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pete123

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About pete123

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  1. Hi Ive posted before so will spare the back story and ive tried to read through the previous posts to get some kind of answers but I would really appreciate anyones input. My current situation is I have 3 credit cards that when unemployed I could not repay. All 3 reached 6 months arrears before I found a job and managed to agree AP with 2 of them. The third made it extremely difficult for me before finally defaulting me. I have sent a CCA request to the defaulted card and Moorcroft have written to me to say they are holding off on recollection attempts until the paper work is found. The added sad situation i now find myself in as that I am currently getting divorced. The house is fully paid with no mortgage and my wife wishes to remain here with our children and not release any equity. Therefore I am trying to decide what is the best course of action now bearing in mind I am facing a long difficult period while I attempt to pay for my own accommodation and rebuild my life and finances. The sums involved are quite large. card 1 is 10k and im paying 150 a month card 2 is 8.5k and im paying 175 a month card 3 is 17k and is defaulted although i am expecting to have to make a large payment at some point in future. I have a fourth card with a balance of 2k that somehow i have managed to keep up to date. So my question is should i just default on the other 2 cards seeing as i have one default already? maybe even CCA them and buy some time and then attempt to make lower full and final settlements in the future? I am concerned that the AP stays on file for 6 years after the final payment so should I just take the hit for the next 6 years? I am concerned that I wont even be able to rent anywhere due to the credit checks. The only bright spot is that my earning potential has picked up again. I just want to make best use of the limited resources I will have. Thank you for any advice
  2. hi all not sure if this will get picked up again on this old post but I just wanted to get some follow up advice if anybody has any regarding the situation I am in now. Since my last rambling posts some months back I have now managed to get myself back together and have found a new job, one that is reasonably paid and enjoyable, so the future now looks a lot brighter. My question is now how to best deal with my debts and repair my destroyed credit rating. I have been on arrangements with 3 credit cards for the past 4 or 5 months making nominal payments, these have all been registered with the credit agencies as late or missed payments so the picture looks pretty bad. I would imagine the cards are very close to defaulting me. I want to contact them and explain my change in circumstances but if everyone demands i catch up with overdue amounts and excess of limits we are looking at 5 or 6000 pounds which obviously I dont have. Similarly if they resume interest and expect full monthly payments we wont have enough left to live on. If I increase the payments and they are still holding off interest so Im not meeting my agreement then it will be as bad as defaulting on my file.. Therefore would I be better off just not paying and taking the defaults and spend the next 6 years rebuilding my life and negotiating with debt collection companies? ( as morally questionable as that may be ). I want to do the right thing but I just think that each company is going to want their share and its going to put us back to square one. any advice appreciated, thanks
  3. Hi guys. Can I ask what address you use to contact Lloyds credit cards? I have sent a number of letter regarding my account arrears and have not received any replies.
  4. thanks for that, its taken a while but Im trying to pull myself together and get this sorted. Ive opened a new bank account and ive written to the 3 creditors and told them I am experiencing financial difficulties and to hold interest etc while I attempt to resolve this. Its been over 10 days since I sent those letters and I have heard nothing back. I had payments due to all 3 so Ive taken the 240 a month we was paying to the one card and split it pro rata amongst the 3 and paid them that without waiting for any kind of reply. I will now write to them explaining that going forward that is the amount I can afford to pay. However should they ask for proof in fact we do not have any spare funds for even this amount, my wife brings in about 1500 a month and that is pretty much all taken up on household expenses. My wife recently recieved about 1400 from a PPI claim and she has been drip feeding this in to the account each month as we need it. Should I carry on making this payment even if I dont hear from anyone? also a question regarding CCA requests is this something I should be looking at or would that just antagonise the situation? many thanks for help
  5. Hi, I have made some terrible mistakes and although I probably dont deserve help I really need advice on how I can protect my family. Quick background, I was made redundant last year and believed I could make a living investing in the financial markets. Even though this was also my occupation this was a ridiculous concept and ended disastrously with me rackign up about 40k of debt in loans and credit cards. My wife stood by me and we agreed to downsize our nice home to something smaller and mortgage free. We was left with about 9k of credit card debt. I have still not found work and crazily made the same mistake depsite promising my wife i would close the cards down. I therefore now have an additional 30k in unsecured credit card debt that my wife is unaware of. Trust me I hate myself and I am seeking help for gamblign addiction and depression but my only concern is my wife and children, I really dont care what happens to me. We are in the process of transferring the house in to my wifes name at her suggestion from the last episode and also our only other asset the car. My question is what should I do with the 2 lenders I now owe the 30k to, one is my bank and includes 3k of overdraft. Will the house and car be safe for my wife? If she and I separate when this comes out will her credit record be safe? is their anythign I can do to protect her credit? we have one joint account but obviosuly have had mortgages together in the past. I just want to know I havent screwed her life up as well as mine. We currently pay about 220 a month on the one card, would it be feasible to do a DMP with that amount for the whole outstanding 40k? my wife earns about 1500 a month at the moment. If I find work quickly and can start making full payments again will my credit record be irreversibly damaged? sorry for so many questions, I appreciate any help
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