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Found 10 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. Thank you very much indeed in advance for any help anyone could give me as I am VERY worried I am going to end up with a large bill / CCJ I have no way of paying. Completely out of the blue around 6 weeks ago I received a letter from "1st Credit " based in Reigate saying that they were going to apply for a " stay " to be removed on a court case for a debt they were chasing me for back in 2015. This relates to a credit card that I opened in Feb 2000 (!!) - the last payment towards the debt of £25.00 a month I paid back in Nov 2011 !!! 1st Credi thought the debt on 18th Nov 2013 and filed a claim against me around the end of 2014. I defended the claim and asked for a copy of the terms and conditions of the agreement , copy of the S76CCA 1974 termination notice , a copy of the default notice and finally copy of the legal deed to assign. Although I was under the impression I had successfully defended the claim it looks like it was just " stayed ' and 1st credit have now successfully lifted the " stay " and consequently I have been sent a " directions questionnaire " that needs to be filled out and a copy sent to 1st credit !!!! It also looks like 1st credit have managed to find term and conditions of the card , copy of the assignment , stament copies and also a print out of the debt - obviously it looks like they have added a " spiteful " amount of admin and obviously I shudder to think how much inters they will aadd on from nearly 20 years ago !!! Interestingly it looks like they haven't provided a copy of the default notice or termination notice that I asked for ?? My question is - firstly is there anything I can do - is there other information they SHOULD have given me and haven't - also is it a legal requirement that they give me this documentation when chasing the debt and where is that stated ?? Apologies for such a long post but I really am worried - these companies really are incredible - they must have bought this debt fo net to nothing and are clearly determined !!! Once again many thanks indeed for any help / advice.
  3. Hi guys, Wonder if you can help with a couple of questions I have regarding our housing situation. We have been renting the same property since 2002 via a private landlord and rent payments were made direct to them as well as arrangements for any issues that arose with the property. During this time the rent has remained the same so no increases as our relationship with them was very good. Sadly due to ill health they have now instructed a Letting Agent to manage the property as they do for others they own (ours stayed a private arrangement up till now) and I'm a little unsure what to expect having never dealt with one before. The rent having not been increased in over 13 years will now clearly be under market averages (probably by around £150) so I guess my question is can the agency increase it by a large amount with immediate effect? The tenancy was an AST to start but reading around this would have changed to periodic if I am correct so what does this mean and are there any differences? Also I know agencies charge for things like tenancy renewals would we need a new agreement under these circumstances or if they increased the rent? They has also asked if the deposit was protected however our tenancy was prior to this requirement and was not but would they do this now retrospectively and provide us details of this? Thanks in advance
  4. hi I got a parking fine . .however as the registration was wrong.. ..i ignored it .. .. it was AB50 CDE instead of AB55 CDE for example sake. yesterday i got a letter from the private parking company asking for fine amount + the late fees etc etc...so its like around 100 pounds now... Maybe they managed to trace me from DVLA record............... What are my options here!!! Pay the fine ?!? Dispute it being the incorrect number !!! any advise will be much appreciated... Cheers Numpty N
  5. Ok.. Im in a self managed DMP after an attempt at a DMP with stepchange failed..My creditors have all accepted my offer of £5 a month each and its being going fine for 6 months untill one more debt turned up I had forgotten about.. This debt which was a £52 payday loan had become £181 and although they accepted the £5 offer I looked up the original paperwork and found that the last balance with the original firm ( Ferratum ) was £92...but since being sold on had virtually doubled to £181... This led me to having a look for other paperwork and on my credit file and I discovered that appart from a couple of high street bank debts which have not had any charges etc added nearly all the 'payday loan' type debts have all nearly doubled or in some cases tripled the original debts due to multiple charges..and Ive now worked out that at the current value ti will take me nearly 9 years to pay off all these debts but if I only paid the original amounts ( including interest just not charges ) it would be only 5 years.. Is there any thing I can do about these charges as these firms all seem to be able to charge what they want literally willy nilly and Im not happy to be paying silly over the top charges if I shouldnt have to.. Any advice welcomed
  6. Hi there, I have a Lloyds TSB Credit Card debt. Until 3 months ago, they were happy to recieve payments via my DMP Payplan. Despite that, they havent actually written to me for 2 years. No sign of being passed to a DCA. Now my PayPlan account is closed as I have decided to deal with all my creditors myself. Not sure if I should just wait to hear from them or take some other course of action? The outstanding balance is confusing because of PayPlans shoddiness, and my over-reliance on them. For example, I have another bank a/c debt with Lloyds. Payplan said the outstanding was £179. Since stopping with PayPlan, the debt has been passed to Wescot, who say the debt is £451. (This is on a separate thread). So back to the Credit Card debt - I am unsure of the amount outstanding, and wouldnt CCA request them because - as far as I know - Lloyds themselves are still dealing with it. Thanks again in advance
  7. Hello, we see many complaints on this site about HSBC Managed Loans, but very few outcomes are posted. Is this because, No one is successful They impose a confidentiality agreement in the settlement Complainants give up They send the "Boys" round ? Just a casual enquiry before we start our own compaints process.
  8. Hi, Please can anyone give me some advice. I had to take on my violent ex boyfriends debt in July 2007 to get away from him and it was for £23,000 in the form of a managed loan by hsbc (very helpful of them!! not!!) The loan was 13.3% and variable. payments are £316 a month I have been paying this loan for over 6 years now and the balance shows as £9.916.89 today. During moving I lost the paperwork for this and the bank have also now admitted they have lost their agreement also. My question is I cant remember how long the loan was over and the bank say it was for 12 years when it was drawn up. Well im confused as if I pay £316 for another 6 years that's well over the balance that's left as only about £60 a month goes out on interest. So my sums show the balance should be cleared in 3 years not 6 years??? help please??
  9. Just received a letter from them this morning which said application for ccj on the top of it. I wrote to them a couple of weeks ago stating i will pay them £40 per month as this is all i can afford and they havent even acknowledged a word i wrote . Looks like they are going for a ccj. My other payday loan with wonga is also not going anywhere. The recorded delivery letter i sent offering installments to the dca they have appointed was returned even though i double checked the address i sent it to. My DMP with cccs is due for a review, i know now that i shouldnt have taken these payday loans and want to ask cccs for their help but believe they will throw me off the dmp. Dont know what to do next! Any ideas?
  10. Hi I wonder can someone give me some advice. In 2006 HSBC gave me a Managed loan to consolidate 2 credit cards and an overdraft and I pay this monthly and have done since 2006. I contacted them regarding the balance on this account as I had been paying this for 6 years and thought it may possibly be nearing completion. To my shock I found out that I had not even paid 50% of the capital off and thought that I should have paid off a lot more than that. I then asked for opening balance figures etc and on my calculations the loan balance should be around £3000 less than the figure they have quoted me. this is using the interest rate that they told me is used to calculate the loan. They have told me that my last payment will be in 6 years time whereas using my calculations it should be 3 years time. I am fairly sure I have calculated the interest correctly and can't see how I would be so far out What should I do ? Thanks Rich
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