I already did the SAR thing earlier in the year and so the good thing is that I can now tot up the charges each creditor 'owes' me pretty easily. The reason I didn't take it any further is because a so called advisor told me that all bank charge claims were on hold. I have now discovered from this site that this is not the case for credit cards and loans. Is this correct? If so, what I'll do is send start making payments as per my new offers; request a copy of my agreement from each creditor and; work out the charges per creditor and then send a letter asking them to deduct this from the balance. Is this a good plan? And is there a letter template for the "deduction of charges from what I owe you" scenario?

Ok...so to summarise then, my plan of action should be: 1. Wait and see what responses I get to my letters which have more or less halved the repayment amounts to each creditor. (Should I make a payment on Jan 2nd to each creditor for the amounts listed in the new offer as a goodwill gesture and to show I'm serious...or shall I await responses?) 2. Write a letter to each creditor asking for copies of my credit agreements AND listing the amount levied in charges over the last 6 years. Should I do both of these in one letter or should I send two letters? Should I send these now or await responses to my first letter with the new offer? Sorry for so many questions but obviously I want to do this correctly. Thanks

Thanks to Alan & Paul for the replies. I appreciate it. Just a couple of questions...firstly, I assume they will only negotiate a reduced sum if the debt is to be paid in full? I have already had a couple of written offers of possible balance reductions but as yet I have ignored them as I'm not in a position to pay off in full. Maybe what I should do is sit down and work out the charges over the last 6 years for each creditor and then knock together a letter negotiating to have those charges reduced from the balance. Is it worth it do you think? Is there a template on here for such a letter? One of my fears is also that now that I've basically cut in half the repayment offers, maybe now some of the creditors will look at it and think hang on a minute its going to take this guy nearly 14 years to pay us off. Will they go for that or will they start with the threats again? And maybe follow the threats through to court? Like I said before, bottom line is I don't want bankruptcy. Also, a point I forgot to mention...I owe AMEX approx 12k in total. When they passed the account onto a debt collector (newmans) in early 07 I'm sure about 1500 quid in charges (debt collection charges maybe???) was added to the account. Surely I don't have to pay these charges? Is there any legal precedent on this? I'd like to say thanks to the site as well as I learned something yesterday...the suspension in bank charge claims doesn't apply to cred cards and loans. Nobody had told me that so I think I had better crack on with trying to reduce my balances. Agreed?

I imagine mine will be one of the most complicated on here (typical) and I could just do with a bit of pointing in the right direction if anyone has any advice. Any comments will be greatly appreciated. I'll try to be as brief as possible. Ok, I live abroad. I have my own business (with partners...I feel this partners point may be important). My income is quite good. Cash flow however at the moment is tight as we have just expanded the business. I own properties here (heavily mortgaged). I have about 65k in unsecured UK debt across 9 creditors. At start of 07 I wrote to all creditors informing them I could only afford 850 pounds per month to be spread amongst them pro rata. They all agreed...eventually. And for the whole of 07 I have been paying the agreed payments. Interest and charges were, in the main, frozen. Happy days...or so I thought! Now, because of a recent necessary business expansion I have not paid any payments for Oct, Nov or Dec and so the threatening letters have started again. Today I have posted letters or faxed the 9 creditors to tell them that I have lost my job through stress and now only have 400 pounds per month to divide between them which is being provided by my parents as I now have no income through lack of job. I have told them also that I am living with parents and have no outgoings. Therefore my budget planner is very simple. The truth is, what I have told the creditors is not true. It has been done because I can afford the 400 pounds a month at the moment but nothing more. Soon, when I can afford more, I will pay more. I intend to pay these debts in full as I want the noose from around my neck. Also, if we sell the business one day, which is also possible, I will then also pay the debts in full. Do people think I have done the right thing today? And do you think the creditors will go for this new agreement? And what is this CCA thing I keep hearing about? Is this asking for proof of the credit agreement? If so, isn't the fact that I already entered into repayment agreements in writing with them all at the start of 07 not just as legally binding as a CCA? If so, is it worth me even thinking about going down that road as technically I have acknowledged my debts in writing. Another question...earlier in the year I requested the last 6 years statements from all my creditors and boy oh boy have I been charged a lot in charges over the years. I was going to give all the statments to an agency who would then claim the charges back for me and take 25% (I didn't mind this as I am very busy trying to run my business). At some point in 07 though I was informed that all bank charge claims were on hold until a High Court case made a decision on the matter. However...my question is this...can I not claim these charges back against the debts I owe to each creditor? Every pound helps! If so, how do I do this? Finally, is there one agency somewhere that can help me with all of this? All the letter writing and keeping on top of everything. Even if I have to pay for the advice I don't really mind because if this takes up too much of my time then my business will suffer and then I will be totally screwed. Bottom line is I don't want to go bankrupt and I really don't think there is a need for this as I am building a succesful business but am just suffering from short term cashlflow. Sorry for rambling...and pointers would be appreciated. Thanks.

