handling debts-am I doing correctly?

[Roger]

Seems you want to separate your wifes account from yours?
The obvious question is whether these accounts are in your name or joint names!

What you ideally want is a separation between your accounts and that of your wife!

The only credible way is for you to take control of your Debts!
It isn't as if you are telling them something that they don't already know!
Defaulting you means closing the account probably with the intent to sell!

This control starts with the CCA s.78 plus £1 AAD template to those accounts other than your wifes!

[iko]

Thank you for all the replies

I have sent summary of budget sheets to the 2 other creditors,
(summary-so it didn't include the details of lenders,just the total sum of debts)
and started paying token payments before they replied.
one of them was ok with it and defaulted the account rapidly,
but the rest are not defaulted yet,just marked as payments missed.

This ratesetter is the only one insisting on getting this form THEY supply filled,
which include the details of all the creditors.
As The Tech Clerk mentioned,it's true they can access CRA so
it's not that there is a secret-

As one of my account is defaulted anyway,I feel it's easier they all
get defaulted and passed onto debt collecting agencies?
(The are all still with the original lender)

As for CCA, this ratesetter debt is only from 2017,is it still
a good idea?

4 of them are in my name only-
1 in joint(water bill)
and 1 in my wife's name.

(water bill-currently I'm trying to make some arrangement with water company.)

[iko]

Allow me to ask one more question..

One of the debt is overdraft.They have been charging interest every month.
I sent a letter asking to stop adding interest, yet it's still being added.
Also I'm not very sure how to handle with the overdraft-currently I'm just not
paying anything at all...

[Roger]

I think you can exclude your wife's account AND her income.
The water-bill is a Utility Bill these are considered a higher priority than your other unsecured 4 debts.
This means concentrating on the water-bill (both names) as a priority debt to resolve this.

This leaves with YOUR debts
Overdrafts (determined in Court) are also subject to CCA S.78 plus £1
Then the other three debts.

Now please create diary entries for each of your four debts (round the debt amounts so that these won't be identifiable)

Use this format for each one >

• Type of account (credit card/loan/overdraft)
• Date commenced
• Approx balance
• Date last paid (approximate date you last made a FULL payment)
• Are you on arrangement or not paying
• Status (default/in arrears/up-to-date)
• Account owner (who is writing to you, a DCA or the lender or a debt purchaser

This will help you and AAD .

[iko]

Thank you for the suggestion of separating accounts
as I never considered-seemed complicated-
I will have a think.

There are details created on page 1 when I first started posting.
Thank you

[Roger]

Thank you for the suggestion of separating accounts
as I never considered-seemed complicated-
I will have a think.

There are details created on page 1 when I first started posting.
Thank you

That's only your four accounts!
Your wife's is her own account NOT yours to report!!

The Utility Bill will take priority over the other Debts!
In taking control over your debts and indeed what you can or cannot pay/save remember the UTILITY BILLS, Food, Home, Health come first this is far more important than unsecured debts!

[iko]

There are 4 debts of mine as mentioned,
and the water bill-nothing else.

Water Outstanding 1,800,
had been in payment plan until 2 month ago?
I have been communicating with them constantly,
currently trying to have a new payment plan,waiting for their response.

[Warwick65]

As Roger says, your water bill is a priority so focus on that. as for the rest, as I said before your best bet is to get the debts sold on. It is more likely if you stop paying but of course you run the risk of them getting heavy.

I had an overdraft with a different bank and it took them forever to default me- however they never sold the account on and didn't take me to court so it is now statute barred. It is true that a court did rule S78 requests were valid for overdrafts, unfortunately it was not a binding decision. You can use it to try and persuade a judge but it is not binding on them. Judges are funny creatures who often inhabit a world so far dissociated from us mere mortals they don't understand what being is debt is all about.