Thread: If you won the Lottery would you pay off your Creditors?

Just a thought,

It may have already been discussed at great length on a thread before this so apologies if I'm repeating a theme, but who out there would pay their creditors if they won the Lottery and who would sit back with their millions in a Swiss bank account chuckling at the thought of the defaults on their creditfile making them a credit risk?

I'd go for the default chuckling myself.. :grin:

I'd pay off my creditors first.

When my numbers come in tonight I will be paying mine off, though those DCA's won't be getting a 100% payment....as if.

I will make them beg. When I have laughed and shared the grovelling with Cagger's they might get 50% of any real debt. (i.e not the one I am being chased for that I certainly do not owe)

However, they pay typically 10% and the OC writes the rest off against tax(?), and I believe the price they pay depends on bidding and whatever the portfolio is, so maybe I am being too generous?!

Originally Posted by yourbank

I'd pay off my creditors first.

Good point. Yes, I'd deal with them thinking about it, and sod the sweatbag DCA.

I would have to dangle the carrot for fun though....as much as they deserve for being harrassing, ignorant commission grabbing threat monkies and making up lies as they go along.

Maybe I could fund adverts to inform the public what they are up to. :grin:

The OC 'reputation savers' may have a role to play, just never the way they play out that role.

In all seriousness, I would pay off the ones that have been fair to me but the others who have harrased and harangued me would have to work a lot harder to see even 1p of my fortune!

I wouldn't just rollover with my rollover!!

If we aren't being serious? In that case, I would walk into Natwest and pay the money into a current account and agree to meet up with their financial advisor in fact they would probably open me a savings accounts for the points . I would then go and have a hot dog from the stand close to where I used to work and then walk straight back in and ask for the cheque back and tell them I am going to pay it into another account with another bank and I would cancel the appointment to see their financial advisor and shut the savings account.

In short, no, I wouldn`t pay them off, just to be awkward.

If the agreements are naff then it is their fault for giving me something to argue against. They weren`t being fair when they lashed me with charges, blitz my credit score then set these idiotic parrassites onto me, who I don`t even have any business with whatsoever.

I would rather pay the best Solicitors I can find to fight them off, than give in to their demands.

Ideally, Crane, Schmidt & Poole, the Boston Legal team would do nicely



N.P

I just think it would be highly amusing to be a 'Credit risk' on my creditfile and have millions stashed away somewhere! .

And also, as I believe the majority of my CA's could be unenforceable it would be a hard decision whether to be an LIP or pay for a Barrister to take them to the cleaners...

This is all incredibly hypothetical... I don't even do the Lottery!!

Yeah, as Blair once said when he was asked a `what if?` question - `I don`t answer hypothetical questions`. That means he didn`t know the answer anyway.

Oh, and I`d also add Johnny Cochran to my team, if he was still alive

Would i heck pay off my creditors

Originally Posted by mr.ton

Would i heck pay off my creditors

Lets face it without Creditors/ DCA's we would be one bloodsport less and what would we all do on a Saturday Night?

It's as much fun DCA baiting as it is going out clubbing....( the drinking kind not the caveman sport ;-))

There's b*gger all to watch on tele these days so its definitely a thumbs up to not paying for entertainment value alone.

Read the first 2 posts then asked myself....

Who the hell are we kidding, We are not going to win the lottery.

Pessimistic, or what!

Well someone I know did win the lottery and even went public. Wont give the amount as it would give the game away, but let's say an absolute fortune. She was in the same boat as the rest of us and decided she would go public just to p**s off all the DCAs and creditors that hounded her for the last couple of years. She then started to receive letters saying "we note you are now capable of paying your debts". She then employed quite a top barrister to write to all of them saying "yes I know I have got the money but none of it is going to you - where's my credit card agreements etc and if you want take me to court you can do but please bear in mind that my barrister will charge £1000 a day to appear"

Some are still hounding her though!!

