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1st credit -18k statutory demand please help - WON!!!!

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  • 1st credit -18k statutory demand please help - WON!!!!

    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


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  • #2
    Re: 1st credit -18k statutory demand please help

    I wouldn't send anything to anyone until you've spoken with Kate (the site owner).

    When did you e-mail her?

    Don't panic, if the statutory demand was served on you last Monday there's still a good 10 days to deal with it.

    Comment


    • #3
      Re: 1st credit -18k statutory demand please help

      Hi
      Ok that's for that.
      I only emailed her this morning-I won't post letter yet.

      thanks
      c

      Comment


      • #4
        Re: 1st credit -18k statutory demand please help

        Ok. Hang on, Amethyst will post up something in a mo.

        Comment


        • #5
          Re: 1st credit -18k statutory demand please help

          Completely understandable, these stat demands are bullying and their intention is to scare.

          Good to hear to have contacted Celestine privately - you are in good hands there and if something can be done it will be, and there's none yet where it can't be. Hold off on returning anything till you have spoken with her.

          So the basics of this loan are it was for 16k taken in 2007.

          It is currently being paid via a DMP with payplan at 78 a month, as that is the amount your Income and expenditure sheet shows is appropriate.

          You need to send a CCA request to first credit with one pound postal order http://www.legalbeagles.info/forums/...y-of-Agreement

          And have a read of this post with regards what Celestine will need . http://www.legalbeagles.info/forums/...ands-READ-HERE

          You should be able to have this set aside and continue on payments on the DMP as you have been doing - first credit might want some form of security on the debt if their paperwork does come up to scratch and that can negotiated with them. They may be able through court action, whipch would be more appropriate to have a charging order on your house. That would basically mean if you sold in the future they would be second in the queue after your mortgage provider to get payment of the debt, or if you started failing on the DMP payments they could apply for enforcement. It might help you to know 20 a month payments on 6k debts isn't uncommon once creditors have some form of security.

          Tomorrow speak to Celestine/Kate at work, I'm sure she'll ring you anyway if you have emailed your contact details, and you should start feeling a bit better.

          Once this is sorted and under control we can have a look at the other debts you have with payplan and anything else that you might be struggling with and hopefully help you get back on track. You have done things right so far, creditors react differently to DMPs but can all be dealt with.

          Try not to worry over the rest of your weekend, theres lots of support here for you xxx

          Sharon
          Last edited by Amethyst; 2nd March 2014, 11:34:AM.
          #staysafestayhome

          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

          Received a Court Claim? Read >>>>> First Steps

          Comment


          • #6
            Re: 1st credit -18k statutory demand please help

            Oops just realised you have already done the cca request, so that is excellent

            And DON'T whatever you do take put more credit to pay this! You'll just get trapped in a never ending cycle. Try see this as a good thing that will propel you into sorting everything out and getting back on track xx we're here to help xxx
            #staysafestayhome

            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

            Received a Court Claim? Read >>>>> First Steps

            Comment


            • #7
              Re: 1st credit -18k statutory demand please help

              Oh thank you so much-I am feeling a little better.
              Right I'll wait for Kate to contact me.
              I'll send her my number.
              Your all so kind and helpful - massive thanks
              cxx

              Comment


              • #8
                Re: 1st credit -18k statutory demand please help

                Oh thank you so much-I am feeling a little better.
                Right I'll wait for Kate to contact me.
                I'll send her my number.
                Your all so kind and helpful - massive thanks
                cxx

                Comment


                • #9
                  Re: 1st credit -18k statutory demand please help

                  Kate has a fantastic record with these Stat Demands, just search around the site and see how many she has dealt with an had set aside

                  Comment


                  • #10
                    Re: 1st credit -18k statutory demand please help

                    Yes been reading - it's amazing. I'm really hoping she can help
                    I am just so stupid.
                    I can't believe I've let it come to this.
                    If this does get sorted out it's been one hell of a reminder to not ignore my problems

                    Massive thanks again
                    cx

                    Comment


                    • #11
                      Re: 1st credit -18k statutory demand please help

                      You haven't been stupid, you have a life, and sometimes life gets a bit mucked up and our priorities, rightly, change. We can pull it back round, but as I said get this in process of being sorted then maybe we can sit and go through the rest of it xx

                      Mortgage is most important so lets look at that next, then council tax and utilities, THEN unsecured loans/c/cards can be sorted after that.
                      #staysafestayhome

                      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                      Received a Court Claim? Read >>>>> First Steps

                      Comment


                      • #12
                        Re: 1st credit -18k statutory demand please help

                        Thanks Amethyst
                        cxx

                        Comment


                        • #13
                          Re: 1st credit -18k statutory demand please help

                          Hi
                          I haven't heard from Kate yet- I'm sure she's really busy.
                          But not sure what to do next?
                          And so scared about time.
                          Should I wait to post offer of payment to 1st credit and fill in setting aside forms at court??
                          But I'm not even sure what my grounds are to set it aside
                          or should I send letter of offer to them? Got ad last Monday.
                          thanks in advance cx

                          Comment


                          • #14
                            Re: 1st credit -18k statutory demand please help

                            Hi,

                            don't do ANYTHING until you've spoken to Kate

                            Above all DO NOT speak to 1st Credit etc on the phone

                            Have you tried calling Kate today?

                            Comment


                            • #15
                              Re: 1st credit -18k statutory demand please help

                              Hi
                              I haven't I didn't want to pester her. I just emailed her yesterday and posted above thread.
                              I'm at work till 3 but will give her a call see what she suggests.
                              I won't get in touch with 1st credit then.
                              thank you
                              cx

                              Comment

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