Jump to content


Recommended Posts

permanentI'm here looking for advice,

 

I got into some debt a few years ago after trying to manage money with different CC cards, a loan for 14k etc and wife lost her job putting us in around 24k debt. I went to stepchange I paid back around 4.5k over 3 years it currently stands at £19,700

 

however Stepchange DMP was crippling us financially on the little things you put down on a  DMP and I wasn't managing the money very well either to the point we had 2 catalugues while on a DMP and a store card with argos I didn't declare and we have just ended up borrowing on these. it got so bad I even took out a £1600 loan at christmas high interest £3500 to be paid back to pay off some of theses existing bills.

 

Adding onto this exisitng debt it's now going to be 29k I've managed to rack up another 10k ontop of my existing DMP which these companies don't know yet but soon I won't be able to pay them. So my total debt will be 29k come August/September.

 

It all started my wife losing her job, then doing uni for 2 years which is when I managed to pay back the 4.5k.

After she finished the course spec said they would more then likley got a job with the college as that would be the only place she could work with this degree.

This would have brought in 29k a year...

 

long story short we ended up borrowing from catalogues for things like my daughters birthday and Christmas presents.

The TV broke so had to replace it but it was all BNPL which has doubled the cost because we literally had no income for these things.

but this job never happened there was one space and they said she didnt score enough points in the interview.

 

This left us with no income to the point I spoke to stepchange and they reduced the DMP to £61 a month and suggested I went bankrupt but my wife wouldn't let me do this so we struggled on.

 

She got a call at christmas to say a job at come up for her to start end of January

I got this loan high interest £1600 that managed to cover some BNPL stuff.

This was £72 a month for 5 years however this job she was told was temp till August this year but not to worry as it will probably go permenant .

 

She got told 3 weeks ago that the local council have pulled funding and they won't be able to let her go permenant now and her contract will end 31 August this year.

it's just been one thing after another and we are totally drowning in debt and not handling money well at all.

ontop of this I have a 11k debt with childsupport and it was this that started the whole ball rolliing in crippling us while on the DMP.

 

I've told stepchange I will be stopping my DMP with them as I feel so ashamed to tell them we racked up more debt while on a DMP and I know you shouldn't do that.

 

I spoke to the wife yesterday and told her I can't do this anymore trying to keep up the payments she wanted to keep them in the first place with having no money in case something broke down and we couldn't replace them and it's just gone out of control.

 

I've told her I'm stopping all payments to stepchange inc the existing creditors I am with now so I have nothing on credit at all and starting again with my own DMP plan.

 

We need some serious help  we aren't managing money well at all and I don't even know where to start doing a DMP and looks simple on paper but using that in real life has been difficult. I've told the wife it's getting to the point if this carried on I wouldn't be coming home from work one day because all the debts are in my name.

 

I've told her no more credit it stops here I've stopped everything I've put myself in a position I can't get anymore credit and I don't want anymore I never ever used to live like this.

 

I really need some help I'm scared that ballifs will come take the door down one day when I'm at work and clear the house out if these companies go for a CCJ.

 

What do I do?

 

 

 

 

 

Share this post


Link to post
Share on other sites

no bailiffs cant do anything on consumer debt other than wave their arms

and they can NEVER get involved until you LOSE a court case and fail to arrange something within 28 days.

 

please list ALL your debts

 

original creditor

type of credit

when taken out

outstanding balance

is this on your/her credit file

what is the defaulted date

last payment date

if now with a DCA name them please

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Yup, you may very well find that most of this stuff is unenforceable.

  • Thanks 1

Share this post


Link to post
Share on other sites

Currently have credit with (not defaulted yet) This will probably happen in the next couple of months

 

Argos £850

Very £1000

Littlewoods £3,800 (half of that is BNPL) so if they took the interest off it would be £1900

Likely Loans £1,600 (£3559) with interest (took this loan out in December 18)

 

On clearscore it shows them as closed accounts (2017) and the amount as of today is:-

 

Cabot £10,995

Cabot £2,424

Intrum UK £1,156

PRA £1,108

PRA £2,427

Link Financial £1,597

 

Total debt will then be around £28,800 (£39,800) inc 11k child support arrears

 

Once the wife loses her job her final pay will be mid August if she hasn't managed to secure another job my September my income will be taken up on just general bills.

