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    • I'm on happy pills (anti depressants) but they aren't cutting the mustard anymore and I do need to see my GP soon to see if he can help in anyway. With regards to gambling it's so complicated; through my life I have made money (as well as having had some jobs)  being a "professional gambler" (gambling where the odds are in your favour - think card counting for example, fruit machines years ago for a long time.... Other things.) But I've also been totally compulsive at the same time. It;'s so entrenched in my psyche that it's hard to imagine just giving it up totally. I also have drug issues that have plagued me and it's a shame because I am fairly intelligent and could have been successful in life in theory but mainly due to those two things (and not really having any drive, ambition, whatever... I could go on and on but this isn't a therapy forum :P) I've not managed to. I'm 36 by the way. Cheers
    • Oh I just remembered I have a long defaulted account with Halifax balance approx £3700 I believe (from around 2015) but they aren't chasing me for it or anything. It was actually over £5000 but they refunded me a load of unfair charges (their words)  This does however push me over the £20,000 limit for a DRO I think?  
    • Hi.   I think you've made a good start by setting out in writing what you need to deal with. People should be along later to advise on how to deal with your creditors.   For the mental side of things, have you talked to your GP about getting some help with what's getting you down? Or support with the gambling issues?   HB
    • Hi people.   So I've managed to get myself into a sorry state financially. I'm insanely depressed which I guess is common for many. I don't think all of it comes down to the financial stuff but it is really crushing me now.   Facts: A lot of debt has been due to living on credit and gambling. I don't have a job. I know I should get one but I just totally despondant at the moment (due to many reasons). I don't expect any sympathy but I thought I would share this.   It's tempting to bury my head in the sand and wait for the inevitable calls from various collections departments but I want to be as proactive as possible. I think I've cancelled all direct debits so I don't get bouncing charges from the banks...   So onto the debts:   Loans livelend; £2400 was 4k 13% interest Bamboo £3000 (only just made the first payment this month) supid interest Likelyloans approx £3500 stupid interest  One payday loan for £200 I just got to cover some bills (knowing that I'd unlikely be able to pay it) - this is the only thing I haven't cancelled with the bank as they just take it from your card   Credit cards: Aqua approx. 3900 Capital one approx. 1200 Amazon approx £500 Paypal Credit Approx £1100 Overdrafts Santander £1500 Barclays £1k limit (I don't actually pay anything for this)   So all in all approximately £18,000     I also have a negative Paypal balance of £5000 but I don't believe this classes as a debt and I don't think they can do anything about this having read up on it quite a lot.   I guess my question is what is my best course of action. Should I look to do a DRO? Should I go bankrupt? (eurgh. Full disclosure I did this 15 years ago when I was 21. You think I would have learnt!) Should I write to each creditor and offer them £1 a month? Should I talk to one of the debt charities?   It is all my fault that I'm in this state but I also know that it's not the end of the world because they are all non priority debts. I probably am slightly behind on the council tax but not significantly.   I started claiming universal credit a couple of weeks ago and had my first appointment last week but managed to miss the next one due to not being able to sleep and then oversleeping and so I guess they've probably kicked me off that already and I might have to claim again.    So yeah. I take responsibility for what's happened but I don't see any way out. I've been very depressed lately due to this and other things. There is no one to "bail me out" and I probably don't need or want that anyway. Any advice appreciated          
    • Hi All,   I left the UAE 2 years ago. Have my bank clearance letter from HSBC.  I have been receiving emails from a company based in Hemel Hampstead IDRWW about money owed to the bank of RAK in the UAE which I’ve ignored as thought it was spam. I have now received a letter through the post saying the same thing (no idea how they have got my new address) that they are acting on behalf of RAK bank. I’ve never had an account with them but know how dodgy things are over there so would be nervous going back!.... Do I just ignore it or reply? It must be identity theft?  I am also nervous about travelling as I travel a lot & wouldn’t want to be arrested!!  I obviously have no intent on paying a debt that is not mine plus have no assets here anyway... Can they actually take me to court for something that isn’t mine??  Any info gratefully received.  Have spoken to citizens advice & they couldn’t help. Thankyou   
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Hi,

I have received a letter from Mackenzie Hall chasing a Welcome Finance Debt.

 

How should i respond?

 

This is what it states:

 

Dear XXXXX

 

As per previous contact by our client Cattles, you have been made aware that the overdue amount of £19**** remains outstanding. We remind you that you have a legal obligation to repay this balance.

 

Due to your failure to resolve this matter in a satisfactory matter, your account has been passed to Mackenzie Hall Limited.

 

The reason we are now involved is that previous attempts to resolve this matter have been ignored.

 

You must contact us immediately on 08444115699 and pay this amount in full.

 

If you are unable to pay this account in full you must contact us to discuss the matter further.

