Feeling Sick about £60K of Debts!

[fairbank]

Harvest

 

I think letting agents do make credit checks. I was asked in June this year if I would be a gurantor for the chap who committed suicide in my first ever post. I couldn't do it but did notet that they make such checks. They may not all be the same though

 

Good luck

[harvest]

Thanks for all the advice. I've found afew places on Gumtree with rooms in shared houses which I'll do first of all until I'm settled.

 

In the meantime I have a flurry of letters to make their flurrying way to creditors tomorrow.

[The GodMother]

Harvest you are welcome.

Just dont lose touch with us

 

Chrissi

[harvest]

I think I'll be here for quite some time Chrissi until I'm properly sorted out with my creditors or win the lottery!

[The GodMother]

i thnik fridays is a rollover harvest so you might win

[The GodMother]

or you may want to go for this won with the euro millions

 

On Friday 8th February it's a spectacular EuroMillions draw with a massive jackpot of £95* million that must be won, because it can't Rollover.

£95* million must be won

Play this week and get your ticket for next week at the same time, to beat the rush and be in with a chance of winning the £95* million jackpot.

[harvest]

Oh to win a share of that lovely loot!

 

I honestly think, since my troubles in the last year or so that I would approach a big lottery win in quite a different way.

 

MY brother's best friend won £195,000 on the pools ten years ago and he'd spent every penny within siz months! Still my brother and his mates accompanied him on some lavish holidays - offering to pay towards it but his friend wouldn't hear of it.

 

The lad who spent the money is a carpenter now and says he's never been happier - so there's a moral to the story there somewhere I guess.

[summer30]

I too am in a similar situation allthough lucky in that my OH is working now so can pay the HP on the bike we have.

 

We moved from the south of england in November 2006 my OH had lost his job with one weeks notice (only been there 6 months) and we had to just pack up and leave.

 

We both got jobs in the north but I was got rid of after 3 months by a screaming banshee of a boss who was going around sacking people willy nilly. There were problems and she was basically getting rid of people to make it look like she was doing something.

So having tried to get a job for 3 months I started my own business, but Im still £45k in debt from OHs previous redundancies and trying to keep us going, he is in about £80k worth, 60% of which is interest and charges.

 

Neither of us wish to go bankrupt, we have no house and at present pay most creditors between £1-12 a month and this has been going on for 2 years now. Our credit history is ruined but its been an insight on how to live with no credit.

We are managing and after trying to be forced on an unmanageable IVA we decided to go it alone.

There is hope but it couldnt be done without the likes of this forum and the people on it.

 

 

Just wondering if you only have one more payment on the car? could you sell something to cover it? or Ive even been told your allowed to sell a vehicle if you pay off the loan with it.

[harvest]

Quick Update:

 

1. Found somewhere to live where the new job is based

 

2. Had my contract through and all seems in order.

 

3. Starting work on Monday morning

 

4. Have finished off my other work and invoiced so a few grand will be paid at the beginning / middle of March.

 

5. Have written to all the creditors offering managable / realistic monthly payments and await their response.

 

That's it - As I said to fairbank in his thread, things can change overnight and while I am still incredibly worried about my situation in terms of debt I have at least been given a lift onto the first rung of the ladder in order to start paying the debt off and will have money for food etc while I'm doing this.

[andrew1]

Harvest, you just keep looking at that second step of the ladder. You have done brilliantly. One by one these CCA letters will start to pay dividends and the pressure will ease, don't lose the momentum, even with a new job..it ain't over till the fat lady sings and the last debt cleaned off the slate, we'll work you through them all, one by one.

 

Enjoy your new job, don't take your woe's into the new workplace, you can share all those with us, just have a good time and live again.

 

Well done.

 

 

Sarah

[Goldlady]

Harvest the next thing you will need to worry about is - 'Oh dear, I have made some money and I might owe some tax!!!' It is the transition from being in the pits of despair to suddenly doing OK all of a sudden. Good feeling though. I know where I would rather be.

