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My story - just the basics for now. Help


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I owe about £64,000 (one unsecured loan and the rest on credit cards). I haven't paid a penny back for 4 years.

 

How did I run up £64,000? Truthfully I don't know - it just sort of happened over 6 years. It started with one credit card and snowballed. I thought I was in control but it just escalated. Lost my job, had to take a lower paid one - started borrowing to pay back, etc.

 

I should have went bankrupt 4 years ago. The stress has been a nightmare. I've put on weight/become a borderline alcoholic/a nervous wreck jumping when the doorbell rings or letters arrive.

 

Ah! The letters! My strategy was ignoring the calls and letters.

 

Thats all - just ignoring them all. It's sort of worked I suppose - I only get one every two months now. I never open them, just put them in the bin.

 

It wasn't worth my health - I should have went bankrupt.

 

I'm hoping the six-year thing works for me.

 

Will it?

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Hi vecko - and welcome to CAG. You're now amongst non-judgemental friends.

 

As you must know if you've read around our forums, we do not advocate debt avoidance, but we are here to help you take control of your debts and to ensure that you only pay all and only what you owe.

 

What you need to do is to start telling us more about what you owe and to whom. We can help you fight unfair charges and help you to sort out payments you can afford.

 

Whatever - post again and tell us your story and we'll help as best you can.

 

HC :)

Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.

 

If I've been helpful, please click my scales. :-)

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Dear Veco

 

Personally I would not rely on waiting until you can claim the debts are statutory barred, they can still chase you for these. I am surprised that they have not tried to issue you with a summons/CCJ etc?

 

Have all these debts been transferred to DCA's?

 

This site is full of cases similar to your own and it will take you a few days to read through all the cases that will allow you to understand your options and then post more information and get advice.

 

If you are able to post more details you will get more relevant advice, you will also open a can of worms with this question which I am sure has been covered previously.

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Dear Veco

 

Personally I would not rely on waiting until you can claim the debts are statutory barred, they can still chase you for these. I am surprised that they have not tried to issue you with a summons/CCJ etc?

 

Just one point, Monty - they can chase - but they can't enforce.

 

However, I would not leave it till that stage either.

Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.

 

If I've been helpful, please click my scales. :-)

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Subscribing, good luck!!

 

Newborn

Beaten:

RBS: £4,500

AMEX: £4,200

Barclaycard Visa: £12,100

Barclaycard M/Card: £12,600

(Including the numerous DCAs they have set on me.)

PPI reclaims (into my bank account): £25,000

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  • 4 weeks later...

Thanks for the help so far.

 

I know you say you don't advocate non-payment and thats fine with me. However, I don't have any money to service this £64,000 debt. I don't think a few quid every month will be acceptable to them.

 

I'm still getting the odd letter, and still not opening them. One of the DCAs is quite persistant (don't know the name as I don't open the letter but the return address is PO Box 444, Kent).

 

I have a few more points to put out there:-

 

What's in it for the DCAs if I went/or go bankrupt?

I'm assuming most of this debt has been written off by my creditors. Is this a correct assumption? After all, banks write off billions a year in bad debt!

Is the DCA is just fishing for anything it can get?

Do DCAs actually purchase the debt from banks/credit card companies, or do they just pay a % if they collect anything.

I don't own property/have any assests. Again, I'm not worried now about losing anything because I don't have anything - just my average salary from my unskilled job.

What is a CCJ? What's in it for them?

 

Following on from my previous post I should be honest and add I was suicidal at one stage over this (about three years ago).

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I owe a lot and have done for over 4 years.

I haven't paid a penny back because I haven't got any money

- just my salary from my unskilled job.

 

Could I have been CCJ'd/make bankrupt without my knowledge?

 

Could there be arrest warrants out for me?

I've moved home and job several times.

 

Occasionally I get a letter or two from DCAs which I don't open - just bin or return it.

(current one is PO Box 444, Kent, I get these from a previous address).

 

I had a bit of a breakdown over my massive debt and put my head in the sand!

What's in for the DCA/creditor if I go bankrupt?

I know you don't advocate avoiding debt - but I can't pay anything.

Will I still be liable after the 6 year?

And how will I know?

Help

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Its Up To You But I Would Not Go For Avoidence

Plenty Of People Hear To Help

Believe Me I Was In Your Shoes Before I Found Cag And Now Feel Like I Am In Controll

If Possible List Your Creditors And Rough Ammounts Outstanding And Will See What We Can Do

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heyyy don't worry the guys on here are great. Lots of support. This website has changed me in a week - I suddenly feel more positive and in control, and I haven't done much yet! Someone will be along to help you soon :)

Let's hear your story (as postggj said) - explain what has happened and where each debt is at.

 

Mini x

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I've seen them all off. Over the past 4 years they've all found my new addresses somehow and started with their harrassment. I owe over £60K - long story how it happened, I was an upstanding citizen who got into trouble. I had cards and loans for years, making regular payments over 20 years before I got into trouble.

 

I wish I'd found this site earlier.

 

My tactics were simple - just ignore them. Eventually they all go away. Honestly. They are more more interested in recent debtors they can bully/harrass.

