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  • FIRST POST
    • HITS
    • By HITS 20th Jun 17, 5:12 PM
    • 27Posts
    • 2Thanks
    HITS
    New member Debts / Anxiety / Depression Advise Needed
    • #1
    • 20th Jun 17, 5:12 PM
    New member Debts / Anxiety / Depression Advise Needed 20th Jun 17 at 5:12 PM
    Dear Friend

    Thanks you for visiting my post, any help/advise is greatly appreciated. Thanks in advance.

    Please go easy, I am a newbie to this. I have read lots of posts for the past few days on MSE but havent found a clear answer as yet therefore my apologies if I am asking any repeated questions. This is to make sure I make right decision and take the right actions. Also apologies for the long post, I wanted to give you all the info upfront to save time.

    Brief history:

    A close family member passed away which led me into years of depression. Built up credit card debts as per below with ex-wife. Went through a divorce and was left with all debts as it was on my credit cards. Recession of 2008 and especially anxiety of my debts and constant hounding from debt agencies affected my health and led to closure of my business. I continued paying my debts with my savings until I had nothing left. In 2010/11 I defaulted on all credit cards. Over this period and thereafter, depression and especially anxiety took over my life and I had nothing left in me to fight these issues. Fast forward to present day and I have fought very hard and I am much fitter mentally (still with some anxiety and depression) and physically to deal with my debt issues and am ready to take on these companies!

    Current Debt Situation:

    (1) Robinson Way (Egg), opened Jun-04, balance 11,290, paying 5.00/mth, defaulted Dec-10, f/f offer received 3,390

    (2) Capital One, opened Jan-01, balance 2,640, paying nothing, defaulted Apr-11, last payment made April 2016

    (3) Cabot (HSBC) opened Apr-06, balance 2,925, paying 5.00/mth, defaulted Jul-11, f/f offer received 875

    (4) Cabot, (Lloyds), opened Sep-04, balance 15,800, paying 5.00/mth, defaulted Jul-11, f/f offer received 7,955

    (5) Moorcroft (Amex), opened Mar-06, balance 4,900, paying nothing, defaulted Jul-11, last payment made Dec 2012

    (6) Link Financial (Barclaycard)opened Oct-03, balance fully settled, defaulted Aug-12, possibly incorrect default date needs removing

    Notes:

    Above stated monthly payments are all managed by myself. 5 out of 6 defaults are about to drop off by end of next month. I am looking to start up another business with help from close family and looking to pay as little as possible to these CC companies. Priority to keep my credit file as clean as possible in future. Possibly looking to apply for business loan after 5 defaults have dropped off.

    Questions:

    What is my best step forward with each of the above debts?

    Would requesting CCA from these companies motivate them to come after me more aggressively and possibly resulting CCJ?

    All my debts are pre April 2007 (prescribed terms), how would this effect CCA request? Are they less likely to have it?

    Once the defaults drop off, can I be defaulted on my credit file again if I dont pay their demand?

    Currently there is no DMP with a company, is this worth setting up after defaults have dropped off with very minimum payment to stop calls and letters and so to help my anxiety?

    Link Financial debt has been fully paid off but they put a default on my file.I am not sure if this is correct or not and means I have to wait till Aug 2018 for it to drop off .how can I deal with this and have it removed?

    How is my depression & anxiety viewed by these companies? Are they likely to be more helpful?

    Once again many thanks to all advisers/posters on this forum, you do a grand job in helping many people who have suffered for years and your help is appreciated.

    Best regards.
    [/SIZE][/FONT][/FONT]
Page 1
    • sourcrates
    • By sourcrates 20th Jun 17, 7:37 PM
    • 12,171 Posts
    • 11,634 Thanks
    sourcrates
    • #2
    • 20th Jun 17, 7:37 PM
    • #2
    • 20th Jun 17, 7:37 PM
    Hi,

    Welcome to the forum.

    Your first step should be CCA requests to all relevant accounts yes, the fact your debts are are all pre-2007 could be of benefit to you, as they must respond with a copy of the terms and conditions (prescribed terms) in force at the time, as well as your copy agreement.

    This is your statutory right under the consumer credit act, it can't be taken away or used against you in any way.

    Once a debt has dropped off your file, it cannot come back.

    Send CCA's first, then you will have a clearer idea of where you stand.

    Info and template letter here :

    https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • HITS
    • By HITS 20th Jun 17, 8:05 PM
    • 27 Posts
    • 2 Thanks
    HITS
    • #3
    • 20th Jun 17, 8:05 PM
    • #3
    • 20th Jun 17, 8:05 PM
    Hi Sourcrates

    Many thanks for your quick response.

    How are the pre and post April 07 agreement different and how might they work in my favour? The template letter does not mention anything regarding pre April 07 agreement, does I need to?

