Debt problems

[Paule]

Re: Debt problems

I always thought that the companies that offered PPI would want you to have every opportunity to get back to work so they would not have to pay out as much on your claim but this is obviously not the case.

They want to avoid paying out at all costs usually,
but in theory they are making sure you're not working (or able to) while claiming from them.

If you are self employed tradesman, a lot of jobs could be cash jobs etc that may not go through the official payment channels.
By getting proof that you havent got your CIS card anymore, they are limiting this avenue of income.

This will probably be in the T&C's somewhere in relation to providing PPI to yourself.

PKea

[Oldham lad]

Re: Debt problems

TBH Pkea by taking my card all they are doing is stopping me sub contracting to firms that would insist my payments go through their book.

Cash work such as foreigners are usually obtained via word of mouth anyway ether that or old customers who you tend to know prefer to pay cash for a reduced charge and no recipts are given.

[Amethyst]

Re: Debt problems

I don't know anything about CIS cards but the terms on all the PPI agreements I read that you have do say you must have informed the tax office that you have ceased trading and that you have made your class 2 national insurance contributions.

Do you know how long it takes before they start paying out ?

[Oldham lad]

Re: Debt problems

Hi Amethyst

Once I have returned the form they send me which is apparently in three sections one for me to fill in one for my employer to fill in (which they said I should do) and one for the Jobcentre people to fill in,

Also I have to obtain the letter from the Inland Revenue which I have to send to them they will then look in my claim.

They said I should receive the forms within five working days so obviously I have little chance of getting anything sorted out before the 1st of May which is when my next payment to Nemo is due.

I know that I have to be unemployed for thirty days before the claim will pay out and also there is a clause that if the account is in arrears when I claim then the cover is void so although I am not in arrears at the moment by the time anything is sorted out I most probably will be.

[Amethyst]

Re: Debt problems

Okay. Any luck getting the Nemo agreement sent to me?

[Oldham lad]

Re: Debt problems

I did try to send it to you a couple of days ago obviously you didn’t get it I’ll try again

[Amethyst]

Re: Debt problems

ahhhhhhhh I'll double check my spam box. back in a tic.

[WendyB]

Re: Debt problems

Hi. The rules on CIS have changed now, not sure how this will affect you though. The contractor employing you has to have a verified list from the Revenue of subcontractors, so that they know whether you are CIS 4, 6, or whatever. No more vouchers to be filled in, its all done at source. If i were you i would contact the Revenue to see if you do have to actually hand your card in or not. I know this cos the company I work for is CIS 6, and don't have to do vouchers any more. IMHO its not the fact that the business is no longer trading-its the fact that you don't have any work. You can own a company and leave it sitting on the shelf but not be making any money from it.

[Amethyst]

Re: Debt problems

Got it now thanks babe. Will have a look at it this evening properly.

[Oldham lad]

Re: Debt problems

Hi all

Am making tomorrow decision day and just wondering what to expect

I am about to inform my C/C s bank loans, van loans and mortgage providers that I am unable to meet the repayments.

Considering I am now unemployed but not yet receiving any benefits I am unlikely to be able to offer even a token payment.

Even if they allow me any kind of breathing space untill I gain employment again I am wondering how long they will chase me for the debt I owe as considering the amount I am unlikely to ever earn enough money to repay much of the unsecured debt.

Once I am back in gainful employment (whenever that will be) looking at the wages on offer all I am likely to be able to find would be the mortgage, the homeowner loan and the buying in and even that is going to be a struggle.

Basically I wondering what the outcome of all this is going to be some people have told me that the banks attitude is I don’t have it or anything worth selling (which I don’t) then they will write it off.

Other folk tell me that they will chase me for the rest of my life adding interest and dragging me to court at every opportunity.

[Amethyst]

Re: Debt problems

Hiya

Do you want to go through the letters on here first ?

Have you done your income expenditure (as it stands NOW) ?

You sound very defeated babe.

You need to make a plan not just wait for things to overtake you.

Sell/Return the van (hence wanting the GMAC agreement)

I'd rather you sold the house and rented and paid of mortgage and nemo rather than waiting for them to reposess. Same end product less stress - its your decision then, you are in control.

The others are credit cards theres not a lot they can do - lower repayments and ccjs is all.

I have to do something quickly but will be back in a sec.

[Oldham lad]

Re: Debt problems


Hiya Amethyst

The first thing I was going to do is phone all the C/C company’s and get the ones I have insurance on to send me out claim forms

I have got the insurance form from Norwich union for Nemo loan and will fill it out with wife tonight.

Will contact the Woolwich to inform them

Going to phone up my bank to find out about loan (worried about that one because I have my current account with them so wondering whether to open account with a bank I have no loans with)

Will have to get in touch with GMAC to arrange to return van

Am unable to work out expenditure and income as I’m not sure how much I will get from DHSS

I am pretty down and shaking like a leaf just thinking about what’s going to happen.

[Paule]

Re: Debt problems

so wondering whether to open account with a bank I have no loans with.

Yes This is something to Definatly Do,
as with a lot of banks thye have clauses in their loans that allows them to take funds from your current account.

Nationwide do a good basic accounted called Flex Account.

If you have completed the income expendture forms on here, it is a good idea to enclose them with any letters to your creditors, as you can then show them exactley what funds you have / havnet got available.
This will inevitably ask for these anyway, or be it the DCA that comes chasing the debt will.

PKea

[enaid]

Re: Debt problems

You will be down, it's natural this has come as a real blow and you will feel as though there is no light at the end of the tunnel. There is, you only have to read a few of the threads on her to see that.
I think if you are going on benefits then I would open a basic account, there is a good one at the PO. That way if you do incur bank charges they can not take the money from your benefits.
As for your E and I sheet I would fill it in as you are now getting nothing, tell them you have been informed you may get nothing either for about 6 weeks. When you do start to receive benefits you will amend the E and I sheet accordingly.
Good luck with all your claims on the PPI but if per chance they do knock you back we will help you reclaim the contributions as mis sold.
If I have said anything that is incorrect on here Ame will put me straight.
You are in good hands and you will be ok Enaid x

[Sapphire]

Re: Debt problems

Hiya Amethyst

The first thing I was going to do is phone all the C/C company’s and get the ones I have insurance on to send me out claim forms Good idea and also write as well so they can't say you havn't contacted them. Also make sure any and all correspondence you send is done either by recorded delivery or you get a proof of posting from the post office.

I have got the insurance form from Norwich union for Nemo loan and will fill it out with wife tonight. Good, get that done and sent off as well, oh and take a photocopy of it for your files.

Will contact the Woolwich to inform them yes do that and don't forget to write as well.

Going to phone up my bank to find out about loan (worried about that one because I have my current account with them so wondering whether to open account with a bank I have no loans with), yes do open another account for your peace of mind, a few of us here have the Nationwide Flex Account for our household bills etc.

Will have to get in touch with GMAC to arrange to return van make sure you get everything in writing before you go ahead with the return, and I would take advice on that before you proceed. There is a couple of people on here that will help with that.

Am unable to work out expenditure and income as I’m not sure how much I will get from DHSS Do your I/E as it stands today and when you send it off explain that you are waiting to hear from the DSS re any benefits you may be entitled to.

I am pretty down and shaking like a leaf just thinking about what’s going to happen.

Right sit down and calm down, it won't do you or your health anygood at all.

There are letters available for you to use and modify for your own personal circumstances in the template library.
Most importantly keep up a dialogue with everyone and don't hide your head in the sand, (which is a popular thing for people to do, I know that my OH did just that, and I'm digging us out of it now).
Honestly hun this is the worst bit, once you have all the letters posted off you can then deal with things one by one as and when the replies arrive, and we will be here to help you along the way.

((((((((((((((Hugs))))))))))))))))