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Debt collectors want to take out a restriction on my property, help!
deeteedubya
Posts: 7 Forumite
The people who are helping me deal with my debt say that if I don't it voluntarily then the other debt collectors will find out and they will do the same.
Am I right in thinking that I could be repossessed and made homeless if they all gang up on me?
I have been to the CAB and they couldn't help, as it was a legal matter.
They (the debt collectors) also say that if I don't do it voluntarily, they will add vast amounts of interest and charges. But according to the CAB info if it is under £5000 and goes to the county court then statutory interest can't be applied.
This all sounds a bit underhanded, as they have only given me 14 days to find out about this and decide (from 28th feb).
I can't afford a solicitor as I am unemployed.
Has anybody got any advice on what to do?
If I sound confused, that is because I am.
Am I right in thinking that I could be repossessed and made homeless if they all gang up on me?
I have been to the CAB and they couldn't help, as it was a legal matter.
They (the debt collectors) also say that if I don't do it voluntarily, they will add vast amounts of interest and charges. But according to the CAB info if it is under £5000 and goes to the county court then statutory interest can't be applied.
This all sounds a bit underhanded, as they have only given me 14 days to find out about this and decide (from 28th feb).
I can't afford a solicitor as I am unemployed.
Has anybody got any advice on what to do?
If I sound confused, that is because I am.
0
Comments
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Who are 'The people helping you with your debt?'
...Linda xxIt's easy to give in to that negative voice that chants "cant do it" BUT we lift each other up.
We dont count all the runners ahead of us & feel intimidated.
Instead we look back proudly at our journey, our personal struggle & determination & remember that there are those that never even attempt to reach the starting line.0 -
try these people you will probably have an advisor nearby
http://www.clsdirect.org.uk/0 -
bank_of_slate wrote: »Who are 'The people helping you with your debt?'
...Linda xx
Debtscape, http://www.debtscape.org.uk
I will checkout clsdirect. Thanks.0 -
Are you on a DMP or in an IVA?
I had a look at the national debtline site and found this template letter. Not sure what the legal requirements are, but it sounds as though turning an unsecured loan into a secured loan is a bad idea.
http://www.nationaldebtline.co.uk/england_wales/temp/6064_20191.pdfAfter 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 -
Hi,
Could you give a bit more information about your situation and I am sure some of the people on here who are very knowledgeable would be able to help.
Tara x0 -
deeteedubya wrote: »
I can't afford a solicitor as I am unemployed.
I don't know much about it but I thought that you may be entitled to legal aid if you are unemployed?
http://www.adviceguide.org.uk/index/your_rights/legal_system/help_with_legal_costs.htm#legal_aid0 -
Hi
had a look at the debtscape webiste. They are very local and may not have the depth of experience that you would get by contacting one of the bigger debt charities.
Can you give National Debt line, or CCC a ring, see http://www.moneysavingexpert.com/loans/debt-help-plan#help. Even if they cannot help you, they will know who can.If you've have not made a mistake, you've made nothing0 -
I wrote to them last week and offered them £5 a month until I can get a job.
I also told them what CLSDirect had told me about them not being able to
take a charge on my property without getting a county court judgement first.
The judge will then tell me to pay so much per month, If I default on that, then they
can place a charging order and force me to sell my house.
They haven't replied yet, but they have paid in the first cheque I sent with the letter.0 -
Hi dtb - I have just seen your thread, and would strongly advise that you resist any attempt, by any debt collection agency to try to 'convert' unsecured debt into 'secured' debt.
Do not agree to, or do, anything, until you have spoken with one of the main Debt Counselling Charities, such as:
CAB: http://www.citizensadvice.org.uk
CCCS: http://www.cccs.co.uk Tel: 0800 138 1111
National Debtline: http://www.nationaldebtline.co.uk Tel: 0808 808 4000
Their advice is Professional, Impartial, Confidential and Free.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 -
Anyone who claims to be "helping" you and then threatens you if you do not do as they say is to be avoided. Get proper advice, as suggested above.0
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