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Oldman124

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About Oldman124

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  1. Thanks Dx will check what they sent tomorrow and update. May I ask what GOGW stands for? I assume it's something to do with the lower payments? Will scan up the information from Cap1 as well tomorrow. Many thanks, Oldman.
  2. Hi again. Update to my situation as follows - send three letters off requesting CCA's and offering a lower payment as I cannot afford the minimum repayments. Received a reply from Capital One agreeing to this, and enclosing my original Credit Card Application which was July 2007. The other two (Barclaycard and MBNA) have not replied to my letter at all. Not sure what to do next regarding the latter two - do I just carry on paying the small amount I have offered and wait and see, or do I stop paying altogether? The mortgage has been sorted and has now been extended for a year, and converted to a capital and interest repayment so I will finish that next July. Any ideas as to my next move regarding Barclaycard and MBNA? Ironically, MBNA contacted me regarding my card as they thought there was something wrong and said they were sending me a new card with a new number to make sure it had not been used by someone else. This failed to arrive at all, but have not heard a word more from them. Not sure what to do about that. Looking forward to any further help I can receive. Regards Oldman.
  3. Thanks Silverfox, I will get on with that now and update when I have received replies. Your help is invaluable and I am most grateful. Regards Oldman
  4. Thank you Silverfox, that has explained it very well. I will check on when the cards were first taken out, although I am fairly sure they were post-2007. What I propose to do is incorporate a CCA request within the letters to the card companies asking for reduced payments, sort of kill two birds with one stone, just in case the agreements are unenforceable. Do you think this would be ok? Can I also just check that the postal orders for £1 for the CCA should not be filled in? I think I read that somewhere on here but would like clarification if possible. Many thanks again, Oldman.
  5. Hi again, just to update - I have now received agreement from the bank to extend the mortgage for another year, on a capital and interest repayment. I am now in the process of writing to the credit card companies to ask that the accounts be frozen, interest stopped and a reduced payment accepted, as I will be unable to meet all the minimum payments as well as the mortgage payment. From re-reading through the posts, I see that I should also ask for my original agreement with the card companies. May I ask the purpose of this? As everything was done on line, I do not think I have any agreements that have been actually signed, so do not understand the necessity (I am sure once answered this question will become abundantly clear, but I am an old duffer who doesn't quite understand it all). At least the mortgage is safe and I will be able to sleep again. I will post again when I have the replies from the credit card companies. Many thanks to all for their help so far. Regards Oldman
  6. Hi, have just spoken to the bank regarding an extension and am being sent the forms to fill in. I haven't send the letters to the credit card companies yet and will hold off until the mortgage sorted. Hopefully, this will be done quickly so I know where I stand regarding an extension. I was just wondering what the normal response from credit card companies was to freezing the interest and recouping the already paid interest? Also, the likelihood of them agreeing to pay off in instalments the original credit amount. Any information would be gratefully received. Thank you.
  7. Hi there, I am hopefully seeing the bank next week, as I have discovered that gone are the days when you went to see a bank manager, and my local branch does not have anyone who can discuss re-mortgaging with me, so will be asking about an extension. In the meantime, I have letters to the credit card companies asking for the interest to be frozen and that I am able to offer a token payment for the time being. On reading back through the help I have received on here, I am now in the process of sending CCA letters, but I must admit, I have no idea how this helps? What is the reason for requesting this if everything was done on line? What do I look for when I receive them? Thanks again.
  8. Thank you both for your replies, I appreciate the help. As you say Tony 3x until I have spoken with the bank I will leave the credit cards alone and just carry on with the minimum repayment. Hopefully the bank will be understanding and will be able to suggest the best course of action - either a re-mortgage to cover the entire debts or at least an extension to the existing mortgage left. I am intending to tell the whole sorry mess to the bank representative and pray he/she will be sympathetic as I have banked with them for so long, and up until the last few years have never been in debt. be it overdrawn or credit card. I would say, to be fair to my wife, she did ask me to take over the finances a while ago, but in my infinite wisdom I thought she would enjoy taking the responsibility as she had given up working due to medical reasons and was not only more computer literate then I, but also had more time to deal with them. Hindsight is a wonderful thing as they say, I just wish it could be bottled !!
