Where do I start?!

[Muffintop]

subbed is when people subscribe to your thread so they receive incoming mails everytime someones posts up or you post up, its for a variety of reasons, so that they can support you, assist you, learn from you and the other caggers.

[cupcake68]

Ok thanks!

 

I will understand all this very soon! (I promise!)

[Muffintop]

Dont worry it takes ages to grasp it all, taken me years and I still dont understand some of the abbreviations. Read, read read, as much as you can, it will consume your every evening, but you need to learn and understand as much as you can. Write to your cards (the letters are on here) officially request your consumer credit agreement send 1.00 postal order. DONT SIGN ANYTHING give them 12 plus 2 days for them to send it and when they dont, dont pay anymore and send them a letter to say account now officially in dispute. Clearly if they do come up with your agreement and it has all the prescribed terms and conditions within the four corners of the doc along with your sig and other information needed (again look this up on site) you will have to pay again as usual but until they do send this to you dont pay them anything. you are at the beginning of a very long road

[cupcake68]

Thanks

 

The beginning of a very long road sounds much better then the end of the road!!

[Muffintop]

Definately very positive, I can understand why you would want to go to an agency to help but heed Roosters post, take a read of it... you can do this yourself Im sure.. I cant say I have done this and won as Im only 3 months into it myself but no enforceable agreement sent so far.

[cupcake68]

How many have you requested?

[Rooster-UK]

There is light at the end of the tunnel.

 

I know, 'cos we've got the switch.

[toto003]

Hi Esile,

 

Welcome to CAG, I am pretty new to this also, but I will do my best to help you.

 

I think what I should be doing is sending all the credit card companies a CCA request.

I know I need to do it quickly but I'm scared to do it until our new mortgage is through.

 

Yes, I agree you should use Template letter N, you will find it here.

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html

 

Requesting your CCA is your right under the law, and financial institutions are not allowed tp punish you for this. But without those copies, you will not be able to establish what your position is with the cards.

 

Banks/Card Issuers are usually not that quick in updating the Credit Reference Agencies when you initially fall behind in repayments, so if you haven't missed any payments yet - it is unlikely to affect your file for about month.

 

Do the credit card companies inform each other once I request CCA's? Do they 'mark my card'? Once I request it and if they then supply it and it is enforceable do they then carry on being awkward?

 

I need to know what the consequences for my actions are likely to be.

 

Some companies may get a little difficult with you, but I don't see what alternative you have. If you read through the CAG site, you will see that some creditors can be very helpful if you write to them and explain your situation. [if have read threads where some have even frozen interest for 6 months or more]

 

It is my opinion that the companies likely to be helpful to you, won't punish you for seeking a copy of your CCA.

 

...Also, I have another post on here to do with the sub prime lender and the contract I have with them

Should I have been given a key facts letter (like the normal menders give)?

Should I have been told about a 14 day cooling off period?

If I pay off the 2nd charge with the remortgage can I then make a claim against them if I go on to find they behaved incorrectly?

 

I am sorry I can't help you with the final questions, it is something I simply haven't read up on, perhaps someone else can offer you advice in this area.

 

I hope this helps

 

toto

[cupcake68]

Thanks toto

 

At least I am kind of on the right track!

[cupcake68]

Thanks for the support!

[Muffintop]

How many have you requested?

barclaycard

mbna x 2

marks and spencer money

shortly tesco

[cupcake68]

One more question (then I promise to turn my PC off until tomorrow!)

 

Thinking back to when I applied for my cards (many moons ago!) I remember filling in application forms (some of which asked me what I wanted my credit limit to be) and signing it. Does that count as the agreement (it had lots of small print) or should I have received something else? All I remember getting was the paper that my credit card arrived on.

[cupcake68]

Have you just not received them or have you had them but found they aren't enforceable?

[Muffintop]

Hya read around other peoples threads you will get the gist of what is and what isnt enforceable. an application is not the signed agreement, you need a copy of your original agreement and then you can post it up for knowlegeable people (not me) who know what it should look like.I have received things that are not enforceable to date

[bazaar]

Hi Esile

There are many ways in which people here have fought back, so you need to find threads that best suit your circumstances, believe me, you'll find plenty to read up on.

The CCA request is just the first step you'll be taking. Once you've decided your best option, (IE, they dont send anything, so you stop payments, or its unenforceable, so you then wait for them to issue court threats.)

This company offering you peace of mind for £395 still wont get you any further than you can here by yourself. Also, if you have a counterclaim, you'll get the full amount instead of having to hand over 10%. This company, whoever they may be, are on to a winner, you'll get all the hassle if they mess it up for you.

IMHO, its better for you to be in control of all the paperwork for your situation.

[cupcake68]

Thanks!

 

Muffintop

I'm sure I will get my head around it soon!

 

Bazaar

When you say counterclaim do you mean claim back charges?

 

They wanted £349 plus 10% of outstanding balance plus they then kept any charges they could get refunded!! I didn't worry too much about that because I have had very few late charges etc over the years but can they also claim back interest?

[bazaar]

OK Esile, lets see if this scenario fits.

They issue a claim against you (they have), you then request the correct paperwork (Youve done that too).

They dont supply the agreement. You then send em an account in dispute letter along with informing them they are in default of your legal request.

Now you are not obliged to pay them until such time they give you the paperwork.

 

Thats most likely what this company will be doing on your behalf for your £395.

 

Its not going to stop any harrassment from the creditors, it certainly wont stop them issuing a court claim.

