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| T O P I C R E V I E W |
| Lizzie |
Posted - 10 March 2009 : 21:48:36
The CAB have written to all our creditors, (which resulted in our main bank accounts being closed instantly, I already had two other bank accounts that are linked to any creditors but hubby had to get another bank account) however they (CAB) have now sent us a list showing how much they have offered each creditor monthly and which creditors at the moment have accepted the offer. My question is do we pay the amounts that the CAB have offered the creditors regardless of the fact that not all of them have written back to the CAB comfirming acceptance?
Of course the above could be irrelevant if my hubby loses his job in the next month which is what we are expecting, then he will have to go bankrupt 
Lizzie |
| 3 L A T E S T R E P L I E S (Newest First) |
| frosie90 |
Posted - 10 March 2009 : 23:03:19
Hi Lizzie,
I see what you mean about being pro-active. I was just worried when you said your bank account was cancelled. Hopefully either John or Melanie will be on line soon to advise you because I really am learning as I go along. I just know that, like you, I am up-to-date with payments for secured stuff and only missed one for unsecured. I sent my own letter saying, "Am getting advice etc... problems at the moment ....". Barclaycard were the worst as in phoning my landline with an automated message asking me to call them four or five times a day .. but not in the last two days. And all others are simply sending the next statement saying "You are in arrears" etc. Even my main bank, as of three weeks ago, have not written or called me and yet I owe them the most? Even though they know I no longer have my income paid in there and have cancelled all my direct debits. They have not cancelled my account yet? I reckon, Lizzie, listen to the experts on this website, cos they have certainly helped me. I have felt totally supported and I am getting there. |
| Lizzie |
Posted - 10 March 2009 : 22:46:17
Hi frosie90 thanks for your reply, we were with First Direct and have been for many years, I am not in 'trouble' with any of my creditors, or banks, but the minute FD heard from the CAB they wrote and warned me that my account might be withdrawn. As my hubby and I have a joint mortgate and loan (not secured on the property) the CAB said it would be better to contact all my creditors as if my hubby went BK then I would not be able to pay all the household bills as I do now and my creditors, I think it is seen as being one step ahead as I have no intention of going bk. We are not behind in any payments on the house or ultilites and due to this recession the house is rapidly going into negative equity.
We have not entered into a DMP as far as we are concerned though I have had a letter from one creditor saying that all interest and charges on the account have been put to zero and will remain that way for a year when it will be reviewed advising I make my payments on time. |
| frosie90 |
Posted - 10 March 2009 : 22:17:49
Hi Lizzie, I am a relatively newbie but it sounds like CAB offered an "informal agreement" on your behalf? So I am surprised that your main bank accounts were closed instantly? I thought that would only be as a result of formally opting for IVA or BR? I only thought CAB offered advice and you then make a decision etc. Sorry my response is no help and I hope someone reading can be more help. Just a small alarm bell rang inside me as I have seen on the news that certain Debt Management Companies are "representing" sound organisations like CAB so just wanted to make contact. Hope all works out for you. |
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