The start of a debt free life

[JLC]

Re: The start of a debt free life

Send the harassment template letter.

[Frosty873]

Re: The start of a debt free life

Well as I haven't (and would never) have given permission for anyone to contact me at work I'll just make a note and remember 'violation of fair debt collection rules'....

The only problem is I don't know who it is! Could narrow it down to 2/3 though that had been trying my mobile before I changed my number

[nanna58]

Re: The start of a debt free life

Out of order , send the harassment letter adding in Not to be contacted on Any number they have for you , i was contacted at work some years ago and the letter worked i also noted down that someone had phoned.

[marypoppins]

Re: The start of a debt free life

From my experience, which of course was a few years ago. I think it was Barclaycard and MBNA who were the only one's that called work.

Fortunately, I take most of the calls so it wasn't a problem but they weren't persistent so hopefully you won't get any more.

There's not a lot you can do if you don't know who it is though, unless you write to all of them which could alert them to your 'file' and put on the pressure.

I'd just lie low and see what happens.

Although you are assuming it was a debt collector, could it have been anyone else?

[cymruambyth]

Re: The start of a debt free life

The trouble is a lot of application forms request work phone number which we all happily give when we are hoping for the credit! Even if they don't have the forms this information will have been input on to your data record. If you get more calls, all you can do is send the phone harassment letter to all your creditors.

[Susiebling365]

Re: The start of a debt free life

Well done on making a start Frosty.

I'm pretty amazed at the amount of credit you got just since the beginning of 2016 - almost £36k! Don't think that I'm judging you because I'm definitely not. I'm just wondering if there could be a case for irresponsible lending?

I think most of the lenders are irresponsible,and deserve how they get challenged (and lose when people come to AAD!!I used to wrestle with the notion that I should pay my debts.But when you look at that one of £19k when they have boosted it up from 17k....its disgusting,and they will not help just keep bleeding every penny they can get.

Well done you for turning it around on coming here, its a learning curve and you will be empowered on here and get through with the support you re given , just follow advice hints and tips , you will be so much happier .

[Susiebling365]

Re: The start of a debt free life

"I'm feeling a bit sad now I thought this was supposed to be none judgemental and supportive. Yes we don't want to go bankrupt because we could (in theory) pay it off quicker than the order would last."


Don t be, the guys on here say it as it is, there is no judgement only sound advice which you can take or leave as you wish, and if needed ( as I have experienced ) good quality support if court or suchlike is needed. I think when you first come on here you feel vulnerable and sensitive, loads of questions and thoughts.

No use wrapping up the facts , but take it from me and thousands of others, you are in the best place for your given issues. you will be fine and laughing soon.

Chin up and have a glass of wine.(or tea if you re tee total )...

[Frosty873]

Re: The start of a debt free life

The fun and games begin - just updated post 7 with letter from bamboo. In terms of requesting a CCA (when we need to) will it be me or my guarantor which happens to be hubby?

[cymruambyth]

Re: The start of a debt free life

Loan with Bamboo - mine (hubby guarantor)

Date commenced - March 2016 (initially took out £5000 paying £213 per month over 48 months)
Approx balance- £8100
Date last paid - March 2017
Are you on arrangement or not paying- not paying
Status (default/in arrears/up-to-date) - about to go into arrears
Account owner - lender

11/04/2014- letter received today saying "missed payment- default notice" saying that the notice is being served in accordance with the CCA and not asking for full repayment of the loan in full but if the missed payment of £213 is not paid within 20 days further action may be taken blah blah blah. Surely this not the actual default for one missed payment?

It depends on what the notice is titled, do they quote the Consumer Credit Act s 87?

When you update threads, can you quote the original post and then have a new post as it is easier to find! Posters often do different coloured writing to differentiate between you and the bank/DCA.

[Frosty873]

Re: The start of a debt free life

Sorry I'm typing on this forum from my phone so having problems quoting and changing colours of font etc- will sit at my desktop at work and try to discreetly update in my lunch break where I can!
Anyway, just saying hello to everyone- gone earily quiet... a few emails and letters saying we've missed a payment although no official default notices as yet. Not expecting the defaults for a few months to be honest; guessing none of our creditors are in a hurry to stop adding interest and charges! One thing I wanted to ask was the bamboo loan we have is in my name, however hubby is the guarantor- when the time comes, who should request the CCA- me or hubby?
Frosty xx

[cymruambyth]

Re: The start of a debt free life

As, it should be you it is in your name.

[Frosty873]

Re: The start of a debt free life

Zopa loan - hubbys

04/05/17- email received from lender to say account has been transferred to debt collection agency

Hubby hasn't received a default notice yet, do not been given the chance to remedy the two missed payments! Am I right in thinking without a default notice this would be seen as unenforceable?

[Frosty873]

Sorry its been a while since I last updated my diary - things are starting to look up a bit managed to settle lending stream and vanquis credit card with DCA at 50% F&F settlements... best one was 118118 loans which wanted over £5700 which we settled for £1441 as a F&F offer - didn't bother checking the CCA as it was only taken out 12 months ago so would have been enforceable, plus we had the money to get these gits off our back.

Now we are going to try and tackle some of the bigger loans - LLoyds first. This has now been sold to Robson Way DCA who are asking for 11k (from £14k ish) and advice on how to get the best settlement? Was thinking of going in with a stupidly low offer (say 10%) and trying to get it around the 35% mark as that's all we can realistically save over the next 4 months whilst juggling the rest - or would you wait for it to be sold onto another DCA?

Fingers crossed this time next year we will be debt free!

Frosty x

[Strepsi]

Brilliant! Can I ask how you went about getting the reductions...

You must be thrilled!

[Frosty873]

Hi Strepsi - I think a few factors have helped to be honest. A) waiting it out a while - I suppose if the DCA have been chasing you a while they are more likely to accept a significantly reduced amount (I have read somewhere some of these companies only pay 10p - 20p for every pound! They will still make a huge profit) b) I was quite honest about our circumstances (redundancy/reduction in income and looking at the possibility of bankruptcy- although this was an option for my husband we wanted to avoid it, as we can get out of debt quicker that the order would last) .

Hubby and I are really pleased but I think the next couple of ones we need to tackle are definitely the bigger ones. Wescot are looking after the Lloyds loan, which debt currently stands at 14k. They offered a small discount to about 11k but we had absolutely no chance of coming up with that amount - they offered this themselves, this wasn't us trying to negotiate. We sent a CCA request way back in August to Lloyds and they failed to comply because hubby typed a digital signature rather than a handwritten one... think we are going to send a CCA request again at the end of January to the DCA and see what they come back with. Its highly likely its enforceable but unless we check we wont know will we? Plus for us we need a few months to save up and try and make some sort of offer. Its just my personal opinion and I'm sure there are others who might disagree with this, but I would start off with a very low offer (say 10 - 20%) knowing that they might reject it and perhaps negotiate around the 30-40% angle. Just be aware though if you start offering ludicrously low offers then automatically raise your offer it this might go against you when trying to get the best settlement.

Will keep updating this diary when I can pass on any tips/learning

Frosty x