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chloebug75

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  1. Hi I have received back our CCA (was 2 weeks past statutory time limit but never mind!!). I will scan it when I can but my scanner is playing up at the moment. Anyway as I explained before the application was made online with no decision made at the time, instead they called about 10 days later to offer the card. No further copy of the agreement was received afterwards just the card. Anyway I digress, looking at what they have sent there are about 4 pages in the first part with key financial information etc. It lists the percentage rate as APR rather than rate of interest. It does say how the payments will be allocatted. There is no credit limit- instead it says 'we will choose your credit limit and tell you what it is. We may vary it at any time and write to let you know' (the first we knew how much the limit was was when the card arrived. Anyway these details are all on the first page. The last page has none of the prescribed terms (don't know if it is supposed to for an online application?) and just 2 boxes, one which is the electronic signature tick box acceptance of terms and second box about ppi (which we did not take) I know it is difficult to tell without seeing the agreement but what I am trying to find out is do they need to have the credit limit on the agreement or is it ok to just say 'we will decide what it will be' and also do the prescribed terms need to be on the signature page if it is an online application? Thanks for your help
  2. Hi All, we have started our dmp with CCCS this month, although yet to see whether all our creditors agree. I have also been able to budget to put a bit aside each month (from my unreliable commision) which I am hoping to use if any offer a full and final, particularly on the smaller ones. However we are starting to get loads of phonecalls now. The Halifax being the worst so far, yesterday they tried calling on landline and mobile 15 times! I have written to them all asking not to contact by telephone but they are obviously ignoring that. In fact had a couple of letters saying that they are a telephone bank and therefore will phone how often and when they like. We have got caller display and I am just ignoring them now! The worst though is MBNA (should i be suprised!) as they have started phoning my husband at work. Don't ask me why he gave them his works number. But this does not seem right, he has quite a senior job and therefore this type of call really isn't acceptable. Is there anything we can do about it???
  3. Thanks all for the advice. Wycombe yes we do own a property and in fact the first thing they suggested when we mentioned financial difficulties was taking a secured loan...however our house is currently in negative equity so doubt they'll get much that way.
  4. Hi all, I have recently posted another thread regarding the debt that we owe but was advised to start a new thread for each CC. So here it is. We have a Virgin CC, taken out in late 2005 and currently balance is 11800. Initially my husband called Virgin to discuss our financial problems and was told 'tough you got yourself into it we aren't prepared to help' ....nice! Since then we have drafted a letter and sent outlining our difficulties and asking for a reduction or freeze in interest (currently 35%) and a reduced payment plan. That letter was sent 26th July. Yesterday we received a reply saying that they could not help without further details and want us to send an SOA and telephone them. After reading threads here I understand we do not have to send an SOA and certainly not to call them so not sure what to do there yet....send another letter? Anyway we also sent letter (template from this site) requesting the original CCA. Letter sent with £1, recorded delivery on 20th July. Guessing they are not outside the statutory time limit. However interestingly (or not) they have credited the £1 onto our account. I am thinking that this is not normal, the letter we sent clearly states that it is to be used for the purpose of the CCA and if they cannot supply it then they should return the £1. Am I right therefore in thinking that they are already in breach? and also if they have credited the £1 unlikely they have an agreement. Also to add the application for the card was completed online. It was not automatically approved but had to go for further authorisation (think at the time we had not long moved house), anyway they telephoned a few days later to ask about my husbands employment and said it was approved. Recieved card a couple of days after that, no agreement was sent and therefore not signed. Any input from anyone greatfully received. Thanks.
  5. Hi all, its been a couple of weeks since I last posted. I have managed to get a new bank account set up and am in the process of getting our salaries etc transferred and also dd for things like council tax and gas/electric. I have made token payments to all other creditors this month of £10 each until our dmp is up and running. Although I have had to make the full payments to the loan and cc we have with our old bank this month in case they just took it anyway but that shouldn't be a problem now. I have a couple of questions though. First is we have sent off letter (using template found here) to Virgin (MBNA) to request our original agreement. The date for them to comply was yesterday but have not had it (suprise suprise), however they have cashed the £1 as a payment to our account. Is this usual? I have proof of posting etc so can prove that it was not a payment onto the account but wondered if this was usual or a stalling tactic? Secondly I have read a number of posts on this site, mostly helpful but now am a bit confused about how to proceed with things. Originally I thought that it was best that we set up a dmp and made payments through them until the debts are paid, probably in about 10years. However there seems to be other opinion here that it is best to not have a dmp, instead pay a token amount and then save as much money as poss to offer as F&F settlement. Can anyone advise if this is appropriate? I still think that a dmp seems less stressful and we do owe the money but then if maybe we could make an offer within a year or 2 maybe that would be better long term (most of the money owed seems to be interest). So feel like I am a bit more in control but not sure now of the best step forward. Certainly doing a dmp we wouldn't have any money left to save to offer later. Thanks all for your time.
