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    • MSE Andrea
    • By MSE Andrea 18th Nov 16, 1:05 PM
    • 9,375Posts
    • 22,227Thanks
    MSE Andrea
    Struggling with debt? Ask a debt adviser a question
    • #1
    • 18th Nov 16, 1:05 PM
    Struggling with debt? Ask a debt adviser a question 18th Nov 16 at 1:05 PM
    If you need help with your debts, this is the thread for you.

    Trained advisers from StepChange Debt Charity (formerly CCCS) are here and waiting to answer your debt questions. They're a friendly bunch so please don't be shy!

    There are three ways to get in touch:

    1 - Simply post your question below and the team will reply. If your question is about bankruptcy, then pop over to the Bankruptcy board.

    2 - If you would prefer to ask a question in private, feel free to send a message to StepChange Private Messages.

    3 - StepChange Debt Remedy is a free and confidential online debt advice tool. You can put a budget together at your pace, and you can also talk it over with an adviser through online chat.

    If you're a StepChange Debt Charity client already, please contact its Aftercare team rather than posting in this thread (their contact details are in your Welcome Pack).

    If you're self employed and need debt help please get in touch with Business Debtline.

    This is discussion thread part four, see parts one, two and three.

    If you haven't already, join the forum to reply!
    This Forum tip was included in's weekly email!
    Last edited by MSE Luke; 24-07-2018 at 2:41 PM.
    Could you do with a Money Makeover?

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Page 56
    • OMS7892
    • By OMS7892 19th Feb 19, 10:41 PM
    • 1 Posts
    • 0 Thanks

    I took out a professional studies loan and could not afford the repayments at almost £300 a month. Stupidly I buried my head in the sand for 4 months before I tried to make contact to lower my repayments and get back on track. I spoke with an advisor on the phone, set up a plan but lost the account details. I called and emailed over the next few months to ask for account details to begin making payments. On the phone they could never find my account and I received no response to my emails/

    After much chasing, I finally found out they sold all professional studies loans to Arrow Global. I contacted them to ask to set up a payment plan and they said it was fine but they have to make me aware that they 'may' issue a default notice. I had to keep pressing them and it turns out they issued one last week but I have yet to be provided with a copy. I gave them my new address and when I spoke with my original loan provider, I asked for all correspondence to be via email, to which he agreed.

    I've been emailing Arrow Global every day since I was told a Default Notice has been issued but have not yet received a copy. I don't think I should be issued with the default because i've been trying to pay but noone could tell me where my loan was or how to pay it. Therefore it's now almost £4000 in arrears which I can't afford to pay in one go. I am arguing that I wouldn't be so far into arrears in terms of the sum or the time if they had adequately corresponded with me.

    Am I correct? I will be looking to secure a mortgage in the next two years so I really need to avoid this if possible.

    It's keeping me up at night worrying. Thanks in advance.
    • heavenlyharry01
    • By heavenlyharry01 19th Feb 19, 11:55 PM
    • 114 Posts
    • 133 Thanks
    NRAM Together Loan
    I wondered if I could call by for some advice.

    The short story is my husband and I were trying to remortgage but with all our defaults and terrible credit, itís a no go.

    We have a Northern Rock together mortgage and are in a self managed Debt Management Plan.

    My question relates to the unsuccured loan side the NRAM together mortgage. I have an arrangement to pay with NRAM, with the interest frozen and no fees being added, and they are marking the account as arrears. Iíve written a number of times asking if they will default and they have said itís not their policy, and clearly because lm making payments towards the debt, although less than the contractual payments.

    Iíve managed to get all the other credit accounts we have defaulted by not making any payments or very minimal payments and are now making small payments towards them. We had 11 creditors when I started our DMP and we are down to 5 having made partial settlements on the others.

    I really would like this NRAM account defaulted as this would help us to remortgage in the future as this is what is holding us back.

    Iíve been scared to stop paying it due to the large balance (over £25,000) and itís links to the mortgage. (Although weíve never missed a mortgage payment)
    Should I stop paying, write again and ask for a default to be applied (again) or start the contractual payments in an attempt to improve our credit.
    Many thanks in this somewhat unusual question.
    • DoomDebt
    • By DoomDebt 20th Feb 19, 10:39 AM
    • 1 Posts
    • 0 Thanks
    Multiple loans, huge debt, help!
    I really need some help. I live with my partner in a house we bought together 11 years ago. I manage all the household finances as well as my own bank account, and it's all in rude health. However, last night I found out my partner has been taking out tons of loans from banks and what I presume are pay-day lenders. She had no reason to do so, but she has and now we have outstanding loans totalling around £20k. I'm in absolute shock, and after several hours research I still haven't got a full handle on the problem. The loans are from the following companies (about half still active, and half completed):
    • Peachy (x2)
    • Santander
    • My Jar (x2)
    • Uncle Buck (x2)
    • Hitachi
    • Ratesetter
    • Wonga
    • Savvy
    • Sunny
    • Wage Day Advance

    My initial thoughts were to kill the high-APR pay-day loans first obviously. The Santander loan has an outstanding balance of £16k so I can't pay off that.

    My second thoughts were to claim. Claim misselling of every loan, and claim PPI on every loan. Is this realistic? I haven't got enough information to hand yet to make informed decisions, but I know that some of these must have been unaffordable or barely-affordable at the time they were issued. Do I need to submit a PPI for each individual loan, and a misselling claim separately on each individual loan? Or should I not do this?

    I haven't looked at her current account balance or fees on that yet

    Any advice would be gratefully received!

    • SK55607
    • By SK55607 20th Feb 19, 12:35 PM
    • 5 Posts
    • 1 Thanks
    Personal guarantee in Spain
    I have posted this in the main forum but saw this thread and have posted here as well. In the U.K. a personal guarantee expires 5 years from becoming enforceable. Do you know what the time limit is in Spain if there is one ? (In this case it was personal guarantees to Spanish banks to obtain loans for a business in Spain.)

    Many thanks
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