Owe Money on Lots Of Debts - looking likely to default-any Advice Please

[Heretolearn]

Can anyone advise

 

Owe

Vanquis 4,000

Capital one 1,000

Aqua 1,200

Marbles 1,000

 

looking likely they are all going to default this month,

 

 

offered £12 a month /token payment,

only capital one is playing ball

others are screaming for income/expenditure, which i refuse to do,

 

 

sent them proof i am in receipt of benefits,

still want income/expenditure,

 

 

over the phone(yep cajoling)and I will not give this to them,

what will be the likely outcome...?

will it be sent off to to DCA's in a few months? ,

after they get fed up of asking for income/expenditure..

 

 

.I am seriously considering a DRO as well,

 

And to add, all these cards were taken out in 2015

[postmn]

you will have to do yourself a income and expenditure to see how much you can offer all of them pro rata ,

 

when you have done the budget you have a amount left over and that is the amount you can offer to your creditors and not a penny more ,

 

citizen advice can help national debt helpline .

 

I cant see your problem about sending them a I @ E ,

national debt helpline has one that you complete and

one version is the one you send to your creditors ,

 

Since you are not sending them a I @ E I am not surprised they won't help .

 

I have just negotiated freezing of all interest etc due to a serve change of circumstances

so I sent them all a I @ E with a covering letter explaining the circumstances and all of them played ball .

[Heretolearn]

Thanks for your reply, mulling over it, I probably will just keep paying £12 a month to them , then do a DRO probably in December , my credit is trashed anyway , regardless of not doing a income/expenditure, currently it will take me years to pay them back

[renegadeimp]

First thing, write to them and explain. If you cant write, you can call, but you MUST record the call in full.

 

Dont do a DRO or IVA.

[Bazooka Boo]

If your only form of income is social security, then all they get is £1 a month each, so that is a fiver.

 

There is no legal responsibility to send anyone an I&E form, this is your own personal confidential info, and something for you to work from in paying your creditors.

 

Have you informed them that you are in financial difficulty?

 

Have you reclaimed any/all penalty fees they've added to these accounts?

 

Have they stopped adding interest?

[Heretolearn]

Hi

I have written two letters to them explaining my financial situation , and requested in both to freeze interest etc,

the last letter I enclosed a copy of my benefit entitlement, certain personal , i.e NI number redacted

 

I offered in the last letter a token payment of 12 per month, its actually less ( thats just a general figure) ,

 

 

i have already made 1 months token payments to them,

however all want a income/expenditure ,

I even called and spoke to each one to confirm they had received said letters and all said yes,

and still wanted me to spend 3o mins on the phone going through an I/E which I am not prepared to do,

 

 

we all know they are cajoling to squeeze every penny, and frankly its 30 mins I can put to better use,

as Uncle bulgaria quotes above there is no legal obligation to do this,

and I quoted this to them,

still they advised they will not accept a token payment agreement without I/E ,

 

 

I am not hiding anything, but if I am under no legal obligation to provide it, I will carry on making token payments to them

 

the worry i have about DRO is I am currently in the throes of operating a business start up , no income yet , and a dro may effect it, although it is in someones else's name (directorship)

[Bazooka Boo]

Don't worry about a DRO yet, cross that bridge when you come to it, if indeed you do.

 

Stay OFF the phone to them, ringing them is about as useful as teaching my cat to drive.

 

Keep everything in writing, TELL them that you're in financial difficulty, and for the next six months you will make them a token payment of £1 a month, this YOU will review in six months time and will inform them of any change.

As a reciprocal GOGW they will freeze any interest and charges to assist you in reducing the amount.

 

Have a look through the letter templates in the library above, ensure you keep a diary of events, copies of everything you send them, and always always, obtain 'proof of posting' which is free from the PO counter.

 

If they ring, laugh and hang up, keep a diary of their calls, if they persist, then tell them ''everything in writing'' and hang up, and follow it up sending the telephone harassment letter.

[dx100uk]

if you've sent them the 1st letter from the debt collection section of the library

and they are refusing

send them the 2nd one that states

shame you didn't help me

now you are only getting £1PCM

 

 

agree not to send any the I&E too

none of their business

as all they'll do it sell it on to a DCA sometime soon

and you most certainly want them having that info!!

[Heretolearn]

Thanks Bazooka Boo for the advice, I have researched on here loads,...probaly see another thread of mine that is currently ongoing, was just confused slightly on the I/E as there seems to be a difference of opinion on this

Yeah I am keeping copies of everything Send, and proof , yeah will stay off the phone and now block them, may even send another letter the third asking to freeze interest rates etc

 

@dx100ukThats why I am loath to give the I/E to them

[Bazooka Boo]

Then don't.

[Heretolearn]

Thanks , would not know how to get through without this board, these cards were not spent on luxuries or frivolous stuff, basic living ,I was not a JAM even!!

[Bazooka Boo]

Any of them that fail to help you, and freeze interest, stop charges, then they get £1 a month for the life of the debt, end of.

 

If they won't play ball then you can award them the minimum legal token payment, and they'll have to lump it!

[Heretolearn]

Thanks Bazooka Boo, yep took that on board

[Heretolearn]

Ok , an update to this thread...

 

I have , since last October 2017 been paying a token amount each month

...despite various begging attempts by DCA's all token payments are going to the OC'S ..

..and they have been accepting payments via standing order ,

 

I have another one coming up , a certain mobile company who I cannot afford to pay and will default ,

again I am going to set up token payments with this company even though they said it will be farmed out to DCA ,

 

I have only ever contacted these OC's by letter...never called or emailed, so hopefully this helps people

[dx100uk]

and hows the credit file looking now

have these debts been sold on yet or still owner by the original creditor/provider?

[Heretolearn]

Ahh 90% have been sold to a DCA, who are constantly through letters telling me i need to set up an account with them...which i ignore and credit file never looked at it

[dx100uk]

if you have had notice of assignment on any debt and its now OWNED by a DCA [no harm in checking credit file to verify this] its free!!

 

the send each one that HAS been sold on a CCA request.

 

as a point of order too, have you moved since attaining any of these and were the Original creditors aware of your CORRECT address now..

[Heretolearn]

No not moved...aware of the backdoor CJ ....

Will check credit file and then CCA Request...im curious about Cabot who are one of the DCA...who claim the token payment is going to them...

[dx100uk]

probably is in more than one case too.

most OC's will fwd on your payments.

 

dx

[Heretolearn]

Weird that I am ...apart from very...getting statements from OC

 

probably is in more than one case too.

most OC's will fwd on your payments.

 

Yeah...have now been thinking of actually reducing the payments by 90% if that is the case

[Bazooka Boo]

£1 a month no more no less.

[Heretolearn]

Totally agree...i'm heading that way

[Heretolearn]

Okay 

this is a continuing saga of this thread.

 

..I received a letter from lowells  solicitors regarding a Very Debt ,saying they will issue a county court claim within 30 days if I don't respond ...would it best to wait a couple of weeks and send a request for a copy of the agreement...etc 

I have not been in touch with by Post/email/phone de to sorting out universal credit issues 

 

[dx100uk]

Is this a letter of claim?

[Heretolearn]

Ah...noticed its not...its a letter outlining all charges, and then a 3 page questionnaire/information sheet asking for information i.e incomings/outgoings (seems a fishing letter)...with the phrase(s)such as  you have received this notice a business intends to take you to court in relation to a debt...and other phrase(s) such as if not sent back in 30 days it could result in court action....