Am I hardship candidate?

[Tempty]

Re: Am I hardship candidate?

Hi Stew
welcome to beagles, It can't have een easy to write about your addiction and it's consequenses and I commend you for doing so.
I have to echo Sally though, you can spend a lifetime kicking yourself when you're down, You've come so far allready without even seeing what you've done!!
addmitting the problem must have been hard enough, and you've gone futher then that..... you sought help!!!

you can continue to beat yourself up over it ...... or you can choose to strart climbing out of your pit!!
I think you've allready chosen though
Good luck , one small step at a time
see ya at the top

Tempty xx

[stewie082]

Re: Am I hardship candidate?

Morning All!!

This isnt part of my hardship but is part of my problem and something I need to address. I would like to pay the debt but for obvious reasons dont have the money as yet.

Is there a template letter I can send to stall the payments out for now? This was the loan for 1200% APR that I took out. The original loan was for £1000.

Dear MR STEWART xxxxxxxx
Our Client: Pounds Till Payday
Account No: xxxxxxx
Reference No: CCMS00382630
Balance: 1358.8
We have been instructed by Pounds Till Payday to make arrangements with you to repay the above amount. Until further notice all repayment proposals must be agreed with us.
This matter requires your urgent attention and you should now pay the balance. You can make your payment in one of two ways:
EITHER by visiting our secure website at www.payclarity.com OR by contacting us on 0844 561 1715 to make a payment using your Debit or Credit Card
If you are unable to make the full payment immediately and would like to make alternative arrangements, you should reply to this e-mail outlining your proposals and giving a contact number. Alternatively, telephone us on the number above and speak to one of our advisors.
We will be reviewing your account again in seven days.
On behalf of
Clarity Credit Management Solutions Limited
Registered Office: Clarity Credit Management Solutions Limited, Swan Court, Lamport, Northampton NN6 9EZ. Company No: 5307808 Registered in England & Wales
Disclaimer: This message is confidential and may be legally privileged or otherwise protected from disclosure. If you are not the intended recipient, please telephone or email the sender and delete this message and any attachment from your system; you must not copy or disclose the contents of this message or any attachment to any other person. Copyright in documents created by or on behalf of Clarity remains vested in us, and we assert our moral rights, unless the terms of our relevant client's engagement provide otherwise.
Any opinion or other information in this e-mail or its attachments that does not relate to the business of Clarity is personal to the sender and is not given or endorsed by Clarity.

[Amethyst]

Re: Am I hardship candidate?

ouchhhhhhhhhhhhhhhh

Just got this from the template library - not 100% there but a start to edit from

LETTER # 2

Ask Your Creditors to Accept Pro Rata Offers of Payment on Your Debts


Dear Sir/Mr

Re: Your Account Number: xxxxxxxxxxxx

We wish to inform you of a recent change to our circumstances and as such we are unable to maintain the present level of repayments. [Add an explanation here, keep it brief and in one paragraph if possible].

Please find enclosed an Income and Expenditure sheet (here) which details our current position. As is clearly shown, the total amount available for us to repay our creditors has now become significantly reduced.

In view of our circumstances, we have written to all our creditors to ask that they agree to accept reduced monthly payments and that any interest and charges currently being applied to the account be frozen to enable the debt to be repaid as quickly as possible.

To this end, we request that you agree to installments of of £............ per month.

We would like to assure you that it was never our intention to renege on our financial responsibilities and as such, should our circumstances improve, we will contact you immediately with a revised installment offer.

Thank you for your assistance. We look forward to hearing from you as soon as possible.

Yours faithfully/sincerely

[Emerald]

Re: Am I hardship candidate?

This is one of the reasons your I&E needs to be up to date Stewy, without it you can't offer pro rata payments to your creditors.

[stewie082]

Re: Am I hardship candidate?

Hiya Emerald,

I sent a sheet through to Ame to check out, its a round up of everything thats outstanding and what I have to pay every month. Im sure she can pass this onto you if you want to have a peek at it. Most of the exact figures are at the office with the APR figures, I will have to a more detailed one if I am going to be using it going forward. :tinysmile_kiss_t4:

Thanks
Stewie

[Amethyst]

Re: Am I hardship candidate?

Yep I have that Stewie. Going through things now.


