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  1. Should a company reduce the balance showing on your credit file even if it is defaulted? I have one company that is reducing the balance after each payment but another which seems to be refusing to do so. It's been defaulted since Feb 2013 and hasn't gone to a DCA yet.
  2. Hello I have a debt with Lloyds TSB which has a balance of circa £23k. Believe it or not, this debt started its life as a £26k loan nearly 10yrs ago and LLoyds refused to freeze interest when I began a DMP with Payplan. Sorry, that's by the bye! I received a ketter today from Aktiv Kapital introducing themselves and with it was a copy of the "NOA" from Lloyds passing on the debt. It looksfor all the world like they've just cut and pasted text onto a rubbish photocopy of an old letterhead from Lloyds. As I haven't received any correspondence from Lloyds themselves am I being paranoid or do DCA's actually regularly try to produce dodgy NOA's? I just thought I'd see if anyone had come across this before Thankyou xxx
  3. When providing a DCA with an I/E form, what sort of stuff is considered reasonable or necessary? As I'm currently on JSA but live with parents so I'm not a main bill payer for the main stuff, but I do pay my parents weekly with what I can afford and I pay for a lot of stuff for myself, food etc and hardly seem to have much left over. The balance of the debt is £250 and I've proposed £1 or £2 a month until my circumstances change but my I/E form seems to suggest I have lots of money left over when it's not the case in reality. And how much of your disposable income do they expect you to pay creditors with? not all of it surely? how about emergencies etc? just don't want to paint the wrong picture to the DCA and them thinking I can afford more than £1 or £2 when i would struggle to do so when it came down to it. Cheers
  4. I have a Halifax One Credit card, the balance of which has been around £2400 for a year now, with me paying around £40 regularly, but not paying off any debt. I missed the payment by a week last time for the first time, but paid the amount, £38 a week late. now I have incurred a £12 late payment charge in addition to my monthly interest. This is the first such charge on my account. If people believe these charges are illegal, can I simply pay my next payment without the £12 charge and let the bank know I dispute the charge? Or should I pay it anyway and then argue about it? I have had this credit card since about 2010, and although I sent off CCA request today, I think it is likely the bank has all the documentation in order for a card that is relatively recent. If I stop servicing this old debt, how high can the bank take the balance? Eg the £2400 already includes mainly intereset, and if I don't pay can they add interest until its £10K and more, or do they have to move it to a DCA and stop increasing the balance at some point?
  5. Hi, My PayPal Balance is currently on -£800.00 as of today. This has happened because I was spending using eBay/PayPal when I had funds in my account but when PayPal went to take it (A week and a half later), the funds had already left my Current Account on other things resulting in my Negative Balance. On my PayPal Account, the Address is an old one and so is the Contact Number. However my Name, Bank Details, Card Details are all genuine and currently active. My bank will remain in good standing because if/when PayPal request the £800.00, it will just automatically decline so I am not worried about going massively Over-Drawn. I'm now pretty scared because I'm Unemployed and have no way of paying back this £800.00, after researching and speaking to a few friends the only option we can see is that the PayPal Account is left Inactive. I know there is a very good chance of PayPal passing this onto a Debt Collection Agency but after researching, I've seen a lot of people saying PayPal don't have a leg to stand on so when they get no response from my old address (or visit old address), they will just stop sending letters and close my account. Would this be a good move? I really don't see any other options, I've rang PayPal to see if theres any way to just freeze my account while I secure Full-Time Employment but they rejected this idea. So even if the Debt Collectors managed to find my Current Address, (My Fathers) he would be able to say I am not a Resident There (Which I'm technically not.), he is very clued up and he would have no issues is warding Debt Collectors off. Your thoughts and opinions please? Edit: I should also point out I'm in England as I know Debt Collection Agencies differ.
  6. Hi there i was wondering if i could get a family member to take out a credit card and then transfer my blance onto it as im struggling to get a new credit card to be able to do it myself.
  7. We ordered a sofa from Harveys on Boxing Day. My wife has rung several times about it and the last couple of times they "suggested" we pay the balance for the sofa in advance as this would speed delivery up considerably. My wife rang again just now and was told they will not ship the sofa from England to Northern Ireland until the balance is paid. Is this proper? Surely once they have our money they can make us wait as long as they want before delivering (we had the same thing happen with MFI many, many moons ago and this has tainted our faith in furniture companies).
