New User asking for some help :)

[Extankman]

Hi all,

I have been recommended to this site via Di and she has asked me to throw a post up with all my historical debt.

Bit of background on myself and how I ended up here -

Basically I transitioned out of the military around Dec 2013 and it took me a good while to find my feet and get in to employment. When I got my first job I'd had to take a salary cut of circa 50%, which wasn't a shock and thought I was well prepared for. What i wasn't prepared for, with a growing new family, was costs for living outside of a military bubble such as childcare, council tax, Gas, Elec, water etc etc. Anyway the family expanded again in 2014 and before I knew it we were robbing Peter to pay Paul who owed money to Michael who we'd also lent money off as well as any other short term payday lender who would give us top ups so that we could keep the myriad of payday lenders rolling over and continuing to borrow. I ended up in a paid for DMP with a company to tidy it up a bit and free us of the burden of letters etc.

Fast forward to 2016 and I ended up getting made redundant and couldn't afford my DMP any more. I spoke to them, who in turn spoke to my creditors and it took me about 3 months to find new work. Once settled I thought i'd get a consolidation loan and clear the debts from previous in to one manageable payment, thinking that it would sort my credit file out (Naive? yes) anyway turns out most of them had no intention of helping me out by accepting a reduced settlement fee. So back to the DMP payments as well as now having to pay out for this guarantor loan.....silly i know.

16 months later, the company I was working for collapsed in dramatic headline fashion and yet again I was out of work, this time though i really struggled to find work as 20,000 employees of a company all started seeking new employment. Took me even longer to find new employment and by this point the loan company had got a CCJ against me as I hadn't/couldn't pay and the companies on my DMP had waited too long also so the letters and threats had started again. Then my mum, who had been my guarantor, died and that was just the moment when i thought, ok, enough is enough. So in January 2019, new job all secured and back working again I stumbled across Stepchange, brill, i thought and that was that.

Anyway sometime in 2019 and I was still getting letters from a debt company who had sought a CCJ against me and I was pointed in the direction of the wonderful person that is Di needless to say some things got sorted out. Earlier in 2020 and I am getting letters from another company and during one of the conversations Di tells me all about StepC and so here we are today.

And so here goes;

• Type of account - Bank Account OD with Halifax
• Date commenced - 28/05/2011
• Approx balance - £684
• Date last paid - UNK
• Are you on arrangement or not paying - Not paying as far as I can see from Equifax and stepchange although the Hoist in Stepchange has a diff ref number so could be included if so it was paid last on 01/07/2020
• Status (default/in arrears/up-to-date) - Default since 15/05/2015 - was possibly on previous DMP
• Account owner - Hoist Finance Uk Holdings 3 Limited - from equifax

• Type of account - Bank account - Lloyds Bank OD
• Date commenced - 08/01/2015
• Approx balance - £69
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Default since 23/03/2016
• Account owner - Cabot Credit Management Group Ltd - from equifax

• Type of account - Credit Card from Vanquis
• Date commenced - 19/06/2014
• Approx balance - £921
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Default since 30/04/15
• Account owner - Lowell Portfolio 1 Ltd - from equifax

• Type of account - Credit Card with MBNA
• Date commenced - 24/03/2014
• Approx balance - £623
• Date last paid - UNK
• Are you on arrangement or not paying - Not paying
• Status (default/in arrears/up-to-date) - Default since 31/07/15
• Account owner - Hoist Finance Uk Holdings 2 Limited - from equifax

• Type of account - Safety Net Credit
• Date commenced - 04/09/2015
• Approx balance - £164
• Date last paid - 01/07/20
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Default since 31/01/2018 but was in previous DMP since Jan 2016
• Account owner - Indigo Michael Ltd - from equifax

• Type of account - loan from Mr Lender and Swift Sterling pre 2015 combined
• Date commenced - UNK
• Approx balance - £858
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Being paid via stepchange. I think both accounts were merged in to one. Not on credit file. Have electronic CCA for Mr Lender but nothing from Swift.
• Account owner - BPO Collections

• Type of account - Credit Card
• Date commenced - 24/03/2014
• Approx balance - £253
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchance DMP
• Status (default/in arrears/up-to-date) - Default since 31/07/15
• Account owner - Capital One

• Type of account - Payday lender
• Date commenced - 03/04/2015
• Approx balance - £188
• Date last paid - UNK as not being collected on
• Are you on arrangement or not paying - Not being pursued after correspondence with Wonga
• Status (default/in arrears/up-to-date) - Default since - 27/08/2015
• Account owner - Wdfc Uk Limited T/a Wonga.com

• Type of account - Credit Card - AQUA
• Date commenced - UNK
• Approx balance - £668
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - up to date via Stepchange
• Account owner - Robinson Way

• Type of account - Energy
• Date commenced - Oct 2018
• Approx balance - £596
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - up to date via Stepchange
• Account owner - EON

I know I might have missed some that I only have paper copies of in storage but if they're not sending me up to date laters at this stage I can only assume they've either gone away or are not being pursued. I should add that I currently pay stepchange £100 a month and I am due to be debt free by January 2024 and the figure on Stepchange is less than all the debts I can gather from Equifax by about £1200.

