lots of debts.. need help

[Yujel]

hi all......... i am new to this site forgive me if i make any mistakes..

i am in 140000 debt. i got into this debt because i was under duress from a third party. he was with me when i sign the loan papers n he was with me when we withdraw cash from the banks. i had to give him my card n he was spending the money the way he wanted.

this guy was a member of a gang. i was scared of my life. i had a perfect credit score. i run my business as well. eventually the bank stooped lending me the money because of what i had already borrowed. he then had disappeared. i was left with this debt.

i was then harassed for payment from the creditors. i was recommend to a debt management company call white water. they asked for 10% upfront and they told me that they would write my debts of in between 3-5 years. its been 3 years now. my monthly payment of £196 includes their 50 monthly fee.

last year natwest bank via soesmith put a charging order on my property. the debt management company did not help me with this at all.

i am married with one visually impaired daughter. my wife has had enough of me. she wants a divorce. my mortgage has £185000 n the house is worth £250000

my questions are these

1: when she divorce me what happens to the house. its only in my name. what will happen to the charge from natwest.

2: as there is charge from natwest, can i negotiate a settlement with them.

3: has anyone heard of white water. are they just cowboys.

4: do any one knows a good solicitor that can help me put this guy behind bars.

your help will be much appreciated.

thanks in advance

[TUTTSI]

Re: lots of debts.. need help

On the question of White Water they are a Limited Company and was incorporated since 2005. All their accounts and filings are up to date. I cannot find any adverse information on them, that is not to say there is not some somewhere but normally if a company like this has treated people badly then you do hear of complaints and they would pop up on sites like this. The only thing I could not see if they were authorised by the OFT?

Are you saying that you are with Whitewater and that they have got you into a bigger mess?

Will your daughter be living with you or her mother?



Name & Registered Office:
WHITEWATER DEBT MANAGEMENT LIMITED
DORSET HOUSE, DUKE STREET
CHELMSFORD
ESSEX
CM1 1TB
Company No. 05426358


Status: Active
Date of Incorporation: 15/04/2005

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
6523 - Other financial intermediation
Accounting Reference Date: 31/03
Last Accounts Made Up To: 31/03/2010 (TOTAL EXEMPTION SMALL)
Next Accounts Due: 31/12/2011
Last Return Made Up To: 05/05/2010
Next Return Due: 02/06/2011
Last Members List: 05/05/2010
Previous Names:No previous name information has been recorded over the last 20 years.UK Establishment Details There are no UK Establishments associated with this company.Oversea Company Info There are no Oversea Details associated with this company.

[Amethyst]

Re: lots of debts.. need help

i am in 140000 debt. i got into this debt because i was under duress from a third party. he was with me when i sign the loan papers n he was with me when we withdraw cash from the banks. i had to give him my card n he was spending the money the way he wanted.

this guy was a member of a gang. i was scared of my life. i had a perfect credit score. i run my business as well. eventually the bank stooped lending me the money because of what i had already borrowed. he then had disappeared. i was left with this debt.

Is the third party named on any of the loans?

What sort of relationship did you have ? Business Partner/Friend etc ?

Would the loans and withdrawals from that period stand out as unusual from your normal behaviour (evidenced by the history of accounts/credit files)?

Did you have any benefit of the money borrowed ? How much of the 140k was obtained under duress from this man?

Any reports to police etc ?

[Sapphire]

Re: lots of debts.. need help

Hiya

Did this person sign anything at all ?

[Yujel]

Re: lots of debts.. need help

thanks tuttsi. much appericated..

my daughter will be living with her mum..

on white water i don't know if they got me in more trouble. i paid them about 8000 upfront..

but they did not help with ccj or the charging order..

is it true what they are claiming they can do. write my debts of between 3-5 years..
------------------------------- merged -------------------------------
Amethyst, thank you for your reply

the third party name is not on any loans. its in my sole name.

this guy was introduced to me by a neighbour. my neighbour told me that he can take out loans in my name and after few months he can wirte them off and he done the same for him. he said that we will go 50/50. this turned out to be a trap and i fell right into it.

my neighbour advise me to do what they say. they are member of a mafia. he did threaten me, took my cards and i had tell him my pin no.

in total i got 35000. after the first loan i was threaten.

the witdrawals was unsual behaviour. with in a month 80000 had been withdrawn from my account. the bank's did not care.

what i dont understand how the credit rating agencies allow us to take as much as that with in a month. 140000 in one month. i am thinking of suing the agencys.

i did go to the police but i did not have enough information on them. i was still scared that they would come back.
------------------------------- merged -------------------------------
than you sapphire..

most of the loans was arranged by him via the web..

whe i took out the natwest loan he was with in the room when i signed the aggrement.

i had 5 credit cards with zero balances.. total limit on all the cards was about 30000.

