Debt Management - Contacting Creditors Help!?

[Superdryguy2k10]

Hi All,

 

Hoping someone can help me.

 

I am in the process of doing a DMP/IVA or a DRO and was wondering if I can get help on a few issues.

 

I am only being badgered by a couple of my creditors but understandbly want to clear everything

so effectively I can start again.

 

I am in the process of contacting all my creditors for balances etc a

nd was wondering if anyone had a draft letter to help me (maybe requesting I&C are frozen request)

and what info I would need to ensure I get recent balances and not duplicate creditors.

 

I have checked my credit report with Noddle and there are some of my creditors on there

but not all, so is it worth emailing every creditor to get a balance/account number

or just to deal with whats on that report as I know I have more.

 

Also, some of my creditors are payday loans from several years ago and have mounted in interest, do I now have to pay the full balance etc? Any advice would be greatly appreciated as the sooner this is sorted the better.

 

Thanks All.

[fkofilee]

First off. List your debts here so we can see this... Hwo much is it you owe? and IVA or DRO is a bad idea, however a DMP is a better option depending on the amount.

[Superdryguy2k10]

Thanks for the reply

 

So far I have got....

 

Bongaloans - £200+

Countrywide Payday - £139

Debitcard Loans - £432

Equidebt (PDUK) - £787

Keyes Whitlock - £223 (Also PDUK - They granted a 2nd loan at new address)

Lowell x 3 - £763, £159 and £218

MMF - £250

Pound Access - £300

Quick Quid - £589

Redcastle - £386

Speedcredit - Was £400 loan - they are claiming £4,000+!!!!

TxtLoans - £300

Wescot - £387

 

On my Noddle credit it also shows these but not sure if they have been passed on by other creditors.

 

Indigo Michael - £314

Active Securities Ltd - £813

Next Credit x 2 ---- £400 and £115

EE - £683

Cash On Go Ltd - £115

 

and I also owe SW Water around £100, British Gas £30.

I also have a council tax default of £250+ and £300 from old addresses and a housing benefit overpayment of £1800.

 

Pretty messed up from an old relationship as you can tell!

[Superdryguy2k10]

And also.....

 

1st Credit - unsure where from....£800??

Lifeboat Loans - £750 borrowed now claiming £2500 in the space of 3 months.

and MKDP (HSBC?) - £800?

[fkofilee]

Wow! Okay Loads of PDL..

 

First off Equidebt no longer exist, went into administration so i would imagine that ended up with Cabot...

What DOES actually show on your Credit file?

[fkofilee]

Okay so from what you listed i get ; £18,153

Honestly... At least youve bought your head to the surface and that is a GOOD Thing!!

 

DO you work and what can you afford per month if you do ?

 

Note thats with the 4k from speedcredit... I think they may have folded with Toothfairy as i believe they were one of the Web processing group...

But we can sort that later... just be warned for a letter from DHR Capital...

 

You can challenge most of these to reduce the fees for PDLs as they in theory should really just charge 1 month + interest even if defaulted. But they charge extra fees for being late etc, default fees and a lot of these are over what we consider "Fair"

 

Do you have any CCJs?

[Superdryguy2k10]

I'm pretty sure a lot of these fall under the same bracket like 1st Credit, MKDP and Wescot or someone claiming for the same HSBC debt.

I currently dont work having fell out of work in Sept due to a marital breakdown - although shouldnt be out of work much longer hence the query on which route is best.

 

As for the Equidebt, that doesnt show on my credit - it shows 2 lots of MEM

 

Currently on JSA so can't afford a lot pm at the min - hence why I was thinking of the DRO route but if it tots up to £18k including the Speedcredit and Lifeboat loans then obv over the 15k threshold

[fkofilee]

I think with a DRO you need at least 1 CCJ

[Superdryguy2k10]

How would I know if any of these had become CCJ's? I dont mind what plan or route I take as long as I eventually start chipping away at them

[fkofilee]

It would appear on your Credit file with a CCJ section. Normally under Public Information.

[Superdryguy2k10]

In that case it doesnt have anything under a judgement but my old council tax went to court today - would that be a judgment?

[fkofilee]

I seriously dont know about that! :/ Wish you said sooner...

Going to flag this to the MODs see what info they can add

[Superdryguy2k10]

Thank you - just looking for the quickest route out of this but dont really want to be tied into an IVA for 5 years.

Also, would I have room to challenge any of the payday loans with the interest they have piled on? Eg Speedcredit loan was £400 chasing for £4k and Lifeboat Loans was £750 - chasing for treble that in 3 months

[fkofilee]

Okay i tell a lie and cant flag it :/ ...

 

Right... Lets see here. Yes you can challenge the amount of those 2 debts... Phantom charges yet again...

[Superdryguy2k10]

How would I go about challenging them? And would all these debts appear on my credit as I know that Experian/Equifax and Noddle all hold different info but its rare for a PDL to be placed on your credit.

Would bankruptcy be a suitable option?

[dx100uk]

forget the rest

 

these MUST be paid

 

and I also owe SW Water around £100,

British Gas £30.

I also have a council tax default of £250+

and £300 from old addresses

and a housing benefit overpayment of £1800.

 

start a thread in the PDL forum

 

and list your PDL debts there.

 

have you moved

so you've lost all the mail?

 

you need to make a loose leaf file for each debt

 

and put each debts paperwork into it.

 

find as much paperwork as you can.

 

dx

[Superdryguy2k10]

I have moved about 5 times in the last 3 years so have had a lot of addresses. Havent had any correspondance or very little from some of these companies but in the back of my mind I still know they are outstanding and mentioned them as if I did a DRO or went bankrupt I know you have to include all of your creditors

[dx100uk]

so you've no real way of knowing if there are any CCJ's etc then

 

the papers would have been served to old addresses.

 

if all of you old addresses do not show on your CRA file

under linked addresses

 

theres no way of knowing.

 

on one of the cra sites theres a section whereby you can update your old info.

 

cant remember which one.

 

but just searching say your name on the trustonline search site

wont help .

 

dx

[Superdryguy2k10]

I have searched Noddle and it does have all addressed and nothing is listed as a judgment....really not sure on where I stand with the paydays and interest, especially the SpeedCredit and Lifeboat Loans?

[fkofilee]

Super.. .Like i said , speedcredit have folded... so that is your LAST worries right now...

[Superdryguy2k10]

Will they still try and chase for it as I havent had any contact for a while apart from a few silly Marshall Hoares/NDR pretend home visit threats?

Some of the other creditors have also folded like PoundAccess....the difference they make to the debt level is immense

[fkofilee]

Of course... MHB and NDR were part of the same company... They i think have also disappeared... Let them whistle... You just wont listen to them.

[Superdryguy2k10]

But wouldnt that then have an impact on a potential IVA or DRO etc?

[dx100uk]

I think you need to narrow down what you THINK you owe

 

to what you ACTUALLY owe.

 

the PDL's can all be FORGOTTEN ABOUT

 

and lumped together in a thread in the PDL forum

they are NOT IMPORTANT.

 

those priority debts ARE THE ONES

you need to get sorted ASAP>

 

the rest..on the back burner till the priority ones are being paid.

 

debt is NOT A CRIME.

 

dx

[Superdryguy2k10]

I dont dispute any of the debts..

..what i do however question is the payday loans.

 

I am happy to stick them on the back burner if they arent a big issue

but if I am looking for a DRO or Bankruptcy then they still need to be considered.

 

I am however going to take logical and sensible steps tomorrow to sort something out with the c.tax

and housing benefit as that is now being deducted from my JSA at present

unless I argue otherwise which I wouldnt know how to do.