Bryan Carter chasing old EGG credit Card Debt

[gh2008]

ok the empire strikes back

i cca d egg they sent me a signed documment now carter has sent one to me

thanks for any assistance that can be given

im on JSA so i dont have any money my house is in negative equity so theres no money in bankrupting me i wonder exactly what they can do ?

ill upload the rest of the docs in a while

 

Ok, found the answer - I would *seriously* consider bankruptcy - it's not as awful as the DCAs make out, I haven't gone that route but 3 of my friends have and they are now getting back on their feet having started afresh whilst I'm still fighting DCAs and creditors.

 

It's only for 1 year then the slate's clean and you get your life back. If you're on JSA then you won't pay anything week to week and after a year it's all gone.

 

Might be worth getting some advice.

[seklof]

IMHO CAB will just work out how best to pay them. They will not challenge validity.

 

IME Egg will not accept token repayments, they will go for a quick result and then try for a charging order.

 

ISTR you've got a fair amount of unsecured debt - do you own your own home? if so is there much equity in it?

 

It's obviously up to you whether to fight it out or not. You get to the point where you have very little to lose ......

 

 

i do own a home yes and i have a mortgage

 

i have considered belly up

 

its not a good prospect but is an option - second charges against my property - i dont dispute some debts are owed its just how they can be repaid and once i have got these debts in order i can get back to work

 

you say you are fighting as well ?

[MandM]

Some light reading

http://www.consumeractiongroup.co.uk/forum/legal-issues/188093-egg-credit-agreements-what.html

 

gh is quite correct, and 'yes' he's fighting as I am too. I have my own reasons why bankruptcy was not an option (which I can't put on here but will happily disclose by PM if you're interested), but sometimes it can be a quicker and easier option.

 

You don't lose your house nowadays either so not always as bad as it seems. And it can get rid of the lot.

[seklof]

id would be very interested in that M - please PM me

 

how does it work that i dont lose my house? id be interested in hearing your point M

 

its debt that of course i have thought yeah go bankcrupt however im constantly reviewing the situation

 

i dont think iv got much to lose

 

cheers

[gh2008]

Following a dramatic change in my life a few years ago, I also thoroughly explored BR and again have my own reasons for not going down that route (lots to do with my self employment - you can't be a Director of a Ltd Co)

 

If it wasn't for that I would have gone for it 100% and by now I would have been getting back on my feet for the last 18 months rather than having 1 CCJ and a half a dozen creditors and 5 figure sum of mostly unenforceable debt hanging over my head for the next 4 years (till they're all statute barred or 'dealt with')

 

If there is little equity in your property then you will not have to sell. If there is some you can also arrange with the OR to sell your share at a 'discount rate' to family etc.

[seklof]

ok tell me more about being director of a company gh2008

this gets interesting - i used to run a limited company i went into liquidation then the dump for me

 

they have to bankcrupt me or i fall on my sword

 

i dont fancy faling on my sword

 

i can get the debt paid off in a few years i dont want to muck up my credit rating in the future as i can get rid of my five fugure mostly unenforceable debt as well

 

surely in my thinking , the banks get nothing if i go Bc so its not in their interests to do this to me

 

good afternoon forum

thansks lads the brain is awake

[seklof]

Following a dramatic change in my life a few years ago, I also thoroughly explored BR and again have my own reasons for not going down that route (lots to do with my self employment - you can't be a Director of a Ltd Co)

 

If it wasn't for that I would have gone for it 100% and by now I would have been getting back on my feet for the last 18 months rather than having 1 CCJ and a half a dozen creditors and 5 figure sum of mostly unenforceable debt hanging over my head for the next 4 years (till they're all statute barred or 'dealt with')

 

If there is little equity in your property then you will not have to sell. If there is some you can also arrange with the OR to sell your share at a 'discount rate' to family etc.

 

 

 

ditto

discuss

 

i cant do BC is not going to be a goer however id like to discuss these issues

 

bump

[seklof]

afternmoon guys n gals

 

thans for the thread there m it makes good reading and it looks like my agreement is the same but a second opinion would be great

 

if so do i send a template letter to BC and if so which letter would suit

 

any help greatly appreciated

 

thansk for all the info and talks its been a great help

still wonder if Bancruptcy is the best option

if i dont have any money i might as well fight

[gh2008]

I would seriously recommend seeking proper legal advice.

 

As I see it and from your PMs you could end up with the following

 

1. manage to fight them all off 1 by 1 winning every case

result 6 years of bad credit rating 6years of hassles good result all in all

 

2. lose 1 or more - creditors go for charging orders and therefore secure their judgements (with interest) against future equity in your property.

