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Hi everyone, I am looking for advice on how to proceed...

 

Short recap on past....

Worked away...

Got hit by the O&G downturn after 18mths.

.. found out that wife had maxed various cards whilst working away.

Debt started increasing drastically with no income and kept paying bills...

 

We Separated, but I kept paying all house bills as ex wouldn't move out with kids so I could rent it and eldest going through exams and I didn't want to disrupt him...

 

Eventually had to stop paying bills as I couldn't afford it as debt was still increasing...

House almost got repossessed but sold it literally at the last minute putting repossession on hold....

 

I have £25k in debt with 5 lenders who have other companies collecting / sold debt to..

 

At the minute I have all of them on a 0% interest but only paying £18 p/m to each of them

 

TSB: 

CREDIT CARD ( Moorcroft) £2500. ( 18p/m)

LOAN ( Westcot)£2700 (18p/m)

OVERDRAFT (Moorcroft) £1700 (18p/m)

 

BARCLAYCARD : CC ( Robinson way) £10630 (18p/m)

 

NATIONWIDE: CC £2200 (18p/m)

 

MBNA: CC ( PRA ) £3100

( I have asked PRA for a breakdown in payments and debt as I was paying MBNA direct and when they took over the debt they asked for didn't match what I owed MBNA.( Presently not paying as they have not supplied anything as they said they would get back to me)

 

American Express: CC ( This is on my file as being owed but I've had no one asking for collection.) £2800

 

I have some money from the house sale

 

I  would like  to get my own house and use the money as a deposit but my credit rating is sub 500 and I would struggle to get a mortgage but I would still save from renting.

 

I could pay 70% of the debt, still have a bad credit rating and no money for a deposit and still renting and still owe....

 

I could try and get a reduced payment settlement to save money but still have it noted as not paid in full and credit rating still be terrible and struggle to get mortgage...

 

I could just keep them all on 18p/m and buy a motorhome... pay off extra when I can with money saved from renting.... 

 

I have not been in the situation of having money in the bank for a long time and want to sort myself out..

 

. I would very much appreciate any advice guys...Thx

 

 

 

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2 hours ago, Tar-Ten said:

TSB: 

CREDIT CARD ( Moorcroft) £2500. ( 18p/m) - when did you take this out?

LOAN ( Westcot)£2700 (18p/m) - when did you take this out?

OVERDRAFT (Moorcroft) £1700 (18p/m) - when did you take this out?

 

BARCLAYCARD : CC ( Robinson way) £10630 (18p/m) - send RW a CCA request

 

NATIONWIDE: CC £2200 (18p/m) - when did you take this out?

 

MBNA: CC ( PRA ) £3100 - send PRA a CCA request

( I have asked PRA for a breakdown in payments and debt as I was paying MBNA direct and when they took over the debt they asked for didn't match what I owed MBNA.( Presently not paying as they have not supplied anything as they said they would get back to me)

 

American Express: CC ( This is on my file as being owed but I've had no one asking for collection.) £2800 - forget about is stuff and all they can do,

 

as for needing pay any of them

they should all now have a defaulted date

you paying wont change that nor improve your score.

the whole account vanishes from your credit file on the defaults 6th birthday (does mean its still owed..possibly!!..mind.)

 

dx

 


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

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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TSB: 

CREDIT CARD ( Moorcroft) £2500. ( 18p/m) Start date 06/01/2014.   default date 10/11/2017

LOAN ( Westcot)£2700 (18p/m) SD: 20/05/2011.  DD: 17/10/2017

OVERDRAFT (Moorcroft) £1700 (18p/m) SD:17/08/1998.    DD: 25/11/2017

 

BARCLAYCARD : CC ( Robinson way) £10630 (18p/m) SD: 21/10/2010.    DD: 29/02/2016 ( This shows as £12716 on credit file, however I got a letter through from Barclaycard saying that they had mis calculated fees etc and were knocking £2100 off it and would pass it on to Robinson way. 

Robinson way keep sending me reduced settlement figures of approx 50% of the £12716...

 

NATIONWIDE: CC £2200 (18p/m) SD: 18/03/2014.   DD: 17/11/2017

 

MBNA: CC ( PRA ) £3100 SD: 04/07/2014.  DD: 30/11/2017

( I have asked PRA for a breakdown in payments and debt as I was paying MBNA direct and when they took over the debt they asked for didn't match what I owed MBNA.( Presently not paying as they have not supplied anything as they said they would get back to me)

 

American Express: CC ( This is on my file as being owed but I've had no one asking for collection.) £2800 SD: 30/01/2014.  DD: 26/06/2016 ( I have letters from NCO Europe limited ( 10/12/15) who Amex put onto me. After I queried the account they replied stating that Amex has instructed NCO Europe to close my account with immediate effect

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Stop paying the od

a 1998 ac OD will be 99% penalty fees and int

 

Where does any income go..into a parachute account no-one can dip into i hope..without your knowledge

 

Ive moved you to the debt self help forum

Read a few threads in this forum

 

As for the rest cca time as already advised

 

 


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

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Thanks for reply... The account was opened in 1998 and I did have an ongoing overdraft over that period but really only became used all the time at the nd of 2016 to the default date.

 

Parachute account.... I have a bank account with none of the previous listed for income etc.... Are there specific accounts I should look at???

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as long as the ac that gets your or any income cannot willy nilly take your earning with fees etc...then that's ok.

 

I would most certainly not pay anything to a powerless DCA that has an old OD debt.

why do you think the bank sold the debt on? and not take you to court and crush you eh?

but chose to sell it on for 10p<= £1?...cause the debt is unenforceable.  stop paying them.

a dca is NOT A BAILIFF

and has

ZERO legal powers on ANY debt.

 

read a few threads here

https://www.consumeractiongroup.co.uk/forum/124-debt-management-and-debt-self-help/

you'll soon have your eyes opened.

 

dx

 

 

 


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

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Ive just been looking more in depth at my Experian... 

 

Where I can see likes of MBNA listed as a balance £0... next to it it has PRA with the balance and a note under mbna saying it has been sold..

 

This is the same with Barclaycard and Robinson way..

 

However all the TSB are just listed as TSB so it looks like they are just using Moorcroft and Wescot as collectors and have not sold it to them... Does this change anything?

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better to get reading up...

 

a dca that states our client is...the original creditor can be totally ignored and even more powerless...

 

even more so than one that owns a debt now....

 

 

 

dx

 

 

 


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

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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