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  1. Good day ! I have a very old debt with Hsbc and really need some help, please. I had 2 accounts with hsbc - set up start 2003. A business account - which was simply me trading as XXX. Had a healthy Turnover and with an agreed unsecured o/d of £3k. And a personal account, again healthy with an agreed unsecured o/d of £500. The Business Account was closed end 05. Owing nothing. I continued to trade only using my Personal Acc. Between my business and property rental I had enough healthy flow of income for Hsbc to increase my o/d to £25k by start 2005. The o/d was an "On-demand Form"; Unsecured. However, during 2005 I started to have financial problems and ended up owing the whole o/d amount of £25k. By the end of 2005 Hsbc wanted to transfer my o/d into a Managed Loan Agreement. They sent the papers, but I never signed. So then Hsbc handed over the whole debt to a DCA, Metropolitan. I paid them a nominal monthly amount for 3 years. Then Hsbc wrote, start 09, saying they had assigned the total debt to CL Finance. Again I have been paying a nominal monthly amount for almost 5 years. In total I have paid back apx £4k to these DCAs. I missed a couple payments this year. CL have just written demanding immediate payment of the £20k and threatening Court Action. What can I do ? The debt is unsecured. I do not have the ability to clear the outstanding o/d amount. Would be most grateful for advice. Many thanks x Anyone ?? Can I send a template letter to CL Finance ? Like a SAR ? What form do I send into CL to see if the unsecured overdraft is enforceable ? Many thanks for advice
  2. Hey- myself and now ex partner took out an unsecured loan back in 2006 for £20k on top of a mortgage we had at the sametime - all ok - fast forward 1 year he then takes out a secured loan in our names, forged my signature (this is not why I am writing but just trying to give you some background) he told me he would kill himself if I reported him - we split up only after 2 years did I then contact bank and said I didn't sign or agree to this - they wouldn't back down, police wouldn't pursue the property was sold and the proceeds were swallowed up for his secured loan I stopped paying the unsecured loan in April 2013 (when we split up we walked away and paid nothing) I rented out property and we sold this end of 2013 there is nothing on my credit file for this unsecured loan that is now £16k -I was able to obtain a mortgage in 2016 no problems I am now getting letters from a company working for the bank wanting payment of the £16k - I had some correspondence with them back in 2016 and then it stopped - my question is do I have to pay this? why hasn't this been on my credit files?? I hope I have explained properly I know it will be 6 years of non payment in April but as I had correspondence in 2016 would this be statute barred
  3. Hi Last year I separated from my husband, as a joint debt we had an unsecured loan of £30k from NRAM which we had for years, my ex then decided to go bankrupt leaving me liable for the loan. I paid my half of the monthly amount due for a few months and then just couldn't continue to pay anymore. I wrote to them in December 2016 offering them a full and final settlement figure, which they ignored (this was quite low). The first time I have heard from them since me contacting them in December 2016 was last month they wrote to me to say I still owe £28k. (even though through interest this has been paid back and more!) They are now threatening: *instructing a field agent to review my position *Debt collectors *CCJ *Bankruptcy They have given a time limit for me to get in touch with them. I don't know what to do, I haven't paid in over 1 year now, I live in rented accommodation, I don't own any assets, I have a limited company am worried if they do make me bankrupt then I wont be able to carry on with this. Do I offer them again a full and final settlement offer? I don't have any savings I would be offering this via a third party. Has anyone been sent a similar letter? Does anyone know of NRAM accepting and Full and Final settlement offer? I've heard that when a company sells a debt its usually at 20% - 25% of the amount, is this correct? Should I offer at this % of the balance? As I don't want for it to be rejected again. Any advice gratefully appreciated. Thanks
  4. 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.
