10 Years with PayPlan Review now due

[peteoaten]

HI,

 

Been with Payplan for 10 years now and my yearly review is now due. However for aslong as i have been with Payplan, paying various montly amounts over the years i just do not feel i am making any headway into my debts. I am considering managing my own DMP but really do not know where to start or even if this would be a wise decision. Payplan have informed me that they no longer think a DMP would be the best solution for me, and indeed in the past they have suggested IVA or Bankrupcy. Not sure i want to go down those lines.

 

Anyway here for a bit of advice and support on how to proceed really.

 

My debts are listed below figures taken from account at Payplan. Have checked my credit file which shows just 3 closed debts(the more recent ones) I also recently had 1 debt removed from payplan when i checked my account more closely as they had the same debt listed twice. Im really keen just to get my house in order, find out where i stand and get the debts cleared in a positive way and acually feel like im making headway.

 

 

1st Credit Ltd £564.67

History

National Austrailia Group 12/02/07

Barclays Partner Finance 27/02/07

Roxburghe International/David Rubin & Partners 12/04/07

Barclays Partner Finance 12/10/12

1st Credit Ltd 21/05/14

Barclays Partner Finance 10/12/15

1st Credit Ltd 10/12/15

 

Barclays Bank PLC £3471.48

History

Egg 28/07/06

Egg Prudential 28/07/06

Direct Legal & Collections 05/12/06

Barclays Bank PLC 08/03/16

 

Barclays Bank PLC £5031.74

History

BarclayCard 28/07/06

Barclays Bank PLC 28/07/06

 

CapQuest Group Limited £1594.14

History

First Direct 28/07/06

HSBC Bank 28/07/06

HSBC Bank 16/10/09

Cabot Financial (Europe) Ltd 13/01/12

CapQuest Group Limited 06/03/12

 

Capital One Europe PLC £1686.8

History

Capital One 28/07/06

Capital One Europe PLC 28/07/06

 

CashEuroNet UK £317.19 - this is pounds to pocket

 

 

Moorcroft Group PLC £2305.16

History

Vanquis Bank 26/09/12

Moorcroft Group PLC 02/04/14

Vanquis Bank 11/09/15

Moorcroft Group PLC 14/09/15

 

PRA Group LTD £5810.85

History

Egg 28/07/06

Egg Prudential 2 28/07/06

Direct Legal & Collections 21/09/06

Goldthorn Debt Recovery 30/04/07

Egg Prudential 30/04/07

Direct Legal & Collections 03/12/08

Egg Prudential 21825252 23/12/08

Direct Legal & Collections 12/08/09

PRA Group LTD 19/05/10

[AndyOrch]

Hi pete and welcome to CAG

 

Rather than IVA or Bankruptcy have you considered a Debt Relief Order ( total debt less than £20K) ?

 

http://www.stepchange.org/Howwecanhelpyou/DRODebtrelieforder.aspx

 

Regards

 

Andy

[peteoaten]

Thanks Andyorch, unfortunately i dint qualify for debt relief. My debts amount to just over 20k at 20.7k. Also, all bills are in wifes name, and the house belongs to the wife also, as she had a mortgage before we married, so that is all in her name also. I pay my wife one lump sum per month towards the cost of everything. My excess income is more than £50 per month. All but 2 of my debts were aquired before i married.

[peteoaten]

After reading a few posts in the forum, and considering the age of some of my debts and the times they have been passed to and fro, would it be worth sending a CCA to the ones with DCA?

[dx100uk]

IMHO yes - question everything.

 

 

dx

[peteoaten]

I have sent off CRA requests to 1st credit capquest moorcroft and PRA,

 

 

do the agreements have to be signed?

 

 

Have read in places on here they do not,

and other posts on forum say if the credit was taken out before 2006

they have to produce the signed agreement?

 

thanks

[dx100uk]

the critical date is APR 2007

 

if you took out the credit before this date

then to enforce any court judgement

then the signed agreement will need to be produce

 

after this date a 'true copy' or recon 'could' be deemed ok even without a sig from you.

 

the bottom line is judge lottery mind

 

dx

[peteoaten]

Hi again,

 

Just want to ask what i should do when i get replies if i get replies to my CCA requests. I am not trying to duck out of my debts but i also dont want to be cashcowed by a DCA if the debt is not enforceable.

 

As most of my debt is from 2006 i assume as said above they need to provide a signed agreement. If they cannot produce a signed agreement will this give me good leverage to make a full and final offer? I found a template from Citizens advice i think for a letter where they have to agree to not sell the debt on etc and release you from all liability from the remainder of the debt. Is that a good option?

 

I know the debts wont go away, however most have fallen off my credit file now, and after 10 years of paying a DMP i feel i have put effort into paying back the creditors and now i want rid of the debts as cheaply as possible. Not sure if that makes me a bad person or not, However if i can settle in some way half of my debts i can set up a decent DMP with the remaining debts to get them paid off ASAP. Frankly at this rate with Payplan ill be nailed into my box and 6ft under and still owe money.

[AndyOrch]

" As most of my debt is from 2006 i assume as said above they need to provide a signed agreement."

 

Not true they can serve a reconstituted version to comply with section 78 requests

 

" I found a template from Citizens advice i think for a letter where they have to agree to not sell the debt on etc and release you from all liability from the remainder of the debt. Is that a good option? "

 

Could you possibly post the template for the above?

 

Regards

 

Andy

[peteoaten]

Thanks for reply Andy, no i was talking about sending an offer to the creditors for Full and Final settlement of the debt.

[peteoaten]

 

Hmm, dont seem much point in sending a CCA request then surely?

 

Another option i am considering is bankruptcy.

 

As i understand it from April 16 you will be able to file for bankruptcy online.

I have no assets,

the house is the wifes house,

she had mortgage before we married and its all in her name.

 

All bills are in her name and i pay her a lump sum towards every thing per month.

She has an exemplary credit standing and always has.

 

Just wondering if anyone knows if me going bankrupt will affect her.

Will the house be considered as we are married even though its in her name?

Will the lump sum i pay her every month be taken into account or will it have to be paid into the bankrupcy?

[AndyOrch]

Hmm, dont seem much point in sending a CCA request then surely?

 

I would you will be suprised

[Old Cogger]

send the request