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massive jump in size of debt


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A while ago i came here for some advice thanks all, have had loads of problems with the companies but last three months have had a plan agreed and have been clearing debt slowly.

While i have been paying back the temporary agreement have been getting texts at 0415 every sunday morning to say i have not made payment etc when i have. I have learnt to deal with this. This week i have had to talk with them again as 3 month period was ending, i have stated that i will carry on paying what i have been paying for 4 weeks and will renegotiate after that time if the texts stop at the stupid time, i cant switch my phone off my daughter sometimes works late!

They cant guarantee or come to a new agreement so i will carry on with my small payments.

My biggest problem is the debt has jumped alot

Date: 29/07/2012 Debt GBP 2848

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

GBP 72

 

Repayments todate GBP 107.38

Total GBP 3604.62

Date: 24/07/2012 Debt GBP 2200

Missed Payment Fee 1 (day 29) GBP 10

Missed Payment Fee 2 (day 43) GBP 10

NDR Accept Case File GBP 200

Solicitors - Instructed GBP 150

Missed Payment Fee 3 (day 56) GBP 10

Closing Amount Discount GBP 57.62

 

Repayments todate GBP 102.38

Total GBP 2420

Can anyone advise because even though i have limited knowledge this is seriously wrong

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How much was your original loan plus interest? and is this toothfairy or speed credit by any chance?

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Theyve added unfair charges and theyve seen you as a cash cow. Those charges are unenforceable and classed as unfair under OFT guidance on debt collection.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I have paid back just over 100 and will keep going till i clear original loan plus a guess at interest, have told them all i will be paying is that but they keep changing the amount just cant get my head around a 1200 jump in a few days

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They do it to everyone. It's one of the main reasons they are under investigation atm, and why the DMP provider CCCS is not paying any money to them, and indeed is advising people on plans with them to withhold payment.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I have had this debt for over a year so would explain that they are going to get nasty again after going quiet, got told doorstep collectors would be coming, i said that they didnt have my permission so if they do turn up will be told to go away , exactly the same as last year.

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I hope you are reporting them to the regulators. Just make sure you are sending offers of repayment to them. Once a week by recorded delivery, or email cc'd to yourself is enough. This proves to a court you arent trying to escape the debt, but simply want more time to repay without them adding on tons of unfair charges.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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have proof of my agreement for 3 prev months, but dont have a new agreement stated on phone i will carry on paying , will send an email and print screen stating will carry on

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Phone calls are completely worthless unless you can record the call. Pdl's will say and do anything to get you to agree to their terms or get your bank account details. Then deny it ever happened.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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There are plenty of free and paid apps on iphone. There are also a few good hardware solutions too. Some even block specified callers.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I noticed today, whilst having a clear out, that a statement I had received for one of my debts simply showed the debt increasing massively despite my regular, albeit token, payments.

 

Shocked was not the word! It's too late to stop this months payment but will be giving them short shrift via letter! My loan is a speedloan. This thread has helped greatly thanks!

"In this situation, you know what you have to do? Just keep swimming, swimming, swimming." Dory - Finding Nemo.:wink:

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