andy9137's UE Diary

[andy9137]

Cheers and hello -

I will give you some back ground info and hope somebody will be able to offer some advice?

My Wife and I are on a DMP being managed by step change - we started at £63,000 of unsecured debt back in 2009 and now owe £48,000. Debt free is scheduled for 2032 as we only pay £220 a month.

We have 8 defaults and they start to drop off after 6 years from March of next year.

we have been quite happy in this situation but my company want us to relocate to a new part of the country from later this year!!!

Obviously this means moving home! We had thought we would rent (will we be able to??) and buy in 18 months when the defaults drop off assuming we can get a mortgage then.

We had thought when we sell our home we could offer F&F offers to our creditors - any idea what % we should go for and also read on the forum about going down the UE route? What would this involve and could it create more issues?

Some of the original debts have been passed to DCA's whilst others remain with the original lender.

One debt that worries me is an old Barclays CC. The debt has been sold to Link Financial but the account was never defaulted. The entry on my credit file is late payments and is updated every month. Obviously this will not drop off any time soon as its showing as a live account. Is this normal? Should it not have been defaulted and if so could they still do it now?

Any body got any thoughts on this?

Cheers

Andy

[Pixie]

Re: Welcome to andy9137

Hi Andy

Can you give us the details of your debts using this format

• Type of account (credit card/loan)
  
  
• Date commenced (ideally before Apr 2007)
  
  
• 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)

(possibly in a diary) so we know what your full situation is?

Depending on when your accounts were opened I certainly think it's worth you looking at the UE route. That way you're likely to be debt free in 2020 and save yourself £220 a month into the bargain (that's around £42,000!)

If you want to make F&F offers, I would start at 10% and work up if you can. There is a F&F template letter here

Barclays are known for not defaulting accounts though, as you're still making payments through a dmp, they donot need to default you.

If you fall into arrears on your account, or you do not keep to the revised terms of an arrangement, a default may be recorded to show that the relationship has broken down, as a general guide, this may occur when you are 3 months in arrears, and normally by the time you are 6 months in arrears.

There are exceptions to this which may result in a default being recorded at a later stage, such as secured or long term loans e.g. mortgages, or if the product operates in a more flexible way e.g. current accounts, student loans, home credit. If an arrangement is agreed (see Principle 3 above), a default would not normally be registered unless the terms of that arrangement are broken.

[andy9137]

Re: Welcome to andy9137

Not sure how to do a diary?

Anyhow - here we go

Debt 1

• Type of account (loan) - Bank of Scotland
  
  
• Date commenced (29/07/2008)
  
  
• Approx balance £14k
  
  
• Date last paid (approx. May 2009)
  
  
• Are you on arrangement or not paying - On a DMP with Step Change
  
  
• Status (default - 01/08/09)
  
  
• Account owner (DCA )

[andy9137]

Re: andy9137's UE Diary

Debt 2

• Type of account (loan - Santander)
  
  
• Date commenced (14/08/07)
  
  
• Approx balance - £5k
  
  
• Date last paid (Dec 08)
  
  
• Are you on arrangement or not paying - DMP with Step Change
  
  
• Status (default)
  
  
• Account owner (lender)

[andy9137]

Re: andy9137's UE Diary

Debt 3

• Type of account (Loan - Bank of Scotland)
  
  
• Date commenced (30/10/07)
  
  
• Approx balance £6k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP with Step Change
  
  
• Status (default)
  
  
• Account owner (DCA)

[andy9137]

Re: andy9137's UE Diary

Debt 4

• Type of account (credit card - Barclaycard)
  
  
• Date commenced (15/04/08)
  
  
• Approx balance - £2k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying DMP with Step Change
  
  
• Status (in arrears)
  
  
• Account owner (DCA)

[andy9137]

Re: andy9137's UE Diary

Debt 5

• Type of account (Loan - Bank of Scotland)
  
  
• Date commenced (30/10/07)
  
  
• Approx balance - £6k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP with Step Change
  
  
• Status (default)
  
  
• Account owner (DCA )

[andy9137]

Re: andy9137's UE Diary

Debt 6

• Type of account (Current A/C)

• Date commenced (14/4/08)
  
  
• Approx balance £3k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP with Step Change
  
  
• Status (default)
  
  
• Account owner (DCA )

[andy9137]

Re: andy9137's UE Diary

Debt 7



Type of account (Store card - Next )

• Date commenced (03/05/07)
  
  
• Approx balance £5k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP as above
  
  
• Status (default)
  
  
• Account owner (DCA )

[andy9137]

Re: andy9137's UE Diary

• Debt 8

Type of account (Loan - BOS)

• Date commenced (06/11/07)
  
  
• Approx balance £2K
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP as above
  
  
• Status (default)
  
  
• Account owner (DCA )

[andy9137]

Re: andy9137's UE Diary

Debt 9

Type of account (credit card - RBS)

• Date commenced (11/11/03)
  
  
• Approx balance £6k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP as above
  
  
• Status (default)
  
  
• Account owner (lender)

[andy9137]

Re: andy9137's UE Diary

Debt 10

• Type of account (credit card Capital 1)
  
  
• Date commenced (10/3/05)
  
  
• Approx balance - £1.2K
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying DMP as above
  
  
• Status (default)
  
  
• Account owner (lender)

[andy9137]

Re: andy9137's UE Diary

Debt 11

Type of account (credit card)

• Date commenced 03/05/07
  
  
• Approx balance - £5k
  
  
• Date last paid (Dec 09)
  
  
• Are you on arrangement or not paying - DMP as above

• Status (default)
  
  
• Account owner (DCA )

[IF]

Re: Welcome to andy9137

Not sure how to do a diary?

Anyhow - here we go

I've made a separate post for each account andy


Do look at these threads too:

-- >UPDATED - A Full Guide to Unenforceability

-- > Unenforceability Diaries


Best wishes
IF

[Pixie]

Re: andy9137's UE Diary

I don't think that Andy has the agreements IF. As far as I'm aware he hasn't sent any cca requests.

Andy, only debts 9 and 10 will come under the Consumer Credit Act 1974, the others are too new. You could try blagging the newer ones (acting as if they are UE), you could go for UE with the two older ones and sort out your own dmp for the others or you could just carry on paying into the step change dmp.