Advice Needed

[champerington]

Hi,

 

I am a lone parent with two children, aged 4 and 3. I'm currently working and earning 35k (before tax).

 

I rent my house with a housing association and have my own car. I have no other assets.

 

As things stand I currently have debt of 17k.

 

I'm assuming an IVA is my best option but bankruptcy has been suggested to me. I realise I haven't given a lot of detail, but I would be greatly appreciative of any advice.

[dx100uk]

have you checked all your debt are legitimately being chased/paid?

 

and if they show on your cra file?

 

if you wish list them here

with whom you pay too

 

dx

[champerington]

have you checked all your debt are legitimately being chased/paid?

 

and if they show on your cra file?

 

if you wish list them here

with whom you pay too

 

dx

 

 

I have 10k loan outstanding with Santander. Another £700 from an overdraft with Santander and a £6k loan with Credit Union.

 

I'm contributing £20/wk to the credit union to keep face.

 

I haven't made any repayments to the £10k loan and had made some small token payments to the overdraft (£700)

[Bazooka Boo]

IVA is the very last thing you should be thinking about!

 

As DX has said, check your credit files, name the debts (loan/credit cards/overdraft/store cards etc etc?) and who is chasing you and for what.

 

There is a myriad of advice that can be given dependent on what the actual debt is and who it is too..

[champerington]

I have 10k loan outstanding with Santander. Another £700 from an overdraft with Santander and a £6k loan with Credit Union.

 

I'm contributing £20/wk to the credit union to keep face.

 

I haven't made any repayments to the £10k loan and had made some small token payments to the overdraft (£700)

 

For a year or more I never heard from Santander but then that was probably down to them taking over - I have now received a few letters from a debt recovery agency, same with overdraft.

[Bazooka Boo]

Overdraft can be put on the back burner for the time being, how much of it is the banks fees/charges? They should be reclaimed.

 

When did you take out the loan with satansbank? Pre or post 2007? And how?

 

Do you still bank with satansbank? If so then you will need to open another bank account with a different banking group.

 

When did you take out the loan with Credit Union?

Have they applied any fees or charges? What APR are they charging you?

[Bazooka Boo]

Who is the debt collection agency (DCA)

 

Keep a diary of events mark all their puerile missives with the date you received them on, keep EVERYTHING in writing, never ever speak to any of them over the phone, if they ring tell them that you don't deal with financial matters over the phone and to send you a letter, then hang up.

[champerington]

Overdraft can be put on the back burner for the time being, how much of it is the banks fees/charges? They should be reclaimed.

 

When did you take out the loan with satansbank? Pre or post 2007? And how?

 

Do you still bank with satansbank? If so then you will need to open another bank account with a different banking group.

 

When did you take out the loan with Credit Union?

Have they applied any fees or charges? What APR are they charging you?

 

More than half of overdraft is charges. I tried reclaiming them but it was rejected.

 

Cant recall whether loan was pre or post 07 however I did get settlement for PPI.

 

No I have another bank account - Ulster Bank

 

Loan with Credit Union was a year after loan with Santander, not sure on APR

[champerington]

Who is the debt collection agency (DCA)

 

Keep a diary of events mark all their puerile missives with the date you received them on, keep EVERYTHING in writing, never ever speak to any of them over the phone, if they ring tell them that you don't deal with financial matters over the phone and to send you a letter, then hang up.

 

Wescot Credit Services Ltd

[champerington]

Ok just checked my Credit File.

 

Current A/C OD with Santander £684 - A/C opened 2006 - Default date Feb 2011

 

Loan from Santander £9126 - Start Date March 09 - Default date July 2010.

 

The Credit Union loan doesn't show up on the report, does this mean defaulting on it will never affect my credit rating?

 

As stated above Wescot have sent me letters in relation to both amounts.

 

I'd be extremely grateful for some advice and guidance on how best to deal with these.

