Scandalous

dtr1001

Hello members, i'm not sure if i'm asking for help or just venting my anger over events of receont months. I work for NHS and my wife has her own business. All of NHS has been indergoing a pay review called Agenda for change and i have been in a cohort of staff that they didnt know what tod do with. Consequently I havent had any pay increase since october 2004. Is that actually legal??

Secondly, my wife has a business in retail and her quarterly sales slumped from £28k to £18k and as you will imagine our income consequently slumped. In July we could see that things werent good so we contacted ocean finance to see if we could get a secured load. We had a perfect credit score that i keep an eye on through my experion account. Well. firstly oceam made a mistake verifying my wifes income from her business accounts and declined our application. I had to get tax returns to prove her income but by that time we had been posted into the declined box and they wouldnt acknowledge that a mistake had been made. The then passed us on to bright finance who pushed our application through three further lenders each one declined. The reason eventually came out that there wasnt enough equity in the house to cover the secured loan. It seems that lenders had begun to value property at 2006 prices so we were stuffed in so far as getting a secured loan was concerned. What is annoying is that they should never have done any credit scores if that was going to be a problem. The second complaint i have is that a MBNA credit card i have has crept from 20% to 34.9% in two years. I pay this weekly and always pay the due amount. However because i pay weekly, i dont always hit the 'payment due date' so i get an overlimit charge and a late payment fee. So despite overpaying the minimum amount due every month, I still have been hit with over £100 in these charges since July. I range them up and complained but got nowhere. Isn't it about time the government got a handle on these interest rates and the extortion of charges owing to the due date not being met!!!

My experion credit score is now 400 and it was 950 in july. All accounts are up to date. What a disaster!

regards

David

Your sympathy would be welcomed.

LinasPilibaitisisbatman

dtr1001 wrote: »

Hello members, i'm not sure if i'm asking for help or just venting my anger over events of receont months. I work for NHS and my wife has her own business. All of NHS has been indergoing a pay review called Agenda for change and i have been in a cohort of staff that they didnt know what tod do with. Consequently I havent had any pay increase since october 2004. Is that actually legal??

Secondly, my wife has a business in retail and her quarterly sales slumped from £28k to £18k and as you will imagine our income consequently slumped. In July we could see that things werent good so we contacted ocean finance to see if we could get a secured load. We had a perfect credit score that i keep an eye on through my experion account. Well. firstly oceam made a mistake verifying my wifes income from her business accounts and declined our application. I had to get tax returns to prove her income but by that time we had been posted into the declined box and they wouldnt acknowledge that a mistake had been made. The then passed us on to bright finance who pushed our application through three further lenders each one declined. The reason eventually came out that there wasnt enough equity in the house to cover the secured loan. It seems that lenders had begun to value property at 2006 prices so we were stuffed in so far as getting a secured loan was concerned. What is annoying is that they should never have done any credit scores if that was going to be a problem. The second complaint i have is that a MBNA credit card i have has crept from 20% to 34.9% in two years. I pay this weekly and always pay the due amount. However because i pay weekly, i dont always hit the 'payment due date' so i get an overlimit charge and a late payment fee. So despite overpaying the minimum amount due every month, I still have been hit with over £100 in these charges since July. I range them up and complained but got nowhere. Isn't it about time the government got a handle on these interest rates and the extortion of charges owing to the due date not being met!!!

My experion credit score is now 400 and it was 950 in july. All accounts are up to date. What a disaster!

regards

David

Your sympathy would be welcomed.

Why would you get sympathy?

1) Yes its legal, you have no obligation to a payrise, unless contractual, what you neglect to mention is that most of those in the NHS whose payrise was frozen where clerical staff and already being overpaid compared to other roles and industries thus the freeze until it comes in line.

2) As has the whole of industry, its part of doing business, and its awful management that your wife hadnt put in place practices to protect against this.

3) You have no right to credit, if a lender doesnt want to lend to you tough, and it is upto them how they choose to lend too.

4) House prices are crashing and houses are not selling because of the credit crunch, its no wonder they had concerns about the equity issue.

5) The profitability of credit cards has fallen and bad debts risen thus the increase rate rises.

6) you signed a contract to make a monthly payment by a due date, its not their fault you ignore the contract and do what you want to do.

Overall you sound like another one of those !!!!!! in society who lives beyond their means, and ignores their legal obligations then expects to be bailed up.

Grow up, live within your means and meet your obligations and you wont have any problems.

Geenie

As a former NHS employee I have sympathy for you, as 4 years without a pay rise seems unbelievable!! I don't know what area you are involved in, but the NHS is so over run with managers, pen pushers and Labours incessant need to waste money on papers, documents and policies, that bogger all is left to pay the staff actually having to work on the floor. Look at your contract to see if this is acceptable, and talk to your union if a member, for guidance as to what you should have been receiving.

I also have sympathy for you not getting a loan. But no one is obliged to lend you money, as hard as that may seem, you have to stop thinking that this is unreasonable, especially if your record of paying back is not good.