Loans Outstanding Monthly

...................................outstanding.... ....pays monthly

RBS............................. 1300.................. 281
Lloyds Tsb.....................1100.................. 182
Welcome Finance .........17500.................. 290
Company Loan...............9600 .................. 500
Barclay card .................. 3400.................. 180
Lloyds Tsb Credit card ......860.................. 90
Co-OpCredit card ............2300..................100


Are these the minimum payments on these loans? do you have charges on them? your IE doesn't have room to make all these payments at this level so really you need to try bring them down to an amount you can afford based on your IE.

I'm taking your Loan Repayment and Credit Card repayments off of your monthly spend figure and working out how mcuh proportionally you should offer them sdo you can manage and get somewhere. As it stands you'll be missing payments some months
on some some on others etc as you have a monthly deficit of over £500 as it stands.

Really all those loans etc need paying of for a total of £580 a month. Theres some bits on your IE too can probably reduce.

The 30k and 17.5k charging orders - were those amounts monthly as determined by the court ? and is the 17.5k one welcome finance ?

so bear with me a bit.


Also on priority debts you have a figure of £1380 - whats that for and are you paying any monthly ? ahhhhhhhhhhhhhhhh is that the PAYDAY Loan ? I'll add that in the proportional figures if so



Okay proportionally this is what you should be aiming at paying monthly on those debts (nee to confirm the few questions above first tho)


RBS ..............................................1,30 0.00 .............20.91
Lloyds ..........................................1,100.00 .............17.69
Welcome Finance .......................17,500.00 .............281.48
company loan ............................. 9,600.00 ............154.41
barclaycard ................................3,400.00 ..............54.69
lloyds c/card ...............................860.00 .................13.83
co-op c/card ................................2,300.00 ..............36.99


The company Loan could be difficult I realise - what kind of agreement do you have with them ?

I hope you arent that fussed about having a fabulous credit rating


What kind of equity do you have in your house ? your mortgage payments are quite high. Also stands out is £250 for travel and fares ?

I don't think you have a fabulous case for hardship and tbh the charges claim if they refund isnt going to make a lot of difference.




This is with the PAYDAY loan in the debts for proportional payments....

RBS ......................................1,300.00 ..................20.15
Lloyds .................................1,100.00 ..................17.05
Welcome Finance .................17,500.00 ...............271.26
company loan ......................9,600.00 .................148.81
barclaycard ........................3,400.00 ...................52.70
lloyds c/card ......................860.00 ......................13.33
co-op c/card ......................2,300.00 .....................35.65
pounds for payday ...........1,358.00 .....................21.05



Did you say you have PPI on most of these, and charges - they might help a bit if you can reclaim them and get the PPI cancelled.

Possibly also ask Welcome Finance for a copy of the original credit agreement (look up CCA requests on here).

[theGobbyOne]

Re: Am I hardship candidate?

Hi Gobbyone!
Thanks for the reassurance. And I hope a breath of fresh air is a good thing
I am still waiting for someone to write into the thread and tell me its my own fault and I should feel the pain like everyone else. Its my own mess, deal with it!

I dont know if this is the right way of doing things, and I am certain there are many other people out there who deserve the help more than I do. But I can assure anyone who has read my posts, this is probably the worst time in a persons life, sure the money is a big part but the other issues that go with it are MASSIVE, I am in this for the long haul. What I have listed on the site is just the tip of the iceberg of what gambling can do to someone.

Thanks again
Stew

i can only echo previous posts............Some of us do have experience with addiction in one way or another and know the desruction and devastation it causes but you can only live for today and look back but dont stare Stewie as it does not help..........You can make all that right with steps 4 and 5!!!!!!!!!!!! You also deserve all the help that the nice peeps in here are willing to offer...........Just because you made a few mistakes it doesnt make you a monster undeserving of help and advice.........This too shall pass and you will get better as each day passes.............
Good Luck

[stewie082]

Re: Am I hardship candidate?

Yep I have that Stewie. Going through things now.


Loans Outstanding Monthly

...................................outstanding.... ....pays monthly

RBS............................. 1300.................. 281
Lloyds Tsb.....................1100.................. 182
Welcome Finance .........17500.................. 290
Company Loan...............9600 .................. 500
Barclay card .................. 3400.................. 180
Lloyds Tsb Credit card ......860.................. 90
Co-OpCredit card ............2300..................100


Are these the minimum payments on these loans? do you have charges on them? your IE doesn't have room to make all these payments at this level so really you need to try bring them down to an amount you can afford based on your IE.

