Full and final settlement

[Binker]

Hi,

 

I really can't thank you enough for all your advice. I wouldn't have known this line of enquiry existed let alone know how to start.

 

We will still be going abroad, offer on house accepted and surveys done so its happening. Its not just money pushing us down this route its family too and being with them. My Husband is not English so he has no ties with the UK emotionally so it will be great opportunity all round really.

 

Ok, look out for my new threads per card when i receive the CCA's.

 

Binker

[Chesterexpress]

You people are unbelievable, the OP has run up debts and now wants to wriggle out of paying them. Sorry but CAG was never intended for this type of behaviour.

[The GodMother]

yes but remember she doesnot even no if one of them is a legal document as one of them does not have her signature on it. If you had read the previous posts you would no that. Here is the exact part if one of binkers post that tells you that just in case you missed it.

 

'know with one card, the application was done on line and available to view, and my signatures marked with a tick.'

 

I would suggest that that is NOT a correct way of signing your name.

 

Binker i would ignore Chesterexpress as did not fully read the post.

 

If they do get back to you then i would advice you S.A.R them to find outt how much you ACTUALLY owe without and interest, penalty charges and insurance or anythink else they have decided to add to your account then offer a token payment regarding how much you actually owe them and make very clear that this token payment will only be made by you with the conditions that a) they stop charging you interest b) they take off all interest payment you have paid in the past and recredit them to your account c) they re credit to your account any late payment fees d) they redcredit to your account any other fees you have had to pay to them. e) you ask them to then write to you confirming how much you owe and then you can work on it from there.

 

Good luck with your fight to get rid of your cerdit. Please keep use informed of what happens.

 

The GodMother.

[Binker]

HAK, whats the reasoning behind using a digital signature and not a real one?

 

B

[Having_A_Knightmare]

Hi

 

It has been known in the past for companys to forge signatures and put them on agreements.

 

HAK

[Having_A_Knightmare]

Chesterexpress

 

Can you give me your wise comments on the below

 

Remember the above amounts look a lot but I got in to trouble years ago and kept balance transfering for card to card. The banks kept putting my credit limit up, I kept balance transfering. I bet 70% of the above amounts are intresest.

[Chesterexpress]

Godmother, I did read all the posts unlike yourself apparently. The OP stated earlier that there have been no penalty charges put on the accounts. They have admitted to taking out the credit cards and running up the debts and was trying to see if they were likely to accept a part payment in full and final, as I have said why on earth should they.

 

Now people are giving advice to see if there are any get out clauses, sorry but I think this is totally out of order. If they have had the credit then they ought to pay it all back.

[Having_A_Knightmare]

Chester express

 

This is my last comment before we all ignore you.

 

Ive just looked at your postings and every thing you have discused is negative.

 

Good bye from me!!

 

HAK

[Chesterexpress]

Chesterexpress

 

Can you give me your wise comments on the below

 

Hak, people have to take responsibility for their actions. Just because it is interest doesn't mean you ought not to have to pay it back. Nobody forced you to take out the credit cards. And yes I have been there and admit it was one heck of a struggle, but I paid them all off eventually and learned my lesson.

[nuke em]

You people are unbelievable, the OP has run up debts and now wants to wriggle out of paying them. Sorry but CAG was never intended for this type of behaviour.

 

"You people are unbelievable', Which people?, What people? Do you mean the people that are on here because they have debt issues/experience of debt/experience of dealing with DCA et al and are willing to pass their help /experience on to other people free of charge ??? Are these the people who you find unbelieveable?

 

If this so why are you on here ? , As i understand it, this forum is about DEBT and all the ramifications that that entails. Of course some of the advise will be about about debt reduction/reduced payments/ non payment etc thats the way the world works.

