Credit Card debts - CCA query

[rolfey1]

Hi all , this is my first post:

 

You know I was about to post a similar question. I owe tens of thousands on different CC's. May have to go Bankrupt soon, but in the meantime thought i would try to get it reduced this way. Up until now I have kept up with minimum payments & been squeeky clean but the bottom has just dropped out of my business & I have a property about to be repossesed so I have cancelled all my direct debits as of today.

 

Question - I have been spending up to my limit on my credit cards right up until today - wouldn't that go against any claim? I mean if the agreement turns out to be un-enforceable am I not stealing?

 

I will have zero income for about 4 months but still have to work 100 hours per week, so I need to buy some time, I was thinkning of sending out CCA letters first - then try hardship letters or somthing to stall for time. I don't really want to go Bankrupt until I have found somewhere to live!

 

If CCA's are not recived within 12 days, am I right in thinking they have another 31 days to produce it & in the meantime can they not pursue the debt?

 

Also are there any statistics anywhere on this forum that gathers together everyones success/failure at getting CC's & Loans written off?

Thanks

[Guest Old_andrew2018]

Hi rolfey1,

welcomr to CAG, I think you will recieve more replies if you start your own thread.

This is how its done (originaly given to me by a member of the site team), Go to the page you where you want your a thread, at the top and bottom of the page there is a blue box which says...NEW THREAD. Click on that.

 

You will get an empty box up, Give your self a title, eg...CCA Requests.

Please have a read of this link, it has everything you will need to know to help you find your way around this site.

http://www.consumeractiongroup.co.uk...i-dummies.html

Also please have a really good read around the site, as soon as you are ready, make a post and some one will be around to help you.

[slick132]

Hi Rolfey,

 

I've moved your post to your own thread into the General Debt forum, to save hijacking another users thread.

 

You should get some answers there.

Edited September 29, 2008 by slick132

[creditcardmug]

Hi all , this is my first post:

 

You know I was about to post a similar question. I owe tens of thousands on different CC's. May have to go Bankrupt soon, but in the meantime thought i would try to get it reduced this way. Up until now I have kept up with minimum payments & been squeeky clean but the bottom has just dropped out of my business & I have a property about to be repossesed so I have cancelled all my direct debits as of today.

 

Question - I have been spending up to my limit on my credit cards right up until today - wouldn't that go against any claim? I mean if the agreement turns out to be un-enforceable am I not stealing?

 

I will have zero income for about 4 months but still have to work 100 hours per week, so I need to buy some time, I was thinkning of sending out CCA letters first - then try hardship letters or somthing to stall for time. I don't really want to go Bankrupt until I have found somewhere to live!

 

If CCA's are not recived within 12 days, am I right in thinking they have another 31 days to produce it & in the meantime can they not pursue the debt?

 

Also are there any statistics anywhere on this forum that gathers together everyones success/failure at getting CC's & Loans written off?

Thanks

 

Hi rolfey and welcome, your not the only one to find yourself in this sort of mess, most people on here are/have been there myself included.

 

First get this idea of bankruptcy out of your head, thats the very last resort and im sure your no-where near it, You just need to work through these unsecured creditors a bit at a time, i know its scary at first but you get used to it , i myself must have about 50k of unsecured debt so your not alone.

 

You need to make a list of your prioity debts/bills, and these need to be paid first every month, these are mortgage/council tax fuel/water/phone/secured debt/food/clothing etc, this sort of thing.

 

Then another list of unsecured debt i.e. credit cards/loans etc.

 

Do an income and expenditure sheet showing the amount coming in, the amount going out on priority spending, and whats left over to pay your unsecured creditors.

 

When you have done this send a copy to each creditor with a proposal to pay them from this amount.

 

Some will accept it some wont, no matter pay it anyway, then one at at time, start sending them CCA requests. Come back here if/when you get to that stage for more help.

 

Finally, dont worry about the time frame all this is going to take months/years to deal with, but you will get there.

 

after this long post i bet you wish you didnt get me lol:)

[nuke em]

 

Do an income and expenditure sheet showing the amount coming in, the amount going out on priority spending, and whats left over to pay your unsecured creditors.

 

When you have done this send a copy to each creditor with a proposal to pay them from this amount.

 

Some will accept it some wont, no matter pay it anyway, then one at at time, start sending them CCA requests. Come back here if/when you get to that stage for more help.

 

l:)

 

creditcardmug, can you explain further the thinking behind sending them inc & expenditure upfront , i see the paying them a bit every month , but why show them your complete"hand" so to speak . i also get CCA them 'cos if its not enforeceable..... i'm in the same situation as rolfey1 and i am trying to formulate a stragergy.., thanks

[rolfey1]

Thanks Creditcardmug.

 

As I am a publican working all the hours under the sun for zero earnings I think I can probably offer them £1 each!. As I said before I need to buy some time until the new year when my tenancy expires & I can get out of this hellish situation. Problem is debt collectors wont be good for business as they can gain entry, so I need to avoid that one. I think I will have to go bankrupt because I also have a property being repossed for which I will probably end up with a huge bill for. Can't go bankrupt yet until I am free from my pub in which I am a director of a limited company. All very complicated!

 

 

I will start drafting that letter. By the way would mentioning my whole situation to the Cccompanies help, if I said that I hope to get myself straight again by february, in the meantime if you don't accept my offer of £1 I shall have no option than to go bankrupt... is bankrupcy a good threat to use with them?

[slick132]

Hi Rolfey,

 

Don't expect them to respond reasonably to your situation. They'll pursue you for what you owe, regardless of what you say or threaten.

[slick132]

Have you contacted either of these:-

 

CCCS - Free Debt Advice from the UK's Leading Debt Charity

 

National Debtline, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000

 

Also, take a look at the template letters here - http://www.consumeractiongroup.co.uk/forum/debt-bailiffs-advice/20758-creditors-dcas-letter-templates.html