 

Failure to pay or respond to this letter may leave our client no other option than to commence with further action without notification.

 

Possible actions that may proceed:

 

- Home visit: The purpose of which will be to discuss your circumstances and assess your ability to repay the balance owed.

- Legal Action: We may advise our clients to instruct their legal representative with a view to issuing proceedings against you, which may also result in further costs being added to the amount owed.

 

Please do not ignore this letter as we may commence with further action without further notification.

 

Important: If you are not the named person above please contact us quoting XXXXXX

 

This debt is outstanding, but i cannot afford to repay it and it is a joint secured loan on a repossessed property. Unfortunately, i have no contact with my ex boyfriend and so cannot contact him. I have been burying my head in the sand, but not sure what to do now as this letter has been received at my parent's address.

 

Can anyone advise as to whether i should respond, and if i should, what should i say?

 

Thanks

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OK, when was the last payment made on this loan?

I presume the property was repossed with shortfall?


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I cannot confirm for definite but i would say that the last payment was made within 3 years.

Also, the property was repossessed with an approximate shortfall of £30K, which i am still trying to fight.

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Make a subject access request under the Data Protection Act 1998 to the Data Controller Welcome/Cattles there is a £10 statutory fee and they have 40 days to comply, this will provide all data Cattles holds on the account you send it to their Data Controller by recorded delivery.

 

Much of Wellcome paperwork is /was faulty or non exisitant.


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If rec'd at your parents address, then it would appear they don't know where you are living. I would suggest that it is returned to sender marked not at this address and your parents should let you know if further letters are received.

 

If you have no assets and a few large debts that you have no change of repaying you should seek proper debt advice to see what debt relief options are open to you. With a mortgage debt, they have up to 12 years to enforce, which is a long time to have something worrying you. If debt relief options are not available or not suitable, then some people choose to borrow a small lump sum from family, so they can make a 'without prejudice' full and final settlement offer. I have known several people who have cleared large debts by paying 10% of the amount as a settlement.


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When you were repossessed was a judgement made on the amount(s) due? if so, this may help


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Thank you. I shall go with the advice and see what happens. If this fails, i think bankruptcy is my only option. Thank you again.

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Brig is an expert at these sort of things (and can possibly read minds) and has given you good advice as a result.

 

For the benefit of us mere mortals, please could you confirm that Cattle and Welcome are the same, and that this was a second charge (secured loan) on the property.

 

Is the £30k shortfall just from the original mortgage? I.e. your apparent shortfall is £30k plus this £19k? Or does it include this sum?

 

Lastly - what are you doing to challenge the shortfall? (I have a shortfall of £50k myself and could do with some tips...)

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From digging around i believe Cattle is Welcome.... someone could possibly clarify this...

The debt that they are chasing was a secured loan on a mortgage. The £30K is the shortfall on the mortgage. I am basically trying to get all the information on marketing of the property, full breakdown's of costs and trying to ensure that how they marketed and the costs associated are relevant to the claim they are making against me.

To be honest, i am dealing with a DCA on that and they are useless, so i am basically going around in circles with them.

I'm really screwed....

 

Also, i have nothing showing on my credit file with regards to a CCJ against the mortgage.

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On a debt of this size it would be seriously unwise to ignore this letter there is a distinct posibility of this escalating to litigation and the ''without prejudice'' response prevents you from submitting any response and replies as evidence should end up in court.

 

If this debt is a mortgage under seal then the limitation act does give 12 years to pursue but the Council of Mortgage Lenders has stated their members will not pursue after 6 years, if this is a simple 2nd charge then 6 years applies.


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So my first step here is to send the SAR?

 

If they provide the credit agreement i am guessing that i have to pay up, although i can barely make ends meet at the moment?

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So my first step here is to send the SAR?

 

If they provide the credit agreement i am guessing that i have to pay up, although i can barely make ends meet at the moment?

 

Don't expect the agreement with a SAR there is no obligation under this request to supply it as it is covered by section 77/78 of the Consumer Credit Act 1974.

Even if the agreement is supplied it may not be enforceable.


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Re: The Mortgage Shortfall

You should aim your queries at the original mortgage company. A DCA has no obligation to honour your requests. If you have already asked the mortgage company to provide answers to your questions and they have failed, consider disputing the account - but be prepared to follow this through in court. If you have legitimate reason to dispute the account, the DCA should back off.

 

Re: The Secured Loan:

Brig is right - if the other DCA (MH) think it is worth their while they may litigate. It is in your interest to get a payment agreement in place. Even if your circumstances mean that this is £1 a month. They will whinge and moan, but they cannot get what you do not have.

 

Re: Both Debts

Given that you are considering bankruptcy you must seek professional advice. National Debtline, StepChange or CAB. If you appear before a judge in a BR hearing, such advice is a prerequisite to a BR judgment.

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