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Good Afternoon All
I am a newbie here but require some help in my fight against debt collection agencies and the financial institutes, which I have been in a battle with since circa 2010.
However, after a long period of no contact by agencies, I received a few letters only days apart. Firstly they came from Cabot and Bank of Scotland (BoS) to notify the debt had been sold and then a few days later by Marlin stating they were acting on behalf of their client and were looking to issue a Decree via Sheriff Court in Scotland.
The debt relates to a BoS current account overdraft approx £4k with no payments being made since Oct 2010. Since this point until 2012 I was in constant communication with the banks and agencies to negotiate full and final settlements. I started to request credit agreements and also sent full income and expenditure (I&E) sheets. Despite this no answers were really given and the chasing agency kept changing after a matter of weeks. However, in early 2012 everything went quiet.......UNTIL NOW.
BACKGROUND
The background to this debt and all other is that I set up my own limited company in 2009 selling insurance online. There were delays between August to December 2009 getting registered with the principal company and the FSA, which prevented me from trading immediately.
During this delay money was borrowed through loans, HP and credit cards to finance normal household expenditure. I was unable to remortgage my debts due to inadequate proof of income and less than two years of trading. Further borrowing was needed to make ends meet.
In May 2010 our company ceased to trade and I went to work at a local Airport. From May to October 2010 I tried to continue monthly payments to my creditors; however I was unable to service them. The financial strain took affect and I was paying out double what was coming in.
In August 2010 I looked at careers in a skill shortage discipline and I decided to retrain as a pipe fitter and commenced an Apprenticeship (whilst continuing full time employment within the Airport due to only receiving a £90 training allowance at my apprenticeship in year 1). At the end of Year 1, I was taken on by a sponsor, but they opted to move the discipline from pipe fitting to welding. Unfortunately, the apprenticeship ended when I was entering my third, since the said sponsor chose to change the discipline back to pipe fitting, due to new business needs. This meant I would need to repeat Year 2, which was not going to be financially viable, since I was already relying on vast financial support from the family.
I then had to take any role on to make ends meet and began to operate as a taxi driver in my local area on yet another low wage.
The main rationale behind this was due to my deteriorating credit rating (as per above) I was unable to secure employment within the Financial Services sector for which I am experienced and qualified. Around that time my partner also returned to work to assist with family finances.
We receive tax credits which cover approximately 80% of our childcare costs. Presently we are not in a position to make monthly payments to our creditors and normally require about £200-£300 of assistance from parents to cope financially.
DEBTS
It is with this background in mind what we proposed to these agencies and banks is a one off full and final settlement payment in the region of 25-30% of the debt value and on a pro rata basis amounst creditors to deal with this matter. The funds will be provided by a benevolent family member not ourselves directly.
At present there is approx £60k of unsecured personal debt between a range of loans, personal guarantees, credit cards, HP and overdrafts. The debts are mainly with BoS and RBS and their feeder companies chasing the debts.
I own the property and have £80k equity. This equity technically belongs to my wife, after she received life insurance when her previous partner died. In any case, I cannot release this unless I sell the house. I have tried going down Trust Deed routes but this was not viable. So if I were to sell the house not only would solicitors block the equity, she looses her money and also we could not get another house due to the credit file issues now present. As we technically made ourselves homeless our local council would not allow a council house either I was informed.
HELP
Can anyone help me in this recent development with Marlin or advise me how to handle??
Are Marlin the type of agency just to pull a trigger? This worries me due to the speed of these developments.
What should I be requesting of Marlin in terms of SAR, CCA agreements, etc?
All thoughts welcomed. My fear is if they shoot the first bullet for decree others will quickly follow.
I am a newbie here but require some help in my fight against debt collection agencies and the financial institutes, which I have been in a battle with since circa 2010.
However, after a long period of no contact by agencies, I received a few letters only days apart. Firstly they came from Cabot and Bank of Scotland (BoS) to notify the debt had been sold and then a few days later by Marlin stating they were acting on behalf of their client and were looking to issue a Decree via Sheriff Court in Scotland.
The debt relates to a BoS current account overdraft approx £4k with no payments being made since Oct 2010. Since this point until 2012 I was in constant communication with the banks and agencies to negotiate full and final settlements. I started to request credit agreements and also sent full income and expenditure (I&E) sheets. Despite this no answers were really given and the chasing agency kept changing after a matter of weeks. However, in early 2012 everything went quiet.......UNTIL NOW.
BACKGROUND
The background to this debt and all other is that I set up my own limited company in 2009 selling insurance online. There were delays between August to December 2009 getting registered with the principal company and the FSA, which prevented me from trading immediately.
During this delay money was borrowed through loans, HP and credit cards to finance normal household expenditure. I was unable to remortgage my debts due to inadequate proof of income and less than two years of trading. Further borrowing was needed to make ends meet.
In May 2010 our company ceased to trade and I went to work at a local Airport. From May to October 2010 I tried to continue monthly payments to my creditors; however I was unable to service them. The financial strain took affect and I was paying out double what was coming in.
In August 2010 I looked at careers in a skill shortage discipline and I decided to retrain as a pipe fitter and commenced an Apprenticeship (whilst continuing full time employment within the Airport due to only receiving a £90 training allowance at my apprenticeship in year 1). At the end of Year 1, I was taken on by a sponsor, but they opted to move the discipline from pipe fitting to welding. Unfortunately, the apprenticeship ended when I was entering my third, since the said sponsor chose to change the discipline back to pipe fitting, due to new business needs. This meant I would need to repeat Year 2, which was not going to be financially viable, since I was already relying on vast financial support from the family.
I then had to take any role on to make ends meet and began to operate as a taxi driver in my local area on yet another low wage.
The main rationale behind this was due to my deteriorating credit rating (as per above) I was unable to secure employment within the Financial Services sector for which I am experienced and qualified. Around that time my partner also returned to work to assist with family finances.
We receive tax credits which cover approximately 80% of our childcare costs. Presently we are not in a position to make monthly payments to our creditors and normally require about £200-£300 of assistance from parents to cope financially.
DEBTS
It is with this background in mind what we proposed to these agencies and banks is a one off full and final settlement payment in the region of 25-30% of the debt value and on a pro rata basis amounst creditors to deal with this matter. The funds will be provided by a benevolent family member not ourselves directly.
At present there is approx £60k of unsecured personal debt between a range of loans, personal guarantees, credit cards, HP and overdrafts. The debts are mainly with BoS and RBS and their feeder companies chasing the debts.
I own the property and have £80k equity. This equity technically belongs to my wife, after she received life insurance when her previous partner died. In any case, I cannot release this unless I sell the house. I have tried going down Trust Deed routes but this was not viable. So if I were to sell the house not only would solicitors block the equity, she looses her money and also we could not get another house due to the credit file issues now present. As we technically made ourselves homeless our local council would not allow a council house either I was informed.
HELP
Can anyone help me in this recent development with Marlin or advise me how to handle??
Are Marlin the type of agency just to pull a trigger? This worries me due to the speed of these developments.
What should I be requesting of Marlin in terms of SAR, CCA agreements, etc?
All thoughts welcomed. My fear is if they shoot the first bullet for decree others will quickly follow.
