Your views and questions.

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By margaretc31
#249433 somebody please help me
my husband and i are in about £60,000 in debt. we own our house jointly with my parents but they are not on our mortgage. the house is worth about £110,000 and our mortgage is for 50,000. we are not in arrears at all with our morgage but we do have an unsecured loan with the same bank. most of our debts are in joint names. we havnt paid them in about 3/4 months and the letters are getting more threatening. my husband earns £255 a week and i get £150 in benefits a week. ive looked into a dmp but its going to take about 20yrs to pay it as we have only about £250 a month extra. ive asked my parents to buy us out but they have said no. i am unable to work due to my health and also we have 2 daughters, an 8 year old and a 1 year old. my husbands job is on the line at the minute as there are rumours of it closing down. please could someone help us with good advice, my mental health is not good at the minute, im so scared of what may happen. we live in northern ireland
thanks so much
By nomlas
#249463 Hello margaretc, I am not sure if NI is the same as England and Wales but I dont think it can be too different. Is the bank you have the loan with the same one you have your wages/payments paid into? If so change banks to one that you do not owe anything to ASAP, the Co-Op is very good.

If your parents are not on the title deeds/ land register then, as far as the creditors are concerned, I think it is irrelevant.
I would ring Payplan or CCCS, they are both non fee charging debt counsellors and will give you excellent advice, they can set up a DMP for you and deal with your creditors.

If you do decide to go on a DMP then please make sure you have enough to live on, £250 PM seems an awfull lot to pay out in your circumstances and I would not worry unduley about the time it will take, you have a young family and they must come first. My DMP will take 286 years and I am not the record holder :D

When you contact the creditors do it in writing and tell them that you can only discuss the matter in writing, explain that you have health problems and young children, state that you can not be subject to stress. They will probably still ring but tell them, politely but in no uncertain terms, that you have taken advice and that you have been advised to only discuss in writing, refuse to answer their security questions and then hang up, they will eventually back off. The big obstacal to overcome with dealing with creditors is fear and guilt but please remember it is not a crime to be in debt; RBS/Natwest owe more than we could possibly imagine and they do not seem to feel guilty, in fact The Top Fat Cats are about to pay themselves multi million pound bonuses.

Please keep posting and read some of Gazza1912, chandjay, DuffNCustard and simond23 (and many others) posts on here they will point the way in dealing with creditors, and make you smile aswell. if you need any more info please ask.

Regards and best wishes. -- nomlas
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By DuffNCustard
#249495 Your crediotrs are feeding you all sorts of suggestions and half truths.

They may do this or they may do that - well I might one day be a size 8 again - on the other hand I might not!

There are a couple of things you can do this weekend

The first is to make a list of all your debts - get a spreadsheet together and lay out all the details - name, account number balance outstanding, how much of that is arrears, what the minimum payment is.

When you've done that reward yourself with a nice cup of tea and a few biscuits or a bag of chips - always makes me feel better and explains why I'll never be a size 8 again :mrgreen: :mrgreen:

The next thing to do is to visit the CCCS website

(payplan and national debtline are also good but the CCCS are running my debt management plan so I'm biased)

And bone up on all the 'facts' - and also try the 'debt remedy' on line - your spreadsheet will help with the input.

I guarantee it'll make you feel better - this is because you'll start to feel in control and you'll have the beginnings of 'a plan' forming - YOUR PLAN not your creditors.

Make sure you cover your mortgage and your utility bills - these are way more important that your consumer debts - unsecured loans, catalogues, credit cards and all that sort of guff.

You are not going to be turfed out of your house - end of :mrgreen:

Then come Monday morning get on the blower to the CCCs or Payplan

Both are charities and even the phone call is free! Both exist to help debtors like us to get out of the clarts and LIVE a decent life whilst we are doing it - OK we don't dine on fillet steak anymore but there's a roast dinner every Sunday!

Keep posting - the Good Folks on this forum certainly taught me how to handle rude creditors and their spawn!
By margaretc31
#249563 Thx so much for your replies, i really appreciate the help you have given me. I will defo be on the phone monday morning. I just thought think our biggest creditor namely aa finance will not agree to such a little payment. We borrowed £18,000 and now the balance is £28,000. They are low down dirty *******! They have passed it onto a company called blair, oliver and scott. i wont even answer the phone these days cause most times its dca looking money. And the same companies ring at least 3/4 times a day!!! Its doing my head in :evil: :evil:
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By DuffNCustard
#249565 For useful tips on how to sort out those unwanted calls read GAZZA1912's posts - his approach is 'poetry in motion' - and do rest assured that the heads of those DCA's are far more done in than yours - they're on commission - the more they rake in the more spondoolies they get.