  5. Hello, Long story short: I was employee of a company which buys stock in euros. Due to the referendum and the GBP drop, our margin has sank and after a short recovery the company went bust and we have all been made redundant. Because I’m a Spanish national living in the UK (7 years now), I could well stay here with the so called “settled status” but my landlord has already told that he won’t renew my tenancy in February because he assumes that all EU nationals will be illegal and he doesn’t want trouble with the government. To be honest I’m quite fed up with all this uncertainty, we simply don’t trust the government and we (as young couple with kids) have decided to leave the UK because we consider the situation is not going to get any better both socially and economically. 3 years ago I (despite having joint accounts, the debt is in my name only) have taken an unsecured loan and there is still £28K outstanding. The bank has approved it because our combined salary was quite high and we were both on permanent jobs and back in 2015 we were not even thinking in leaving the UK but the referendum has changed everything. My company was supposed to fund my leased car as part of the job conditions but it has never happened, so I’ve supported those costs as well. Now we have got about 1/3 of the loan on our account and we are going to use that money to set up a business in Spain with very low startup costs and a decent profit margin. But we still need the money to survive for the first few months and success is not guaranteed. So basically I will have to miss payments and it’s just a matter of time before I get a knock on my door in Spain as I will be registered as sole trader (probably easier to find). I have searched about enforcing debts throughout the EU but I get different results, and I’m a bit confused, basically I’ve got the following options: 1. I simply vanish to Spain without telling my bank; they will certainly send letters to my former UK address; they will apply for a CCJ so with this option I will be unable to use the statue barred option after 6 years. They will eventually find my address in Spain and send debt collection agents and eventually apply for a court order. If they find me I’m served. 2. I report change of address and let the bank know about my new address in Spain. But what they don’t know is that I will be staying temporarily with family, then getting my own place. So any letters will land on my family’s place. Now the bank cannot apply for a CCJ but they can well take me to court in Spain but that might turn into a costly and lengthy process for them (or not?). 3. As soon as land in Spain, I can send a letter to the bank explaining that due to unexpected circumstances I will not afford to pay anything for about 2 years, but hopefully I will be able to resume providing the business is successful. My concern is that they may not accept that and because I have now admitted that I’m in debt it is much easier for them to issue that sort of european payment order. 4. I declare myself bankrupt in the UK. I don’t have any assets in the UK but I will have low value assets (max £2000) in Spain which I need for my business. But I don’t know whether my assets are safe in Spain when declaring bankruptcy in the UK only. I don’t intend to return to the UK except for tourism purposes. Please note that I intend to pay the debt but not at an excessive interest rate. It will take some time for us to build up some savings and pay them. Also note that the bank in question has not got any branches in Spain. What do you consider to be the best option for me? Thanks in advance.
  6. Same old story I'm afraid..... We had a loan via GE Money/Home lending for £5500 and had only managed to make a few payments on the account when i lost my job. We spoke to GE and advised them of the situation, that the problems were only temporary and that we would make arrangements for the arrears to be cleared as soon as possible. The call taker insisted we make a payment arrangement but as we were living off thin air I was unable to do this. I offered £5 a month token payment which was refused and advised i couldnt do anymore at the present time. The debt was subsequently sold to Link Financial and shortly after recieving a letter from them we received a very rude call from someone at link who advised me "We own the debt, you owe us £6600 (or thereabouts) can you make full payment now?" I advised that I didnt have £6600 knocking about and that we would be able to make a payment offer but was just advised "we'll be sending you court forms" and the call was ended by them. Duly the court forms arrived and unfortunately due to fighting repossession we did not attend the hearing. CCJ granted and now they are going for charging order THIS FRIDAY 12th (in a court 60 miles from our nearest court!) . How can i avoid a charging order? Postpone the hearing?? It is in our mortgage terms that if someone applies for second charge they can cancel the mortgage/sell our house!!! I have just started a new job and could not get the time off to attend. Any payment would have to be small due to arrears on water/elec/gas etc and we do not currently have the money to pay court fees to have set aside???
  7. Hey Guys. I was called by a company called Cabot on 15/08/2017 re debt. They didn't go into detail as i was on holiday. I ended up coming back later than planned and ended up coming back on 28th. Since then we have had some family emergencies so was unable to deal with stuff. I called them yesterday and they said they where calling in regards to an Egg loan (which i dont remember). They said they couldn't discuss things as the case had gone through to their sister company a Solicitors firm called Mortimer Clarke. I called Mortimer Clarke today. They said they cannot deal with the case as it was being claimed through the courts. I asked for details re the loan. All they could provide was: 1. a date the original loan was taken out (Dec 2007), 2. The default date. 3. The last payment date. They cant tell me: A. how much the loan was for B. Probably not be able to get the original credit agreement. C. Statement on the account D. How much the last payment was E. How much the default amount was I said if i put in a CCA request formally then do they have to provide. She said they may not have it. Although she was hesitant and trying to avoid the topic of the Agreement. I got an email address to send the formal CCA to. They said a bulk court claim had been put in and they couldn't do anything with the claim now until i respond to paperwork. I haven't lived at the address they said the details where sent to for about 2 to 3 years so haven't received anything. The girl provided me with a number for the court but no name so asked me to call them for a copy of the paperwork. I asked to put the account on hold and explained the situation about traveling but they where not having any of it. What do i do? Please help!
