Some advice needed regarding Santander/Credit Style Loan

[sarhoff76]

Hi

Am very new to this,

although i have read a few things and took advice to try and sort out our Debt problems.

 

I have managed to sort out repayment plans with most of our creditors.

 

The only one we are having problems with is Santander,

who will only agree to a 6 month period for us to catch up on our arrears in the Loan my Husband took out in 2009,

 

we have £3712 left on this loan.

 

We have had problems since July 2011 when my job was made into a job share due to cuts at work therefore i became part time and my salary went down.

 

We fell behind with our debts after a while.

 

As i said we have sorted our other debts out, but santander are saying they will only accept £408 per month for 6 months to pay arrears

and keep up to date with further installments (£240).

Because we couldn't keep to this they then passed the account to Credit Style Limited.

 

I have tried to deal with Credit Style and given them all the information

 

they then came back with the exact same off Santander had because they are working on behalf of them and are governed by what Santander say.

 

If i cannot agree and commit to paying £408 then Credit Style will pass the account back to Santander, and the lady i dealt with said they will do one of the following:

 

If you are a home owner it could be a County Court Matter as Santander will look to secure the £3712.50 balance you still owe on the agreement against your property. I

 

f you are employed it could be Court again to apply for an attachment of earnings or as you state, they may sell your balance to a 3rd party as they do adopt this procedure too.

 

I am afraid I cannot guarantee which approach they will take as they have a department that deals with cases like yours

but I can advise they will give you the chance to pay monthly / weekly and suspend all action unless you default with payment.

 

My question is does anyone know what they are likely to do?

We do not own our own home, my husband works but we don't have enough money coming in for them to receive the amount they want through an attachment of earnings order,

and if it gets sold on are the other companies more likely to agree to a more suitable agreement plan?

 

Am getting really worried as we are slightly behind with Council Tax and Gas/Electric at the moment and i need to pay these debts first.

 

They are the only company that just wont budge on their timescale.

 

Any advice would be really appreciated.

 

Sorry if i've gone on for too long,

 

its my first time doing this.

 

Sarah

[Guest]

firstly, there would need to be a county court judgment against you before any of what they say could happen (apart from selling on). and as you say that you don't own property? so there can be no charging order.

as cred style are only acting on behalf of creditor, they can't advise on anything that the cred 'will' do. tis up to the creditor. seems like creditor is being unreasonable. have a look at the Lending Code, OFT guidelines, bcobs, etc

if you want to check out the paperwork, could do a cca request.

is there any missold ppi? if so, get claiming on that.

as you say, priority debts first.

 

welcome to cag btw

Edited October 10, 2012 by Ford

[ims21]

Absolutely.

 

And don't forget any unlawful charges on the account which could be reclaimed.

[sarhoff76]

Hi

 

Thank you for your reply, he cancelled the PPI not long after he took the loan out as i told him it wasn't worth paying for. Have read the Lending Code and Santander do seem to be unreasonable and un-moving in the negotiations. I can't understand why. I have done a I&E and their payment per month would be £141. Do i send them my I&E and just pay the 141 per month into their bank account for the time being even though they are asking for £408? At least i would be paying something, which i assume would go in my favour if they start legal proceedings, it just scares me to death when they start talking about taking my husband to court etc, as he really cant deal very well with stuff like this so its left to me to try and sort out.

 

Sarah

[ims21]

You can only pay them what you can afford.

 

So yes, pay them on that basis. If £141 is too difficult for you then pay them less. No Judge is going to order you to pay ore than you can afford.

 

Have you looked at the charges that may be on the account?

[Guest]

141/month seems quite alot re 3.7k?, can you afford that? as said, only do what you can afford, not what they want.

there is also the oft guides, irresponsible lending guide, csa guide, bcobs etc

if it was only the first dca, then they might send it out again to another dca. so, prob no legal action to worry about. there is no property! plus you're paying 140/mth, will be paid off in 2 and a bit years!

you asked if it was sold would new owner accept less full and final? probably, as they don't buy for the 'full' amount.

presume this has been defaulted? so, just pay in what you can afford. whilst also doing a cca request? consider full and final if poss?

Edited October 13, 2012 by Ford

[sarhoff76]

Hi

 

Thank you for all your advice, its much appreciated. I am going to send Santander a letter offering them 141 per month and hopefully they will accept that although i doubt it very much as they have been very unhelpful up to now. Fingers crossed though as i really don't want my husband to go through legal action as i don't think he will be able to handle it. Again many thanks for all your advice and sorry i didn't thank you all sooner, i have been ill and only just logged back in.

[Sellessal]

I also have had problems with Santander since they took our my Alliance-Leicester accounts. The first problem was my current account went overdrawn by £5. I immediately paid £25 into my account but they still continued to add charges until the account was £401 overdrawn. I contacted CAB and with there help the charges were cancelled. I then wrote to Santander closing my current account, which I had not used for 6 six months whilst the charges were sorted out. The account balance at that time was £0.00. Three months later I moved house and saw no necessity to advise Santander of this as I no longer had a bank account with them. Several months later I met with the new tenants of our property who advised me I had a visit from a debt collector, I contacted Santander who sent me a statement of account, via Westmore's showing an overdraft of £580. There was no movement on the account except overdraft charges on a zero balance. I wrote to Westmores explaining the situation and advising that any more harrassment and I would be contacting the Ombudsman. This was 2 years ago and have heard nothing else. My second problem with them was over a personal loan that I had with Santander for £4200. When I lost my job due to an accident at work I was unable to make the payments. They agreed to freeze the interest and accept a payment of £1 per month which I have been paying now for three years. I have now received a statement yet again at my previous address showing that interest is still be added to the account! I now owe £5120 and at the current payment of £1 per month will continue to ac-cur interest.

[Guest]

sellessal, have you a thread on this? maybe best start one up. you really need to try and ensure that any interest is stopped. have a look at the lending code etc which says that they should consider interest concessions where there are difficulties (obvious if only paying 1£). there is also bcobs, and also consider a time order if applicable.

[Sellessal]

Thanks for the advice, Ford. I don't have a thread on this but will certainly start one, just need to work out how to do that without having the same post on the forum twice. I will definitely get back in touch with CAB who initially arranged the agreement with Santander three years ago.

[Guest]

Thanks for the advice, Ford. I don't have a thread on this but will certainly start one, just need to work out how to do that without having the same post on the forum twice. .....

 

no worries there, just click 'post new thread' in the approp sub forum.

[Lilythepink]

I have a thread about them as well, we all seem to have the same problem, they just won't listen or deal with the problems.

income and expenditure is all they want. I too was ill, and am now back to work, but willl they listen no.

Watching a couple of threads, as they seem to be so unhelpful...

[Guest]

'they' should accept a common financial statement such as that from the cab for eg. ie not their ones that want your bedroom sizes, house size, ppty owner, no. of creditors, no. of tenants, no. of cars, total household income, ccj's, dick size, etc. you know what i mean . and even then, could say, have completed cab form for eg which says i have x amount available per month to pay you, and that's what i'll pay. and, stop interest as required by the lending code, bcobs, etc.

[Lilythepink]

I know, they don't allow you to live, and we are wanting to go back to full payment