Scandalous

LinasPilibaitisisbatman

dtr1001 wrote: »

...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

You are one sad bitter man.

You have no justifiable moans, and its all your own fault.

As for being one of four in the UK , so what, you could be a cleaning manager, and be one of four because they are getting rid of the rest because its a pointless job.

Mr._H_2

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.

Don't get me wrong. I have sympathy with you that your circumstances changed suddenly. That really would suck and I hope it doesn't happen to me. But the fact of the matter is, your income (your means) has reduced and your need to take out a loan does imply living beyond your means. You didn't say in your original post whether or not you've made meaningful efforts to reduce your outgoings.

You say that this loan should be a short-term thing, but can you be sure? Will your wife's business improve? How do you know? Will you get your payrise? Certainly, you shouldn't rely on a payrise coming if your contract doesn't explicitly say you're going to get one.

All I'm saying is, it may be painful but maybe you'll have to look at drastically reducing your spending? Or perhaps not as you say now you are "alright".

dtr1001 wrote: »

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.

Did they send you a letter or otherwise inform you that the interest rate was increasing? If not then you have a legitimate complaint and should formerly do so, going all the way to the financial ombudsman if necessary.

However, in your original post you state that you've had in excess of £100 of charges, since July. Both the amount and the timeframe imply multiple late payments and you can only blame yourself for not realising earlier.

Finally, having a balance on a credit card that you can't pay off in full and that isn't stoozing suggests that perhaps you were living beyond your means before these recent troubles. Why are you only paying the minimum amount on a credit card with an interest rate so high (it was high even before the recent increase)?

YorkshireBoy

Mr._H wrote: »

However, in your original post you state that you've had in excess of £100 of charges, since July. Both the amount and the timeframe imply multiple late payments

At £12 each, it would require 9+ charges to exceed £100...and July was only 5-6 months ago.

The speed with which "over £100" has been racked up would indicate there are some 'over limit' charges as well, which may go some way to explaining the leap to 34.9% APR.

dtr1001

LinasPilibaitisisbatman wrote: »

You are one sad bitter man.

You have no justifiable moans, and its all your own fault.

As for being one of four in the UK , so what, you could be a cleaning manager, and be one of four because they are getting rid of the rest because its a pointless job.

What a !!!!!!. You sound like the Daily Mirror.

dtr1001

Do you guys here always ignore the points being made and concentrate on how many points you can try to score?

The interest rates rose before july, and were not caused by underpayment.
Ocean finance's procedures dont work in favour of protecting a persons credit score.
LinasPilibaitisisbatman is an ignoramus.

regards, finally

david

Martin, you should audit your channels.

ragingbass

I'll throw in my 2 cents......

dtr1001, I can see why you'd be a bit miffed at not getting a payrise and getting charged a higher interest rate, but I really can't see anything wrong with what anyone's done there? As recession really hits next year, there will be a lot of pay freezes and even salary reductions. There's no law that I know of that says your salary always needs to go up? And it'll get much worse if inflation does actually turn into deflation!

The flavour of your posts does suggest you have a mentality of spending future earnings and I think it's a dangerous thing to assume you'll be getting any payrise, let alone a backdated one. But, that's just the flavour of your posts and I appreciate may not be accurate.

Anyway, one of the best pieces of advice I ever got was when I was a few years younger and getting annoyed and heated with a particular institution. A mentor of mine simply shrugged his shoulders and said "just play the game". Those simple words changed my outlook on life, for the better. So my advice to you would be the same, know the rules and play the game.

Firstly, you pay off the credit card weekly and say that you overpay, but by their rules, you don't. They say pay the minimum of £x by such a date in the month, so why don't you set up a direct debit to take that amount? Then, anything additional is a bonus. If not, at the very least work out each month how much you need to put in each week and, very important, make sure you hit the minimum by the date specified! It's your responsibility to do this and if you don't start doing it, then you can have no complaints if they actually increased your interest again.

Secondly, I'd suggest moving your credit card balance to a 0% card, but it sounds like the credit scoring's taken a hit so this may not be a viable option? So, I think it's got to be good old fashioned budgeting. Analyse all of your outgoings and see what you can go without. Mobile phone contracts, gym memberships, take aways, nights out etc. Aggressively pay off that debt and scrutinise every penny that goes out every week. Prepare for the worst i.e. what if your wife's retail sales go down further? Or what if the business goes completely under? If you don't, the risk is that you'll be paying off the minimum on that 34.9% credit card for a very long time!! Or worse.

Lastly, get yourself over to the Debt Free Wannabee board and check some of the posts on there to see how other people are managing their debt. There's loads of good stuff on there from large to small.

Hope that helps

normanmark

dtr1001 wrote: »

What a !!!!!!. You sound like the Daily Mirror.

If you're looking for sympathy still, you're definitely going the wrong way about it.

Neillgb

With regard to MBNA I would have suggested you call them and ask nicely to have the rate reduced, many others have on this website and been sucessful
, however because of your payment record I doubt you will be successful.

The other loan issues are entirely your fault. Your payment record is awful. You are therefore a bad risk.

With regard to your pay I am pleased your pay has been frozen because I want to pay less tax. Unless you are a nurse you are probably overpaid anyway. If you are unhappy with your pay I suggest you look elsewhere.

Mr._H_2

dtr1001 wrote: »

Do you guys here always ignore the points being made?

It would appear that it's you ignoring the points being made.

Taking all your posts together, they smack of someone burying their head in the sand. You need to face the facts: you've got a significant credit-card debt at a very high interest rate, your credit rating is shot to pieces and your income has fallen dramatically. You need to wake up now and cut your spending. There is plenty of help available here but only if you first admit to yourself that you need to make changes.

Having said all that, maybe there's more information you've not provided that mitigates all this. But from your posts so far, the paragraph above is how I see it.

Paul_Herring

dtr1001 wrote: »

Consequently I havent had any pay increase since october 2004. Is that actually legal??

Perfectly.
You may, however, want to have a word with your union, or start looking elsewhere for a job.

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.

No 'rainy day' money saved up from the 'good times'? No 'emergency fund?'

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.

With all due respect, with a 'perfect' credit score, Ocean Finance should be one of the last places you should be going to for a loan.

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.

1) Go through Ocean's complaint procedure, if you think you'll get anywhere.
2) Did you actually (verbally or written) agree to the checks by Bright+3?

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.

Given the fact that house prices are in decline at the moment, you'd be stuffed if they were using 'today's' prices anyway.

What is annoying is that they should never have done any credit scores if that was going to be a problem.

Equity was a problem/looked at, because you were looking for a secured loan. Had you been after an unsecured loan, equity wouldn't have figured.

The second complaint i have is that a MBNA credit card i have has crept from 20% to 34.9% in two years.

You are not alone in this. All the card companies have been raising their rates, quite a few recently.

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.

You should put the money aside weekly and make one payment before the due date. Ideally you should have a DD set up.

So despite overpaying the minimum amount due every month,

.. but you just admitted you don't: 'i dont always hit the 'payment due date' so i get an overlimit charge and a late payment fee.'

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!!!

Once you get into the position that you can pay, without fail, the minimum amount, by the date set, and not go over your limit, then you can probably ask this, but (sadly) not before.

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

Your 'experian credit score' is only an indication/guideline, and is not to be confused with whatever internal credit score some other institution may come up with for your circumstances on that particular credit report.

In addition, not all institutions use experian, there's equifax as well (and call-credit, but I don't personally bother with them.)