Taking out credit - then getting too ill to pay it off

[Linda1001]

Hi there, any comments or help with thinking about this situation - which any of us could face (and I did). In 03/04 I became really ill with a physical condition and couldn't earn but thought I'd get better. Also was a bit nuts with pain so not thinking straight and not really economising from good standard of living I had before. I was not thinking about budgeting but was trying to keep the family going (I'm a single mum) and also paying for treatments to get me well. Also my ex chose that time to cut his payments. Cue credit cards and overdraft suppliers who lent me - I can see now in the cool light of day - reckless amounts and all very counter to OFT guidelines. Anyway I didn't get better and am now registered disabled and incurably sick and do work a bit but often can't and anyway there's not much work out there (I'm an ex-journo). But I have also been diagnosed with depression - much of it caused by debt - there's a surprise!

 

I think that this kind of modifying life event should be taken into account. The banks don't. They think they should take my house! I've looked at the OFT guidelines on lending and it is clear that none of them followed it to see if the lending was of any benefit to me - rather than to them accruing interest payments. I have two overdrafts - one of which I'm fighting about actively (harassment and other counter claims) the other I daresay I will have to when they wake up. None of the card people bar Mint have been able to show a credit agreement thus far. But even this I can see from looking at that agreement that they've not asked me proper questions: ie on that money and with those two cards already what is your mortgage and how many dependents do you have? They've only looked at what limit I could legally go up to to get what they can - no thought of the benefit to me.

 

Any thoughts, anyone, on a case to make that it would be better for them to settle with tiny full and finals from a Disability Living Allowance backpayment than have the courts look at the effect of reckless lending has had on my health. I can say that stress made me more ill of course. But is there any legislation or codes or guidelines etc to help. Mint has offered a fiver a month for the next million years but I want to get free of them as they do just suddenly sell to ghasly DCAs that then want your home and everything and it's just a stressor that doesn't help my health. I want tobe free - not just hope they'll be 'sympathetic'.

 

Personally I think they play a high risk game with high returns - if some people fall by the wayside through no fault of their own, I reckon they should wipe their mouths - they don't, they strip the body! So if anyone knows of quotable legislation, codes and guides or ideas so that I can finish them up rather than play for time - please let me know! Best, Linda

[angel_1]

hiya linda

 

just come across your thread, i totally can relate to what you saying,

 

the position you now find yourself in is appalling and yes i agree the banks really dont care but you mention you have started to request the credit agreements but only mint have supplied, have you done a thread for each of your creditors and then we can try and help on each one for you

 

im not sure how government bodies can help you , they are paying your disability allowance i take it? have you tried nationaldebtline site, i referred to it in my early days and found them very helpful on the phone too

 

im sure others will come along today to give you more info, have subbed to your thread and will look in later

 

its a long drawn out battle even with the challenge of a legal request of a fully executed agreement which is our right, and im finding it almost impossible to keep calm about it all ,

 

all we have to do is learn about our rights and continue with our fights

 

good luck and keep positive

 

laters angel x

[Linda1001]

Thanks for that support, angel 1 - and the truecall thing is a good tip! Yes, I get DLA etc - not enough to go around all the creditors alas... This site has been amazing though and I hope other vulnerable people find out about it and get to know the help that is at hand - I've heard of too many who have been bankrupted and made thoroughly miserable because they didn't know what recourses were available. Just reading other's tips and the help I've had personally so far is turning my life around. Thank god for the power of the internet and the kindness of strangers... Best, Linda