Jump to content


  • Tweets

  • Posts

    • I wonder if anyone can help me. I had a loan with a high street bank from about 10 years ago and I had to stop paying because I lost my job. I reduced my payment to a token payment for a few years but I then ceased this some years ago because I took some advice from an online forum which said that I should ask a ‘Subject Access Report’. I did this and I also asked for a copy of the contract with both signatures which highlighted that myself and the bank had a contract and what its terms were. As the loan was made up of an overdraft and a formal loan I thought they would have paperwork. However, eventually the bank responded by saying that they had no contract and they admitted that as such it was not enforceable in court. Over the last year, the bank have again appointed Moorcroft Debt Recovery Limited to use their strongarm tactics. I have not been responding to the last couple of letters asking me to contact them to arrange a payment plan and now their letters are becoming more threatening. Here is the text of their latest letter……. Quote   We are aware that you have failed to agree an affordable repayment plan with us concerning the above account.   As no agreement has been reached we are now in the process of reviewing your account to consider the steps which may be taken in relation to further debt recovery action. The options include recommending one of the following:   ·         1. Continue in our attempts to contact you by letter and phone. ·         2. Instruct a local representative to arrange to call at your home address to try to re-establish contact with you.   To prevent possible further action you must contact us. Failure to contact us by the 22/10/19 will result in one of the aforementioned debt recovery actions being undertaken without further notice.  Unquote As you can see, they are now getting more threatening. I really do not want people knocking at my door – does anyone have any ideas as to what I can do to sort this situation? I do not want to pay for something that seems unenforceable but I do not want knocks at my door either. Any help would be appreciated.   Kind regards    
    • Yes it was a tomlin/consent order I have a recent statement its not showing any additional charges on it. The statement does not show the balance to pay each month, as the contract was terminated in March 17 and the termination bill was added to the account so my payments reduce the account balance £14262.38  Capital £6995.00 Interest £7213.38 Plus 3 x £18 charges  I presume if it went to court again I would be notified?    I thought court costs and charges could increase a balance owing but not be included in arrears or court proceedings when listing the amount owing, or am I wrong?    
    • Check to see if they are adding monthly charges inflating arrears as per DX.
    • .So I’ve been at the flat for a number of years , you had to be a certain age back then, now all ages and couples with young babies get put here , first floor , no garden not a good area not so bad either .   ive just had a letter to say I’ve been taken off the list to transfer to a more appropriate home ,  no notice just taken off, council are saying my age group no longer qualify.. I spoke to equality and human rights council they suggested I complain siting The Public Sector Equality Act 2010. ( The General Duty and Specific Duty)  relating to age discrimination.      But I’ve also come across this in LAW Quarterly online Mag.    LHA’s allocation scheme suspending applicant’s ability to bid (R (Alemi) v Westminster City Council) The High Court has held that Westminster City Council’s allocation scheme suspending certain applicants from bidding for social housing for 12 months breached section 166A(3) of the HA 1996 (setting out which groups of people should be given reasonable preference when allocating housing).   Interesting i thought?               
    • so you've had a notice of assignment then?   if so that's rare for nasty west to sell it on they typically litigate themselves so I bet the debt is vastly inflated with penalty charges and the interest they attract.   i'd be sending NW an sar get all the statements. then go thru them with a fine toothed comb.   could be £1000's to reclaim....   pers i'd stop paying   what was the original debt amount and what is outstanding now a bit more info on the history please   dx    
  • Our picks

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2494 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

hi,

please can any of you who have been in simular circumstances to me or have good knowledge on the following please give me advice on how best to tackle my problem.

 

7 years ago i purchased a house with my partner on a joint mortgage splitting all bills etc down the middle. Unfortunatly the relationship ended 2 years later so my partner moved out and i paid her the £20,000 she put down as an original deposit on the house which i also originally put down. my plan was to sell within a year and downsize.

 

As soon as i put the house on the market the property market fell and could not sell the house. original buying price was £184,000 went up to value of £210,000 but Now i am living in a house which is worth around £160,000. my mortgage is still £124,000 and have put down £40,000 in deposits.

 

Luckily i am now in a tracker mortgage so my payments have gone down from £960 per month to £630 with the low interest rates but with all other bills on top where this house was set up for 2 paying adults it has finally come to a head where my outgoing (£2100 per month) are the same or a bit more than what i earn (£1700-£2000 per month).

 

i have managed over the last 5 years getting by through a small inheritance but also by credit cards and now have £27,300 on three seperate cards. i have £14,000 on one card, £10,000 on another and £3300 on the third. These payments are cripling me. I have kept going over my overdraft with lloyds but have agreed with them to keep within my overdraft and they have frozen interest for 5 months for me.

 

 

i need advice please on what i can do or how i approach my 3 credit card companies to lower repayments to stop me spiralling into more debt and would my mortgage company be able to help or what should i ask them to do? my friend said ask for a "pay holiday" from them to give me time to catch up? or ask to freeze interst and set up an agreed lower amount. I also have my son who is 8 half of every week so have to take him into consideration giving him a stable home etc

i am very worried about all this and at present even struggle to have money for food etc

 

 

reading it back it sounds like i have managed it all terribly but the plan of only staying a year backfired.

 

please help

 

thanks

Edited by citizenB
formatting

Share this post


Link to post
Share on other sites

Hi,

 

I have moved you to the Debt forums where you will receive more attention.

 

I think first of all you need to sit down and make yourself a proper budget so you can see exactly what is what.

 

You can deal with your creditors yourself on a DIY Debt Management Plan or you can contact one of the Debt Counselling Charities.

 

I would suggest National Debtline - sadly CAB are overworked and understaffed and you could wait ages for an appointment.

 

Once you have your budget plan, look at your debts.

 

Mortgage and other priority debts cannot be left you must pay your Mortgage / council tax/television licence/utilities and food

 

Unsecured / low priority debts such as credit cards you need to look at.

 

Are there any charges or PPI (Payment Protection Insurance) on any of these credit cards ? If so, you can reclaim the charges and perhaps look at the PPI to see if it is mis sold.

 

If not, then you just need to write to all of these low priority creditors. There are letter templates in the CAG Library you can use.

 

Simply explain that you have reached a point where you are no longer able to maintain your contractual obligations. That for a period of at least 6 months would they please accept £X amount (however much your budget will sustain) and freeze interest and charges in order to allow you to get back on top of things again.

 

Advise that you are not seeking to avoid your liabilities, you simply require some breathing space.

 

Can you let us know who the credit cards are with ?

 

If you have any of the payments for these credit cards on Direct Debit - I suggest you cancel the DD immediately you can set up standing orders or make online payments once you establish how much you can afford to repay them.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

Who is your mortgage with ?

 

A lot of the providers have signed up to the Government Mortgage Protection Scheme whereby they should have in place some help/advice for those who fall into temporary financial hiccups..

 

They might be able to extend the term of the mortgage and lower repayments (although long term I think that would cost more in interest) - Perhaps a payment holiday for 3/ 6 months.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

Forgot.. here is the budget sheet..

 

Ellens Budget Sheet.xls


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

really appreciate your advice, there are some great things for me to go forward with. my mortgage is with alliance & leicster/santander

Share this post


Link to post
Share on other sites

sorry, also credit cards are with barclaycard mastercard £10,000, mbna visa £14,000 and santander mastercard £3300. no ppi's unfortunatley! if i cancel my dd for credit cards should i phone them and notify straight away? they are due to come out over the next week and don't have enough funds to cover them

 

regards

Share this post


Link to post
Share on other sites

Have a look at your overall budget first - see how much you can save by sorting out the credit cards.

 

You might not have to approach the bank if you can get the CC off your back for a while.

 

I have flagged your thread for others on the site team .. who might be able to offer more advice re the mortgage..


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

Hi, it's certainly worth asking the mortgage company for a payment holiday, but what would you use the mortgage money for during that time?

 

Would it be possible for you to take in a lodger to help with the outgoings ? a work colleague or friend ?


Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

Share this post


Link to post
Share on other sites
sorry, also credit cards are with barclaycard mastercard £10,000, mbna visa £14,000 and santander mastercard £3300. no ppi's unfortunatley! if i cancel my dd for credit cards should i phone them and notify straight away? they are due to come out over the next week and don't have enough funds to cover them

 

regards

 

If you dont want the monies coming out and leaving you in overdraft situation then you should definitely cancel these immediately.

 

If you get your letters off as soon as you can as well with your proposals.

 

Are any of your credit cards/mortgage with your bank ?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites
Ok thanks for advice, no none of my credit cards or mortgage are linked to my bank.

 

Excellent, in which case you can stop your Direct Debits.. - get those letters off.. you can use the draft templates from the CAG library, simply advising you are suffering a financial hiccup, you are unable to maintain the contractual payments - you are not attempting to avoid liability, you are simply requesting some help/ breathing space.

 

You can afford £x amount, which you would hope they can see their way to accepting for a period of 6 months, when you would be able to review the situation. That the first reduced payment can be made on DATE..

 

HTH.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

I dont know if you do online banking.. if you do, I think you can cancel online.

 

If not, then either telephone the bank or hand deliver a letter cancelling the DDs.

 

Keep an eye on your account - if the bank does pay the DD, then you can get it reversed under the DD guarantee and if any charges are incurred, then they too, are reversed.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Share this post


Link to post
Share on other sites

I used the free Consumer Credit Council and found them brilliant. They were on my side and made sure I had enough to live on, while agreeing a debt management program with

my bank.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...