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small Debt

Last post Sat, Sep 01 2012, 4:34 PM by huckster. 13 replies.
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  •  Sat, Sep 01 2012, 4:34 PM

    Re: small Debt

    plasma1:

    Ok thankyou

    what they are saying to his wife is that they have been instructed that they cant make an agreement until she a filled in this form

    sounds like scare tatics to me

    That is absolute rubbish. If the debt has been sold on, then perhaps the current method of payment needs to be changed, with new bank details to pay standing orders into. But that is about it.

    Suggest that you write back, saying that you have taken advice and do not wish to provide any private information. Tell them that if they wish current payment to be continued, then they should provide 1) relevant legal proof of the sale of the debt to the new owners e.g deed of assignment 2) Proof of the current amount outstanding in the form of a statement of account, which must include details of how the balance has been calculated and 3) Bank account details/reference for the new debt owner to enable a standing order to be arranged.

    Send by recorded delivery to the solicitors dealing. If you have any hassle, then ask the solicitors for their complaints procedures, including details any professional bodies they are members of.

    • Post Points: 5
  •  Sat, Sep 01 2012, 3:45 PM

    Re: small Debt

    Ok thankyou

    what they are saying to his wife is that they have been instructed that they cant make an agreement until she a filled in this form

    sounds like scare tatics to me

    • Post Points: 20
  •  Sat, Sep 01 2012, 3:27 PM

    Re: small Debt

    One way of getting rid of it, is to offer a reduced one-off full and final settlement, rather than pay for another 2 years.

    If the debt has been sold on, ask for proof of this and while you are at it, ask for a statement of account showing how the current balance has been calculated.

    I would not send them any income and expenditure details, as that is none of their business.

    This link from National debtline on mortgage shortfalls may be worth reading.

    http://www.bdl.org.uk/images/11_EW_NDL_Mortgage%20shortfalls.pdf

    • Post Points: 20
  •  Sat, Sep 01 2012, 3:03 PM

    Re: small Debt

    the debt came from his wife having her first home repossed...the house went to auction and there was still money out standing..the loan company was National home loans at the time

    the debt is nearly finished now...the company asking for the form to be filled in is a solicitor acting on behalf of the company who now owns the debt. I mean at £120 a month it will be finished in 16 months..I think they just want to get this finished for good and put it behind theml

    • Post Points: 20
  •  Sat, Sep 01 2012, 2:42 PM

    Re: small Debt

    Agree that if you want proper advice, go to your nearest Citizens Advice.

    But the debt collection agency asking for the income and expenditure information have no rights to receive this. Only a court can request this. So make an offer of an affordable amount, continue to pay it and the debt company will just have to accept it.

    While you are in contact with them, ask them for an up to date statement showing how the current debt amount is made up. If they are adding any interest or charges, it may well be incorrect for them to be doing this.

    Who was the original debt owed to ? What type of debt e.g loan, credit card ? Do you have a copy of the original Consumer Credit Agreement, plus terms and conditions of the account, a copy of the default notice and any termination notice. I think I would be having a look at these. Request a copy of these from the original creditor, if you don't have these, by sending them a Data Protection Subject Access Request (SAR)

    If the original creditor applied any charges or PPI to the account, you might be able to claim these back. It would help, if you had all the statements of account from the original creditor, so asking for these by making the SAR would make sense. Who knows you might find charges/PPI which can be claimed back, which might reduce the debt owing.

    • Post Points: 20
  •  Sat, Sep 01 2012, 2:42 PM

    Re: small Debt

    Yeah I understand thankyou.

    Ill ring him tonight and advise not to make an offer and just go on his wifes salary first off

    • Post Points: 5
  •  Sat, Sep 01 2012, 2:38 PM

    Re: small Debt

    If the debt belongs to the wife then any offer should be made based on her financial circumstances alone, otherwise what would happen if the Husband had a sudden accident or was made redundant?

    By all means once a lower offer was accepted based solely on the wifes income / expenditure, then the Husband could chip in and make voluntary contributions of his own accord to reduce the debt faster and ASAP if he desired, but that should be only done on a purely voluntary basis not a promise based on the wife's details.....do you see where I am coming from?

    • Post Points: 20
  •  Sat, Sep 01 2012, 2:29 PM

    Re: small Debt

    but the husband can easily afford it but he doesnt have to put his salary or any personal details on the form.

    surely they would want the debt paid of ASAP..looking at the wifes income and outgoings she couldnt pay no where near that amount

    • Post Points: 35
  •  Sat, Sep 01 2012, 2:18 PM

    Re: small Debt

    I thought that may have been the case, the way it's worded does imply that £2000 was the original amount of debt.

    My response is still the same though, you need some overall expert guidance and advice, so any offfer that is made is appropriate and of the correct proprtion in comparison to all your other essential expenditure.

    • Post Points: 20
  •  Sat, Sep 01 2012, 2:12 PM

    Re: small Debt

    Sorry no you mis understand and sorry if Ive mislead you

    the debt was more than £2000 to start with...it's now down to £2000

    • Post Points: 20
  •  Sat, Sep 01 2012, 2:04 PM

    Re: small Debt

    plasma1 - wife owes £2000 and the husband has been paying for 2 years at £120 a month

    It should be already cleared !!!

    Well by my reckoning the Husband has already paid £2880 which is more than the original debt, so someone somewhere needs some professional advice. Otherwise how much more or how much longer does he intend to donate to this ongoing debt...and what charges are being applied and are these charges legal???

    Please for your protection seek some professional free assistance from the CAB, to finally seek closure in a much more effective way.

    Otherwise your post title may read : small debt - turned into bigger debt !

    • Post Points: 20
  •  Sat, Sep 01 2012, 1:52 PM

    Re: small Debt

    The husband can afford it no problem and he just wants to clear the debt
    • Post Points: 20
  •  Sat, Sep 01 2012, 1:46 PM

    Re: small Debt

    Take the expenditure form to your local CAB for free help to fill it in correctly after having a in depth discussion with them.

    You should only offer as much as is clearly affordable and realistic, otherwise you may be offering to pay an amount that you could never afford to maintain.?

    • Post Points: 20
  •  Sat, Sep 01 2012, 12:09 PM

    small Debt

    wife owes £2000 and the husband has been paying for 2 years at £120 a month

    now the debt has been moved to another company and they want an expendture form filling in

    the husband pays everything all house hold bills.

    wife works part time earning £175 a week and she buys the food costing about £110 a week some times more

    so on the form they have put N/A on everything apart from the food catagery

    Should this be exceptable...do you think £120 a month is a good offer

    thanks

    • Post Points: 20