Unsecured loan with a balance of 24k to Ratesetter

Hi all, Looking for a bit of advice on how best to deal with a letter I have received? The letter seems ambiguous and doesn't state if they have had the debt sold on to them or acting on behalf, nor does it include any reference the original debt/account numbers. I do owe this debt however have had a bad run of things lately and became unable to keep up with the contract, the original creditor wasn't interested in my situation (when are they ever?), this is the first time I have received a letter from a DCA in regards to the debt; *MY NAME AND ADDRESS* *DATE OF LETTER* *LETTER REFERENCE Dear XX XX *CREDITOR NAME* Debt: £*DEBT AMOUNT* Reason: Unpaid loan We refer to our client's outstanding debt and ask that you contact us within the next fourteen days to discuss this matter. If you are unable to pay this amount in full please contact us within this period of time as it may be possible to arrange a mutually acceptable repayment programme to clear the debt. Cheque or postal orders should be made payable to Scott and Mears and sent direct to this office. We are also able to acept card payment by telephone, full details of payment methods are shown overleaf. If you need any debt advice, listed overleaf are organisations that will help you free of charge. Yours sincerely *illegible scribble* Collections Department

I honestly wish I knew. For the most part the loan paid some things off while, I needed new windows put in, had massive problems with my car at the time, so paid off the existing finance and got shot of it, had some large vet bills as well and had relied on credit a few times to get me through the months. Silly, but what is done is done and I have unfortunately learned the hard way. I am committed now to getting myself out of the mess I'm in so will attempt the self managed side of it. Thank you for your replies.

Hi none are secured against my property. I don't recall the exact dates however; Ratesetter feb/March 2016 Tesco CC sometime around 2012 Hitachi deferred payment September/Oct 2015 Virgin CC summer 2016 Barclays summer 2016 V12 April 2016

Hi all, Just looking for some advice on what I should do going forward. For the record I am a resident in Scotland. I have accrued around 47k of unsecured debt among six creditors in the UK. 1 Ratesetter £23.8k P2P loan 2 Barclaycard CC £4.9K 3 Tesco Bank CC £5.9k 4 Virgin Money CC £6.2k 5 Hitachi deferred payment £4.5K 6 V12 Secure Trust Bank £1.8K I am now at a point that I am about to start missing payments and will end up defaulting. I have spoken to step change who have recommended a DPP under the Debt Arrangement Scheme as I have a flat with equity that I wish to protect. While this is the formal way of things I thought I could perhaps try the informal route first and doing a self managed DMP with it being more flexible and being able to pay off creditors with lump sums if I can get some overtime built up. I filled out my income/expenditure sheet and included this in a letter to each of my creditors explaining I can no longer service my debts and included a revised payment amount (pro rata of £585 surplus). The letters were sent 1st class recorded signed for. All direct debits have been cancelled today also. I assume it is now just a waiting game for their responses? I reckon they will more than likely reject especially Ratesetter - this is the debt I am most worried about as it's a high amount and essentially other peoples money. Am I doing the right thing here? Should I just be going straight for the DPP to save any court cases? Any help or advice on the matter is greatly appreciated.