Panorama Tonight - BBC ONE, 8.30pm

stapeley

If the banks can get away without paying millions of unfair and unjust charges back they will . This will be despite the Office of Fair Trading saying these charges are unjustified. In good times they have no hesitation in paying themselves millions in bonuses . They will tell you it was in the terms and conditions you agreed to when opening your account . I would say if they did not comply to the correct format when issueing a CC AGREEMENT they cann,t complain now its gone tits up!

blind-as-a-bat_2

The bottem line is if creditors where more willing to help when people got into dificulties then these 'loopholes' may never have come to light...........

And if a tradesman does there job wrong (bad workmanship etc) would you pay them? They still spent money on meterials etc.............

If the banks etc where not so arogent, and believe they are above the law they would have stuck to the legaslation and not allowed this loophole to develope..........


there are all sorts of angles you can take in the way you look at this, but Goode said it himself, the CCA act is meant for consumer protection, so if a debtor turns to it because the creditor wont act reasonably thats one thing, but turning it into proffit making bussiness is another.

But you could argue its a fine line whichever way you look at it

Andys1

Well, I personally feel we have to confer to the 'letter of the law' so in turn, those laws need to be spelt right so to speak. If there is 'loop holes', it works both ways, including how certain DCA's hound people for money without actually proving beyond doubt the debt is actually valid.. and do it in such a manner they think they are acting within the law.

blind-as-a-bat_2

Andys1 wrote: »

Well, I personally feel we have to confer to the 'letter of the law' so in turn, those laws need to be spelt right so to speak. If there is 'loop holes', it works both ways, including how certain DCA's hound people for money without actually proving beyond doubt the debt is actually valid.. and do it in such a manner they think they are acting within the law.

Did you mean 'do it in such a manner they make the debtor think they (the DCA) are acting within the law'?

DCA are fully aware of the laws, but egnore them because no one is willing to enforce them fully or consistantly

blind-as-a-bat_2

guyb99 wrote: »

] "However, the British Bankers' Association warned that the costs of borrowers failing to pay their debts will be passed on to other customers.
"It is unfortunate when some people look to the loopholes to get out of credit agreements... because the money that they don't repay has to be repaid by the rest of us," it said.

Well what do you expect the bank to say heaven forbid that even though it is there c0ck up, that they should pay for it by losing there big fat bonuses:rolleyes:

LittleCharlie

guyb99 wrote: »

Kids can't eat or wear morals.

But then again, kids shouldn't be taught it's right to steal either. It doesn't matter if you're stealing from a neighbour or a big faceless corporation, it's still stealing.

I can't believe people think it's ok to run up 100K of debt, then try and sneakily get out of it through the back door. Good on the judge for charging them the court costs, then shouldn't be allowed to have all that stuff for free. That's ten years wages for some of us. Boy, what could I buy with ten years wages!

lunar

my feelings on this are i spent it, i will pay it. i dont think i could sleep at night if i got it written off, i would feel like i was steeling. when i am debt free it will be because i have paid back every penny and i am proud of that fact. i think the judge did the right thing in charging this family the court cost. I dont want to teach my son that steeling is ok.

poppy10_2

Preview here:
http://news.bbc.co.uk/1/hi/programmes/panorama/7711471.stm

blind-as-a-bat_2

Creditors are using tougher tactics to make debtors pay back their debts - with a recent surge in applications for charging orders.

These court orders enable lenders to secure bad debt on plastic and on loans against borrowers' properties.

When unsecured loans become attached to the sale of a house, the debtor is obliged to pay off a chunk of the debt if they ever sell up or re-mortgage.

However, some lenders are now unwilling to wait, and are applying for an 'order for sale' which forces the property-owner to sell up straight away and pay off their debt from the capital.

Im glad to see this being highlighted in the program.

I hope it goes far enough to expose DCA,s for what they are as well.

pamril1

Interesting viewing regarding lending instituations, DCA's and consumers.
1st Credit were named and shamed for their actions :T :T