Help!! 45k debt mountain!

[dx100uk]

1st go open a parachute account

and get ALL income going into that A/C from whatever source.

 

i suggest post office or Co-op, someone NOT associated to ANY of you current creditors.

co-op do an online one you can apply for now.

 

next.

to date you have not missed payments and EVERYTHING is still with the original creditors?

 

if this is the case, then the quicker you get defaulted on every credit account the better.

 

ensure you keep paying the things that can threaten the roof over your head

Gas, electric, mortgage, CTAX.

 

the rest can all go whistle for now.

 

no no-one can threaten you with home sale not on consumer credit.

i also question you idea of turning unsecured debt into secured debt with an expanded mortgage or secured loan....bad move that one!

 

[dx100uk]

once you received an official default notice from a creditor and their debt is marked in the summary line defaulted date = XXXXX, which everyone can see....in 6yrs time, on the DN's 6th B'day, regardless to being paid or not or paying or not, the whole account is removed. this does not mean the debt is not due or is wiped.

 

the same goes for CCJ's, regardless to being paid or not or paying or not, the CCJ is removed. this does not mean the CCJ is unenforceable nor wiped.

 

the idea here is to get the bad stuff that is going to happen, happen as quickly as possible, that being a default notice being issued and your credit file being marked. this unusually involves stopping all payments on any consumer credit, .then the quicker your credit file is clear and poss remortage/etc etc becomes an option...with a clean credit file.

 

as this DN gets issued on each account, then you look toward entering them into your pro rata agreement. (letters are in the debt collection section of our library).

 

we don't typically recommend  completely ignoring debts until they are sold on, nor do we recommend nor actually see much success where people try to come to a lower F&F with a debt buyer unless missing enforceable paperwork plays a part.

 

most original creditors do not go for CCJ themselves as its bad publicity. they'd rather sell for 10p=£1 and reclaim the rest on their business insurance...hence how DCA's exist...if everyone stopped paying them overnight, their WHOLE industry would collapse.

 

not sure if i missed anything... 

[dx100uk]

[dx100uk]

 

for the minute dont worry about take out age 

[dx100uk]

spam ignore

[dx100uk]

open

 

[dx100uk]

wetcloths cant send a default notice, they dont by debts, only act for their stated client.

what have you actually received?

a default notice comes from the original creditor and will mention you have defaulted under the consumer credit act 1974 section 87.

an example is attached.

default notice.pdf

[dx100uk]

ignore wetcloths.

that is not a DN and you now knowwhat one looks like

get all your debts defaulted by section 87 letter FIRST.

NOSIA are simply notice a creditor must send if they are going to levy unlawful arrears fees.

 

[dx100uk]

scan the dn up.

dx

[dx100uk]

thats not a DN thats the cover letter

we need ALL the pages they sent you.

a DN MUST mention section 87/8 as i said before.

and be in the generally accepted correct format.

already showed you what one looked like earlier...

dx

On 08/07/2023 at 22:10, dx100uk said:

wetcloths cant send a default notice, they dont by debts, only act for their stated client.

what have you actually received?

a default notice comes from the original creditor and will mention you have defaulted under the consumer credit act 1974 section 87.

an example is attached.

default notice.pdf 402.9 kB · 3 downloads

 

wheres the rest of it

and please dont hide dates times figures£

 

dx

 

[dx100uk]

then that is not a notice of default

ignore.

dx

 

[dx100uk]

typically if a defaulted date appears on your credit file, then you should be issued with a default notice UNLESS it something nor covered by a credit agreement like mobile debt etc.

if its covered by the Consumer Credit Act 1974 then the original creditor must send a default notice giving you 14 days under section 87

wait for cabot to send you a letter of claim on both this and the OD.

2 hours ago, DebtFreeMO said:

Virgin Money Credit Card x2 - no default notices received, but debt has been sold to Intrum UK Finance/ Capquest, advice on next steps?

intrum are nothing to do with Capquest and are not part of the arrows group. who is the notice of assignment from..scan it  to PDF?

2 hours ago, DebtFreeMO said:

Sainsburys CC

if a debt has been sold you'd get a notice of assignment.... PDC dont buy debt and their letters say sainsbury is our client i bet

until you ever get a letter of claim on a debt you dont respond to anyone.

[dx100uk]

PDC are not part of sainsburys just a dca for hire. no dca's are owned by any major retail nor credit companies.

for those that have now been sold on 

sit on your hands till you (ever) get a letter of claim

as long as the OC had the correct address .

as for that letter 

do you not want to kill that barcode and its long number? 

you can read those with a phone camera and an app just like qrcode boxes

dx

 

[dx100uk]

you dont.... put up a new version i'll swap.

PAPLOC etc...Nope you comeback here for advice as i stated.

 

[dx100uk]

as i said earlier typically you'll get a forest through you door before you get a letter of claim, if that ever happens.

if you hit letter of claim and READ ALL THE THREAD you get an understanding upon how to respond to a PAPLOC

till then simply ignore them.

 

[dx100uk]

and try and get the moneyback too!

your HR dept should not be blindly stripping money from your wages when they dont know where it is going.

get the payments back from them, not your problem to chase down chaps, they are ones that didit.

ruddy cheek!!

dx