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| The independent answer to your debt problems | login join |
| sunday | 23-09-2008 02:00 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | I have been running away from a couple of debts as I have been too scared to deal with them now I relise I need to deal with them head on. I already have a dmp for £2159 and thats going to be paid off in a couple of years time I can well afford the payment on these so that s not really an issue for me. My issue is that I have not signed in the electrol role as was advised you could stay anomynous to debt collection agencies if they do not know where you live, however I am unsure of this. I have had problems gettin a debit card and first thought that it was because of my dmp plan now I believe that it could be because I am not on the eletrol role. The other problems are that a couple of other debts have reappeared i stupidly thought that theses people had forgotten about me and or written off the debt yes I know now that that never happens. One debt is for orange mobile phone I took out the contract years ago about five I beilieve and I got made redundant from the job I was in so could not afford to pay the bill it was around £800 I have not made payment or admitted the debt for 4 years. So I could either hope that they wont take action until it is statute barred or as national debtline have advised either make offer of payment or write to them with a proove it letter I.e ask them to send me the original agreement. I could probably afford £40 a month at a push the debt is of the same time a year older i think which is with Natwest for £1000 the same thing I have not admitted the debt for about 4/5 years. I am too worried to apply for my credit report as national debtline advised me that this is a way that the agencies can track you down. However on the other hand i want to look into buying part of the house that i live that my paretns own in a couple of years so I really dont want a CCJ on my files otherwise I would never get a morgage. Please could someone advise me on the best course of action to take I have limted money to pay back these other two debts but wnat to get my credti rating sorted out please help |
| DW George | 23-09-2008 05:23 PM |
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Joined: 01 May 2007 Posts: 195 My Profile | Afternoon Sunday Welcome to the DW forum. From what you have said it does appear that your are in some sort of pickle. The advice you have received from other people I believe is wrong. Your ultimate goal is to have a good credit score so you can get a mortgage. Not being on the electoral roll is a red flag for anyone who wants to lend you money and does not help you to improve your credit score. Hiding from your creditors and your obligations again will also not serve you well for future loans. It sounds that you have adopted the head-in-the-sand approach to your finances. You should be looking at resolving all of your debts problems, not trying to escape from them. Sermon ended. Plan of Action Nat West and Orange. Write to both of them stating that due to the passage of time you are unsure of the exact terms of the agreement and amount owed and as such you would like a copy of the original agreement. If they can't produce one then bingo, they can't force you to repay a debt they can't prove. If they produce the required details, write again to them stating that you are willing to repay but already in a DMP and can only afford £x. See DIY Debt Management for more information. I hope this helps George |
| sunday | 23-09-2008 06:36 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | thank you for your reply yes you are right I was out of work when all this happened and got into a bit of a sprial really stupid I know . I wish that I hadn't burried my head in the sand and dealt with it all sooner , but credit collections agecies scared me and werent particually helpful to my out of work situation. I have the details of my orange account but unfortunatley not natwest as I didnt keep the the letter but I guess if a get a copy of my credit file then it will alll be on there anyhow . |
| sunday | 23-09-2008 06:41 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | ps i have been told by the national debtline that you can ask for a full statement of the account too is this correct. As I beilieve orange have piled on a lot of interest could I just offer them the actual amount I owe or do I now have to pay the sky high interst rates too |
| paladin | 23-09-2008 09:50 PM |
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Joined: 06 Jun 2007 Posts: 99 My Profile | Hi sunday Take the bull by the horns and contact the Nat West. I am sure they'll be able to track down your account details. As for your Orange account, yes you can offer whatever amount you like. Whether Orange will accept the payments is a different matter. You can always offer an amount and see what they say. Rather than assuming the worst, get hard facts from your creditors and we'll take it from there. You are doing the right by taking a proactive approach to your debts. I know from experience ignoring your debts does not make you feel good. As George often says, "it's good to have a plan". (I think George Peppard A Team said it first, i could be wrong though.) Paladin |
