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Collect Direct (UK) [barclays stockbroker debt] Court Action Warning


Braveheart12
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the letter you posted is DEFINATELY designed to harrass and alarm

 

also i can assure you that it is a completley empty threat

 

the key word in the document is MAY.

 

if they were intending to issue proceedings they have to follow protocol

 

the first thing you need to do is confirm if the debt is valid

 

you then have three choices (in order of MY preference)

 

ignore the threat

 

write and tell them that you acknowledge their communication and will defend any action and that even if you lose the case you will only be able to offer through the court what you haev already offered

 

or finally

 

write and tell them to "put up" or "Shut up"

 

this is a very effective ploy but of course not without its risks

 

however i see it that you have nothing to lose whichever choice you make because at the end of the day the court wil only order you to pay what you have already offered

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I had come to the conclusion that the debt was valid...I have previously looked for advise on this matter but it seems that there's not many people around with experience of this type of credit facility.

 

As a complete novice I was granted access to thousands of pounds by barclays to trade with as I pleased. I was supposed to be able to pay any money back within a few days. I tried to take advantage of this, but things backfired. The markets crashed and soon after Barclays sold all my holdings (without warning) at a loss to cover my debt. Due to a shortfall I ended up owing them over a Grand and losing all my holdings that I had previously built up.

 

If there is scope to refute this debt I would certainly be interested. I know it was my own fault for taking a risk when borrowing this money, but I was not happy when they sold everything without warning. I rang them when this happened and they told me they had sent me a letter, but I did not recieve any such correspondance.

HSBC - Successfully Claimed back Charges & Interest £1265

Barclaycard Successfully Claimed back Charges & Interest £400

Abbey - Successfully Claimed back PPI £960

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