Looloo dipping her toe in the water Pre UE diary

[LooLoo]

Well the Boss man :bannid1 has put the idea in my mind that maybe I should have a look at UE

I am not 100% about this but I know lots of you have gone down this route (been busy reading lots of your diaries) but I have a few questions of my own (sorry I know they have probably been covered in other threads - so apologies if you feel like you are repeating yourselves......)

Firstly I have applied for my credit reports (already got Equifax) so will be sending them to Niddy so he can have a look for me and then I can decide what to do. I will also need to chat this over with Mr Looloo.

I think most of you know at the moment I am doing my own self managed DMP which has been running for just over a year with not much fuss. My plan was once my house sold and divorce settled to offer my creditors F and F offers. However now it looks like I will be going to court (as the ex would rather spend 5K plus on court fees then settle on an agreement) so I will end up with pennies rather than pounds from the house sale. If my creditors carry on with accepting my payments - I would envisage I would be debt free in around......... 8 - 10 years, providing they continue to accept my payments as they are and not add interest.

My worries are……. That obviously as things stand I get very little hassle from any creditors. The odd letter reminding me I am in arrears and not much else – so should I rock the boat?

However I understand once I decide to go down the UE I should brace myself for letters/phone calls and who knows a doorstep visit. I know having Niddy around is FAB as he always had the correct letter to send out and amazing help advice and support, but how do you cope with the phone calls etc? Do you just refuse to take the call? Ignore the letters?

I know a few of you have had door step visits this worries me a bit as I am not at home during the day – do they just leave their pleasant calling card?

As so many of you are going down the route of UE I can but only assume that all this is bearable for the end gain?

Also once this debt is 6 years old and has fallen off you credit report – will the creditors stop hounding you? Or is this something that they can hound you for forever?

Sorry I know this is a bit longwinded………. But I really would appreciate to hear some of you experiences and how you were maybe like me a bit nervous of staring this. I will keep looking at the diaries and who knows…. We may soon be seeing Looloo’s UE Diary.

[swanfan]

Re: Looloo dipping her toe in the water Pre UE diary

Hiya LooLoo

Everyone's UE journey is different, even if you have the same creditors.

As far as doorstep visits go they have no right to enter, you can simply tell them to get lost.

Regarding phone calls it's down to individual preference, i personally have caller display & let any numbers i don't recognise go to answer machine. Other people answer but fail the security questions. The other option is to change your number.

The letters you receive may look threatening but simply are just that threats.

Your concern about them chasing for 6 years, in my experience they chased for 12 months maybe less again depending on cc company but this has in virtually all cases tailed off to just the odd letter or 2 per month if that from 4 creditors.

Hope this helps x

[LooLoo]

Re: Looloo dipping her toe in the water Pre UE diary

Thanks Swanny

yep it helps a lot.

I think I will have a serious think about it all over the next month.

xx

[MrsD]

Re: Looloo dipping her toe in the water Pre UE diary

Hi Loo

Thought I would throw in my tuppence worth. Doing UE doesn't seem to me to be any worse than doing the DMP, and I don' have to ever talk to any of the muppets doing UE whereas I did to arrange things whilst on the DMP. We don't answer the phone, if we don't recognise the number and they usually leave a stupid message which I then delete. We have had a lot of doorstop threats but no actual visitors as yet. They have no power so should I be here, they'll get told to do one. Remember all the hoops the financial industry made you jump through and remember all the mismanagement and huge interest rates, UE is fighting back because most of them are crap at paperwork and are arrogant and think they can do what they like, gives me immense pleasure to say "bugger off!"
Go one you'll love it too!

[diddlydee]

Re: Looloo dipping her toe in the water Pre UE diary

Hi looloo hun.

Obviously, the final decision has to be yours, but if you have (or will) read my diary, you'll see what sort of thing to expect.

One creditor hasn't been in touch at all since I requested the CCA - bliss (touch wood!) - whereas when I was struggling to make payments, they were constantly harrassing me for payments, and adding fees/interest.