| sunday | 23-09-2008 11:47 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | Hi thanks again for your comments feel a bit calmer now i think I need to get hold of my credit file first so I can contact natwest. Think ill do as suggested and ask for copy of original argrrement first bet they are sure to have one anyway. How long do these companies keep them for i read six years somewhere but is that six years from when that account was opened or six years from when you first default an account who knows . thanks for all help so far |
| DW George | 24-09-2008 09:57 AM |
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Joined: 01 May 2007 Posts: 195 My Profile | Just a thought, where do you live Scotland, England, or Wales? If you live in Scotland and the debt is older than 5 years, 6 years in England and Wales, then the debt is statute barred. This means that the courts will not enforce the original agreement. In terms of how long they keep the records , I think that there aren't any prescribed timescales, just a reasonableness test. Good luck and lets us know how you get on. George |
| sunday | 24-09-2008 04:48 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | Hi I live in england thanks for the info but think I have a year or two before the debts are sb unfortunately :( this is what I was trying to acheive but I worry too much about it going to court |
| sunday | 24-09-2008 04:49 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | however re reading that i took both agreements out around six years ago but i thought the six years sb counted from when you defaulted not from when the contract was originally signed am i correct here |
| sunday | 24-09-2008 09:59 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | me again sorry lots of question I have just found a letter from orange from last year saying they have put a deafault on my account in 2007 surely they cannot do that if I havent contact them in four years surely they can only put one default notice on my credit file from the date that I stopped payment to them am I correct in thinking this I thought that they couldnt put defaults on your file willy nilly |
| DW George | 25-09-2008 09:31 AM |
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Joined: 01 May 2007 Posts: 195 My Profile | Hi Sunday don't worry about the number of questions, we are here to help. Statute Barr comes into effect from the last time any contact about the debt was made or payment. So you can't really depend on the debts being SB'd. Your agreement with Orange dictates how and when a default notice is applied. A default notice is basically a note to say that you are in breach of the terms of your agreement. The default will be lodge with the credit reference agencies meaning that any future searches by creditors will throw this up. A default notice is not a formal legal notice, however, it is the first step in taking formal action against you eg CCJ's etc. Who is your DMP with? Have you spoken to the company to say that you have found another two creditors. George |
| sunday | 25-09-2008 10:22 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | Hi thanks for your replies with the help of you and the national debt line I have decided to hit my debts head on I have decided to contact national debtline again this weekend and see if if it possble to transfer the dmp plan that I have with chiltern already to them and add on these other two debts I have worked out with what I am paying to chiltern now and money left after working out my budget I should be able to pay all debts off in three years time . I am hoping to transfer my dmp plan to national debt line if poss as they do not charge fees Chilern do but not much but it all adds up in the end. I hope that it is not too late to sort this out and that the crediotrs will accept a new dmp plan and then ill be able to sleep at night i have been pondering this for a year now because I have changed jobs and able to afford a bit more to pay them off but didnt want to head in and end up paying what I can not afford I didnt know about the ins and outs before all the research I have done over the last year . Wish i had known what I know now at the beggining as I wouldnt be in this mess but we live and learn I guess . Can i ask what will happen when i have paid them off if they except dmp offers which i think they should as i can afford about £169 a month as long as national debt line will take chiltern dmp plan on as well . hope this all makes sense |
| DW George | 25-09-2008 11:11 PM |
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Joined: 01 May 2007 Posts: 195 My Profile | I am really glad to hear that your are feeling positive about your debt and financial situation. National Debtline should be able to help you out so fingers crossed. Once you have paid off your dmp you should be free from debt. (I take it your current dmp has the interest frozen.) After that you have to build up your credit profile because it will have taken a hammering being in a dmp. You will only be using your credit scoring to obtain a mortgage and nothing else, ie no more debt ;) Hope everything goes well for you at the weekend. It's good to have a plan! George |
