use CCCs or payplan they are FREE!!!!!!

dx

This evening had a chat with CCCS. I was shocked.

Their advice - go bankrupt or default on bills and generate more cash for a DMP.

Enough cash to clear all debts in 10 years or less.

I can see why everyone on this forum says it's better to do it all oneself.

At least you can negotiate.

I think I should write to ask creditors to write off some of the debts and then go DMP.

Just wondered how do creditors esp.

debt collection agents respond to such requests.

Any thoughts??

Their responses are of course 'commercially ' based is it worth getting a few pounds usually no if the debt is large and the DMP will be very extended.

Smaller debt maybe if they can see it's financially viable probably yes to the DMP.

Debts rarely get written off, if with DCA the likely course is to sell the debt on for a few quid and leave another mob to go through the process again.

Creditors unless the circumstances show there are indications that the likelihood of collection is extremely slim, very likely to sell on to clear their books.

Thanks Brigadier2JCS.

You pre-empted my next question.

I was thinking of writing to my creditors to ask if they could reduce the amount or at least remove charges.

So, there is no mileage in that then.

It's just that I saw a template somewhere and thought I shall give it a go.

Looks like I will have to contact them and make private arrangements.

I have on my books

credit cards,

current account with OD and

a couple of debt collection agencies.

I suppose the last one is a no for definite.

Are the other two bit more considerate!!

And if so, which function does one write to!

list you debts

who you pay

when it was taken out

what the debt is

who was the original creditor.

I would contact cap (christians against poverty) they are by far the best debt management company in the uk they have a very long waiting list so i would contact all your creditors with the cag template letters in the mean time and hold them off for now while you sort out a payment plan being put in place for you

CAP IS A FREE CHARGING CHARITY

One caveat to this. Afaik CAP, like other free DMCs and CAB, do not usually advise clients to whom it may be the best option to stop paying completely. This way you can at least arrive at a clear credit file within 6 years of default notice or last acknowledgment of debt. Dragging on £1/month relentlessly, as CAP and others often propose, is both soul destroying and ultimately pointless. Besides, when the O C sells the debt on, the assignee is likely to apply pressure big time and one is back to where one started from.

Moreover, unless I'm mistaken, CAP also require you to undertake budget management training which, frankly, I find demeaning and insulting. Being plunged into debt doesn't always mean one is mentally incapable of handling one's money. It is more typically the result of overwhelming and unexpected change of circumstance.

However, if it works for you, Shani, I'm very pleased for you; however, I did think the reservations I've expressed worth drawing to the attention of others.

Would you care, for those who have taken an interest in your scenario, to summarise what CAP have arranged for you?

Thanks.

I won't use any fee paying DMC for the main reason that I do not have money

but also becuase I burnt my hands with Mortgage/finance brokers. 6 months wasted cost me £67000. .

Just food for thought, have you ever thought about claiming on any mis-sold ppi in your name?

the money could definitely help towards paying off those debts!

Is there some URL that I can go to and check details of my CCJ such as details like amount date and payment arrangements.

Thanks in advance

oops

Is there some URL that I can go to and check details of my CCJ such as details like amount date and payment arrangements.

 

Thanks in advance

Have you been making payments on the Judgment debt ? If so, then the solicitor or company who you are paying should be able to provide this information.

Alternatively, you might try checking your credit files.

trustonline will be able to let you know the date the CCJ was awarded against you. http://www.trustonline.org.uk/ However it will cost you £4.00 to check.

It wont be have payment information though.

Have you not kept a record of payments made - can you check with your bank if you have been making payments by transfer/direct debit or standing order ?

The CCJ I had was reported in my Noddle account. It had the judgement date, amount, court name.

There was also an entry for the bank account the CCJ was related to. This had the balance history so I could see the payments I had made.

HTH,

Sue

I am seriously thinking of throwing in the towel. Just can't take the stress any more. I clicked on this link in this forum just out of curiosity. Anyway, the company in question is GW Financial Solutions. I believe they are based in Manchester. They suggested IVA and some Govt backed or funded schemes - can't remember exact words.

 

I was wondering is anyone has had any experience (good or bad) with them. Or if anyone knows of any better and successful ones.

 

I appreciate your help. Thanks in advance.

Yes I have actually and to say it has been a disappointing experience would be a mammoth understatement.

Having dared to question the manner they have gone about an annual review and pointing out that they have been in breach of our agreed terms and conditions they've just told me that I should go elsewhere. Which as far as I'm concerned is about the best advice they have given me.

god dump them do it yourself

start a new thread

and we'll help

bet 90% of your debts aren't owed anyway!!

dx

thread now closed to stop newbie bumping..

In 2006 I lost my job and ended up defaulting on around 6K credit card. Keeping a roof over my head and feeding myself took priority.

I offered to pay £10 per month and have been paying since.

First Covid and now interest rate rise and I am in trouble again.

My question is

what can happen now if I ask HSBC to accept less and what if they hand the case to a debt collection agency?

Can they take court action?

Last thing I want is a CCJ as that would be disaster at 60 for me.

My partner has around £1800 in what she calls her 'funeral fund' that she could let me have if it would help right-off the rest of the debt.

I am panicking and she is having sleepless nights.

They could hand the debt to a DCA irrespective whether you continue to pay £10 or less or nil...for a DCA to instigate litigation the debt would have to be assigned to them so until you are informed of this I wouldn't worry.

I would assume from your post that you have been paying £10 to HSBC since 2006 (17 years) and therefore keeping the debt alive?

Andy

Have you been receiving a statement of account every year telling you what you have paid and what the balance is that remains?

So £10 a month for 17 years would be about £2040??

How on earth have they not flogged this off to a DCA is incredible!

This is a non priority debt, so you can knock em down to £1 a month if you wished. The outcome of doing so might push them to flog it on to a powerless DCA who can do absolutely nothing except beg you for money...

When did you take the card out?

Have you requested the CCA at all?

merged with your existing thread about all your debts

its about time you simply stopped paying everyone, unless the payment is against a judgement CCJ.

should of done that 10yrs ago

dx

Thanks Andyorch for your response. I didn't think I had choice and thought I had to pay something. 

As most people do.....they would do you a favor if they did assign it then you could request a further copy of the agreement and stop payments as they may struggle to get the relevant paperwork from 2006.

Continuing to make payments simply keeps the debt alive...if you had stopped payment in 2006 it would have been statute barred by 2012.

Thanks Bazooka Boo and dx100uk.

Yes they have been sending me statements.

If I stopped paying them wouldn't they start harassing and threatening me?

just type no need to hit quote

so what nothing they can do.

they'll sell it i bet unless its already been sold?

are you still blindly paying allthese debts in this old thread via CCCS?

I haven’t asked for CCA. Short answer is yes, I have been blindly paying them. I had one CCJ in 2009. I didn’t like going to court, so I caved in. Life!

just type in the blank msg box

no need to hit quote!!

and that CCJ is now paid off?

are you still paying all your debts blindly through CCCS or whomever DMP provider?

dx

On ccj making monthly payment as required… did everything myself. Two have been settled? Rest wanted all.