  8. Hello! I know the answer is easy to find but I can't find it! I have approx £360 left of an enormous loan with WF. I have refused to pay it for possibly a year now. Might be slightly less. I know there is a letter you can write about not paying the fees and telling them politely no. But I can't find it. Please can someone point me in the right direction? If I'm completely wrong, I'd love your advise J
  9. Having so many Pay day loans (different thread already) and gambling I took stupidly on the same time unsecured Loan – contract with TM ADVANCES LTD. The interest its huge but when you are gambling you don’t think about now I need a help. They didn’t ask for Bank statement and I can see searches on my Credit file so was very clear how much debt I had already but I am not expecting that this one will be easy
  10. Hi all, new to the sight, and indeed, to debt. Had a look around here this morning, and I'm quite frankly overwhelmed by all that is concerned with debt and debt resolution, so please, bear with my ignorance! I'll try to keep this as concise as possible also. Full time employed home owner/mortgage, one active credit card with my bank which I over pay on religiously (£2k balance) so no issues there. No HP/credit, and no defaulted utilities. Wife left Dec 2015 (not divorced yet), I remain in the house and the mortgage is in my name. I'm also a lone parent to 2 boys, 6yrs and 9yrs. In Jan 2016 I got a letter from PRA stating 'my' account had defaulted on 'my' debt (from MBNA credit card) of £10278.34 and advising me I had previously to that point been paying £80pm against the amount. I had no knowledge of this until the letter landed on my mat. As you can imagine... It's come to light that my estranged wife had, over a number of years, been using one of my cards without my knowledge. The first I knew of this debt was the letter from PRA. At the time I was left financially devastated, and have spent the past 20 odd months getting back on an even keel (hence the £2k balance on my current credit card). As such, during this time, I kicked this £10278 debt 'into the long grass' as it was not my priority. Wife also owes other debt held by PRA and a number of other debt companies, and has 'bumped' many of these payday loan companies. I get regular mail in her name from people chasing her for debt. Quite the girl. I have received several more letters from PRA (last one Aug 17th 2017) advising me the matter is with their litigation/investigation/collections team, and an offer of a 'one off' discount allowing me to pay only £9250.51. They've also predictably been phoning me (assuming estranged wife gave them my number...), and also phoned daily by what has been described to me as a 'hunter' for PRA to establish if I am resident at my address. None of these calls I have answered. I am expecting a doorstep knock, as this 'hunter' is only 20 miles away. I was at the point last week of phoning them and saying, "I can give you £100pm...." but thought better of it. As I am seething that the debt I did not accrue is in my name, but yes technically it is my debt. I have no way of disproving this. I spoke to a solicitor last year who advised they could likely establish the debt was not accrued by me, but it would probably cost me £10k in their fees. As it stands then, wife had been paying £80pm to Activ Kapitol (the only thing she did concede), and stopped paying when she left in Dec 2015 (they should have knowledge her paying it over the years as it would have to come out of her account). Obviously, the status of the debt is 'defaulted'. I've paid nothing to it as I wasn't able to during this period. The only thing I have done (last week) was fill in the assessment form on PRA's website. Gin has a lot to answer for... What's my situation? What's likely to happen next? Will I end up in court/CCJ? Do I have to pay this? Should I just pay this and get on with my life? Again, please appreciate I'm all new to this. And yeah, I know, ignorance of the debt is no defence. Many thanks, Jason.
  11. Hi guys, Really feeling a bit as though I'm in over my head and could do with a bit of help from you. Without going into masses of detail straight off the bat, the background is:- In 2005, I got into difficulty and my bank wrapped up all my credit card debt, overdraft, and loan into a 'managed loan', total of which was circa £10K. Fast forward to 2011, I was again in trouble, had an accident in August 2010 in which I broke both legs, which was the start of the slippery slope and to cut a long story short, I defaulted on this loan, of which there was £3193.00 outstanding. Also took a parachute account and left my current account, which was £59.00 O/D. Various letters received over the years but I've now had one from a notable Solicitors which appear frequently on these pages. Claiming £3252.00 for an overdraft, how convenient. I sent a letter back requesting that they comply with pre-action protocol and stating that as I have never had an overdraft even approaching that amount, could they provide the detail. They have responded basically telling me to review my own paperwork etc. Can you help me please?
