hi all i have been reading about the letter to send to your card company ,to request the original agreement and the possibility of having debts written off.

could someone please explain the procedure, my card was taken out before the cut off date.

thanks--- dave

Hi David

Welcome to CAG

The guys will advise as soon as they are available. Thread moved.

Firstly, you can't have the debts written off, unless you go to court, it is not advisable to go to court. Recent case have meant that it's a non starter, Carey v HSBC (2009).

What you can do is see if the agreement is 'Unenforceable' and try a 'Full and Final Settlement in the future'.

Read number (4) in my signature, the OFT Guide.

Many 'paid for' company like to use the wording as shown in your first post, however, this is just to get you hooked. There is absolutely nothing they can do, at a price to you, that you cannot do for free yourself with the help of members of CAG, if you have debts, then open a thread for each one (no one is counting or judging) and we can and will help you get to a point with each one that is suitable to YOU.

Hi,

It isn't clear from your initial post why you are exploring having your outstanding debts "reviewed" .

CAG is a valuable and supportive forum to help those who have due to financial circumstances, now find themselves unable to afford the contractual monthly amount due to their Creditors - and where the Creditors have been un-helpful, obstructive or just damned unhelpful in assisting the individual to re-negotiate a more realistic amount, until their circumstances change.

It should be noted, that CAG is here to help peeps who are unable to pay their os debts, not unwilling to ... that simply amounts to debt evasion - and behaviour not condoned nor supported by the advice and guidance provided on this site.

If you are in the former position and unable to maintain your commitments, then lots of help and advice shall be gladly given by the good peeps on here (however it is doubtful that your debt whatever the circumstances, will be written off). If however your motives are the later and simply to avoid your obligations, then this isn't the place for you.

Apols if my response seems harsh, but I think its necessary to make clear.

Abs x

Hey Abby that sounded harsh but fair, My question to you is when you are trying to pay them back what you and then they just ignore your please and keep slapping on late fees and interest and then just sell you on to a DCA...How is that being fair on the likes of me and many others who are trying to get out of debt:?:

Exactly .... I was in the same position myself .... your circumstances change, you try to arrange a revised arrangement to reduce the debt and to keep the debt from getting any bigger, but the OC or DCAs just won't listen, show any sympathy etc ..... etc ....

Thats exactly when you need CAG .... and to fight fire with fire ....

Sorry if my prev post seemed harsh, it wasn't meant to be me with a big stick, but rather to make it clear that CAG is a helpful resource to those in our circumstances, and not how the credit industry would like to paint it, a source to help people simply avoid their debts - I just wanted to make sure the OP was aware what CAG was all about, and to make sure that they had arrived at the right place for help ... which is always here for those who need it...

Abs x

Hi,

 

It isn't clear from your initial post why you are exploring having your outstanding debts "reviewed" .

 

CAG is a valuable and supportive forum to help those who have due to financial circumstances, now find themselves unable to afford the contractual monthly amount due to their Creditors - and where the Creditors have been un-helpful, obstructive or just damned unhelpful in assisting the individual to re-negotiate a more realistic amount, until their circumstances change.

 

It should be noted, that CAG is here to help peeps who are unable to pay their os debts, not unwilling to ... that simply amounts to debt evasion - and behaviour not condoned nor supported by the advice and guidance provided on this site.

 

If you are in the former position and unable to maintain your commitments, then lots of help and advice shall be gladly given by the good peeps on here (however it is doubtful that your debt whatever the circumstances, will be written off). If however your motives are the later and simply to avoid your obligations, then this isn't the place for you.

 

Apols if my response seems harsh, but I think its necessary to make clear.

