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    • Hi there, Just a query regarding Savvy. I took out a loan with them in October 2019 for £750. This would be repaid over 52 weeks at £28.27 per week. I maintained payments on a regular basis until 20th March 2020 by which time I had paid a total of £565.40 (20 repayments of £28.27. I notified Savvy by live chat that I had been furloughed on 23rd March and would struggle too make repayments. i also emailed them on 27th March with confirmation of my furlough. They asked for Income/expenditure - not unreasonable but the template they asked me to use was shocking to say the least. I then sent them my own version drafted with help from National Debtline. This is a self service budget that I can amend and save as necessary.   Long story short and I am now back in work and my wages are back to normal. However, i am required to move house for personal reasons and the current landlord wanting the house back - well notified so there is no issue there. I have also kept Savvy up to date, especially as my family have suffered mental health issues in the early part of this year. Again i have notified Savvy, filled in a new IE form. This is the response I received.   Thank you for your email.   I have updated the income and expenditure form based on the information you have provided which shows you have a minus disposable income of £66.86, we allow £50.00 emergency cash which leaves a minus disposable income of minus £116.86.   Can you please confirm how you make up the deficit each month?   When the loan was issued in October 2019 an income and expenditure form was completed with you, can you please confirm the reason the following has increased.   Rent/ Mortgage has increased by £1,162.00   Housekeeping has increased by £580.00   Household Bills has increased by £507.40   Car/ Travel has increased by £123.80   Social has increased by £150.00.   Due to the changes to your financial circumstances we would need to see a 90 day copy of your bank statement.   Please find below a link to a system we use calls open banking, please click on the link and log in your online banking details this will automatically generate a 90 day bank statement.   LINK REMOVED.   I have placed your account on hold until the 12th August to allow time for the bank statement to be sent in.   They have now issued a default notice.   Any advice would be greatly appreciated before I initiate a complaint against Savvy. I have maintained reduced monthly payments in line with what I can afford. Is it reasonable for Savvy to ask for access to my bank statements. They did not ask for them when I took out their loan.  
    • Click on the SAR link. They will send you everything, that they have on you, screen shot's , emails, etc.  You will be looking for, and will easily find the date that a default notice was sent out, and sold to Cabot. If the default date is before your last payment date then it will be statute barred in 3 months.   Providing the DCA has your current address I really don't think you have anything to worry about. 
    • Is it possible to see my defaults from over 5 years ago anywhere. Not showing on my credit file. I downloaded the whole thing from experian. 
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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 ive got them now to read through and also got a pro rata form . 

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So sorry

but just to check

do i write to all these about the debts and try get deal to reduce monthly payments and stop all interest first or do I stop payments then write to them ? 

 

Same if I was going for the DRO option

do I just sort out and apply for that first or stop all payments then apply for it .

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you can't continue the payments eitherway ...think about it...............

so it makes no odds if you stop payments now does it...

 

it can't harm you by stopping else they'd be no point in either dro or pro-rata as it shows either would thus be pointless

 

pers i'd go DRO simply contact an approved intermediary


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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Ok thanks guys for all the help & advice

 

I think I will go the DRO option but will open a new bank account somewhere else first etc. 

 

The only other things im little worried about is reading on the DRO it says about I wont be able to apply for credit but what about things like my car insurance as thats classed as credit paying it monthly

 

Plus they say i must not have assets or car worth over £1,000 so what about things like my car worth around 2.5k and as said before when my father passed away he left me his camper that I cant part with its worth about 4k and what about things in house and jewellery etc ??

 

Can they come to house and check and so on

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Depends what the actual book value is, I'm guessing a few hundred quid either way won't make a difference. Besides I would imagine the fact that you are a carer and your wife has a serious disease might make them think twice about taking it away. It's not the time of Charles Dickens anymore.

 

It's also worth noting that we are in the middle of the biggest economic and health crisis in our lifetimes, half the country is getting behind on loans etc. You might be surprised how much forebearance there is right now. If you wrote the pro- rata letters. You have nothing to lose and could still go on a DRO if you wanted to.

 

Whatever you do, your credit will be hurt for a few years, but no matter how bad mine got, believe me far far far worse than yours, i was never declined monthly car insurance. 

 

Not saying a DRO isn't right for you but your no thinking clearly right now, and your going off in all directions and in my opinion using a JCB to try and crack a nut.


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Ok so lets say i dont even say or show ive got the camper will they check somehow and will they or can they come to house and check what assets there and so on

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Calm down you are acting like you are under pressure. You are under no pressure.

 

Bad decisions are made in this situation. Take the weekend off, it will make no difference.

 

These things move at a glacial speed, you are acting like, it’s all going down tomorrow.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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if will not be  not paying your debtsas you'll have a dro ...then you'll have the money to pay the insurance in one hit soon , so save up.

 

as for the camper van and jewellery, they don't count and ofcourse no-one can come around.

debt is not criminal in this country and the stazi don't go looking at homes.

 

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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ok again thanks for all advice , im going to continue and struggle on paying the wifes debts and maybe look at getting reduced payments but as for mine i think ill go down the DRO route and try get it sorted but will see and open new bank account somewhere first

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Ive opened new bank account etc now so sorting out to get our money etc paid in there .

 

Im then going to cut off contacts with old bank and other debts and apply for DRO .

 

But do i add paypal to the list for DRO or forget about paypal like you said in other messages ?

 

I just want to make sure because i dont want to apply for DRO and then later on paypal comes back to bite me and then i wish is added it .

 

Sorry to be a pain guys but I just want to make sure and to date ive not had any letter or anything from paypal just couple of emails

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Forget paypal

 

And  see if the forest drops thru your door before you go dro...


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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Sorry dont understand Forest ? I take it you mean loads of letters 😀 from paypal or everyone

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yes..but forget paypal..


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 applied for the DRO and its all being set up ready just got to send them final bank statement etc now then its all systems go.

 

But back to paypal

ive had no contact from them at all in all this time until today

ive had in post a letter from Moorcroft debt recovery limited in stockport saying they have been instructed by paypal to recover the debt and are asking me to contact them straightaway and make payment or agree to come to a payment plan and telling me they are now dealing with it and not to ignore this letter.

 

I can upload copy of letter if want.

 

So my question again now is 

I dont want the DRO all going through and then later on paypal comes back to bite me and be left having to pay then i wish I had added it to the DRO.

 

So what do I do ?

 

Do I add it to DRO or still ignore it

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it can't hurt you to add it to the DRO

but i think you will find as its a foreign registered company/debt

it won't mean a thing to them and the DRO will be all but ignored. 

 

as you safely can with a PP balance debt that does not involve a PP UK credit registered company.

 

there are no examples of PP going anywhere near a courtroom in the uk themselves...

nor of them selling the debt to a UK debt buyer and them trying.

choice is yours.

 

well done on the DRO

 

please keep us updated as it will be a useful thread for people thinking of a DRO to follow your example upon how it goes.

 

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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