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Help Friends Loan Is Crippling Her


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hi Im Asking For A Friend.shes Very Depressed Right Now And Thinks Going Bankrupt Is The Only Way Forward.i Need To Know If This Is True B4 She Makes A Mistake!

she Was Given A £25000 Loan From The Bank(barclays Bank I Think) On The Basis Of Her Tax Credits!! I Think This Must Be Wrong Of Them For A Start! She Cant Afford To Pay Anymore But This Loan And A Couple Of Small Ones Are With An Iva At The Moment.what Can She Do? Shes Paying 100's A Month Which She Just Cant Do Anymore.

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

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bump anyone?

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

This might be of interest to you.

 

BBC NEWS | Business | Bank 'offered unaffordable loans'

  • Haha 1

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro 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.

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fantastic thanks ive forwarded it to her :D

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

not sure when the loan was taken out.ive advised her to send the letter from the template letter.many thanks

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

archer when was loan taken out? Has she tried requesting a copy of the credit agreement? There is a standard letter in the library on here for request under consumer credit act 1974.

 

I dont think her loan will come under the CCA 1974 because of the amount. Anyone please advise

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I'm assuming this is an unsecured loan as you don't mention otherwise? If this is the case the bank are much more limited what they can do. Get her to send SAR letter if CCA doesn't apply as this will buy her some time. She may also want to speak to National Debtline who offer free confidential advice on dealing with debts & can go into much more detail on what her options are - e.g. doing a budget & working out what she can afford ( if anything ), they can provide template letters to send to the bank etc.

 

Hope this helps. She should be aware that if her account is passed to a debt collection company ( which is pretty standard practice ) they are not bailiffs and have no right to enter a property or take goods.

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I dont think her loan will come under the CCA 1974 because of the amount. Anyone please advise

Sorry, meant to answer this properly - if it's £25k or over then you are right CCA 1974 will not apply ( that why can use SAR request instead )

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she phoned the national debt helpline and they advised to go bankrupt. im not sure if you can get of bills to bankrupcy tho as she wants to do that as well

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

she Was Given A £25000 Loan From The Bank(barclays Bank I Think) On The Basis Of Her Tax Credits!! I Think This Must Be Wrong Of Them For A Start! She Cant Afford To Pay Anymore But This Loan And A Couple Of Small Ones Are With An Iva At The Moment.what Can She Do? Shes Paying 100's A Month Which She Just Cant Do Anymore.

 

If she is in a IVA then she really has no romm left to negotiate these loans. How much longer has she got to go the IVA. If she defaults on the IVA then the next step is BR

Consumer Health Forums - where you can discuss any health or relationship matters.

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thanks guys for all the suggestions i shall ask her how long shes left on the IVA. btw the loan was taken out in 2005 and it is unsecured.

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

  • 2 weeks later...

ok ,friend has now had to file for bankruptcy,shes due in court next week so thanks all for your help.! :D

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

Not sure how much help we were, but it seems at least she'll be able to stop paying a fortune and start to move on with her life.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro 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.

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Not sure how much help we were, but it seems at least she'll be able to stop paying a fortune and start to move on with her life.

 

Agreed - I hope she did take some advice first so she is aware of the process etc. If any queries come up relating to the bkrptcy feel free to post again but I hope she gets the clean sheet she needs :)

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AWW thanks i gave her some good sites before she went to court to have a read so she knew exactly what she was getting herself into b4 it was too late

additions direct-no CCA

marshall ward-no CCA

next-CCA turns up after they have committed offence,(30 days) S.A.R - (Subject Access Request) time!

monument -CCA not signed reported to TS for harrassment 1st letter sent TS are useless

associates visa-no CCA

think there might be a pattern here!?:lol:

GE Money- won

barclaycard-- N1 put into court

capital one - won

NatWest- won

 

never lose sight of your goal!

Link to post
Share on other sites

At least her decision is informed and she looked at the options first.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro 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.

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