Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 18th Nov 16, 1:05 PM
    • 9,003Posts
    • 21,788Thanks
    MSE Andrea
    Struggling with debt? Ask a debt advisor a question
    • #1
    • 18th Nov 16, 1:05 PM
    Struggling with debt? Ask a debt advisor a question 18th Nov 16 at 1:05 PM
    If you need help with your debts, this is the thread for you.

    Trained advisors from StepChange Debt Charity (formerly CCCS) are here and waiting to answer your debt questions. They!!!8217;re a friendly bunch so please don!!!8217;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 !!!8211; 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 advisor 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.

    Finally, follow @MSE_Forum on twitter for debate and discussion on all things MoneySaving and more.

    If you haven!!!8217;t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Andrea; 07-12-2017 at 2:44 PM.
    Could you do with a Money Makeover?


    Follow MSE on other Social Media:
    MSE Facebook, MSE Twitter, MSE Deals Facebook, MSE Deals Twitter, Forum Twitter, Instagram, Pinterest
    Join the MSE Forum
    Get the Free MoneySavingExpert Money Tips E-mail
    Report inappropriate posts: click the report button
    Point out a rate/product change
    Flag a news story: news@moneysavingexpert.com
Page 34
    • Tawny Owl
    • By Tawny Owl 27th Feb 18, 6:59 PM
    • 18 Posts
    • 0 Thanks
    Tawny Owl
    Any options advice?
    Hi there..have been reading all the threads and replys and wondering if there are any other ways forward to address depts than D.M.P. or I.V A. We have about £50 thousand in dept with 3 MBNA cards " Barclays and 1 M&S.
    We are typicial of the property in France owner that needed renovating for a purpose, took on an English builder who half finished the work and walked of with a great deal of our pensions and money on cards which we hoped would be repaided once finished. Then due to us finding out the quality of the work done was not secure we had to go into more dept to secure the roof etc!
    The bottom line is in September the interest only morgage we have on our property in England is due.
    Yes we have put our property on the French market ..But with things being unstable in Europe our property is only worth half what it was a shortfall if it sells of about £30 thousand.
    So while we are now struggling, to meet payments and are going further into dept and after speaking with C.A.B who suggested I think a D.M.P. we would not be able to get even a small morgage if our credit file is effected..that is beliving our property will sell.
    We are both pensioners at 66 and while some supply work has helped us along it is not at present due to injury.
    Is there do you think any other way forward? BIG thanks
    • willyloman
    • By willyloman 27th Feb 18, 8:36 PM
    • 3 Posts
    • 0 Thanks
    willyloman
    Need good advice
    Hi there - I'm looking for some advice on what to do next. I've done the really scary thing amd faced up to my debts and I'm keen to tackle them - most of all I want to get back to a position where I'm not getting texts from the bank a few days after payday and feeling depressed for the remainder of the month.
    I am a home owner with my wife and have
    • a mortgage and about 12 years left on that - never miss a payment.
    • a car loan with about 3 years left at £230pm.
    • half a dozen credit cards with £40k of debt. Many of the cards are now comingor have come to the end of their promotional rate. Unfortunately for various reasons some payments have been late, but paid. No proving difficult/impossible to get new promotional cards to transfer to.
    My annual salary is £55k and my wife's around £20k.


    We have an endowment due next year which should pay off probably about £30k of debt.


    I've done some great MSE homework and managed to reduce my car insurance, home insurance, energy and broadband costs to a fraction of what we were paying. However, I still need to reducve the amount ougoing to service cc debt whci is getting near £1k pm.


    I was thinking of getting a loan for £30k with a repayment of about £400pm until the endowment came through and then pay that off. I'm not confident I'll get an unsecured loan, so was considering a secured one - as I know I'd be ableot keep up repayments and it should only be for a year. Don't want to go down the debt settlement routes for a variety of reasons.


    Is this my best choice? - thought of remortagaging but currently on base rate so remortage would hike interest rate for total payment.


