Oh God No!!!!!

youareallhelpingme

We have 2 accounts with Cap 1, one has already passed to DCA even though we were paying. If you say unenforceable what happens if you refuse to pay anymore. sorry to hijack thread.

Me x

System

May I just add, and dont wish to provoke any offence, but I am sure I have loads of CCAs like this, but I want to honour my debt as much as I can. I'm not interested in saying the agreement is not valid and therefore not enforecable which they may not be, but I feel shirking my responsiblilites to repay the debt is dishonourable; a tad hypocritical considering I have had my interest frozen and have entered in to a DMP where in the early stages I was not meeting the minimum payments. I suppose what I am trying to say is if we all try and bail out, and leave more and more consumer debt unpaid i.e. leaving more blacks holes for the banks to deal with, the more we, the economy, may suffer. Did that come across right?

GeorgeUK

I understand what you are saying Lenny. If we took the money, we should pay it back, otherwise we will all suffer as a result of thousands refusing to pay back debts.

I agree with this in principle, but alot of the time the banks have already sold the debts on to DCA's so any money you pay will not go to the banks. Some DCA's pay as little as 10p in the £1 for these debts.

Yes, you should pay what you borrowed
BUT
Not at the expense of losing your home.

If you have debts that are enforcable, pay these off first and then you can repay the debts that are unenforcable. If you are struggling to meet bill payments and a DCA is hassling you to increase what you are already paying when you know the debt is unenforcable, who should get priority. For me that's what it comes down to - priority.

If a bank has made unlawful penalty charges against you and are not giving you a refund, but also wanting you to repay credit, why should they get away with breaking the law, but you are not allowed to apply the law when it suits you?

Everyone will have a different way of balancing this stuff, but that's my take on it.

System

GeorgeUK wrote: »

I understand what you are saying Lenny. If we took the money, we should pay it back, otherwise we will all suffer as a result of thousands refusing to pay back debts.

I agree with this in principle, but alot of the time the banks have already sold the debts on to DCA's so any money you pay will not go to the banks. Some DCA's pay as little as 10p in the £1 for these debts.

Yes, you should pay what you borrowed
BUT
Not at the expense of losing your home.

If you have debts that are enforcable, pay these off first and then you can repay the debts that are unenforcable. If you are struggling to meet bill payments and a DCA is hassling you to increase what you are already paying when you know the debt is unenforcable, who should get priority. For me that's what it comes down to - priority.

If a bank has made unlawful penalty charges against you and are not giving you a refund, but also wanting you to repay credit, why should they get away with breaking the law, but you are not allowed to apply the law when it suits you?

Everyone will have a different way of balancing this stuff, but that's my take on it.

Ahhh, now he sees the light. I see what you mean now. Thanks George