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Everything posted by MAGDA

  1. Hi all, just wondered if anyone has a spreadsheet that will work out contractual interest on credit card charges for me. Also, quick question: I read on another thread that it is possible to charge contractual interest on each individual penalty charge, and then further interest on the overall amount that you've calculated. Is this correct. Many thanks, Magda
  2. Hi Andy, I would take note of AndyOrch's advice above, it makes a lot of sense. I was in a similar situation with Natwest re: an overdraft, and in the end, they agreed to settle for a reduced amount. Their claim was for around £19,000, but they agreed to accept £9,000 by monthly instalment. I accepted because as Andy pointed out, there is a real risk that you could lose in court and then you will be liable for the full amount and their costs etc. As sillygirl pointed out, if you miss a payment once you have agreed to a consent order, then yes, they can go back to the court and obtain judgement against you, but you just have to make sure the amount you agree to pay each month is affordable and make sure you make each payment on time. Knowing Morgans, they will use a very good barrister on the day, but whatever you decide to do, hope it all works out well for you! regards, Magda
  3. One other thing I was wondering, if you fall into arrears with an account and a DN is issued (or at least that would usually be the case) can the company then place an actual default on your account for the first time, say, 4 years down the line? So, although you have been in arrears with the account, and perhaps it has even been sold to a third party, is it considered ok for a default to suddenly appear on your credit file some way down the line, during a period between the original DN being issued and the debt becoming statute barred? I have had experience of this happening and it doesn't seem to be very fair or very logical at all, for a default to suddenly appear out of the blue, at a time when you are probably getting a bit straighter financially and it isn't a true reflection of your financial status at all. If this is acceptable, then it would mean that a default, in theory could be placed (for the first time) on your account five years after you actually defaulted on the account..... Many thanks, Magda
  4. Hi Debbbbsy, sorry that should have said I made token payments up until 2007 (i've got another account that's 1997, and that date is on my mind at the moment) so won't be six years until 2013 unfortunately. Thanks, Magda
  5. Hi gettingsorted, sorry you are having problems. You can do one of two things, either stop payments completely until such time that they comply with your s78 request, although if they later do, you need to be aware that the debt will have increased due to interest. Or, you can write to them outlining what you can afford to pay, not a penny more, reminding them at the same time that they are still in default of your request. I take it they have just supplied an application form, but not any original terms and conditions containing the prescribed terms? If you decide to continue to make payments and they refuse the amount offered, then you can pay it anyway. You tell them what you can afford to pay, not the other way around. Don't speak to them on the phone, it's best really to put anything in writing, unless you have a call recording device. If they do ring, my favourite trick now is to say, "oh just a minute, I'll get her/him for you," and then I leave them on hold, which they don't particularly like. I'm sure you'll get everything sorted, it just sometimes takes a while to get there! Magda
  6. I think the only way to sort it really is to contact GE, though I can understand why you are reluctant, in case it stirs it all up again. Link's claims against us both were discontinued, because they knew they wouldn't win, so you'd think that would be the end of it. Strange how I get arrears notices every so often, but you don't seem to. I think I am going to write to GE and ask what they are playing at, otherwise I will have yet another default for the next six years. Nice that you got the £5, I hadn't heard of that site, had a quick look and it looks pretty good. Are you going to send the £5 to GE?
