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CCA unenforceable, in dispute - What next?


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I have read lots of posts about people who have sent letters, found their CCA to be unenforceable, and who are now in dispute with their Bank/Lender. What I don't seem to be able to find is what happens next for these people. Does the situation just remain in limbo until the debtor offers to start paying again or the creditor makes an offer for the debtor to clear the debt?


The reason I ask is I am up to my eyeballs with £40k of cc/loan debts and won't be able to afford to pay the minimum repayments for much longer as some of the banks I'm in debt to deem to think they can rebuild their balance sheets solely off my back and have hiked up the interest to the point where the minimum payment no longer covers the interest (BoS). Others are more fair but it isn't sustainable.


The reason I didn't get into this mess sooner is that I have always got a better paid job just at the right time which meant I could keep up with the repayments and my lifestyle (which isn't excessive, just out of kilter considering my "obligations"). I have been in debt since practically since I left school and I'm now 35. I am living at home with my parents so that's why I been able to cope with the debt level I have as I have few overheads (mortgage/rent etc.).


I would start a DMP but am unsure if I could stand living on absolute peanuts for the 3-4 years it would take to pay off my debts. My 12-year old, 100,000+ mile car won't last much longer and if I'm on a DMP I won't be able to afford to replace it.


I was thinking of moving all my banking to a neutral bank, sending off for my CCA's (does this work for personal loans too?) and hopefully if some are unenforceable this would give me some breathing space to start paying off the other loans/overdraft/cc's etc. but I need to know what happens after I put any accounts into dispute.


The other problem I have with all this is both of my parents would flip out if they found out how much debt I was in, they wouldn't be able to understand it. Putting accounts into dispute would definately mean they'd smell a rat as I'm sure the banks would be on the phone every 5 minutes trying to get me to pay up?


Any advice on what I should be doing would be appreciated.





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