  8. Hi everyone this is my first post here, I checked out a few other threads and everyone is extremely friendly on this matter. About a year or so ago my then girlfriend and I were in some financial difficulties until we found FLM Loans which offered quick cash and simple method to pay the money back. Due to youthful foolishness we went for it not realizing what this meant :/. The original Loan amount was £500 to be paid in monthly installments. I would not ask if it were not important although the situation is becoming dire, since July last year I have paid out £833.01 in Payments and Charges yet still have a balance of £477. Every time I make a payment another large charge get slapped on top again. My Balance sheet is here if needed, although I can't post because of the 10 post limit :/ Please if anyone can help me with this I would be very grateful. Thanks Paul
  9. Just a heads up to people with loans from PDE you must contact FOS to add to the substantial file they have on them, if they have done the following, Hi all payday express have been deliberately not taking the full balance even though there are enough funds in my account, they are just taking the interest so as to rollover the loan. They say they are acting on my instructions which is rubbish, I have contacted the OFT and received a very interesting reply. I am also in contact with the FOS.
  10. My Mum's a customer and bought some things on Buy It Now, Pay Later. Her October 2012 statement showed a balance of £0.00, but stated that £394.00 was due before 14th DEC 2012, or interest would be applied. Mum paid the full amount of £394.00, which reached them 21st NOV and was shown on November's statement. But this same statement showed they took the payment off the amount of £705.03(!) (which I presume is the full interest price of all the Buy It Now, Pay Later goods,) which left £311.03 as the new balance! But she doesn't owe anything now! The amount owed, £394.00, was paid in full BEFORE the due date of the 14th DEC 2012! And to add insult to injury, they've even added a £12 missed minimum payment fee to her account too, even though the balance should have been zero on the 24th December 2012 when it was applied! I've written 9 emails to them now, explaining this to them, but their latest email says, "I can confirm that we have now removed the interest and your outstanding balance is £157.80. However, if you pay the offer satisfaction of £87.00 by 10/06/2013, the interest will be removed." WTH?! I just can't seem to get through to them that she doesn't owe anything! My poor Mum is worried sick about all this, and it's sure to have affected her credit rating. Do you have any ideas of how to resolve this please?
  11. ok ive comen into some money and i have some outstanding debts with hsbc and halifax (credit cards and student debts) whiich all defaulted. im currently claiming ppi charges however after i've completed this claim i was curious. should i settle the balance or leave it to drop off. the default has currently been on my creditfile for 4 years. if i settle the balance will it restart the 6 year period or will it still drop off at the time? thanks.
  12. Afternoon, I am trying to do a PPI claim for a friend and it was on a HP agreement. The complicated thing on this one is that my friend went bankrupt in 2008 and a large part of the balance was "written off" according to the statement. I was wondering whether anyone can help me with how to calculate what I should be claiming? Thanks.
  13. Hi Looking for help to find the best credit card to go for. I have a Natwest credit card. This is the first one I have had so not too familiar with them. Time is up now for the first year interest free. So am needing to look for another card to transfer the balance to. I owe 2k on it, actually 1800 as I paid £200 today. I am self employed & have done quite well this month so managed to make a good payment. But in about 7 or 8 months time my income is going to go down quite considerably. Even by about May time I am estimating that the balance will only be down to about £1500. This is the only debt I have. I don't owe anyone else. At the moment I have a good credit rating. That will all change next year when my income goes down. Possibly by as much as £400 per month unless I win the lottery or meet someone & settle down & share living expenses! So am thinking by new year I need to get this credit card changed. Any advice gratefully received. p.s, it's unlikely if nothing changes by May I will be able to pay any back!
  14. Hi i am after advice please, I have an account with JD Williams and had ordered a set of curtains (along with previous orders) the curtains came and was incorrect so these where returned and reordered, the new set arrived today and once again was incorrect so i called up to arrange return and complain about whats happened AGAIN!, I got a right jack the lad who was quite arsy, i became defensive and said things along the lines off 'well there is no way im going to make any payments towards the current balance I am not happy at all with the service and if you want a penny outa me then send a debt collector and then I hung up' all this was said in the heat of the moment due to the bad service and the tone of the agent who took my call today, I have since logged into my account to review purchasing different curtains and found that my credit limit has been reduced down to £800.00 with my balance now showing as £816.58 making me now overdrawn by £16.58 when this morning my available balance to spend was just under £500.00, them reducing my credit limit without prewarning is now potentially going to get me charges?? where do i stand with this as i am now fuming to the max and will no way shape or form pay any charges, my minimum payment is not due on this statement until 23rd oct so even my outburst today on the phone could not justify them doing this as they have yet to find out if this would be followed through, please help!!
  15. We're at the end of our mortgage term with a balance of £20K on a property worth a great deal more, probably £300K plus. We've come to the end of our term, we changed from repayment to interest only due to financial problems a few years ago. Funnily enough the term was extended as well without a new agreement being signed. Anyway the Halifax seem to have decided we should pay the remaining capital forthwith, we're on a very low income so unable to pay or apply for a new mortgage, plus credit file is overflowing! So the question is, can we negotiate on the amount of a final payment from my pension lump sum?