  7. Hi Semyaza, sorry to hear you have new defaults on your account. I'm not surprised you are so annoyed, makes you furious doesn't it. It's bad enough getting the default in the first place, but when it happens so far down the line, when your credit file should start to pick up a bit, it's even more annoying. What are you going to do, will you try to get them removed? Magda
  8. Hi Donkey, just re-checked my equifax credit file and it actually shows that I am six payments in arrears, thought it was an actual default because it is in red. However, it will soon go to a Default, because theyare updating it each month it seems. This was actually showing on Experian as a Default from around 2004 under Link's name, but since GE (Santander) took the account back, they are treating it as though I am in arrears and haven't yet defaulted (obviously, that's soon to come). The ridiculous thing is that GE sent me a DN when they took the debt back from Link, so how, if they defaulted me (again!) around 2009ish, can I be 6 payments in arrears now? They seem to do as they please, and it causes all sorts of problems for us. Think I will have to check the Experian file again and see if I can see anything on there still. Many thanks, Magda Hi Debbbbsy, thanks for replying. I don't think it is statute barred yet, as I paid Link token payments up until around 1997. I'm pretty sure a default was entered for this account with experian in 2004 or beginning of 2005 though, so goodness knows what GE are playing at now. As you say, think I will have to "Go get em" and try to get this sorted. Magda
  9. Checked my credit file today and GE Money has placed a default on it. I think it was entered in 2010. This is the account they sold to Link and then re-purchased (allegedly) when Link Discontinued their court claim against us. The default was already on our credit file under Link's name, think it was first placed on the file around 2004, so in actual fact, should have dropped off by now. I am really annoyed as we now have another six years with this Default showing up. Also, I noticed that a lof of defaults from 2004 are still on the file, shouldn't they automatically drop off at the end of the six year period? How exactly does this happen, does the outstanding balance (again alleged) if any, still show up on the credit file until such time that it is cleared, or because it has been on the account for six years, does the entry drop off in its entirety? Many thanks, Magda PS How are you getting on Semyaza? Has GE placed a default on your credit file? I'm also getting regular arrears notices from them now....
  10. Just looked at the link you posted "record your calls" - looks very good - the call screening feature would be very handy too, there are plenty of people I'd rather not speak to, HFO being the latest one to add to the list!
  11. Yes, always nice to catch them out! Even if you just want evidence of harassment, if they constantly ring you when you have specifically told them not to, it is a useful thing to have. Magda
  12. That makes a lot of sense CB and is something anyone else in a similar situation should definitely take on board. We actually went into the branch and were honest, explaining that we had a lot of debt and wanted to borrow money to try to clear the bulk of it. The advisor said "you don't want to say that, it's for home improvements isn't it." He then went on to 'stretch' my husband's salary to the max so that we could borrow a sufficient amount, none of which, at the end of the day, was at all helpful in the long run. The mortgage company credit searched us, and although we had a pretty good credit rating at that point (unlike now:roll:) they did discover a lot of debt, but still went ahead with the loan, despite knowing this. It was all about getting a nice commission payment as far as the advisor was concerned. Magda
  13. Hi CB, yes, I don't ever talk to anyone on the phone normally, if we do get any phone calls I always say that they should only communicate with me in writing and I won't discuss anything over the phone. Unfortunately, at the time when we took out the additional loan on our mortgage, we had to go into the branch to see an advisor, and of course, there is no written record of what was actually said. The advisor, no doubt, would just deny everything. This was around 7 years ago. I am going to have a hunt around and see if there are any letters from around that time though, worth a try! Hope you are well, Magda
  14. That's going to be our next step, definitely going to get one. It would make a huge difference now if we had recorded all of the conversations that went on. Magda
  15. That's the trouble, although we know what happened, we haven't really got any proof. I just wish I'd been as clued up then as I am now (thanks to this forum!) still, you live and learn, don't you.... Santander did admit to me though that they shouldn't be selling the fixed rate as a two year fixed rate, when that actually isn't the case. Just wish I had some written evidence on the misselling of our additional loan (added to our morgage) though. Borrowing the extra money was the worst thing we could possilbly have done. regards, Magda