Thanks for any help and guidance from all.

Extankman.

[Joanna Connolly Solicitors]

Hi all,

I have been recommended to this site via Di and she has asked me to throw a post up with all my historical debt.

. . . . So in January 2019, new job all secured and back working again I stumbled across Stepchange, brill, i thought and that was that.

Anyway sometime in 2019 and I was still getting letters from a debt company who had sought a CCJ against me and I was pointed in the direction of the wonderful person that is Di needless to say some things got sorted out. Earlier in 2020 and I am getting letters from another company and during one of the conversations Di tells me all about StepC and so here we are today.

Thanks for the compliment - always happy to help

I'll take a peek at each of these debts and add my comments.

Well done on getting started on your journey.

Di

[The Tech Clerk]

Hello & welcome to the site, back in 1969 I left Army and spent looking for a job in two foot snow last day looking I managed to get a Travelling salesman ( Tallyman's) job, I also partner was imminent due a baby of ours ( they had 3 children) by her old marriage, what a tough time as you state changing military to civilian life/. yes and the old not enough money coming in I was even taxed on her ex husband child care order ( it always went back to court and got written off ) but tax man refused to reimburse me any tax even a court order with the write off given them, I ended trying to work extras different jobs on top of normal including helping scrap man dig for copper wire etc. no credit cards in those days! anyway you have made a good start above and the road a head might get bumpy but you are in the right place! Keep diaries updated!
!The Journey Begins!

[cymruambyth]

Hi and welcome to AAD. Hopefully we will be able to help. Getting everything written down is scary but it is the first step to getting control. As Di has no doubt advised you, read around the site and ask any questions that you may have as knowledge is power.

Good luck

[Joanna Connolly Solicitors]

• Type of account - UNK
• Date commenced - 28/05/2011
• Approx balance - £684
• Date last paid - UNK
• Are you on arrangement or not paying - Not paying as far as I can see from Equifax and stepchange although the Hoist in Stepchange has a diff ref number so could be included if so it was paid last on 01/07/2020
• Status (default/in arrears/up-to-date) - Default since 15/05/2015 - was possibly on previous DMP
• Account owner - Hoist Finance Uk Holdings 3 Limited - from equifax

• Type of account - UNK
• Date commenced - 08/01/2015
• Approx balance - £69
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Default since 23/03/2016
• Account owner - Cabot Credit Management Group Ltd - from equifax

• Type of account - Credit Card
• Date commenced - 19/06/2014
• Approx balance - £921
• Date last paid - 01/07/2020
• Are you on arrangement or not paying - Stepchange DMP
• Status (default/in arrears/up-to-date) - Default since 30/04/15
• Account owner - Lowell Portfolio 1 Ltd - from equifax

• Type of account - Credit Card
• Date commenced - 24/03/2014
• Approx balance - £623
• Date last paid - UNK
• Are you on arrangement or not paying - Not paying
• Status (default/in arrears/up-to-date) - Default since 31/07/15
• Account owner - Hoist Finance Uk Holdings 2 Limited - from equifax

• Type of account - Credit Card
• Date commenced - 24/03/2014
• Approx balance - £623
• Date last paid - UNK
• Are you on arrangement or not paying - Not paying
• Status (default/in arrears/up-to-date) - Default since 31/07/15
• Account owner - Hoist Finance Uk Holdings 2 Limited - from equifax

I can see that there are five debts which have been assigned to debt purchasers. Do you know who the original creditors were? If so just edit your first post to add the information.

Maybe a SAR to StepChange will help to fill in the blanks?

I can also see that some of the debts are still with PDL lenders so it may make sense to raise 'unaffordability' complaints and aim for a refund on each of them. Debt Camel has information and template letters on how to do this here > https://debtcamel.co.uk/payday-loan-refunds/

(Shall I assume UNK stands for 'unknown?)

Di

[Extankman]

Hi Di,

Thanks for going over this.

I have added some more detail that was readily available after going through my paperwork (a lot).

I have drafted a SAR for Hoist ready to send and i will also send one to Stepchange.

The Hoist debts now look like old bank account overdrafts that accumulated charges but I am sure I have previous from the 2 banks telling me they wouldn't be pursued, whether that is because they sold the debt on I don't know, nor do I seem to have the correspondence any more

The BPO debt looks like 2 debts combined. One from Mr Lender that I have an electronic CCA from and one from Swift Sterling (pre 2015) I am guessing that would have been statute barred had it not been combined in to one BPO payment via Stepchange?

