Very Vague letter from Debt Managers Ltd

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

Hi All,

Just a quickie to say everything has now gone from my credit record defaults wise.

Had a change of heart regarding getting any mortgages and now set sail towards getting the wife's mortgage paid off as soon as possible, continuing with the student loan payments, 3.5 years to go.

Thanks to all who have helped me on here, it's been great.

If any newbies to the forum want any advice on the path I followed please don't hesitate to ask, I'll be glad to help.

Thanks one and all,

Traintester..

[Pixie]

Re: Very Vague letter from Debt Managers Ltd

Hi Guys,

I've received an almost identical letter from DM and I'm unsure of how to respond. The debt is referenced as Arrow Global - Royal Bank Of Scotland. I've never used RBS so I'm unsure as to what this supposed debt is, though I had a Natwest Account around 11 years ago that should be closed.

My question is as follows, what letter should I send to DM to 1) stop them from pestering me and 2) find out what this supposed debt actually is?

Many thanks in advance!

W

Hi wendel

It would probably be easier if you started your own thread about this. However, I would be sending You know nothing of the Debt / Prove It - allaboutDEBT UK to DM

It's possible that, if you haven't actually closed the Natwest account, they've been adding on charges etc.

[nightwatch]

Re: Very Vague letter from Debt Managers Ltd

Morning wendel. do you have a diary started about this? as with out more info it's hard to answer your question, sorry NWx

[wendel]

Re: Very Vague letter from Debt Managers Ltd

Hi Guys,

I've received an almost identical letter from DM and I'm unsure of how to respond. The debt is referenced as Arrow Global - Royal Bank Of Scotland. I've never used RBS so I'm unsure as to what this supposed debt is, though I had a Natwest Account around 11 years ago that should be closed.

My question is as follows, what letter should I send to DM to 1) stop them from pestering me and 2) find out what this supposed debt actually is?

Many thanks in advance!

W

[jon888999]

Re: Very Vague letter from Debt Managers Ltd

I've just been speaking to a mortgage advisor and the guy on the phone reckons that even after 6 an unsatisfied debt will still be visible to potential lenders and will therefore continue to affect my ability to get a mortgage. Is this right?years

Totally wrong, the defaults are gone for good. Mine plus a CCJ were all gone in July last year. Applied for a Credit Card the next day to rebuild my credit history and now just been offered a Re Mortgage by a normal bank, at a very good rate.
In short as ASDAS say when they're gone they're gone.

[Pixie]

Re: Very Vague letter from Debt Managers Ltd

Great news

[SA Gold]

Re: Very Vague letter from Debt Managers Ltd

Hey hey hey!

Great news, this monument £4187 has gone today, yahay!

One down, 3 to go.

Nice one, result, result. Beer, Beer

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

Hey hey hey!

Great news, this monument £4187 has gone today, yahay!

One down, 3 to go.

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

Fair enough.

Survival improved once I got here, onwards and upwards with your impartial advice CleverClogs!

Mortgage debt (keeping-up-to-date-style) here I come!

[CleverClogs (RIP)]

Re: Very Vague letter from Debt Managers Ltd

Sadly I don't think I'll be able to use this advisor again as he'll have a coloured view of my finances and could bugger up my chances of getting good deals. Shame these people aren't thoroughly versed in the negative side of the credit/debt industry, they could probably make a few quid correctly advising people in my kind of situation to get the right sort of mortgage.

How have you survived for so long?

The "right sort of mortgage" for any mortgage saleswallah "advisor" will be the one that pays him the most commission or the biggest bonus!

[Never-In-Doubt]

Re: Very Vague letter from Debt Managers Ltd

Well some advisers are over cautious so as to stop multiple applications (and rejections) so he might have been being cautious or just plain incorrect.

Thing is in theory if you know the dates of default at 6 years you can chase the CRA's for removal. What vanishes from your view means nobody can see it. There isn't a different version that lenders see - in fact lenders see much less than you see in their abbreviated version.

I'd not worry but at 6yrs then look to chase it if they still show THEN apply for mortgage

[ken100464]

Re: Very Vague letter from Debt Managers Ltd

And not that I would suggest such a thing. But if you are desperate to obtain a mortgage and think you have limited options then you maybe open to suggestions which might suit you less than the advisor.

Not that I said that of course.

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

No no it's only visible for 6 years. The adviser you spoke to is talking nonsense

Thanks NID, I thought so but when you hear that kind of thing coming from someone who is an otherwise respectable and thoroughly efficient mortgage advisor it can make you doubt all the good stuff you've gleaned from this fantastic place that is AAD.

Sadly I don't think I'll be able to use this advisor again as he'll have a coloured view of my finances and could bugger up my chances of getting good deals. Shame these people aren't thoroughly versed in the negative side of the credit/debt industry, they could probably make a few quid correctly advising people in my kind of situation to get the right sort of mortgage.

[Never-In-Doubt]

Re: Very Vague letter from Debt Managers Ltd

No no it's only visible for 6 years. The adviser you spoke to is talking nonsense

[SA Gold]

Re: Very Vague letter from Debt Managers Ltd

My bank account, credit card and all other accounts have been run scrupulously cleanly for 5 years now but I will not pay those who refused me any quarter in my time of need!
Traintester.

Good call Traintester!