Paid debts now no money

[courageandstrength]

Please help.......

 

At christmas 2009, i borrowed some money from a doorstep lender.It started out at £1125, i fell behind as i couldnt afford the £100 some weeks. so in order to catch up i agreed to borrow 4 more to cover the 1st one, then the next, then it became a vicious circle......it begain to grind me down and as i was missing the payments the interest was increasing.....in order to cope with the stress i resulted to anti-depressants.

 

I couldnt cope with the debt an took an overdose last year and then a fatal 2nd one shortly after due to him becoming vicious and threatening if i didnt start paying back! I fled from domestic violence from my last place but he found me some how (maybe on the electoral role), he was not happy. he said i must sell my home or i will burnt inside it, gave me 3 months and agreed on a final settlement of £25k (thats the interest and admin fee for the contract he had drawn up back in 2009 but i lost it when i fled from the domestic violence).

 

Through fear and intimidation, i paid him with 3 weekly withdrawals of £8300. i am so scared, i am on sedatives, i cant work,cant sleep,depressed and I have about £1000 left and i am so scared i am going to have no money for food or heating once i pay my landlord next week.....will i be entitled to a crisis loan to help with my rent?

[id6052]

To the best of my knowledge, anybody can apply for a crisis loan, whether you will actually receive one will depend upon your individual circumstances.

 

There are so many issues highlighted in your message that you require assistance with.

 

If the lender threatened and intimidated you and was demanding money with menaces, you should contact the police about the matter.

 

The amount that your loans increased from £1125 up to £25k sounds outrageous, you should speak to somebody about that, for example citizens advice/oft/trading standards

 

Also if you are on a low income, you may be able to claim housing benefit to help with your rent

 

Also if you are feeling so low that you are considering harming yourself in any way, you should also seek professional medical help

[honeybee13]

Hello there. This sounds terrible for you. I agree with ID, you should tell the police and whoever else you can speak to.

 

I've asked the site team to take a look, in case there's another forum where you can ask about the loan shark part of your problem.

 

My best, HB

[rebel11]

Hi courage

 

Unforetunately there isn't 'loan shark' forum, but the way many creditor's and dca's act you would think the whole site is about 'loan sharks'.

 

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10035958

http://www.oft.gov.uk/OFTwork/consumer-protection/campaign11-12/loan-sharks/

[Nystagmite]

Are you receiving any other benefits?

[courageandstrength]

i am too scared to involve the police. i recieve no other benefits.

[honeybee13]

I just looked at the site rebel posted and you can report people anonymously. I know it doesn't solve your financial problems. What about Trading Standards though?

 

My best, HB

[rebel11]

Hi Courage

 

Apply for a Crisis Loan and see what they say. Also pay CAB a visit they will provide further support.

[jdes26]

This is outrageous !!!!

Go to police now!!!!!!

[courageandstrength]

I just looked at the site rebel posted and you can report people anonymously. I know it doesn't solve your financial problems. What about Trading Standards though?

 

 

My best, HB[/quote

 

i live in fear! if they track him i may get harmed! he never did give a company name....since i paid i havent heard anything.

[courageandstrength]

Hi Courage

 

Apply for a Crisis Loan and see what they say. Also pay CAB a visit they will provide further support.

 

will they not ask how i got into this situation? i feel so ashamed and worthless....

[Nystagmite]

Whilst they may ask, they won't judge you.

[courageandstrength]

This is outrageous !!!!

Go to police now!!!!!!

 

i am still mentally fragile. i just dont know what i am going to do from here. doubt i will get help, i will be evicted...another nail in the coffin

[rebel11]

You shouldn't have to live in fear, whats to stop the lowlife saying you haven't paid him back, go to the police, they are duty bound to protect you.

 

I just looked at the site rebel posted and you can report people anonymously. I know it doesn't solve your financial problems. What about Trading Standards though?

 

 

My best, HB[/quote

 

i live in fear! if they track him i may get harmed! he never did give a company name....since i paid i havent heard anything.

[courageandstrength]

Whilst they may ask, they won't judge you.

 

after i pay my rent in 2 weeks, i wil have £300 left, no job,nothing!

[courageandstrength]

You shouldn't have to live in fear, whats to stop the lowlife saying you haven't paid him back, go to the police, they are duty bound to protect you.

 

 

he found me before and he will find me again! he even used to turn up at my childrens school at home time to collect his money if i missed one payment.

[rebel11]

Get this sorted first:-

 

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/On_a_low_income/DG_10018856

http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_4017683

 

You can do it online.

[watchinginvestigation2011]

Reminds me of a man who I borrowed 100.00 from some years ago. They kept the paying book till the loan was paid off they said.

Called for ages saying I still owed on the loan till I say down and worked out nearly two years of 10.50 a week way over paid back 100.00 with 40.00 supposed interest.

 

I just kept believing I owed them money, partly due to my memory, mainly due to them playing on it and being I now realise a loan shark.

 

After a few months they appeared again and I asked for the book as said I had at least paid them 1000.00 and planned to ring the police, they left with the book and I never saw them again.

 

Though I appreciate not all are so easy to stop their racket.

 

Thing is you have to go to the police as your situation is far worse than mine and this person has to be stopped.

 

We dont know their names most of the time due to simple fact they dont give them or just a first name. On my estate which is fairly targetted you can almost smell them, they call a couple of months prior to xmas, in a bashed up transit, they either try to flog carpet at inflated prices with high interest and then move onto loans, or they ask do you want to borrow 100.00, knowing people will likely progress to higher loans. They dont like the provvy get you to fill offcial application, so from that I now wiser can id they are sharks.