  12. Hi all Hope you can help me with a few questions. My father passed away last week we are currently in the process of sorting out his affairs. He left a will and a small amount of savings. So far we are on top of everything after taking legal advice regarding an ISA with just over 5k in it have been informed that due to the small amount of savings and the will... probate isn't needed. But there is a loan outstanding that was unsecured and taken out in March/April of 2015 to have solar panels installed on their house. This loan was done soley in my late fathers name. Once the funeral expenses have all been paid out there isn't enough left over to clear the remainder of the balance.. . It won't even come close to putting a dent in the remaining £8.5k or so (I think the original amount was 10k) after about 15-16 months of paying £126 a month. He co-owned a house (they'd done a separation of tenancy to cover any potential problems should my dad have to go into care if my mum passed first) and my mum inherits everything. .. Which is the house and a small amount of savings (less than 7k total) and funeral expenses that are expected to be a little north of 5.5k. The loan in unsecured with Icanobank... but we need to know if my mum will be expected to continue with payments, or if a demand for the balance will be made (which cannot be paid in full) or if they may try to make a claim on the house when it's sold (my understanding is that they cannot try to force it's sale as it was an unsecured loan). There is a small mortgage remaining on their house of about 18k We are still in the process of sorting out my mums finances, she will retain 2/3 of my dads pension each month and the DWP are currently calculating her state pension but have said that my dads NI payments (mum only ever worked part time) can be used to top off my mums, so she should be getting the full £155 per week. This means that her income would be enough to cover all of her outgoings.. . unless she has to keep making payments on this loan in my dads name. Your advice would be most welcome as I want to be fully aware of legal rights and responsibilities before contacting them to inform them of his passing.
  13. Hi there, I have recently sold a property which was mortgaged on the well known Together product. I financial advisor advised that I delink and retain the surplus as a deposit towards the purchase of a new property (currently renting at present due to relocation). The apr on the unsecured element has jumped to over 12%. While this was not unexpected, this is a huge amount, and with the remaining term of 25 years, I will be paying in excess of £100k on an original £30k unsecured element. To me, there must be a case of mis-selling here. I know there have been moves to challenge all this, with nram actions groups etc, but it seems to have gound to a halt. Question is - has anyone successfully challenged the crippling t's &c's of this hike in apr? Is this something worth pursuing. Its late at night, so I can elaborate more on my specific circumstances during the wekl. However, any advice would be greatly appreciated. Many thanks.
  14. Hi everyone, not been on the forum for a long time, mainly due to the help and advice I received at the time! I have a quick question, but first a bit of history. 6 years ago my wife was made redundant. She was earning a great salary at the time, so we were hit quite hard. Had to make arrangements with all creditors, most of whom hit us with defaults from every angle!! We have a Together mortgage with NRAM. The secured element has always been kept up to date, but 3 years ago we made an arrangement to make reduced payments. Should have been paying £140, but been paying £40. They agreed 0% interest too. Well, life has moved on and thankfully now the defaults have started to disappear from the CRA files, and by this time next year they will all have gone. Hallelujah!! Unfortunately (if thats the right word?), NRAM didn't default us on the unsecured loan, so it shows as LATE PAYMENT on the CRA file, with arrears of £4000. I want to pay them more now, but I'm not sure of how to do it in the most cost effective way, but as importantly, I want to get the CRA file cleared up. We're currently paying £40. We should have been paying £140. I can only afford to pay £140 now, so not in a position to clear the arrears & can't imagine we will ever be. My ideas were:- Divide the total outstanding balance by the remaining term of the mortgage = £80 a month. I pay this every month, they amend the CRA file to show no arrears. Obviously they'd have to keep the interest rate at 0% for this to work. I know thats a big ask, but they'd be getting double what they are now. The alternative is I stop paying, they default me, I provide a budget planner to show I can only pay £85 a month, interest is frozen and the default disappears in 6 years. If they won't agree to my idea above, this is probably preferrable for me... Alternatively (and probably more realistically), they agree to capitalise the arrears and I repay the new balance at the original interest rate over the remaining term of the mortgage. This would be about £125 a month. I'd be happy with that too. One thing that's strange is that I'm CERTAIN we took the unsecured loan out over the same period as the mortgage, but it seems to have 10 years less to run now??!! Maybe the old grey matter isn't what it once was! Anyone any thoughts on this situation? Are they likely to agree to my 0% suggestion? Might they go for the capitalisation of arrears idea? One final word for anyone going through what we've experienced over the last few years. Don't Worry! A few years ago we thought our world was ending, sleepless nights, arguments, and lots of letters to various DCA's, solicitors etc. .. 6 years flies by, life goes on, and there IS light at the end of the tunnel. Once thing we have learned is that credit is evil, and creditors are not nice. If we haven't got the cash, we don't have it. A lesson our grandparents tried to teach us, but we knew better didn't we?
