Not aguing, DX... just trying to help AlleyKat hold onto her much loved and very necessary van. She hasn't defaulted on her debts and is only considering bankruptcy so is nowhere near to having stuff grabbed by bailiffs and can legally transfer ownership to her daughter, who in fact paid for the van with her benefits.

My brother is disabled and they recently revoked his driving licence. He is still the owner of his car but my sister is now the registered keeper as she uses it to drive him about. It's not a 'loophole', it's recognised in law. TB

Ok, Renegade - thank you.

I agree - I thought paying until I can't, or rather just before, was the way forward. I'll start keeping tabs on our expenditure. With regards cutting back, apart from the debt direct debits, I only have phone and broadband, council tax, water (watersure tariff for disabled customers), gas/electric (recently switched supplier after paying through the nose with British Gas for 20 years), 3 sim card plans for myself & kids at £5.50 per month, and a life insurance policy (£11p/m). I tend to pay car insurance annually to save money. We don't watch live TV, so no license or TV bill to pay for, but we do have netflix.

 

I don't receive any tax credits at all, my income is purely made up of carers allowance, child benefit and income support. I'll sit tight for a few months and go from there.

 

Really? It doesn't feel like that I'l try and stop worrying so much, but it's hard to let go and relax.

 

Thanks again, really appreciate the input.

You certainly need to speak to someone that deals with all types of benefits and household income issues. With your council tax, when your income from benefits changes you will need to update the council and they will apply any reduction you may be entitled to.

When was the last time there was any assessment of what you are entitled to receive and is there any help available from your local council ? Some councils have staff that are trained to assist people, so they can have access to what they need.

Not aguing, DX... just trying to help AlleyKat hold onto her much loved and very necessary van. She hasn't defaulted on her debts and is only considering bankruptcy so is nowhere near to having stuff grabbed by bailiffs and can legally transfer ownership to her daughter, who in fact paid for the van with her benefits.

 

My brother is disabled and they recently revoked his driving licence. He is still the owner of his car but my sister is now the registered keeper as she uses it to drive him about. It's not a 'loophole', it's recognised in law. TB

it would be an extremely remote instance whereby a vehicle can be seize for consumer debt

transferring it to someone else does not protect it

but as there is NO FINANCE on the said vehicle

and

NO Logbook loans

then No-One can touch it regarding consumer/civil debt

even if one DOES get into court.

please stop panicking the OP.

even though your intentions a re good.

it WONT/CANT happen

dx

Ok... thanks. I'm no expert re debt/baliffs... just that the OP appears to be extremely worried about losing the van. TB

Thanks to you DX and you ThedaBara -

I have been reading forums for a while, and I interpreted it differently DX, if you're right, that's a weight of my mind.

As the debt is quite high, if I went down the DMP route, only paying say £20pm, I'd be paying it all off until after I died!

That's why I thought DRO or bankruptcy would be my best option

- on the StepChange website it says I can't keep a vehicle over £1000 and it will be seized and sold

- it also said that OR would contact DVLA to see what vehicles I had in my name, hence the panic.

There was a post from a woman who went bankrupt for half of what I owe, and they took her old banger, even though they valued it at just £400. She argued that she needed it due to having small children, so they offered to sell it back to her for £350:!:

is there another option that I don't know about,

or would you suggest the DMP regardless of length of repayment and a forever trashed credit report?

To be honest, I could probably live without credit and yes, we'd keep the van, but the thought of paying every spare penny I have ad infinitum - that's depressing.

You certainly need to speak to someone that deals with all types of benefits and household income issues. With your council tax, when your income from benefits changes you will need to update the council and they will apply any reduction you may be entitled to.

 

When was the last time there was any assessment of what you are entitled to receive and is there any help available from your local council ? Some councils have staff that are trained to assist people, so they can have access to what they need.

It's been a while, but I used one of those income calculators only a few months ago and it all looked right.

