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Found 15 results

  1. 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.
  2. looking forward to sunday On sunday it becomes illegal for companies to chage a fee for processing credit and debit cards. Now this is no interest to the private parking forum becasue quite a few companies such as Euro Parking like to add an imaginary £1.50-2.00 unicorn food fee to their bills. The dodgy DCA's do the same. Now, if they are claiming that you knew about these add ons because they were in the contract that will void the entire contract If you are wanting to pay them because you somehow believe that they must be right otherwise they wouldnt write that in their letters then question yourself why a company would stoop so low as to chisel you for a couple of quid when you owe a hundred and risk it all? look at the letters carefully adn if yours has a demand for a payemnt processing fee or admin fee for cards etc then tell us who so we can compile a checklist and help others to beat them with their own stick. I reckon a couple of hundred thousand complaints might fet the authorities doing something about this rotten business
  3. Over the past two years i've racked up an incredible amount of debt, it reached as much as £60k last Christmas but this has now come down to c£50k. I have a gambling problem which is where all this debt comes from and which is why its so hard to shift. The pressures of this debt, personal relationships and job insecurity have started me feeling anxiety and stress related symptoms, i don't want to over-egg this but going to the GP recently i realised that things had to change. As you can imagine the largest problem i have is being reliable with any substantial sum of money in my account. I'm currently living at home with parents and need to move out by March/April, i'm finding this difficult for budgeting purposes as i don't know how much its going to cost me in the future and i'm already struggling. My Debts are as follows:- Sainsburies Loan - c£11k Halifax Card - £9k IHG/Barclaycard - £4.5k Virgin/MBNA Card - £4.5k Nationwide Card - £4.5k Amex Card - £3k Currys/Creation - £2k Onstride Finance - £2k 118 Money - £1.9k Marbles - £1.2k Paypal - £1k Very - £700 In order to make ends meet i've also taken out several phone contracts to sell the handset, this means that i have about £150 pcm expenditure on line rentals across 5 contracts. Current salary brings in about £2490 per month, minimum repayments for all of these are approximately £1900. So if i was continuing to live at home and if i was able to not fritter away my entire pay packet within 7 hours of it hitting my bank account then i could get by. Unfortunately neither of these are true. I'm considering making a change to my working situation resulting in less hours and a higher pension payment (thankfully money i can't access to waste) which would bring my new salary to c£1800 per month, out of that i would estimate £800pcm for rent and bills, £450 for day to day expenses. So i can't work out whether i can put myself through the mass defaulting stage, i don't know if i can bear the constant calls, i don't know how easy it will be to get a place to rent with a wrecked credit file, i don't know what to do right now. I'm currently asking the gaming company for a partial refund of my recent deposits (After i've self excluded), if that provides a decent return i can keep going with the regular payments for a bit longer but its no long term fix. My dream is to own my own home, trying desperately to work out how i feel about pushing that out another 6-7 years. Also wondering if i should leave open the Halifax account or pay separately as its still on a balance transfer offer and presume it would be good to have one high value account with history when looking to get a mortgage down the line... Bit of a stream of thoughts there but i'm really at a crossroads, mostly 0/1 months behind and its about to hit the fan.
  4. British Summer Time So less than a week after spring has officially sprung and we suddenly find ourselves in British Summer Time. Of course this is nothing to do with the seasonal situation, it's the annual clock change that takes us into Daylight Saving Time. How did this come about and why? http://www.itv.com/news/meridian/2016-03-24/simons-blog-british-summer-time/ Everything you need to know about 100 years of British Summer Time http://www.irishexaminer.com//examviral/fun-times/everything-you-need-to-know-about-100-years-of-british-summer-time-389281.html … In 1947 they actually changed the clocks four times – twice forward and twice back. British Summer Time: When do the clocks go forward? Why is this done? | Home News | News | The Independent http://www.independent.co.uk/news/uk/home-news/daylight-savings-time-clocks-spring-forward-british-summer-time-when-why-what-a6928911.html … Drat i was so excited for a moment-we lose an hour of sleep.
  5. Hi all. Hope everybody had a good Xmas. Over the last few months I have been thinking long and hard about my financial situation, and more so how to get out of the renting circle and back into owning my own home. The facts are: Old Life 40 year old (male) Divorced September 2007 Marital home repossessed 4/08 ( I left 10/07 - Ex left 12/07) Repossessed due to no communication between her & I **NO EQUITY IN PROPERTY** House sold leaving approx. £20k shortfall - No paperwork/court case as our new address not known. Various unsecured debts with no communication/payments since 09/07 ( Statue Barred ?) New Life Rented private since September 2010 Never registered on Voters Roll Moved to new rented property September 2015 No Bank account since September 2007 NO CCJ's registered on Trustonline - have searched ALL address over last 10 years. No mobile phone account in my name. Infact, nothing in my name, other than tenancy agreement So, I don't know if the lack of communication is from not registering for anything, but I would like to start moving forward and getting a bank account, going on the voters roll etc etc, however I am concerned about opening a can of worms and getting chased for these debts. Know I now there will be some divided opinions that I should make contact with all my creditors and start paying off my debts, but it is not something I want to do for reasons that I wont go into here. As stated initially, I would like to get back into the housing market - my wife and I earn in excess of £50k pa, and she has an A1 credit rating, however I earn the most. We could afford a mortgage no problem at all, and I believe I deserve a 2nd chance, the marital home was only repossessed due to both my ex & I being stupidly stubborn over offers that we received for the property and we were not talking, estate agents were the go between, and things just went pear shaped. Sorry for the long post, can anyone help with the best step forward without dragging up the past? I know I need a full credit report, but cannot do this until I get a bank account to prove my identity. Thanks all & Happy New Year.