[Amethyst]

Re: lots of debts.. need help

Did you get a crime ref from the police (ie any record of the report to the police)

Am thinking along Undue Influence lines....but would involve a criminal investigation also.

Are you safe now?

[Yujel]

Re: lots of debts.. need help

Did you get a crime ref from the police (ie any record of the report to the police)

Am thinking along Undue Influence lines....but would involve a criminal investigation also.

Are you safe now?

thank you again..

i am safe i think. but this guy know where i live and work. its been 3 years now.. i just told my family whats happend.. i think i need to go back the police now. as i know more informatio about them.

[Amethyst]

Re: lots of debts.. need help

Just be aware that the £35k you had out of it may make you culpable.

[Yujel]

Re: lots of debts.. need help

Just be aware that the £35k you had out of it may make you culpable.

do you mean i will be liable for all of other debts. i am willing to pay the 35k back to them.

do you think i have good case for Undue Influence.

[Amethyst]

Re: lots of debts.. need help

I do, but I think it depends on police investigation too, and yes the debt you would be liable for even with the undue influence I think would be the £35k. I'm not sure (as I don't really know about Criminal law stuff) that you might have some action against you on intention to defraud - but I think speaking to a solicitor may be a good idea. Am thinking you initially went along with this other person in getting loans with no intent to repay it, but to get it written off (somehow) and you had the £35k loan on that basis. The additional £100k that he took from loans in your name came after that ?

If you got the initial 35k loan out with the intention to repay it and then this other person bullied you into taking more loans out on their behalf, I would think that would be slightly different.

As I say, I don't really know, but without the police involvment about him taking the 100k from you/forcing you to take out loans, I don't see undue influence working.

[Amethyst]

Re: lots of debts.. need help

Just noticed - Whitewater took £8000 off you upfront for managing your DMP ? Blimey. How much are you giving them monthly and how much of it goes to the creditors ?

[Yujel]

Re: lots of debts.. need help

i pay them 196.11, £50 goes to them the rest goes to the creditors.

[Caspar]

Re: lots of debts.. need help

this guy was introduced to me by a neighbour. my neighbour told me that he can take out loans in my name and after few months he can wirte them off and he done the same for him. he said that we will go 50/50. this turned out to be a trap and i fell right into it.

The main problem as I see it here is that you have announced publically on this forum that you effectively deliberately intended to defraud the loan companies of their money. This makes you guilty of a serious crime.

The police option may still be the way to go for you, but I think you'd be unlikely to escape free of charge from it all. Sorry to be blunt, but it's the way I see it.

[Yujel]

Re: lots of debts.. need help

there is a difference between wanting to and talking into do something, my friend. i didnt come up with this idea.they talked me into it. this was a trap. i wanted to stop from the first loan.

but they didnt give that option, i was scared that they would do something to me or my family. (still scared) i have a blind daughter, life has not been easy for me one bit.

they took my cards of me, had to tell them my pin. they used the cards as if it was theirs.. the banks can check the cctv's and find that it was not me.

any way.

i have ccj on my file that i need to put a side.. do anyone know of a good lawyer who can represent me in the court.

thanks in advance

[Caspar]

Re: lots of debts.. need help

there is a difference between wanting to and talking into do something, my friend. i didnt come up with this idea.they talked me into it. this was a trap. i wanted to stop from the first loan.

but they didnt give that option, i was scared that they would do something to me or my family. (still scared) i have a blind daughter, life has not been easy for me one bit.

they took my cards of me, had to tell them my pin. they used the cards as if it was theirs.. the banks can check the cctv's and find that it was not me.

any way.

i have ccj on my file that i need to put a side.. do anyone know of a good lawyer who can represent me in the court.

thanks in advance

Again the problem as I see it is that at this early stage where they were "persuading you" to go ahead, if you felt frightened or intimidated you should have gone straight to the police. If you honestly believe you are innocent of any wrongdoing go to the police now and tell them what has happened.