A Morbid Tale of Debt

[slick132]

Hi Two Jobs Fairbank,

 

I hope you keep in touch and let us know how you get on.

 

It will be good to hear the house is safe and the lesser debts are under control.

 

Slick:)

[Slartibartfast]

Excellent !!!

Congratulations double and again!!

[fairbank]

I shall certainly continue this thread.

 

Although I have 'come around' there is still a long way to go

 

I have to ensure that the house remains with us in it and then start the progression to have sensible repayments to creditors etc.

 

So watch this space, I haven't gone away yet - I will be around for a long time.

 

I hope many people will read my thread to date, it was not that long ago that it was total despair. I hope that it will help others as well. It's not been an easy road and will no doubt have lots of things to keep my mind occupied in the next few weeks and months.

[Hopeful1]

I shall certainly continue this thread.

 

Although I have 'come around' there is still a long way to go

 

I have to ensure that the house remains with us in it and then start the progression to have sensible repayments to creditors etc.

 

So watch this space, I haven't gone away yet - I will be around for a long time.

 

I hope many people will read my thread to date, it was not that long ago that it was total despair. I hope that it will help others as well. It's not been an easy road and will no doubt have lots of things to keep my mind occupied in the next few weeks and months.

 

As i posted last night FB, i was thinking about the tone with which this thread started. It is so good to witness a turn around. Obviously you still have lots to deal with, but at least you are now in a position to plan and barter.

 

Will look forward to all your updates.

 

Best wishes

[hellhasnofury]

Hello Fairbank,

 

Just caught up with your good news, I have a big smile on my face just for you:D

 

Now don't forget now that you are a man of means, how those creditor treated you, so when you are on your feet, so's to speak, you decide and dictate to them. Do as to others as they have done to you:p

[The GodMother]

year well done FB.

[fairbank]

Other party has accepted full liability for the recent car accident, so hopefully a apy out should soon be forthcoming.

 

Spoke with mortgage provider and secured loan company today and explained my change of circumstances. Their tone has now changed since employment is imminent.

 

Few other things to sort out but things starting to look better and heading towards some kind of sustainability for the future

 

Will keep all my new found CAG mates informed

 

Ciaow!

[Hopeful1]

Other party has accepted full liability for the recent car accident, so hopefully a apy out should soon be forthcoming.

 

Spoke with mortgage provider and secured loan company today and explained my change of circumstances. Their tone has now changed since employment is imminent.

 

Few other things to sort out but things starting to look better and heading towards some kind of sustainability for the future

 

Will keep all my new found CAG mates informed

 

Ciaow!

 

Good stuff Fairbank. It's amazing what a difference money makes to the attitude of others towards you.

 

I'm really pleased for you and can imagine you skip every now and then as you're walking along

[harvest]

Fairbank - just catching up with your thread and can't believe the change in circumstances in two weeks - I'm thrilled for you fella.

 

Sorry to hear about your car accident as well - but a payout on that might set you up quite nicely as you start your new job.

 

And good news on the consultancy - well done mate.

 

In a year's time you won't recognise yourself when you look back to the beginning of your thread and some of the posts where you were - understandably - in the depths of despair.

 

Well done fairbank !

 

P.S. for some reason my thread's been moved to debt advice issues rather than the general forum??

[fairbank]

Well its all hit the fan today

 

Mortgage company want to be paid by the end of the month (£874)

 

I have to find £1800 very soon or will end up in court in the next few weeks with Paragon

 

Company I was involved with as a director have asked me to resign and pay up £1900 that I owe them very soon

 

Council tax of £685 overdue

 

Rest of debts are small and can be paid off at £5 - £15 per month until back on my feet

 

Mortgage and secured loans at a serious stage - any body got any advice

 

I have filed for £9500 against Paragon for a missold PPI by the way but not sure if this will have any imact on the current situation.

 

I can start to repay money when (a) I get my first pay cheque at the end of March (b) I get a tax rebate © when consultancy money comes through.

 

All very serious stuuf now. Words of wisdom appreciated

[Hopeful1]

Well its all hit the fan today

 

Mortgage company want to be paid by the end of the month (£874)

 

I have to find £1800 very soon or will end up in court in the next few weeks with Paragon

 

Company I was involved with as a director have asked me to resign and pay up £1900 that I owe them very soon

 

Council tax of £685 overdue

 

Rest of debts are small and can be paid off at £5 - £15 per month until back on my feet

 

Mortgage and secured loans at a serious stage - any body got any advice

 

I have filed for £9500 against Paragon for a missold PPI by the way but not sure if this will have any imact on the current situation.

 

I can start to repay money when (a) I get my first pay cheque at the end of March (b) I get a tax rebate © when consultancy money comes through.

 

All very serious stuuf now. Words of wisdom appreciated

 

I haven't got any concrete solutions, but can i just through some questions / thoughts at you and then see what i or others can suggest:

 

Have you done a budget sheet to work at what you can afford now and you can do when you're paid?

 

Have you got guaranteed pay dates for any of the monies you are due?

 

This is probably asking the obvious, but have you spoken to any of the companies involved to negotiate?

 

Can you make any payments now? It would go in your favour to put a repayment plan in place and make a payment at the same time.