  6. My son rents out a property via an estate agent, despite repeated requests they are not releasing the rent. They have held this cash for 22 days now, blaming everything from money laundering to slow bacs payments. What can he do to make them pay the rent into his account.
  7. Halloween is approaching.Can you believe this event is coming around again. I get so excited this time of year. Already i have been in shops,supermarkets going down the aisles trying masks on,putting claws on. Appearing around corners of aisles. giving friends the scare of the day. Playing with the puppet ghosts things like that. Seems to raise a smile or two in a world of serious issues. Or wondering perhaps when i will be locked up. You are never to old to enjoy these things.Not that security does not give you strange looks as a claw appears to shake their hand. But it usually ends up in a laugh.Thank goodness. If you are older remember your youth.When you were children running around. Go back there,think of those happy times,a happy place.And smile as you remember. So we are building up to this day.Saturday the 31ST october. Get your bags of goodies ready for the kids when they call round with their mums and dads. Do not turn the lights out and avoid.Do not dread this day,enjoy it.Get a Pumpkin,carve it,light it.Put it outside your door. Enjoy this event,have a laugh If you wish to,post a picture. I will, i have a nice one from a few years ago.In a while i will. If you have any recipes for this day post them.Perhaps a picture as well. Give others ideas for this tradition. Do you have a party on this day. I can feel many wanting to post,or i hope they do. If you are not a member just join us,we are a friendly lot.Life is not serious all the time we have to have fun as well. http://www.consumeractiongroup.co.uk/forum/register.php
  8. Some of you may know that Ive been dealing with Lowell for nearly 8 months now. Well today i rang experian and found out that Lowell have gone past the 117 searches on my credit profile and done approx.... Wait for it..... 200 Searches I would like some advise on this as to what to accept as a resolution. I have one account with them a Cap One Card, which is currently standing at £300 remaining. Im thinking as below; Is this a reasonable resolution that I should request? I got a response from Sara De Tute herself which advises she will contact me today as a final response.
  9. Dear Caggers, I have worked for NHS as a community nurse for nearly 30 years now. Last financial year (April 2013 to end of march 2014) I had two major operations. The first operation was in may 2013 and I took 4 weeks paid sick leave. Then I had a second more complex one in October which landed me in a coma for 10 days. I had 3 months sick leave. I went back to work on 20th January 2014. I was put on a phased return for 6 weeks ( which incidentally was pretty much full time work) . My Case load was very busy and no one at work mentioned to me I ought to use up my annual leave before the end of the year. Then around beginning of march I was asked to go and take up post in a different team that was short of staff to help out for a short period of time ( one year). I agreed to go and started in the new team on 7/4/14. On my part I assumed because of my special circumstances I would not have any problem carrying it over. Recently I have had my annual leave balance from last year checked. I was told from my yearly entitlement of 33 days I had only taken 13 days which leaves 20 days annual leave to carry over to this year. Well my new manager is not happy and is quoting Trust policy that if any one goes on long term sick (21 days and over)then the amount they can carry forward in the next year is based on a 28 day 'statutory' entitlement. However if they were able to take their full 33 days within that period of a year it would be fine. My case is, I argue, exactly that after returning from my sick leave in Jan 2014 I was put on 6 weeks phased return. After that I was then asked to go and help out urgently in a different team who was short of staff. As stated above I picked the new team on 7/4/14. I argue that no management person or occupational health ever informed me of this supposedly recent change and no one encouraged me to use up my leave upon me returning to work in January. On the contrary there was an urgency for me getting into a new team to help out. There was also very little time left for me to exhaust all of my 33 days annual leave from last year. I feel I am being penalised for being unwell. has any one experience any such problems? can anyone provide useful advice?
