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Hi
i have already sent this via email to owner of website- but I just can't keep still at moment and feel i must be doing something.
Thank you for the website it's been great so far in helping me understand some of the paperwork I have/need.
I'm also rubbish at getting to point- so I apologise in advance for rambling!
I'm just so stressed out and tired- I feel my family is prob better off without me.
So..... I have a lot of debt- £56k run up over a 12 year period. Most being taken care of now by a payplan DMP. At £250 a month to 12 creditors.
But on 24 feb I received a statutory demand from 1st credit -hand delivered concerning a Lloyd's loan and overdraft.
Total amount £17,989.
The original loan was taken in 2007 for £16,0000 the last logged amount by Lloyd's on my credit report is £14,560. I paid for first six months then stopped. Then via payplan I made payments of £50 for about six months in 2009-2010.
The debt has been past around debt collection agencies over last few years- westcott, Mckenzie hall, moor croft etc- but I have ignored it- just had no money. But so stupid I know.
when I took Loan -I said I couldn't afford it- it was offered at a general meeting about state of my finances.
I was desperate so agreed! The most annoying thing is the guy doing the loan at time said - " oh I know what I should be advising you off reord!"
I took ppi- I think?
But have none if original paperwork.
I feel so stupid- ashamed and embarrassed. I'm going to get declared bankrupt and destroy our family.
So far - I got SD Monday at 3 pm
Stupidly I have no understanding of how this all works so I called 1st credit and explained I'm broke - would they do a payment plan? Got told basically no- because I have house with equity -they want the money. Unless I can 750 a month for two years. (I can't') i work full time but with other bills I can afford what payplan came up with.
In terms of equity it's tricky- the mortgage is £161k with two late payments and £400 arrears. The house on a good day is worth £167k- so after fees and costs to them is it worth it?
Also would any other credits get a share of bankruptcy?
( Few of the smaller ones have CCJ's)
There is also a letter floating around somewhere to say I don't own the equity- my step father "lent" me £100k when I bought house. Again I've used most of it by remortgaging over years- but what's left is his really.
However -house not in joint names. It was just a letter stating his investment and that he had a financial interest. It's never cropped up at remortgage point - so I'm guessing it doesn't make a difference now?
I spent all Tuesday and wed reading and trying to understand.... It is a minefield for people like me. I want to pay this back- I'm not trying to get out of it I just need time and patience
On Thursday I sent recorded delivery a CCA request to 1st credit and an SAR to Lloyd's, this was off back advice from a consumer website.
I then reactivated an old payplan account and made a payment to pp.
The trouble is I don't know what now!?
I've written (but not posted yet) to 1st credit with payplans offer of payment (£78.03 a month out of the £250) which I tell them I'll up to £120, all the equity info I've just given you and saying l will put debt against house to secure it.
But then payplan wrote yesterday telling me to go to local court and try to set aside the SD. They also said on phone to me Friday to send letter I've written to 1st credit??? So is setting it aside in case they turn down my offer?
They highlight number 3 on the 6.4 form?
Something about I will pay- but it's not all due now?
They written £78.03 there.
I called pp but no one there from legal team on Saturday.
I'm not disbuting debt- I admit I had it?
Admit Debt- but not at the figure they say, but I guess that's interest and charges
The last four years have been rubbish-husband lost job, (employed now)
My six year old (at time) had the ordel of a scary court case and I was forced to hand notice in at a well paid job. Things seemed to be getting better- but I've mucked it all up.
What can I do?? I'll do anything not to lose my home.
I could possible beg and borrow money up to 7k but that's a long shot and short of what they want? I looked at loans for people with terrible credit but interest is so high
Please help me I'm so scared
Many many thanks for reading
c
Sent from my iPhone
i have already sent this via email to owner of website- but I just can't keep still at moment and feel i must be doing something.
Thank you for the website it's been great so far in helping me understand some of the paperwork I have/need.
I'm also rubbish at getting to point- so I apologise in advance for rambling!
I'm just so stressed out and tired- I feel my family is prob better off without me.
So..... I have a lot of debt- £56k run up over a 12 year period. Most being taken care of now by a payplan DMP. At £250 a month to 12 creditors.
But on 24 feb I received a statutory demand from 1st credit -hand delivered concerning a Lloyd's loan and overdraft.
Total amount £17,989.
The original loan was taken in 2007 for £16,0000 the last logged amount by Lloyd's on my credit report is £14,560. I paid for first six months then stopped. Then via payplan I made payments of £50 for about six months in 2009-2010.
The debt has been past around debt collection agencies over last few years- westcott, Mckenzie hall, moor croft etc- but I have ignored it- just had no money. But so stupid I know.
when I took Loan -I said I couldn't afford it- it was offered at a general meeting about state of my finances.
I was desperate so agreed! The most annoying thing is the guy doing the loan at time said - " oh I know what I should be advising you off reord!"
I took ppi- I think?
But have none if original paperwork.
I feel so stupid- ashamed and embarrassed. I'm going to get declared bankrupt and destroy our family.
So far - I got SD Monday at 3 pm
Stupidly I have no understanding of how this all works so I called 1st credit and explained I'm broke - would they do a payment plan? Got told basically no- because I have house with equity -they want the money. Unless I can 750 a month for two years. (I can't') i work full time but with other bills I can afford what payplan came up with.
In terms of equity it's tricky- the mortgage is £161k with two late payments and £400 arrears. The house on a good day is worth £167k- so after fees and costs to them is it worth it?
Also would any other credits get a share of bankruptcy?
( Few of the smaller ones have CCJ's)
There is also a letter floating around somewhere to say I don't own the equity- my step father "lent" me £100k when I bought house. Again I've used most of it by remortgaging over years- but what's left is his really.
However -house not in joint names. It was just a letter stating his investment and that he had a financial interest. It's never cropped up at remortgage point - so I'm guessing it doesn't make a difference now?
I spent all Tuesday and wed reading and trying to understand.... It is a minefield for people like me. I want to pay this back- I'm not trying to get out of it I just need time and patience
On Thursday I sent recorded delivery a CCA request to 1st credit and an SAR to Lloyd's, this was off back advice from a consumer website.
I then reactivated an old payplan account and made a payment to pp.
The trouble is I don't know what now!?
I've written (but not posted yet) to 1st credit with payplans offer of payment (£78.03 a month out of the £250) which I tell them I'll up to £120, all the equity info I've just given you and saying l will put debt against house to secure it.
But then payplan wrote yesterday telling me to go to local court and try to set aside the SD. They also said on phone to me Friday to send letter I've written to 1st credit??? So is setting it aside in case they turn down my offer?
They highlight number 3 on the 6.4 form?
Something about I will pay- but it's not all due now?
They written £78.03 there.
I called pp but no one there from legal team on Saturday.
I'm not disbuting debt- I admit I had it?
Admit Debt- but not at the figure they say, but I guess that's interest and charges
The last four years have been rubbish-husband lost job, (employed now)
My six year old (at time) had the ordel of a scary court case and I was forced to hand notice in at a well paid job. Things seemed to be getting better- but I've mucked it all up.
What can I do?? I'll do anything not to lose my home.
I could possible beg and borrow money up to 7k but that's a long shot and short of what they want? I looked at loans for people with terrible credit but interest is so high
Please help me I'm so scared
Many many thanks for reading
c
Sent from my iPhone
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