Other's pass the file from pillar to post. Each time a new "agency" gets involved, they threaten action, I respond per Niddy, then they pass the file back to the original creditor, who passes it to someone else. So far, I can only describe it as a Merry-go-round; I get a letter, they get Niddy's letter, they pass the file on, so it starts again!

I actually get very few 'phone calls these days - the only ones I do get are from HSBC (or there reps), who ring 5-6 times a day for a couple of days, then give up for a few weeks. At the beginning, I had quite a lot of calls, which I ignored (caller display is a handy tool).

I sent an "harrassment by phone" type letter to one creditor, and they've apologised and not rang since.

In my opinion, it will be the first couple of months which will be the hardest, as that seems to be when the put the maximum pressure on. If your creditors have your home phone number, it might be best to change it when you start the process, as that is when the calls start to come. Fortunately mine have never had my work or mobile numbers as they probably would have tried them too.

I have had a couple of "home visits" by one creditor, but I didn't answer the door. First time hubby answered and told them I wasn't in; second time I ignored it and he left a card. So I whizzed a letter off to them per Niddy, and they have stayed away (touches that bloody wood again!)

It's a battle of wills - that's the best way to describe it - but it does get easier, and can I say this......? It actually becomes fun!

If you fancy joining the club, you'll be in good company, and we'll all be here to offer support

[LooLoo]

Re: Looloo dipping her toe in the water Pre UE diary

Thanks everyone

Great help and I am have a nose through all your diaries.

I am just sorting out my divorce paperwork and once that is done.... i think that UE is something I will seriously consider.

xxxx

[Never-In-Doubt]

Re: Looloo dipping her toe in the water Pre UE diary

Well the Boss man :bannid1 has put the idea in my mind that maybe I should have a look at UE

He's probably right too - you should consider it!

I am not 100% about this but I know lots of you have gone down this route (been busy reading lots of your diaries) but I have a few questions of my own (sorry I know they have probably been covered in other threads - so apologies if you feel like you are repeating yourselves......)

;;L

Firstly I have applied for my credit reports (already got Equifax) so will be sending them to Niddy so he can have a look for me and then I can decide what to do. I will also need to chat this over with Mr Looloo.

Ok, let me know when you get them back and we'll sort through it and get things rolling for you - if you're happy to go this way of course

I think most of you know at the moment I am doing my own self managed DMP which has been running for just over a year with not much fuss.

Yea but the debt is stagnant - it just sits there doing nothing so you'd be better defaulting and then letting the SB clock kick in.......

My plan was once my house sold and divorce settled to offer my creditors F and F offers. However now it looks like I will be going to court (as the ex would rather spend 5K plus on court fees then settle on an agreement) so I will end up with pennies rather than pounds from the house sale. If my creditors carry on with accepting my payments - I would envisage I would be debt free in around......... 8 - 10 years, providing they continue to accept my payments as they are and not add interest.

They will add interest at some point - its rare they will let you off with it for infinity.....

My worries are……. That obviously as things stand I get very little hassle from any creditors. The odd letter reminding me I am in arrears and not much else – so should I rock the boat?

How much do you pay (collectively) per month to them? Then work out if that saving is worth the hassle.... however as for hassle, see notes at the bottom of this reply.... as you're selling up, you will not have ANY hassles.

However I understand once I decide to go down the UE I should brace myself for letters/phone calls and who knows a doorstep visit. I know having Niddy around is FAB as he always had the correct letter to send out and amazing help advice and support, but how do you cope with the phone calls etc? Do you just refuse to take the call? Ignore the letters?

Phone calls will not affect you, you're selling so you'll get a new number. Addres for visit - likewise, you're moving so how can they visit when you do not give your forwarding address? (Instead you set-up a mail divert for 12 months from current address to new address)

I know a few of you have had door step visits this worries me a bit as I am not at home during the day – do they just leave their pleasant calling card?

If you're not in - GREAT! Lol, means you don't get to speak to them. They have no rights, only a court appointed bailiff has rights and even those are sketchy and restricted so don't worry about this. If you ever got a visit you'd just say - do one and close the door. Simples. Even Ann has fended off a few - if she can do it then you most certainly can!