 

But i tell you year on year they call door to door and do the same thing with just a first name as a contact !!!!!!

 

Even I have to add the provident try to force 250.00 down your throat I posted some time ago and find the word no hard to accept, with repeated calls and cards put through the door.

 

I say this if the loan is not legit, get police to help and do not repay a penny. Thats how I get them to pee off so quickly now. The provident last time said you surely would like some money to treat yourself etc....along that lines, even waving it about in the air up and down this old man did, I said okay you have convinced me, you give me 250.00 and i promise to bugger off and not repay it.

 

Their faces soon drop and they dont persue the issue till the next time that is

[taraquin]

 

At christmas 2009, i borrowed £1125, I fell behind as i couldnt afford

the £100 some weeks. so in order to catch up I agreed to borrow 4 more to

cover the 1st one.

 

 

 

gave me 3 months and agreed on a final settlement of £25k.

 

 

 

i paid him with 3 weekly withdrawals of £8300. i cant work, and I have

about £1000 left. Will I be entitled to a crisis loan to help with my

rent?

 

 

I am totally confused! Firstly I don't agree with how this individual has dealt with the matter. As for the increase up to £25,000, I have heard this many times before and know how these people operate - I have an acquaintance that earns his money this way in Manchester.

 

But the bit that confuses me is that in December 2009 you had no money so borrowed £1125. You paid some of the £100 weekly repayments and then borrowed some more to top up and restructure. All of that is normal practice for this type of lender.

 

Then recently you have paid him 3 weekly payments of £8300 each, can't work are sick AND you still have £1000 left.

 

If you had £25,900, where did this come from? Have you borrowed more money?

Are you on benefits? If so, are the DWP aware that you had access to this level of funding?

 

You seem to have gone from having nothing in December 2009 (hence the first loan) to having close to £26,000 recently.

 

If you haven't borrowed this £25900, and you have repaid your debt (as your heading suggests), have £1000 of capital, what are you living on now?

[MrHistory]

These people will help,

 

http://www.birmingham.gov.uk/cs/Satellite?c=Page&childpagename=Trading-Standards%2FPageLayout&cid=1223092622738&pagename=BCC%2FCommon%2FWrapper%2FWrapper

[Nystagmite]

after i pay my rent in 2 weeks, i wil have £300 left, no job,nothing!

 

You may be entitled to some benefits due to low income. CAB could advise you on this.

[taraquin]

These people will help,

 

http://www.birmingham.gov.uk/cs/Satellite?c=Page&childpagename=Trading-Standards%2FPageLayout&cid=1223092622738&pagename=BCC%2FCommon%2FWrapper%2FWrapper

 

That's a good scheme. But the OP has already paid back the £25,000 -

i paid him with 3 weekly withdrawals of £8300

 

I realise that the lender can still be prosecuted, but unfortunately the damage has been done - the OP won't see any of the £25,000 that they have paid back!

Of course report it, but I would also say that it is a lesson that the OP won't borrow like this again in a hurry!

[taraquin]

Agreed, but don't you think that the DWP would be interested in knowing how the OP has paid £25,000 to repay a debt within the past three weeks?

To me there would be questions of a possible deprivation involved.

[courageandstrength]

I am totally confused! Firstly I don't agree with how this individual has dealt with the matter. As for the increase up to £25,000, I have heard this many times before and know how these people operate - I have an acquaintance that earns his money this way in Manchester.

 

But the bit that confuses me is that in December 2009 you had no money so borrowed £1125. You paid some of the £100 weekly repayments and then borrowed some more to top up and restructure. All of that is normal practice for this type of lender.

 

Then recently you have paid him 3 weekly payments of £8300 each, can't work are sick AND you still have £1000 left.

 

If you had £25,900, where did this come from? Have you borrowed more money?

Are you on benefits? If so, are the DWP aware that you had access to this level of funding?

 

You seem to have gone from having nothing in December 2009 (hence the first loan) to having close to £26,000 recently.

 

If you haven't borrowed this £25900, and you have repaid your debt (as your heading suggests), have £1000 of capital, what are you living on now?

 

I stated in my original posting how this came about.....

 

"he was not happy. he said i must sell my home or i will burnt inside it, gave me 3 months and agreed on a final settlement of £25k"

 

I was on benefit before and borrowed the money, then had to sell my home to pay him the final settlement in order to leave me alone and stop death threats....he posed as a relative at the hospital when i was in for 10 days when i took a fatal overdose and warned me i better "pay him off with my house", i was too scared to tell authorites but had to stop benefits becuase i informed them of selling house but i am scared to ask them for help again.....

 

i just dont know how i am going to pay my rent or food.......

[taraquin]

I stated in my original posting how this came about.....

 

"he was not happy. he said i must sell my home or i will burnt inside it, gave me 3 months and agreed on a final settlement of £25k"

 

I was on benefit before and borrowed the money, then had to sell my home to pay him the final settlement in order to leave me alone and stop death threats....he posed as a relative at the hospital when i was in for 10 days when i took a fatal overdose and warned me i better "pay him off with my house", i was too scared to tell authorites but had to stop benefits becuase i informed them of selling house but i am scared to ask them for help again.....

 

i just dont know how i am going to pay my rent or food.......

 

Right - that makes it much clearer. You are certainly entiled to apply for help due to having no income, but I would imagine the DWP will want a full explanation of how you have managed to get rid of over £25000 out of the sale of the house.

 

Worst case scenario - the DWP will treat you as though you still have it even though you don't!