ok, cheers, i guess i'll just carry on regardless then and see what happens.

Sorry if this post is in the wrong place. I have my statements and want to claim back my charges. I feel there is no point now though after the ruling in favour of Lloyds TSB the other day which I read about. Can someone "in the know" tell me if I've misinterpreted this ruling and that its still worth claiming? Or has the ship sailed now? Thanks.

so am i best just leaving it then and doing nothing with regard to the credit cards whom i still owe money to and am now in a repayment-only, cards-cancelled, situation with at the moment?

Thanks

Can someone please direct me to the right thread? I'm just about to default on about 10 credit cards and loans owing about 60 grand. Some of the lenders have accepted my reduced payment proposals but then now the debt collector who appears to have bought my AMEX debt yesterday threatened me with bankruptcy. Can they do this? If I don't get help quick I will have to call one of those debt reduction companies that are advertised all over the TV to help me even though I know they take a big cut of any monthly monies I repay. Thanks if anyone can point me in the right direction.

what if an account has defaulted and the card/bank is still owed money by me? so in basic terms lets say i am succesful in claiming 1000 pounds but i owe them 1500 pounds and the account is only still "open" for repayment purposes? are the banks within their rights to use the 1000 pounds to decrease the debt i owe them? or must they send me a cheque and then i continue with the prearranged payment plan? does anyone know the answer to this?

Can't find what I'm looking for although I'm sure its on here somewhere. I'm writing the Data Protection Letter to send to my banks but I have some questions: 1. I can't find addresses as to where to send them to for Northern Rock Loans, American Express, MBNA and Egg. If they are not on this site should I just send them to the addresses on my statements as I can't find them on that weblink either that is on this site, 2. Talkin of Northern Rock Loans, can I actually claim for loan charges or is it just credit cards and bank accounts? 3. Does anyone know if I send the Barclaycard request to the same address as the Barclays bank one or are they separate entities as I suspect? Sorry again for the basic questions.

hagenuk....i can't see where i picked an argument with anyone, i simply reiterated my request more clearly as it didn't seem to be understood correctly first time around. i actually feel you are the argumentative one by passing comments on how i spend my time. nothing to do with you my friend. anyway, to the other replies, thanks for the help. i really don't have time to organise this myself (posting on here takes 30 seconds, whereas it looks like what some of you are doing takes a LOT longer than that) and so will be googling away to find a company to help. thanks again.

i wouldnt waste time saying i don't have time if i had time. i stated i was fine with whichever company it was charging me so anyone else with any information please read in full before responding in the negative. anyone else know of this company i mentioned or one which offers a similar service as i DON'T HAVE TIME? thanks.

hi. brand new here. great site. question...i have over 10 cred cards, bank loans and bank accounts etc and the bank charges rip off will definitely apply to me. unfortunately i really do not have time to organise all of this myself. i recently saw a clipping in a paper of a solicitor/accountant that would take care of all of this for the client. i know they will charge and i am fine with that. i forgot to save the paper clipping though. does anyone know of a company that will take care of all the admin for this for me? thanks for any help.