As to your MBNA credit card, I don't understand why you are complaining if not paying it at the correct time?!! You state you don't deliver by the "payment due date".....so why are you complaining about then being charged interest etc?!!

dtr1001

...and clearly you must be the sanctimonius type that religiously measures out only just the right amount of cornflakes every day to make sure you do get the 18 servings the packet describes. I've never heard such self satisfied garbage in my life and didn't expect to hear it here of all places.

"Quote ...what you neglect to mention is that most of those in the NHS whose payrise was frozen where clerical staff and already being overpaid compared to other roles and industries thus the freeze until it comes in line..." - absolute fairyland - where do you get your information from?.

I won't tell you what my job is but it's only one of four in the uk it's not clerical. I'm not saying that the process of breaking the NHS into trusts didn't bloat the clerical side but if you want to turn a large machine into hundres of smaller machines, you get duplication and waste. This wasn't my politics and for your information EVERYONE in NHS had their pay frozen pending review. Many are now being paid a great deal more than they were to begin with which rather kills your projection of millions of clerical fat cats skimming cash from the 'poor' health service. You probably think that the only people working in it should be Doctors and Nurses.

I understand that bad debt is causing credit card profits to fall but why should i pay for those who dont pay? I don't live beyond my means - did i say I did?

You completely mised the point. Of course they had concerns about the equity issue. The point is that they should have fired that up BEFORE doing a million credit checks - it was unprofessional.

And as for calling me an !!!!. You know nothing about me and choose to attack me. You should be working for Ocean Finance.

regards

David

dtr1001

Geenie wrote: »

As a former NHS employee I have sympathy for you, as 4 years without a pay rise seems unbelievable!! I don't know what area you are involved in, but the NHS is so over run with managers, pen pushers and Labours incessant need to waste money on papers, documents and policies, that bogger all is left to pay the staff actually having to work on the floor. Look at your contract to see if this is acceptable, and talk to your union if a member, for guidance as to what you should have been receiving.

I also have sympathy for you not getting a loan. But no one is obliged to lend you money, as hard as that may seem, you have to stop thinking that this is unreasonable, especially if your record of paying back is not good.



As to your MBNA credit card, I don't understand why you are complaining if not paying it at the correct time?!! You state you don't deliver by the "payment due date".....so why are you complaining about then being charged interest etc?!!

Geenie - thanks for that more reasoned answer. My record on equifax is 100% satisfactory, no problems with payments there. The problem was the equity and I thought they should have looked at that first rather than sending us the final papers then declining on the basis of equity because ofa change in policy. It was a waste of time. You are right about pen pushers but that was the governments fault, you cannot blame the individuals for wanting to work and being offered employment. The public perception about the NHS will always be that it should only be populated by nurses and doctors as it was in the good old days, (when infant mortality was high and people died when they reached 45).

As for the credit card, i overpay the credit card every month so say they asked for £200 - I gave them £300 its because the payments were weekly they were missing the deadline. It was also the interest rate creeping up that niggled me as my payment record is very good.

thanks for the reply.

regards

David

Mr._H_2

dtr1001 wrote: »

I don't live beyond my means - did i say I did?

Your need for this loan suggests living beyond your means. Your income dropped and your response was to try and borrow additional money rather than reduce spending.

If Ocean Finance sent your application on to other finance companies without you asking them to, then I have sympathy for the detrimental affect this has had on your credit rating. However, this detrimental affect is of a short duration, typically six months.

A bigger problem with the credit rating is your failure to pay the minimum amount on your credit card, resulting in multiple late payments that will show on your credit file for the next six years. I am at a loss as to what you are complaining about here - you failed to pay the minimum amount on time. And clearly you've done it multiple times now - this is even more confusing. Why didn't you change the way you make payments after the first time this happened?

PBA

If your problem on the card is that you're paying weekly, why not make weekly payments in to a savings account and then use the money in there to pay the credit card once a month? That way you'll fall within their T&Cs, so no late fees.

dtr1001

Mr._H wrote: »

Your need for this loan suggests living beyond your means. Your income dropped and your response was to try and borrow additional money rather than reduce spending.

If Ocean Finance sent your application on to other finance companies without you asking them to, then I have sympathy for the detrimental affect this has had on your credit rating. However, this detrimental affect is of a short duration, typically six months.

A bigger problem with the credit rating is your failure to pay the minimum amount on your credit card, resulting in multiple late payments that will show on your credit file for the next six years. I am at a loss as to what you are complaining about here - you failed to pay the minimum amount on time. And clearly you've done it multiple times now - this is even more confusing. Why didn't you change the way you make payments after the first time this happened?

Thanks MR H, although you also seem to be missing the point a little. What happened was that my wifes business suffered in the economic downturn and suddenly there was less money coming in. That isn't "not living within your means", that is being affected by a sudden change in circumstances. We tried to get the secured loan, (And i think it would have been simpler going unsecured) to reduce our monthly outlays and the loan was to be secured on property that previously had equity - OUR EQUITY ie our money!

