Debt advise

[kanodi]

Hi guys, just stumbled upon your forum whilst searching for advise on my debts..

About 5 years a go I was very silly and took out a few credit cards, loans, HP, etc which I totally could not afford at the time, and have not paid a penny to any of them for the 5 years.

I know this was very stupid of me, and totally wish I had not done it. Anyway I have now grown up somewhat and want to sort out my debts, but the problem is there is no way in this world I could pay any of them off in one go, or even offer them a monthly sum I think they would consider to be acceptable.

I am receiving threatening letters, and phone calls, and they have even called me at work(which I am particularly worried about, as I do not want to lose my job as that would make it even worse!).

Up until now I have simply ignored all letters, and denied all claims made over the phone.

Any advise on what I should do would be greatly appreciated. I just don't know where to start really :s

[Curlyben]

Re: Debt advise

OK slow down, take a breath and relax.

Some details would be very useful..
I'm not bothered about the reasons, but how much to who and who's chasing and what they have said to you..

[kanodi]

Re: Debt advise

Hi Curlyben, thank you for replying.

I have recently taken a look at my credit report as I was unsure myself, but I can confirm the following:


Cahoot - £1289
Lowell portfolio - £374
Lowell portfolio - £4579
Arrow global - £760
Natwest bank - £428
Halifax card services - £1158

I have also received a letter from Activ Kapital regarding an outstanding balance of £2004 with HFC bank.

Most of the letters are from Lowell and state that they have tried on numerous occasions to help me find away of repaying what I owe, and that I should pay in full now or my account will be passed to Red Debt Collection services.

To be honest I couldn't tell you what they were for or if I even owe them.

Hope this helps a little :/

[Curlyben]

Re: Debt advise

To break these down.
With Original Creditor (OC)
Cahoot - £1289
Natwest bank - £428
Halifax card services - £1158

These three are worth sending a detail Income and Expenditure statement and arrange a repayment plan.

With Debt Collectors (DCA's)
Lowell portfolio - £374
Lowell portfolio - £4579
Arrow global - £760

On the whole ignore their threats and have a read of the first link in my siggie.
DCA must be put to strict proof that the debt is valid and owing by you.
NO communications on the phone, everything in writing, as is your right.

Judging by the amounts a simple Prove It as an opener is worth doing to the DCA's.
Shake the tree and you never know what might drop down.

The time for burring your head in the sand is at an end, the rest of your life with YOU in control starts today.

[labman]

Re: Debt advise

See my signature! :beagle:

[kanodi]

Re: Debt advise

Thanks very much, feel a little bit better already, I think just getting it out in the open helps, I am just reading through your post on dealing with DCA's
------------------------------- merged -------------------------------
Thanks labman

[teaboy2]

Re: Debt advise

To break these down.
With Original Creditor (OC)
Cahoot - £1289
Natwest bank - £428
Halifax card services - £1158

These three are worth sending a detail Income and Expenditure statement and arrange a repayment plan.

With Debt Collectors (DCA's)
Lowell portfolio - £374
Lowell portfolio - £4579
Arrow global - £760

On the whole ignore their threats and have a read of the first link in my siggie.
DCA must be put to strict proof that the debt is valid and owing by you.
NO communications on the phone, everything in writing, as is your right.

Judging by the amounts a simple Prove It as an opener is worth doing to the DCA's.
Shake the tree and you never know what might drop down.

The time for burring your head in the sand is at an end, the rest of your life with YOU in control starts today.

On top of what Culyben suggested, i would also suggest you instruct them to communicate in writing only as you deem their attempts to contact you by phone as harassment and a breach of the protection from harassment act 1997. They are also in breach of OFT guidelines for calling you at work, and if they have told colleagues its regarding a debt, then thats a breach of data protection act 1998.

As for lowells passing it on to red, don't worry about it its the same company, just the next desk along same with hamptons legal, just the next desk along from the red desk in lowells offices. There just vein threats. Plus if you live in scotland the debts will be statuted barred if you have not paid anything for the a clear five years. If your in england then its 6 years and you only have till whenever you clear the 6 year period since last payment was made for the debts to be statuted barred also.

[kanodi]

Re: Debt advise

Thanks teaboy, that's good to know I think some of them may actually be nearing the 6 year mark to be honest, I must dig a little deeper.

