Cap1 & CCA return

[alisindebt]

Thank you for your various replies to my post above.

 

Just to set the record straight, I never said nor implied that it is people's fault that they have bad credit ratings.

 

The point that I was eluding to, in answer to a previous thread, where a person was saying that he was not worried that his credit file was trashed and he was not concerned because he wanted no more credit, was that it is not the end of the world if your file is trashed.

 

The banks and DCAs and CRAs control the credit files of everyone, so the system is rotten to the core.

 

Before jumping in with assumptions that I am being insensitive about this issue, if you care to look at my numerous threads on here, you will see that I have fought for several years before winning 10500 pounds against MBNA/Abbey/Lowell's and 4900 pounds aginst CapQuest using advise from this site.

 

Accordingly, I made a donation to CAG as a thank you and to try and help keep the site going for others.

 

However, both Lowells and CapQuest are, at the moment, still filing defaults against me on my credit file, which I am attempting to get removed, because I don't want a false record against my name.

 

Perhaps I did not make the point clear enough, is that going abroad to work has been great, no thanks to the UK banks, and I have no plans for a mortgage or credit card abroad. The same would apply if I came back to the UK.

 

I simply use a chargecard if I need to buy things on the internet or where cash is inappropriate.

 

Therefore, I go back to the point of my original post, and the one that I was replying to, there is life after debt. Life can get better and you do not have to necessarily have credit. I appreciate that some people have posted saying that they have to have credit, but as somebody who owed out about twenty thousand pounds and has managed to write it off, I am not going to go down that route again.

 

Therefore, as you can see, I am not an imposter on this site, nor am I belittling anyone else's circumstances and I am just posting a particular perspective that may help some people see their debt in a new light.

 

Again, if you check over my various threads and posts as I struggled and eventually won against the DCAs, many people were inspired by my persistence and success.

 

I am simply explaining to those who want to listen, how I then moved forward from that point, into a new life of being credit and debt free.

[alisindebt]

To further clarify, this is an extract from the thread that I originally replied to:

 

"That the prospect of a bad credit file being the main worry with a lot of people - some for good reason who may need a mortgage - I took the view that it was having a very good rating that got me in this position and therefore having a bad one would not be a problem. In fact its almost a warning to DCA's and creditors theres no point in doing anything to this guy - if we make him bankrupt he owes so much no one will get anything ! "

[diddydicky]

To further clarify, this is an extract from the thread that I originally replied to:

 

"That the prospect of a bad credit file being the main worry with a lot of people - some for good reason who may need a mortgage - I took the view that it was having a very good rating that got me in this position and therefore having a bad one would not be a problem. In fact its almost a warning to DCA's and creditors theres no point in doing anything to this guy - if we make him bankrupt he owes so much no one will get anything ! "

 

i understood what you meant, and i would say that a lot of people who THINK they NEED credit actually don't - they have just gotten used to life with it and can't bear the thought of life without it

 

another poster above was right when he said the banks will return to the old ways of lending- and that is right

 

quite simply, whether we like it or not - we have to get back to a society where, in the main, if we cannot afford it- we cannot have it and should make do and mend or learn to save for it

 

a hard lesson for us all - but we may as well learn it!! the days of "live now and pay later" i suspect are gone for many a year

[FlyboyAgain]

I can't but help think that, with the kicking the have got recently, that banks will bear a lot of people no little enmity for many a year, me included!

[captain2]

Hi -i agree a clean credit rating is essential for modern life. In my own case I have had too good a rating - hence my current position. I have a house with a mortgage that i'm happy to stay in if i can carry on paying it - i'm lucky !

 

But I don't know of any other industry which enjoys the unfair protection of a credit file for all lenders to see which once blighted can cause such long term effects and misery - in my business if someone doesn't pay all I can do is take them to court - yes they may get a CCJ if they don't pay but in the meantime you cant default them like CRA's. Its unfair when Banks can be given a tax payers bail out ! Its a national scandal that card issuers who have raised interest by 300 per cent causing borrowers to default on more reasonable lenders. There should also be special provisions and debt forgiveness in hardship for borrowers to get back on their feet without an adverse defaulted history.