 

Fairbank, you must feel so frustrated. I suspect that if you can get through this bit, you'll be ok after that.

 

Will look out for your post

[fairbank]

Hopeful1

 

I am in the up/down stage. The delight of last week is wearing thin with the realisation of my situation. Perhaps I neglected the situation whilst busy on the job hunting front

 

I will start tonight to try and get a plan together and probably post for advice thereafter.

 

I have no problem in speaking with the creditors. I think I now just need time to make my comeback which could take about three months.

 

My injury claim for the car crash will net me about another £2k in a few months time and that is something to look towards

 

The key to the plan is (a) keep the house (b) clear the priority debts asap

 

The plan however is not yet formulated!

[Hopeful1]

Everything is so time consuming Fairbank, it's easy to lose sight of situations.

 

At the end of the day, there would be no light at the end of the tunnel if you hadn't found work.

 

When you've started to formulate your budget / plan, let us know. It'll be easier to get our heads together then when we have something to work on.

 

As you are aware, the mortgage, council tax and secured loan are the priority. The sooner you start to negotiate with them the better.

[slick132]

Hi Fairbank,

 

Re Paragon, you say you filed against them for £9.5K. Are you trying to reclaim from them at a pre-court stage or have you filed at court.

 

Either way, I believe you have the protection of the OFT Debt Collection Guidelines because Paragon should take into a/c any dispute you have. Check Link No.3 in my signature below re Sections 2.6(h), 2.8.(i) and 2.8.(k).

 

This may give you a little breathing space.

 

The mortgage is where you'll obviously focus, as the others can wait until your money starts to flow in again.

[fairbank]

Re Paragon. Its a third party claim but not directly with Paragon but Central capital who sold me the loan and PPi.

 

Its at the initial letter stage as far as I know but can check with the company doing it for me. NOT as far as court as yet, suspect LBA will follow next

[fairbank]

Oh and Slick 132

 

That is very useful information, thanks

[fairbank]

I haven't got any concrete solutions, but can i just through some questions / thoughts at you and then see what i or others can suggest:

 

Have you done a budget sheet to work at what you can afford now and you can do when you're paid? - will have soon, income will be around £2200 initially and will rise to about £3000 in three months. Anticipate all outgoings to be about £1800

 

Have you got guaranteed pay dates for any of the monies you are due? This is slightly tricky. Suspect that (a) Fist part of consultancy could be mid late March (value to start with £2100) (b) Another small consultancy same time frame £500 © tax Rebate of about £700 when I start work early March (d) Balnce of my Insurance Claim for the Car will be about £700 for creditors (e) Injury Compensation ~ £2000 no time frame

 

This is probably asking the obvious, but have you spoken to any of the companies involved to negotiate? - Spoken with them all they are expecting payment asap but I can always renegotiate with them. Paragon WILL take me to court if I don't pay them £1800 n NOW

 

Can you make any payments now? It would go in your favour to put a repayment plan in place and make a payment at the same time.- I can start at the end of the month

 

Fairbank, you must feel so frustrated. I suspect that if you can get through this bit, you'll be ok after that. - Certainly do - REALISATION has set in now

 

Will look out for your post

[Hopeful1]

I've just been scanning through your thread but had to give up! It's so long and i need to do some non-CAG jobs tonight

 

Did you ever send the SAR to Paragon? I just wondered if there's charges on there too?

 

If at the end of the month you can make a normal payment plus a little bit towards the arrears i would start with that. Tell them you anticipate that you should be able to increase the arrears payments at the end of the month, possibly pay them off (if relevant). Don't give them anything concrete just in case there's a problem.

 

In the past i've transferred £1 into accounts and written to say i've made a goodwill gesture and then given my payment proposals. I always think that in the worst case scenario, it shows i've tried!

[fairbank]

Thanks again

 

I need to do some serious thinking now on how I address the situation.

 

Will let you get on with the ironing!

[Hopeful1]

 

Will let you get on with the ironing!

 

Geez i hate domestic jobs, they're so boring

 

Also have to tidy up a mountain of paperwork :o

 

And catch up on a couple of bills - just for a change

 

Good luck with the budgeting / action planning - don't know which of us will have the most fun

[fairbank]

Thanks

[fairbank]

okay very important question

I have a PPI claim in against Central Capital for £9,858 taken out in December 2004.

According to CC they is no recourse for any consideration because the regulation came into effect in Jan 2005. Therefore no misselling took place.

They are quite adamant that they will not doing anything about this nor can FOS according to them.

Is this true? It seems strange that for a matter of days I am not entitled to a justifiable claim. Anybody else come across this before and how have they dealt with it?

[noomill060]

No, this isnt true.

 

There is no time limit as to how far back you can make a claim for mis selling.

 

(Mis selling is a polite way of saying you were defrauded)

[noomill060]

Simply use the FOS complaints form and make your mis-selling complaint.

[slick132]

Fairbank,

 

Have you a PPI thread in the PPI forum.

 

If not, copy and post this query there where you're more likely to have the right peeps reading and able to offer opinion.

 

I see Noomill's answered above now, but you should get this claim underway, either directly with the company concerned or with the FOS.

 

Then the OFT Debt Coll'n Guidelines will afford you better protection as the matter is in dispute.