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    • Yes she went back to them and asked them to remove the cancellation however the girl on the phone went to ask someone and came back and said she couldn’t.   Thing is they then tried to charge her £1000 to reinsure, I contacted a broker and got it down to £760, she went back to them and they miraculously could do it for £690!!  It feels like they are using this to fleece her, her previous ins was £300.   I will get her to write a complaint to them...do you know if there’s an insurance ombudsman she could contact?    I just feel it would have been fair fair to suspend the ins pending the court outcome!    Thankyou.
    • Hi,    Yes my daughter drove through a red light.   Yes her DVLA was still registered to her previous address at Uni hence them not being able to contact her hence the MS90.   This is her 1st car and she simply didn’t think to re register her car to our address she genuinely forgot!  However we left our forwarding address with the letting agent but the house was subsequently sold and the new owner used a different letting agency so communication was lost.   The courts enlisted the bailiffs and when the current tenant found her via Facebook she was genuinely mortified as she had no idea that she had broken this light.   She immediately rang the bailiffs and court who advised her to make The Statuary Declaration, whilst waiting for that date to arrive she thought she better ring the insurance company to explain what was happening thinking they may have to suspend her policy however they cancelled it on the spot she asked them not to but they just went ahead charging her £50 to do so.   At court after she explained what had happened the court dropped the MS90, and reduced the points and fine to what it would have been originally.   Going back to the insurance company they said they couldn’t remove the cancelled policy and it would show on her record for life and tried to charge her £1000 to reinsure!!  Previously it had been £300 as she had built up 2 years no claims.   I contacted a broker who said he could insure her for £760, she went back to her original insurance company, Admiral who then said they could now do it for £690!!  How can they suddenly do that sounds unscrupulous to me and that they are using this cancellation to now fleece her!!   She is a medical student and needs the car to get to the different places she is working on placement but can’t afford to pay this extortionate amount of money.  I would expect her policy to go up a bit but would say max £500 is proportionate?    I will I’ll get her to contact them Regards making a complaint in writing as you have suggested.   Thank you.    
    • I’m not sure who you mean by the OD and do you want me to see if the PDL is enforceable or not pay it at all?   And what should I do about the NatWest? Surly there’s a case getting it wiped if the charges came from them charging me for a PBA that I had told them to close and they said they had. Also am I paying the credit cards back in full or trying to get a reduced settlement?   Thanks Andrew 
    • Initial payments have already come in - we wouldn't have started otherwise. There's about £3,500 outstanding. The £800 was verbally agreed initially, but later correspondence from the customer shows that he's accepted the £800 for the extra work.
    • Each should send a cpr 31:14? Cant produce signed documents = no liability??
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Halpert87

31 overwhelmed with debt and scared

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@Halpert87 thank you and I will do, I’m only young so I panic and just try and get something sorted before checking all the details but iv read about Iva’s and they aren’t all negative and because I live in Scotland I’m only in a trust deed for 4 years (I think that’s correct) but I will keep you updated especially when it is all over and let you know my status x

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get things running and stable then we will start nit picking things apart if needs be.

 

as I've answered on kegimus own thread already ill not repeat what I will post there here

but SERIOUSLY never ever consider any around your neck things like IVA,DRO,trust deed, or whatever until every debt is check thoroughly 

 

 


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Have you never heard of  Debt Relief Order Halpert ?

 

Could be a quicker way to resolve your issues....yes the advice above would resolve your situation eventually but its a very slow process.

 

https://www.gov.uk/options-for-paying-off-your-debts/debt-relief-orders

 

Andy


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Posted (edited)

Thanks guys, It's so nice being able to have people I can talk to about this.

 

I have heard of DRO but I wasn't sure of what the difference was between that and an IVA. I also wasn't sure how it would restrict me financially in the future...

 

It stresses me out to think of debt collectors turning up at my home, or continually being harassed on the phone by them. 

 

I just want to get myself debt free, financially savvy and then I can make sure I never allow myself to get in this situation ever again. x

Edited by Halpert87

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@Halpert87 Iv said this to myself aswell, iv definitely learned from my mistakes and once this is all over I won’t be making any more stupid mistakes in future and I can look forward to enjoying my life slightly better and have more money for myself each month x

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@Kegimus That's the dream. I want to be debt free and living within my means. I don't want to go broke trying to look rich 😢.

Fingers crossed it's not too late for me to be able to get myself out of this mess x

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2 minutes ago, Halpert87 said:

 

I have heard of DRO but I wasn't sure of what the difference was between that and an IVA. I also wasn't sure how it would restrict me financially in the future...

 

 

 

Read the link...completely different to IVAs...12 months and you have  a clean slate...thats why I asked earlier if you owned your own home..as you dont you would most certainly qualify 


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@Andyorch So 12 months and It's all cleared? The only thing that I would be concerned about is that I have a car on a PCP plan... Would I have to give that up if I did a DRO?

 

I'll have a read into this now. In the meantime what are the major disadvantages of a DRO?

 

Thank you :D x

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There are many advantages to entering a DRO, there are also various disadvantages – each of which must be carefully considered before making your decision. Perhaps the biggest hurdle preventing people from entering a DRO is the fact that homeowners are ineligible to apply. Therefore, if you own your own home, you cannot apply for a DRO.