[captain2]

Hi Ali - you seem to have had some of my experiences there is life after debt I know because i've been bankrupt and frankly never happier ! But that experience I could without again as where I am now I would like to hang onto and I now have a partner. I'm in a situation now where my once substantial assets have devalued greatly and even if i could sell anything it would create unsecured debt with shortfalls on the property values. I owe £86 k on cards and have a ship load of mortgages and some other loans as I was a small property developer. I am only now, after years of self indulgence and being a credit junky, weaning myself off it its hard but its also good as you can get back in touch with some basic pleasures in life. At times it also gets for brief moments or half days pretty grinding and depressing and then I pull out of it. Coming on here is definitely a help.

 

By the way in a low moment today I was talking to the FOS dept.and they were saying in cases of hardship the ombudsman is now tackling unfair interest and if any creditor issues court proceedings in the meantime they would speak to the court to ask for a stay until they complete their investigation which takes 6 - 9 months. So if you want any extra time and you can still try the court option later thats a good ruse apparently they have just started this in the past 2 months. Also its a foolish creditor who ignores the FOS decisions. He cant put rates up but sounded to me as though there is a very real chance he would reduce them. So the trick is to anyone who's got aggressive creditors get a case number on the phone from the FOS and write back quoting that and then quickly asap get the file to them.

[alisindebt]

Yes, that's exactly what I was leaning towards.

 

In fact, there have been several posts where people were apparently angry that I said there is an alternative lifestyle without credit, the lifestyle that I now lead.

 

For example, I bought some jeans this week, cash, of course! no statements, no minimum payments, no interest. Previously, I would have put them on a card and then when i got into difficulty, the cost of the jeans would have increased monthly as interest and default charges were piled on.

 

I rent and was able to make a great move in September when a remarkable apartment was reduced by 25%, as the landlord could not find anyone to rent it during the economic downturn at the previous rental level. I can leave there and move "downmarket" at a month's notice if my circumstances change.

 

Above all, with no interest payments and default charges, I actually do that very strange thing that has eluded me and so many others for the last 10 years whilst the banks were schematically ripping us all off with the blessing of the politicians, it's called SAVING! I now put away money monthly, something that I have not done for over a decade.

 

So when I was saying that you don't HAVE to have have credit, this is the alternative that I was referring to, but appreciate the fact that this may not be right for everyone.

[alisindebt]

Hi Ali - you seem to have had some of my experiences there is life after debt I know because i've been bankrupt and frankly never happier ! But that experience I could without again as where I am now I would like to hang onto and I now have a partner. I'm in a situation now where my once substantial assets have devalued greatly and even if i could sell anything it would create unsecured debt with shortfalls on the property values. I owe £86 k on cards and have a ship load of mortgages and some other loans as I was a small property developer. I am only now, after years of self indulgence and being a credit junky, weaning myself off it its hard but its also good as you can get back in touch with some basic pleasures in life. At times it also gets for brief moments or half days pretty grinding and depressing and then I pull out of it. Coming on here is definitely a help.

 

By the way in a low moment today I was talking to the FOS dept.and they were saying in cases of hardship the ombudsman is now tackling unfair interest and if any creditor issues court proceedings in the meantime they would speak to the court to ask for a stay until they complete their investigation which takes 6 - 9 months. So if you want any extra time and you can still try the court option later thats a good ruse apparently they have just started this in the past 2 months. Also its a foolish creditor who ignores the FOS decisions. He cant put rates up but sounded to me as though there is a very real chance he would reduce them. So the trick is to anyone who's got aggressive creditors get a case number on the phone from the FOS and write back quoting that and then quickly asap get the file to them.

