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  • #16
    I have already done the income/expenditure which made me realise I had nothing left. I was literally paying the debts then adding more on. Maxing out each time I paid some off just for food & rent. I realised I just couldn't go on like that.

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    • #17
      Originally posted by Tomfool View Post
      I have already done the income/expenditure which made me realise I had nothing left. I was literally paying the debts then adding more on. Maxing out each time I paid some off just for food & rent. I realised I just couldn't go on like that.
      The Idea of the Income and Expenditure is so that you can control. What I did before coming to AAD was put the SAME letter before each of my debtors!
      So if one jumped and shouted I would say well the rest agreed!

      I would always include an inflationary factor (sic Gas and Elex price increases) if the reality meant offering to pay pennies so be it.

      Maintain that Income and Expenditure (for your own benefit) and Control
      Plus that separate new Bank Account is important

      The penalty for defaulted debts is a trashed Credit Rating which lasts 6 years. Your goal will be Statute Bar (6 years without admission of the debt).
      At the moment you and many others are it that 30 day breather place!

      I would do nothing and wait and see what you are next sent!
      Then come back here!

      Welcome to AAD

      Comment


      • #18
        Hello and welcome to the forum

        You have had a lot to deal with of recent and you have landed in a good place here

        As you have said yourself, and others have said, I think it is very wise given the circumstances to move your day to day banking/Wages/Benefits etc to a bank that you have no connection with

        That way if things get worse or you stop payments etc there can be no offsetting where monies can be taken from your accounts without you saying. It is really important that you protect yourself with this and I would make this a priority given your circumstances. You may not need your driving licence etc if you open the account online - Some places just do online checks

        There are a whole host of possible ways to get your situation in order, So dont go rushing into anything, and certainly not Bancruptcy

        I am not saying Bancruptcy is for you, Not without looking at the situation, But there are some banks that are more Bancruptcy friendly than others. If you did go down that route, depending on the bank you move to, They may close your account and you have to move again etc

        I would certainly advise you to look into this and post up if you need any more help

        Lets get you back in control of this and get you feeling better about the whole situation
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #19
          Has anyone any suggestions of banks I can try? Only just moved into new house so I'm stuck for proof of address & don't really want to show a bank statement

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          • #20
            Depending on where you live
            Metro - branches in London as well as Birmingham/Solihull and elsewhere
            Starling
            Monzo

            Both the above are online and mobile app banks only, I found them very easy to open.

            I believe that some banks will let you open basic bank accounts once you have gone BR- Barclays spring to mind even if they are a creditor.

            Comment


            • #21
              Originally posted by Tomfool View Post
              Has anyone any suggestions of banks I can try?

              Yes

              Check out this forum's information on credit impaired bank accounts etc, although it's not been updated recently so some of the links may not connect but it should give you an idea, and hope, on how you can manage your financial future >

              Money Matters https://all-about-debt.co.uk/moneymatters

              Di
              I don't give advice, I share wisdom. Whenever the chips are down there's always a Plan B

              I'm a fully qualified mother which is the hardest exam I've ever sat. I have other more formal qualifications which are less important


              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment


              • #22
                Originally posted by Tomfool View Post
                Has anyone any suggestions of banks I can try? Only just moved into new house so I'm stuck for proof of address & don't really want to show a bank statement

                You'd need to check that none of your creditors are affiliated with them , but we opened a Co Op Basic bank account when the s*%$ hit our fan. We had so many debts spread across different lenders, we couldn't go to any of the bigger named high street banks. But Co op were really good, there was no judgement as to why we wanted the account, and despite having numerous defaults or late payment markers at the time, we were up and running with the basic account in no time. Wages were swapped immediately to this new account, as were truly essential bills (ie. gas, electric etc - not a single creditor got set up on there initially as they were non-essential.

                https://www.co-operativebank.co.uk/c...nts/cashminder

                Comment


                • #23
                  So barclaycard & virgin money have not replied to my letter at all. Lloyds however have stopped everything till August. Should I now send a payment plan? Nominal £10 a month offer on these see if they agree for a while?

                  Comment


                  • #24
                    Originally posted by Tomfool View Post
                    So barclaycard & virgin money have not replied to my letter at all. Lloyds however have stopped everything till August. Should I now send a payment plan? Nominal £10 a month offer on these see if they agree for a while?
                    hold fire why??? have you been advised to on here??? what has lloyds sent you?
                    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                    Comment


                    • #25
                      Originally posted by Tomfool View Post
                      barclaycard & virgin money have not replied to my letter at all. Lloyds however have stopped everything till August. Should I now send a payment plan? Nominal £10 a month offer on these see if they agree for a while?

                      I've looked back at your thread and can see that all of your debts have been Defaulted so they shouldn't be adding interest etc. making matters worse.

                      You've sent each one a letter asking for time to deal with things, and as a result some/most have given you 30 days breathing space, so I see no reason for you to send a payment plan yet depending on how this situation evolves.

                      Some of your accounts were opened in recent times so the possibility of them being enenforceable due to no compliant credit agreement is uncertain.

                      However, you have two Lloyds credit cards from 2007 and 2011 so now might be a good time to send a s77-79 CCA Request to see where you stand with those ones first.

                      Di
                      I don't give advice, I share wisdom. Whenever the chips are down there's always a Plan B

                      I'm a fully qualified mother which is the hardest exam I've ever sat. I have other more formal qualifications which are less important


                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                      Comment


                      • #26
                        Lloyds have just agreed to some time to deal with it, not adding interest & charges. I will send cca request although I think very doubtful. Overdraft will be dealt with soon as new bank account for wages & I will leave a small amount going in to deal with that. Hopefully they will agree.

                        Comment


                        • #27
                          Originally posted by Tomfool View Post
                          Lloyds have just agreed to some time to deal with it, not adding interest & charges. I will send cca request although I think very doubtful. Overdraft will be dealt with soon as new bank account for wages & I will leave a small amount going in to deal with that. Hopefully they will agree.
                          HELLOOOO, you don't tell Lloyds what you are doing, just get the new account open, move everything over that needs paying as in essential item.
                          Rent, Council tax, water, gs electric, get them sorted first then we can start on the card's loan's and overdrafts.
                          1 st sort out what you have left after payin the important items, the rest can wait.
                          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                          Comment


                          • #28
                            Thank you I will

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