20k DEBT BETWEEN 17 CREDITORS WERE DO I START help help help

[darrenwillo]

Hi

i am 31 years old male i have 17 creditor debts totaling £19600 from 2005-2012

i need help to take control of this situation and some advise what to do.

 

I have 2 children and i want to put this right

 

i have been a bad boy and i desperately need to sort this out

 

i have recently been on the credit reference agencys and im full of defaults as im not suprised as i have never made contact with these debtors.

 

I have deliberatly just ignored them and hoped it would go away

stupid i know but i now want to take control and sort my credit history and rating out so i can eventualy apply for a mortgage.

 

I am a builder and i am regulary in and out of work

so keeping up payments has been impossible for me thats why i have chosen to ignore

but ive had enough i wanna sort it once and for all JUST DONT KNOW WERE TO START.

 

What i have done over the last few days is compiled a list of debts 17 in TOTAL = £19600

and I have been on equifax exsperian and noddle to see what details they have for me.

 

noddle have 6 defaults

exsperian have 3 defaults

equifax have 7 defaults .........all puting me in a poor credit rateing exspected really.........

 

all discracefull i Know wich is why i am here to admit were i went wrong and start to put it right

 

out of the 17 debts i have

some are newer i.e 2012

 

so is it best to write to those and make a token offer i

f that is correct so it doesnt get to the default court stage

or should i ask for validateing from them all first

 

what do i do next

 

do i validate them ask for there contracts etc

or just make an token offer to the collection agencys that have been bombarding me with phone calls and letters.

 

some of the 2012 debts are still with the opriginal creditor

 

what should i do next

 

i put theses debts through step change debt change a

nd they advised to go bankrupt there must be other options please help me start to sort this out.

 

Noddle score 1/5 points poor credit Not suprised

[i hate bailiffs]

you need to list the debts and include the date of the last payments

 

if any of them have not had a payment in the last 6 years they will be statue barred

[maroondevo52]

Hello and Welcome,

 

Starting a new thread for each debt in the appropriate Forum giving details of what the score is with the debts at the moment would be the best way to get advice.

I'd suppose quite a few will be with debt collectors so some could be placed in that Forum.

 

Regards,

 

Scott.

[BankFodder]

If you have this level of debts, a young family and no assets - and if you really do realise that you have made mistakes and you want to change and put it all behind you, then maybe you should consider bankruptcy.

 

Bankruptcy is a serious step but whihc doesn't carry the stigma it used to. We have some very good reports about how sympathetic bankruptcy counsellors can be and what a relief it is to be able to learn the lesson and to walk away and make a clean start.

 

The alternative to bankruptcy will be years of struggling to pay off debts to people who don't really care about you and who don't care about each other and who will each pursue you for their own pound of flesh even though there isn't enough left for you or all of the other creditors.

If you choose not to look at bankruptcy, you will probably be trying to resolve your debt problem for another 10 years which means that your children will grow up in that climate and as for getting a mortgage - don't even bother to dream about it for a long time.

[dx100uk]

hello DW

 

look at the defaulted date on each debt.

 

when will most be gone by.?

 

dx

[dx100uk]

welcome finance debt is now here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?379406-DEbt-only-just-defaulted-after-yrs-of-6-markers-is-this-fair

 

dx

[dx100uk]

can you please list your other debts

 

dx

[darrenwillo]

1 srj debt recovery £67.52 on behlf of virgin media letter dated 21.03.2011 refferal for litigation letter this is on cra

2 dwp £1800 social fund there currently taking £20 per wk from benifit as im on jsa

3 lowell on behalf of 02 phone contract £900 last letter dated april 2012 this is on cra been passed from mchenzie hall to lowell to advantis states debt is owed to lowell

4 lowell on behalf of 02 phone contract £720 last letter dated april2012 this is on my cra been passed from mchenzie hall to lowell to advantis states debt is owed to lowell

5 moorcroft on behalf of auto net insurance £68.58 last letter dated 28 april 2012 passed from lion debt recovery to moorcroft

6 lowell on behalf of shop direct catalouge £381 last letter dated 21 june 2012 passed from lowell to advantis this is on my cra

7 welcome finace .................................£8.624.96.........................