  16. Hi, I have a secured loan with paragon, been paying it for 7 years and so far they have charged me over £36k in interest and I have paid £39K so far. My debt has only reduced by £2,800. I want to do a spreadsheet so i can try and work out how my balance will reduce over the years, I know interest rate may change but I just want an idea of how the payments will start to reduce my balacne becasue at the moment I see no light at the end of the tunnel! This should be a 300 month term and I can't see it'll get paid off in time if over 7 years I've only cleared £2,800 off balance. I thought it might help if I culd put my payments in up until end date of July 2030 and use current interest rate just to see if it does look any better and make things a bit clearer for me. Then it should give me some hope! I called paragon and raised my concerns but they just said as long as I paid my monthly payments on time it would be clear by the end of the 300 months but I can't get my head around it. Any ideas how I can do a spreadsheet please on excel? Thanks in advance!
  17. loan was 5k over 5 years almost paid off! when I checked my statements loan signed for 22/6/07 payments to start or loan commencement date 3 months latter 1/10/07..... KEY FINANCIAL INFORMATION 60 Monthlypayments starting on 1.10.07 bla, bla, interest will be calculated on the daily balance outstanding on the account and applied to the account monthly.all standard! but my account showed, they had added interest from the date I signed the loan. a total of £283.33 which they no doubt added to my balance and have been charging me interest on for the 5 years. So I rang and challenged this and said “I didn’t ask for the start date to be deferred, nor did you tell me you’d be charging interest from the date I signed for the loan until the start date and if you had, I would not have agreed to this. Surely you can only charge interest from the loan commencement date,which is stated on my agreement 1.10/07.” She said” just a mo I’ll speak to mysupervisor” upshot was, make one more payment of £137.14 and we’ll close your account.(asked and have got this in writing now) SO DO I.... A....make the payment and just be happy at that? OR B........Say "hold on a min" you’ve acted unlawfully! Deduct the £283.33 from the balance and re-calculate the interest you have charged me and remove this from my outstanding balance. ? OR C If they have acted unlawfully calculate £283.33 @ 21.9 APR over 5years (total of £1031.79 which is greater than the outstanding balance) do I say hold on. the loans over and YOU owe me money. Think if I pay £137.14 and they close account I’ll have job getting the difference back ANY ADVICE WOULD BE HELPFULL THANKS
  18. Hello, I purchased a car in 2007 for £5450 and with interest the oustanding balance was 11350 according to the finance documents issued by Private and Commercial Finance Company Ltd of London. In 2011 the car was repossessed by their agent and sold at market. I have since received a statement from PCF that shows the payments made and subsequent sale of the car amounts to 13000 +. I havespoken to them on the telephone informing them on numerous occasions that I was out of work due to a leg injuryand since written to them stating that I am now no longer working and in receipt of the State Pension as my only income. Today 10/07/2012 I received the following letter. Mr. X. XXXXXX Address URGENT RESPONSE REQUIRED Dear Mr XXXXXX Re: Private and Commercial Finance Company Ltd and Yourself(ves) Agreement No: XXXXX Outstanding Liability: £3917.83 We refer to the above matter and note that we have recieved no payment from you since 17/04/2012 This is your final opportunity to contact us with proposal;s to clear your balance Should we not hear from you by 13/07/2012, we shall instruct our solicitors to obtain a charge against your property. This means that a County Court Judgement will be registered against you which may result in enforcement and sale of your property If you wish to avoid this action contact us asap. Signed Sanjay SHah Also attached is a printout from Ooplah giving the value of my house. All I can say about that is thanks didn't realise the house was so valuable Any help would be acceptable Keltyboy
  19. Hi, I was accepted for my debt relief order this week, before it was submitted on the day I rang creditors and got up to date balances, these were submitted. My DRO was granted the next day, this morning I received a statement from one of my creditors and it seems the day I rang up for the balances that evening they updated the balance and now one of my amounts is wrong, it is only out by about £9 I actually added extra to the balance in case of charges, so now what do I do? I am so annoyed I asked on the phone was the balance correct for the day and they said yes, no mention of charges being added the end of the day. I know I am not supposed to make payments when the DRO has been granted, but I am afraid now the balance is wrong the company will add charges and interest to the £9 owed and then I will be back to square one again. The creditor is a catalogue and we all know how they like to add on the £12 charges. I am going to ring the insolvency service to ask but they are not there until monday, and I feel anxious about this now, has anyone else been in a similar position who could advise me, any answers or advice greatly appreciated. Many thanks in advance.
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