Things are mounting up, bit of a nudge in the right direction needed

[The Loaf]

Hi all,

 

I'll start threads relating to all areas of my debt problems when things get moving, for now I'd really appreciate some advice.

 

I've not had the best year with work and my health which has left me in a fairly bad situation.

 

Egg- pulled the plug on my management plan after I fell a payment behind, I now have to pay DLC £220 a month for a year. Would it be advisable to request CCA to see if I am actually obliged to pay them anything?

 

Capital One- Constant phone calls causing me stress. Am below my £1k limit for now.

 

HSBC- Loan and credit card, fell behind with payments late last year, card called in and on management plan. 4 payments behind on loan. In their infinite wisdom they also chose to remove my £400 overdraft facility thus making it even harder to make payment.

 

Having quit office work last year as it was making me ill I started to get back on track in January working for a builder, job fell through leaving me out of work around April. Got some work self employed which allowed me to pay the bills but that was cut short by around 6 weeks leaving me now unemployed. I am looking for more secure work with a regular salary but I have to be careful with what I do, I can't do a job that makes me miserable anymore just for money, that's what made me ill before and I can't do that again.

 

Most of my bills are due at the start of the month and having had no income for the last 4 weeks I have no possible way of paying. PPI won't cover it, does it ever?, so I'm in real trouble.

 

Any advice on what to do next? I can barely sleep at the moment and I'm sure my blood pressure has gone through the roof.

 

Thanks in advance.

[powelll]

Firstly, it sounds like you have all ' non priority ' debts - unsecured loans, credit cards, store cards catalogues home collected credit etc etc all fall into this. This just means the creditors are limited in what they can do if you can't afford to pay what they ask. Priorites are mortgage or rent, council tax, utilities as well as food, ravel etc.

 

Standard advice is do a budget sheet ( good one linked below ) but just essentials / priority debt in the outgoings. Non priorities should get a share of what's left over however small.

 

You may benefit from speaking to National Debtline on freephone 0808 808 4000 for completely free confidential impartial advice on your whole situation.

 

Hope this helps as a starting point; best of luck

 

National Debtline England & Wales | Personal Budget Sheet

[The Loaf]

I have nothing to give at the moment:confused:

 

Is the debt helpline the same as CCCS? They will be getting a call from me tomorrow, hopefully they will be able to get me on the right track.

 

HSBC have been pretty bad, they were all smiles when I borrowed from them but the moment I started having problems they didn't want to know, if they call in the loan I'm really up a creek without a paddle.

[rory32]

As Powelll says these are non priority debts. If you can't afford to pay any thing at the moment then you shouldn't feel you have to. A court would not award them any more than you can reasonably afford.

 

National Debtline and CCCS are seperate organisations, both have very good reputations.

 

Personally I would send CCA requests to the lot of them and also ask for a statement of account. This is more basic than a SAR but is free.

[The Loaf]

OK, I'll follow up my phonecall with CCA requests.

 

My major concern is that having missed payments before that HSBC would be able to call in the total amount of my loan. I understand the non priority bit but I don't want baillifs round taking my things and more importantly my car.

 

Just a bit stressed at the moment.

[rory32]

Calling in a loan is not something that happens quickly. They would fist need to get a CCJ. In order to make a CCJ stick they need a copy of the agreement that complies with the Act as long as you defend the CCJ.

 

Bailiffs can only remove goods with a court order, while you are disputing the debt by sending a CCA request they are not going to get one.

[The Loaf]

OK, I'm still a little worried but I'll get the CCA request done tomorrow.

 

Would I be able to put the account in dispute by claiming back PPI? The loan is a combination of my first two loans with them were I was expressly told I HAD to have PPI. Surely this will have a bearing on what I owe now and if recalled would be able to be put towards the payments I have missed and the repayment of the loan itself?

 

If I was working I could find a way to restructure my payments but I'm making slow progress with finding employment.

 

Can a DCA fix a timescale of a year to repay a debt? While I was still earning it was leaving me close to the bread line but obviously now it's way too much.

[rory32]

Would I be able to put the account in dispute by claiming back PPI?

Yes, but you would be acknowledging the debt. You should be able to negotiate with them though on the basis that PPI was missold.

 

If you can afford to do a SAR on the accounts that have PPI you should. You may be suprised at how much the PPI comes to. A SAR is not for a particular account, it is for all the information a company holds on you. You can also claim interest on the PPI.

 

Can a DCA fix a timescale of a year to repay a debt?

No, as previously stated you pay what you can afford. This is a non priority debt. You should also include in your budget things like an emergency fund, a holiday, car maintenance, MOT and road tax, Xmas and birthday presents, clothes, dental costs, telephone, etc. CCCS will be able to give you more info on this when you get in touch with them.