  16. Hi, just wondering if anyone has any opinions on the following. We recently decided to take out another fixed rate when our current fixed rate finishes in a few months time. I rang Santander, and the best they could do was to offer a two year fixed, which would start when the old one ends, in around 4 months or so. The person I spoke to said their rates were going up the next day, and so it would be better to take advantage of the rate they were currently offering. I therefore went ahead and agreed all of the details, the person told me that it would be fixed for two year, starting in June 2011 and the cost would be £424. I would have 14 days to cancel. What the person didn't tell me, which I discovered on receiving the paperwork, was that although the new fixed rate would indeed start in June, it would finish at the very beginning of Feb 2013, so not two years at all. I gather they must take the two years from the date the interest rate is actually agreed, even though you do not receive benefit of that rate until the start date, several months later (our mortgage would be less each month on the new rate, so up until June, we would still be paying in line with the old interest rate). I can't see how this is fair and think it is very misleading, especially as it wasn't mentioned to me at all during the whole application process. The other thing I discovered was that there is, in addition to the £424 charge, a further cost of £225, and nearly £700 seems very excessive for a fixed rate that isn't even for two years, but in actual fact is for 1 yr and 8 months or so. I rang to cancel the deal and asked how Santander (Abbey, originally) can justify this, and he just kept repeating that it is their marketing dept's policy. Also, they do have five year fixed, but they only offer these to some of their existing customers, and obviously we do not qualify. This seems very discriminatory. Is this the same with all the banks? We do not have a very good experience with Abbey/Santander at all, as they have been of absolutely no help in the past and actually misled us into borrowing more funds at a time when we had made it quite clear to them that we were heavily in debt, which they were aware of when they credit searched us. The advisor we saw was certainly on commission and therefore, far from unbiased. He just wanted us to borrow the money, however underhanded the whole process was, just to reap the benefits himself. We were desperate at the time and now, looking back, I can't believe how badly and irresponsibly they (Abbey) behaved. Appreciate any comments, Magda
  17. No, there wasn't any DN, which is the reason as you say the point of termination was argued, which I can see from that point of view makes sense. I reaslise they are highly trained, so maybe you are right, perhaps he does have a trick up his sleeve - certainly hope so. I take your point about the "watching eyes" so won't go into it any further - I'm always aware of that, which is why I don't get too specific with any of the details. Cheers for your help, Magda
  18. Thanks PT. I see what you mean about it not being as straight forward as it might seem. There is a part 18 statement, so hopefully that will shed a different light on things. Still don't see why the barrister argued the agreement was terminated, I can see why from some angles, but as far as s78 goes, it doesn't seem to make much sense. Many thanks for your replies. Magda
  19. When you say what happened first, do you mean if they originally were denying the agreement was terminated, because a DN was never issued for example, and have now backtracked on that? The trouble is, if we have argued that the agreement was terminated, won't that still go in the Claimant's favour because we have basically argued a point which will benefit them at the end of the day? Magda
  20. Hi PT, yes, I agree. In fact it was our barrister who argued that the agreement was terminated in our re-amended defence, and unfortunately, the other side has picked up on this and agree that yes, it was terminated. We had them over a barrel re: s78, but not sure where this leaves us now. Nice to see you around again, your opinion is always really valued. Many thanks, Magda
  21. Hi, I wonder if there are any opinions on whether, if an agreement is terminated (both sides have agreed that it was) there is still a requirement to comply with s78? I have been informed a while ago by someone who is very knowledgeable on consumer law that if the agreement is current then non-compliance by the creditor with s78 is a complete bar to enforcement, whereas if it's terminated, that isn't the case. Any opinions much appreciated. Magda
  22. Hi m2ae, you're right - they don't seem to have very much in the way of documents at all. From what I understand, I think they destroy the majority of the paperwork after a few years. The response to my SAR was pathetic - nothing of any significance at all. What a shame! regards, Magda
  23. Hi Alisindebt, that was a great outcome then, wasn't it - very nice to get £10,000 written off, and also the PPI refunded. It's interesting that MBNA don't seem to have any records going back to the late 1990's - mine was around the same date as yours, except it was taken out directly with MBNA. I received practically nothing in response to my SAR, so can only assume that they don't hold any records for their earlier accounts except the application, which I think were scanned in and everything else was destroyed. Will have a look at your thread! many thanks, Magda
  24. Hi, can I just ask, has anyone had problems obtaining a SAR from MBNA recently, due to problems with their archive, or anything else along those lines? Many thanks, Magda
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