If they did issue a court claim, you have no papertrail to show that you were trying to see a statement of account and agreement so you could negotiate ,because you had a 3rd party deal with it.

I wouldnt think this company would assist you with the court stuff (If it got that far).

So you would end up having to go through all this letter writing yourself

to get the info you required. You'd have wasted all this time getting to a point that you can get to yourself.

 

My point about counterclaim, would be IF it ever went to them claiming, you have ammunition to throw their claim off kilter. ( charges, fees etc.)

 

If ultimately, they lost or discontinued any claim against you, you now have a shed load of letter writing time and research time that was wasted due to their claim and you may ask the court to consider this.

[cupcake68]

I'm learning all the time!

 

My only concern is the remortgage I am waiting to go through. We are just at the stage of prooving income, the advisor then says it's approx 10 days until it goes through but having been trying to do this since September I'm not counting my chickens!

 

I really want to send the CCa's but I don't want any bad things coming up on my credit rating until I know the mortgage is finalised in case I need to go elsewhere.

 

Does this make sense? Should I wait?

[BankFodder]

Yes, wait

[bazaar]

I'm learning all the time!

 

My only concern is the remortgage I am waiting to go through. We are just at the stage of prooving income, the advisor then says it's approx 10 days until it goes through but having been trying to do this since September I'm not counting my chickens!

 

I really want to send the CCa's but I don't want any bad things coming up on my credit rating until I know the mortgage is finalised in case I need to go elsewhere.

 

Does this make sense? Should I wait?

 

In this case hang tight then.

Its usual for them to retaliate if you go with CCA, so hanging on until your mortgage is sorted would be advisable

[Viano]

Hi Esile,

 

If you are still in doubt about going ahead yourself or going through this "Company" you should find out if they are registered with the Ministry of Justice.

'Google' CMR: Claims management regulations, and then go to the paragraph headed 'New guidance on the marketing of claims for unenforceable Consumer Credit Agreement Claims'. Read and inwardly digest.

 

Ask yourself, and them, are they a regulated company?

Edited February 9, 2009 by Viano
Additional para

[sharkhunter]

Do YOU pay the £349 plus 10% or is Bankfodder implying that you receive that amount????

 

I have been approached by a similar company and am going to a meeting about it next week so will hopefully have some more info.

[Muffintop]

I confess early on in my cca requests I had so many requests initially that I got scared and paid a company 180 to take on two of my biggest cards and two that I was the most unsure off. They would only take on over 5k for fastrack so they can get costs.... its all starting to look very wobbly.... and beg to wish I hadnt dont it, i have still kept a handle on the two cards and in fact on of them isnt officially in dispute and Iv kept paying it as I wasnt sure. the other is one of the easier ones and Iv continued with it myself even though their solicitor has it... basically they ahve sent me out a terms and conds from their solicitor that doesnt match what we agreed... I am now very sceptical about this company as there seems to be costs they didnt tell me at the time, I will let you know how it goes but not signing anything to them until Im sure and may end up loosing the 180 that I paid out, thank god I didnt do all of them

[alanfromderby]

Do YOU pay the £349 plus 10% or is Bankfodder implying that you receive that amount????

 

I have been approached by a similar company and am going to a meeting about it next week so will hopefully have some more info.

 

 

Fact 1 - Any company that does not hold a Consumer Credit Licence cannot legally buy, sell, or do anything with a regulated Consumer Credit Agreement.

 

Fact 2 - In any case, a debtor cannot "sell" his debt to anyone without the agreement of the creditor - and that is hardly likely to be forthcoming.

 

Fact 3 - There are many solicitors firms around that will take on cases where an Agreement is likely to have been improperly executed and may be unenforceable. Providing these companies hold a Consumer Credit Licence, and are prperly regulated by the Law Society, then you have a sporting chance of getting proper legal advice and help.

[cupcake68]

I am fairly new to this site and have been trying really hard to get my head around all the information I have learnt but today I have taken a real beating and at this moment in time I cannot see the wood for the trees!

 

We are in serious credit card debt and have a 2nd charge on our home with a sub prime lender.

 

We (being myself, my partner and my father) have several properties between us and if we could sell everything today would be able to pay everyone off with a little (not much) left.

 

We have 2 young children who after a very bad experience at local school were taken out last year and have been home educated since (therefore terrified of them getting upset by phone calls and knocks at the door).

 

Having been trying to remortgage several properties since September (no luck with any!) we have sold everything we can to keep making the minimum payments on credit cards.

 

We thought we were virtually there with Abbey. They started a remortgage application for us in January and we were told if we could prove earnings they would be happy to lend. That was 4 weeks ago and they have now, today decided they cannot!

 

So now we are stuck with sub prime lender (12.1%) whose small print is scaring me rigid. i.e as soon as we come to an agreement with a creditor they have the right to sell our home!

 

Having learnt what I have on here in the last couple of weeks we intended to CCA all our credit card co's (approx 20 between us) but didn't want to do that until the remortgage was through.

 

What should we do now? We do not want to loose our home and I just don't know what we should do first.

 

I have been trying to identify where we stand with the sub prime loan (another thread) but it appears it is unregulated therefore we have no protection from their actions.

 

Should we just start CCA ing all creditors?

 

I feel like I want to run away with my kids and hide in a hole! What upsets me most is we are only just getting them back on track after the terrible experiences they endured last year, I don't want to move them away and lose all the friends they have around here!

 

Sorry if this is all over the place but my mind won't think straight any more!