  15. I've recently found out that my partner of a year has unsecured debts amounting to around £8k. He is, apparently, in the initial stages of negotiating a DMP with stepchange, based on his income alone. As we now live together and are expecting an (unplanned) child, I am concerned about the impact this will have on us as a couple. I have asked that he track down the paperwork in the hope / expectation that we would be better or equally able to manage this ourselves. He is quite adamant that a DMP is the best way to go. From my limited understanding, it seems like it would be hanging over our heads for a long time to come - the duration of the plan + 6 years from its completion. I am new to all this, so any advice / informed opinions on the following questions would be very much appreciated: 1. Have I got that right, that a DMP will make life financially difficult for its duration AND for six years afterwards? 2. It is inevitable that we will need to move from our current home, which is a private rented tenancy in my name, within the year. We would be looking at a joint tenancy, similarly in the private rented sector. Which situation (DMP or self managed payments of all these creditors) would likely be looked on most favourably by landlords? 3. It is possible that within a few years, we would (otherwise) be in a position to apply for a mortgage, with some family help. Same question as above. 4. Given that these debts were accrued before we even knew each other, to what extent does our now being a 'household' impact on the payments creditors can demand? Would that be different with / without the step change DMP? For now, we are not named together on any official documents / bills or similar. This isn't something we've consciously avoided, we are only recently moved in together. I imagine this will become unavoidable once we have a child? Would I be well advised to avoid our becoming linked on paper, what's the legal / moral standpoint on that and what should I (not) be doing? I don't even really know what questions I should be asking at this stage, so if there's something I haven't thought of, information on that would be appreciated too. Thanks in advance to anyone who can help
  16. The following PDFs are the MOD Guidance on: Guidance notes for Service Personnel applying for a mortgage Guidance notes for Service Personnel when applying for Unsecured Credit FOI201600147_Annex_D_Guidance_Notes_for_Service_Personnel_Applying_for_a_Mortgage.pdf FOI201600147_Annex_C_Guidance_Notes_for_Service_Personnel_Applying_for_unsecured_credit.pdf
  17. I bought a car via black horse in march 2011. the amount of credit shown on th credit agreement is £5499.85 over 60 months. I VT'd due to loss of employment in jan 2013 after making £2859.89 worth of payments. The car was auctioned for £1821. My halfway payment on the agreement shows as £4611.22. so total received by BH is £4680.89 (more than the halfway payment) I am now being chased for £1203 by mackenzie hall. My question is can i include the sold price to the halfway point or is it payments only? also, they have charged me a £25 'repossession fee' i thought it was supposed to be free. I've looked but cant find the answer to question 1 anywhere. I'm hoping someone here can clear this up for me before i start contacting them. Thankyou
  18. Hello there, Im reaching out for a little bit of advice. We are going back a little bit, January 2013 to be precise when myself and my partner moved into a small property in Cornwall. We paid a £500 deposit to the landlord who confirmed that the deposit would be refunded on completion of the inspection/hand over of keys etc. Now being fairly young and nieve we weren’t aware of the DPS and just thought that the deposit was managed by the landlord and was up to them to do what they would like, that was until he refused to return our deposit. At the time we did some digging and soon found out about the DPS and that our deposit should have been helpd in a DPS within 30 days, something that they did not do – I had checked with all of the relevant deposit schemes all of whom had no information of a deposit for the property we were renting. As im sure you can appreciate, being young and understanding the legal jargon behind the DPS and being faced with court, we decided that we should just potentially leave it and move on. That said the way we were treated by the landlord has always stuck with us and we feel it’s only right to persue matters now that we are a little more clued up. The agreed duration of our tenancy was 3 months however no contract was provided or signed although we do have email traces where the landlord agrees to our conditions, and have full proof of payment of the deposit. Upon vacating there was further correspondence by email where we asked the landlord for our deposit back but then refused, stipulating that that property was left dirty (something which we dispute) and that was cause along with excessive internet charges (£80) which we were never informed of at the beginning of our tenancy. In short, would I be right in saying that the landlord by LAW regardless of how the property was left, or the duration of our tenancy, should have still placed the deposit in a DPS and that we should in-fact continue to persue matters and refund of our deposit? TIA
