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Trying to sort out my debts


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Hi there folks.

 

I'm in need of a bit of advice please. So i owe a lot of money to a lot of companies. Some are being paid monthly minimum and there's a few which are being dealt with by debt collectors ( Ive contacted them via letter asking to make token payments already)

 

I regards to the several credit cards i have, i'm literally just paying the interest every month and the balance isn't going down. I cant to pay any more than that.

 

I'm thinking of sending them all letters asking to freeze the interest and accept monthly payments of £10 ( which is around the same as the min monthly payment anyway ) What are the chances of them accepting this?

 

The companies in question are Capital one, barclaycard and vanquis.

 

Many thanks, Amy.

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yes good idea

you have of course sent everyone a CCA request? haven't you?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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you should have done that years ago

from your other threads

looks like you could be being cash cowed blind here

esp if you've been paying to a DCA for years.

 

can you list your debts?

for each tell us

 

original creditor

what type of credit

the date you took this out

who you paid now

is it defaulted on your credit file and the date if it is

outstanding balance.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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That might take a while. Some have not come after me yet.

 

I have

2 personal loans from Lloyds ( Both defaulted, 1 passed onto Moorcroft )

Over draft with Lloyds ( Account frozen and nothing happening )

 

Credit Cards

American express ( Defaulted and passed onto NCO)

Barclaycard - upto date on payments

Capital one - upto date on payments

Vanquis - upto date on payments

 

Catalogues

Very ( monthly payment plan in place and interest frozen )

Studio - upto date on payments

Littlewoods - upto date on payments

 

Other

Argos card - upto date on payments

Paypal Credit - upto date on payments

Drafty - upto date on payments

 

I think that's them all. Most were taken out within the past 5 years.

 

Just checked my credit report.

 

Only the 2 Lloyds loans and Amex have defaulted.

 

Very states unknown as im paying a monthly payment and everything else upto date including my Lloyds bank account which has a extremely large unpaid overdraft on.

 

Very confusing!

Edited by dx100uk
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ok not as bad as I thought

I'd go with you initial idea then

send the lot a letter offering £xx for xxMTS if they freeze all interest and charges.

there is a good example in the debt collection section of our library

 

see what they say.

I'd start paying this new sum to each regardless now to show goodwill on your Behalf.

 

all ok?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Does this look good to send? Ive tried to personalise it as much as possible without being too confusing.

 

I am writing to ask if you would be willing to freeze the interest on my account and accept a payment of £10 monthly for xx months to clear my debt.

 

I enclose a budget summary which shows my total income, and my total outgoings. As you can see I have only £10.42 per month left to offer you.

 

I have worked out the offers I have made to my creditors on a pro-rata basis and I have written to all my creditors asking them to accept these offers.

 

Because of my circumstances please agree to accept the offer of £10per month. If you are adding interest or other charges to the account I would be grateful if you would freeze these so that all payments I make will reduce what I owe you and the debt will be paid off in full sooner.

 

If my circumstances improve, I will contact you again.

 

I would be grateful if you could provide details to set up a standing order to make it easier to pay you. Thank you for your assistance. I look forward to hearing from you as soon as possible.

 

Yours faithfully

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pers I'd not be as polite..id demand they freeze charges and interest else I will retrace my generous offer

 

use bacs transfer on your banks interweb portal. don't await SO details

 

I'd also get any income you get removed from any bank account you owe money on or cards with the same bank

 

open a parachute account and pay your income to them.

stops anyone off setting.

which they can and might well do as soon as you alert them you have issues

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I personally would approach softly softly..you cant demand anything....they are on the higher ground at the moment.....and standing order is preferable to bacs transfer..then it can be done automatically.

 

 

Andy

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We no longer use the Lloyds account and set up a Flexi account with nationwide. All our money goes to that account now.

 

I prefer to pay by standing order as i have full control and wont forget to pay that way. I pay a lot of bills with standing orders.

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