£25k to eight creditors - getting to me - help!

[puddleboots]

Hi all,

I really need some straight advice.

 

I've just discovered this site..

..it has so much information that my head is spinning.

 

I'm really not sure where or how to start dealing with my debt.

 

I have debts of just over£25k to eight different creditors.

Very,

Isme,

Marisota,

Barclaycard,

Aqua (2)

Vanquis and

Next.

 

I've been with them from between 5 and 10 years.

 

Due to a change in finances (im self employed) I haven't made a payment since January.

I feel so ashamed! But I just cant afford to.

 

I have just £131.62 left over each month which calculates to just £16.45 that I could now offer each creditor.

 

I don't think they will be too happy with that but I can't afford to pay any more as I have already drastically cut all my expenditure

which I also worry about as I dont have anything put away for kids xmas/birthdays etc...

 

.I'm so very depressed and feel I have failed my children by getting myself in this situation.

 

my daughter has a heart condition which may prove to be fatal within time....perhaps another 5 or 6 years.

 

So with this in mind I wonder what advice others may have,

I went to the debtchange website,

filled out the expenditure form and

they recommed I take out an IVA which would be paid off in 5 years with whats left over written off.

 

As Im now a full time carer to my daughter my finances arent going to change much

and the thought of having and giving very little to my daughter just makes me fall apart.

 

What can I do.

 

I haven't spoken to the creditors as the ones I have 'Very' and 'Isme' were really horrible.

 

I just cant face talking to anyone.

 

Please help x

[puddleboots]

Thank you all so much, I've read each reply carefully and spent all yesterday and last night reading other peoples experiences.....gulp!!

 

I'm not sure if I could ever be that assertive although I suppose I have made a start by removing head from sand

 

OK, as requested I have all the details that I think you might need.

 

I've checked my credit file and this is what it says;

(although I know that on some accounts I've had longer than they are showing

- maybe they just show from a max amount of years, but some Ive had longer than the 09 date it's showing.

 

1. Aqua (cc) balance £0, (actually £3475.52 ) account opened March 09

shows 5 missed payments from Oct 14 up to Feb 15 and 2 other 'I month' missed paymets in 2011 & 14.

I'm sure I received a notice of default from them but I think I put it in the recycling....yes, I know....sorry!

 

2. AQUA (cc) balance £2515, account opened Oct 12, two missed payments Jan & Feb 15

 

3.VANQUIS (cc) balance £3330, opened July 11, 2 missed payments Jan & Feb 15.

I have recieved a Notice of Default asking for £429.28 to be paid by 29th March...or else!

 

4.BARCLAYCARD (cc) balance £3022, opened March 2009, 2 consecutive missed payments in 2010 and now Dec and Jan,

although I haven't paid Feb or March this isn't yet showing.

 

5.MARISOTA (catalogue) balance £2582, opened Sept 2009, showing 2 missed payments for Jan and Feb this year and 4 singular for 2010 and one 2009

 

6.VERY (catalogue) balance £3170.42), opened June 2011, showing 1 missed payment for Feb

 

7.ISME (catalogue) balance £3685, opened Aug 10, showing missed payments for Jan & Feb and 1 in 2011. They have sent a letter saying debt will be transferred to Nationwide Debt Recovery on 12th March although I haven't recieved anything from them yet.

 

8.NEXT (store card/catalogue) balance £3709 opened 09, showing missed payment Jan and Feb although i know I missed Dec but that is showing as being paid for some reason.

 

So all have recieved late payments, charges etc but just for the few months I've missed as in general I have managed to rob Peter to pay Paul quite well!

 

Bonus Debt Alert..

..which I didn't mention before as I'm confused and that is I also have two overdrafts with Natwest which I always rely on.

 

One for £1500 and the other for £2500.

My credit report is all green with them but I always seem to go over each month and end up with lovely charges.

I don't know what to do about them as I'm worried that if I make a fuss they will take back their overdraft

and keep any money that gets paid into my accounts.

 

Oh, also I have a C/C with them too for £450 which I pay for the same reason (payment is just under £10 month so manageable).

So debt is really around £29000 ish

 

Actually just reading back advice....should I of listed each debt in a seperate thread? Will do if you think it's easier to reply to....there is quite a lot.

[puddleboots]

Thank you SabreSheep, I feel encouraged already

 

I have just opened up a new basic bank account online (yeah) so when I get the documents through the post I will then transfer all my bills/payments over then send the Natwest and the rest my I/E which I'm nearly finished.....

[puddleboots]

Bazooka Boo you do make me laugh Thank you so much

 

I don't think there is any PPI on any accounts but yes they have aquired charges in the last few months, not so sure yet how much, I will have to go over each account to tot it up.

 

My bank accounts though have had a lot of charges.....loads and loads over many years 14 +. Am I right in thinking that I can claim back all the £35 charges within the last 6 years but not the £6 charge that they now charge as this is seen as a reasonable amount?

 

I've seen £12 late payment fees and admin fees on my c/c and catalogues, in one I've just picked up I've been charged two £12 admin fees on the same day for that month....is this seen as reasonable? Am I able to claim this back? I know the answer is somewhere in the forum....I've read so much in the past 24 hours but I couldn't see anything for catalogues....do they still come under what I've read about re the bank charges?

 

If I were to claim back charges is this something I would do after I send off my I/E form and letter?

 

Thanking you in advance

[puddleboots]

Thanks, Ive opened a Halifax account now so I think after a quick check they should be OK....

[puddleboots]

Okay, I've now finished my I/E form and I was looking for a template letter to send with it but I couldn't find the right one.....there's millions!