 

I have no money and no assets so obviously my situation is different than many on here. (they can have a pound of flesh as long as they don't take a drop of blood!).

 

I know the moderators don't like it - but if you can't pay or have low income just ignore them...

 

I've had the sleepless nights too, stress, the lot. Hang in there!

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I have to be honest, it's not something I'd do now, although I've done it in the past, they didn't go away for me :)

 

Now I've found this forum and I'm starting to learn a little about my rights, I feel so much better anyway about dealing with DCAs as I know what they can and can't do.

Mr & Mrs Ananya's story so far -

Welcome Finance - account closed - no CCA - 02/07 - £1500

NatWest - settled in full 09/06 - £600

NatWest - settled in full 06/07 - £72

Verso - Settled in full 07/08 - £2002

C.K. Edrupt/Provident - account closed - no CCA - 04/07 - £640

Littlewoods/Shop Direct - 2 accounts closed - Statute Barred - 04/10 - £800

D.C.A.s who've given up so far -10

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Hmm, I'm not sure this is the best advice for everyone on this site....

 

Sometimes it's better to face up to your debt problems and tackle them face to face, ignoring them just means they drag on needlessly. There is usually a solution in my experience :)

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While this approach can work for a while it isn't guaranteed or even recommended.

 

First NEVER talk to these "people" on the phone as they will try and get you to agree to anything.

 

Before you even think about making any sort of acknowledgement or payment to a DCA you MUST ensure that they have the LEGAL right to collect the debt.

This is achieved by requesting a copy of the Signed, Executed Credit Agreement via a Consumer Credit Act (CCA) request.

There is a template letter to be found here: http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

Letter N.

Is it important to start the letter:

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY in Big Bold letters.

 

It is best to send this request via recorded/special delivery as there are some important deadlines to observe.

 

After 12 WORKING days the "debt" is in default and stays that way until the request is complied with.

If a FURTHER month passes then the DCA has committed a summary criminal offence and the matter should be referred to Trading Standards for action once the DCA continues to demand payment.

 

I hope this clarifies some things.

 

Going toe to toe with a DCA CAN be fun and rewarding and I speak from experience.

My last count is;

 

DCA's - 0

CB - 18 (inc 3 solicitors) !!!

Be VERY careful whose advice you listen too

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I have to admit since I learnt about CCA requests, I've sent out 5 and actually look forward to what the post brings me each day :)

Mr & Mrs Ananya's story so far -

Welcome Finance - account closed - no CCA - 02/07 - £1500

NatWest - settled in full 09/06 - £600

NatWest - settled in full 06/07 - £72

Verso - Settled in full 07/08 - £2002

C.K. Edrupt/Provident - account closed - no CCA - 04/07 - £640

Littlewoods/Shop Direct - 2 accounts closed - Statute Barred - 04/10 - £800

D.C.A.s who've given up so far -10

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  • 5 months later...

Hi All

 

Got a half day off work! Yippee! Got home looking forward to weekend with my meagre pay cheque... and BOOM!!! 2 nasty letters from the usual **** bags to bring back all the bad memories.

 

Do DCA's send out their letters to arrive on Fridays/pay day?

How sad are these people?

 

P.S. Both letters straight in bin.

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DCAs seem to send letters to arrive on Fridays or Saturday when most Citizens Advice Office as well as Trading Standards are closed. This is a cynical ploy to get you to panic and ring them. Fortunately the internet never sleeps and CAG is always here

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  • 11 months later...

HiI've moved a few times and a DCA has caught up with me, asking for 15K within seven days (hahaha). I owe and have been chased for about 50K over the past 5/6 years. Probably statute barred but not sure if its over 6 years yet. If its not 6 years yet and I acknowledge them... what would that mean? I thought (hoped) that they wrote this off. Do they ever write off debts? Why don't they concentrate on new debtors?I can probably expect a barrage of mail over the next few months. I would like to get this over & done with. If I use some templates here and use a lawyer to write to them on my behalf...is this a good idea?Are they fishing because maybe they know the 6 years is up or near to?How strong is the 6 year rule? Anyone got experience of it via a magistrate/judge?P.S. I should have went bankrupt years ago when they first chasing me, you can't imagine the problems I've been through over this.

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If no payment or written acknowledgement of a debt is made for a period of six years a debt becomes Statute Barred (5 years in Scotland).

 

However if they have acquired a CCJ it will never become Statute Barred, but if they don't enforce the order within a period of six years they will have to reapply to the court for permission to pursue & they would have to show good reason.

 

You can check online to see if there is a CCJ against you, but it will cost £8 CCJs, court orders & fines - Search yourself and others - Trust Online If there isn't one you can send the debt collector a 'prove it' letter; http://www.consumerforums.com/resources/templates-library/86-debt-collectors/573-general-debt-letter-if-you-know-nothing-of-the-debt followed by a CCA request http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter followed by a SAR to the original creditor http://www.consumerforums.com/resources/templates-library/86-debt-collectors/576-subject-access-request-debt-a-dca all of which will add several weeks/months onto the timeline.

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