Quite a lot of stuff in red on my credit file is due to drop off over the next 12 months, so my guess is, if I am not being chased for it now, once it has dropped off it may also fall in to the statute barred category?

Thinking ahead slightly, I am due to come in to some money from my late fathers estate later in the year. For those debts not with collection agencies, i.e. Capital One, would it be worth approaching these directly to settle rather than maintaining the DMP with Stepchange? I am not entirely comfortable knowing having Stepchange do the settlements, they will gain from it.

Thanks again for the advice all

Regards

ETM

[Extankman]

I also have a question about this one. After reading up on when things drop off your credit file I read it is 6 years from the date of default or 6 years from the date of settlement. What has happened here is Halifax have settled the account in January this year so will this drop off 6 years from the default date or the settled date? My guess is they've been a bit sneaky here so it would prolong its visibility?

[Joanna Connolly Solicitors]

Hi Di,

I have drafted a SAR for Hoist ready to send and i will also send one to Stepchange.

. . . Quite a lot of stuff in red on my credit file is due to drop off over the next 12 months, so my guess is, if I am not being chased for it now, once it has dropped off it may also fall in to the statute barred category?

I’m afraid these debts will not become Statute Barred for at least another six years because you have been paying them via StepChange. They will fall off your credit file six years after the Default was registered which is different matter albeit a positive step.

I wouldn’t send a SAR to Hoist, just one to StepChange if you decide to stop using them and self manage your DMP once you have established which debts are unenforceable.

Di

[Never-In-Doubt]

I also have a question about this one. After reading up on when things drop off your credit file I read it is 6 years from the date of default or 6 years from the date of settlement. What has happened here is Halifax have settled the account in January this year so will this drop off 6 years from the default date or the settled date? My guess is they've been a bit sneaky here so it would prolong its visibility?

This will be gone on June 21 credit file. The default date is set - May 2015 so by June 2021 this entry won't be visible.

The settled status won't affect it. A default supersedes all other entries so in May 2021 the entry will be removed and will show as removed on your June report.

If not let me know and we'll help you get it removed.

[Extankman]

Original post reviewed and new information added to creditors list. Some info removed as it was duplicate information

[Extankman]

This will be gone on June 21 credit file. The default date is set - May 2015 so by June 2021 this entry won't be visible.

The settled status won't affect it. A default supersedes all other entries so in May 2021 the entry will be removed and will show as removed on your June report.

If not let me know and we'll help you get it removed.

Awesome news. Thank you very much.

[Never-In-Doubt]

You'll find that once a default is +3 years old, it won't really go that much against you to certain lenders as a few only go back 3 years; like Barclays, NatWest etc

You'll also likely get approved base credit such as Tesco CC, NewDay based cards etc (Aqua / Marbles / Fluid) so an 'older' default won't do too much damage. It allows you to build your credit file ready for old defaults going.

I had 6+ defaults and got 12 bank accounts, £10k overdraft limits and 5 or 6 credit cards so if used responsibly a few old defaults won't cause too much damage.

[Extankman]

You'll find that once a default is +3 years old, it won't really go that much against you to certain lenders as a few only go back 3 years; like Barclays, NatWest etc

You'll also likely get approved base credit such as Tesco CC, NewDay based cards etc (Aqua / Marbles / Fluid) so an 'older' default won't do too much damage. It allows you to build your credit file ready for old defaults going.

I think my biggest flaw at the moment is that I have a lot of payday lenders on my credit file, including settled from 2014-2016. I am guessing this and the recent 2018 CCJ (also settled 2018) are my biggest negative factors. I did get a new CCJ from a parking company, but this has been paid within the calendar month and is due to be removed. I can't even get a mobile phone contract at the moment.....not that I need one as PAYG suits me fine.

I have an Aqua card and have done now for about 9 months, I have been trying to balance transfer it so I can get 0% for 6/12/18 months whichever but I can't even get an overdraft from my bank i've been with 5 years, let alone a credit card I'm just trying to add some positive credit management evidence to my file so that I can look to house buy end of 2021 (ish)

I am hoping that once the bulk of these drop off by april/march 2021 my credit score will dramatically improve

[Joanna Connolly Solicitors]

I did get a new CCJ from a parking company, but this has been paid within the calendar month and is due to be removed.

I'm pleased to see you finally managed to sort that one since it wasn't worth the hassle and expense of going for a set-aside.

Make sure the parking firm provide proof of your payment which you can send to the court.

Then check your credit file in a month's time to be certain the CCJ isn't there.

Di

[Extankman]

I'm pleased to see you finally managed to sort that one since it wasn't worth the hassle and expense of going for a set-aside.

Make sure the parking firm provide proof of your payment which you can send to the court.

Then check your credit file in a month's time to be certain the CCJ isn't there.

Di

It wasn't without its challenges Di I can tell you that much. Thank god for companies house beta and linkedin That's all I am going to say about that one.