    Really need some good advice please...
    • Hope132
    • By Hope132 27th Feb 18, 8:43 PM
    • 1 Posts
    • 0 Thanks
    Hope132
    Debt written off!
    Hi, I am currently in a DMP & have been for the last 6 years, never missed a payment, no CCJ,s, etc. I still have another 9 years to go before i am debt free! I have been approached by a Finance Barrister who claims most of my debt can be wiped off due to the consumer credit act. As my debts have now been passed over to third party debt agencies. Is this too good to be true?
    • John Doe 122
    • By John Doe 122 27th Feb 18, 9:46 PM
    • 1 Posts
    • 0 Thanks
    John Doe 122
    how to handle my debt
    Hi,

    Iím new to this forum. Iím 18 and around 6 months ago I had what I believed to be a sturdy job. Because of this I got a contract phone and credit card. Then the company got closed down and my boss got arrested (long story haha), anyway I was left unemployed and with a phone bill etc. Iím currently doing a course which means I will be in employment within a month or two. I will be a qualified rail worker earning around £15 an hour so I want to start paying my debt off as soon as possible, and once I start paying my debt off will my credit score improve gradually or when Iíve paid my debt fully?

    I want to start saving for a mortgage and I know I will need a good credit score for this. At the moment it is Ďvery poorí. Iím giving myself till Iím 22 to secure a mortgage. I owe around £2,000-£2,500 in total which I know is easily manageable but I just want to know what I can do to get my debts in order as Iíve really lost track of who I owe money to, Iíve been getting letters from debt collection agencies so the question is how can I get this sorted and start saving for a mortgage.

    Any advice would be appreciated and any help will be great.

    Thanks -
    Liam
  • StepChange_Rachael
    Hi

    Thanks for posting.

    Iím sorry to hear that youíve had difficulties and are now struggling with debt. The only way to not impact your credit file is to keep up with the minimum payments with the creditors. If you miss payments or make reduced payments at some point the creditors will eventually default the debts and this is what will have the main impact initially on your credit file.

    There are many different types of debt solutions but it would be difficult to say what the best options would be for you without being able to discuss the full situation.

    Iíd suggest getting some further independent debt advice to discuss your options. As debts can be collected differently outside the UK then it can be a bit more complex. If youíre main place of interest is in the UK or youíre intending to move back within the next 12 months then we can certainly help you explore your options.

    You can find our contact details by following this link.

    Thanks
    Rachael


    Hi there..have been reading all the threads and replys and wondering if there are any other ways forward to address depts than D.M.P. or I.V A. We have about £50 thousand in dept with 3 MBNA cards " Barclays and 1 M&S.
    We are typicial of the property in France owner that needed renovating for a purpose, took on an English builder who half finished the work and walked of with a great deal of our pensions and money on cards which we hoped would be repaided once finished. Then due to us finding out the quality of the work done was not secure we had to go into more dept to secure the roof etc!
    The bottom line is in September the interest only morgage we have on our property in England is due.
    Yes we have put our property on the French market ..But with things being unstable in Europe our property is only worth half what it was a shortfall if it sells of about £30 thousand.
    So while we are now struggling, to meet payments and are going further into dept and after speaking with C.A.B who suggested I think a D.M.P. we would not be able to get even a small morgage if our credit file is effected..that is beliving our property will sell.
    We are both pensioners at 66 and while some supply work has helped us along it is not at present due to injury.
    Is there do you think any other way forward? BIG thanks
    Originally posted by Tawny Owl
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
  • StepChange_Rachael
    Hi

    Welcome to the forum and thanks for posting.

    It sounds as though youíve done a lot of research into ways to reduce your expenditure which is great and should really help you meet payments, especially with your household bills and general living costs as a priority.

    As a general rule as a debt advisor I wouldnít advise on further borrowing so wouldnít be able to offer the best advice on this option. This is because further borrowing often leads to further struggling and rarely solves the issue.

    Borrowing on your mortgage and securing the debt means that the creditor has much more rights of collection and if payments are missed they can try and force sale of the property through the court.

    Whichever route you decide to go forward with itís important that itís not putting you in a worse position financially.

    Youíve mentioned debt settlement not being an option; Iím not quite sure what exact solution youíve considered that you donít feel would be appropriate, as there are many different types of debt solution available to people struggling with their debt payments.

    Iíd suggest before taking further debt out, especially secured debt, to have a look into all your options if youíve not already and get some free and independent debt advice.