 

My current bills are

 

Rent £355

Child support £300 (inc paying back a debt of 11k)

CT £94

Mobiles x2 £64

Dental plan £11.50

General bills £360

 

This can be house inurance, car tax, VM (£84) looking to switch to sky for (£54)

 

£1200 is roughly what we pay out.

 

I earn around £1,350 a month (we get a small amount of TC £40 month plues Child benefit £80 month)

 

Leaving me with £270 to pay towards Debts and buy food as not taken food into account

 

I'm not going back with stepchange I'm going to try and do this myself writing to them.

 

If she gets a job I could probably pay around £200 a month back split over 10 of them which would take 10 years to pay back.

 

Child support ended up being the nail in the coffin when it went to CMS

they saw a short fall in my payments over 10+ years

their fault they admitted I hadn't been paying enough and my ex told them she wanted the 11K back so they have just been increasing payments as and when they feel like it

which ended up me having to drop my debt payments from £286 a month down to £61

this is how I ended up getting into further debt borrowing on BNPL on stuff and loans etc.

 

I was thinking of offering them all £7 a month each £70 which will leave me with about £200 for food?

 

 

 

 

 

 

 

 

Share this post


Link to post
Share on other sites

tell me more about these

 

On clearscore it shows them as closed accounts (2017) and the amount as of today is:-

 

Cabot £10,995

Cabot £2,424

Intrum UK £1,156

PRA £1,108

PRA £2,427

Link Financial £1,597

are/were you paying them thru PP?

 

if so send each one a CCA request.

 

as for the other consumer debts.

 

Argos £850

Very £1000

Littlewoods £3,800 (half of that is BNPL) so if they took the interest off it would be £1900

 

send them this:

 

offer them £5?PCM

 

as for

Likely Loans £1,600 (£3559) with interest (took this loan out in December 18)

start a new topic in the payday loan general section. [click create in the top red banner]

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Thanks for helping out guys it's really appreciated.

 

I will be stopping my DD with stepchange next month after they have taken payment and will probably default on the remaining creditors I haven't with already by the start of August. Stepchange will write to them and let them know I have stopped using them.

 

Do I wait for them to contact me first and then shoot off recorded letters stating I am now taking control of the DMP myself and ask for a budget sheet to be sent to me or I can provide one and ask for Standing order forms?

 

They were paying £30 to the biggest debt at 10k and the other 5 were getting £5+ a month =£61

 

However as I said Very/Littlewoods/Argos and Likley loans will be my next ones to default on.

 

I can roughly afford £70 a month from September so I could split the payments up over the 10 creditors of £7 each until my wife finds a job.

 

Total debt will be around £29k or if the ones I defualt on took there interest off it would be £23,900 I will try and ask them to do this.

 

Should I ever speak to them on the phone? or should I just do everything in writing (recorded)

 

PRA group are already buying up a lot of the debts and started ringing my home phone a couple of times a day. I've blocked them at the moment.

 

I appreciate all the help

Share this post


Link to post
Share on other sites
Posted (edited)

Do not engage under any circumstances on the phone, they are trained to trick you into agreeing to things.

 

If everything is done in writing by post, 

 

A. You are in control

B. There is a paper trail, postal receipts etc for you to defend yourself if they ever do go to court.

 

Rent, Council Tax etc should be the only thing you care about and the rest of your priority debts. Nothing will happen if you stop paying the one's that are with DCA's aside from a lot of idle threats coming through your letterbox

 

As above with the CCA's for the one's already sold off, highly likely they won't come up with the goods. One pound a month token payment, jobs 'a good 'un with the Original Creditors.

 

Everything else in your budget goes to food and emergencies, not the above bunch of vultures.

 

 

 

Edited by London1971
  • Thanks 1

Share this post


Link to post
Share on other sites

and don't waste money on recorded delivery!!

2nd class stamp is good enough.

 

if you wish to do a budget sheet that's upto you

but never fill out theirs.

 

and again if you want to send creditors that, its upto you

but you do not have to give them any of your pers financial info

NONE of their business esp a DCA!!

only a judge can demand that info.