Would you believe it even though her credit file is shot to pieces - I have seen it - she is still receiving correspondence from companies asking her if she wishes to take out credit cards/store cards etc.

I would pay the creditors who have played fair but for the others not a penny. My wish would be to institute a criminal claim against MBNA for fraud!! for my CCA.

Finally, I would employ top firm of solicitors to help each and ever cagger on this website and make a large donation to CAG for all the help they have given me in the past.

We can all dream

HH

Originally Posted by hammyhound

Well someone I know did win the lottery and even went public. Wont give the amount as it would give the game away, but let's say an absolute fortune. She was in the same boat as the rest of us and decided she would go public just to p**s off all the DCAs and creditors that hounded her for the last couple of years. She then started to receive letters saying "we note you are now capable of paying your debts". She then employed quite a top barrister to write to all of them saying "yes I know I have got the money but none of it is going to you - where's my credit card agreements etc and if you want take me to court you can do but please bear in mind that my barrister will charge £1000 a day to appear"

Some are still hounding her though!!

Would you believe it even though her credit file is shot to pieces - I have seen it - she is still receiving correspondence from companies asking her if she wishes to take out credit cards/store cards etc.

I would pay the creditors who have played fair but for the others not a penny. My wish would be to institute a criminal claim against MBNA for fraud!! for my CCA.

Finally, I would employ top firm of solicitors to help each and ever cagger on this website and make a large donation to CAG for all the help they have given me in the past.

We can all dream

HH

Excellent story HH,

That is my attitude exactly, see? It does happen.

Good on your friend or whoever it was.



N.P

i dont enjoy owing people moneyso id pay em off.its about not being able to afford to pay ..if i had the cash id pay em and cant understand why you wouldnt

I agree with Spamalot, the ones who have been quiet get a 50% offer, other ones (and I am down to three outstanding) get a 20% offer. After all by winning the Lottery (I won £10 last night on it!) I wouldn't need credit again would I!

I wouldn't bother at all with the outstanding reposession claim from GMAC and London & Scottish, they both cocked up and at least I could now afford to take them to court for their sins - although as both companies are now not trading it doesn't seem worth it. I would loose even more and it would be throwing good money away after bad (now where/who would we have heard that from in the past!).

Originally Posted by reorete

i dont enjoy owing people moneyso id pay em off.its about not being able to afford to pay ..if i had the cash id pay em and cant understand why you wouldnt

A couple of years ago I felt the same.. I even considered selling my house just to make the debts go away but having had my eyes opened to the way banks and creditors treat individuals just to add more money to the vast amounts they have already, and the underhanded tactics they use to try and bleed people dry when they are at their lowest through no fault of their own..... and likely brought on by the fat cats mishandling of our money in the first place ,I have had a complete change of heart and would now treat them the way they have treated me.

with total disrespect and disregard. :-|

lets be honest here the debt we are in is our own faults..yes these people are annoying but they are just doing there job..i come here looking for advise on debt and how to deal with creditors..if i had the money to pay id do it in a heartbeat.me not paying them is not out of spite its because im genuinely suffering hardship and have no means to pay at the moment.if i won the lotto id pay em and clear my name as owing money makes me feel ashamed.

You have nothing to be ashamed of, probably 99% of country owes money in one way or another. CAG is here to help you learn laws that you don't know even exists, and help you deal with your debts so you don't pay anything that you shouldn't have to, fees and stuff. I,ve had my eyes well and truly opened!

HAd I known the info I've picked up on CAG three or even five years ago I would not have gone the route I did then, but thanks to CAG I am now more or less in the clear (shot credit rating but then I don't need credit anyway) and able to afford things up front.

We all would, at the end of the day, like to work and pay bills, but if the bill is two days late in arriving at your house due to post strikes, you pay it online and then the company send a letter (dated three days before the bill was due anyway) saying you are in default and £35 default fee, £25 letter fee and £30 for phone calls has been added to your account (which has been paid anyway) what do you do?