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| The independent answer to your debt problems | login join |
Welcome| DW George | 01-05-2007 09:46 PM |
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Joined: 01 May 2007 Posts: 488 My Profile | Welcome to our forum. Our mission is to guide you to debt free happiness (DFH). DFH may take a year, it may take 10 years but regardless of how long it takes our community will support and guide you through the process no matter how confusing it seems to you. DW's community draws it members from all walks of life so you will have a broad cross section of experience and knowledge to draw upon. If you think that you may have a dumb question just ask it, no one will judge you. Aspire to DFH and we will help you achieve it. Good luck |
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tomjonkins
| 09-07-2008 02:03 PM |
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Joined: 09 Jul 2008 Posts: 2 | I have a serious problem with my L/T partner who I have just discovered has taken out some sort of secured loan on our home. A letter of intended repossession of the property has arrived demanding payment of arrears. As I have never been party to this transaction; and effectively a non signatory to any such application, and assuming that my signature would have been forged, I intend to take this company to task for irresponsible lending in order to have the threat of a repo removed. As my partner suffers from mental health issues, and regardless of the fact a loan was issued, it is my contention that this transaction was illegal by mere fact that no representative called or contacted me to confirm that the transaction was legal, or if they did, it certainly was not me they may have spoken to. I intend to fight this company without the use of a rip off solicitor so any advice would be welcome.......Regards.F.John T |
| DW George | 10-07-2008 11:16 AM |
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Joined: 01 May 2007 Posts: 488 My Profile | Welcome to the forum John If the house is in joint names then any sort of borrowing, with the house as security, requires your signature. If your partner forged your signature, then she may be liable to fraud allegations by the lender. This may be mitigated by your partners mental health issues though. However, if your partner was encouraged to forged your signature by the lenders representative then the secured loan company will be in trouble too. You say you don't want to use a solicitor, but I would caution against not taking some form of legal advice. With a solicitor, you are getting a form of guarantee that the advice they give you is correct, no one else can give you that guarantee. If you really don't want to use a solicitor then your first port of call should be your local trading standards. Alternatively speak to the CAB and they may be able to put you in touch with a specialist solicitor. Let us know how you get. George |
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tomjonkins
| 20-07-2008 12:10 AM |
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Joined: 09 Jul 2008 Posts: 2 | To George..............Many thanks for your reply which I find most encouraging; my reasons for not wishing to consult a solicitor arise from bad advice that cost me dear. So far, I am in the process of obtaining credit reports from the three main agencies in order to find out who exactly is owed this debt in order for me to proceed. What I find difficult to understand is how a loan of any significance is not vetted more thoroughly and any signature witnessed by a representative of the lender. Merely by doing a credit check would, I know for sure have disqualified me from obtaining a loan in the first place: and if the lender has approved a loan only on the basis of there being sufficient collateral without a proper check, then surely this is irresponsible lending. All this aside, and as my partner is still denying responsibility, I believe I should go down the road of stolen identity before directly incriminating my partner, which I know I may have to do eventually if I am to save the day...What do you think ???? |
| DW George | 21-07-2008 11:17 AM |
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Joined: 01 May 2007 Posts: 488 My Profile | Tom You don't have to tell me about indiscriminate lending and unfortunately it is allowed :(. Creditors look at you, a borrower, and think we can make a lot of money from you. For the loans your partner has signed you have to prove that you did not sign the credit agreement. To be successful in your application you'll need to get some form of legal advice because it might not be enough for your partner to eventually admit to forging your signature, you may have to get a handwriting expert too. Have you spoken to the Citizen's Advice or Trading Standards yet? George |
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kirsty
| 31-12-2008 06:48 PM |
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Joined: 31 Dec 2008 Posts: 1 | i have been served a petition re o/s debts and a date has been set a the Sheriff Court .(06-01-2009)The petitioners are the local council and it is regarding outstanding council tax debt.They are asking for Sequestration of my estate.Went to see the council re this and was given very little advice( 31/12/2008 is basically a holiday in Scotland) Was told would have to pay in full or a large one off payment (50%) to stop losing my house.Cant find the sums requested. What should i do ? |
| DW George | 01-01-2009 08:40 PM |
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Joined: 01 May 2007 Posts: 488 My Profile | Hi Kirsty You should seek advice from the Money Advice Centre, (usually attached to Trading Standards) at the local council. Believe it or not they act independently of the Council Tax office and will give you the best advice. Unfortunately you have left it a bit late. You could pull together a statement of affairs giving a break down of your spending and what you can afford and what you can pay towards the outstanding debt. If this is reasonable enough to satisfy the Sheriff he may not grant the sequestration. You should try and speak to someone from the council tax office before you go into to court to see if they are happy with you paying your debts over, say a ten month period. Failing that then you are literally at the mercy of the courts. If you have no equity in your house you may not lose it as there is nothing to gained from selling it in a bankruptcy action. George |
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thestud
| 21-01-2009 07:18 PM |
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Joined: 21 Jan 2009 Posts: 1 | Its been 6yr now since i fell into debt,big style....i have creditors coming to people in the street asking about me,is it right that after 6 yr without contact the debt is written off?and if they still persist ,what shall i do as my family n neighbours are getting sick of them thanx,,, |
| DW George | 21-01-2009 07:59 PM |
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Joined: 01 May 2007 Posts: 488 My Profile | Hey stud Have a look at this thread it should answer your question, if not post back and let us know what more info you need. George 6 years - Statue of Limitations thread |
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cherry
| 22-02-2009 01:58 PM |