 

I fully agree with your comments about the banks being the only business able to make adverse references on a CRA file. I wrote off two debts, one because or a prior dispute with the OC and one because they had lost thee original CCA, however, they still refuse to remove my adverse credit file ratings. Just out of common decency, I am fighting to remove them! No other industry on earth could say, we have no agreement or contract with you, however, out of anger, because you wriggled out of the debt, we are going to punish you by continuing with an adverse credit rating.

[captain2]

Just to further define my comment above re the FOS - im not after trying to get just a current and future reduction in interest though that would be better than nothing.

 

My argument is that I am looking for a retrospective refund of the difference between what the BASE rate plus average margin was when signing up and the rate it should have declined to. So for every £1000 if the margin was 9.41 above base as it is was in my Mint agreement in '99 when signing up the rate per £1k per annum would be around £100, at todays BASE of 0.5 % plus margin. Thus over 6 years when rates have started to fall dramatically i'm looking at somewhere between £60 - £150 per £1k per annum

refund against the balance plus the court 8 % flat rate on the difference. So for each £1k there would be say £360 refund plus interest of round £50 - this formula could be worked out precisely by any financial institution with a computer tracking base rates since 03 (the furthest the FOS will be allowed to go back). Thus on a debt of say £10k that means there's at £4k refund at the lower rate where the interest is now nearer 30 per cent the difference in one year alone between 0.5 base and the old margin above and say 30 % then that means a refund of £200 in that year alone. So my argument is probably that the 'debt' will fall by over or even well over 50 per cent giving the lenders the returns originally signed up to and retaining the moral high ground over that of the lenders. I don't know whether this will work but it is fair and reasonable and it is not fair and reasonable to impose 200 - 300 per cent increases above base on hard core debt without the parties agreeing.

 

Where there is no enforceable debt as there is no signed agreement then perhaps the formula could reduce the debt and then pay 50 per cent of that balance - if any. All this one would hope plus a retraction of adverse ratings or an FOS explanation alongside the adverse rating in order to highlight that this lender had been guilty of unfair rate hikes. They might soon very well want to withdraw all adverse defaults etc. if that deterrent were to be considered.

[Smarterchick]

I fully agree with your comments about the banks being the only business able to make adverse references on a CRA file. I wrote off two debts, one because or a prior dispute with the OC and one because they had lost thee original CCA, however, they still refuse to remove my adverse credit file ratings. Just out of common decency, I am fighting to remove them! No other industry on earth could say, we have no agreement or contract with you, however, out of anger, because you wriggled out of the debt, we are going to punish you by continuing with an adverse credit rating.

 

I'm helping a friend with considerable debt, cca'd all of the companies (10) not one come up with an agreement since August - they don't help their cause at all and I'd encourage people to request their agreements. Some might have moral issues about trying to test these companies and I've heard it numerous times, even from friends that all one is attempting to do is get out of our obligation to pay what we owe. But if someone came to take your house when they legally had no right to do so you have every right to challenge them. The banks and finance companies have no morals and would think nothing of dumping you, your kids, your family and your lives on the street, just visit your local court on repossession days where the lists are as long as your arm the judges have 3 minutes to hear each case and throw people out (I heard that from a sitting Judge) so if we can write debt off it puts us back to a position where we can rebuild and hopefully learn from the experience then come on forum like this and encourage others to fight these institutions.

 

We (some fellow caggers) have a saying - "Keep it Simple" - get them to produce an agreement that's the first hurdle, a vast majority of agreements are not legally binding, just get them checked out and it all rolls on from there - no agreement - no debt - end of!

[alisindebt]

I'm helping a friend with considerable debt, cca'd all of the companies (10) not one come up with an agreement since August - they don't help their cause at all and I'd encourage people to request their agreements. Some might have moral issues about trying to test these companies and I've heard it numerous times, even from friends that all one is attempting to do is get out of our obligation to pay what we owe. But if someone came to take your house when they legally had no right to do so you have every right to challenge them. The banks and finance companies have no morals and would think nothing of dumping you, your kids, your family and your lives on the street, just visit your local court on repossession days where the lists are as long as your arm the judges have 3 minutes to hear each case and throw people out (I heard that from a sitting Judge) so if we can write debt off it puts us back to a position where we can rebuild and hopefully learn from the experience then come on forum like this and encourage others to fight these institutions.

