Advice

This page is mainly for my benefit so I don't loose any important numbers.

Last Updated 17/03/01

Debt Problems

My advice is don't try and use a "Credit Repair" company as there is nothing they can do. If you are in real despair arrange an appointment with your local Citizens advice bureau ASAP. Not only will they help and advise but the burden will be lifted, trust me I have been in debt and I know it is not nice. The following would normally cost you with a repair agency and after each point they say contact us and we will advise further:

  1. Get a copy of your credit file from Experian & Equifax.

  2. Do a budget including everything + £50 per month for miscellaneous.

  3. If you have had defaults ask the company (i.e. credit card, store card) who registered the default to supply you with a copy of the signed agreement. If they fail to do this within 6 weeks they have no right. If you do get a copy back you will see in the small print they are allowed to do this.

  4. Write to the credit agencies and draft a letter to be added to each default along the lines of "it was not my intention to default but due to unforeseen circumstances at the time I had no choice. My financial situation has now improved.........."

  5. Look again at your budget and see if you can improve your payments without getting into worse debt. Even if it is an extra 50p per month as it all helps.

Budget Tips. It worked for me!

  1. Set up another bank account if possible. Abbey National used to have a £10 joining fee for a instant saver account. Have 1 for yourself and 1 for bills and debts.

  2. Setup a transfer on the day you get paid to cover all bills in account 2.

  3. Setup Direct Debits from account 2 for all bills and payments.

  4. On pay day Account 1 will show you exactly what you have left to last until next pay day.

  5. If you receive a debit card for account 2 destroy it incase of temptation.

  6. The £50 miscellaneous should help but try to pay off your debts as Debt interest is more than savings interest.

  7. If you have more than 1 debt as soon as you pay one off take the monthly payment you used to pay and half it. Put half onto another debt payment and half award back to yourself.

  8. It is a long battle but worth it in the end.

Experian Ltd

0171 623 5551 

Experian Ltd, Consumer Help Service, Nottingham PO BOX 8000, NG1 5GX

6 Years of previous addresses required. + £2.00

Equifax Plc

0171 298 3000 

Equifax Plc, PO BOX 3001, Glasgow, G81 2BT

6 Years of previous addresses required. + £2.00

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Vossnet

 01753 737800 Joy Wright

Sky Customer Services

08702 404040

BT Internet    0870 241 4567

First National Bank FAX 020 8909 4913

Orange     If you are not getting any joy with Orange customer services write a letter to:

Ian Parker

Orange Customer Service
PO Box 10
Patchway
Bristol
BS32 4BR

Fax No. 01454-624520.