  10. Labour is calling on the Government to bring forward plans to introduce a cap on the cost of payday loans. Last month, the Government unveiled plans to amend the Banking Reform Bill and cap the overall cost of short-term credit. More : http://www.mortgagestrategy.co.uk/news-and-analysis/politics/labour-wants-payday-loan-price-cap-brought-forward/2004156.article
  11. The industry has put forward a range of alternative Financial Services Compensation Scheme funding models to achieve a fairer way of levying regulated firms. The FSA’s consultation on reviewing the FSCS funding model, which closed last week, proposes increasing the annual limit of claims paid by investment advisers from £100m to £150m and calls for claims exceeding the annual limit for one class of firms to be met by a Financial Conduct Authority “retail pool”. It also proposes basing the levy on either one third of the claims expected over the next three years, or the costs anticipated for the following year, whichever is highest. More; http://www.mortgagestrategy.co.uk/latest-news/will-the-fsa-change-its-mind-industry-puts-forward-fscs-proposals/1060826.article
  12. If someone applies what's below to DCA's they will soon change their stance. A businessman plagued by nuisance phone calls offering compensation for Payment Protection Insurance has secured £220 in an out-of-court settlement. Richard Herman, 53, was so fed up with the unwanted calls arriving from India, he decided to take matters into his own hands. He warned the company that, in future, he would invoice them £10 for every minute of his time they used. When the calls continued he began recording them before finally invoicing the company £195 for their use of his "time, telephone and electricity". Upon receipt of the invoice the marketing firm acting on behalf of UK-based PPI Claimline Ltd, denied making the calls. When Mr Herman revealed he had recorded evidence, they still refused to pay. But when Mr Herman filed a claim in the small claims court for the unpaid invoice - plus £25 in costs - the company offered to settle the debt out of court and transferred £220 into his bank account. Mr Herman said: "I kept being called, as we all do, and I thought the only way for them to stop would be for me to speak to them and say, 'For goodness sake, take me off your list!' "Then it occurred to me to tell them that if they call again I'll charge for my time. When they continued calling I sent them an invoice for 19.5 minutes." To encourage others to do the same Mr Herman has set up a website with examples of covering letters and invoices to send to nuisance callers. Even though the validity of Mr Herman's original invoice was not tested in court, he believes anyone who warns cold-calling companies they will be charged if they call, have a right to invoice them. "I did business studies at 17 and studied 'offer-and-acceptance' so I knew a verbal contract is just as valid as a written one but harder to prove. "The recorded calls proved I did tell them I would charge for my time if they called again". Mr Herman, who works in the telephone industry selling call-recording equipment, said his action was a last resort after asking the Information Commissioner and the Telephone Preference Service for help.
  13. Hi Guys, I received a letter today which states the following: Dear Mr (my name) We are trying to contact (My Name) to discuss an important personal matter and have been provided with this address. If you are the above please call us urgently on 01702 444766 in order to discuss this matter. Should you believe the information we have is incorrect please contact us so that we update our records and stop any further correspondence on this matter being sent to your address. If we do not hear otherwise within the next 10 days then we will assume we have the correct address? We thank you in anticipation of your assistance and look forward to hearing from you as soon as possible. I lived with my ex partner for 10 years before moving to where i am now in 2007 in a different county, about 6 months after i moved in i received a phone call from some debt agency saying i owed them money for a computer i had purchased from kays catalogue, i did get a computer but i never signed anything it was always in my ex partners name, i cannot honestly remember signing for anything? Foolishly being gullible, they scared me into paying £10 a month, even though i'm on low benefits, this went on for a few years when my benefits were cut and i rang the debt company and explained, they said don't worry about it and i stopped paying, that was 2 years ago and i'm surmising this is what this letter is all about? I'm just so worried where it says if we do not hear from you in the next 10 days they will assume that this is me. I just lost my dad in august and could well do without more trauma - i'm really scared. Any helpful advice you could give me i would really appreciate it. Kind regards steve
  14. Hi, I hope someone can help me or give me some advice, I'm really anxious and don't know what to do for the best. Basically the story is that I got in from work last night and had a letter waiting for me from a company called 'Pace Forward', it says that they are trying to contact me 'in order to discuss a personal matter'. I was immediately concerned as the wording of the letter is very vague, it doesn't say what it is relation too but it says to call them immediately, it goes on to say that if I am not the person named above then to contact them so they can remove my address from their records. When I was younger, (about 6 years ago) I was living with friends and ran up some debt, I have almost finished paying everything back but I remember that I defaulted on a credit card which was never resolved to be honest, I'd pretty much forgot about it as its been so long and I have never heard anything from anyone in all this time. But then I get this letter out of the blue and its the only thing that it can be, I'm now really worried as I have just about got myself sorted then this happens. I checked my credit report about 3 months ago and there was nothing on their regarding this credit card so I was just hoping that I wouldn't here anymore about it. I don't even know how much they want from me, but my instinct is not to ring the number, but equally how am I going to find out? Does anyone know if this sum will have just been accruing interest for all these years if so, I don't know how I'm ever going to be able to pay it back?? I'm meant to be buying a house with my girlfriend in the next few months and i'm worried that this will scupper any chance of that by damaging my credit rating. If anyone could give me some advice I'd really, really appreciate it, at the moment I just feel a bit worried and I don't know what to do for the best. Thanks, worriedandconcerned
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