 

Thanks

[citizenB]

http://www.nationaldebtline.co.uk/england_wales/page.php?page=35_options_for_dealing_with_your_debts

 

or call National Debtline free on 0808 808 4000

• Monday – Friday 9am-9pm
  
• Saturday 9.30am-1pm
  

I have attached a National Debtline fact sheet above for you - you might want to have a word with them about your options.

 

When you obtained the refund of the PPI from your loan, did they restructure the repayments without the PPI premium ?

 

Are there any default/penalty charges on the loan - you can reclaim those.

 

I doubt you will be able to obtain any default charges on the Overdraft.

 

Do you know if the Credit Union has a Debt advisor you could speak to ?

[sequenci]

Hello there, how much is the car worth approximately?

 

When did you get your PPI refund, how much was it, did you reduce your liabilities with the payment - or did the firm simply reduce the balance of the loan?

[champerington]

]IVA is the very last thing you should be thinking about!

[/b]

As DX has said, check your credit files, name the debts (loan/credit cards/overdraft/store cards etc etc?) and who is chasing you and for what.

 

There is a myriad of advice that can be given dependent on what the actual debt is and who it is too..

 

Why?

[champerington]

When you obtained the refund of the PPI from your loan, did they restructure the repayments without the PPI premium ?

No I just got a refund. Should they have?

 

Are there any default/penalty charges on the loan - you can reclaim those.

Not sure, with this now in Wescots hands would Santander be able to provide me a statement breakdown?

 

Do you know if the Credit Union has a Debt advisor you could speak to ?

They wouldn't no. Its a local community credit Union (2 staff and board of directors)

[champerington]

=sequenci;4301712]Hello there, how much is the car worth approximately?

2k

 

When did you get your PPI refund, how much was it, did you reduce your liabilities with the payment - or did the firm simply reduce the balance of the loan?

It was around 1k. I simply put it towards living costs at the time.

[dx100uk]

have you all the car statements?

 

dx

[champerington]

have you all the car statements?

 

dx

 

I received the car as a gift from family.

[dx100uk]

as sri thought the car was with satans bank

 

have you all the satans bank statements then

 

dx

[champerington]

as sri thought the car was with satans bank

 

have you all the satans bank statements then

 

dx

 

No

[dx100uk]

might be useful to sar them then?

 

dx

[Bri76]

Needing some advice or help .got a car nearly 2years ago I took the car on the understanding that I was payin the finance on it after a year I got abit behind in bills and turned to logbook loans and took out a loan I kept paayin finance on car and loan rhen I asked for a full bill on car to see what was left to pay .I found out by myself that the last owner had a £25, 000 barclays on the car in a dispute with the last owner they took car back and sold it own and now im struggling to pay the logbook loan

[champerington]

might be useful to sar them then?

 

dx

 

Ok. Anyone got an address for Santander head office?

[dx100uk]

Needing some advice or help .got a car nearly 2years ago I took the car on the understanding that I was payin the finance on it after a year I got abit behind in bills and turned to logbook loans and took out a loan I kept paayin finance on car and loan rhen I asked for a full bill on car to see what was left to pay .I found out by myself that the last owner had a £25, 000 barclays on the car in a dispute with the last owner they took car back and sold it own and now im struggling to pay the logbook loan

 

can I suggest you start your own thread

 

see the video below please

 

dx

siteteam

[Bazooka Boo]

Ok. Anyone got an address for Santander head office?

 

The joys of google!

Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom.

 

https://www.santander.co.uk/csgs/Satellite?c=Page&cid=1210606980678&pagename=Abbeycom/Page/WC_ACOM_TemplateA2

[champerington]

The joys of google!

 

https://www.santander.co.uk/csgs/Satellite?c=Page&cid=1210606980678&pagename=Abbeycom/Page/WC_ACOM_TemplateA2

 

Thanks!

 

Unfortunately I don't have the account numbers. My credit file gives the last 4 digits of each, would this suffice for the letter?