 

If you need proof we only have to look to our stand up "peers" in government and the world of commerce, lets explore some examples shall we

 

The wonderfull Mr. Northern Rock was so prudent with his finances that one day he decided to lend to people who had no income, no job and no way of paying this back , he decided because he was greedy for the extra sub prime interest rates he was getting he would spread this around a bit. But what happened? Oh yes the guy ( Mr No Job) that had no job, lost his job and began to defualt on his loan. and so did his friend , his family , in fact everyone he knew did . This caused Mr Rock to panic, he decided to do a Google seach on " IVA's for Major British Lending instutions" and he also contacted "Payplan" but they were no help either. So he did what any large, private organasation does in cases like this , he looked for a way of getting out of paying what he owes, he did a F&F on some of the debt and he then went to you & i , The British Taxpayers to bail him out by lending him 8 billion pounds of our money, Money buy the way that my local Hospital and various other project could well do with ! I am soooo glad that my tax pounds are being used to bail out a private Company

 

Or how about the Goverment and their dealing with the 2012 Olympics?, of the 10 Billion that it will cost to build the Olympics, they have spent nearly 2 billion on the "Goverment Credit Card" on fess, consultants, "loans" etc etc, Guess what happens to that money, it getting written off! Who agreed to this , why you and i did, the Taxpayer

 

My point here is obvious, when the "little" people try and make their life right again after mistakes in the past, people like you (who cant possibly know the true extent and circumstances of that person) sit here in moral judgement, This is set against a best case scenario where that person might be able to reduce/avoid/lower a debt to a Company

 

Perhaps we should look further at private companies and the goverment to see if they can teach us more ways of "dealing with debt"

 

Remember, avoidance is not a crime, Rape & Murder are

[powelll]

Hak, people have to take responsibility for their actions. Just because it is interest doesn't mean you ought not to have to pay it back. Nobody forced you to take out the credit cards. And yes I have been there and admit it was one heck of a struggle, but I paid them all off eventually and learned my lesson.

 

Good for you. But not everyone is in that position. This forum is here to give people help and advice and I'm afraid you don't appear to have made any contructive comments to help the OP. So I am unclear why you posted. Yes you are entitled to your opinion - as we all are. But the other posters have given practical advice to the OP whereas you seem to be questioning their morals which is unacceptable when you are not in full possession of the facts.

 

As Sequenci rightly pointed out - if a creditor or DCA is willing to accept a reduced amount in full and final settlement of a debt then it is THEIR CHOICE - they can simply refuse and the OP can then look at other options ( which if you read the thread you will see myself amongst others have mentioned ).

 

People usually use credit because it is available and because at the time they take it out they can afford the repayments. As a debt advice professional, the vast majority of people I deal with have had something fairly drastic change in their circumstances which means that they physically cannot afford to live if they repay a credit card.

 

I think you should think a little more carefully before making personal comments on the forum. Or refrain from posting - you have not been constructive so the forum will not be any the poorer for not having your input.

[gizmo111]

You people are unbelievable, the OP has run up debts and now wants to wriggle out of paying them.

/quote]

 

At no point have I seen the OP sugest that she wriggles out of the debt, in fact the thread is based around how she can pay her creditors every sing led penny she has.

 

Sorry but CAG was never intended for this type of behaviour

CAG does not and never will condone debt avoidance, however by the same token CAG will not sit by and see its members struggle with impossible debts that are detrimental to their quality of life, when there are other solutions that are agreed on a daily basis many times over.

 

The OP could have walked away from the lot, and declared bankrupt but has chosen to seek help and consider options so that her creditors recevie back as much as she can realistically give them.

[sequenci]

'know with one card, the application was done on line and available to view, and my signatures marked with a tick.'

 

I would suggest that that is NOT a correct way of signing your name.

 

 

Online applications are perfectly fine, I would imagine the debt could be enforceable.

[rory32]

The Electronic Communications Order 2004 was implemented into the Act on 31st December 2004. From this date an on-line agreement where a signature is simply a tick in a box is enforceable as a properly executed agreement.

[The GodMother]

Sequenci and rory32.

