Worrying letter.... what to do....
Discussion
The mrs had a slightly worrying letter in the post this morning, when we first met Spring 2005, she was earning very good money, and lived on her own flat.
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
thatone1967 said:
The mrs had a slightly worrying letter in the post this morning, when we first met Spring 2005, she was earning very good money, and lived on her own flat.
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Lot of details missing there fella6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Did she keep paying the debt after she moved?
Who is the letter from?
What is the amount and for what it is wanted for?
Has she missed any payments over the last few months?
I had a letter from a debt company claiming that I had an out standing debt for an orange phone I had 5 years ealier, they couldnt tell me the dates or furnish me with the mising bill, but orange did confirm that they had sold the debt to said company but wouldnt give me any details as it was all being delt with by the collections company. Company wanted £150 for it, I agreed to pay £75 as that was all I could spare, they bought, it took the money and I never saw another letter. Not saying this is the best way to deal with the issue, it was just what I did, as it got is sorted and out of mind quick.
Edited by KrazyIvan on Wednesday 19th January 15:39
KrazyIvan said:
thatone1967 said:
The mrs had a slightly worrying letter in the post this morning, when we first met Spring 2005, she was earning very good money, and lived on her own flat.
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Lot of details missing there fella6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Did she keep paying the debt after she moved?
Who is the letter from?
What is the amount and for what it is wanted for?
Has she missed any payments over the last few months?
I had a letter from a debt company claiming that I had an out standing debt for an orhange phone I had 5 years ealier, they couldnt tell me the dates or furnish me with the mising bill, but orange did confirm that they had sold the debt to said company but wouldnt give me any details as I was all being delt with by the collections company. Company wanted £150 for it, I agreed to pay £75 as that was all I could spare, the bought it took the money and I never saw another letter. Not saying this is the best way to deal with the issue, it was just what I did, as it got is sorted and out of mind quick.
thatone1967 said:
KrazyIvan said:
thatone1967 said:
The mrs had a slightly worrying letter in the post this morning, when we first met Spring 2005, she was earning very good money, and lived on her own flat.
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Lot of details missing there fella6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Did she keep paying the debt after she moved?
Who is the letter from?
What is the amount and for what it is wanted for?
Has she missed any payments over the last few months?
I had a letter from a debt company claiming that I had an out standing debt for an orhange phone I had 5 years ealier, they couldnt tell me the dates or furnish me with the mising bill, but orange did confirm that they had sold the debt to said company but wouldnt give me any details as I was all being delt with by the collections company. Company wanted £150 for it, I agreed to pay £75 as that was all I could spare, the bought it took the money and I never saw another letter. Not saying this is the best way to deal with the issue, it was just what I did, as it got is sorted and out of mind quick.
GT03ROB said:
thatone1967 said:
Dont know full details till I get home, but embarressed to say she did just (run rather than walk) away...
Oooopppssss......The title is “Are there any debt advisors about...”
Sorry, I know it must have been some very dark days but the past is arriving at platform 2...
OP this situation is unlikely to be pleasant but does need to be dealt with now.
You need to find out what debts she walked away from so you know the size of the problem. If creditors have not pursued any of the debts for over 6 years they could be time barred. While those debts still exist, the creditors cannot chase payment.
If this is the only creditor, then it is best to talk to them and pay whatever she can afford until the debt is paid. It may be that you could offer a full and final settlement at a discount to the amount owed. If you discuss this with them make sure they know it is your money not hers and they must acknowledge that it is full and final settlement before the money is paid. If there are a number of creditors or it would take substantially over 5 years to settle then she should take advice from an insolvency practitioner to see whether an Individual Voluntary Arrangement is appropriate. If it is not then bankruptcy may be the best course of action as it will extinguish any chance of similar letters needing to be dealt with in the future.
The choice of what to do should include consideration of what assets she has in her name. Put simply bankruptcy would bring her share of any jointly owned property into the equation.
First place for advice would be the CAB but if there are several creditors or large sums owed, I would recommend arranging to meet an Insolvency Practitioner. Most of us offer free inital advice so it should be easy enough to arrange. If you cannot find one PM me and I will see if I know anyone local to you.
Finally, both of you should try to stay calm. Debt issues are stressful at the best of times and she may feel awkward for having simply ignored the issue years ago. There is always a solution, it is just a matter of finding it.
Hope it goes well.
You need to find out what debts she walked away from so you know the size of the problem. If creditors have not pursued any of the debts for over 6 years they could be time barred. While those debts still exist, the creditors cannot chase payment.