    I would be very grateful for your feedback on other questions listed.

    Also should I be sending CCA to Amex and Capital One whom I have not been paying and is dormant and heard nothing from? I am concerned they may start chasing me again.

    Many thanks & much appreciated.
    Last edited by HITS; 20-06-2017 at 8:26 PM.
    • sourcrates
    • By sourcrates 20th Jun 17, 8:40 PM
    • 12,171 Posts
    • 11,634 Thanks
    sourcrates
    • #4
    • 20th Jun 17, 8:40 PM
    • #4
    • 20th Jun 17, 8:40 PM
    Pre April 2007 agreements MUST be accompanied by the prescribed terms, after that date the law was changed and is no longer a requirement.

    It's in your favour as most agreements from that time did not comply with the act.

    If the prescribed terms are missing, the debt is unenforceable as the courts have already ruled on this.

    Complain about the default if you believe it was unfairly added, debt collectors are obliged to treat you fairly whatever your medical condition, but more so in cases such as yours.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 20th Jun 17, 9:03 PM
    • 11,339 Posts
    • 8,510 Thanks
    fatbelly
    • #5
    • 20th Jun 17, 9:03 PM
    • #5
    • 20th Jun 17, 9:03 PM
    I agree with that as a strategy.

    Pre-2007 agreements have the added bonus of potential unenforceability under s127(3), so it strengthens your arguments.

    When you say 'f/f offer received', did you make that offer or did they just write to offer it?

    The ones from Robinson Way and Cabot(HSBC) seem generous, which may indicate some defect in their paperwork.
    • HITS
    • By HITS 21st Jun 17, 9:34 AM
    • 27 Posts
    • 2 Thanks
    HITS
    • #6
    • 21st Jun 17, 9:34 AM
    • #6
    • 21st Jun 17, 9:34 AM
    Hi Sourcrates & Fatbelly

    The f/f offer was received from them.

    My apologies for more questions, I am just feeling anxious about this and want to make the right decision.

    If the agreements are supplied for those accounts, what should be my next strategy?

    Do I need to mention anything regarding prescribed terms in the CCA letter?

    Also should I be sending CCA to Amex and Capital One whom I have not been paying and is dormant and heard nothing from? I am concerned they may start chasing me again.

    Many thanks.
    • sourcrates
    • By sourcrates 21st Jun 17, 9:53 AM
    • 12,171 Posts
    • 11,634 Thanks
    sourcrates
    • #7
    • 21st Jun 17, 9:53 AM
    • #7
    • 21st Jun 17, 9:53 AM
    Hi Sourcrates & Fatbelly

    The f/f offer was received from them.

    My apologies for more questions, I am just feeling anxious about this and want to make the right decision.

    If the agreements are supplied for those accounts, what should be my next strategy?

    Do I need to mention anything regarding prescribed terms in the CCA letter?

    Also should I be sending CCA to Amex and Capital One whom I have not been paying and is dormant and heard nothing from? I am concerned they may start chasing me again.

    Many thanks.
    Originally posted by HITS
    (1) then the debt is enforceable, up to you how you proceed.

    (2) no.

    (3) entirely your choice, keep as ammunition for the future should they wake up again.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • sourcrates
    • By sourcrates 21st Jun 17, 9:57 AM
    • 12,171 Posts
    • 11,634 Thanks
    sourcrates
    • #8
    • 21st Jun 17, 9:57 AM
    • #8
    • 21st Jun 17, 9:57 AM
    Lots of good debt info here, compiled by a CAB advisor :

    https://debtcamel.co.uk
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 21st Jun 17, 2:38 PM
    • 11,339 Posts
    • 8,510 Thanks
    fatbelly
    • #9
    • 21st Jun 17, 2:38 PM
    • #9
    • 21st Jun 17, 2:38 PM
    On (3) I think I'd leave Amex alone as it's been 4.5 years since you heard anything. That one might be written off.

    If you've not heard anything from Capital One for a year it's a toss-up whether to leave it or not. Maybe leave it till last and try too sort out the others first.
    • HITS
    • By HITS 21st Jun 17, 3:18 PM
    • 27 Posts
    • 2 Thanks
    HITS
    [QUOTE=sourcrates;72727568](1) then the debt is enforceable, up to you how you proceed.

    If they have the right agreements and it's enforceable, I am concerened that they would come after me and go for CCJ on my file and put me back another 6 yrs. I don't have the funds to pay that off. Would DMP be advisable to stop calls, letters and CCJ anything else you can suggest?

    Thanks
    • HITS
    • By HITS 21st Jun 17, 3:20 PM
    • 27 Posts
    • 2 Thanks
    HITS
    [QUOTE=sourcrates;72727584]Lots of good debt info here, compiled by a CAB advisor :



    Great informative website.

    Thanks
    • HITS
    • By HITS 21st Jun 17, 3:23 PM
    • 27 Posts
    • 2 Thanks
    HITS
    On (3) I think I'd leave Amex alone as it's been 4.5 years since you heard anything. That one might be written off.

    If you've not heard anything from Capital One for a year it's a toss-up whether to leave it or not. Maybe leave it till last and try too sort out the others first.
    Originally posted by fatbelly
    Yes I was thinking of not disturbing Amex too. The only thing I've "heard" from Capital One 6 monthly statement. Does that make the debt "live"?

    Thanks
    • HITS
    • By HITS 23rd Jun 17, 9:30 AM
    • 27 Posts
    • 2 Thanks
    HITS
    Hi Sourcrates & Fatbelly

    I would be very grateful for your feedback on couple of the posts above please.

    Many thanks and it's appreciated.
    • sourcrates
    • By sourcrates 23rd Jun 17, 10:47 AM
    • 12,171 Posts
    • 11,634 Thanks
    sourcrates
    [QUOTE=HITS;72729250]
    (1) then the debt is enforceable, up to you how you proceed.

    If they have the right agreements and it's enforceable, I am concerened that they would come after me and go for CCJ on my file and put me back another 6 yrs. I don't have the funds to pay that off. Would DMP be advisable to stop calls, letters and CCJ anything else you can suggest?

    Thanks
    Originally posted by sourcrates
    Yes I was thinking of not disturbing Amex too. The only thing I've "heard" from Capital One 6 monthly statement. Does that make the debt "live"?

    Thanks
    Originally posted by HITS
    If anything, making a CCA request shows a creditor you are savvy about yours (and there) rights and obligations, and are more likely to treat you with caution because of that.

    However you are correct that agreeing a payment plan stops collection activity yes.

    The likelihood of court action is influenced by many factors, and exercising your rights under the act has no bearing on that one way or the other.

    Creditors are obliged to send you statements at least once a year, again, that is covered under another section of the consumer credit act, failure to provide a statement means they cannot charge interest or enforce the agreement, whilst the breech continues, it has no bearing on the debts enforcability as a whole.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • HITS
    • By HITS 23rd Jun 17, 1:08 PM
    • 27 Posts
    • 2 Thanks
    HITS
    [QUOTE=sourcrates;72737835]


    However you are correct that agreeing a payment plan stops collection activity yes.

    Creditors are obliged to send you statements at least once a year, again, that is covered under another section of the consumer credit act, failure to provide a statement means they cannot charge interest or enforce the agreement, whilst the breech continues, it has no bearing on the debts enforcability as a whole.
    Originally posted by HITS
    Does a DMP with a company make a stronger case to stop collection activity compared to me doing it or does it not matter?

    Can the debt become statute barred if you're only receiving statements and no payments are being made?

    Thanks
    • fatbelly
    • By fatbelly 23rd Jun 17, 1:39 PM
    • 11,339 Posts
    • 8,510 Thanks
    fatbelly
    [QUOTE=HITS;72738501]

    Does a DMP with a company make a stronger case to stop collection activity compared to me doing it or does it not matter?

    Can the debt become statute barred if you're only receiving statements and no payments are being made?

    Thanks
    Originally posted by sourcrates
    (1) Makes no difference. Collection activity stops, court claim is still possible, with either version of a dmp.

    (2) Debts become statute barred if there is no acknowledgement, by payment or in writing, by the debtor or his agent,for 6 years. Activity by the creditor makes no difference.
    • Michaelio
    • By Michaelio 23rd Jun 17, 2:14 PM
    • 9 Posts
    • 30 Thanks
    Michaelio
    I am so thankful that I got here and it is very informative information. Once again thanks.
    • HITS
    • By HITS 26th Jun 17, 10:43 AM
    • 27 Posts
    • 2 Thanks
    HITS
    Hi Michaelio

    I am glad it was of help to you, thanks to Sourcrates and Fatbelly.
    • HITS
    • By HITS 26th Jun 17, 7:51 PM
    • 27 Posts
    • 2 Thanks
    HITS
    Complained to Barclaycard that they should have defaulted me after not making minimum payment on 7 occasions and they agreed. They have requested Link to back date the default to July 2011 which is when the account was passed on to recovery. This means that the default will fall of next month together with all others leaving a clean credit file!!

    CCA sent to the three creditors!

    Thanks again.
    • HITS
    • By HITS 10th Jul 17, 3:14 PM
    • 27 Posts
    • 2 Thanks
    HITS
    Hi Sourcrates and Fatbelly

    Updates:

    Robinson Way - They replied to my CCA request saying that they have requested all relevant documentation and that they have had to cancel the direct debit due to the query on the account.

    Cabot - No reply after two weeks.

    Can you please advise what steps to take next on both of the above.

    Many thanks in advance.
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