  19. Hi all, I have a number of unsecured debts and phone contracts that resulted from me giving up my business at the start of 2009 to take care of my parents who both have dementia. The debts were personal and not in the business name, although almost all of them were used to set up my business. I always intended to go bankrupt but due to the pressure I am under looking after both of my folks, I just never got round to it. Letters came through the door, but nobody ever knocked it and here we are 6 years later. The letters are rare. In the last few months I have only received about 2-3 letters a month. As you can tell i'm in poor state with the paperwork and uncertain. I am on carers allowance and income support and have no assets. Today I decided to check my credit report after discussing this with a friend. To my surprise Experian gave me a 'fair' and im only 40 points off a 'good', 860/999. Looking on my report I can't see any details of these debts although I do have 3 warnings on my account: You have a defaulted or delinquent account (but no accounts or amounts appear?) You have no settled non-mail order credit accounts You have opened 1 new credit account in the last 6 months (a new bank account, but doesn't have an overdraft, it's a Cashminder that I was preparing to go bankrupt with). I thought that on my report I would see a list of people chasing me and for set amounts, but that is not the case. Does it not work like that or have I overlooked it? Experian is also suggesting I am eligible for loans and cards, although the rates are sky high 25-50%. I'm not looking for a loan, but I was surprised to see it as an option. Given my situation I was looking at going bankrupt but having seen this file i'm not so sure. I do owe that tax man £2000 from the business which I could offer to pay in smaller chunks to save going bankrupt. Apologies if this is in the wrong forum but I felt that I needed to understand my report better before knowing how to proceed. Thanks in advance for your replies.
  20. Do you mind if i use this too Brigadier? I defaulted early 2008 (I don't have the actual date - Should I send an SAR?) Sorry to hijack a thread
  21. Help please! I took out a car finance agreement with Black Horse in Feb 2004. Towards the end of the agreement, I got into financial difficulty, and couldnt make the payments. I stopped making payments in 2008, the loan was over 5 years, and due to finish in 2009. I know the entry will stay on my credit file for 6 years from the start of the loan, but after the official loan term had finished, Black Horse then added a default to my credit file in May/June 2010. Are they allowed to do this? As surely after 6 years the entry should drop off my credit file so I dont see how they can then add a Default to the entry after this time has lapsed. Looking at the entry on my credit file, it doesnt even detail the loan agreement term, but its on the Agreement I had from Black Horse. I havent heard anything from Black Horse since 2008. Any advice would be much appreciated?! Thanks.
  22. I am really hoping someone can give me some advice. To explain the situation a number of years back like many others I got myself into quite a financial mess. I foolishly started a new business, and just afterwards my wife fell pregnant. This was back in 2007 just before the financial crash so timing was awful. This created a situation were paying bills was impossible. Regretfully at that time my wife had an unsecured loan with Northern Rock and this was one of the first bills that we struggled to pay. Due to none payment this meant a CCJ was placed against it, and stupidly I buried my head in the sand about it. A little later a charging order was then placed against the house. At this time we sent a letter to Northern Rock saying we disputed the amount outstanding as a large proportion of the debt was PPI. I can't remember the exact dates for any of this but after my letter we didn't hear anything for maybe 2 or 3 years until this year. The suddenly we received a letter from Marlin claiming they had taken possession of the debt. As we hadn't heard anything for so long and I had never heard of Marlin again foolishly I didn't really pay any mind to it. Now I have just received a letter from Marlin saying they are seeking to use the charging order to force sale giving me 2 weeks to respond. Attached to the letter was a valuation which has been raised from a website showing an estimated value. Now i am not sure of this is a scare tactic or how to respond to to the letter and I am quite worried. Also I am not sure how the charging order works, as the debt was an unsecured debt. Also does the potential PPI affect anything baring in mind the debt has been passed from one party to another I am not sure how this would work. I have not made a PPI claim as I took the view that since I sent a letter to Northern Rock and heard nothing back about the debt it sort of cancelled itself out (I know in hindsight that seems pretty dumb !) Also for the charging order this won't have been taken out by Marlin so would this still be valid. Just for clarity the original loan was probably taken in 2003, I would guess the payments stopped around 2007/2008 with a CCJ being raised sometime in 2008. For the charging order I am not sure. Regretfully I can't find any paperwork Thanks for reading this and I really appreciate any advice that can be given.