[teaboy2]

Re: Debt advise

If you look on your credit report, you will seee the default date, thats the date you should go by. So 6 years from the default date is when its statuted barred, though really its 6 years from the month after your last payment so if their near 6 years now, it may be worth trying your luck with the statuted barred letter, stating it has been over six years since last payment was made. Though lowells are known for making up payments, they tried it with me with a phone contract for a 1 of 2 phones sent as unsolicited goods that i sold as per my right to do so. They seem to believe that because the person i sold this 1 phone to entered the sim card, that i myself had done so and that entering a sim card is acceptance of terms, when law says otherwise. Unfortunately for them the payment date of a bank holiday lol.

By all means mention you have taken advice form myself as they know exactly who i am lol.

[Guest]

Re: Debt advise

See my signature! :beagle:

Also see

Payplan

CCCS

CAB

National debtline

All thes employ trained qualified advisers and are free to use.

As for staute bar

Teaboy is correct in that the date on the credit file may be a guide to the cause of action, but it is by no means certain that this is the date the six years begins,(the cause of action) this depends on the contract you signed and when they say the contract will be enforced after breach.

If you are going to write to them contesting the enforceability of the agreement under staute barr, be sure you ony refer to the agreement as the "Alleged agreement" do not state the date of your last payment, or say anything that suggest that an agreement exsisted. In short do not give them any information that they have not already supplied you wilth.

The situation is that if you say that the agreement is statute barred, then they have to prove it isnt, and it has been known for them to use correspondence like this in order to do that.

Peter

[teaboy2]

Re: Debt advise

Also when writing to them

Start the letters as

Dear Sir/Madam

I DO NOT ACKNOWLEDGE ANY ALLEGED DEBT YOU CLAIM I OWE.

[labman]

Re: Debt advise

Also see

Payplan

CCCS

CAB

National debtline

All thes employ trained qualified advisers and are free to use.

Absolutely - even the ones mentioned above are just a tiny proprtion of organisations offering these services free of charge. As I put in my pm to you, you have no obligation whatsoever to use my charity, it was just an offer of help made in goodwill, and as the charity is directly affiliated to this site, it may or may not give you that little bit more confidence.

I would NEVER want anyone to feel pressured in any way to use my charity if they felt another would serve them better. Indeed, if I felt another would serve you better, I would tell you.

Peter - what is the situation with Credit Unions? Are they ALL licensed to do these, or just some branches, or what? That could be another good source of local help.

[Latch Key Kid]

Re: Debt advise

Hi guys, just stumbled upon your forum whilst searching for advise on my debts..

About 5 years a go I was very silly and took out a few credit cards, loans, HP, etc which I totally could not afford at the time, and have not paid a penny to any of them for the 5 years.

I know this was very stupid of me, and totally wish I had not done it. Anyway I have now grown up somewhat and want to sort out my debts, but the problem is there is no way in this world I could pay any of them off in one go, or even offer them a monthly sum I think they would consider to be acceptable.

I am receiving threatening letters, and phone calls, and they have even called me at work(which I am particularly worried about, as I do not want to lose my job as that would make it even worse!).

Up until now I have simply ignored all letters, and denied all claims made over the phone.

Any advise on what I should do would be greatly appreciated. I just don't know where to start really :s

Hi

As others have said plenty of free advice available

https://debtremedy.cccs.co.uk/start.aspx

http://www.nationaldebtline.co.uk/

http://mymoney.nedcab.org.uk/moneyadvice/ (new)

Perhaps you can put up more information on your overall circumstances and maybe people on here can help you further

[Guest]

Re: Debt advise

Absolutely - even the ones mentioned above are just a tiny proprtion of organisations offering these services free of charge. As I put in my pm to you, you have no obligation whatsoever to use my charity, it was just an offer of help made in goodwill, and as the charity is directly affiliated to this site, it may or may not give you that little bit more confidence.

I would NEVER want anyone to feel pressured in any way to use my charity if they felt another would serve them better. Indeed, if I felt another would serve you better, I would tell you.

Peter - what is the situation with Credit Unions? Are they ALL licensed to do these, or just some branches, or what? That could be another good source of local help.

Hi
Yes all Credit Unions have applicable liscensing, if they are offring proffessional advice.

Many have a relatiopnship with one or other of the free services already mentioned.

Credit unions like other legitimate not for profit organisations are all closely regulated the FSA and the OFT and have regular, usuall anual visits from the authorities to check conformity.

There is also the issue of confidentiality of course, unlike proffessional agencies posters on here should be aware that the contents of PMs are not confidential and they should refrain from giving personal information even by PM.

Peter

[kanodi]

Re: Debt advise

Thank you all for your great advise, I am currently trying to get organised with it all, determine default dates, if I actually owe them, etc.

So what are the chances that some of these DCA's haven't got a CCA or could even get one from the OC? Is it worth trying this? or am I just going to make it worse for myself?