I'm taking your Loan Repayment and Credit Card repayments off of your monthly spend figure and working out how mcuh proportionally you should offer them sdo you can manage and get somewhere. As it stands you'll be missing payments some months
on some some on others etc as you have a monthly deficit of over £500 as it stands.

Really all those loans etc need paying of for a total of £580 a month. Theres some bits on your IE too can probably reduce.

The 30k and 17.5k charging orders - were those amounts monthly as determined by the court ? and is the 17.5k one welcome finance ?

so bear with me a bit.


Also on priority debts you have a figure of £1380 - whats that for and are you paying any monthly ? ahhhhhhhhhhhhhhhh is that the PAYDAY Loan ? I'll add that in the proportional figures if so



Okay proportionally this is what you should be aiming at paying monthly on those debts (nee to confirm the few questions above first tho)


RBS ..............................................1,30 0.00 .............20.91
Lloyds ..........................................1,100.00 .............17.69
Welcome Finance .......................17,500.00 .............281.48
company loan ............................. 9,600.00 ............154.41
barclaycard ................................3,400.00 ..............54.69
lloyds c/card ...............................860.00 .................13.83
co-op c/card ................................2,300.00 ..............36.99


The company Loan could be difficult I realise - what kind of agreement do you have with them ?

I hope you arent that fussed about having a fabulous credit rating


What kind of equity do you have in your house ? your mortgage payments are quite high. Also stands out is £250 for travel and fares ?

I don't think you have a fabulous case for hardship and tbh the charges claim if they refund isnt going to make a lot of difference.




This is with the PAYDAY loan in the debts for proportional payments....

RBS ......................................1,300.00 ..................20.15
Lloyds .................................1,100.00 ..................17.05
Welcome Finance .................17,500.00 ...............271.26
company loan ......................9,600.00 .................148.81
barclaycard ........................3,400.00 ...................52.70
lloyds c/card ......................860.00 ......................13.33
co-op c/card ......................2,300.00 .....................35.65
pounds for payday ...........1,358.00 .....................21.05



Did you say you have PPI on most of these, and charges - they might help a bit if you can reclaim them and get the PPI cancelled.

Possibly also ask Welcome Finance for a copy of the original credit agreement (look up CCA requests on here).

Hi Ame,

Thanks for putting this together. I do have concerns over my credit profile and am trying my hardest to protect what ever is left of it. Thats why paying more than I should on the credit cards, try get those bad boys out of the way.

The company loan is an interest free loan, I agreed to pay back £500 per month to get it down. This was the funds that were loaned to me to catch up my arrears and other payments that were behind. Very kind of them.

The 30k was the unsecured loan that is now secured with my mortgage. So basically my mortgage jumped up by 30k. The welcome loan is at 22% and is secured against my property and I think is for 15yrs.

The mortgage is now for 240K at 5.9%

The £250 is the train fare from where I stay to the centre of london, I have looked at Oyster system to reduce it but its pretty much the same.

RBS is my loan for the vechile I own.

What I was hoping to try and do is to get the fee's awarded to me through hardship.
Pay off Lloyds personal loan, RBS, Lloyds credid card and Co-operative. This would free up £650 odd a month putting me into the possitive.

Why do you think I wont be considered for hardship? Is it even worth trying?

Thanks again
Stewie
------------------------------- merged -------------------------------
THe numbers you worked out look so so much better than what I am paying at the moment. What would the implications be to get the payments down to that level?

Thanks again

[Amethyst]

Re: Am I hardship candidate?

The implications would be some possible defaults on your credit file. Even if the banks etc do agree to them they can still go to court to get them secured on your house as charge orders etc. If you are on a fixed rate deal etc you might not get such a good deal when that comes to an end that kind of thing.

At the moment, if your IE is correct and you are paying the amounts first listed - you must be missing at least one payment a month to enable payment of the others - which of course ends up with late payment markers and fees...otherwise you are borrowing to maintain the payments which also isnt a good idea. With an over £500 a month deficit something is giving somewhere isn't it.

Just being straight with you so if there are other things say.

I don't think you will be classed as in hardship - you have a pretty good income and you are managing (somehow) to keep up repayments - with some shuffling and some decent letters and consideration by these companies you should be able to be straight again.