    However, ultimately itís up to you if you donít want to impact your credit file and feel that the payments would be affordable until the endowment comes through then this maybe a good option for you.

    All the best,
    Rachael



    Hi there - I'm looking for some advice on what to do next. I've done the really scary thing amd faced up to my debts and I'm keen to tackle them - most of all I want to get back to a position where I'm not getting texts from the bank a few days after payday and feeling depressed for the remainder of the month.
    I am a home owner with my wife and have
    • a mortgage and about 12 years left on that - never miss a payment.
    • a car loan with about 3 years left at £230pm.
    • half a dozen credit cards with £40k of debt. Many of the cards are now comingor have come to the end of their promotional rate. Unfortunately for various reasons some payments have been late, but paid. No proving difficult/impossible to get new promotional cards to transfer to.
    My annual salary is £55k and my wife's around £20k.


    We have an endowment due next year which should pay off probably about £30k of debt.


    I've done some great MSE homework and managed to reduce my car insurance, home insurance, energy and broadband costs to a fraction of what we were paying. However, I still need to reducve the amount ougoing to service cc debt whci is getting near £1k pm.


    I was thinking of getting a loan for £30k with a repayment of about £400pm until the endowment came through and then pay that off. I'm not confident I'll get an unsecured loan, so was considering a secured one - as I know I'd be ableot keep up repayments and it should only be for a year. Don't want to go down the debt settlement routes for a variety of reasons.


    Is this my best choice? - thought of remortagaging but currently on base rate so remortage would hike interest rate for total payment.


    Really need some good advice please...
    Originally posted by willyloman
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
  • StepChange_Rachael
    Hi

    Thanks for posting and welcome to the forum.

    There's something called a statute barred debt, this is when a debt under the consumer credit act hasnít been acknowledged by the debtor within a 6 year period and therefore canít be sent to and collected through the court. However, making payments to the creditors in a DMP means that youíve been acknowledging the debt and the debt isnít classed as a stature barred debt.

    A debt being statute barred doesnít write off the debt it just means the creditor canít take the debt to court and set a County Court Judgement (CCJ) against it.

    Debts can legally be passed on for third partyís to collect.

    They are maybe suggesting that the collections agency doesnít have the original paperwork so canít legally take the debt to court to set a CCJ against it.

    If this is the case you can ask for the original paperwork from the collection agency yourself. You wouldnít have to pay a third party to do this, which often companies will charge to do.

    If the collections agency canít provide this then they are unlikely to be able to take the debt to court. Meaning their collections route would be very limited to asking for payments. They wouldn't be able to use court action such as enforcement agents or set an attachements of earnings.

    On another note your DMP seems like itíll take a very long time to complete. There may be good reasons as to why youíve chosen this option but if youíre being charged fees or other debt solutions werenít discussed with at the time of setting up the DMP then Iíd suggest getting some further free debt advice. StepChange would be happy to do this and you can find the contact details here.

    I hope this helps.
    Rachael




    Hi, I am currently in a DMP & have been for the last 6 years, never missed a payment, no CCJ,s, etc. I still have another 9 years to go before i am debt free! I have been approached by a Finance Barrister who claims most of my debt can be wiped off due to the consumer credit act. As my debts have now been passed over to third party debt agencies. Is this too good to be true?
    Originally posted by Hope132
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
  • StepChange_Rachael
    Hi Liam

    Thanks for your post.

    It sounds like youíve got a good idea of you goals going forward.

    Credit files arenít straight forward, many things can impact your credit score. Iíd suggest taking a look at this MSE page for more information on improving your credit file.

    The main thing which is likely to be currently impacting your credit score are defaults, as you mentioned there are missed payments and creditors normally default the debts within a few months of missed payments.

    Defaults once added drop off automatically after 6 years and will no longer impact your credit file. Itís likely going forward theyíll start to have less impact especially as you start to pay back the debt.

    Once the debts have been paid back your credit file will show that the debts are fully paid and settled. It might be an idea to concentrate on paying the debt back first so that your credit file can start to improve while youíre saving. Also if the creditors are getting what is affordable at the end of the month after you've paid your houshold bills and general living costs they are less likely to try and take further action to try and get more towards the repayments.

