Author Topic: 10 pence for a £1000 debt  (Read 56396 times)

exlowellslave

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10 pence for a £1000 debt
« on: Jan 28, 2016, 04:29:20 PM »
I don't know if people are aware but debt companies pay as little as 10 pence for your debt, how can they earn so much profit on this...Plus if you dispute and stick to your guns they will write it off . If you suffer any sort of illness they will write this off and remove from your credit file. If you choose to pay offer £1 per month never set up via Direct Debit, always request a pay card. Never give your email. Dont give them your mobile you will be bombarded. They offer you discounts on the balance because they paid such a small amount for the balance. Make sure you check when the debt defaulted as it only stays on your credit file for 6 years, 5 years in Scotland. Once off your credit file this will not effect you at all. Never pay no matter how much discount they offer you a debt over 6 years old or that is coming up to 6 years old. Refuse to complete details about your money income. Always request to speak to complaints and management will fob you off. Any debts you default on phones, catalogues, store cards, credit cards, water bills, doorstep loans, bank accounts these will have been purchased in bulk and broken down are worth about 10 pence each...Do not back down fight your corner and the debt will disappear.

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #1 on: Feb 06, 2016, 04:26:51 PM »
i am in the situation with capital one i have recieved a letter from the bisnuess court saying to pay 100 pound a month

exlowellslave

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Re: 10 pence for a £1000 debt
« Reply #2 on: Feb 06, 2016, 05:41:53 PM »
So is the the capital one dealing related to a credit card ? Is it also something to do with a business you own or did own ?

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #3 on: Feb 06, 2016, 07:21:09 PM »
credit card xx

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #4 on: Feb 06, 2016, 07:22:34 PM »
i am a pensioner on pension credit i cant afford 100 ound a month

exlowellslave

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Re: 10 pence for a £1000 debt
« Reply #5 on: Feb 06, 2016, 07:46:46 PM »
Well if you cant afford what they are asking they have to accept what you can afford...You have a few options, either speak to them and explain your financial circumstances, if they dont except your offer then state you cant afford £100 pm no matter how much they push you for the payments, all they will do is default you on your credit file and then sell it to a debt agent for a few pence, then the debt company will chase you for money...But all in all you only pay what you can afford on your terms, if its £1 per month you pay £1 per month and make sure you dont set up by direct debit, request a pay card at a pay point as they will clear out your account....Just explain your circumstances and make sure you leave yourself in life comfortable and set a plan up to what you can afford...They wont send baliffs and they cant threaten you with any. You have more important things to pay like bills , food and other bits and bobs...Dont give into what they demand pay what comfortable and if they dont except mention the CAB or Stepchange ....

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #6 on: Feb 06, 2016, 08:45:54 PM »
the problem is its not capital one its from the business court

exlowellslave

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Re: 10 pence for a £1000 debt
« Reply #7 on: Feb 07, 2016, 10:51:05 AM »
Same stance apply's if you cant afford what they are asking offer what you can , they cant place you in financial difficulty

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #8 on: Feb 08, 2016, 03:42:36 PM »
contacted cab got appointment thursday with them/have you got a template letter i can send if i have to write to the court?

emmy2016

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Re: 10 pence for a £1000 debt
« Reply #9 on: Feb 11, 2016, 02:55:16 PM »
hi exlowellslave,went to the cab locally today,they have passed me on to the debt management team at cab,i have an appointment next thursday what will happen?i simply cannot afford 100 pound per month the most is 10.00 permonth.got confused when the advisor said about prioity debts,and non prioity debts they are both important i have to buy food electric gas,i have token meters so am not in arrears but still have to put money in meters,any hope or shall i just slash my wrists now,

exlowellslave

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Re: 10 pence for a £1000 debt
« Reply #10 on: Feb 29, 2016, 10:55:49 PM »
Priority debts are rent, council tax, electric, gas, tv license, food, clothing and cleaning/house keeping. Its basically what you consider priority. £10 per month is more than enough. You only pay what you can afford , its not a important debt and they cant demand more........

Markssxx

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Re: 10 pence for a £1000 debt
« Reply #11 on: May 02, 2016, 03:58:40 PM »
Hi wondered if anyone has had to deal with Lowell? I have 4 mail order accounts they are chasing me for and I have disputed the excessive charges from these accounts with Lowell who keep saying they will place my account on hold for 30 days until they get JD Williams to send the original CCA's. The total of all 4 debts is £1000 and I have offered a FFS which they declined. I offered them 20p in the £. I do not think these accounts are legaly enforceable in a court hence asking for the CCA etc. Any advice from anyone appreciated. I should state that Lowells have had these since 2014. I am also in an IVA and was at the time of these accounts being openned. I would say 80% of the total is excess charges etc