  6. Thanks to everyone who is offering advice. It is much easier to get through knowing that there are other people to talk too. Still pretty scared especially reading through some of the threads about court action etc but hoping i will be strong enough to get through. We have sent off requests for the credit agreements to all of our creditors so will post details when i get them. In the meantime still waiting for confirmation of our new bank account to come before we can take next steps.
  7. Thanks Rebel for the links and also the addresses. Virgin certainly don't make it easy to find an address to write to. Both the addresses you have suggested appear. I think it is the chester one though as the exact wording is 'the virgin credit card is promoted by virgin money limited and issued by mbna europe bank limited. Registered office stansfield house, chester business park, chester ch4 9qq) whereas the other one seems to be to do with points scheme. I think I am going to phone Payplan tomorrow and look at setting up an agreement with them if we can rather than CCCS. I am worried though that we have taken out a credit card 4 or 5 months ago which isn't going to look great (even if it was to try and reduce some interest rather than increase debt!). My husband thinks it might look better if we try and struggle on through the next couple of months so it is at least 6 months since we took out any new agreements. Is this right? Also I wonder if anyone knows what likelihood is for creditors to accept a dmp. All our creditors are 'big names', Natwest, Virgin(MBNA), American Express, MBNA and Halifax. Thanks again for the support and advice.
  8. Thanks again everyone for the advice. Neroli-sorry to hear you are in a similar situation. This really isn't a nice predicament to find yourself in! I am still feeling pretty upset about it all today, having a lot of trouble sleeping and wondering how the hell we can ever get out of this mess. Also worried about making late payments and then missing payments and what will happen next. Phonecalls I can probably deal with you can just hang up. But terrified people will start knocking at the door, or baliffs turning up to take all our stuff away. My husband and I have have written 2 letters to Virgin today, one asking for them to reconsider the interest rate and explaining our difficulties and the other using the template for requesting our original CCA. I have read though some of the other threads and seen that some people have had success when complaining to FOS about the interest rates so I will have to hope for now. Not sure about the CCA though, definately never signed anything but guess an electronic signature will sufice. Also reading the threads it seems that they don't even seem to reply to letters requesting the information. But will see. We are going to send one to Natwest for their CC as that was taken out in 1997 so wonder if they will still have the agreement. Does anyone know what the best address is to send the letters to Virgin to? Thanks again everyone
  9. Thank you to all those who have replied. I feel a bit better for even openly talking about the problems we are having and I know that there are probably many more people like us around. Unfortunately we have been hit by several unforunate events in the last few years such as my husband being made redundant twice. The second time he was out of work for 6 months and to be honest we pretty much had to live on credit cards to get by. Our PPI on our mortgage refused to pay out as they 'lost' the payslips etc that we sent. Also I am quite severely disabled which that whilst I do work I can't work full time (30hrs at mo) but because of my disability we often have extra costs such as wheelchair tyres, medication etc. I have downloaded the template letter and will send off to Virgin although after the conversation with them I don't hold out much hope of them backing down! Our credit committments are as follows Natwest CC (26% apr) 12000 (agreement 2000), Virgin CC (35% apr) 11500 (agreement 2006), Natwest Loan (8%) 12000 remaining, American express CC (23% apr) 1800 (agreement 2007), Halifax (lob 5.5%) 7500 (agreemen 2008), MBNA (16.9%) 4000 (agreement 2008), Halifax (newest currently 0%) 4400 (agreement feb 2010). Looking at the information about valid agreements it seems to be those before 2008 so there may be a couple. The virgin application was done online and so no paper agreement was ever signed. I remember them calling to confirm a couple of questions and then opened the account.
  10. Hi. Over the last few years we have managed to accumulate an enormous amount of debt through stupidity, need and circumstances. We are now at the point where we owe around 60k in unsecured debt and i am at the end of my tether. To be honest if it wasn't for my children i think i would just drive off the nearest bridge because i just don't see a way out. We have around 8 creditors mainly credit cards and 1 loan. Over the last couple of years we are in the situation of robbing peter to pay paul in that in order to make the minimum payments we end up putting the necessities such as food and petrol on credit cards. My husband and I both work and have an annual income between us of around 43k gross and child and disability benefits around 5k. That sounds alot but is not when you are paying around 1200 a month just in minimum payments. On top of that we have a house with no equity but mortgage payments around 800 per month. So all in all a mess. Some of the debt is with our main bank so this morning I have taken the first step of opening another bank account. But I am at a loss now. I suffer from depression and the thought of not making payment and people banging on the door scares the hell out of me. We have thought about a DMP but don't know in reality how this would work. They estimate on the CCCCS budget thing that it would take us around 10years to clear which would be ok but do creditors really accept them. One of our debts 11k is with Virgin CC. They put the apr up to 35% and when my husband called them they bascially laughed when he asked if they would consider a rate reduction. He mentioned about a dmp and they said that they didn't have to accept it so tough. They also said that they knew that he had recently taken out another credit card (he did a 0% to try and alleviate the situation it hasnt!) and so it was all our own fault. I am sitting here crying while i'm writing this cause I don't know what will happen to us or our 2 children. Please someone help!
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