 

So would a quick covering letter saying,

 

Dear Sir/MAdam

 

with regards to your recent correspondence reguarding account no. xxxx I would like to inform you that I am no longer able to keep up with those payments at the amount you have requested. I have enclosed an I/E form for your perusal and look forward to hearing from you.

 

 

 

Kind Regards

 

Me

 

 

 

Is that OK? Or is it too Short and sweet?

 

Thanks x

[puddleboots]

Oh my! I'm glad I checked now....I think I'm going to have to be a lot tougher....what if they ask for the I/E ?

 

I haven't sent if off yet, I've just now worked out how much I can afford to give them and I don't think they will be impressed.

 

I have to say though I am a tad worried that if they don't accept it they might take me to court....would I have to actually turn up if they did....

 

Thank you so much dx for your advice

 

Okay...letter typed out and printed as suggested, typed signature, no I/E form enclosed!

 

Boots on, coat on and off to the post office....

 

Fingers crossed...

[puddleboots]

I've already sent the letters off to everyone except my bank as I am waiting until I get everything transfered over to my new account first.

 

I was then going to have a look as I think there will be charges I can claim there but I don't think there's many charges on the other accounts as until the last few months i've always made good payments and what has been applied is around the £12 mark which I think from what I've read is thought of as a 'fair' charge. It's always just been the huge interest that they charge that's been the problem for me.....

 

Anyway, I've given myself a good talking to.....as have you guys and I'm going to be a lot more assertive from now on....and i shall continue to read up on all the info you have here....to be continued....

[puddleboots]

I've had this email reply from Vanquis saying they wont accept my offer without an I & E form. I just wondered if I should send the one I used to work everything out - it is quite comprehensive and covers everything....what do you think?

 



Dear *******

Thank you for your email and your offer of repayment.

Unfortunately, I am unable to accept the offer of £10.69 without completion of an income and expenditure via a telephone conversation. The following offer can be accepted via email without completing an income and expenditure.

To assist you further, following receipt of the first payment, interest will be frozen.

 

1. MONTHLY AMOUNT: £71

*Payments must be received by your monthly statement payment due date.

2. REPAYMENT PERIOD: 48 MONTHS

Repayments are subject to periodical review and on completion of arrangement the account may be closed without prior notice.

3. Should the arrangement be broken at any time, we do hold the right to remove the arrangement.

4. If you are at any time unable to meet the monthly agreed amount, please do not hesitate to contact us as we may still be able to assist you.

If you would like to agree to this arrangement, please text YES to 07860031831 with your full name and postcode. Alternatively, you can reply to this email with confirmation. Please note that this offer is only in place for 14 days. You MUST reply to us within this time frame, or your account will face further debt collection activity which may include but is not limited to; Home visits, further Debt Collection Agencies, and/or continuation of interest.

If this offer is unaffordable please call 03300993101 to complete the income and expenditure. Alternatively our team who are designed to deal with people in financial difficulty will try and contact you in the next few days.

Telephone: 01143272213*

Email: [email protected]

Text: 07860031831

Our opening hours are:-

Monday to Thursday 8am to 8pm

Friday 8am to 6pm

Saturday 8am to 1pm

Yours sincerely,

Nicola Fieldsend

*Calls to 01 and 03 numbers are generally included in the ‘free standard rate minutes’ of landline and mobile packages; please check your plan. Otherwise calls to 01 and 03 numbers are charged at your standard rate, which is 9p per minute from a BT landline.*Calls to 0800 numbers are free if made from a BT landline. Calls from mobiles and other networks may vary.

 

Vanquis Visa Card is issued by Vanquis Bank Limited whose registered office is at No. 1 Godwin Street, Bradford, BD1 2SU. Registered number 02558509 England. Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

[puddleboots]

Ok, thanks. The balance is £3300. I will send off an I & E form, then hopefully she will accept that.....I'm quite confident that when she looks at it she will see there is little room for manoeuvre.

[puddleboots]

Ok....just wondering though if sending an I & E form would be detrimental at all....I wont send it in if there's a good reason for not doing so but if it means that they will accept my offer (which I want them to) then what other alternative is there othere than going to court to get the same result.

[puddleboots]

Thanks all, yes that's really helpful. I had already used your budget sheet to work out my finances.....I'll send that off then. Thank you very much

[puddleboots]

Ahh, I see, thank you Bazooka Boo....sometimes I'm not so good at filling in the gaps so yes your reply was extemely helpful

 

I'm a lot more relaxed now and I feel not so pressured into doing what's right for them rather than doing what's right for me..

.. I do feel a lot more optimistic now.

 

It is important that I begin to feel worthwhile again and I wont let these people dictate that what is best for me is making them number one in my list of priorities..

...much to the detriment of my own and children's lives...

...sorry children, no dinner tonight but we can all be happy with the thought that we have met Vanquis' payments this month.

...it's crazy to think that I was actually putting the credit card company before my own children's needs..

 

 

...thank you all for giving me a cyber shake of the shoulders!

[puddleboots]

Hello all

 

I have a question;

 

Can I CCA request via email and not send the one pound as I would if I sent it via the post. Whats the one pound for anyway? If its for postage then am I right in thinking I can just email them the reques?

[puddleboots]

Ah, ok, thanks Andy,

 

One of my creditors has already ignored my previous request for this and I have now recieved solicitors letter

saying they will take me to court for a ccj where they will request monthly payments of £50.

I dont think the court would do that as I cant afford that much but its frustrating that they have ignored my request.

 

I just wondered if I should ask the solicitors for the same information, thought email would show that I actually did send it.

 

I emailed them asking for more time (as stated in their letter) as I'm now unsure what to do, but they haven't got back yet.

 

Wondering if their plan is just to ignore me and go straight to court.

[puddleboots]

Thanks Andy,

 

I'll wait it out then,

 

Regards P