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    • Hello, yesterday Barclays Bank put my account under review suddenly just i received a message about that to wait 7 days . I ve been to local branch and they didn't tell me any information saying to me to wait 14 days . The problem is I think they will take longer than they said and I can't wait so much cause I need the money for my own company and to live life daily. This situation its caused me a sever anxiety, I dont know what to do . I can prove that I m a self employed . Can somebody tell me what should I do ?  Some contact numbers or email addresses where can I text about this problem? I m new on this platform and I dont know how to manage this . Thank you
    • Hello yesterday Barclays Bank blocked my account with a substantial amount and I didnt get any reason for this issue why they put my account under review. I m a self employed and all the money blocked are very important to me to open my own company .. Can I get some information about what should I do in this case.  I ve been to the local branch but they didn't give me any information just to wait 14 days and I can t do that .
    • harveys are not the creditor, so them stating you should continue to make payments and you will not receive your payments back is immaterial.   the administrators of harveys are not your target. creation finance are.     these issues should be directed toward creation under p'haps a section 75 claim ....as they are the creditor ...they are equally responsible for the actions or inactions of either harveys or bensons.   we can appreciate you have had the usual run around, we are not indicating you have lied, merely pointing to the fact that you innocently believed what you have been told to date.   go get your moneyback and get the finance agreement cancelled.   dx 
    • you've not moved so until or unless you get a letter of claim via royal mail you ignore them.   as for anything on your credit file it should fall off after 6yrs.   dx    
    • 1st. it is not illegal for you, as the home owner, to open letters addressed to 'others' not resident at your address.   2nd because you did or did not employ the above, ultimately, this has led to a court judgement being handed down. the bailiff company have employed, quite rightly,  the methods that are legally available to them to trace the defendant.   rightly or wrongly they have traced you.   you need to write to the bailiff company concerned briefly explaining the above stating you are not the said person. you also need to write to the judgement court the same. you also need to write to the relevant rail toc    never use the phone.   dx      
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Got a letter before action letter from a spreadbet company, stating I owe them £3k, as my account is in debit.

I havent used this account for 11 months.

 

The debt was caused by the Swiss National Bank removing the peg, so a small bet (in wrong direction) wiped out my account and more.

 

A bit like this:

 

http://www.telegraph.co.uk/finance/personalfinance/investing/11562202/How-370-investors-lost-18m-in-minutes.html

 

Is this debt enforceable in a County Court?

As its not regulated by a CCA, but it says in their T&C that debit balances need to be made good.

 

What steps should i make next?

 

Billy

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Yes they can use the County court and say you owe the money per their T&C's.

 

Have you registered any complaint in line with any regulatory requirements for the spread betting company.

Do they have a complaints process, with an ombudsman or body able to review complaints.

If so, you should follow it.

This should prevent any court claims being issued, while any complaint is in progress.

We could do with some help from you.

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Have responded more fully above

We could do with some help from you.

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You could try with an F&F offer, pointing to any issues you had with this companies services.

You could say you are looking to avoid getting involved in protracted complaints with regulators or through the courts.

We could do with some help from you.

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  • 1 year later...

Received a letter today from Igindex solicitors claiming I owe them approx £3k as a result of a spreadbet going wrong.

 

You may remember when the swiss national bank removed the interest rate peg in Jan 15, which caused a crash in CHF-related currencies. It was a cash account I had, which went negative as a result of this.

 

In the letter they state they will go to county court on behalf of their client, and included a draft of the particulars (3 page document) to document their argument against me.

 

I've had debts before and successfully defended a county court case against me for a loan, but i'm a bit stumped as to how to proceed on this one.

 

Thoughts?

 

BillyRay

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If you could scan and upload the letter and proposed particulars (suitably redacted) billy.

 

Regards

 

Andy

We could do with some help from you.

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  • 2 months later...

the gist of this case against me is:

 

I opened a spreadbet with them.

There was a sudden geo-political event which caused the spreadbet to go into a loss, and they closed the bet off when the markets opened, crystallizing a £3k loss.

 

I opened the account over the net, and didnt sign any documentation in hard copy.

 

At the moment, the account has been referred to a solicitor who have prepared a particulars of claim against me, but not gone to court yet.

 

I dont know how to fight this one in a legal sense. Ideas?

 

Thanks

 

Billyray

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Ideas:

a) it wasn't you who opened the account?. But, it was.

b) They didn't warn you that losses could exceed deposits / 'the bet amount'?. Usually, for spread betting they would, though.

 

Are you asking for ideas because you think you don't owe it (in which case why don't you owe it?)

That you think you owe it but it will be unenforceable (again, why?)

Or you think you owe it and they'll be able to obtain a judgment against you, but you are hoping for a "magic wand to wave" to get you off the hook?

 

Ohh, and a previous respondent asked for a (redacted) scan of the correspondence.

Help us to help you.

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What is their legal basis for closing the bet off ?

 

Was this a reasonable action that could not be avoided ?

 

I think you need to seek advice from people who fully understand the subject matter and can provide reasons for any defence. No point posting to a general forum like this.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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  • 2 months later...

I had a cash-deposit account with a well-known financial spreadbetting company.

 

The basis of this claim against me is I took out a spreadbet with this company and a force majeur happened, and before I could react they closed my bet at a significant loss, thus crystallizing the debt.

 

I received a draft of particulars (uploaded and redacted) from the solicitor representing the spreadbet company.

 

Any thoughts on this?

spreadbetting POC.pdf

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It is spread betting.

It has risks, it is a form of gambling.

 

Is it correct they warned you that your losses could exceed your deposit?.

If so, and the particulars are correct, the fact you can’t afford to pay doesn’t stop them enforcing......... or at least trying to enforce via the county court (they can’t get blood out of a stone!)

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First make sure no-one can come up with a reason they wouldn’t win in court.

 

If none is forthcoming decide : would a CCJ against me be a disaster?.

If not, and you really can’t afford much per month, let them get a CCJ and apply to pay a minimal amount per month. (Can’t get blood from a stone)

 

If you really don’t want a CCJ : let them know you’d ever be made to repay a nominal amount per month. Then offer them slightly more than that, in a consent order (“Tomlin agreement”).

 

If you’d “be paying forever” you might consider bankruptcy, but it is a “nuclear option”, and you’d want them be sure there was no better choice.

 

 

If they had a “close-out” minimum that became active : they could argue they had acted to put a limit on your loss.

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Is this the same Spread bet as in your previous thread:

https://www.consumeractiongroup.co.uk/forum/showthread.php?478283-Igindex-Spreadbetting-debt&p=5055420#post5055420

 

Unless it isn't, shouldn't these threads be merged?

Were you expecting different answers from the last time you asked the same questions?.

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Threads merged.

 

Regards

 

Andy

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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

 

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