 

Thank you for your comment regarding the online application forms. I thought that all application form and credit agreements wether typed or hand written HAD to have your signature on. Rory32 i personally was unaware of that order and act. Thank you for your helpfull advice.

[dannyboy660]

You people are unbelievable, the OP has run up debts and now wants to wriggle out of paying them. Sorry but CAG was never intended for this type of behaviour.

 

I think CAG is about supporting and informing people.

 

I think I might be able to help you to sleep easier if you understood a little more about how the credit industry works. For example take a look at posts Credit Today online nobody is likely to be losing out here, as even the smallest loans are insured and underwritten. Take a look around at some of the sites and forums for those in the profession, I'm sure it will be a real eye opener for you. InsideARM: Account Receivable Management News and Information is mostly US but is relevant in the sense that most of the companies operate here too and follow the same procedures. You may need to join up to access some of the best articles.

 

I believe you when you say you don't work for a DCA or in the Credit industry, as even they don't use the "you had the money now you have to pay back" argument anymore. They make more money from debts and defaulters than they do from people who pay in full and on time. And as for "dont borrow in the first place.." how would anyone afford a home of their own?? What would drive this booming economy we're all enjoying?? I feel perhaps you had a bad experience of your own, but missed the opportunity or lacked the support to put things right.

 

I do enjoy it when people try to defend the DCA's/OC's because they always find themselves in difficulty trying to justify something which is often nothing more than routine everyday business deal - and to try taking the moral high ground without being fully aware of someone's personal circumstances, or even the position of the lender, is absolutely bizarre. They've reinvested every penny that the OP has already paid over the years and made a fortune - but I have a feeling you already know that.

[nuke em]

Spot on DannyBoy

[rowbo1071again]

Well I thought it was me.... obviously not, he is not a nice person with a poor opinion of people. If I hadn't had a nervous breakdown and been to war and developed PTSD and the bank hadn't wanted their money so bad then I wouldn't be in the sh**e I'm in today. As far as I'm concerned if you can find a way out of the dark you will take any path available to you, be they bad or good, right or wrong.

[The GodMother]

rowbo,

 

everybody has there own personal story behind the debt.

I hope you are getting over your personal reason ok. Yes anything that helps get ppl out of the dark does help even if it is there fault. We not necessarly are trying to wiggle out of debt just trying to make our lives more affordable. I have sent off ccas to companys and i will be ing them to my advantage. I am willing to pay the companys but not at extorsinate rastes that i cant afford. I will be using the ccas to offer something like £4.00 a month to every body or lump sums to companys on a month by month basis. This will be of couse with out them adding interest or fees as that wont reduce the bill. if they refuse to accept it then i will pay it still but i will tell them fine take me to court and get even less as a judge is fully intitled to give you less and a judge cant make me pay what i cant afford. I know i may be sounding like i want to wiggle out of my debts but i am doing everything that i can to afford to pay each company i owe each month and i am over streched struggling to buy food for my family. I feel that that is not good enough and i should not have to struggle to pay for my basics when i can negotiate with the lenders if they have not followed the correct action.

 

If ppl think i am wrong then i am sorry. I have economised but not one single company has bothered to help me with reduced payment or a month by month basis so why should i let them take what i cant afford.

[Its WAR]

I settled with Nat West a full and final offer. Now they are sueing me for the balance. I have been asking for a year for copies of credit agreements for the business overdraft £5500, copies of signed Guarantee agreements (I guaranteed the business overdraft), copies of default notices sent to both the company and the guarantors, bank statements etc.

 

They have sued me but have not produced even one letter in reply to my letters. All I have is the summons issue form explaining the case they are claiming.

 

If I were you, I would sell my house and not pay out a penny untill the creditor lawfully supplies you with statutory documents. Keeping your money is lawfull and moral. The law says the money cannot be claimed from you untill the documents are supplied.

 

Only when you have the paperwork, should you make offers. Then the offer could be 40% if the paperwork is in order and they may accept the deal. Or £1 if they fail to supply the paperwork.