more than just ignoring the calls and waiting for a written response.

Any advice would be great.

StepChange_Kirsty · 17 April 2019 at 4:05PM

Hello,

Thanks for your post.

Yes County Court Bailiffs would be able to access information about the keeper of a vehicle much more quickly that completing the DVLA form. They can use Automatic Number Plate Recognition technology (ANPR) to find out this information immediately.

If you’re experiencing difficulty with any debts where a bailiff has been instructed I would highly recommend seeking debt advice. You are welcome to contact StepChange for free and confidential advice. You can find our contact details here.

I hope this answers your question.

Kirsty

slimbee wrote: »

Hello, this is my first post and I have searched but do not know how to create a new thread so I'm posting here as it's along the same lines.

My question is: Do county court bailiffs have to complete a version of DVLA form V888 to obtain vehicle keeper information, or do they have an expedited way? I understand that they can ask neighbors etc, I only want to know if they have an official process which is faster than mailing said form.

My apologies if this is the wrong section. Any help pointing me in the right direction would be most appreciated. Thank you

KM1988 · 22 April 2019 at 2:32PM

Hi there

Over the past 3 years I’ve had a credit card I just keep putting more and more on and paying off the minimum and get charged a huge apr every month. I’ve had my head in the sand but now want to do something about it.

It’s now totalling £5,000 and I don’t know what to do. Should I get a loan to pay off and pay off the loan? Or would I be able to get a balance transfer on a credit card for that much? I can’t seem to find out how much a new card with 0% would offer me without applying and I’m scared I mess it up.

My credit rating is good overall.

Thank you for your help.

Kayleigh

SpendyWendy · 22 April 2019 at 6:09PM

Hi due to my high level of debt I have decided to consider an IVA. All debts are in my name however I own a home jointly with my husband (joint mortgage) if I do take out an IVA can our equity be affected or challenged? Thank you

StepChange_Kirsty · 23 April 2019 at 8:43AM

Hi Kayleigh,

Thanks for your post and welcome to the forum.

We can’t advise on taking out further credit as this is not our specialism however the main MSE website has lots of information on balance transfer credit cards that may be able to help. Often with credit cards they will not tell you what your credit limit is until you’ve applied.

If you’re considering a loan then do make sure you cut up your credit card and close the account once the balance is paid. In our experience loans that are used to consolidate can often cause more problems as they tend to carry high interest rates and can lead to more debt.

Paying the minimum on the credit card each month will not reduce the debt very quickly so if it’s possible try to pay above the minimum. On the other hand if you’re struggling to maintain payments to the debts you’re welcome to contact us at StepChange and we can provide you with further help and advice. You can find our contact details here.

Kirsty

KM1988 wrote: »

Hi there

Over the past 3 years I’ve had a credit card I just keep putting more and more on and paying off the minimum and get charged a huge apr every month. I’ve had my head in the sand but now want to do something about it.

It’s now totalling £5,000 and I don’t know what to do. Should I get a loan to pay off and pay off the loan? Or would I be able to get a balance transfer on a credit card for that much? I can’t seem to find out how much a new card with 0% would offer me without applying and I’m scared I mess it up.

My credit rating is good overall.

Thank you for your help.

Kayleigh

StepChange_Kirsty · 23 April 2019 at 9:05AM

Hi there,

Thanks for your post and welcome to the forum.

When you enter into an individual voluntary arrangement (IVA), the Insolvency Practitioner will want to enter a restriction against the property which would alert them to any changes with the property whilst the IVA is in place. This does not give the Insolvency Practitioner an interest in the property but they will need to inform the joint owner about the restriction.

Six months before the end of the IVA you would then be expected to attempt to remortgage against your share of the equity in the property in order to release the funds to pay back to your creditors. It is extremely unlikely you’d be able to remortgage when you have an IVA on your credit file. If you’re unable to remortgage and there is equity available then you would usually need to pay into the IVA for an extra 12 months.

If you’d like to find out if an IVA is suitable for your individual circumstances we can give you some help and advice at StepChange. You can find our contact details here.

I hope this helps.

Kirsty

SpendyWendy wrote: »

Hi due to my high level of debt I have decided to consider an IVA. All debts are in my name however I own a home jointly with my husband (joint mortgage) if I do take out an IVA can our equity be affected or challenged? Thank you

Struggling with debt? Ask a debt adviser a question

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