Where do I go from here.Please help

[SCIPIO]

Hi everybody

I have £70,000 of debt spread over 8 credit cards and 1 personal loan.Since 2008 I have had various payment plans with the credit cards and the loan was passed to a DCA who I have also had an arrangement with.

All of these cards were taken prior to 2001 and 2 were taken out in 1994.The loan dates from 2003

My circumstances were such that all I could do was make these arrangements to give me time to get back on my feet.

I now want to take control of these debts and eventually reduce the amount I owe so that a manageble F+F settlement can be offered.

To this end i have been searching through threads to gain as much information as possible.

I have sent CCAs to all my creditors and followed this up with SARs.I have used templates from CAG to do this

Some have replied.These replies include application forms without prescribed terms,reconstructed t+cs and incomplete SARs with no agreements or statements.

I have a general question.

Some of the agreements are definitely uneforceable.What should my stategy be.

 

Do I submit a claim for refund of late payment fees.

Do I not claim a refund and because the agreements are uneforceable sit back and behind the shelter of a/c in dispute,therefore you cannot have any payment and go through the process(possible court claims etc) until an offer is hopefully accepted by the creditor.

Do I claim a refund and use the uneforceability of the agreement and if a refund of charges occurs then make an offer on the amount outstanding.

 

 

 

I have most of my statements for all of the cards(1 missing here and there).So far the SARs I have received have not included any statements or details of transactions.

 

If I do go for charges do I use compound or statutory interest.

 

I am not worried about defaults or credit ratings. I know this is going to be a long battle. My aim is to reduce my debt to an affordable level and pay all my creditors and of course never become enslaved again.

 

Thanks for any advice you can give.

[BankFodder]

As for the recovery of charges, read the articles on the front pages of this website. You will see that charges are only recoverable in particular circumstances.

You can challenge the enforceability of agreements if the CA requirements aren't met.

 

Do you have any assets? If you don't own a house then mayb with debts as large as yours, the sanest way is to consider bankruptcy - as long as you really stick to your intention not to acquire this level of debt again.

Frankly even if you do own your own property, with this level of problem, bankruptcy might still be the best clean-break solution

[SCIPIO]

Hi Bankfodder

Thanks for your reply.Can I pm you with some confidential info.I have tried but your message centre is full.

Edited August 19, 2010 by SCIPIO

[citizenB]

Thread moved to General Debt Issues.

[car2403]

Hi Bankfodder

Thanks for your reply.Can I pm you with some confidential info.I have tried but your message centre is full.

 

You could try.

 

bankfodder @ consumeractiongroup.co.uk (remove the spaces)

[sir_gilmour]

Hi

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.