Debt Help Forum Contact Us About Us Home
Debt Divas Answer
Debt Divas Answer
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Debt Divas
 Welcome To Debt Divas
 Token Payments
 Forum Locked
 Printer Friendly
Author Previous Topic Topic Next Topic  

David
Starting Member

5 Posts

Posted - 18 December 2014 :  13:58:14  Show Profile
Hi this is David here, and I am new to the site, so any help will be much appreciated.
Having returned from working overseas for many years, due to a failed business, I have been on Pension Credit for almost three years, and will reach retirement age in September.
I have a debt with Barclaycard which was sold on to Link Financial, of ?11,500, and was advised by Step Change to make an offer of ?1-0 token payments, while I tried to sort things out.
My circumstances have not changed and with me being 65 within months, I can not see me being able to ever pay more than the Token Payment, as I explained to Link Financial by phone, and to be fair to them, as yet no presure has been applied.
However I was told, that as of February 2015 I would be put on the Debtors list, back dated three years, which means that in another three, I would be taken off it.
With this ongoing situation, could anyone advise as to what will happen in the future.

Amy Jellings
Debt Diva Expert



110 Posts

Posted - 19 December 2014 :  17:25:37  Show Profile
Welcome to the forum David.

What exactly do you think that they mean about the debtors list? Is this to do with reporting to the credit reference agencies?

Could you let us know whether you own any significant assets, such as a car or home for example?

Do you have any private pension provision now or in the future?

Are you expecting to come into any sums of money at all at any point in the future?

Amy Jellings
Bright Oak
Debt Advice & Debt Management
Go to Top of Page

David
Starting Member

5 Posts

Posted - 19 December 2014 :  18:01:00  Show Profile
Hi Amy............yes I would be "reported as defaulted" from February 2015, according to the letter received from Link Financial.
I now have no assets and rely totally on my Pension Credit, together with the additional benefits that come with this, such as Housing Benefit.
I have no Private Pension, as I spent almost 20 years overseas, and I will not be coming into any money, with both parents having passed away many years ago.
With no car, and living in rented accommadation, I have no significant assets.
Go to Top of Page

Amy Jellings
Debt Diva Expert



110 Posts

Posted - 20 December 2014 :  08:36:41  Show Profile
Thanks David.

Do you have any other debts at all? If you do, how much is owing on them?

Can I also ask what part of the country you live in - England, Scotland, Wales, NI?

Amy Jellings
Bright Oak
Debt Advice & Debt Management
Go to Top of Page

David
Starting Member

5 Posts

Posted - 20 December 2014 :  11:14:06  Show Profile
I live in England Amy, and the Barclaycard debt is the only one I have.
Well when I say only one, the debt is split between Master Card, ?11,000, and a small one with Visa Gold of around ?250-0, so I am paying two ?1-0 token payments to Link financial every month.
Go to Top of Page

Amy Jellings
Debt Diva Expert



110 Posts

Posted - 20 December 2014 :  12:52:48  Show Profile
You don't need to carry on making token payments forever David, or worrying about what might happen next.

Have you considered a Debt Relief Order to wrap all of this up? It sounds like you qualify for one.

There's a little more about them here:

http://www.debtdivas.co.uk/debt_relief_orders.php

Amy Jellings
Bright Oak
Debt Advice & Debt Management
Go to Top of Page

David
Starting Member

5 Posts

Posted - 20 December 2014 :  15:37:39  Show Profile
Thanks for getting back to me Amy.
I need to look into the D.R.O. situation straight after Christmas, and would appreciate any advice and help.
In the meantime....Merry Christmas.
david.
Go to Top of Page

Amy Jellings
Debt Diva Expert



110 Posts

Posted - 20 December 2014 :  16:11:29  Show Profile
And to you David.

I'd suggest getting in touch with your local CAB when you're ready to move this forwards. They'll be able to assist you directly with a DRO or point you towards someone else locally that can.

I'm sure you'll bring this all under control soon so that you can feel a little more relaxed about the situation (and in control of it).

Amy Jellings
Bright Oak
Debt Advice & Debt Management

Edited by - Amy Jellings on 20 December 2014 16:12:00
Go to Top of Page

David
Starting Member

5 Posts

Posted - 20 December 2014 :  20:22:37  Show Profile
O.K Amy will do that, and thanks for the assistance.

David.
Go to Top of Page
  Previous Topic Topic Next Topic  
 Forum Locked
 Printer Friendly
Jump To:
Debt Divas Answer © 2008 - 2017 Debt Divas Go To Top Of Page
Snitz Forums 2000
(c) Channel Active Limited. Company Number: 06412452. Consumer Credit Licence: 0617772. Data Protection Registration: Z1332750.
Please note that telephone calls may be monitored or recorded.