Panorama Tonight - BBC ONE, 8.30pm

stapeley

I would also point out that investment bankers loaned out billions to other dodgy fat cats , and earned millions in bonuses . There are thousands of investment bankers out there with three or four cars,luxury city pads and holiday homes . PAID FOR BY WHOM ? You and me . If these banks are a few million short one month , they are lent it by the government with tax payers money . If I get paid late on a job and cant meet a monthly DIRECT DEBIT, what do the bank do ? They bounce the payment , and send me a letter on a 10p piece of paper telling me they are charging me £35 . I complain , they say , " we will send you a copy of our terms and conditions " WELL FORGIVE ME BUT ! There is a ACT OF PARLUMENT CALLED THE CONSUMER CREDIT ACT 1974 . It was drawn up to protect the consumer and the creditor , it has a set of rules to be followed some clear some not . Follow its criteria and you are protected . DO NOT AND TOUGH SH-T !

pepe2008

jinny wrote: »

Well I did'nt sign up for unsecured debts to turn into secured debts. I'm a can't pay and I would love to pay off what i owe, but i just can't. I'ts very scary to think dca's can take your home from you. This cannot be right is the finacial ombudsman not getting involved. That bloke who had other properties, has done us no favours.

DCA still has to get past a Court. An Order has to be made, that Order must go into Default for any further action to be taken.
If you are on a dmp then you have taken 'reasonable steps' and are 'doing all you can', this sits very well with a Judge.
Occasionally DCA will threaten a Statutory Demand in attempt to bypass this process and in an attempt to get a Charging Order......worth nothing unless you have minimum 50% equity and very expensive to take to the next level of Banruptcy or Forced Sale. FS are very rare.

Bambywamby

I borrowed it...and I am paying it back. No it's not easy...yes I am going without...but it was my choice to spend it. I can't and don't preach a moral high ground coming from the same position as many on here.

I am sympathetic to anybody who is financially struggling but not those that say "None of it's my fault, it's those robbing banks etc".

People still need to accept their part in their financial problems, yes the moneylenders are all grabbers/legalised robbers/and profiteers and most of us know this when we eagerly take the cash they offer at ridiculous rates of repayment.

This site and this board are truly wonderful and I personally condemn no one on it.

pepe2008

Bambywamby wrote: »

I borrowed it...and I am paying it back. No it's not easy...yes I am going without...but it was my choice to spend it. I can't and don't preach a moral high ground coming from the same position as many on here.

I am sympathetic to anybody who is financially struggling but not those that say "None of it's my fault, it's those robbing banks etc".

People still need to accept their part in their financial problems, yes the moneylenders are all grabbers/legalised robbers/and profiteers and most of us know this when we eagerly take the cash they offer at ridiculous rates of repayment.

This site and this board are truly wonderful and I personally condemn no one on it.

thats why we have dmps, to pay it all back....reasonably, and within the capabilities of the debtor.
However, I owe the Original Creditor not a circling vulture! So thats when the CCA request goes out....if I am successful then more of my money is used to repay those Creditors who are being reasonable.

thanks for your post bambywamby.

stapeley

Broken_hearted wrote: »

Since they havn't provided it and the debt is still being paid, you are still wrong.

Until you lose your job or become insane ( not far to go there ) joking ! :rotfl:

10past6

pepe2008 wrote: »

I owe the Original Creditor not a circling vulture! So thats when the CCA request goes out....if I am successful then more of my money is used to repay those Creditors who are being reasonable.

And that's the only reason I request a CCA, I have several creditors who've been very reasonable with me, and I've not requested a CCA with them, however, 2 others have been a nightmare with their threats and intimidation.

I've CCA'd them and no CCA can be produced, funny that, because as they know no CCA is available they've left me alone, although I've continued to pay them, difference being, I pay them what I want and no what they want.

themagics

10past6 wrote: »

And that's the only reason I request a CCA, I have several creditors who've been very reasonable with me, and I've not requested a CCA with them, however, 2 others have been a nightmare with their threats and intimidation.

I've CCA'd them and no CCA can be produced, funny that, because as they know no CCA is available they've left me alone, although I've continued to pay them, difference being, I pay them what I want and no what they want.

we too have only ccad the unreasonable ones still awaiting one day to go no cca's arrived yet

savingholmes

Hi - I think the whole issue of debt is very complicated. I have never defaulted on a payment and all being well hope to be CC debt free within about 18 months. This assumes we keep our jobs. I'm not following Martin's advice totally about throwing savings at debt as I think there is a high chance one or both of us could lose our jobs so want to ensure we can meet at least the minimum payments if the worst happens - that way we can keep all our 0% interest deals.

I do sometimes get very saddened by the difficult situation people on here have and at other times I feel angry at what others consider necessities that come above debt payment. However I know I am speaking from a relatively privileged position as some of the people I feel tempted to judge may not have my advantages in life in terms of education and opportunity and in terms of the credit aprs they get offered.

One of the ways I have come to terms with some of the won't or can't pays on the site is to consider whether if they had been offered the same interest terms as me whether or not a) they have already repaid the original debt one or more times and b) whether they could have avoided the problems they are in if they had also been offered 0% for the cost of a 3% balance transfer fee. Hopefully I will never need a dmp - partly cos with 0% deals I can get the benefit of frozen interest without going down that route... I know not everyone else has that option...

I think it comes back to the saying we need to walk a mile in someone elses shoes before we can even think of judging them...

raq

yeap i was another who watched this programme. Huge eye opener. I got into this debt and will definately get out of it one day.

Still in shock though that Birmingham couple had £100k just wiped away.

mummum2

raq wrote: »

yeap i was another who watched this programme. Huge eye opener. I got into this debt and will definately get out of it one day.

Still in shock though that Birmingham couple had £100k just wiped away.

Yeah they did, but now have the same amount to pay back in legal fees. BEING TOO GREEDY DOES NOT PAY!!!! Karma is a b%%%h!! and really now we all will have to pay the price of their greed as creditors will become more ruthless by way of charging orders and possibly making people homeless.