| sunday | 26-09-2008 06:45 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | hi I dont understand how having a debt plan will have a bad effect on me if its paid surely if the defaults that I already have are 3 to 4 years old then they will drop off and my record will just be clean again or am i wrong . If I am worng then even if i made agrrements with the creditors themselves then I would never have a clean record does this mean that even if i pay ill still have to wait another six years before everything drop off again . thats not fair in thats the case .also national debt line and chiltren are unable to help me but a company called compass debt counsellos are have you heard of them they say they are registered with the fair trade how do i check this . this is driving me potty again i thought that if i paid then the defaults would drop off my file and i could start again now it looks like not the case please as either way i wont get a clean record for 6 years please clarify |
| paladin | 26-09-2008 07:23 PM |
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Joined: 06 Jun 2007 Posts: 99 My Profile | To be in a debt management plan you need to break the terms of your agreements with your creditors. This will be noted on your credit file. A lender will consider the risks in lending you money. Your debt management plan indicates a willingness to take responsibility for your debts and to pay them back. This will be seen in a positive light by any future creditors. Whilst in a DMP your credit score will not be as good as someone who is not in a DMP, but better than someone who is in an IVA. Get a copy of your credit file to see what's on it and then you'll know for sure when it will be clean. Have you tried CCCS or even doing a DIY Debt Management Plan Hope this helps P |
| sunday | 26-09-2008 07:35 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | thankyou so much i broke the agreement three to four years ago so assuming i now pay off the remainder withing the next two years then my credit file will be clean yes just totally confused as people keep telling me different things |
| sunday | 28-09-2008 12:26 AM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | Hi many thanks for putting me in touch with cccs they couldnt help me as i dont owe enough money how bizarre is that but they put me in touch with payplan . they basically told me to wait and see if orange and natwest send me court papers . they said just because you are sent court papers it does not particuarly mean that you are going to get a ccj. they said that the court is only there to help both sides settle the matter. I had a long chat with the guy on the phone and he said that it is more worth while to do a do it yoursel dmp plan as why should you pay a fee to a company when you can do it yourself. So here is the thing As my job has changed scince last year i have worked out my budget plan and although the cost of living has gone up so have my wages so it works out that I can pay the creditors a lot more than I have been paying through the debt management plan . two of them i can pay more than they were asking for in the first place and the biggest one i can pay again more than they were asking for in the first place . Meaning that I can be free of those debts in 9 months time and should I get court papers from the others I'll have paid those debts off and can use the money I was paying to those for the other ones should they pursue further . Hope that all makes sense and I hope that the creditors will accept my increase of payments I just need a letter now to send off to the creditors and the addresses of the creditors so hopefully the dmp plan i am in now will be able to give me the addresses |
| helpmenow | 30-09-2008 09:32 AM |
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Joined: 15 May 2007 Posts: 38 My Profile | Hi sunday I have been following this thread with some interest. I am glad to read that you have sorted out your finances and feeling more positive about them. I know from my experience that prior to my IVA I was ignoring everything and it was making feel sick. I was off work with stress, which was made worse due to my lack of sleep. After my IVA I was a lot happier although I do sometimes look back and think why did I allow myself to get into this position. Sunday, I would say that you shouldn't allow your creditors to take you as far as court, speak to them before it gets that far and try to arrange some sort of payment schedule with them. My fingers are crossed for you sorting out your debt problems. I did laugh when I read that CCCS wouldn't help you because you didn't have enough debt. All the best HMN |
| sunday | 04-10-2008 05:27 PM |
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Joined: 23 Sep 2008 Posts: 14 My Profile | hi just to let you all know many thans for all your replies I have taken the bull by the horns and added my other two debts to the dmp plan i am already with . Which now I'll be out of debt in 22 months :). I haven't been on the electrol role what happens now when I put myself on it. Will the creditors start to write to me more ? |
| DW George | 06-10-2008 10:18 AM |
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Joined: 01 May 2007 Posts: 195 My Profile | Hi sunday I am glad to read that you are now dealing with your debts. Your creditors may already know where you are, but as has been said before it isn't really in your best interest to hide from your creditors. If they do start writing to you tell your DMP company and they will write to them and ask them to stop as you are paying what you can afford. In any case you can only pay what you can afford outside of reasonable living expenses and that's what a court would say also. Keep up the good work! George |
