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    • Hi,   I searched online for an insurance company using compare the market. Sheila's wheels came out with the best quote so I telephoned them to arrange the purchase. After I had paid out the initial amount of £70 and agreed a direct debit I then cancelled my soon to expire Insurance policy. I immediately received an email from that insurance company informing me I no longer had my no claims bonus due to an accident last June. I telephoned Shelia's Wheels to explain that I had made an error, instead of 3 (which I had put on my original agreement), I had now been informed I had none. They put the policy up by another £300, so I asked to cancel. They now want to charge me 29 pound something for cancelling. I made the mistake with the no claims bonus because compare the market keeps a record of my information & this was what was in that information about me, including the date of my accident.    Do they  have a right to charge me? My insurance would have taken effect on the 15th November 2019.   Thank you.
    • I'm on happy pills (anti depressants) but they aren't cutting the mustard anymore and I do need to see my GP soon to see if he can help in anyway. With regards to gambling it's so complicated; through my life I have made money (as well as having had some jobs)  being a "professional gambler" (gambling where the odds are in your favour - think card counting for example, fruit machines years ago for a long time.... Other things.) But I've also been totally compulsive at the same time. It;'s so entrenched in my psyche that it's hard to imagine just giving it up totally. I also have drug issues that have plagued me and it's a shame because I am fairly intelligent and could have been successful in life in theory but mainly due to those two things (and not really having any drive, ambition, whatever... I could go on and on but this isn't a therapy forum :P) I've not managed to. I'm 36 by the way. Cheers
    • Oh I just remembered I have a long defaulted account with Halifax balance approx £3700 I believe (from around 2015) but they aren't chasing me for it or anything. It was actually over £5000 but they refunded me a load of unfair charges (their words)  This does however push me over the £20,000 limit for a DRO I think?  
    • Hi.   I think you've made a good start by setting out in writing what you need to deal with. People should be along later to advise on how to deal with your creditors.   For the mental side of things, have you talked to your GP about getting some help with what's getting you down? Or support with the gambling issues?   HB
    • Hi people.   So I've managed to get myself into a sorry state financially. I'm insanely depressed which I guess is common for many. I don't think all of it comes down to the financial stuff but it is really crushing me now.   Facts: A lot of debt has been due to living on credit and gambling. I don't have a job. I know I should get one but I just totally despondant at the moment (due to many reasons). I don't expect any sympathy but I thought I would share this.   It's tempting to bury my head in the sand and wait for the inevitable calls from various collections departments but I want to be as proactive as possible. I think I've cancelled all direct debits so I don't get bouncing charges from the banks...   So onto the debts:   Loans livelend; £2400 was 4k 13% interest Bamboo £3000 (only just made the first payment this month) supid interest Likelyloans approx £3500 stupid interest  One payday loan for £200 I just got to cover some bills (knowing that I'd unlikely be able to pay it) - this is the only thing I haven't cancelled with the bank as they just take it from your card   Credit cards: Aqua approx. 3900 Capital one approx. 1200 Amazon approx £500 Paypal Credit Approx £1100 Overdrafts Santander £1500 Barclays £1k limit (I don't actually pay anything for this)   So all in all approximately £18,000     I also have a negative Paypal balance of £5000 but I don't believe this classes as a debt and I don't think they can do anything about this having read up on it quite a lot.   I guess my question is what is my best course of action. Should I look to do a DRO? Should I go bankrupt? (eurgh. Full disclosure I did this 15 years ago when I was 21. You think I would have learnt!) Should I write to each creditor and offer them £1 a month? Should I talk to one of the debt charities?   It is all my fault that I'm in this state but I also know that it's not the end of the world because they are all non priority debts. I probably am slightly behind on the council tax but not significantly.   I started claiming universal credit a couple of weeks ago and had my first appointment last week but managed to miss the next one due to not being able to sleep and then oversleeping and so I guess they've probably kicked me off that already and I might have to claim again.    So yeah. I take responsibility for what's happened but I don't see any way out. I've been very depressed lately due to this and other things. There is no one to "bail me out" and I probably don't need or want that anyway. Any advice appreciated          
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A Little Advice and Help Please

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Hi all,

First time poster

I have a couple of issues I would like help with please

Can a creditor purchase a credit card account from another creditor and then turn that credit card into one of there own.? E.g. say I had a credit card with The Bank of Scotland and then this account was sold to MBNA, could MBNA then turn the credit card into a MBNA credit card? if so what would have to be done for this to happen.?

My other issue is that I have a creditor that has stated that they have destroyed my loan agreement. I understand that a creditor has to keep agreements for a number of years which I believe is stated within the Limitations Act but I am having problems finding the info.

Would appreciate some help

Many Thanks

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YES, the debt purchaser owns the account, paperwork must be kept for 6 years after the account is closed.


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Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

MISSION

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No the original ts & Cs would remain in place, it's common practice when a brand is sold as for instance when Barclays aquired the EGG brand.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

MISSION

 

When another bank takes over your credit card, they send you a letter advising you of this. The exisiting terms for the card apply. In the letter it does advise you of the opportunity to stop the card account, if you do not wish to continue with the new provider. But as this means settlement of the full card balance within 30 days I think, many people just continue.

 

As for the other debt with the missing loan agreement, when was the original loan taken out, how did you take it out and when did you last make any payment towards it ?


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Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

 

 

 

 

 

 

 

 

MISSION

 

The creditor may have destroyed the hardcopy 0f the agreement due to age BUT may have a microfiche stored, a SAR specifically requesting such may be useful.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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