debt monkey
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Everything posted by debt monkey
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Thanks Jon. How about if you have defaulted on the credit card and they have a CCJ?
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Does anyone know the answer to the following? When you take out a loan or credit card, the bank have the right to run a credit check with Experian before they approve the loan or credit card. But does the bank still have the right to run a credit check 1 year down the line?
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Should people also be warned about bankruptcy, bailifs and other debt recovery procedures before taking out a credit card?
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99% of it I think.
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I dont work in a bank. Most people that I speak to do not contact the bank as soon as they know they will have a problem and prefer to bury their head in the sand. With regard to charges, what do you suggest they do? If they agreed to freeze charges and interest as soon as you phoned them up and said you were in difficulties, everyone would be phoning them up tomorrow.
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The banking code has to work both ways though, how many debtors really contact their bank as soon as they know they are going to have difficulties paying? The first the bank normally knows of any problems is after they have defaulted on payment.
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Nothing in the banking code about charging orders, how are they flouting it?
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Can they say/do this? ( Optima)
debt monkey replied to star_scream's topic in Debt Collection Agencies
C/O can be enforced for sale. The CSA have been doing it for a while -
Claiming that the banks are abusing this is ridiculous. If the debtor had not defaulted on repayment, the bank would never of obtained a Charging Order. The bank have to go to court 3 times before it ends in a Charging Order, for CCJ, for interim C/O and for final C/O. It is an expensive processs for them.
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