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Ok

 

firstly hi,

this is my 1st post on here.

 

 

I have however been reading endless posts and in part this has made me and my wife make

the final decision to stop trying to deny our dept and hit it head on.

 

We are about £32000 in dept between us and although I haven't done a full budget plan yet

I have roughly calculated at this point we can spare £800 per month to go to our creditors.

 

The first thing that worries me is they will just refuse a monthly payment once they are defaulted

and the second issue is getting them to stop or reduce the interest.

 

 

Actually I know this might sound mad but from what i have read it looks like I may actually be better off

if some of these creditors file for a CCJ. At least that would be a stop to excessive interest.

 

 

I am sure I will get some proper advice when I post my particulars.

I am seriously not bothered about credit rating,

our only aim is to clear this dept in full and as quickly as possible.

 

needless to say I will be calling on all you guys for assistance as I start and then progress this journey.

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You might be better off considering bankruptcy and starting out from zero.


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Whilst nowhere near the amount you find yourself in, (Although Sadly I ended up on ESA then JSA and soon hopefully back to full time work now I passed the medical woop woop)

I too decided this year to start taking back control.

 

If Bankcupcy et al isnt desireable or achievable then there may be other things you can do. But for that you would prob need to Sort all your paperwork out. Separate all debts and paperwork.

 

Create a thread for every debt in the appropriate forum.

 

For Credit cards and Loans do a CCA and Full SAR Request

For Current accounts do a Full SAR

 

Then look for PPI, Packaged loan fees, Credit Card charges eg over limit, returned item and late payments and start the process. If you have the paperwork and or can get it, you can go back over 6 years. And in some cases claim for interest in restitution.

 

A lot will depend on what information you have and can get and how you are effected by the above and the impacts they would have if successfully challenged on your total balance.

 

Good luck, Hope to see you as well at the end of my journey to become debt free XD


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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Hi timeforchange2014

 

This is just a thought, have you been mis-sold PPI on any of your accounts?

 

Have a read of 1,2 and 3 in my signature.

 

Ok

 

So firstly hi, this is my 1st post on ghere. I have however been reading endless posts and in part this has made me and my wife make the final decision to stop trying to deny our dept and hit it head on.

 

We are about £32000 in dept between us and although I haven't done a full budget plan yet I have roughly calculated at this point we can spare £800 per month to go to our creditors.

 

The first thing that worries me is they will just refuse a monthly payment once they are defaulted and the second issue is getting them to stop or reduce the interest. Actually I know this might sound mad but from what i have read it looks like I may actually be better off if some of these creditors file for a CCJ. At least that would be a stop to excessive interest. Anyway I am sure I will get some proper advice when I post my particulars. I am seriously not bothered about credit rating, our only aim is to clear this dept in full and as quickly as possible.

 

Anyway needless to say I will be calling on all you guys for assistance as I start and then progress this journey.


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And also there are other ways i believe to get interest stopped before getting ccjs against u.

 

Someone should be able to point u the right way


PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Hi, all of these originated after 2007. Is it still worth me going for the CCA?

 

I definitely do not want to go down the bankruptcy route.

 

Any advice on getting interest stopped though would be great.

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Hi fkofilee

 

First Direct Overdraft - £900

 

First Direct Loan - £1500

 

First Direct Gold Card - £3000

 

2 X Aqua Cards - £3100 on each

 

Barclaycard Goldfish - £1700

 

Barclaycard Visa - £1600

 

Santander Credit Card - £1500

 

Capital One Card - £750

 

Tesco Credit Card - £3000

 

Very Catalogue - £4500

 

Litlewoods Catalogue - £2000

 

Next Directory - £1600

 

Lloyds TSB Credit Card - £1300

 

Virgin Credit Card - £1400

 

 

All of these are still with the original creditors and are only now going to have missed payments on them

due to my wife going to be out of work.

 

 

She is going to another job but the salary is quite a bit less and she will not see any pay now until the end of August.

 

 

I will not be making any payments to the until the end of August

when I was going to send a DMP to them to show how we are going to repay it all.

If only they would freeze interest the rough plan we did showed they would all have been paid in full in just over 3 years.

But I guess they are not interested in that and will just want to add what they can.

 

 

How quickly are these likely to default and sell the depts on??

It seems from reading posts on here that this is the average point at which the interest stops.

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Hi all

 

Well back in May I posted on here saying that myself and my wife had had the light bulb moment.

That moment where your gut is in knots as the reality of your debt hits you.

 

I read endless posts from people in the same situation and people that felt the same as us. Simply terrified!

 

I made my first call to Step Change in May to talk to them about the problems we were in and I have to be honest they were brilliant.

I went through our income and expenditure and what got us into such a mess. They didn't judge at any point and were really helpful.

 

I estimated that we were approximately in £32000 worth of debt and at the time I was resigned to the fact we were going bankrupt.

Within 20 minutes Step Change had convinced me that bankruptcy really wasn't necessary

and with our salaries we could pay this debt off in a reasonable amount of time.

 

I decided after reading forum after forum on the internet that maybe Step Change wasn't for everyone.

I am quite an independent and strong character and my wife is to.

Yes we felt disgusted with ourselves for the mess that WE had caused

but on the same note WE felt that WE should lead ourselves out of it.

Neither of us are afraid of speaking to people in difficult situations and we never let people get the better of us.

 

a month ago we set about contacting our creditors witht he aim of having all interest and charges stopped and us paying the full remaining balances back in full.

 

I have read endless posts from people who have gone with Step Change and others

and that only a few of the creditors have agreed to stop the interest and charges.

 

After a few weeks we have received 6 responses in total and all 6 have agreed to stop the charges and interest

and allow us to repay at the rate we offered.

Some of these creditors are also ones that have refused this to Step Change clients!!

 

I will keep updating this but please EVERYONE, sometimes it pays to take control yourself.

 

Your creditors are not all bad people. Be honest and be reasonable.

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well done

 

 

no PPI anywhere?

 

 

dx


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