[The GodMother]

Well done harvest. It looks like you are on the up. I am glad to hear everything is going fine for you and hope it may continue.

 

Let us no how things go.

 

Chrissi

[harvest]

Thanks Sarah, Goldlady and Godmother.

 

A quick update on my dealings with creditors. I've just produced letters to all of them offering pro-rata payments that I can manage from my new salary starting 1st March.

 

I have had three properly executed agreements in response to CCA letter requests.

 

I have now had five default notices.

 

I told each creditor that I had been advised to file for bankruptcy (was the original advice from debt counsellors) and that should all of my creditors not be willing to act reasonably and accept my pro-rata payments, freeze interest and deduct unfair charges on the accounts then that would be the route I'd take.

 

I informed them that I had no assets to speak of and that I was trying to fulfil my obligations to the debts but that they must be reasonable too.

 

I've calculated that if they all accept and I meet the payments each month I could be debt free in 6 years approximately.

 

Obviously if I get a better job at some point or a pay rise I will increase the payments. I just hope they are reasonable in their replies.

 

I am just about to set off for my new job in a new city - staying with friends this week until I move into new rented accommodation next Saturday. It's exciting, frightening and a relief all wrapped up in one.

 

I won't have access to my PC this week so won't be posting but will update next Saturday when I have news on the job and the creditors' replies.

 

Thank you all for your continued support.

[Goldlady]

The very best of luck Harvest.

[empowered]

Good luck with this new phase of your life Harvest - keep us updated next weekend:p

[andrew1]

Brilliant Harvest. Now always remember that if you were to get a little bit of cash you might like to try and ask if each or any of your creditors will accept a full and final settlement in exchange for a one-off payment. You can start by offering just 10% of the debt as that is what they would sell it to a Debt collection agency for. wait until you have some spare cash (don't worry - that moment WILL come) and try it on one of them. You don't have to worry if they refuse as you can just carry on as you are but by the time you find your way forward your position will improve and enable you to do this. To some creditors, even now, cash of 10 or 20% is better than nothing and they will listen. If you get some cash, just tell them someone has offered to save you all the stress and clear some of your debt but it's a 'one off opportunity for them to consider your offer. I've done it so I know it works and timing at present is quite good as the banks are desperate for cash. You'll be surprised at some of the responses you get.

 

 

Anyway, good luck. If you want help negotiating we can show you the way.

 

 

Sarah;)

[fairbank]

Hope you had a good first week in your new job

[harvest]

Well - this is the first chance I've had to post since starting my new job on 4th Feb.

 

Here's my update:

 

Finally paid off car loan

 

One of my creditors must have sold my debt to a DCA - Mercers - anyone heard of them?

 

They have somehow found my stepdad's home number and ring him constantly. Although he lives in a council house they have threatened him with repossession! Apparently they said

 

"your stepson must have sold the house to you so we can't get at it. We're going to ring you every day until you tell us his new address so we can seize his possessions."

 

I have written to all my creditors - none of them are accepting my offers of payment - all done pro-rata in line with scale of each debt.

 

So I don't know what to do about this - just make the payments when I get paid at the end of each month?

 

I have avoided all phonecalls because they ring my mobile an average of 7 times each (x 9 creditors) everyday.

 

I hope everyone else is okay and his making progress.

[andrew1]

Harvest, welcome back - hope job's going okay.

 

Write again to all those creditors and ask them, given the circumstances you are in what offer would be acceptable to them - at least you can cherry pick the responses, don't give up keep trying cos everyone has their price...

 

Mercers need a very stiff letter from your stepdad enclosing a copy of this: http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

 

Before you send it highlight in colour any areas you feel they have breached, don't sign it, but state that if you get one more phone call he'll throw the full force of the law at them and include the right to demand no telephone calls as per the Communications Act 2003.

 

 

They are just another dross dca.

 

gotta run, but good luck and good to see the cars paid off.. well done.

[The GodMother]

just pay them what you can afford. They love the token payments but will write to you tell you they are not enough but they wont send you the payments back.