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Joined: 22 Feb 2009 Posts: 2 | Hi - Ihave just over £5,000 of debt, bank loan, credit cards and catalogue, I've been paying the bank loan for years and it is still about the same balance as when I took it out have refinanced and think this is why Im not getting anywhere with it. Im on benefits with disabled son, do voluntary work and go to collage, but Im really struggling to pay any debts this month. I've been told that in April I can apply for a debt relief order which is like bankruptcy, this sounds great and I really do not want any credit anymore. Ive also been told not to keep trying to make the monthly payments, but the thought of creditors calling me on phone and harrassing me (even though they are not supposed to do that) seems a bit daunting, Im not sure that I could cope well with it. any sugestions about what to do? best wishes, cherry |
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angela leigh
| 01-03-2009 03:29 PM |
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Joined: 01 Mar 2009 Posts: 1 | hi cherry im in the same position as you im £6,000 in debt on benefits whilst at college and hve a little girl if you find out any advice please let me know id be very gratefull, all my credeters keep telling me they wont accept my offers of re payment cause there to low |
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dotty
| 30-03-2009 06:17 PM |
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Joined: 30 Mar 2009 Posts: 2 | debt relief order- who can represent me ? wiil my bank ac be frozen?-do my employers have to know? so many questions but these are from top of my list. Any one able to answer me pleaseeeeeeeeeeeeeeeeeeeeeeeee Thank you in anticipation Dotty |
| paladin | 31-03-2009 09:43 AM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | Dotty Debt relief can come in various shapes and forms. Basically debt relief is part or all of your debt being written off. This can be done informally by writing to your creditors and asking for it or formally through some form of insolvency either through an IVA (Protected Trust Deed) or bankruptcy. If you seek debt relief informally no. one will need to know. However, if done formally then your employers will find out through your tax code changing and the management of your funds in your bank will be taken out of your hands. P |
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dotty
| 01-04-2009 05:39 PM |
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Joined: 30 Mar 2009 Posts: 2 | thanks for your reply p, does any one know if approved intermediary people, who have to represent debtor have beenappointedyet? ho3 does one obtain this representaton. |
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callisto
| 18-04-2009 01:01 PM |
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Joined: 18 Apr 2009 Posts: 1 | Ok perhaps you can clarify my postion for me. I have recently returned to the UK from ireland. The postion i am in is myself and the wife have split up..but i have a considerable amount of debt left there owed to several parties including mortgage arrears...bank loans...credit cards etc. I have always been in contact with them letting them know my situation..but not informing them where i was exactly. What im wondering is i am never going to be in the postion to repay any of the debt..as its quite substantial...if i just ignore all this have they got any power in another jurisdiction..to enforce recovery of the debt if they do eventually catch up with me? Regards Callisto |
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up to my eyes
| 22-04-2009 06:46 PM |
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Joined: 22 Apr 2009 Posts: 8 | Hello I have just joined the forums today as I need some advice, and not too sure who to ask. Also after spending 6 hours at the Citzens advice without being seen am at a bit of a loose end for free advise. I have some outstandign council tax debts which along with many other debts amount to £40000 (2 big loans, credit cards etc) I have been to see an accountant who set up payment plans but due to the short fall in the amount of ins and outs I have I have been told I wouldnt have enough money spare to set up a trust deed to clear these debts. I wrote to all the people I owed money too explaining the situation under instrustion from the accountant as he said if I do this someoen in time will order a payment of charge that i can then take to the court and start sequestration but its been 6 months and the only letters I have had are from the council tax with the threat of a charge of payment, my question is, is this the actual charge or just a threat ? I have no idea what a charge of payment letter looks like. .... |
| View My SOA | |
| DW George | 24-04-2009 10:59 AM |
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Joined: 01 May 2007 Posts: 488 My Profile | First of all, are do you live alone and are you claiming the single persons discount for your council tax? Secondly, your SOA indicates that there is no way on earth that you'll ever be able to repay you debts, so sequestration does seem the only alternative. Councils are usually quite quick to start bankruptcy proceedings they will take you to court and seek a Charge for Payment Order, and you have 14 days to pay the outstanding amounts. Once this time has elapsed they then can start bankruptcy proceedings against you. Once a Charge for Payment has been made, you can then instigate your own bankruptcy proceedings more info here You may be eligible for Low Income Low Assets Bankruptcy. Follow the link for more information about What can a creditor can do? George |
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lillie
| 24-04-2009 01:51 PM |
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Joined: 24 Apr 2009 Posts: 2 | Can anyone advise regarding protected trust deeds.I am currently considering this option (or maybe a debt management plan). I would like to know more about what happens to your home after the 3 years. I currently have debts of around 25,000 but would only have paid around 10,000 after the 3 years on a protected trust deed ( if accepted) I have no equity at present but have heard they could sell your home for up to 20 years to pay back any outstanding debt to creditors. This is a real worry!! Would I get the chance to re-mortgage if that were the case? Would I even be able to after completing a PTD? Any advice would be grateful. Lillie |
| paladin | 24-04-2009 03:24 PM |
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Joined: 06 Jun 2007 Posts: 240 My Profile | Lillie Your house will be assessed towards the end of your Protected Trust Deed. If there is any equity you'll be asked to release it. It is quite likely that you may have equity in the house after that period so your partner may be able to buy out your financial interest in the house or you may be able to re-mortgage. If there is no equity then the IP may review your equity for, I think, about a year -check this with your IP. P |
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uptomyeyes
| 26-04-2009 05:10 PM |
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Joined: 26 Apr 2009 Posts: 3 | Thanks george Im just worried sick, im about 30,000 in dept with hp agreements and ccj,s i dont want to lose the house because my son is disabled and we are settled here. I have been trying to persuade my wife to listen to me and look at dept solutions but she is terrified of losing the house and keeps saying we can cope, but we cant she is kidding her self she is assuming the courts will force us to go bankrupt, no matter what i say to her it not working ive even sugested we go bankrupt and rent but even that didnt work. Regards uptomyeyes |