 

3. Go Bankrupt. You keep your house (if there is very little equity in it) if there is a fair amount then that can be bought by family or friends at a favourable rate. Non essential possessions are lost. Anything owned outright by another person or a Ltd company is excluded + cheap car excluded etc etc.

 

Go and get proper advice you will be able to tell then the whole situation and they will be able to give advice.

 

For info, your account, if they have proof of service of that Default Notice, would be enforced by the majority of District Judges, if you defended and lost you could face maybe £5k+ in costs.

Your only defence would be the 'Approved Limit' factor - which is bein tested in teh High Court by PT in June and teh service of the Default Notice, where basically you'd have to put them to strict proof they sent it, although if they put you on the spot and asked you whether you had received it ....... they do monitor these forums ........

[seklof]

im off to the cab tomorrow

i have researched bancruotcy before and i feel thta it may no be the way forward

 

thansk for all your help gh2008 - its been very helpful and ill keep you updated as to my progress

 

thanks again

[palomino]

You keep your house (if there is very little equity in it) if there is a fair amount then that can be bought by family or friends at a favourable rate.

 

I'm afraid the receiver will want such items sold at a current market valuation. Cheap deals for your mates is a strict no-no.

[gh2008]

Bankruptcy - What will happen to my home in bankruptcy?

 

So, in your case it could be £1

[seklof]

looking at my first case it dosent look promising although i would like to fight them

 

a bit confused as i want to take them on but it doesnt look good does it forum

[seklof]

i had the place valued last year and its in negative equity

dont think much would have change this year

[seklof]

yeah they can take charges against my home

but what if in the future i can pay the debts off

and say for instance if CAB organises paymenst so i only pay 1 pound per month then what about that option

i know i can repay theses debts but it may take another year for me to get back on my feet proper but they are payable

 

maybe you guys can help me fight em off with a dirty stick dipped in dog mess

 

bump

[impecunious]

There is hope - even with Bryan Carter!

 

I received a letter from BC last week - threatening FINAL letter before court proceedings on unpaid debt - re: Lowells who had bought it from someone else, etc. etc.

 

I wrote to BC informing him that as I already had HUGE CCJs that I was repaying at £1/month, another one wouldn't make any difference to me.

 

I was surprised, to say the least, when I received a letter almost by return saying that in light of the new information, no further action would be taken and my account would be closed. End of!!

 

Nice one BC!!

 

 

Impecunious!

[seklof]

well well well im certainy in the boat of impending ccjs - how did you go about getting £1 per month to each debtor do you have a template letter?

 

cheers imp

[impecunious]

I didn't have anything as formal as a template letter. I had to attend a hearing to obtain information last August - the CCJ was for c. £28,000 - they asked me to make an offer -- I said £1/month - they said it was "unacceptable" - I continue to make payments of £3/quarter whether they like it or not. They can't take what I haven't got and, to date, they haven't made any attempts to enforce payment.

 

The National Debtline advised me to complete one of their Income and Expenditure sheets (it allows you reasonable latitude with your spending) - then it shows you how to work out what you have left over to pay priority debts (and what they are). After priority debts come credit debts - and basically they are way down the list!

 

Once you've worked out your budget, you can then find the templates on here - I think they can be found under DCA template letters and offer whatever you can afford. Even if they ask, don't send DCAs a copy of your I&E - it's none of their business. Only YOU know how much disposable income you have each month to repay debts.

 

Hope this helps but there's always plenty other CAGgers who will offer you great advice.

 

Main thing is NOT to worry - life is far too short. Just do what you can and stick to your guns!

 

Impecunious!

[seklof]

cheers man

i just been to a CBT test - waste of time , they told me under my circumstances i should be feeling like i do

thanks a bunch

 

so imp can i ask - do you have any assets they could take?

 

did you hav anything to lose

 

thats a big wedge man, do you owe more than that - mine total 80000 all in all

[impecunious]

I don't have any tangible assets apart from my monthly salary but living alone I have high "protected earnings" and lots of outstanding debt so Attachment to Earnings order unlikely.

 

Impecunious! (Girlie!!)

[MandM]

Seklof,

 

try some of these links for dealing with general debt issues.

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/242212-boy-do-i-need.html

 

http://www.consumeractiongroup.co.uk/forum/getting-out-debt/239725-self-managed-dmp.html

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/241345-new-me2010-everyone-who.html

 

http://www.consumeractiongroup.co.uk/forum/getting-out-debt/239401-my-way-thank-you.html

 

http://www.consumeractiongroup.co.uk/forum/getting-out-debt/238124-very-worried-please-help.html

 

M

[citizenB]

seklof, in response to your pm, I am working my way through your threads:)

 

The Default notice does look ok. However, this is obviously a copy against the generic document they also sent you. Did you ever receive an original default notice from Egg ?