is this a good place to start

[John_DebtFree]

I have a lot of debt, all of it is defaulted and I have had my head in the sand for ages and ages. I have literally made no payments for almost 48 months and other than sign up with a company who promised to help me with ppi and reducing debt, I have done nothing and I know I am an idiot - no excuses.

 

 

I have negative equity in my house but have kept my mortgage payments up to date, as I am self employed my income is up and down, last month really good, this month not so good.

 

 

I have looked at my debts online and listed it below, a credit card and a loan were taken out in 2008, the rest are older. Most debt is now owned by arrow global. I think there are some ppi claims and lot of the totals are charges. The 1500 credit card was only 600, the rest is interest and charges!

 

 

credit card 9000

credit card 1000

credit card 1500

credit card 7500

personal loan 12000

personal loan 3500

Bank overdraft 1800

 

Am I right in thinking that its not too late and something can be done? I was thinking of writing to them all asking if I can make token payments and trying to reduce the totals down?

 

 

 

 

Sorry if this question is basic, but I read a lot on here and Im not sure if some of the older advice on here is still valid as thing change?

[fkofilee]

Hi John

 

Welcome to CAG...

 

Who is each debt with and who was the OC?

Which of these show on your credit file?

 

Why not sign up to Noddle... Free but relies on Callcredits data.

[John_DebtFree]

Hello fk, thank you for replying.

 

 

The credit cards were with NatWest,

Egg,

Captial One and

MBNA.

 

The overdraft was also Natwest and

 

loans were

Sainsbury and

Egg.

 

The Capital One and Sainsbury were both started after 2008.

 

At the other end of the scale,

 

the Natwest loan and card go back to my youth in 2005.

 

In hindsight I have taken on credit to clear other credit without learning my lesson.

 

I did have a company who were dealing with ppi and also fighting some of the 'improperly executed' agreements

but they just disappeared and probably did more harm than good.

 

In the medium/long term, I would love to clear my debts and move house but this seems a long way off right now!

[fkofilee]

OF course John, Its a long road to repairing your profile etc

 

Well first off, you need to check the legality of these debts...

I would suggest firing off £1 Postal order or cheque per account to each DCA / OC that you have services with. (With a letter asking them to supply a copy of the Consumer Credit Agreement, Its your right by LAW to see it)

 

You can do this yourself... If they dont have a CCA then the debt will still exist but trying to get in enforced in court would be very difficult.

[renegadeimp]

Hold up. before you go sending a CCA, which of these companies are chasing you? Can you give dates on these debts? Such as dates of default, last payment and written acknolwedgement by you. Can you also tell us which DCA's are actually chasing you, and which are dormant.

[fkofilee]

Imp is right... Something that I forgot to mention was about Statue Barred dates etc...

More on that later but go along with Imp on this one, hes pretty good with these things.

[dx100uk]

CRa file first

 

if your debts have a defaults date against them

 

then it wont matter what you do

a mortgage will be out of the door till the defaults drop off

[6th birthday]

 

dx

[John_DebtFree]

Thank you for the replies, vey much appreciated gents.

 

 

The last payment on all accounts was April 2010,

 

I read about statue barred and would just like to clear my name one way or the other

(sorry if that sounds bad but if I had the money I would most certainly pay).

 

 

Capital One are chasing via Bryan Carter and I have court date in the spring.

 

The rest of the debt is with NatWest and Arrow Global,

strangley none of these are chasing and a seem to have me down as 'gone away' on my credit file.

 

Does this mean I send only £1 to Capital one at this time?

[dx100uk]

as you have an impending court case?

 

you need to concentrate on that one

 

can you start a new thread for it please

in the financial legal issues forum

off the main forum tab up the top left.

 

the rest you need poss CCA/SAR.

but its the default dates you need to look at

 

no matter WHAT you do, i'e pay anything]

 

the defaulted date is the important bit

a debt with a default date will remain for 6yrs ,...then the whole account vanishes.

[renegadeimp]

It would help if you included all this info in the first post, instead of drip feeding it randomly through the thread

[fkofilee]

Agree with Imp :-P

It's a good idea to now separate them out

[John_DebtFree]

Hello, thank you for the replies and I will start a new thread with more detailed information.