£10k of Debt. Where do I start?

[TibetanMonk]

Hey everyone

So, I'm in about £10k of debt, I'm 21 and I have no clue where to begin.

I've looked into DMP's however they ask for you to submit detials of all creditors, now this debt was accrued around 2 years ago, so has thus been sold several times and with this, I now cant remember who I actually owe money to. Silly, I know.

Any ideas?

No HP finance and nothing secured. So all unsecured. Majority Payday loans and credit cards and phone bills.

Thanks,

Jordan

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

Are you a homeowner / looking to become one?

Are you in a position to make % offers to settle & close? Your credit file might get trashed plus it's unlikely UE is suitable.

phone bills and the PDL's need sorting separately to the credit card debts.

[TibetanMonk]

Re: £10k of Debt. Where do I start?

Are you a homeowner / looking to become one?

Are you in a position to make % offers to settle & close? Your credit file might get trashed plus it's unlikely UE is suitable.

phone bills and the PDL's need sorting separately to the credit card debts.

I would like to become one, but not for another 4/5 years.

Not all in one go, my salary is good but percentages off at this moment in time is difficult with the baby on the way. What's UE?

Right okay, I've looked at my credit file and Barclaycard are showing as settled and in the green, and no other debts have been opened re the credit card debt.

With payday loans, a lot have stopped charging interest apart from 247moneybox and minicredit.

Both of which I borrowed around £150 and mini credit's debt is £1100ish and the other is £350.

Jordan

[PlanB]

Re: £10k of Debt. Where do I start?

With payday loans, a lot have stopped charging interest apart from 247moneybox and minicredit.

Both of which I borrowed around £150 and mini credit's debt is £1100ish and the other is £350.

We have a PDL Expert on here so I'll ask him to pop in to see what can be done

Maybe a good idea to do a separate post (on this same thread) on each of your other debts so we can tackle them in their own unique way.

UE stands for unenforceable. Some accounts which started before April 2007 can be unenforcible because the original credit agreement was flawed. Sadly that won't be the case with your debts.

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

As a "long-time lurker" (re-read your last PM to me) I do hope you're taking the piss as to "what's UE?"......

UE is what we fight for!

[PlanB]

Re: £10k of Debt. Where do I start?

As a "long-time lurker" (re-read your last PM to me)

[TibetanMonk]

Re: £10k of Debt. Where do I start?

Fantastic, okay. That helps a lot.

Ah', okay, thats a shame that UE doesn't apply. Ah' well.

Okay, I'll begin another post with regards to PayDay loans.

- Jordan

[TibetanMonk]

Re: £10k of Debt. Where do I start?

As a "long-time lurker" (re-read your last PM to me) I do hope you're taking the piss as to "what's UE?"......

UE is what we fight for!

Haha, it's been a long day of recalls and litigation with Trading Standards. Also; it's monday aswell!

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

you have too much spare time you do

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

Ok moving on can you please clarify the mobile - who is the network and what is the balance? When did you last pay into it? Is a dca chasing or is it the mobile company?

[TibetanMonk]

Re: £10k of Debt. Where do I start?

Ok moving on can you please clarify the mobile - who is the network and what is the balance? When did you last pay into it? Is a dca chasing or is it the mobile company?

It's both EE and O2.

O2 - £757
EE - £1300
Three - £53

I believe all debts have been sent to DCA, however, for a while I havent heard from either, which worries me considering its quite a large debt.

Any ideas?

[CleverClogs (RIP)]

Re: £10k of Debt. Where do I start?

Emigrate to Costa Rica for four years.

The debts should all be Statute Barred by the time you return, plus you'll have been able to drink some excellent coffee in the time you were away.

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

It's both EE and O2.

O2 - £757
EE - £1300
Three - £53

I believe all debts have been sent to DCA, however, for a while I havent heard from either, which worries me considering its quite a large debt.

Any ideas?

3 mobile debts? Why so large? How much was the actual debt at the time you last used the phone?

[TibetanMonk]

Re: £10k of Debt. Where do I start?

3 mobile debts? Why so large? How much was the actual debt at the time you last used the phone?

I havent used the phones for years, the mobile debts were when i first started out, lost one phone, got another (EE) and then lost my job. So was unable to pay them. Thats the debts as per the last correspondence I have from them.

[Never-In-Doubt]

Re: £10k of Debt. Where do I start?

Roughly when did you last pay?