As so many of you are going down the route of UE I can but only assume that all this is bearable for the end gain?

Debt free in 6yrs usually - that also means clean credit report and all debts statute barred.....

Also once this debt is 6 years old and has fallen off you credit report – will the creditors stop hounding you? Or is this something that they can hound you for forever?

Nope, they cannot demand repayment on a statute barred debt which would occur 6yrs from date of last acknowledgement (i.e. payment)

Sorry I know this is a bit longwinded………. But I really would appreciate to hear some of you experiences and how you were maybe like me a bit nervous of staring this. I will keep looking at the diaries and who knows…. We may soon be seeing Looloo’s UE Diary.

Longwinded - had you read 3 diaries - any 3 - you'd have got all these answers! Don't you think i'm busy enough woman? nah

Seriously though LooLoo, have a think and let me know if you want to proceed. Like Ann you're in the enviable position of moving shortly meaning you simply set up a royal mail post divert for a year and communicate this way - you get a new phone number when you move (don't transfer it) and do not create any financial links then you'll already have a clean credit file as such.

So if and when you sell up, just stay with DH as a lodger - so you do not go on electoral register and you most definitely do not move any accounts to the new address (creating a link) so that means closing all existing accounts and opening a new one at the new address, such as a Barclays or Coop basic account. What is your current banking like, ie do you have basic or full banking facilities? Any credit cards etc (that you still use)?

Basically, you can hide for a year and then after the mail divert ends you could just vanish for a couple more years then after 3yrs you'd be fine to go on electoral register and then apply for credit again - in some cases with the same lenders that you "still" owe to (don't ask, Niddy can also be a devious devil lol)

[LooLoo]

Re: Looloo dipping her toe in the water Pre UE diary

Ah sorry Nid I have been reading the diaries honest guv but I needed things clear in my own mind sorry to make you work some more.........

My bank account is basic with the co-op but my problem is the co-op are one of my creditors........ so if I do start this I will need to open one with Barclays.

Let me send you my credit reports and see what you think then I will start a proper diary

Thanks so much gh

[Never-In-Doubt]

Re: Looloo dipping her toe in the water Pre UE diary

Ah sorry Nid I have been reading the diaries honest guv but I needed things clear in my own mind sorry to make you work some more.........

My bank account is basic with the co-op but my problem is the co-op are one of my creditors........ so if I do start this I will need to open one with Barclays.

Let me send you my credit reports and see what you think then I will start a proper diary

Thanks so much gh

Hiya, yea get a basic barclays one opened - they offer a debit card too

Plus unlike coop they don't use the 3 strikes and you're out rule (3 bounced payments etc and coop close the account)..... But yea, send me a copy of your report(s) and i'll have a mooch through for you if that's easier for you...... do you have access already?

Hope the above answers help to ease some of the questions? If not ask away, i'm just kidding.....

[LooLoo]

Re: Looloo dipping her toe in the water Pre UE diary

Cheers - I have Equifax (but on my real work PC so will access it when I get home from pretend job) Experian are sending me the code so I can look on line so should have that this week too.

haha i don't hang about when I get an idea in my brain!

Cool I will open a Barclays account then and get everything changed over

Thanks so much

[Never-In-Doubt]

Re: Looloo dipping her toe in the water Pre UE diary

Cheers - I have Equifax (but on my real work PC so will access it when I get home from pretend job) Experian are sending me the code so I can look on line so should have that this week too.

haha i don't hang about when I get an idea in my brain!

Cool I will open a Barclays account then and get everything changed over

Thanks so much

So it seems! (that there is no stopping you)..... as for barclays, hold fire til you've moved

[jen_br]

Re: Looloo dipping her toe in the water Pre UE diary

Loo loo, I thought this whole process was scary I thought id be kicked out of the country and all sorts. But really its not that bad and im just counting down the days I feel happier about life since starting this.

[MrsD]

Re: Looloo dipping her toe in the water Pre UE diary

looks like you're joining the happy band Loo, welcome!

[LooLoo]

Re: Looloo dipping her toe in the water Pre UE diary

Thanks my lovelies... probably should've started this a year ago eh

xx