    The best way to find out who you owe money to is by searching your credit file there are three in the UK, Call Credit (Noddle), Experian and Equifax (ClearScore). These will hold details of the debts you owe. Iíd suggest checking all three if youíre really unsure.

    You can then look to find an affordable way forward to start clearing the debts. If youíd like free and impartial debt advice on how to do this you can find this help from StepChange.

    Take care,
    Rachael




    Hi,

    Iím new to this forum. Iím 18 and around 6 months ago I had what I believed to be a sturdy job. Because of this I got a contract phone and credit card. Then the company got closed down and my boss got arrested (long story haha), anyway I was left unemployed and with a phone bill etc. Iím currently doing a course which means I will be in employment within a month or two. I will be a qualified rail worker earning around £15 an hour so I want to start paying my debt off as soon as possible, and once I start paying my debt off will my credit score improve gradually or when Iíve paid my debt fully?

    I want to start saving for a mortgage and I know I will need a good credit score for this. At the moment it is Ďvery poorí. Iím giving myself till Iím 22 to secure a mortgage. I owe around £2,000-£2,500 in total which I know is easily manageable but I just want to know what I can do to get my debts in order as Iíve really lost track of who I owe money to, Iíve been getting letters from debt collection agencies so the question is how can I get this sorted and start saving for a mortgage.

    Any advice would be appreciated and any help will be great.

    Thanks -
    Liam
    Originally posted by John Doe 122
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • wessexman
    • By wessexman 7th Mar 18, 12:28 PM
    • 1 Posts
    • 0 Thanks
    wessexman
    Hi,
    My sister has got herself into a bit of a problem with her debts and I am trying to help her. Looking through her direct debits we found a payment Barclays credit. On contacting them she was told that it was for some patio doors that cost £2100. She paid a deposit of £50 and she pays just under £48 per month. This was a 10 year loan at about 30% interest and she has been paying about 5 1/2 years. We asked for a settlement figure but there is no early repayment reduction and we were quoted over £1500 to clear the loan.
    My sister does not remember this loan being properly explained to her. She does not remember being told how much this loan would cost in total or the interest rate. Is there anywhere we can go to with a view to finishing this loan on the basis that she wasn't properly advised. She has already paid over £3000.
    Many Thanks in Advance
    • Sue67
    • By Sue67 7th Mar 18, 6:09 PM
    • 5 Posts
    • 1 Thanks
    Sue67
    Sue67
    Enquiring for a friend.

    They took a mortgage out some years ago with Northern Rock that was then transferred to NRAM. Unfortunately some payments were missed along the way and they ended up with a ccj. Payments on the ccj have been kept up to date for 4 years but at a cost of £2200 per month. The mortgage has now been transferred to Landmark who are not really a mortgage company. Because of the ccj a remortgage elsewhere at better rates and therefore a smaller monthly payment can't be obtained anywhere and they are really struggling to make this high monthly repayment. Is their only option selling their home or is there another way out of this nightmare? They have approx £200,000 in equity on the property with £100,000 still owing.
  • StepChange_Linsi
    Hi

    Thanks for your post and welcome to the forum.

    If you donít think your sister was given the right advice or has been treated unfairly the next step would be to raise a complaint with Barclays.

    Their complaints procedure is available on their website here. If they donít respond within 8 weeks are youíre unhappy with their reply you can escalate the complaint to the Financial Ombudsman.

    Should your sister still be liable for this debt, you can use our Debt Remedy tool to create a budget and get tailored debt advice online. Hereís the link.

    I hope this helps,

    Linsi


    Hi,
    My sister has got herself into a bit of a problem with her debts and I am trying to help her. Looking through her direct debits we found a payment Barclays credit. On contacting them she was told that it was for some patio doors that cost £2100. She paid a deposit of £50 and she pays just under £48 per month. This was a 10 year loan at about 30% interest and she has been paying about 5 1/2 years. We asked for a settlement figure but there is no early repayment reduction and we were quoted over £1500 to clear the loan.
    My sister does not remember this loan being properly explained to her. She does not remember being told how much this loan would cost in total or the interest rate. Is there anywhere we can go to with a view to finishing this loan on the basis that she wasn't properly advised. She has already paid over £3000.
    Many Thanks in Advance
    Originally posted by wessexman
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Alexf1987
    • By Alexf1987 8th Mar 18, 11:28 AM
    • 1 Posts
    • 0 Thanks
    Alexf1987
    Hi. I want to get a few credit cards to avoid the high overdraft fees I am paying. I have a good credit score, but my experian score has my old address on it. I bought a flat and moved in over a year ago, and changed my bank accounts to the new address when I moved. My credit report has no record of this, and now I'm getting denied every card/loan (presumably because my addresses don't match up?) How can I get this changed? Thank you!
  • StepChange_Kirsty
    Hi Sue,

    Thanks for your message.

