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Hi advisors
I owe around £36000 to 11 creditors. Defaults are dated between 2018-2019 (I plan to contact the FO about 1 or 2 late default dates) I have acknowledged or been making token payments of £1 to all creditors and sent regular I&E’s for review. All debts have default dates and around 4 year mark. I’m concerned as the 6 year mark is approaching I will begin to revive CCJ’s although my sole income has not changed much in this time, nor likely to and I don’t own a home or a car and have no other savings/items of value except a work pension (I’m 41) 4 debts are with original lenders collections departments 1 is being managed by Brecon. The other 6 have been sold on once as follows: Tesco credit card and Tesco loan-Intrum (taken out around 2016/17. Halifax card-LC asset 1 S.c.r.l (managed by Wescot) around 2015/16 Barclay card and Barclay loan-PRA group around 2013/14 and Littlewoods catalog-Lowell around 2007. My question is should I request a copy of the CCA for the debts that have been sold? How likely is it that the debt buyers can produce them. Is it more likely with the debts taken out in 2016/17? My goal is to not get CCJs for any of the debts adding another 6 years to credit history and try and offer F&F settlement to the enforceable debts before this happens (if it is an affordable amount to my dad which it would be if I only had 5 to pay) and possibly a very low offer to rid the unenforceable debts for peace of mind over them becoming enforceable again in the future. I’ve considered options such as bankruptcy seeing I don’t have any assets however I would like to move in with my parter soon and would not want the insolvency to then think I can pay towards the bankruptcy for 3 years if I’m then only paying half of what I am now in expenditure as that would defeat the object of paying a F&F offer without resetting the clock for 6 years to improve my credit rating. I hope this all makes sense and I appreciate any advice offered to the situation. Thank you
I owe around £36000 to 11 creditors. Defaults are dated between 2018-2019 (I plan to contact the FO about 1 or 2 late default dates) I have acknowledged or been making token payments of £1 to all creditors and sent regular I&E’s for review. All debts have default dates and around 4 year mark. I’m concerned as the 6 year mark is approaching I will begin to revive CCJ’s although my sole income has not changed much in this time, nor likely to and I don’t own a home or a car and have no other savings/items of value except a work pension (I’m 41) 4 debts are with original lenders collections departments 1 is being managed by Brecon. The other 6 have been sold on once as follows: Tesco credit card and Tesco loan-Intrum (taken out around 2016/17. Halifax card-LC asset 1 S.c.r.l (managed by Wescot) around 2015/16 Barclay card and Barclay loan-PRA group around 2013/14 and Littlewoods catalog-Lowell around 2007. My question is should I request a copy of the CCA for the debts that have been sold? How likely is it that the debt buyers can produce them. Is it more likely with the debts taken out in 2016/17? My goal is to not get CCJs for any of the debts adding another 6 years to credit history and try and offer F&F settlement to the enforceable debts before this happens (if it is an affordable amount to my dad which it would be if I only had 5 to pay) and possibly a very low offer to rid the unenforceable debts for peace of mind over them becoming enforceable again in the future. I’ve considered options such as bankruptcy seeing I don’t have any assets however I would like to move in with my parter soon and would not want the insolvency to then think I can pay towards the bankruptcy for 3 years if I’m then only paying half of what I am now in expenditure as that would defeat the object of paying a F&F offer without resetting the clock for 6 years to improve my credit rating. I hope this all makes sense and I appreciate any advice offered to the situation. Thank you
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