 

We (some fellow caggers) have a saying - "Keep it Simple" - get them to produce an agreement that's the first hurdle, a vast majority of agreements are not legally binding, just get them checked out and it all rolls on from there - no agreement - no debt - end of!

 

I agree 100% and this is the approach that I documented on here as I went step by step though the process. As you say, in my case, all 4 CCAs not enforceable and the DCAs backed down (one had lost the original CCA), allowing me to write off around 20 000 pounds. I fully documented all of the letters here for other people to follow and also made a donation to CAG to say thanks for the help.

 

I hope that if you look over my various posts it will help you with your friend's situation. It's not so difficult or scary once you get stuck in and remember, as soon as a CCA is in dispute (and they go into dispute if they do not respond in 12=2 days, so ALL of the ones you have are now in dispute), then they cannot ask for payments, involve third parties, etc. of course, they will, which gives you further ammunition!

 

I made a recent post about the benefits of living debt and credit free and was disappointed to see at least two responses saying my post made them angry. I make no apologies for having written off a large debt. I live by cash now, i do not pay any interest payments to anyone and if I need to use plastic e.g. online buying, I use a Visa debit card.

 

Today, I am on holiday in the Philippines and I was tempted to buy several things: The new "Lost Symbol" novel by Dan Brown (13 pounds), two work shirts (65 pounds total) and some work trousers (50 pounds).

 

4 years ago, I would have piled them onto my credit cards. What is 128 pounds when you owe 20 thousand??!! Today, I had the cash to buy them, but you know what when it's cash you think differently.

 

I thought do I really want the book-it's a hard copy at the moment as it is a new release. in 6 months it will be paperback. Also, I have more then enough clothes for work, so in the end I bought nothing! I used to have around 1500 a month take home pay, of which about 1100 was going in interest payments alone!

 

So, this is the debt free/credit free lifestyle that awaits everyone once they free themselves from the burden and bondage of debt. I am sorry that this offends a few readers, but i have received many emails saying that i have been an example to help them.

 

I live abroad now and am trying to clear the final insult-the card companies still register defaults on my credit file. OK, I don't want credit any more, but neither do i want false statements against my name. I am in the process of reporting all of the people involved at the moment and updated my thread a few days ago.

 

Since your friend's situation is very similar to mine, do take the time to look through my various threads and posts and look at the letters I sent and received back, especially the letters writing off my debts! Hope it helps your friend and I hope that they will be debt free very soon! All the best.

[enoughisenough]

Agreed Smarterchick. Anyone who doubts the morality of us V the banks is more than welcome to get down to their local County Count and see the 'morality' of the banks and courts in action, lying where necessary and getting away with it in order to exact repossession.

[Smarterchick]

Agreed Smarterchick. Anyone who doubts the morality of us V the banks is more than welcome to get down to their local County Count and see the 'morality' of the banks and courts in action, lying where necessary and getting away with it in order to exact repossession.

 

Alisindebt, don't get frustrated by people who have differences of opinion. That's actually what makes this forum so good, if we all agreed with each other we wouldn't be tested as to how the other side think and EIE and Suetonious will bear testiment to that

 

Lets now keep this thread to topic if we can and make sure we keep at the Agreements, there is still so much to learn.

 

Thanks for the tips..we will overcome...

 

SC

[enoughisenough]

Apologies for having already posted this on this or a related thread. Heath v SPML judgment in the CoA due shortly before lunch. Could be interesting.

[AnimalMagic]

i think if bos denied me a loan on the grounds that i was not creditworthy i might be tempted to write and ask them if they were not being a tad hypocritical!

 

Love that! Especially as you and I are now shareholders

[AnimalMagic]

The point that I was eluding to, in answer to a previous thread, where a person was saying that he was not worried that his credit file was trashed and he was not concerned because he wanted no more credit, was that it is not the end of the world if your file is trashed.