    Iíve not come across mortgage companies obtaining a county court judgment (CCJ) for missed payments as they would usually look to apply for possession of the property if the mortgage is in arrears. Iím wondering if this was a together loan which included both a mortgage and unsecured loan? If the arrears were against the unsecured element this would explain why a CCJ was obtained.

    First of all your friend needs to confirm if the CCJ was against the mortgage or the unsecured loan. There is a way to have a CCJ varied but I would recommend your friend seeks debt advice in order to work out and affordable way forward.

    At StepChange we offer free, impartial and confidential debt advice and it would be best if your friend gives us a call so we can discuss this further. Our number is 0800 138 1111 and weíre open Monday to Friday 8am to 8pm, Saturdayís 8am to 4pm.

    If your friend is self-employed they will need to contact Business Debtline for the best help and advice. Even though this is not a business debt, Business Debtline offer the best help and advice for those whoíre self-employed. Their number is 0800 197 6026 and are available Monday to Friday 9am to 8pm.

    I hope this helps.

    Kirsty

    Enquiring for a friend.

    They took a mortgage out some years ago with Northern Rock that was then transferred to NRAM. Unfortunately some payments were missed along the way and they ended up with a ccj. Payments on the ccj have been kept up to date for 4 years but at a cost of £2200 per month. The mortgage has now been transferred to Landmark who are not really a mortgage company. Because of the ccj a remortgage elsewhere at better rates and therefore a smaller monthly payment can't be obtained anywhere and they are really struggling to make this high monthly repayment. Is their only option selling their home or is there another way out of this nightmare? They have approx £200,000 in equity on the property with £100,000 still owing.
    Originally posted by Sue67
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
  • StepChange_Kirsty
    Hi Alex,

    Thanks for your message and welcome to the forum.

    I canít explain why your address hasnít been updated on your credit file so I would suggest contacting the credit reference agencies for further advice. There are three main credit reference agencies: Experian, Equifax and Call Credit so it would be worth contacting each of them to make sure your address has been updated.

    One thing you need to check is if youíre registered to vote. When youíre on the electoral roll, your credit file will show the address which you are registered at. You can apply to be on the electoral roll here on the government website.

    As we donít specialise in advising people on taking further credit I cannot comment on whether you taking out credit cards to repay the overdraft would be a wise decision. Before applying though you would need to check if you can actually transfer funds from the credit card to your current account and many credit cards donít allow you to do this. If youíre looking to get a 0% interest credit card then do make sure that you have a plan in place to pay off the balance before the 0% comes to an end as there is no guarantee you would be able to get another card at that rate.

    If youíre struggling with repaying your overdraft then you might benefit from further debt advice. You could complete our online Debt Remedy tool which takes you through a process of putting a budget together and will give you advice at the end in the form of a personal action plan. You can find Debt Remedy here.

    I hope this helps.

    Kirsty


    Hi. I want to get a few credit cards to avoid the high overdraft fees I am paying. I have a good credit score, but my experian score has my old address on it. I bought a flat and moved in over a year ago, and changed my bank accounts to the new address when I moved. My credit report has no record of this, and now I'm getting denied every card/loan (presumably because my addresses don't match up?) How can I get this changed? Thank you!
    Originally posted by Alexf1987
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Sue67
    • By Sue67 8th Mar 18, 3:30 PM
    • 5 Posts
    • 1 Thanks
    Sue67
    Sue67
    Thank you Kirsty. I believe they were looking at possession approx 4 1/2 years ago and from what you have said it was probably a combined unsecured loan and mortgage. £200 of the current monthly payment is on the arrears the rest being for the mortgage. It's the monthly mortgage payment of £2000 that they need to reduce by approx half but no one will give them a remortgage while the ccj is in place. If there is still an amount outstanding after 6 years on the arrears which they continue to pay will the ccj drop off their credit file like other info or will it still show. At the age of 63 this is a huge deal for them, they have lived at their home since 1995. Originally they had an endowment mortgage which was changed to a repayment mortgage after their spouse passed away - hence the £2000 per month.
  • StepChange_Linsi
    Hi Sue

    Thanks for posting.

