Complex Debt Situation

[DennisTheDog]

Hi, This is my first post at CAG, so hello everyone hope that you are well.

 

Not sure if this sub-forum is the right place to post as there see to be other references in the various banks pages.

 

 

My debt position feels overwhelming, the basic problem being these days is I am self-employed and my income is erratic to say the least.

 

Without going into detail too much, the position is that I have 5 separate creditors - 3 of them being different arms of Lloyds TSB the other 2 are MBNA and Santander.

 

These are mostly credit agreements that have been serviced for between 4 and 30 years basically continually or loans that have gone from one to the other.

 

The Santander debt is an old Cahoot flexible loan that I did not even realise that had been transferred to them until a few years ago.

 

I could make the payments until basically this year. Now my income is so erratic, that recently I could not keep up on a DMP and now MBNA have sold the credit-card debt to some Irish company.

 

I really would like to go bankrupt, but I work in the financial IT sector and I think that this would probably prevent me from working and also my SC for government work. We are tenants so it woulfd be entirely possible the landlord would terminate the SATA and we could end up homeless.

 

An IVA is not possible because my income is so erratic.

 

My total debt is about 40K, I have no real assets except a car which is 8 years old and a knacker and about a fee hundred in the bank to cover future rent and essential bills and I am currently not working.

 

Very depressed and anxious about my family as I am the only earner.

 

Any suggestions/advice would be welcomed

[BRIGADIER2JCS]

Hi Welcome to CAG, Have any of these accounts been defaulted and or passed to a debt collection agency?

Are you making payments on these at present.?

[DennisTheDog]

Well the MBNA loan has been sold on, the LLoyds stuff seems to have been passed on to someone called NHA. The DMP was arranged through a DM company, but I went through about 3 months without even any benefits. So the DMP went from £300 pcm to £50 pcm. Last month could not make the DMP due to no income. This month some benefits have started to come through, though not the CTC yet, which will be the bulk.

No work yet, only a couple of prospects. Not behind with essential bills though, as I have basically sealed the bulk-heads and paid them through contingency money borrowed from friends and relatives.

[DennisTheDog]

Oh the company that MBNA have sold the debt on to is Varde Inestments ( Ireland) Limited. It is for about £7100

[BRIGADIER2JCS]

We are aware of Varde, have they contacted you yet, we would be interested in their approach?

[DennisTheDog]

No just got a letter this morning from MBNA, said that they will contact me. NHA keep phoning.

[dx100uk]

this dmp

 

in all honestly id dump them

 

they will charge a fee everytime

 

you can do it yourself for free!

 

it worries me to hear the age of some of these debts

and the fact that loans [might] have been refinanced again and again?

 

have you ever looked at reclaiming?

 

ppi and PENALTY charges ?

 

hope all your debts show on your cra file too!

 

dx

[DennisTheDog]

The oldest CCA dates back to 1982, that is my Lloyds credit card.

 

The balance has gone up and down over the years, usually paid off by loans from Lloyds

- of which I have had several over the years and paid them off

- the latest was due to be paid off next year, but I have defaulted on that this year because of the income situation.

 

Plus the CC is currently at 16K and I've defaulted on that too.

 

The Cahoot dates from about 1997 and the MBNA credit card since about 1998.

[Gazette]

The good news is that the Cahoot/Santander is just waiting to pay you out thousands.... First you need to email the CEO and claim back the excessive interest. (Probably a couple of grand) Then you need to get claiming the ppi. You need to SAR Santander to get the details. Santander are fairly quick to respond. You'll probably get the interest back within a month. Two months for ppi.

[DennisTheDog]

The good news is that the Cahoot/Santander is just waiting to pay you out thousands.... First you need to email the CEO and claim back the excessive interest. (Probably a couple of grand) Then you need to get claiming the ppi. You need to SAR Santander to get the details. Santander are fairly quick to respond. You'll probably get the interest back within a month. Two months for ppi.

 

Could you be more specific, I'm rather new at this.

[dx100uk]

i think he means reclaim the PPI & the interest it cost you.

