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Hi all,
Please bear with me as I have quite a lot to ramble on about.
I've been reading a lot of posts over the last few days on here and everybody seems to be really helpful, understanding and non-judgmental. I have spoken to a financial adviser about my situation who was rude, condescending and no help at all. I was hoping you guys would be able to give me some direction.
In 2008 I (like a few people its seems) got into financial difficulty. I lost my job, maxed out one overdraft at one bank and got a credit card and another overdraft from another bank. I used these to fund a the moving costs of a new job abroad. I had the intention of keeping these accounts in order while I was away, but the 'out of sight, out of mind' approach got the better of me. Shameful I know and I'm not proud. I returned to the UK in late 2009 to obviously find these accounts defaulted/not available. For the next couple of years I've done contract work up and down the country and have had DCA letters follow me around the country that to be honest I have ignored. Head in the sand approach again I'm afraid. As a single person I only had myself to think of, so these debts didn't take priority.
I'm now in the position where I'm in a loving relationship and have a decent, well paid, permanent job. I'm very much settled and happy after a few turbulent years inc. a lot of personal problems. In the next few years or so I'd like to get a mortgage etc, but obviously my checkered financial past will affect this so I want to start sorting things ASAP.
What I would like and really appreciate is some impartial advice on what to do about my debts. On one hand I am in a position now to make monthly payments and eventually pay off the debt. On the other hand I would rather save for the future rather than put money into Lowell's pockets and from reading these forums I'm even more keen not to pay them. I'm also fairly convinced (again from reading these forums) that my debts will become Statute Barred by June next year.
Here are the details that I have on the debts:
Bank A Credit Card - Owing £3600 - Last letter received is from Hamptons Legal in May - 'Overdue Account - we may prepare for more serious action, which could include applying for a CCJ against you'. I have not heard anything since this letter. It is also not showing on credit file. In previous letters they have offered me 30% discount. After taking the card out and moving abroad I am ashamed to say I never paid anything. This was taken out in May 2008.
Bank A Overdraft- Owing £1700 Last letter received is from Lowell financial in August - This account was opened May 2008 and has not been used since June 2008. I pretty much used the overdraft and credit card to fund my moved abroad and never used them again. This is showing as a defualt on my credit file in Feb 2009.
Bank B Overdraft - Owing £2000 - 4 letters in the last month from Red Debt Collection - Opened in 2006 and no activity since May 2008 (possibly before) - From my credit file I can see the default date is 2010 this was passed on to Lowell August 2013. It is showing as satisfied on my credit file and not currently showing as a Lowell debt.
Further Info - I have never responded to any letters/phone calls and never acknowledged any debt. Unfortunately I don't have exact dates or paperwork to go along with these debts. I just know that I stopped using the accounts when I moved abroad in June 2008. I only have correspondence from the collection companies from this year only.
Please can anyone advise on the best way forward based on the above?
I have by no means been the perfect person in the past and have made a few mistakes, like many of us. I've also had my own problems which I know is no excuse but does affect how you act. What I want to do now is start building a future.
Thank you very much if you have read all of this.
Please bear with me as I have quite a lot to ramble on about.
I've been reading a lot of posts over the last few days on here and everybody seems to be really helpful, understanding and non-judgmental. I have spoken to a financial adviser about my situation who was rude, condescending and no help at all. I was hoping you guys would be able to give me some direction.
In 2008 I (like a few people its seems) got into financial difficulty. I lost my job, maxed out one overdraft at one bank and got a credit card and another overdraft from another bank. I used these to fund a the moving costs of a new job abroad. I had the intention of keeping these accounts in order while I was away, but the 'out of sight, out of mind' approach got the better of me. Shameful I know and I'm not proud. I returned to the UK in late 2009 to obviously find these accounts defaulted/not available. For the next couple of years I've done contract work up and down the country and have had DCA letters follow me around the country that to be honest I have ignored. Head in the sand approach again I'm afraid. As a single person I only had myself to think of, so these debts didn't take priority.
I'm now in the position where I'm in a loving relationship and have a decent, well paid, permanent job. I'm very much settled and happy after a few turbulent years inc. a lot of personal problems. In the next few years or so I'd like to get a mortgage etc, but obviously my checkered financial past will affect this so I want to start sorting things ASAP.
What I would like and really appreciate is some impartial advice on what to do about my debts. On one hand I am in a position now to make monthly payments and eventually pay off the debt. On the other hand I would rather save for the future rather than put money into Lowell's pockets and from reading these forums I'm even more keen not to pay them. I'm also fairly convinced (again from reading these forums) that my debts will become Statute Barred by June next year.
Here are the details that I have on the debts:
Bank A Credit Card - Owing £3600 - Last letter received is from Hamptons Legal in May - 'Overdue Account - we may prepare for more serious action, which could include applying for a CCJ against you'. I have not heard anything since this letter. It is also not showing on credit file. In previous letters they have offered me 30% discount. After taking the card out and moving abroad I am ashamed to say I never paid anything. This was taken out in May 2008.
Bank A Overdraft- Owing £1700 Last letter received is from Lowell financial in August - This account was opened May 2008 and has not been used since June 2008. I pretty much used the overdraft and credit card to fund my moved abroad and never used them again. This is showing as a defualt on my credit file in Feb 2009.
Bank B Overdraft - Owing £2000 - 4 letters in the last month from Red Debt Collection - Opened in 2006 and no activity since May 2008 (possibly before) - From my credit file I can see the default date is 2010 this was passed on to Lowell August 2013. It is showing as satisfied on my credit file and not currently showing as a Lowell debt.
Further Info - I have never responded to any letters/phone calls and never acknowledged any debt. Unfortunately I don't have exact dates or paperwork to go along with these debts. I just know that I stopped using the accounts when I moved abroad in June 2008. I only have correspondence from the collection companies from this year only.
Please can anyone advise on the best way forward based on the above?
I have by no means been the perfect person in the past and have made a few mistakes, like many of us. I've also had my own problems which I know is no excuse but does affect how you act. What I want to do now is start building a future.
Thank you very much if you have read all of this.
Hopefully some one with more knowledge will be along to help you.
Yes, I hope so too. It would be nice to get some non-judgmental advice. I must add that I have signed up to an Experian account and added old addresses etc. This was to get a full picture of my debt. Will this urge Lowell on in their pursuit of me, or does it make no difference? Sorry if it's a silly question.
One thing to bear in mind is that if they haven't got your current address, they can easily issue a claim at your last known address and obtain default judgment. 
Conditional Fee Agreements (a.k.a. no-win-no-fee) only apply when you are going to court, either as a claimant (i.e. a personal injury claim) or as defendant (if a creditor is taking you to court). In the first instance, the "fee" would be covered if you win your claim, in the second, from costs awarded against the creditor (provided you win).:juge:
and getting the SDs set aside. 
ray:
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