Taking back control of your finances

[muffinblack]

Hi what do I do with regard to a loan repayment through the same bank can I change that to s/o?

[Bookworm]

In my experience, as long as you keep to the repayments, even when they say it has to be done by DD, you can usually change to SO and they don't say anything. A lot of loan ones are quite happy to accept SO nowadays. Contact them and say that you need the account no & sort code to do BACS so you can make additional payments, and Bob's your uncle. ;-)

[Richard Spud]

“OFT seeks closure of 'look alike' debt advice websites”

 

LINK: http://www.oft.gov.uk:80/news/press/2009/26-09

 

Hope this helps.

 

Richard

[Richard Spud]

EXCELLENT WORK BY THE OFT AGAINST A DCA

See the latest action published on 21st April 2009 and valuable OFT opinions to cite to other DCAs and the County Courts.

http://www.oft.gov.uk:80/news/press/2009/44-09

“Under the Limitation Act 1980, which applies to England and Wales, a debt is considered to be statute barred when no payments have been made against it or where it has not been acknowledged for six years. A statute barred debt cannot be legally recovered. Whilst the OFT accepts that the debt still exists, the OFT considers that it can be unfair to pursue the debt in the circumstances set out in our Debt Collection Guidance”

Quote from the OFT MACKENZIE HALL PDF document:

“REQUIREMENTS IMPOSED BY THE OFT REQUIREMENTS RELATING TO:

MACKENZIE HALL LIMITED

A debt is considered as in dispute where:

A request under section 77 or 78 of the Consumer Credit Act 1974 has not been complied with, and this prevents the agreement being enforced without the permission of the court”

I suggest that the above reference to ss.77 and 78 of the CCA 1974 is a very strong endorsement of the rights of consumers to be provided with true copies of Regulated agreements.

HTH

Regards – Richard.

[B Nekket]

I've been to other debt help forums, but I've found some pretty good links here. Good things to remember.

[maybelline]

provident are going roung to customers having bought up old debt from other companies more than 6 years old and telling them they have to sign up to repay them via them!!!????

[maybelline]

can weekly doorstep lenders insist on monthly 'in advance' payment? I thought that creditors were not allowed to collect early on payments due?

[Bookworm]

Maybelline, you might want to get those questions into the DCA forum where they'll get more exposure. If you can provide more info about Provident's actions, that would be helpful. And no, if agreement is for weekly payments, then that's what it is, they can't then change it.

[The GodMother]

there is already a thread on this matter i will find and link it to here but i know its title is summing like provident collecting for wescott.

[Dichotomy]

Wow, great advice here. Taking control of your finances is empowering.

 

good luck everyone.

[The GodMother]

heres the thread.

 

Provident Collecting??

[maybelline]

thanks

[sequenci]

can weekly doorstep lenders insist on monthly 'in advance' payment? I thought that creditors were not allowed to collect early on payments due?

 

They shouldn't be doing that.. afterall, the payments are not 'due'

 

btw - I wouldn't sign anything!

 

You mention an old debt, was there ever a period of time in which it wasn't paid?

[angel_1]

hello everyone and again Bookworm a fab and truely awesome thread thanks

 

me too have got my internet banking set up and got sto set up ie council, water and it does show you chipping it away at the total originally owed

 

some weeks i pay more and its a great feeling

 

got my credit union loan and savings set up this way too and i just love it

 

so will see if i can learn more from this thread so thanks to all

 

have a sunny day laters angel x:)

[bigyeti]

I have sent the letter disputing the new draconian charges regime (thanks Bookworm for that), and have yet to receive a reply. I seriously doubt I'll receive one before the switch over anyway.

 

We have a £1500 overdraft which is well used. We had hoped that A&L would match their overdraft so we could pay off Halifax and pay less with A&L. But because we'd not been in credit for a long time, they wouldn't give us one. Fair enough, that was one of the criteria but we applied anyway.

 

We were considering taking out a loan which would've cost us £53 but after reading this, then I'll definitely be taking the cheaper approach. I'm just about to call the tax credits and child benefit people to transfer payments to A&L, the last DD for the mobile phone contract and finally the SO for the mortgage (who we took out with Halifax).

 

I am about to craft a letter to Halifax about the overdraft to make the offer of repayment. I'm gong to offer £30 per month plus the option to pay extra when we can afford it, which will be possible in the new year as the annual water bill is DD over 8 months, and the council tax is over 10 months.

 

Saying that, I have a job interview this afternoon so if I'm successful with that, it can be paid off a damn sight quicker.

 

Anyway, that's the background, now my query. Has anybody here had any success with this approach? Have Halifax been lenient or have they used bullying tactics etc, or am I asking a rhetorical question?

 

Edit: Incidentally, if I send an initial payment by cheque, who do I make it out to? Myself?

Edited November 3, 2009 by bigyeti

[new-me2010]

I would love to do Internet Banking but I only have a basic bank account with Barclays as my credit is sh*te. You can't do standing orders on it unless you fill out a form and take it into the bank to get them to action it. I opened that in 2006 because I had problems during my divorce. I can internet bank from my savings account but can't pay bills.

I had accounts with Lloyds and NatWest which I could do SO's on and I do miss it because I am disabled.

 

Yes I am sorting out my finances and it feels good, even my addiction to Facebook seems to have gone.

[citizenB]

Interesting thread. Posting to bump it back up the queue:D