  23. Hi Guys, I am new here and need some advice regarding an existing delinquent loan from Natwest. Hi Guy, sorry for the short message above but i was tying to post since yesterday night and was facing problem in posting. Now i will come to the main issue. I took a loan from Natwest bank in oct 2005 and was making regular payment through instalments. I was paying them £253.38 for 28 months when i got into severe debt problems and couldn't afford to pay anymore instalments. i approached the debt advisor and she start communicating with the bank and they didn't listen but finally the bank agreed and asked me to pay them £16 a month for a short time, but that payment wasn't accepted for my loan account but for the overdraft on my current account with them. They passed the account to Robinson way for collection and put the account on delinquent status on my credit report and there is no default date, this means that i will suffering for more years then expected. In 2011, i logged a complaint to the bank for my PPI and the claim were accepted and the bank paid me £3217 and told me that they will adjust this in my loan. the loan amount was £10000 and to be repaid in 5 years time (60 months) along with PPI. my monthly instalment was 253.38. Later on i went to check the total amount of my loan left on me was again the same like the total amount wasn't decreased but still the same. i contacted the bank and they told me that they adjusted the PPI money into my current account Overdraft which is another issue and the remaining surplus money is in the closed account for the last 2 and half years without telling me that i have got surplus money in that closed account and i am suffering financially. this means they did it intentionally to keep me deprived of my money. Long story short, in my opinion that the loan i took at the time was £10,000 and i should repay back to the bank £15280.80. But after reclaiming the PPI and they paid it back to my account, so the amount of £15280.80 should be decreased to £12,000 something, because the interest was £2680 and the principal amount was £10,000. The bank refused that they paid the money back to me and i need to make the full payment of £15,280.80. I told them that this means that what you paid me, so i am going to pay it back to you - so what's the point then. Please help me correct me if i am wrong here to get to the bottom of this dilemma. Even i spoke to the Ombudsman and he told me the same thing that the money they paid me like i am paying it back to them and asked me that when i receive the letter from the bank, then i should forward it to the Ombudsman. Please help me because there is so much experienced people here. Thanks and this site is really helpful for a people like us who had been conned by the bank.
  24. Wow, it's a long time since I've been here, but now I must post, as I need some advice please. I'll try to be brief. Some years ago, OH and I went down the SAR route for a copy of an agreement on a northern rock loan. As far as I recall, the agreement was deemed 'unenforceable' as there was no cancellation clause within the body of the agreement, and the loan was arranged by internet/phone. Major change of personal circumstances, resulted in payments of £10 per month being made, rather than get into yet another 'agreement is unenforceable row' with NR. Marlin have now purchased the debt, so the SAR was re-started with them. Of course, the same agreement has been received without any cancellation clause. I'm now obviously looking for the best way forward. When Northern Rock became NRAM, there was a point when a full and final offer was made to them, after an offer of financial help from a family member, which they declined (not sure if that's relevant). Ill health and unemployment means it is unlikely that our financial situation will improve (unless a lottery win happens). I'm very out of touch with what's happened over the years, test cases, etc. and would be very grateful if someone could point me in the right direction of what to do now, please. Many thanks
  25. Hi all, Moved to NZ at end of 2008, left behind an unsecured ( credit card debt of 3.5k sterling). Need to return/visit to U.K middle of this year for family issues . Does anyone have any answers as to what I can expect when re entering the U.K? Really need some advice .thanks
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