    A CCJ will remain on your friends credit file six years from the date the judgement was entered. The CCJ will still be removed even if there is an outstanding balance, but this doesnít affect the creditorís rights to continue collecting it.

    As well as using the services Kirsty mentioned in her post your friend may also want to look at the Money Advice Service website for more information on mortgages. Whilst having a CCJ can make it harder to remortgage there may still be lenders willing to help.

    All the best,

    Linsi

    Thank you Kirsty. I believe they were looking at possession approx 4 1/2 years ago and from what you have said it was probably a combined unsecured loan and mortgage. £200 of the current monthly payment is on the arrears the rest being for the mortgage. It's the monthly mortgage payment of £2000 that they need to reduce by approx half but no one will give them a remortgage while the ccj is in place. If there is still an amount outstanding after 6 years on the arrears which they continue to pay will the ccj drop off their credit file like other info or will it still show. At the age of 63 this is a huge deal for them, they have lived at their home since 1995. Originally they had an endowment mortgage which was changed to a repayment mortgage after their spouse passed away - hence the £2000 per month.
    Originally posted by Sue67
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Sue67
    • By Sue67 9th Mar 18, 9:33 AM
    • 5 Posts
    • 1 Thanks
    Sue67
    Sue67
    Thank you Linsi - will do - if we come up with anything will let you know
    • stessedtfout
    • By stessedtfout 10th Mar 18, 4:43 PM
    • 1 Posts
    • 0 Thanks
    stessedtfout
    Hi,

    I have a CCJ from Lowell, passed to Cohen Cramer and I have accepted it and I'm ready to pay.

    I just want to make sure I'm paying the correct people and I'm doing in the correct manner as I don't want the CCJ on my file and it will be within 30 days of the judgement.

    I have received a notice of a county court judgement from Cohen Cramer and a judgement for the claimant from the county court business centre.

    The letter from the county court says to pay the solicitors, the letter from Cohen Cramer says to pay a company called Lucas Credit services.

    I want to make sure I'm paying the correct people because the last thing I want to do is pay £860 to the wrong people and have this drag on.

    Can I not pay the court and have them pass it on? It seems like the safest option?
    • Darren66
    • By Darren66 10th Mar 18, 5:21 PM
    • 1 Posts
    • 0 Thanks
    Darren66
    Hi in 2004 I had a dept of £2327.91 I moved away from the area and forgot about it now I'm getting letters from a Mortimer Clarke solicitors saying that I've got to pay them I've been told by a friend that after a certain amount of years the dept would be wiped the company Mortimer tryed to contact me last year but I never replyed where do I stand with this thank you
    • jonjon123
    • By jonjon123 11th Mar 18, 4:52 PM
    • 44 Posts
    • 1 Thanks
    jonjon123
    Struggling with debts
    Hi, hoping someone can answer my questions and help me out and steer me in the right direction.......

    I earn approximately 24k a year and my total debt level is approximately 23k.

    After paying out living expenses, rent, bills, loans, credit cards and HP which are currently up to date I find myself left with next to nothing every month, so wandered what my options are please?

    I have spoken to someone in the past and they have advised DRO, but dont think i qualify for this because my debt level is too high, so would like some advice please.

    The main issue i have is my car on finance. It's halfway through the term and obviously want to trade it in, in a few months for a newer vehicle, but am worried if i go down some sort of ''help'' route my credit file will be severly damaged and won't be accepted for another car in the future?

    Things are up to date as i say, but it is making me struggle and swallowing me up every month, so what are my options please?

    Stay as i am and pay them, or go down some form of debt route and potentially damage my credit for the next 6 years?

    Any help greatly appreciated.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

145Posts Today

1,282Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin