Information Overload :(

[mm71]

Hello all

 

wow! There is so much information here that it is so hard to take it all in. I'm amazed at the good advice and genuine concern that permeates this forum.

 

Here's my story...

 

We bank with HSBC (joint) and we're up the creek money-wise.

 

For a long time, we have relied on an overdraft and an unoffial extended overdraft the HSBC withdrew, bouncing our mortgage and more recently council tax.

 

We had acknowledged a year ago that we were in schtuk and took small steps to make some headway. However, the bank and CC companies aren't playing along, causing some worrying times. We're now at the point where we are spoiling for a fight and want to start claiming back charges etc

 

Our main targets will be HSBC for the account charges and CC charges, along with Egg, Capital One and Barclaycard.

 

I take it that my first steps for all of these is to contact them for detials of CCA and bank statements using the template letters available here?

 

We really need to start the ball rolling before things get depserate

[MandM]

Hi mm71, and welcome to CAG

 

Hello all

 

wow! There is so much information here that it is so hard to take it all in. I'm amazed at the good advice and genuine concern that permeates this forum.

 

Here's my story...

 

We bank with HSBC (joint) and we're up the creek money-wise. Are you currently paying reduced payments or have you ceased paying anyone?

 

For a long time, we have relied on an overdraft and an unoffial extended overdraft the HSBC withdrew, bouncing our mortgage and more recently council tax. Need to make sure that this doesn't happen again!!!

 

We had acknowledged a year ago that we were in schtuk and took small steps to make some headway. However, the bank and CC companies aren't playing along, causing some worrying times. We're now at the point where we are spoiling for a fight and want to start claiming back charges etc What steps? How are they 'not playing along'

 

Our main targets will be HSBC for the account charges and CC charges, along with Egg, Capital One and Barclaycard. Start a new thread for each one as and when you're underway.

 

I take it that my first steps for all of these is to contact them for detials of CCA and bank statements using the template letters available here?

 

We really need to start the ball rolling before things get depserate

 

So, where are you up to? have you completed a full I & E so you know what you have left to pay the non-essentials? Mortgage, C/Tax, food, utilities, work travel etc are ALL essentials!!!! Your credit card debts and loans are NOT.

 

I'm not suggesting for one moment that you stop paying anyone just for the sake of avoidance, but you need to establish what your own situation is and adjust to survive.

 

I worked out minimum payments for all about a year and a half ago - I've stopped paying many for various reasons - some I still pay - but they only get a share of what is left AFTER priority debts are paid first.

 

If you're going to fight these over charges or PPI then yes, CCA to each and SAR to get hold of all of your data info which should flush out charges and the like.

 

M

[mm71]

Hi mm71, and welcome to CAG

 

So, where are you up to? have you completed a full I & E so you know what you have left to pay the non-essentials? Mortgage, C/Tax, food, utilities, work travel etc are ALL essentials!!!! Your credit card debts and loans are NOT.

 

I'm not suggesting for one moment that you stop paying anyone just for the sake of avoidance, but you need to establish what your own situation is and adjust to survive.

 

I worked out minimum payments for all about a year and a half ago - I've stopped paying many for various reasons - some I still pay - but they only get a share of what is left AFTER priority debts are paid first.

 

If you're going to fight these over charges or PPI then yes, CCA to each and SAR to get hold of all of your data info which should flush out charges and the like.

 

M

Thanks for the quick reply.

 

We did fill out the I & E sheets from the cccs about a year ago and extnded our mortgage term. The big mistake we made was to only contact the higer rate CCs and keep the lower rates as they were in the hope of making some headway.

 

Now, we intend to contact them all and try to get the rates sorted. In the meantime, we'll pursue getting charges back and whether any of the cards are unenforceable.

 

Failing that, IVA...

 

Annoying situation to be in as we know we are to blame (mostly) and I wanted to clear the debts, rathe rthan dodging them. However, my standpoint has changed somehwat seeing how the banks and CC companies react when the chips are down

[MandM]

OK, Well the starting point will IMO be to re-do that I&E.

 

I know how you're feeling having done this myself - my own opinion is to take the bull by the horns as it were and put all of your debts into one big pot. I'm 18 months further on now and only ended up in court once.

 

I wish you the very best of luck. If you start any other threads then post the links up here. Will gladly look in when i'm online as will others that have had/are having similar battles.

 

M

[mm71]

I need another few posts before I can post links

 

I did start one in the Barclaycard forum

[MandM]

I need another few posts before I can post links

 

I did start one in the Barclaycard forum

 

Not to worry. If you need a helping hand just post up and someone will always assist

 

M

[rdm2006]

Sounds to me like your credit rating is already shot anyway so - if it aint essential then take a payment break.

 

Get yourself sorted with the essentials, if there is money left after that - then revisit the payment break to see if you can pay a little

 

then rinse and repeat so to speak 8)

[mm71]

A round of leters to creditors offering a reduced payment amount and asking for a freeze on interest is the next step.

 

After 10 phone calls form Indian call centres on behalf of Citicards yesterday, I don't know if we have the strength to battle on so many fronts

[mm71]

MandM: sorry, I didn't notice the red questions you posed

 

In answer to those:

Are you currently paying reduced payments or have you ceased paying anyone?

Reduced payments to Egg and HSBC, but we kept 2 others as they were due to the low APR. So far, we haven't ceased to pay anyone

 

Need to make sure that this doesn't happen again!!!

Tell me about it! Nationwide were great and just added back on over a year which helped us a lot

 

What steps? How are they 'not playing along'

Transferring balances to low APR (life of balance) cards, contacting the higher APR cards to enter into payment terms and at the start of each month, moving the mortgage DD to the tsart of each month, getting out the cash to cover petrol & food. By not playing along, I'm referring to Barclaycard's increasing of the APR and JSBC pulling the overdraft extension even after we showed them how we were tackling the debts and making progress.

 

It is so frustrating now that it feels like a lot of the hard work is being undone as we have made good inroads into our debts and were looking at 5 years(ish) before we were clear of the CC debts and overdraft

[MandM]

Well, you're doing all the right things. Good advice from RDM in my opinion, your file is trashed so it may be time to bite the bullet and get control of all of it.

 

Link to some letters that may help you (I find this a good starting point) >>> http://www.consumeractiongroup.co.uk/forum/showthread.php?20758-Creditors-and-DCAs-Letter-Templates-amp-Budget-Planner

 

Personally, I preferred the I & E form on the National Debtline site.

 

M

[mm71]

ARGHHHHHHHHH!

 

Just got off the phone to India and for the first time ever, I told a phone-monkey to "f*ck off". They couldn't help as the security on the account was locked and all I could do was either wait for a postal pack to be sent out or call in to the branch...at 5.30 on a Friday???? This on the same day as a letter telling us we will be charged £50 for them bouncing 2 DDs for a total of £100

[mm71]

As a quick update, I have just been on the phone to HSBC Money Management team. The guy was very nice, but ultimately, no help. In a nutshell, we don't have enough disposable income to qualify for help???

 

If we had more disposable income, would we need help

 

I did wonder why he kept finding things to add to the CCCS budget planner sheet we had already filled in; now I know why!

[johnnymitch]

Tell them you'd have more disposable income if they didn't keep hammering you with stupid charges ..........

[mm71]

Tell them you'd have more disposable income if they didn't keep hammering you with stupid charges ..........

 

Exactly what I told them! It is ludicrous how their logic works.

 

I spoke to my branch today and they just referred me back to the CCCS or CAB as I had already spoken to their telephone people.

 

They even said that they were powerless to reverse the charges too! I'm incredulous...

 

On a lighter note, Citicard were only too happy to switch me to a 0% 5-year payment plan at less than I was paying already. Surprisingly enough, HSBC still won't do the same, even though they agreed a payment that is £3 less a month than it would be if we were on the payment plan

[mm71]

Well, HSBC really are a useless bunch. I phoned them today, only to be told that they wouldn't stop the charges as they were legally able to add them due to the account T & C and even if she wanted to, she couldn't.

 

Then, I was referred back to the CCCS and CAB, yet again. She did also give me an email address for a special team who could possibly stop the charges.

 

I have emailed them, but the way I feel now, I know there is no point. They're really trying their best to scupper our attempts to get out of debt