 

Abs x

i like an honest opinion ,i have 8 credit cards most of them have £1000 or less on but two of them

i have £4800 [LLOYDS] and £2400 [EGG]my total debt is approx £13000 up till now i have paid them reguarly and will continue to pay as long as i have the funds ,but i am self employed i have a cafe /sandwich bar and my takings have dropped 60% over the last year and i fear it will get worse before it gets better,my mortgage is my number one priorty and i can see me not being able to pay my cards ,so what do you suggest i can do ,i have asked egg to reduce my payments but they have refused .i dont want a bad credit rating but it now looks inevitable on my current income .also i am claiming tax credit because my income is low. dont think i qualify for an IVA think you have to have £15000 + of debts. thanks

Davidm53 Hi.Think about a debt management plan,this is something you can run yourself,but 1st have a look at the CCCS website have a good read,look at their income & expenditure form,even speak to them by phone/online.There is never any guarantee that you will get onto a 0% interest with every creditor but if you manage to get the majority going down this route it will take some of the pressure away,it will also show you what to pay each creditor from your available income after your priority bills have been paid.

You can see from Rebels reply the CCA route is no longer the best route to take,it will slow things down but that is all.A number of Caggers will disagree with this I am sure.

DMP best route

Regards FS I use CCCS myself and in general they are fine and FREE

Hi there,

You're in the position most of us were in when we found CAG.

I had similar problems, but my debt siguation was a LOT worse - I contacted my creditors - some were more agreeable than others. Those who refused to accept reduced payments, or wanted an amount I obviously couldn't afford - I had no alternative but to get hold of my orig credit agreement to see if they been charging the correct amount of interest, charges etc to try and reduce the overall balance.

Most CCAs that came back however, we merely application forms, with no info at all regarding the terms under which my account was being adminstered - so as I was unable to check the details under which they were making threats, etc ... the accounts swiftly went into dispute - as they are now ... and the OCs receive nothing at all .. and won't do until I have a vaild agreement provided which will enable me to check what interest, charges etc I did agree to at outset.

So .... coming back to you ... you will receive defaults against your name with CRAs - this is pretty unavoidable as the creditor is allowed to do this as soon as you default the terms of the agreement ... whether they actually have one to provide or not ... (and thats a whole other kettle of fish, trying to get them removed even if they can't provide you with a copy of your orig agreement).

As a self employed bod, its CCJs, IVAs, bankruptcy orders that can cause problems, if for example your company is LTD - so try and avoid this if at all possible.

I would suggest keeping paying what you can for now, but also send in a CCA request letter to all your creditors, with your £1 postal order. Send it recorded delivery.

Now they have 12 & 2 days to respond with a compliant CCA, if they don't respond, send you an application form, send you anything by which you are unable to check the validity of the administring of the account to what you signed at outset - well it goes straight into dispute, you suspend all future payments, writing to them advising them of the basis of dispute.

The template letter library has the letters in there ..... send them off, diary them, and then come back for my help as and when they arrive, you put them into dispute etc....

Any copy agreements you receive, scan up on your thread (maybe a new thread for each creditor would easier for all to keep up) and you will recieve lots of help and guidance on the validity of what has been provided to you, and how to take things forward ....

Abs x

Abby25 do not want to go of at a tangent with Davids thread,

CCA produces agreement or application form,T&Cs, recon agreement,and also by way of statements, proof, of use of the OCs money and payments made by the debtor,with all this in place how many debtors have won in a court of law this year?

Yes claim back the charges the mis-sold PPI and look at DMPs and dispute and fight DCAs who ignore the OFT /ICO/FOS and make wild claims of what they can do, after all as you have already stated the site is not for debt avoidance.

Regards FS

post removed by Abby25.

so is my first course of action to contact each lender and ask for help and if so what should i ask for 0% -reduced payment - freeze on the payments -interest only ???

also i have a good bit of equity on my house and have been thinking to get top up on the mortgage to pay off the 2 largest debts with them out of the way i could manage the smaller payments i hope.

Contacting your creditors is defo the first step, but in WRITING ONLY never over the phone, unless you can record your phone calls?

Write to all of them, outlining your current position, be polite but succinct,don't give them any flannel or sob story, just that when you entered into agreement with them you were in a much better financial position, now with the current financial crisis, your income has reduced considerably, and you are seeking a mature response in order to pay what you owe at a more realistic and comfortable rate than you are.

