The start of a debt free life

[Frosty873]

Hello all, just a little about me - my hubby and I have found ourselves in big debts altogether, and after browsing through this forum over the past few days (which has already turned out to be super helpful and supportive) we both made a decision yesterday to stop making payments in anticipation of defaulting on every single one of our accounts to hopefully stop all the interest from spiralling out of control. I appreciate this is really early on (as we haven't defaulted yet) but hopefully one day someone in the same place as us will find this dairy and it might help them out too.

I'm about to list 18 creditors (yep, 18....) and will update with all the correspondence we receive. I think we have already blocked a few phone numbers but look forward to adding more to the blocked directory

We also have no idea whether any of these would be unenforceable, although I doubt it as most was accrued within the last three years however we are going to use the template from this site to gain copy of all CCA's as well, so you never know...

Thanks in advance for all your help and support x

Red writing – correspondencereceived
Blue writing – what we sent/did
Greenwriting - Anything else

[Frosty873]

Re: The start of a debt free life

Tesco Loan - hubbys name

Date commenced - October 2015 (took out £17,500 over 60 months paying £425 per month)
Approx balance - £19,839.54
Date last paid - Last paid full payment in January 17, missed a payment in Feb and agreed to pay £495 for 6 months paid this once in March 2017 (this will now be the last payment)
Are you on arrangement or not paying -Not paying
Status (default/in arrears/up-to-date) -about to go to arrears
Account owner - Creditor

[Frosty873]

Re: The start of a debt free life

Lloyds Loan - hubbys name

Date commenced - August 2014 (took out £17,000 over 84 months paying £435)
Approx balance -£13,000
Date last paid - March 2017
Are you on arrangement or not paying - not paying anymore
Status (default/in arrears/up-to-date) -about to go into arrears
Account owner - lender

[Frosty873]

Re: The start of a debt free life

Lloyds credit card - hubbys name

Date commenced - no idea need to check but at least 8 years ago
Approx balance - 550
Date last paid - March 2017
Are you on arrangement or not paying - not paying anymore
Status - about to go in arrears
Account owner - lender

[Frosty873]

Re: The start of a debt free life

Zopa loan - hubbys

Date commenced - July 2016 (initially borrowed £10,000 paying £253 per month over 60 months - according to default notice it as £10,940 which I don't think I correct?)
Approx balance - £13,196.82 (dated 03.05.17)
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

04/05/17- email received from lender to say account hasbeen transferred to debt collection agency Find this a bit weird as we haven’t received adefault notice yet – is this standard practice?
03.05.17 – Notice of arrears received in post 0.05.17. Asking for OHto contact to arrange a suitable repayment plan, they want to do an I&Eplan. If we don’t hear from you will have to refer to an external collectionsagency who will continue to contact for the outstanding debt. No mention of an actual default notice yet though? Educatedguess so they can keep adding interest onto the problem?

[Frosty873]

Re: The start of a debt free life

Moneyway Loan - joint debt

Date commenced - August 2016 (initially borrowed £10,000 paying £313 per month for 60 months)
Approx balance - £16,380
Date last paid (approximate date you last made a payment: March 2017
Are you on arrangement or not paying - Not paying
Status - about to go into arrears
Account owner -lender

03.05.17 - letter received saying it would appear we haven’t paid our last payment (blahblah blah) and asking us for bank details again to set up another direct debit

[Frosty873]

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 "missedpayment- default notice" saying that the notice is being served inaccordance with the CCA and not asking for full repayment of the loan in fullbut if the missed payment of £213 is not paid within 20 days further action maybe taken blah blah blah.Surely thisnot the actual default for one missed payment?

[Frosty873]

Re: The start of a debt free life

Loan with 118118 money (mine)

Date commenced - December 2016 (initially took out £2,900 paying £274 per month over 24 months)
Approx balance - £5766
Date last paid - March 2017
Not paying
Status - about to go in arrears
Account owner - lender

April – lost track of how many emails I’ve received from118118 chasing up missed payment. Nothing sent via the post to date.
August - CCA request sent - is enforceable
October - chasing for payment (threatogram)
November - offered a substantial discount to clear debt, a one off payment of £1441 as a F&F settlement
End of November - made the £1441. Bye bye 118 118 debt!

[Frosty873]

Re: The start of a debt free life

Barclaycard credit card (hubbys)

Taken out - May 2016
Approx balance - £3500
Date last paid - March 2017
Not paying
Status - about to go in arrears
Account owner - lender

[Frosty873]

Re: The start of a debt free life

Barclaycard credit card (mine)

Taken out - not sure, think it was April 2014?
Approx balance - £750
Date last paid - March 2017
Not paying
Status - about to go in arrears
Account owner - lender

[Frosty873]

Re: The start of a debt free life

Capital one credit card (mine)

Taken out - September 2015
Approx balance - £1478
Date last paid - February 2017
Not paying
Status - about to go in arrears
Account owner - lender

[Frosty873]

Re: The start of a debt free life

Vanquis credit card (mine)

Taken out - May 2016
Approx balance - £1295
Date last paid - March 2017
Not paying
Status - about to go in arrears
Account owner -lender

April - threat of default letter received
June - Default received
September - letter to say debt has been sold over to Robson Way
September - chase letters received from Robson
October - discount letter (no amount stated)
November - 50% discount offer
December - settled debt as F&F settlement £647.60 - bye bye Vanquis debt

[Frosty873]

Re: The start of a debt free life

Payday loan - Lending Stream (mine)

Taken out - February 2017
Approx balance - £1997
Date last paid - March 2017
Not paying
Status - about to go in arrears
Account owner- lender

Received an email 1^st April stating that I wasnow in default of my agreement (clever word play there) but doesn’t appear tohave issued a default notice.
April – lost track of how many emails I have received chasingup late/missed payments. Nothing sent in post to date.
May - letter threatening default
June - default
July - Passed over to DCA - CRS
September - emails received offering 30% discount
October - I contacted CRS explaining circumstances and that I could only pay a one off payment of £1000 to clear both loans I had with lending stream. Also said I was considering bankruptcy... offer swiftly accepted first debt paid off!

[Frosty873]

Re: The start of a debt free life

Payday loan - Quickquid (mine)

Taken out - October 2016
Approx balance - £1600
Date last paid - February 2017
Not paying
Status - arrangement to pay (but just missed the third of 12 scheduled payments)
Owner - lender

Letter received 06.05.17dated for end of April. Default Notice issued demanding full sum of £1519.26 tobe paid by 19^th May.
Haven’t contacted Quickquid – will send a CCArequest along with a request for a breakdown of what was initially borrowed andwhat I had paid back to date, as final figure doesn’t look right to me (but genuinelycan’t remember what I borrowed)

[Frosty873]

Re: The start of a debt free life

Simply be - catalogue/store account (mine, obviously)

Taken out - August 2015
Approx balance £820
Date last paid - February 2017
Not paying
Status - missed first payment
Owner - lender