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By Badtimes123 · Posted
Hey SB, I do know for certain that CAG would always advocate paying your debts and not getting into more debt if possible. I can however comment on my own experience and you will take from that what you will: I made cash withdrawals on my CC's everyday to the maximum, until I was happy my buffer was sufficient. No one checked/asked or anything about it, because why would they?? all they care about is whether you'll pay or not, not where the money went before you couldn't pay. Then I used the cash to pay the min payment a couple of months.. Let me come back with another hypothetical scenario Let's imagine you didn't know you were about to have financial issues, you could absolutely use your Credit Cards to buy WHATEVER you want *cough* Fraud - the only people involved in fraud is the financial institutions, in my opinion. -
Thanks for replying. All details are on the portal. Completed deferment form, bank and contact details etc. I uploaded a P60 as evidence after filling in deferment form via portal. . So should have everything they need.
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By Nuttyzebra · Posted
Im going to add the corresponding consumer credit act mentioned do i need to add any other evidence in with this?? -
By SkintBadger · Posted
Can I ask a purely hypothetical question please? I don't agree with debt avoidance, nor would I ask anyone to advocate it. However, on a purely theoretical level from a desperate man - Despite about to be jobless, and having covered all this month's debt payments, I still have about £13k in available credit across the 3 credit cards listed above. What would happen if I bought £6k in a 100g gold bar on credit card. Then made repayments for next few months. Then defaulted the card along with the two TSB loans? On the "in for a penny; in for a pound" principle? I could sell that gold when I really needed to in the year to come and survive. Please understand, I realise this is immoral and likely to be seen as fraud. However on a 100% imagination level only. What would happen when I default. They'd want to see what I'd done with the gold. I could show I've sold it for cash, and even provide receipts for what I've spent it on over that year on "cost of living" essential things. Are we allowed to talk "in theory" here, or if not, please feel free to delete post. I've had such horror experiences from banks in the past where they haven't acted with any integrity, there's a small part of me that almost wants to treat them like they treated me. Any theoretical "likely outcome" ideas please.... -
By Nuttyzebra · Posted
Yes, cancelled the direct debit, and no there was no mention of a payment plan. On my credit file the first default is July 2018.
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