Being Made Redundant - Ideas Needed Please

[millmerman]

Being made redundant in August and just need some ideas on how best to manage the debt I have.

 

Currently I am making payments on everything and am not behind on anything, and apart from my mortgage basically I have:

 

Bank Loan - Unsecured - settlement figure around 15k

 

2 x Credit Cards - Balance of 4k on each one:

 

Yorkshire Bank update ------> http://www.consumeractiongroup.co.uk/forum/general-debt-issues/193363-yorkshire-bank-credit-card.html#post2090700

 

2 x Store Hire Purchases - settlements of £450 and £600 on each.

 

So all in all around the 25k mark.

 

Now my redundancy money is around the £13k mark and am wondering what to tackle first? Pay off credit cards as the interest is crippling me? I just don't know.

 

Something I did want to ask is - does anyone know, or have they ever wrote to the companies they have agreements to and advise they are being made redundant and they would like to clear their debt off with this redundancy so they have nothing left - but basically ask if they can say make a lump sum offer and have the rest written off?

 

I really want to start my new job off with no debt, plus by doing this I can drop my salary 'need' if I can't get the type of money I am worth, and as above wondered if anyone knows any tips on getting companies to agree on a 'lump sum' payment and have the debt 'settled' - I don’t mind if this goes against my credit score as I really have learnt my lesson on getting credit cards, loans etc….Me and the wife now live to the rule 'save to buy' rather than get on the never, never.

 

Any advise, tips, links would be great please.

 

Many thanks

Edited April 7, 2009 by millmerman
Adding Yorkshire Bank Credit Card Link

[cerberusalert]

You could request a CCA from your creditors first to see whether the agreements are enforceable & then take it from there.

[millmerman]

Many thanks for that cerberusalert, to clarify I am to write to each creditor and ask them for their CCA?

 

I will start searching for a letter template, do you know if there is a fee to pay?

 

Also, does it all depend on the company and when I took the agreement/credit card out to the 'next step' for myself?

[cerberusalert]

Send the letter below to each of your creditors. Include a postal order for £1 and post recorded delivery, they have 12+2 days to respond to your request;

 

Dear Sir/Madam

 

Re:- Account No: XXXXXXXX/Your Reference Number: XXXXXXX

 

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

 

Yours faithfully **Edit to suit**

 

(Print do not sign signature)

[cerberusalert]

When you receive your replies, if you scan them remove any identifying details then post them in a new thread for each creditor, we'll be able to advise you from there.

[millmerman]

Again - thank you very much - will crack on with these over the next few days.

 

Do you mind me asking you for advice as and when I get these letters back.

[millmerman]

You read my mind!!!!!!

 

THANK YOU.

[millmerman]

Ok letters sent today - would it be fair to leave it until the 10th of April before I post on here next in regards what I do if I have heard nothing?

[cerberusalert]

If you haven't heard within the 12+2 days you can send the 'In Dispute' letter #16 The Consumer Forums - Debt collectors and withold any further payments until they comply with your request.

[moggieb]

I take it you have no PPI's on any of your committments? Bearing in mind you might have paid or are paying them without realising?

[millmerman]

PPI's? (Payment Protection Insurance?)

 

No - turned these down on everyone of them.

 

Thanks both for replies and advice.

[millmerman]

Had a letter back from the Yorkshire Bank returning my postal order saying they do not need the £1 for the request, and have advised they will be 'back in touch with me' - How long do I give them to 'get back in touch' with me please? - This was my bank loan.

 

The Credit Card - With Yorkshire Bank have sent me my CCA and I will scan this and start a new thread off tonight. Must say its shocking and you can hardly read anything other than the hand written bits and bobs - Was signed by me in 2002 - like I said I will scan it and see what people think.

 

Many thanks for all the help so far peeps.

[creditcardmug]

Hi, my thoughts at this stage, reduce the loan to under 5k, pay off the HP, leave the credit cards till last, (dont use them anymore), who is the other card with? how old?

[millmerman]

Have updated inital post with link to my Yorkshire Bank CC response.

 

creditcardmug - my other cc is with Abby, and I applied online (dont know if this makes any diff). And is maybe 2 years old? Not 100% sure.

[creditcardmug]

The 2 year old online abbey one is probably enforceable IMO

[millmerman]

Only Yorkshire Bank have got back to me - 1 with the cca i asked for - see link in 1st post, and a letter saying i didnt need to send a pound for my cca and sent me it back.

 

All others have not been in touch, going to leave it until Tuesday next week -see if anything comes from Easter post.

 

If nothing, what would you suggest my next steps are please?

 

Many thanks in advance.

 

Response 9 is the letter i need - thanks!

Edited April 10, 2009 by millmerman
Being a muppet and forgetting what I had been told! Sorry all.

[creditcardmug]

If no reply after 14 days, send this,

 

 

I DO NOT AKNOWLEDGE ANY DEBT TO YOUR COMPANY

 

 

 

Re: =

 

Dear Sir/Madam

 

You have failed to respond to my legal request to supply me a true copy of the original Consumer Credit Agreement for the above account.

 

On the DATE I wrote to you requesting a copy of the credit agreement and other information under the Consumer Credit Act 1974 (Sections 77-79).

 

On DATE a member of your staff signed for delivery of my written request and I have an electronic proof of delivery showing their signature and the date.

 

To date you have failed to comply with these requests in any way, whether by confirmation of receipt of the request or by supplying the requested documents.

These documents I requested should be readily available as proof of your legal right to collect this account under the Consumer Credit Act 1974.

 

In my letter of the DATE I made a formal request for a copy of the signed, executed credit agreement for the above account under section 77(1) of the Consumer Credit Act 1974. In addition a full statement of this account should have been sent to me detailing all debits and credits to the account.

 

Furthermore

You are aware that the Consumer Credit Act allows 12 working days for a request for a true copy of a credit agreement to be carried out before you enter into a default situation.

 

 

 

This limit has expired.

 

As you are no doubt aware section 77(4) states:

 

If the creditor fails to comply with Subsection (1)

 

(a) He is not entitled, while the default continues, to enforce the agreement.

 

Therefore this account has become unenforceable at law.

 

As you have failed to comply with a lawful request for a true, signed copy of the said agreement and other relevant documents mentioned in it, Failed to send a full statement of the account and Failed to provide any of the documentation requested.

 

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

 

Furthermore I shall counterclaim that any such action constitutes unlawful harassment.

 

Please note you may also consider this letter as a statutory notice under section 10 of the Data Protection Act to cease processing any data in relation to this account with immediate effect.

 

This means you must remove all information regarding this account from your own internal records and from my records with any credit reference agencies.

 

Should you refuse to comply, you must within 21 days provide me with a detailed breakdown of your reasoning behind continuing to process my data.

 

It is not sufficient to simply state that you have a ‘legal right’; You must outline your reasoning in this matter and state upon which legislation this reasoning depends.

 

Should you not respond within 21 days I expect that this means you agree to remove all such data.

Furthermore you should be aware that a creditor is not permitted to take ANY

Action against an account whilst it remains in dispute.

 

The lack of a credit agreement is a very clear dispute and as such the following applies.

 

* You may not demand any payment on the account, nor am I obliged to offer any payment to you.

* You may not add further interest or any charges to the account.

* You may not pass the account to a third party.

* You may not register any information in respect of the account with any credit reference agency.

* You may not issue a default notice related to the account.

 

I will be reporting your actions to any such regulatory authorities as I see fit.

 

Yours Sincerely