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Worried about Defaulted debt
Hi,
My first time posting on here, I have read an awful lot of information and as per a lot if people realy wish id found this sooner, as would have saved a lot of sleepless nights and worry and knowing tjat your not alone either.
I have 10 unsecured debts that have been defaulted since October November December 2021 overdraft, credit cards and personal loans.
I did have a very good credit score but coming out of Covid with reduced wages everything caught up and kept my priority payments up to date and the unsecured with swirling interest rates fell. I remortgaged my house albeit not much out of it, again a silly decision and listened to a not very good loan company and was foolish on my part as didn't pay much of anything off and find myself actually in a worse financial place than I started.
Currently i have the following debts
overdraft 5.5k defaulted October 2021 not sure if this has been sold on to a debt collection agency as states on credit report that Nationwide still own it. Possibly zinc group
overdraft 214 pounds defaulted November 2021
link financial 10.4k credit card defaulted November 2021
Credit card 956 pounds defaulted June 2023 think its now with the zinc group
Credit card 4.6k currently shows Nationwide but again not sure if its sold on
Arrow global 10.7k defaulted October 2021
Tesco 18.7k loan defaulted October 2021 not sure who owns it
Lowell 1.6k loan defaulted November 2021
Lowell 9k loan defaulted October 2021
Lowell 650 pounds loan defaulted December 2021
I have kind of buried my head a bit with these debts a lot going on personally as we all have but in a place where I need to work out what's best.
Im currently in a trial period of a new job which hopefully will be permanent in summer 2024 but cant comit to anything until that is a permanent contract.
I have read through a lot of posts on here and have come across different strategies dealing with debt companies and has now, one, got me feeling a little less worried as I've been massively concerned about going to court and two, knowing I'm really not alone and there is hope to resolve.
I have responded to lowell, zinc with an email saying i was not in the best place mentaly which was true, dealing with my terminally ill father and did not know what to do, I said I was seeking help from stepchange which I went to online to seek advice but the outcome is confusing with IVA s and debt management plans which I have read into but don't know what's best. This was in 2022 as I panicked with the letters.
I have kind of put things on the back burner ignoring the calls and texts from lowell and zinc and the letters in fairness again from the 2 mentioned but don't seem to hear anything from the larger debts tesco Arrow and link. I have not had any letters with a court summons but that is my huge worry at the moment. A few letters from lowell recently saying they may return the debt to the original creditor or pass onto the legal team, but then the next letter comes in saying that if I don't get in touch they will continue with letters and phone calls.
After reading a lot of threads on here, it seems people are playing a waiting game, which to an extent i am but im concerned of going to court, especially after communicating with the debt companies in the past. Although most of my debts are now defaulted over 2 years, id have thought if court was an option id have been summoned?
Sincere apologies for the long post, I'm just needing a bit of guidance and the likelihood of legal proceedings. Or is it a case of biting the bullet going into an iva or dmp which again im not entirely sure of the long term effects of this.
Thank you for reading and thank you in advance for any help.
My first time posting on here, I have read an awful lot of information and as per a lot if people realy wish id found this sooner, as would have saved a lot of sleepless nights and worry and knowing tjat your not alone either.
I have 10 unsecured debts that have been defaulted since October November December 2021 overdraft, credit cards and personal loans.
I did have a very good credit score but coming out of Covid with reduced wages everything caught up and kept my priority payments up to date and the unsecured with swirling interest rates fell. I remortgaged my house albeit not much out of it, again a silly decision and listened to a not very good loan company and was foolish on my part as didn't pay much of anything off and find myself actually in a worse financial place than I started.
Currently i have the following debts
overdraft 5.5k defaulted October 2021 not sure if this has been sold on to a debt collection agency as states on credit report that Nationwide still own it. Possibly zinc group
overdraft 214 pounds defaulted November 2021
link financial 10.4k credit card defaulted November 2021
Credit card 956 pounds defaulted June 2023 think its now with the zinc group
Credit card 4.6k currently shows Nationwide but again not sure if its sold on
Arrow global 10.7k defaulted October 2021
Tesco 18.7k loan defaulted October 2021 not sure who owns it
Lowell 1.6k loan defaulted November 2021
Lowell 9k loan defaulted October 2021
Lowell 650 pounds loan defaulted December 2021
I have kind of buried my head a bit with these debts a lot going on personally as we all have but in a place where I need to work out what's best.
Im currently in a trial period of a new job which hopefully will be permanent in summer 2024 but cant comit to anything until that is a permanent contract.
I have read through a lot of posts on here and have come across different strategies dealing with debt companies and has now, one, got me feeling a little less worried as I've been massively concerned about going to court and two, knowing I'm really not alone and there is hope to resolve.
I have responded to lowell, zinc with an email saying i was not in the best place mentaly which was true, dealing with my terminally ill father and did not know what to do, I said I was seeking help from stepchange which I went to online to seek advice but the outcome is confusing with IVA s and debt management plans which I have read into but don't know what's best. This was in 2022 as I panicked with the letters.
I have kind of put things on the back burner ignoring the calls and texts from lowell and zinc and the letters in fairness again from the 2 mentioned but don't seem to hear anything from the larger debts tesco Arrow and link. I have not had any letters with a court summons but that is my huge worry at the moment. A few letters from lowell recently saying they may return the debt to the original creditor or pass onto the legal team, but then the next letter comes in saying that if I don't get in touch they will continue with letters and phone calls.
After reading a lot of threads on here, it seems people are playing a waiting game, which to an extent i am but im concerned of going to court, especially after communicating with the debt companies in the past. Although most of my debts are now defaulted over 2 years, id have thought if court was an option id have been summoned?
Sincere apologies for the long post, I'm just needing a bit of guidance and the likelihood of legal proceedings. Or is it a case of biting the bullet going into an iva or dmp which again im not entirely sure of the long term effects of this.
Thank you for reading and thank you in advance for any help.
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