If this is the only creditor, then it is best to talk to them and pay whatever she can afford until the debt is paid. It may be that you could offer a full and final settlement at a discount to the amount owed. If you discuss this with them make sure they know it is your money not hers and they must acknowledge that it is full and final settlement before the money is paid. If there are a number of creditors or it would take substantially over 5 years to settle then she should take advice from an insolvency practitioner to see whether an Individual Voluntary Arrangement is appropriate. If it is not then bankruptcy may be the best course of action as it will extinguish any chance of similar letters needing to be dealt with in the future.
The choice of what to do should include consideration of what assets she has in her name. Put simply bankruptcy would bring her share of any jointly owned property into the equation.
First place for advice would be the CAB but if there are several creditors or large sums owed, I would recommend arranging to meet an Insolvency Practitioner. Most of us offer free inital advice so it should be easy enough to arrange. If you cannot find one PM me and I will see if I know anyone local to you.
Finally, both of you should try to stay calm. Debt issues are stressful at the best of times and she may feel awkward for having simply ignored the issue years ago. There is always a solution, it is just a matter of finding it.
Hope it goes well.
Dont ignore it,
As said contact them to find out the full details, as it may not be as bad as you think. Speak to CAB when you have the details, and then speak to the company again and see if you can work out a deal with them, most will be look to get as much but not always every last penny they say you owe.
Think long and hard before going down the Bankcrupt/IVA/"we can write of your debt" route. But above all else work togther, not against each other to get it sorted, it might be a tough few months for you, but fighting about the past isnt going to change any of it.
Good luck.
As said contact them to find out the full details, as it may not be as bad as you think. Speak to CAB when you have the details, and then speak to the company again and see if you can work out a deal with them, most will be look to get as much but not always every last penny they say you owe.
Think long and hard before going down the Bankcrupt/IVA/"we can write of your debt" route. But above all else work togther, not against each other to get it sorted, it might be a tough few months for you, but fighting about the past isnt going to change any of it.
Good luck.
If its a letter from a Debt Collection Agency then DO NOT phone them. Do everything in writing. Having had dealings with these idiots before Ive learnt some valuable lessons especially when it comes to the way they deal with you over the phone.
Shame it wasnt 6+ years ago because then the debt would be Statute Barred and not legally enforcable. They cant do anything either if they dont have a copy of the original Credit Agreement. You can request a copy of this from them normally for a fee of £1.
Theres lots of information here if you need it http://www.consumeractiongroup.co.uk/forum/forumdi...
Shame it wasnt 6+ years ago because then the debt would be Statute Barred and not legally enforcable. They cant do anything either if they dont have a copy of the original Credit Agreement. You can request a copy of this from them normally for a fee of £1.
Theres lots of information here if you need it http://www.consumeractiongroup.co.uk/forum/forumdi...
Sounds like pondlife debt collecting threat monkeys to me the site listed above will be able to advise you.
http://www.consumeractiongroup.co.uk/forum/content...
http://www.consumeractiongroup.co.uk/forum/content...
TheCoolerKing said:
Sounds like pondlife debt collecting threat monkeys to me the site listed above will be able to advise you.
http://www.consumeractiongroup.co.uk/forum/content...
The same as my link then http://www.consumeractiongroup.co.uk/forum/content...
thatone1967 said:
KrazyIvan said:
thatone1967 said:
The mrs had a slightly worrying letter in the post this morning, when we first met Spring 2005, she was earning very good money, and lived on her own flat.
6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Lot of details missing there fella6 Months or so in to the relationship, work turned crap, she had a breakdown, lost her job, life generally fell apart.
She had debt of approx 2/3rds of our current joint salaries, but completely manageable, and when it all fell apart, she moved away from her then home in with me, my finances were not in a good state either, but, we have managed to sort things out.
All was fine until we received this letter this morning which I have not yet seen asking if she lives at our address and if she does, she must call them immediately, or they will take it that she does...
Did she keep paying the debt after she moved?
Who is the letter from?
What is the amount and for what it is wanted for?
Has she missed any payments over the last few months?
I had a letter from a debt company claiming that I had an out standing debt for an orhange phone I had 5 years ealier, they couldnt tell me the dates or furnish me with the mising bill, but orange did confirm that they had sold the debt to said company but wouldnt give me any details as I was all being delt with by the collections company. Company wanted £150 for it, I agreed to pay £75 as that was all I could spare, the bought it took the money and I never saw another letter. Not saying this is the best way to deal with the issue, it was just what I did, as it got is sorted and out of mind quick.
Not that I mean to sound harsh but...
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