We are lucky, what about all of the poor devils who are relying soley on self employment or are being made redundant. It was a short term thing we were doing. After all I am waiting for 4 years arrears of pay as a lump sum and a substantial pay rise. At the time it was difficult and it seemed prudent to do what we did rather than run any risk of missing payments. Luckily we have been all right. Regarding the credit card, the weekly payments were meeting the monthly due amount fine until MBNA ramped the rate from 20-34%. I changed the payments but it !!!!es me off that they did that in the first place.

regards

David

Paulgonnabedebtfree

dtr1001 wrote: »

Geenie - thanks for that more reasoned answer. My record on equifax is 100% satisfactory, no problems with payments there. The problem was the equity and I thought they should have looked at that first rather than sending us the final papers then declining on the basis of equity because ofa change in policy. It was a waste of time. You are right about pen pushers but that was the governments fault, you cannot blame the individuals for wanting to work and being offered employment. The public perception about the NHS will always be that it should only be populated by nurses and doctors as it was in the good old days, (when infant mortality was high and people died when they reached 45).

As for the credit card, i overpay the credit card every month so say they asked for £200 - I gave them £300 its because the payments were weekly they were missing the deadline. It was also the interest rate creeping up that niggled me as my payment record is very good.

thanks for the reply.

regards

David

About the MBNA rates. Apparently the 34% rate is reserved for people who they regard as more risky. Even though you have been paying sufficient each month, you have been racking up charges due to the timing of those payments. Therefore, their system will show you as a bad risk on paper even if that isn't the case in reality. Are you in a position to let them do a monthly DD? At least that would be your insurance against late payment fees. In time, that MAY let them view you as less risky.
You say your payment record is very good. Unfortunately, their records won't share that view due to the late payment fees. Looks like you need to do some repair work.
I do have some sympathy as I know from experience how easy it can be to get into such a situation when circumstances change. However, I feel that you need to focus more on how to repair the damage rather than focus on how you've been treated. As someone else said - no-one HAS to lend you (or anyone else) any money if they choose not to.
The main bit I sympathis about is the unnecessary credit checks that could result in making your loan application a problem.

Geenie

dtr1001 wrote: »

Geenie - thanks for that more reasoned answer. My record on equifax is 100% satisfactory, no problems with payments there. The problem was the equity and I thought they should have looked at that first rather than sending us the final papers then declining on the basis of equity because ofa change in policy. It was a waste of time. You are right about pen pushers but that was the governments fault, you cannot blame the individuals for wanting to work and being offered employment. The public perception about the NHS will always be that it should only be populated by nurses and doctors as it was in the good old days, (when infant mortality was high and people died when they reached 45).

As for the credit card, i overpay the credit card every month so say they asked for £200 - I gave them £300 its because the payments were weekly they were missing the deadline. It was also the interest rate creeping up that niggled me as my payment record is very good.

thanks for the reply.

regards

David

David, thank you for your nice reply. There is a lot of anger around at the moment, but please don't let it stop you asking for help on here, as most are very kind and helpful. What people are trying to say sometimes, though not in a way that appears tactful or friendly when stated in this medium, is that we have to look at our actions when problems occur.

Set up your MBNA payments, so that they occur at the right time to not incur any penalties......a Direct Debit. It is a fact that if you borrow money from a bank, interest will have to be paid if you don't repay the full amount straight away.

As to the NHS and people dying at 45!!!! What era are you talking about here as sounds like something from a Dickens novel!! I started my training 1978 and was an SRN when I passed 3 years later. I can say with hand on my heart, I would rather have been a patient in that time and the 80's, then what I have seen in recent times in my top of the league hospital! Hospitals need doctors, and nurses who nurse not paper chase.

Paulgonnabedebtfree

dtr1001 wrote: »

Thanks MR H, although you also seem to be missing the point a little. What happened was that my wifes business suffered in the economic downturn and suddenly there was less money coming in. That isn't "not living within your means", that is being affected by a sudden change in circumstances. We tried to get the secured loan, (And i think it would have been simpler going unsecured) to reduce our monthly outlays and the loan was to be secured on property that previously had equity - OUR EQUITY ie our money!

We are lucky, what about all of the poor devils who are relying soley on self employment or are being made redundant. It was a short term thing we were doing. After all I am waiting for 4 years arrears of pay as a lump sum and a substantial pay rise. At the time it was difficult and it seemed prudent to do what we did rather than run any risk of missing payments. Luckily we have been all right. Regarding the credit card, the weekly payments were meeting the monthly due amount fine until MBNA ramped the rate from 20-34%. I changed the payments but it !!!!es me off that they did that in the first place.

regards

David

Aaaaaaaaaaaaaaaaarrrrrrrrrrrrrggggghhh !!
You said the "p" word (prudent).

Look where "prudence" has got us all.