Sealion v Capquest

[sealion]

Re: Sealion v Capquest

Hello Curlyben, this is wife of Sealion with the other problem that I would like your advice on please.
Firstly, I had to have 5 months off work last year with a disc problem and a trapped sciatic nerve (very painful) against doctors advice I returned to work in the September 09 as I have a 15k loan and large credit card to pay, we had some work done to our house and after it started the council messed us about with change to the of type of planning we needed, the whole thing cost a lot more than originally agreed, turned into a nightmare it was not long before last Christmas, weather nasty, with mud and rubble everywhere, so to get it finished I funded last part via credit catd (I know it was the worse way) but I already had a loan.
Now becuse my doctor was right, the condition is much worse I now need an operation and I have not worked since March this year. This time doctor has insited I do not return to work. I had three years left before retirement and if all things had worked out I would have paid back my cc's & loan with no problem. Or most of it anyway - the loan would finished and a good part of the cards.
The loan I think I can still manage to pay ok, its £300 pm
But, I had £11,700 on cc's !! I have split it up now with -
£4700 NatWest - regular interest rate,
I transferred £3500 to Barclaycard as they had a deal 6.9% life of loan
I transferred £3500 to Virgin as they had 0% for 13 months still have 10 months on that. I am not saying I don't want to pay, its just that now I can't (best laid plans of mice and men) because I am no longer able to earn. Can I write and ask then to freeze the interest and to perhaps lower the payments? They won't like it. I am not in arrears, but for the last few months just managed min payments on all, just treading water really, but I can feel myself begining to sink.
What should I do and how do I go about it please. I really look forward to your reply
Wife of Sealion

[sealion]

Re: Sealion v Capquest

Hello again, could someone give me some advice please on the last post about my wife having problems paying back her credit cards as she has had to stop working on medical grounds. Not sure how to go about sorting this one out. Want to do somthing before it get to be too late. Do we just write to them and explain the situation or just offer to pay a lower amount and ask them to freeze the interest - they are not going to want to do that.
Thank you sealion

[WendyB]

Re: Sealion v Capquest

Has she got any PPI on the credit cards? If so she could claim under this..

[TUTTSI]

Re: Sealion v Capquest

has your wife any credit card charges?

[sealion]

Re: Sealion v Capquest

Hello Tuttsi, thank you for getting back to me, no she is not in arrears but since March she has only been able to make the minimum payments. At first she was signed off work by the doctor, but her company did not pay her so she just had ssp but now she has been told that she must not go back to work at all and is waiting for a back operation, so even the minimum payments are getting difficult to cope with. Sealion

[TUTTSI]

Re: Sealion v Capquest

Hi Sealion

My question to you was does she have any charges to reclaim on the credit card as this may help reduce the balance.

Also, Wendy has asked if your wife had any PPI cover as maybe she might be covered on this for sickness payments and again this may help her with the payments.

Thanks
Tuttsi

Hello Tuttsi, thank you for getting back to me, no she is not in arrears but since March she has only been able to make the minimum payments. At first she was signed off work by the doctor, but her company did not pay her so she just had ssp but now she has been told that she must not go back to work at all and is waiting for a back operation, so even the minimum payments are getting difficult to cope with. Sealion

[sealion]

Re: Sealion v Capquest

HI, no charges to reclaim up till March had always paid on time and more than min balance. Please tell Wendy no PPI either

Thank you Sealion

[TUTTSI]

Re: Sealion v Capquest

So no charges up to March so what about since March?

How many charges?

and how much each charge?

Have you considered writing to them and telling them of your wifes situation and ask them to freeze the interest going on and offer to pay a minimal amount each month (a suggestion say £20) until things improve. In fact you should write to all people that you owe money to and offer them a much reduced amount. I believe Sapphire did this and it worked I will ask her to give you some advice.

Tuttsi

HI, no charges to reclaim up till March had always paid on time and more than min balance. Please tell Wendy no PPI either

Thank you Sealion

[sealion]

Re: Sealion v Capquest

No no charges at all she has been managing to pay the min charges only from March. She also has a loan that she thinks she will still be able to pay ok if the credit cards were reduced. She had 3 years to go till she retired and if this ill health had not occured she would have been able to have paid off everything (the loan would have been finished and the cc's greatly reduced or almost paid up). So this is now the end of her working life with no chance of another job or going back to the one she had.
She is getting very stressed about it and does not know what to do. She thinks that if she writes and explains her situation and they write back and say no, then what does she do.
Thank you Sealion

[Sapphire]

Re: Sealion v Capquest

So no charges up to March so what about since March?

How many charges?

and how much each charge?

Have you considered writing to them and telling them of your wifes situation and ask them to freeze the interest going on and offer to pay a minimal amount each month (a suggestion say £20) until things improve. In fact you should write to all people that you owe money to and offer them a much reduced amount. I believe Sapphire did this and it worked I will ask her to give you some advice.

Tuttsi

Hiya

Most of our debts had in fact been sold on or passed over to DCA's, what I basically did was make stupid offers to the ones that had been sold on for example £1.1k on a £5.8k debt, I also got another one reduced from £11.8k to £3.1k, I've found that you can go in with an extremely cheeky and low offer and more often than not they will snatch it in full and final settlement, but to do this you have to have the cash to hand and be able to send it as soon as you get the acceptance in writing.
If the debt is still with the original creditor the other thing you can do is write to them and explain your situation and enclose copies of any proof that you're wife is ill (ie a doctors or hospital letter) and ask them to consider freezing the interest and accept reduced payments.
Hope that helps.

[Curlyben]

Re: Sealion v Capquest

Best course of action would be to put all of these debts in the hands of a professional Debt Management Company such as Payplan - Free Debt Management Plans, Free IVA Debt Advice and Free Debt Help | Debt Advice | Payplan

Don't be temped with one of the big names as they tend to charge a monthly fee for their services.
Payplan doesn't as they work with your creditors to enable manageable debt repayment, thus reducing your stress and worry.

[sealion]

Re: Sealion v Capquest

Thank you - is Payplan the best one to use? I will get her to contact them tomorrow as it all adds up to a lot of money and if its not sorted will only get worse.

Yes all the debts are still with the original creditors

[WendyB]

Re: Sealion v Capquest

She is getting very stressed about it and does not know what to do. She thinks that if she writes and explains her situation and they write back and say no, then what does she do.
Thank you Sealion

But they might writeback and say yes, hadn't they? You won't know till you try, and for the cost of a few stamps you might get a good result. No harm in trying, is there, you may be surprised.

I know it's hard if you've never been in this situation before, and it seems scary at first, but nothing ventured nothing gained. We will help all we can. And there is also Payplan, as CB has suggested, they are very good if you decide to go into a DMP.

[sealion]

Re: Sealion v Capquest

Thank you WendyB and Curlyben. Yes indeed we wont know until we try - you are right.

Will get writing tomorrow, but will first look up payplan and read up on it, then phone and ask advice. Will let you know thank you very much for the kind help and advice
Sealion

[Kafka]

Re: Sealion v Capquest

SL

Another option is Consumer Credit Counselling Service, another very good agency.