 

It's not just credit though. I have repeatedly been refused a bank account on the basis of entries in my credit file. How do you run a business without a bank account? You can't...

[Enron]

I can agree with the benefits of living a credit free life style.

 

Previously I would purchase items that a number of months later I would consider junk, though would continue to pay interest on it for some time removing very little of the capital amount on those credit cards.

 

Essentially credit cards are like spiders webs, initially they are very useful, you think you can handle them and that they are manageable till you get to a point when you realise you are well and truely stuck and are about to be devoured by the spider.

 

During the boom years credit card companies extended peoples credit limits without question, as the more someone is in debt the more income you will receive through interest, and the more the company is theoretically worth because those debts are counted towards a banks balance sheet - so the more you get people in debt - the more valuable your company is.

 

I used to look at my grand parents strangely as they were very careful with their money, only used credit to take out the mortgage on their house which was paid off by the time I arrived. In retrospect they had it spot on, save for what you want, and you'll likely only buy what you need instead of spending money like water on junk because you have free and easy credit.

[lexis200]

I made a recent post about the benefits of living debt and credit free and was disappointed to see at least two responses saying my post made them angry. I make no apologies for having written off a large debt. I live by cash now, i do not pay any interest payments to anyone and if I need to use plastic e.g. online buying, I use a Visa debit card.

 

ali, I too live on cash and debit cards. I have no issues with that as it makes for a much less stressful life. My point was whilst you have the luxury of being able to rent a place that is obviously right for you and not needing any other type of credit-worthiness (and please don't take that the wrong way, it is not meant as a snidey comment it's just what you have said in your last couple of posts), for others, myself included, renting is a very poor second to owning a home as the rent we pay for a poky little terrace is about £200 more than we would pay on a mortgage for a half decent house in a better area.

 

No one had a go at you for writing off your debt, in fact I have on several occasions used you as an example for what can happen if you have an iron will and luck on your side. My concern is that you really don't seem to appreciate that for many many people a decent credit rating is imperitive - mortages, bank accounts etc are a necessity - and this comes through in your posts when you instantly advise non-payment if a CCA doesn't arrive after 12 days. Yes, that does work, and yes, as you did (and I have for a couple of cards) you may be lucky enough to find that they really don't have anything. However, you never point out that this course of action will inevitably lead you into a poor credit rating, and not everyone will already have a ruined rating prior to starting down the CCA road.

 

I was not remotely angry for your post, and I'm sorry if you thought that. The reason I posted was that it is just not a cut and dried situation, so posting that it's 'refreshing' to see someone say otherwise made me feel the need to respond and bring up the alternative view point.

 

I do completely agree though that if the only thing you would want/need a clean report for is to be able to use a card, then debit is the way to go and they can stuff their credit rating! When you are in this lucky situation it really is of little to no consequence, and I hope I get to that point in the not too distant future.

[vint1954]

I fully agree with your comments about the banks being the only business able to make adverse references on a CRA file. I wrote off two debts, one because or a prior dispute with the OC and one because they had lost thee original CCA, however, they still refuse to remove my adverse credit file ratings. Just out of common decency, I am fighting to remove them! No other industry on earth could say, we have no agreement or contract with you, however, out of anger, because you wriggled out of the debt, we are going to punish you by continuing with an adverse credit rating.

The great problem here is that there are no regulatory bodies willing to take them on and enforce the law that the large financial institutions flout.

 

It has to be remembered that these are acts of parliaments, with boddies set up to ensure that the laws are adhered to. Unless one of them stands up to be counted, it is unlikely that individuals will ony chip at the surface of the problem. The banks know this.

 

Time to involve the people that made the laws in the first place. Write to your MP.

[vint1954]

Just to further define my comment above re the FOS - im not after trying to get just a current and future reduction in interest though that would be better than nothing.