 

This financial restriction goes further, with only those with very low assets able to apply for a DRO. Furthermore, applicants must have less than £50 per month in disposable income to be considered. Such restrictions also apply to the amount of debt a person must have, with a DRO only granted if your total debt is less than £20,000. Another disadvantage to a DRO is that they are only available to people living in England, Wales and Northern Ireland. Residents of Scotland are not eligible for DROs and should seek advice on what similar Debt Relief Plans are offered in Scotland.

 

Another thing to consider is that the cons of a DRO do not stop once it has ended. Whilst most DRO’s end after 1-year and allow you to then become debt free, your credit rating will be affected for a total of six-years. This means that during these six-years you will find it extremely difficult to get loans and other related financial products. There are other problems with Debt Relief Orders, one being that they only cover specific debts – this means that even if you enter a DRO, some of your debts may not be covered, therefore meaning that you will remain responsible for honouring payments for these debts.


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@Andyorch This is interesting. I do not own my home, I believe the less than £50 would be about right and I guess for 6 years I wouldn't really need or want credit. As long as I can afford my rent, bills and living expenses that would be enough.

 

After 6 years does your credit score go back to a beginners rating?

Will I need to continually provide information over the 6 years of incomings or out goings?

Is this settled via a court or online process?

Will my PCP (Hire) car be taken away from me?

 

x

@Andyorch Would you say in your opinion that a DRO would be less damaging to me than an IVA?

 

Lastly, am I able to keep a debit account and debit card with a DRO?

My boyfriend is currently living with me, would his incomings affect my DRO status?

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I'm not sure to some of the above...certainly your credit file will be clean after 6 years.The rest you would have to take up with whoever deals with your DRO.

 

DRO is a small quick Bankruptcy process ...unlike an IVA which is completely different


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Hi Halpert

 

A Friend of mine went through the DRO process and came out the other side. After about a year of the DRO completing - EE Offered him a phone contract and Virgin covered him for Broadband with no issues. 

Plus now he gets a few letters through the door offering him credit cards etc with various APRs... 

 

It's only been  3 years since starting the DRO. 

 

Your mileage may vary... 

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DROs only last for 12 months ...he needs to check with his advisor


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are any of your debt from before 2007?

 

dx

 

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Hey guys,

 

Thank you again for all the information. Just a side note though (not sure if it matters) the header to this topic says Scotland... but I am not from Scotland I am from Sussex, England x

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my bad got confused with kegi posting on here .

 

dx

 

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

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Thanks @Dx100uk :)

 

I don't think any of my debts go back as far as 2007 but should I contact my creditors and get the dates that the accounts opened?

 

Also, my boyfriend lives with me. Will his income affect my DRO eligibility?

 

Many Thanks x

 

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We could do with some help from you.

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Thanks @Andyorch x

 

Also, I keep hearing that my PP debt should be ignored?? Why is this? x

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upto you

you might as well include it

but to all effect and purpose there is nothing someone based in Luxemburg can do to you

they don't abide by our rules anyway having run away to avoid paying £1b's in tax in this country.

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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.

 

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Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

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The CAG Interest Tutorial Read Here

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@dx100uk So they can't enforce it? That's so strange.

Ok I will include it if I go for a DRO or IVA.

 

I am reading as much as possible on both DRO and IVA's and trying to make an informed decision as to whether or not this is the right thing for me. I am struggling so much financially but I hate the thought of not being able to pay back the creditors.

 

My next question is:

Can I still send off the pro rata debt letter asking my creditors to freeze my interest whilst I look into the DRO and IVA's?

Or do I need to just go straight into a DRO/IVA situation?

 

If they freeze my interest do I then continue to pay back the minimum payments?

Or am I able to negotiate lower repayments?

Also, do I contact them myself or is there an agency I can go through?

 

I feel like I am slowly understanding the options available to me, which has eased my mind a lot.

I can't thank you all enough for taking the time to read my posts and help me out.

I have no one to turn to and you all feel like my friends now x

 

I like the idea of this: 

 

https://www.nationaldebtline.org/EW/information/10 ways to clear your debt/Pages/Options-for-dealing-with-your-debt-informal-arrangement.aspx

 

From what I can see this would not list me on any insolvency list and as such wouldn't affect my chances of getting a mortgage or credit in the future?

 

What are your views on the above? x

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pers I wouldnt touch an IVA with a barge pole.

DRO if you must take such routes

which is probably the best way for the future. as andy explained earlier

 

once you 'default' by entering into your own arrangement [our pro-rata stuff]

the defaults are there for 6yrs anyway killing credit.

but under the same breath, so is the DRO marker...

 

there is nothing to stop you doing pro rata..see how it goes

then switching if needs be.

 


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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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

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The only reason I don't want to enter a DRO unless absolutely necessary is because I was reading that when renting your home the tenancy agent can kick you out of your home for entering into a DRO or IVA? Also, I currently rent my car on a PCP and I could have that contract terminated too?!

 

If I enter into the informal negotiations with my creditors via the pro rata letter, am I correct in thinking that this wouldn't affect my renting status and the my hire car? 

 

What would I need to show them to provide income and outgoings proof? Bank Statements and Wage Slips?

 

x

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If you have a vehicle on a HP or conditional-sale agreement and it is worth more than £1,000, payments would not be an allowable expense in your DRO. Therefore, you would have to include the debt in your application unless a third party is willing to take over the agreement for you.

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