  9. Thank you both, as you can probably tell I am a bit of dinosaur when it comes to what can and can't be done through a computer, although I am glad of the help on here and am learning as fast as an Oldman can!
  10. Hi again, while I'm waiting for my appointment at the bank to see if I can sort the mortgage out, something occurred to me that I don't quite understand. From reading other posts on here, am I correct in thinking that the following steps are taken - (1) write to creditor asking for payment break/interest frozen. (2) If refused, stop payments and ask for original CCA. Is this correct? The reason I ask is that as these debts were incurred by my wife, and not to my knowledge. I haven't signed any agreement. They have all been done on line - requested, and accepted with no signature asked for.... is this the way it is done now? Just a bit confused .
  11. Thank you Silverfox, I will contact the bank tomorrow morning to make an appointment and will check the other account is still up and running. I am very grateful for your prompt replies and will post further on my progress when I have more information. I do appreciate your help very much.
  12. I do have another current account with a different bank which has been dormant for some time, but is still open and appreciate the information given with regard to a second account.
  13. Thank you Silverfox. The mortgage account, a credit card and the overdraft are all with the same lender who I have been with for over 25 years. I was unaware of the credit card being issued, and the overdraft limit was upped without my knowledge, as everything was done on line. I also have a loan from them which I was aware of and have 12 months left from a five year agreement, which has been paid every month without fail. Should I approach my bank and see if, as this loan has been repaid without problem, could I increase this loan to cover my overdraft and mortgage and then contact each creditor with regard to a break in payments? Or, should I contact the credit card companies first in case I am refused further borrowing and would have a bit more disposable income to put into my mortgage account? If I contact the credit cards first, will my bank be made aware of this and thus realise that although I have no defaults at the moment, this may well change shortly? I am inclined to contact the bank before the credit card companies, but would appreciate any comments/help before I do anything. Many thanks.
  14. Hi and thanks for the replies. The mortgage was an endowment one that, like many others, when it matured did not entirely cover the amount owed. It is only a small amount, £3,300, but as I have no savings and cannot save that amount by September, it is still worrying. At the moment as all the minimum payments are being met each month, there is nothing to suggest I am in debt crisis so was thinking perhaps I could remortgage to cover all the debts (including the £3300 for the final mortgage payment they amount to around £28,000) and repay this over a period of 8-10 years. At my age (62) I am able to retire at 65 and will be receiving an income (private pension and government pension) of the same amount as I do now, so would be able to make repayments for a re-mortgage if I do not have the credit card debts. Am I likely to get a re-mortgage at my age? Any advice greatly appreciated. Also, the irony is that if I do nothing at the moment except keep on paying the minimum payment on the credit cards, I will have enough balance on one of them to pay the mortgage off, but this will incur more interest and hence more debt for the future. I am worried though that if I speak to my bank regarding a re-mortgage would it cause them to look more closely into my finances and then not only turn me down, but withdraw my overdraft facility. Is this likely? Any help appreciated.
  15. Hello all, I am very new at this so would appreciate any help available. The long and short of it is, that I have just found out my wife has run up debts by taking credit cards out in my name, without my knowledge, and has been paying the minimum payment on all of them, thus incurring interest, to the extent that my account is maxed to the overdraft limit every month. She finally told me about this as my mortgage finishes in September and I will be unable to pay it off. As I was unaware of this until this week, am I liable for all the debts (including past interest paid) or is there anything that can be done to solve this mess? Having read through these forums it does seem I am in a better position that many as I do have employment and am bringing in an income each month. My wife is not on my account, in fact does not have a bank account herself. She is also not on the mortgage. I am due to retire in three years, and there is no possibility of repaying all the debts in that time. I can sustain the minimum payments, but the debts will not be cleared in my lifetime and it is making me ill with worry. Can I explain to the credit card companies what has happened without penalty to my wife? What to do??? Any help appreciated.
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