The Vultures Are Hovering

[dive1082]

Hi Guy's,

 

I have just been made redundant and whilst I have mortgage protection I did not take it out for my cc's and other loans and HP.

 

I have contacted my cc companies and most were sympathetic but they obviously want their money. Can anyone advise me how I can get through this as I am 2 months behind payments now and getting charged overdue payment charges.

 

Also, Amex has sold my debt already to Newman DCA and they are pestering me for full payment plus 238.00 "referal fee".

 

Please help as I am going under fast....

[postggj]

238 referal fee

 

they can bog off

 

referal for what may i ask

 

 

to begin with, ask each one of your creditors for a payment break or to ask if a token payment can be made for a few months

 

ask if they can hold interest and charges also for a few monthsl

[ScarletPimpernel]

It's unlikely that Amex have sold the debt; Newman will be acting on their behalf. Amex's 'file referral fees' are nonsense, and wholly unenforceable; however, they provide excellent grounds for dispute.

[lilly white]

amex

 

how old

 

Any charges

 

Any ppi

 

Agreed SP post newmans will only be acting on behalf

[banker_rhymes_with]

Hello Dive1082!

 

Please help as I am going under fast....

Right, start with a blank page, and list out the priority Debts first.

 

Then cross off anything that is not really a priority.

 

You should be left with:

 

Mortgage

Council Tax

Electricity

Water

Food

Key Family (i.e. kids)

Telephone (possibly)

 

That is it, work out how to pay them, and forget the rest for now. If you don't pay the above, you will have real problems and pretty soon you may have no home to live in. Always pay the key debts.

 

Now start dumping absolutely everything else. Cancel every insurance, every subscription, every membership, you name it, get rid of it.

 

If you have any money left over after that, then you can look at adding back 2nd level key debts, such as:

 

Telephone/Mobile

Car Insurance/Tax

TV Licence

Beer (one night a week or you may well go mad otherwise)!

 

Shop on a cash budget, and stop using all Credit Cards. Throw them away. Buy only what you have the Cash to buy it with. This will become a habit of a lifetime if you get past this.

 

Then start looking for employment, because that is where the main solution will lie. Don't go down in flames while looking for work, as you could have a long search in this recession. Hence the above crash stop on spending, and the need to get a handle on the key things right now. Tomorrow is too late.

 

Next step is to deal with all of the unsecured creditors, and that's where CAG comes in.

 

Draw up a list, and then people can help you to work out the best strategy to get through this. They are not the priority, but they will hassle you to try and make you think they are.

 

But all the really dangerous Creditors (Mortgage, Council Tax etc) will stay very quiet, and will not kick up a fuss. They don't need to, because they already have real power and they will use it. The ones that make the most fuss are likely to be the ones that you do not need to worry about, for now...such as Credit Cards, Loans, HP etc. Make them wait because you have far more important bills that must be paid first. Don't equate who makes the most noise with who needs to be paid first!

 

BTW, Amex probably still own the Debt, all they have done is instruct Newmans DCA to hassle you. Hop over to the Amex Forum, to get a handle on how Amex and Newmans DCA operate:

 

Amex - The Consumer Forums

 

Good luck with it all.

 

Cheers,

BRW

Edited June 29, 2009 by banker_rhymes_with
Clarity

[Enron]

Especially as such a referal fee is against OFT guidelines.

 

But hey, thats Newman for you, trying to exploit people at times like this.

[sleepingdog]

Hi dive 1082 , I too was made redundant long before finding CAG .Due to the lies and pressures applied by both OCs and DCAs I almost lost my home, you have already been given good advice ,BRWs advice seems really good ,do try to pay priority bills first and leave the unsecured lending until last. Remember that most of the threats that DCAs use will never be carried out , as you get to grips with your creditors you may even begin to enjoy the postman bringing new DCAs to defeat as I now do. Good luck for the future

sleepingdog

[diddydicky]

and a good idea to get some s78 requests off too

[dive1082]

Hi all,

 

Many thanks for all the support and advice. Someone mentioned sending s78's off to the companies. Can anyone tell me what these are?

[Fred Bassett]

Dive,

 

When it comes to budgetting and sorting out your priority debts, this may help: http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/157162-income-expenditure-budgetting-spreadsheet.html

 

It's based around the way the CCCS work. Please feel free to ask any questions.

 

Regards.

 

Fred

[cashins]

Section 78, Consumer credit Act 1974

 

This fellah

 

 

 

1 High Street,

Newtown,

Kent

R21 4RH

 

 

June 28, 2006

 

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Dear Sir/Madam

 

Re:− Account/Reference Number 4563210025897412

 

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.

 

We look forward to hearing from you.

 

Yours faithfully

Mr A N Other

 

 

Send it to Newmans recorded or special devivery along with a £1 postal order.

 

Print your name, do not sign the letter.

 

You are asking for a copy of the original agreement that you signed. They have 12 + 2 working days to provide it. When you get it back, post it up, (remove personal details etc.)

 

You are making them prove they have any right to collect this debt, for starters.

 

David

 

PS Send the same to whoever else is shouting as well.

[dive1082]

Great! many thanks for the help. I will get it sorted out today and let you know what reply I get...

 

 

Section 78, Consumer credit Act 1974

 

This fellah

 

 

 

1 High Street,

Newtown,

Kent

R21 4RH

 

 

June 28, 2006

 

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Dear Sir/Madam

 

Re:− Account/Reference Number 4563210025897412

 

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.

 

We look forward to hearing from you.

 

Yours faithfully

Mr A N Other

 

 

Send it to Newmans recorded or special devivery along with a £1 postal order.

 

Print your name, do not sign the letter.

 

You are asking for a copy of the original agreement that you signed. They have 12 + 2 working days to provide it. When you get it back, post it up, (remove personal details etc.)

 

You are making them prove they have any right to collect this debt, for starters.

 

David

 

PS Send the same to whoever else is shouting as well.