 

My argument is that I am looking for a retrospective refund of the difference between what the BASE rate plus average margin was when signing up and the rate it should have declined to. So for every £1000 if the margin was 9.41 above base as it is was in my Mint agreement in '99 when signing up the rate per £1k per annum would be around £100, at todays BASE of 0.5 % plus margin. Thus over 6 years when rates have started to fall dramatically i'm looking at somewhere between £60 - £150 per £1k per annum

refund against the balance plus the court 8 % flat rate on the difference. So for each £1k there would be say £360 refund plus interest of round £50 - this formula could be worked out precisely by any financial institution with a computer tracking base rates since 03 (the furthest the FOS will be allowed to go back). Thus on a debt of say £10k that means there's at £4k refund at the lower rate where the interest is now nearer 30 per cent the difference in one year alone between 0.5 base and the old margin above and say 30 % then that means a refund of £200 in that year alone. So my argument is probably that the 'debt' will fall by over or even well over 50 per cent giving the lenders the returns originally signed up to and retaining the moral high ground over that of the lenders. I don't know whether this will work but it is fair and reasonable and it is not fair and reasonable to impose 200 - 300 per cent increases above base on hard core debt without the parties agreeing.

 

Where there is no enforceable debt as there is no signed agreement then perhaps the formula could reduce the debt and then pay 50 per cent of that balance - if any. All this one would hope plus a retraction of adverse ratings or an FOS explanation alongside the adverse rating in order to highlight that this lender had been guilty of unfair rate hikes. They might soon very well want to withdraw all adverse defaults etc. if that deterrent were to be considered.

And where no signed agreement exists, or a suspect one, then the banks cannot claim to have the right to vary. A big difference to the opening interest rate of 9.9% to the massive amount now charged, especially with 8% interest added.

[alisindebt]

I can agree with the benefits of living a credit free life style.

 

Previously I would purchase items that a number of months later I would consider junk, though would continue to pay interest on it for some time removing very little of the capital amount on those credit cards.

 

Essentially credit cards are like spiders webs, initially they are very useful, you think you can handle them and that they are manageable till you get to a point when you realise you are well and truely stuck and are about to be devoured by the spider.

 

During the boom years credit card companies extended peoples credit limits without question, as the more someone is in debt the more income you will receive through interest, and the more the company is theoretically worth because those debts are counted towards a banks balance sheet - so the more you get people in debt - the more valuable your company is.

 

I used to look at my grand parents strangely as they were very careful with their money, only used credit to take out the mortgage on their house which was paid off by the time I arrived. In retrospect they had it spot on, save for what you want, and you'll likely only buy what you need instead of spending money like water on junk because you have free and easy credit.

 

Thank you, indeed for this. I used to think that I had to own a home-in fact, most of the world rent-even in Asia.

 

I had my first mortgage when I was 24 years of age and it was like, I had "become of age". Even then, I can remember thinking at the back of my mind, "my God, this is a 25 year liability, I have to pay nearly double the asking price when I pay interest over 25 years, if I fail to pay, the can reposes, this is like renting, but with additional liabilities."

 

Many people enjoyed aspiring property values, remortgaged to "release the value locked in their homes", only to fall into negative equity, both in the mid nineties and recently.

 

I used to believe that I was a second class citizen when I sold up as I could no longer afford the mortgage and debts. In France, Italy and indeed, much of Asia, where now live, renting is the norm, to rent, but try tellling that to most people in the UK.

 

This is the point that I was trying to get across, the banking and credit system in the UK has manipulated our population to believe that you have to own a house, you have to have credit. Mix that in with their lies, deception and unlawful behaviour and that is why so many of us have come here.

 

They get you into debt, record bad records about you on the CRAs.

 

I was simply saying that I have been through all of this twice. In the mid nineties, I fell in debt because of investing in a rising property market that crashed, my two business partners ran way, and I ended up 35 thousand pounds in debt, even in those days!

 

Call me an expert if you want, but I wrote off those debts, the same as the more recent ones, that I have extensively reported here. actually, i just learnt as I went along, same as I did here, and the same as I report back here to help others.

