I am in huge debt and I dont know what to do.

[gavroni]

PLEASE SOMEONE HELP ME

 

I have a large amount of debt wich I have not paid since 2008.

These include utilities bills, council tax, credit cards, bank loan and bank overdraft.

Before you ask why it took so long for me to tackle these I've had a real bad time - no excuses! but I want to sort it all out and have my life back again, so please please someone please help me as I dont even know how to start.

Edited January 27, 2012 by gavroni

[BankFodder]

How much?

[BRIGADIER2JCS]

PLEASE SOMEONE HELP ME

 

I have a large amount of debt wich I have not paid since 2008.

These include utilities bills, council tax, credit cards, bank loan and bank overdraft.

Before you ask why it took so long for me to tackle these I've had a real bad time - no excuses! but I want to sort it all out and have my life back again, so please please someone please help me as I dont even know how to start.

Hi Welcome,

Check you credit reference files to see what the status of each debt is.

Then list the debts by priority debt council tax etc., that carry serious consequeces for non payment.

Rent

Food

utility bills

all the rest are not a major priority

and if it is ll you can afford £1 per month.

 

Add them all up and set the figures against your income.

You will find it easier to manage if you set up a separate

file for each debt.

[gavroni]

Thank you for replying.

Do you recommend any agency in particular? Or any experian/credit expert will do?

[BRIGADIER2JCS]

Thank you for replying.

Do you recommend any agency in particular? Or any experian/credit expert will do?

 

Personally I would check both as data can vary, use their

free 30 day trials.

[citizenB]

You might want to have a read of the following and then perhaps give National Debtline a call..

 

The following has recently been brought to my attention and could prove very useful. Especially now the OFT guidance specifically states it's an Unfair practice to ignore a cashflow budget!

If you are experiencing difficulty in repaying your debts, CASHflow is a way for you to negotiate affordable repayments with your creditors. Before you can use CASHflow, you must have spoken to one of the free advice agencies licensed to offer CASHflow to their clients. The advice agency will start by talking to you about all of the options available, and can help you to decide if CASHflow is the right one for you.

 

If you decide to use CASHflow, you will be provided with all of the tools you need to be able to complete your own financial statement and negotiate offers of repayment with creditors yourself. This will enable you to stay in control of your situation, but still have support from an adviser at any stage if you need it.

 

You can contact a local advice agency to check if they offer CASHflow. You can find a list of free advice agencies that are near to you by searching for a money adviser in England or Wales, Scotland, or Northern Ireland.

Alternatively, you can call National Debtline on 0808 808 4000

CASHflow: http://www.cashflow.uk.net/

National Debtline: http://www.nationaldebtline.co.uk/

https://www.mymoneysteps.org/

xx

[gavroni]

Ok - Ive filled in the forms (downloaded from their website) all ready to post tomorrow. Will let know when I get the stat report back (about 7 days). It should be safe to sign and send them right? I am sending to three agencies: Equifax, Callcredit and Experian.

Brigadier What are your thoughts about cashflow mentioned here?

[gavroni]

Just want to share this with you all. I am still waiting for the credit reports to come back to me, they should be here next week. However before I decided to request the reports via post I tried to get them online from Experian, Callcredit and Equifax. Experian asked for a monthly fee (I was already registered), Equifax didnt find me online and CallCRedit just one more to check against.

Meanwhile I received today an e-mail from Lowell Group demanding payment £589,78. I have not received any e-mails from them nor from any other debt collection agencies in the past.

Does that mean they are passing people's details onwards? Is that legal? How do you guys fell about that?

[havinastella]

Just want to share this with you all. I am still waiting for the credit reports to come back to me, they should be here next week. However before I decided to request the reports via post I tried to get them online from Experian, Callcredit and Equifax. Experian asked for a monthly fee (I was already registered), Equifax didnt find me online and CallCRedit just one more to check against.

Meanwhile I received today an e-mail from Lowell Group demanding payment £589,78. I have not received any e-mails from them nor from any other debt collection agencies in the past.

Does that mean they are passing people's details onwards? Is that legal? How do you guys fell about that?

 

 

Yes, unfortunately they are insidious.

 

Jogs

[gavroni]

Oh I am now very worried as they have my signature in the request form I sent to them. If they sell on details they are capable of any tacts in order to intimidate people, one thinks.

[stu007]

Hi gavroni

 

Lowell is a Debt Purchase Company so they have bought the debt.

 

Lowell Group is a debt purchase company. We purchase customer accounts from various creditors –including credit cards, loans, store finance, current accounts, home shopping and mobile communication –and then work with each customer to build realistic and affordable repayment plans. The sale of an account is usually done when the client has exhausted their own collections procedures, which often includes the appointment of external collection agents, without success.

[gavroni]

Ok - got two replies back today:

- CallCredit will not give me the credit report unless I send them two form of ID originals i.e. council tax demand, bank statement, etc. Is this right?

- Experian credit report is back. What do I look for? What next?

[BRIGADIER2JCS]

Check the entries each account shows the ''history''

of the account, the report shows default dates and

start dates, indictors of the truage of the debt.

Check previous searches to see if any DCAs are

looking for you.

[rebel11]

Hi gav

 

Have you been mis-sold PPI or have you got Penalty Charges on your accounts that you could claim back with interest, these can be claimed back over 6 years plus. I'd set up a folder sectioned off with each creditor, that will get you organised ready to tackle the debts. Have a read of 1,2,3,7 and 8 in my signature.

 

Thread moved to correct forum.