You "may" wish to enclose your OWN I&E sheet just to back up what you are saying and give them some evidence of your circumstances, there is an I&E form on here, which I can't find but there is also http://www.nationaldebtline.co.uk/england_wales/budget_sheet.php?country=england_wales

Getting into more debt to pay of debt is not the answer, but it is your choice, as you say you will only be able to pay off some, not all, of the debts.

Write them a letter asking for assistance, see what they say, then you can decide where you want to go, if they are helpful then all well and good, if they begin playing silly buggers, then two can play at that game.

David,this is good advice from Bazooka,try to run the DMP yourself,if you run into trouble with your creditors we can help with how to proceed

I understand its lots of writing,but always keep it in writing no phone calls.

Do not increase your debts to try and pay some of your other debts,not a good move

Regards FS

David,

This is exactly what I did, I did enclose my own I&E to back up my request - I had serviced my debts for a good number of years, inc paying them all off when able, and then using them again ..... Egg were particularly helpful as were a few others, but those who were less then helpful (M&S being the worst) ... well as BB says .... 2 can play at that game, which is exactly what I did ....

I got my own I&E sheet from the National Debt Line site - just filled it in - remember to allow yourself enough to live on too re food etc, and send it off with a covering letter just explaining that since you entered into your agreement with them, although previously handled in an excellent manner, your financial circumstances have changed, and you you find yourself unable to meet the agreed monthly amount. I also included in mine, that I was actively looking for employment, and that I hoped the arrangement to be temporary, and would advise them as soon as my financial position improved.

Good advice from BB re your equity too ... I wouldn't get into more debt to pay off what you already owe - thats never a good move...

Abs x

thank you all very much for the advice will write to them outlining my situation and see what happens will update this thread when i have replys .

ps:should i ask for a copy of the original agreement with the I&E letter ???

David you are seeking your creditors help,so a CCA request I feel is not a good idea sent with your I&E,

Lets hope your creditors are all helpful,the ones that are not then go for CCA etc

regards FS

Good advice, firstship. No point getting their hackles up with a templated letter when you want them to help you.

i thought i would ask but i thought that anyway .thanks again

i have sent a letter off to lloyds

and have sent email to Egg as they have no address to send a letter, email reply told me to ring and they want me to work out my I & E and ring them back so will do that .

This should really be done IN WRITING, if you ring them and discuss your I&E with them over the phone, they WILL bully and intimidate you to pay a figure that you cannot afford.

IMO I would email them again and make it clear that you wish to send them your offer of payment along with an I&E form in writing so as to negate ANY miscommunication, and so you and they will have written proof of your offer to pay.

update : i wrote to the card people and have a good response from lloyds they have lowered my payment and the interest ,couple of others are doing the same ,but i have a prob with CAPITOL ONE

sent them the same letter and a i&e form but now they have requested my last 3 months bank statements a copy of my accounts and proof of benfits [i get tax credits which i told them about]

im a bit worried about sending this info as i only owe them £900.seems a bit much .

what do you guys think .

rant :this situation is not my fault its theres ,they are the ones that screwed up the economy,now all i get is my credit limit lowered saying as responsible lenders were lowering your limit, pity they didnt be that before and we wouldnt be in this mess .rant over

This should really be done IN WRITING, if you ring them and discuss your I&E with them over the phone, they WILL bully and intimidate you to pay a figure that you cannot afford.

IMO I would email them again and make it clear that you wish to send them your offer of payment along with an I&E form in writing so as to negate ANY miscommunication, and so you and they will have written proof of your offer to pay.

they have sent me a letter to ring them to make the deal as it were ,so will ring them but will say i will put my offer in writing

Had similiar problems with Crapone - I just sent my own I&E and said £x per month and left it at that. Lots of phone calls and fun failing their security questions. Also fun making up your own security questions which they always fail.

Are there any charges on the accounts you could reclaim. I was successful with both LTSB and Crapone. Worth a go - could reduce balance owing.

Hi

I had the same from cap1, I complied with there request bank statements etc. Interest frozen, pay 10.00 per month.

This was 4 years ago. Receive similar every year.Now ignore. Balance stands at around 1400

All the best

Cad