 

 

  • Thanks 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Thank you guys this has really been helpfull

 

I've just gone onto my stepchange account ready to close it down with them and noticed they have DCA's down for payments that are different to my credit report which my credit report is upto date this month.

 

PRA for example are now the owners of 2 debts according to my credit file yet stepchange have westcote down for one of them.

 

Halifax CC debt has gone from westcot to Link Financial outsourcing yet until I got a statement today/looked at my credit report the other week I thought stepchange were upto date clearly they aren't so I'm not even sure at the moment who actually has some of these debts.

 

They'll know doubt write to me will these companies once stepchange stop paying them and I will setup a payment plan with them as they write to me.

 

Thanks again guys it's eased the stress a bit.

 

Wife has a job interview today so I'm hoping we'll know more later on once they call her

Share this post


Link to post
Share on other sites

wetcloths don't buy debts they only chase for their stated client...the recipient of your CCA not wetcloths.

link ARE debt buyer so they get the CCA request on that debt now

 

you DO NOT blindly set up any payment plans to ANY fleecing DCA without a CCA return that proves enforceable here

yes you'll get a whole forest through your door

but that's the idea.

it will get YOU upto date with whom owns what debt

then we'll deal with each debt as the paperwork comes or not mores the case!!

 

dx

 

 

  • Like 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

I need to ask something,

 

My debit card is registered with Argos/very/littlwoods.

 

Should I cancel my debit card and request a new one I'm not sure if they can still charge against my debit card without my permission?

Share this post


Link to post
Share on other sites

Guys I've now stopped payments on 2 of them likely loans being one of them who have already contacted me soon as DD was cancelled.

 

Should I contact them by email regarding my status or is it best to do everything in writing and post it?

 

I'm going to offer payments of £5 a month and was wondering should I do this right away or wait a while till they pass it onto a DCA?

 

If they reject the offer do I still make payment via options on their site debit card or not make any payments at all because they are rejecting it?

 

I'm new to doing this on my own so looking for a starting point.

Share this post


Link to post
Share on other sites

on the ones that are not owned by dca's yes pay what you said and when you said

if they write back create a new topic [hit create up the top in the red banner] in the named forum for the original creditor for that debt lets start getting things split off else it will be a nightmare .

 

never use email!! 

use royal mail 2nd class post is ok unless CCA request then use 1st class with free proof of posting from any po counter.

  • Thanks 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Ok after reading back the whole thread and looking around the forum think I am starting to understand.

 

ok so Likely loans/very/littlewoods/argos will be recent debt so I will be offering payments to them

 

The others I will be asking them for the original ownership of the debt with a CCA request.

 

I'll post back with an update once I've caught up with all these and take it from there once I hear back from them

 

Thanks again

 

Share this post


Link to post
Share on other sites

debts owned by DCA's CCA request

debts owned still by the original creditors ..offer payment

use the cag letters already pointed to

 

dx

 

  • Thanks 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

When doing a CCA request these debts are post 2007 I read today that laws changed for pre and post 2007 on CCA requests would requesting for them being post 2007 make a difference still?

Share this post


Link to post
Share on other sites

just type don't hit quote..

 

there is a diff

 

ultimately pre 2007 must be a copy with sig

post 2007 maybe not

to be enforceable 

but we'll advise when you get them back..or if!!

 

but don't worry about that kinda stuff yet.

 

follow carefully the advice given on what to do for OC/DCA owned debts

then we'll deal with the forest as it comes.

but please do as post 13 if you have anything specific to do with any one debt

 

dx

 

 

 

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

I've stopped payments on 2 of the current creditors Argos and Likley Loans and in the process of writing to them today with offers of £5 per month. payments were due start of this month so I haven't paid anything yet. Likley are like hot cakes calling me, emailing and texting about 9 times a day asking for payment.

 

Do I make any payments e.g the £5 yet or wait for them to get back to me regarding that payment? I'm not sure about argos but likely either offer DD payments or to pay online via debit card. I've asked for standing order forms in the letter getting sent out.

Share this post


Link to post
Share on other sites

I would do as you say 

pay by bacs not card nor so.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...