The local council do have a welfare assistance department, so I can get help from there when it's about time to start applying.

Thanks again, CAGgers

You don't want go through Bankruptcy anyway, as i am not sure it is the right option here. There is no need to hurry into any option, as if you had to default on repaying these debts, it could be years before any action was taken e.g court claims.

If it gets to the stage where you just don't have the money to pay any amounts due, then you must contact the creditors to advise of your circumstances. There is a process they have to go through to assess hardship issues and they might stop interest, as well as accepting reduced payments. If you need to go down the debt relief route, then speak to Stepchange and find the best option.

def no need for BK.

fire off that letter to all of them.

no need for recorded post

free 2nd class proof of posting will do

let start gathering info too.

have you all the statements for each of these cards?

we don't know whats might be reclaimable etc etc.

then comeback to things later

eitherway your credit file will be shafted for 6yrs.

dx

You don't want go through Bankruptcy anyway, as i am not sure it is the right option here. There is no need to hurry into any option, as if you had to default on repaying these debts, it could be years before any action was taken e.g court claims.

 

If it gets to the stage where you just don't have the money to pay any amounts due, then you must contact the creditors to advise of your circumstances. There is a process they have to go through to assess hardship issues and they might stop interest, as well as accepting reduced payments. If you need to go down the debt relief route, then speak to Stepchange and find the best option.

OK UncleB. Thanks

 

let start gathering info too.

 

have you all the statements for each of these cards?

we don't know what might be reclaimable etc etc.

 

then comeback to things later

 

eitherway your credit file will be shafted for 6yrs.

 

dx

sorry for my absence, family stuff happened!

DX, what do you mean by reclaimable? I have online statements, all of them.

Hope you all had a great christmas.

PPI

penalty charges

insurances

PPI

penalty charges

insurances

OK, thanks. Well I didn't take any of that out, so it won't apply to me.

I bet you did

so you've sent a CCA request to whomever she pays each one too in post 8

and sent an sar to each original creditor to get all the statements and check.

I don't believe for one minute that none of those you've list have not charge penalties esp if shes had payment issues

Hi DX.

I really didn't take any of that out - I always refused when offered.

As yet, I haven't had any payment issues, none late, missed or unpaid. I'm still paying them off as normal and right now my credit report is tickety boo. I am struggling, but I'm still paying.

**this is my debt, not my daughters. She doesn't have any credit at all.

yea sri got that bit wrong. daughter... just fast reading....

time to start sending those letters we recommended then.

see who is willing to help you

as they should under FCA rules.

OK, I think it's time too.

I have some BNPL that have ended and that's another £150pm on top of what I'm paying now.

What are the options that you're thinking of for long term handling of this debt?

I know with DRO my debt is gone after a year,

with a 6 year CR trashing,

but obviously that puts our campervan at risk.

I don't know of any other debt help options that doesn't require selling of assets

- at least ones that won't have me paying whatever small amount I'll have left over every month, forever

- and wouldn't that mean an eternity with a bad credit report too?

I thought that at least with a DRO, I wouldn't have to worry about bailiffs etc.

15k will take me the rest of my life to pay off, at the rate of £40pm.

And that £40 will be the only spare cash I have.

That's a depressing thought.

listen put out of your head bailiffs coming and taking your van or ANY bailiffs coming.

a dro does not put it at risk either

bailiff don't ever get involved until you've been taken to court

lost [no you'd agree to a very low sum]

they get a CCJ [if you don't keep up your very low payments]

and then get a court bailiff involved

[and they are your friend, you'll simply do a variation order]

all very rare.

get those offer letters off

it could well be that the debts might well be written off at a later date

but once you default then 6yrs they go off the file.

if it doesn't work out in a few years

then consider the dro

but £15k or even £20k is not a sum we'd recommend doing one for.

That sounds great, DX and I might even sleep a bit better tonight! I'll start the ball rolling tomorrow and check back in.

Thanks.