Would really appreciate any responses from anyone with some legal knowledge on the above.

I took a loan out for £600 from Cash Generator a few months ago. I wrote out 5 cheques for £120 each and have since rolled them over twice and paid £87 each time. The last time I went in I was in a major hurry because I double parked and when I went in to roll over I asked if I could just pay the money and go. He said I needed to stay and sign the new agreement but then changed his mind and said it would be ok and I could go. The cheques have been guaranteed by Transax each time but I understand that the retailer has to ensure certain things before they can make a claim from Transax. What I want to know is this agreement enforceable? Since taking out the loan I have got married and I have had a new cheque book and debit card issued. So the details in the store are no longer valid because that cheque book has been stopped and the debit card number is different. When they present the cheques they will be returned I presume by my bank. They were guaranteed but my limit was only £100 and each cheque was £120 plus the guarantee system has now been done away with since 30th June and when the cheques are presented they will be dated by the store as 20th July. I am very sure the cheques will be returned by my bank but what will happen next? Will Cash Generator then try and make a claim with Transax? Will Transax accept the claim without a new signed agreement? Will any of this be reported to my credit file? I would like to be able to pay the debt in installments if possible as I know I will never be free rolling over every month. I just kind of thought that with no signature I may have them in a position that I will be able to do this without them being able to impose any penalties. Any advice on this would be much appreciated. Thanks.

What I don't understand is if you have paid well more than 50% of the agreement then how can they ask for more money for repairs anyway? For example, let's just say the 50% cost was £2000 and you had paid as you said about 33 months then that is 9 months worth of payments more than you needed to. So if you had paid around £3000 then they could deduct any costs from the overpayment and you should get back the rest. I did a voluntary termination with Welcome Finance over 2 years ago and I am only now just starting to get it resolved. I found CAB and Trading Standards to be of little help and actually got some great advice from nationaldebtline.co.uk over the phone. They tried to say they had defaulted my account before I handed my car back and therefore was unable to voluntary terminate. My balance was going up every month with added charges and stood at £4551. Even though after the termination I should have owed about £1100. I kept fighting with them and asking for proof of the default as it was not on my credit file and eventually after me threatening court action against them they admitted they could not provide such proof and the voluntary termination should have gone through in the first place. Another thing to remember about voluntary termination is that you don't have to have paid 50% before you can actually hand the car back. Let's say you should have paid at least £2000 but you have only paid £1500 then once the car is handed back then you will be liable for the £500 remaining. Also the sale of the car is not taken into consideration when you voluntary terminate so it is of no relevance to you what it sells for or your problem if it does not sell for much. I hope you have this matter resolved by now but if not you need to explain all of the above and contact the national debt line as they were a fantastic help to me. Good luck.

Any creditor that has been in touch has been swiftly told in writing that I will not be paying the debt due to it being statute barred. I used a template letter from here and as I am in scotland, I only had to wait 5 years for this as the laws are different. Not proud of the mess I got into but could not see any other way out and just glad it is all over. Not all the companies I owed money to have been in touch but if they do in the future then they will be advised. I am certainly not going to chase them. The law states that if I make no payments or acknowledge the debt within a 5 year period then the debt is automatically statute barred. I only need to advise any creditors of this if they come demanding payment.

You might not agree with it but it works. I owed over 50k and after paying £1 a month for ages I stopped because I knew I would never be free. I decided to return all letters from creditors marked gone away and stopped all payments. 6 years later and that meant that my credit file was clear as all the defaults had dropped off and more importantly they are all statute barred and cannot be enforced. Finally I am free. I know I got into the mess but I know I was pushed a lot by all the creditors practically putting the money in my hands. If I hadn't done what I did, I would still be paying £1 a month now and til the day I died.

A number of years ago, I managed to get all of my creditors to accept £1 a month as I was on income support. I did not send any proof to any of them. All I did was contact them all individually and advised them of my circumstances. When they asked for proof, I advised I would not be sending any of my personal and confidential information through the post to a company that I knew nothing about but that they could take my word for it or take me to court. I then told them I was willing to pay £1 a month and would start payments immediately. I reminded them that taking the matter to court would only result in more costs and most likely with a lower payment enforced. In other words if they wanted to risk it and take me to court only to find out I am on benefits then to crack on. When you are on benefits you are receiving what you need to live on and therefore could get away with 1p a month and no court will force more than £1 anyway. So my advice is always call their bluff and show them you are not willing to budge and you are the boss. If you get tough with them and tell it like it is, there is nothing they can do if the debt is unsecured. Take it from someone who has had lots of experience. If they default your account and it appears on your credit file, it goes after 6 years anyway and won't effect your credit after that. Also if you manage to avoid them for 6 years and never ackowledge the debt in writing or make any payments then the debts are statute barred after 6 years and they can't chase it anyway. I ended going down that route as I knew my debts were too huge to ever clear them and I now have a clear credit history and no one legally able to chase me.

I have recently lost my job, had the last few bits of a wedding to pay for and have been struggling financially so I took out a £600 payday loan from Cash Generator. I wrote out 5 cheques of £120 each. I don't understand why he asked me to do this as my cheque guarantee card is only for £100. Anyway, I have rolled the cheques over a couple of times and because my circumstances are now worse than before I am going to struggle even paying the £87 to roll them over. The bank account that I used to take out the loan now has a different debit card number and is no longer a cheque guarantee card. The reason for this is that when I got married and my name changed, my bank sent me out a new cheque book and debit card. They said that the guarantee system is being done away with at the end of June so that is why the new card no longer has the symbol on it. Basically I want to know if I ask the bank to put a stop on my old cheque book will they still get the money from my account? I am thinking there are a lot of issues which would mean no but need clarification. Original loan taken out in maiden name, cheques written for amount higher than guarantee amount, debit card now changed, old cheque book can be stopped. Cash Generator are aware I got married and that all of my details have changed but they said as long as I bring in new I.D. every time I want to roll over and it is still in maiden name then they are happy to do it. Also I was thinking that as the cheque guarantee service is being done away with at the end of June and will no longer guarantee cheques dated after this would this mean that when Cash Generator bank the cheques they would be rejected as they are due to be banked 4th July? Ideally I would like to place a stop on the cheque book and then come to some sort of payment arrangement with them but I am worried that they will then start reporting to my credit file. It has taken a number of years to get my file looking half decent again and I don't want to ruin it. Does anyone know if places like these report to your file in these situations. They have not done any credit checks so far like Wonga.com for example. I've had loans with them and they report to my file everytime I take out a new loan. Any help on the legal side of things and what I can do to sort this out would be much appreciated. Many thanks in advance.