 

It isn't over yet, i am fighting the 4 banks that I won against recently, as they still continue to log adverse credit ratings against me with eh CRAs.

 

This very week, i have sent warning letters to them and Experian, and tomorrow, MPs, OFT, TS amongst others.

 

This is the same determination that you see in me when you look over my other threads here, explaining to newcomers, the sorts of action that you can take. I have not been "lucky'. I have spent untold hours looking through these threads, working out how to win, and that bis what this site is about and that is what I believe in, nurture, encourage and I ask all who read this to take the same attitude. You CAN win against all odds.

 

I was so thankful to CAG, when I wrote off my debts, I paid a donation to CAG and also took a personal vow that I would continue to fight against unlawful CRA entries, despite that fact that i live abroad and want no more credit in the UK or elsewhere for that matter.

 

My story is publisihed widely on here to help those who are suffering like I suffered for many years.

 

Truly, credit free, in my opinion, is best. But that is my opinion, and like you say at the Site Team, that was the way our grandparents lived.

 

Only time will tell who is right and who is wrong.

 

No offence meant to anyone, I am simply telling you what happened to me, how I could have easily gone bust, but refused to give in. I truly hope that this is an inspiration to the many who read this.

 

As to getting my CRA file cleared, watch this space!

[alisindebt]

Thank you for your understanding. I was simply putting forward a point of view.

 

Actually, if you follow most people on here, it starts off like this......" I am in massive debt....I don't know what to do........I spoke to my bank and they did not help, they were abusive......it's now with a DCA....."

 

I was there, I am sure many have been there, that's why we came here. For help, guidance, assistance, legal directive, moral support. In some cases, to come to terms with feeling depressed, worthless, suicidal (yes banks and DCAs, you cause this to some people, just read the threads here).

 

Eventually, debt is cured. It may be through bankruptcy, negotiation, settlements, F+F, etc. It may be that you managed to prove an unenforceable CCA.

 

It eventually finishes.

 

But what is the next step?

 

So many people here want to renew their credit rating to get......more credit.

 

There may be good reason for this, but all i ask is for anyone to stop and contemplate for a few moments.

 

If you really got stuck with all that debt in the first place (not, necessarily through fault of your own), why would you really, really want more credit?

 

You can use a Visa debit card rather than a credit card if you want to pay by plastic.

 

There are "prepaid" cards if you you want plastic without credit e.g. inertnet buying,etc.

 

I went through the cycle twice, yes, I was in debt in the mid nineties , managed to get it written off without any bad credit or bankruptcy, then, i am ashamed to say, i got into the same situation in the last few years.

 

For the second time,, i am not allowing it to happen again so i no longer use credit....period.

 

Kash is King.

 

And to think that a few years ago, I netted 1500 pounds a month and 1100 was in interest payments!

 

Pay cash, all the money is yours.

 

Just a point of view......hope it helps some of you.

[pedross]

 

Truly, credit free, in my opinion, is best. But that is my opinion, and like you say at the Site Team, that was the way our grandparents lived.

 

Only time will tell who is right and who is wrong.

 

Well said and time has already told in no uncertain terms.

 

Easy come easy go and spend the rest of your life paying the interest.

 

Cash is king now as you said. The billions of pounds that the lenders make are the proceeds of someones hard labour so why work had for it and give it away for the benefit of not waiting a little longer for what you want.

 

Pedross

[diddydicky]

the trouble with credit cards is that when they are issued to you - you mistakenly think you have XXXXXX pounds and its yours to spend

 

it isnt, it wasnt, and it shouldnt have been!

[gezwee]

the trouble with credit cards is that when they are issued to you - you mistakenly think you have XXXXXX pounds and its yours to spend

 

it isnt, it wasnt, and it shouldnt have been!

 

Oh bugger......think thats the point I fell down on, having to repay 'em

 

Evening DD and all

 

Can any of you lot help Spookey out with an up and coming defence needed?

 

Agreement looks sound but theres a big chunk of PPI and charges if you have any ideas .....

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/223857-advice-required-plz-court.html