All Forums  archive  bankruptcy postbag for july  Help Please - Contact from Creditors...

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by dazed and confused[/i] [br]Dear Forum Hope you are all well! Just a quick update and a request for advice... I have now stopped paying my creditors their full amount - HSBC, Egg, Cooperative and Student Loans Co. - I wrote to them saying I was no longer able to make the full payments and would be paying each of them a token gesture of £10 each a month. I amended all my DD's and SO's with my bank to do so. So far, the payment to Coop and HSBC has gone through as they were SO's, but somehow Egg managed to take the full amount even though I changed the DD to £10!!! Do they have the authority to override the amount which I set to pay them on their website? Well, since then I have had a lot of calls from both Coop and HSBC but have not been answering them - I am a bit of a coward!!! Coop have been calling me about 5 / 6 times a day and leaving messages for me to call them back 'Urgently'. I think they are just trying to scare me. I have also had 3 letters - 2 from Coop and 1 from HSBC. The first Coop one is a 'Default Notice' saying that I am in breach of my Loan Agreement and saying that if I don't make the payment by 14 days then my name may be given to Credit Reference Agencies and that I may have to pay the remaining balance of the loan (£20,421.22). I have also had another letter from the Coop saying 'Urgent' and asking me to make the payment again. The Coop have not acknowledged that I have sent them the letter. I have had a letter from HSBC also. They acknowledged that I have sent them the letter. They have been quite reasonable. They have asked me to complete a 'Personal Financial Assessment Form' and return it to them in 14 days. What should I do??? My plan was to put off paying my creditors fully for a couple of months and put aside a bit of money as a contingency fund, and then either enter into an IVA or go BR. I would prefer not to go BR as I see this as a last resort. Should I reply to them??? Send them a letter / call them up??? Should I continue paying the £10 a month or nothing at all??? How long can I go without paying them before they are knocking on the door??? What about Egg - will they keep taking the full payment even though I have changed it to £10 a month again??? Should I cancel the DD altogether??? Will my creditors be more likely to accept an IVA if I cooperate with them at this stage or should I keep my head firmly buried in the sand and get my contingency fund??? I am now over my credit limit on the HSBC credit card, and over my overdraft limit on my HSBC account, so am probably going to get charged for this too. I have set up 2 new Basic Bank Accounts though so my old account is redundant. The reason I need a contingency fund is because I am having a lot of problems with my car at the moment which is proving to be quite expensive - I have taken it to 5 different mechanics and they are all at a loss to sort it out. Also, I am going out to Canada for a year, possibly longer in February to live and work (my partner is Canadian and she is out there now), so I need some money put aside for a flight, Visa and Travel Insurance. Sorry for the long message!!! Any info. / advice would be much appreciated... [/quote]   Check here to include your profile signature.