 

At the end of the month write to every DCA about the payments including first payment if they cash the payment but then tell you it is not enough and try and take you to court then they are screwed as the judge or you may/ will ask you if the token payments are not enough then did they cash the first payment and carry on excepting the rest?

 

Would love to see them wriggle out of that one.

 

Glad the job is going ok.

 

Chrissi

[andrew1]

 

HI all. Please be aware that as from middle of may l may not be about much and may not be able to update my threads as quickly. This is because my baby, which they think is a girl, is due within the first 10 days of June.

 

 

Hey congratulations Chrissi, wonderful news..

[PriorityOne]

Mercer's are the in-house monkeys for Barclaycard. What normally happens is that Barclaycard ignore all letters/offers of payment and try and get you on the 'phone for more money. I hung up for approx. 3 months. They then pass it to Mercers, who try much the same thing. Once Mercer's have received a bog off letter though, they normally do bog off... at least they have with me.

 

Once they realise that you know that they shouldn't have been discussing your account with your step-dad, I suspect they will need a multi-pack of Andrex in order to clean up their own mess.

 

Send by rec. delivery and keep a copy.

 

BTW, fantastic news about the car loan, Harvest !! Well done !!

 

[robcag]

Mercer's are the in-house monkeys for Barclaycard. What normally happens is that Barclaycard ignore all letters/offers of payment and try and get you on the 'phone for more money. I hung up for approx. 3 months. They then pass it to Mercers, who try much the same thing. Once Mercer's have received a bog off letter though, they normally do bog off... at least they have with me.

 

Hi P1

 

I agree with you there! About a year ago (before I discovered CAG) I was getting endless phonecalls to my landline from (mainly) Merciless, so much so that I was leaving the phone off-hook during the day for about 2-3 months.

 

Luckily I also have some VoIP numbers which I was able to give to friends etc. so they could still get through on a normal geographical number (these can be obtained FoC from companies such as Sipgate).

 

Nowadays, having found CAG (and getting Barclaycard to accept token payments) I can once again use the normal landline number and no longer have DCAs calling me.

 

Rob

[harvest]

Evening all

 

Just a quick update:

 

1. I'm exhausted - working long hours etc so apologies for not keeping my thread up to date.

 

2. I'm going to ask the administrators why my thread's been moved to this part of the debt forum - it should be in general really and it's difficult to find here.

 

3. Some of my creditors are being complete bankers and will not accept my reasonable offers of payment - I've nevertheless sent the payment anyway (which they're still cashing).

 

4. First Direct have started to be reasonable and will send me a new agreement, reducing interest etc and getting rid of £800 worth of the debt. This will be reviewed in 12 months.

 

5. I have sent Mercers a letter together with my monthly payment which I've copied to OFT, FSA, Trading Standards and the Information Commissioner about their harrassment of my step dad by phone.

 

That's about it - hope you're all well and making progress.

 

Harvest x:)

[The GodMother]

hi harvest.

 

dont worry about keeping us updated as we say no news is good news.

 

Anyway

 

the complete bankers are doing as expected. Let them try and take u to court if necessary and then watch them wriggle at the difficult question.

 

Judge or yourself:- If the payments that Harvest was paying you was not enough then why were you cashing them and crediting the to harvests account?

 

banker:- well well erm erm we were hoping harvest would up the payment. This was better than no payment. Dont know your honour. Cause we are greedy ppl who dont care about Harvests problems and just want our money.

 

Judge:- payments set at amount harvest is paying each month.

 

Harvest to banker:- you should have accepted my token payments.

 

glad first direct are being reasonable and they have deducted £800.00 well that is good. Maybe you still need a different bank acc tho. as you can pay them off easier.

 

Now about mercers. Glad you have kicked there but they needed kicking.

Have you informaed them that you have gone to the OFT, FSA, TS, ICO about the harassement. If you have not then dont worry they will find out soon enough.

 

Just remember to charge them comp on your dads behalf.

 

Glad the job is going well.

 

Chrissi