HAR HAR HAR - they'll be eating 'value brands' this month!!!

Oh dear how sad never mind :innocent: :innocent:

And if you really want a laugh well Squire Chandjay perched aloft on the top of his mattress (he stashes his cash under it) has brought DCA's to their knees - striped them up one side and down another - hell he even posts here when he's on his holidays in Spain!!! :mrgreen: :mrgreen:
By wisernow
#249613 I can only re-iterate what has been said already.I told my cdeditors i can only deal with them by letter due to hearing difficulties which is true,but the advvantage is it gives you more thinking time,you have a record of what is agreed or otherwise.Dont forgeyt as a priority as well to change your bank account to a non creditor one.the co-op are usualy good and although i dont have them as my main account,they have never threatened me by trying to offset any funds and been very sympathetic.
By chandjay
#249653 Hi Margaret,
To be fair, Blair, Oliver & Scott have always been very accomodating to my offers. Whatever I have offered they have accepted without any bother at all. They are one of my better DCA's.

If you have been passed on to Blair Oliver & Scott, then your debt is almost certainly financed by The Bank of Scotland, so AA Finance must be connected to them.

B.O.S. = Bank of Scotland
B.O.S. = Blair Oliver & Scott

One and the same - Geddit !!!!!!!!!!!
By margaretc31
#249893 yeah thats right its bank of scotland. As far as dca's/creditors go i have reliable collections, bos, mercers, lowells ulster bank, santander, barclaycard, wescott, debt managers, debt clear investigations, fpc and moorcroft. If u have any tips on dealing with any of these i would really appreciate the heads up

Thx Margaret
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By JaneClack
#249913 I would certainly ring Payplan or CCCS - National Debtline will give you impartial advice but if they recommend a debt management plan it will be to one of the above two they send you. If you have multiple creditors and want help it is easier to use a non fee-charging debt management provider but if you feel you can cope then it is also possible to do your own and both CCCS and Payplan would give you the tools to do do.

Just remember a creditor does not have to accept an offer but it has to accept the payment so keep token ones going whilst anything is being set up and see what the above two companies recommend - it will not be bankruptcy here due to the equity in the property unless your parents are on the deeds and own most of it!
By margaretc31
#250205 Thx guys

We own the house 50/50 but there is nowhere in writing that says my parents own half, although i do think it does say somewhere that santander have the first charge and my parents have the 2nd.
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By Gazza1912
margaretc31 wrote:Thx so much for your replies, i really appreciate the help you have given me. I will defo be on the phone monday morning. I just thought think our biggest creditor namely aa finance will not agree to such a little payment. We borrowed £18,000 and now the balance is £28,000. They are low down dirty *******! They have passed it onto a company called blair, oliver and scott. i wont even answer the phone these days cause most times its dca looking money. And the same companies ring at least 3/4 times a day!!! Its doing my head in :evil: :evil:
DCA phone calls really should not be "doing your head in". Well, not once you know how to deal with them.

I'll not go into detail here as that will simply be repetition of my post on how to deal with DCA telephone calls. All I will ask here is : Are you complying with them and answering their 'security questions'? If you are, the next time they ring DON'T!!

If you refuse to answer their security questions the DCA CANNOT proceed with the call. Simply say and say this word for word:

'I decline to answer your securiity questions as I take my private life and prsonal financial details very seriously and I have no intentions of revealing personal and private information to a complete stranger in an unsolicited telephone call'

They may interupt you, but just keep speaking and keep repeating the above over and over until they hang up.

if you want to be a bit cheeky and have a bit of fun, add the following to the above:-

'if you seriously believe that I am going to answer questions about my private and personal details to a complete stranger over the telephone in this age of ID theft when we are warned by the Police and the Banks not to reveal such information, then you must of been at the back of the queue when they were handing out brains'.

For more help and advice on dealing with DCA phone calls have a read of my topic down in the off topic lounge.
By margaretc31
#256213 Thanks so much everybody for all your advice. We are setting up an IVA on the advice from CCCS. They have been so good and supportive. We have been passed onto Grant Thornton a company who specialise in IVA's, they too have been great.
So far it looks like £177 a month for 5/6 years and we are debt free and get to keep our house!!!!!!

Sleep alot easier these days and thats thanks to you guys :clap: :clap: :clap: :clap: :clap: :clap: