Hi again,

If you have the money to get back on track with Lloyds, I'd get in contact with them to get them to remove the default explaining the situation, and that they did not contact you. It is worth trying as you've nothing to lose, but potentially any charges to get back :) You could also potentially look into writing a complaint about this to get it addressed and others have seen that this can work.

Your next step is to talk to either your local CAB, CCCS etc to get better advice on your debts.

You could go onto a repayment plan to sort these things out.

Another option is to submit a CCA request to each of the lenders for a copy of your Credit Agreement (under the CCA).

They may still have an agreement that can be enforced.

If you struggle to get a good agreement, follow this up with an SAR request (£10) for all of the documentation that they have about you (under the DPA)

Have a look at the other threads on CCAs and stubie-one, conmankiller and Basa48 have given the best advice on these topics, with Basa doing this for himself at the moment.

One of the first rules of managing your debt is not to ignore these approaches from the lender, as they will eventually sell on the debt to a DCA and collecting debts is their profitable business, and they walk a fine line of harassing debtors.

This could eventually go to court and get a CCJ against you, all of which will stay on your credit record for a long time (6 years) so it's not just about the past and present, but also being able to get credit should you need it in the next 6 or 7 years.

A lender will sell any debt to a DCA for a percentage of the debt, which could be anything from pennies in the pound to 50%

So for a debt of £1000 the DCA may buy this for £200 and chase you for the whole £1000 plus any additional charges levied.

Good luck with getting it sorted, and let us know how you get on.

Sparky.

Hey sparky

Thanks for replying on this, you really seem to be on the ball from other threads i've read.

The debt is in my name, though it was hers and being a total mug I agreed to let her keep paying it off. Lloyds have now defaulted me, though I haven't had any conversations with them yet about payment plans etc. I would have paid them the 100gbp I was over my limit if they had picked up the phone and told me. I didn't want to get into this situation, I thought I had a standing order paying money into the account and I hadn't received any of the mail from them saying I didn't.

What happens if I ignore them? I'm not a home owner and have little or nothing to my name.

Have been reading other threads on here and think I am in the same situation as many re two credit cards with approx 7k of loans out on them, I have had both prior to 2007 so I am going to explore that avenue.

I know it sounds terrible but I have struggled with this debt for years now and this default has tipped me into a well if I am going to be ruined then I might as well just ruin them all.

If I now stop paying my card bills will they eventually just default me. This would then mean my credit file is ruined- it already now is so no that's no threat- but the interest and charges would have to stop. 28% on an egg card now having never missed a payment?! As I understand it it's then up to me to arrange a repayment plan with them that suits what I can afford. Is this correct?!

How do DCA's work, can the CCC sell defaulted debts to them. And what happens if I just keep ignoring them, can't be sent to jail for it in Scotland so ultimately what can they do. I have a good salary but 90% basically is swallowed up every month to debt

It's terrible as I've tried my very best to always keep up but now just can't see the point anymore. Aaaaaargh!!!

Hi there,

A couple of quick questions:

I'm assuming from your post that your ex and you both still share the same joint account which resulted in the default?

How long ago was this?

Have you asked about getting it removed / set aside given the circumstances?

Did you repay it to get back on course?

Regarding your other debt, it may be worth your while seeking some guidance from your local Citizens Advice Bureau, CCCS, National Debtline or Payplan, who are all charities that could help you organise and coordinate the repayment of these debts.

There are quite a few threads and topics providing the contact details for these.

Stopping payment will kick start a chain of annoyance that could last for a long time. You would default and the lenders would chase you, and chase you, then eventually sell on your debt to a DCA and they would chase / harrass you for repayment whilst adding on charges and interest. It could get to the point where the DCA applies for an enforcement order against your property if you have one.

HTH

Sparky.

Evening all, looking for some advice

Have been doing my very best to cope with all the stupid debt my ex and I took on when younger and have been keeping up with payments well, or so I thought.

Have just been told by Lloyds that I have defaulted for going 100gbp ish over an agreed overdraft limit, they had been sending mail to an old address and had not called the mobile they have confirmed several times they hold on the system. Not arguing though as it is my fault for trusting the ex to pay and not checking every month.

Question is though, through the anger at now having ruined my credit file for the next six years what options can i take for the other three cards and loan I have- approx 12k in total. I have another loan with my employer that would be for probably more than 75% of my debt, approx 20k. that I wish to continue paying but the others I just feel like stopping now- stupid I know.

Question is, if I stop paying what happens?