But you can show that you are struggling financially and the refund will help a lot - you could probably show you are at risk of losing your home if you don't manage to keep up the repayments on the charge orders and mortgage. However as it stands your main hardship is getting some marks on your credit record - and i'm not so sure that thats enough to qualify you.


I am assuming your priority is keeping the house and your family together and happy.

ikkk just read this back and it sounds mean - but hopefully you understand where I am coming from - a refund should be a bonus and you need to act to get things in order from now rather than pinning your hopes on it.

[Amethyst]

Re: Am I hardship candidate?

Sorry - it is just MY opinion.

I'll send over your IE etc to Emerald as you mentioned earlier in the thread - she may see something i am missing.

[stewie082]

Re: Am I hardship candidate?

Dont be sorry! You are being open and I appreciate it and thank you for your honesty, the last thing I need is pipe dreams.

I have pinned alot of my payments down to getting this refund to sort out as much as I can. But you are right, if it comes then its a bonus. I still do however want to give it a go and see the outcome and the help of yourself and the other members of the site it would really be appreciated. By myself would really be betting and the odds wouldnt be good (bad joke)

I am managing to pay for the debts at the current run rate with the loan I was given from the company, but that will be depleated soon. So alternatives would be great.
I have cancelled all the PPI insurance on all the loans and credit cards. The RBS finace (the car) looks like they will payout because I had insurance at the same time.

Dont banks have any duty of care regards gambling after having being asked not to allow gaming sites to be billed?

I am putting together all the bits to make a complete and comprehensive Income sheet. I will send it through once complete if thats ok. And alot more detail into why I pay what I do.

Thanks again, you are a star!!

[Amethyst]

Re: Am I hardship candidate?

Thats brilliant and explains a few more bits - so thank you.

I don't know anything about the duty of care of gaming etc. Sorry. Celestine and the others gave you some links a bit earlier on so may be worth exploring that avenue too.

You haven't received your charges list from the bank yet - I think a letter now explaining your circumstances might be an idea to get things rolling in the reclaim dept. You estimate the region of £5600 so yes it would help a lot. Do you want to draft a letter and we can play with it. Have a read over some of the other hardship threads, and the waiver threads in the OFT forum - quite a few people have written letters asking to be classed as in financial difficulty now so reading those should give you some good pointers.

Lloyds aren't generally paying out - but as you do still have your account with them they should be able to help you in your situation with stopping future charges - there is the probability they will move you to a basic account and orgainse a repayment on any overdraft - that kind of thing that fulfills their obligations under the waiver and the banking code with regards to hardship - just stopping short of refunding. They have on the odd occassion refunded but i honestly couldn't predict if they would in your case as you don't currently have any major threat hanging over you (like reposession orders etc). I know it seems unfair that because you struggle and manage to keep things going you don't get the help you need but its the way its working at the moment. Ladidi's thread will give a bit more info on that side.

Your detailed IE will help back up your letter, and if there are parts of the gaming act you can use we can slot those in to make your case stronger.

Do you want to have a go?

I do think as well as doing that you write to your creditors explaining the circumstances and that in order to keep up payments could they freeze interest etc for a period. If you keep them informed of your situation and show you are really trying to meet your obligations if later things do get too much you may get treated more sympathetically (maybe not but all helps if anyone else trys to take you to court etc)

Also the more expensive things (like the payday loan) could you look at moving those over to the lower interest rate cards if you have credit available ? Mind you thinking if you had credit available on any of those you wouldnt have needed that loan in the first place so maybe a crap suggestion.

Cheers Stewie xx

[jules2008]

Re: Am I hardship candidate?

hello stewie

just read your thread and i have only just joined this site.

It brought tears to my eyes and i really feel for you dont be hard on yourself as we all have problems and the fact that you have the guts to face up to them is great and your family are sticking by you. I am sure part of my problems where due to a relationship breakdown which sent me on a spending spree culture.
can you tell me how you are getting on with your claim have you got anything back yet?
jules

[Emerald]

Re: Am I hardship candidate?

Sorry - it is just MY opinion.

I'll send over your IE etc to Emerald as you mentioned earlier in the thread - she may see something i am missing.

I haven't had it yet.

[Emerald]

Re: Am I hardship candidate?

I have it now, found it in an e-mail I hardly ever use