 

if you dont have all the statements time to SAR the.

 

dx

[Gazette]

i think he means reclaim the PPI & the interest it cost you.

 

if you dont have all the statements time to SAR the.

 

dx

 

Nope. Not quite. The original Cahoot loans were sold with typically low interest rates which then shot up when Satan took over Abby National. You can claim back THIS unfair interest from Satan at the moment quite seperately from a ppi claim. Two loads of cash for one loan. You must, however, email the Santander CEO with your unfair interest claim. A short note with your account number and complaint about unfair interest will suffice. Your ppi claim is quite separate and will need to be made in writing.

[dx100uk]

thank you!

 

dx

[paulwlton]

Send all your creditors a section 77/78 CCA request.

[DennisTheDog]

Nope. Not quite. The original Cahoot loans were sold with typically low interest rates which then shot up when Satan took over Abby National. You can claim back THIS unfair interest from Satan at the moment quite seperately from a ppi claim. Two loads of cash for one loan. You must, however, email the Santander CEO with your unfair interest claim. A short note with your account number and complaint about unfair interest will suffice. Your ppi claim is quite separate and will need to be made in writing.

 

The thing is, I feel a little at fault here.

 

My Original account was for a cahoot flexible loan which did not have printed statements.

Due to problems accessing my account I could not access my cahoot account to get them on the internet.

Then due to unemployment we had to sell the house and move into rented and move and move and move.

 

With all the pressure that was going on I simply forgot about it.

So I had not read a statement in years.

 

The Santander buy out I heard about on the TV some time after it happened and I contacted them and I eventually got a statement about 2 years ago.

 

Apparently one of my DD payments had not been requested because of a fault in their system.

At no time have I ever been informed of an interest change or the fact that my loan had been bought.

 

I tried to inform them of a chenge of address, but because of moving so often, it was difficult to prove it, so they took no notice.

 

As for the interest rate thing, I have no idea what I was paying on my cahoot flexible loan compared to now so what happened?

[dx100uk]

i think you need to sar at least satans bank

 

and look at reclaiming everwhere you can

 

dx

[DennisTheDog]

Thanks I will start with them first. Last year I asked Lloyds TSB for a copy of my original signed credit agreement for my credit card account. Months later I got a letter back saying that they were as yet unable to locate it. I am still waiting. Think I'll SAR them too.

[Systemerror]

Have you been getting any phone calls from lloyds or their agents?

Edited September 19, 2012 by Systemerror

[DennisTheDog]

Yes from Lloyds TSB, under a debt collection company called NHA - who have even written to me saying they may send a representative to my address - I got one this morning I recognise the number - I don't even answer the phone anymore.

[DennisTheDog]

The SAR needs a ten pound fee, is it okay to use a postal order as my bank account does not come with a cheque-book. Who do I address it to and make payable to?

[Old Cogger]

The SAR needs a ten pound fee, is it okay to use a postal order as my bank account does not come with a cheque-book. Who do I address it to and make payable to?

 

SAR to lloyds Bank that is where the SAR goes to, write on the back "For SAR purposes Only" they then have 40 days to respond to the request

 

also send a Denial of Access letter believe there is one in the collection letter files on CAG.

 

also if you are requesting CCA1974 you will need to send £1.00 P.O. marking for CCA1974 purposes only on rear to LLoyds. address to CEO @ LLoyds.

[DennisTheDog]

SAR to lloyds Bank that is where the SAR goes to, write on the back "For SAR purposes Only" they then have 40 days to respond to the request

 

also send a Denial of Access letter believe there is one in the collection letter files on CAG.

 

also if you are requesting CCA1974 you will need to send £1.00 P.O. marking for CCA1974 purposes only on rear to LLoyds. address to CEO @ LLoyds.

 

Is a denial of access letter the one about halting data processing?

[Old Cogger]

Is a denial of access letter the one about halting data processing?

 

Denial of acces is the letter for door step visits.

[DennisTheDog]

Thanks

[Old Cogger]

Denial of acces is the letter for door step visits.

 

here is one,

denial-access.rtf