8 srj debt recoveries on behalf of vergin media £179.15 passed from moorcroft to srj this is on my cra

9 ecar insurance £447.03 this is a recent one in nov 2012 for cancelling a policy i need advice as this hasnt gone to a debt collection agency yet

10 brite house havent heard from them as yet £2461.68 just got original contract with debt i owe but i made alot of payment with them soo need balance or advise

11 express finance £625 bryan carter solicitors wrote on the 17 may 2011 and been passed from frederickson international debt collectors on my cra

12 past due credit solutions on behalf of cap quest investments ltd (orange) £107 .82 letter dated 12 october 2012 advice please on my cra

13 green flag £57.14 letter dated 30 march 2012 havent passed on to debt collectors advice with letter please

14 admiral insurance passed to dlc collections then mdb ltd £74.58 letter dated 7/01/2013 advice with what to do please

15 wonga £519 last letter i recieved is from 2/4/2012

16 thames city insurance £1395.29 passed to daniels silverman now last letter from DEA debt enforcement associates letter dated 3/4/2012

 

i feel so foolish and stupid looking at these debts i am desperste to get on top of them what should i do were do i start cant even recall half of them tbh whats the next steps Bancrupsy is not a option for me as i will not be employable that will make things alot worse for my family if i go down that route. i can spare £35 per month until im back in work then i could easily up my total to £250 pcm if thats any help.........Thanks DW

[dx100uk]

1. how much of this debt is PENALTY charges?? VERY LOW PRIORITY at best £1PCM.

2. ok

3. WHAT FLEECING YOU. send an SAR to the OC. drop them to £1!!!

4.same as above

5.same as above

6.same as above

7. has own thread

8.same as no.1.

9.start a thread in the general motoring forum

10.start a thread in the brighthouse forum.

11.start a thread in the PDL forum

12.same as no.3.

13.same as n0.9.

14.same as no.9.

15.same as 11

16. same as no.9.

 

ALL of those debts are NON PRIORITY debts

 

WHY have you SO MANY mobile phone debts

virgin media debts

and car insurance debts?

 

what has gone on here.

 

there is certainly NO NEED to go BK or anything.

[darrenwillo]

hi DX thanks very much again mate

 

what does OC mean on number 3 and what is the purpose of the SAR what do they mean and why would i send a SAR sorry if i sound stupid just dont know as im new to the forum mate ill proceed today to start threads on the 15 listed mate i have one more too another 17 /8/8/swinton £755 car insurance cancelled then they put the charges on me

 

Whats gone on is ive had 6 adresses in the last 7 years and been in and out of work in between ive took these contracts out believeing i could pay then i have been laid off from work and the van insurance is the same took it out on variouse vans for my work then contract ended or been laid off along with mobile phone contract i have learnt my lesson now i dont watch tele and if i get insurance its paid in full and as for a phone i have an old style nokia on pay and go and if i want furniture we save and buy what im really after is a mortgage one day when im in permanent work and not sub contracting im trying to get in with a houseing assocition so i am in work permanetly to prevent this happening again its a joke most of this debt is late payment charges the put on when ive pulled ouit of contract with them.

[renegadeimp]

As dx said, you seem to have a LOT of unenforceable debts there and your creditors know this. Thats why they are hounding you for cash. They want you to pay before you find put what is wrong with the debt.

 

First thing to do is calm down, take a deep breat and follow dx' s excellent advice. dont worry. Nobody here will judge you. We're here to help.

[dx100uk]

oc is original creditor

 

you need an SAR to get ALL the statements to look at reclaiming.

all those fees are UNLAWFUL PENALTY charges

 

IMHO 90% of those debts can in all effect be forgotten about. or dropped to £1.

 

i suspect you are only paying them as you fell for threat-o-grams from DCA's.

 

DCA's are NOT BAILIFFS & have no such LEGAL POWERS.

 

even IF these debts got to court

 

NO judge would make you pay more.

 

dx

[valignya]

Sorry to hear about your debts, buddy.

 

The main thing is to calm down and stay that way because, as dx points out, a lot of those debts are unenforceable.

 

Although I'm unemployed and have a two credit card debts about 1/3 of your total,

I took the advice from the good folks on here and dealt with the problem as detailed on my thread.

 

The main thing is to decide what you're going to do.

 

Struggle on for years paying through the nose with the interest and debt,

or effectively say to the unenforceable creditors "sod it, bring it on"

 

They can't really do ANYTHING to you mate, not really.

 

Your credit rating will be affected I'm sure so if you care about that you'll have to try to strike a balance

[darrenwillo]

DX thanks for the info mate your like gaurdians to the people well done im sure there is i loverly spot in heaven for you all in the site team Thanks

 

 

virgianya renegade thanks for your kind words and yes they are or should i say were a burden

 

ill take DX advice and proceed with a fight also this is very intersting stuff too

 

imagine how many people out there are as unaware as i am too all this corparate tax and unlawfull penaltys too

its like all my good karma is paying off finally hey ha ha

 

POWER TO THE PEOPLE UNITED WE STAND DEVIDED WE FALL ALL FOR ONE

 

AND ONE FOR ALL.............................

[renegadeimp]

The best thing to do darren, is to post in the appropriate forums as dx advised.

 

Your debts are easily dealt with and you might even come out on top with some money at the end of it.

 

Just be warned though, with the companies you have mentioned, it's going to be an uphill struggle,

but there are some very knowledgeable people on this site that can help you each step of the way.

 

One thing i would advise to you, is to make sure you never answer the phone to them.

 

If they catch you off guard, simply refuse to answer any "security questions", overtalk them and say, all contact to be in writing please, then hang up.

 

If they keep calling you, we can give you a letter to send to them to force them to stop.

[darrenwillo]

my next move is to put these in the correct threads ill do that later when i have time

DX

1 when i send them the sar and lets say they send me info out what is the next move how do i evaluate the data info

2 when i send them sar and lets say they dont respond does that mean its wrote off whats the process thanks again

3 as i want my credit rating clear would it be best to wait till say 2018 or pay em off how will it affect me getting a mortgage

[renegadeimp]

I can answer the mortgage question, and it isnt good news. Even though the financial crisis was 100% the lenders and banks fault, they now demand 3+ years ( most want 6) of CLEAR credit history.

 

I'm in the same sort of position. I have a CCJ that doesnt come off my file for another 3 years. Upside, is at least i'll have a sizeable deposit to throw down on a property at the end of it all

[darrenwillo]

The best thing to do darren, is to post in the appropriate forums as dx advised. Your debts are easily dealt with and you might even come out on top with some money at the end of it. Just be warned though, with the companies you have mentioned, it's going to be an uphill struggle, but there are some very knowledgeable people on this site that can help you each step of the way.

 

One thing i would advise to you, is to make sure you never answer the phone to them. If they catch you off guard, simply refuse to answer any "security questions", overtalk them and say, all contact to be in writing please, then hang up. If they keep calling you, we can give you a letter to send to them to force them to stop.

 

thanks mate ill take that advice and proceed with the advice given ill keep you posted thanks for your reply the support is amazing

many thanks Darren

[darrenwillo]

I can answer the mortgage question, and it isnt good news. Even though the financial crisis was 100% the lenders and banks fault, they now demand 3+ years ( most want 6) of CLEAR credit history.

 

I'm in the same sort of position. I have a CCJ that doesnt come off my file for another 3 years. Upside, is at least i'll have a sizeable deposit to throw down on a property at the end of it all

 

ha ha good stuff mate 3 years not tha long tho ay

 

so my last default was on 04/2012 so 6 yrs after this is 2018 so is that when ill be ok for a mortgage is that when my credit file will be clear provideing i dont fall in the credit trap again

 

or will it be clear if i pay these original creditors off and make a deal for them to remove it from my credit file can that be done when i get back on the tools/in work an can afford to pay what the debt actualy is thanks DW:mad2:

[renegadeimp]

2018 at the earliest yes. However, as i stated, the banks still want a few years of clear history AFTER the default is gone, to prove you can maintain your finances.

 

If you want to negotiate a settlement offer with a creditor, of course you can add a clause that all entries to your Credit record must be removed. But it is completely up to the creditor whether they accept that or not.

[darrenwillo]

oket doke thanks ren