CCA's enforceability etc....

noah271007

wherestheend wrote: »

the charges the DCA's charge are out of order, the company I now work for was 2 weeks behind on the rent and the landlord sent a bayliff in, the rent was £1045 in arreas ( 1 months rent) and the bayliff charged over £700 for the visit, when the boss said she would pay 1/2 then and another 1/2 in 2 weeks they went away with the 1/2 in cash but said if the other 1/2 is not paid on time then it would be another £700 in charges for another visit, this should be illegal !!

That is outrageous!! £700 quid for a visit???? That is 75% of one month of rent!! I think they should be reported for their excessive charges! :mad:

epsilondraconis

Hackneygirl wrote: »

that is so evil - talk about hit you when you are down

all these parasites are making money out of unfortunate people - why charge them hundreds of pounds they just don't have

Are you following me?

Oh well, I'm off to watch match of the day in a bit, I'm not really getting enough work done here. Take care Hackneygirl - no hard feelings eh.

noah271007

epsilondraconis wrote: »

I guess it all stems from the banks lending irresponsibly anyway. Had they not originally lent to those that clearly would struggle to pay it back, they wouldn't be passing on so many accounts to debt management companies. If they were passing on less accounts, perhaps they would be more inclined to work with the customer to find a way where they could pay it back (whilst also not charging crazy amounts of interest for one missed payment).

I think we're all saying the same thing here. If the banks were more willing to work with the customer in the hard times, they would get back a lot more money.

I don't know epsilondraconis, but i seem to be on the same wavelength as you! Another excellent post! Unfortunately as much i hate to say this, DCA industry are booming!!

wherestheend

I agree and I can see how it would be open to abuse, after my business went my IVA offered 32% and was rejected by the HSBC who 1 week later lowered their acceptance to 20% was to late for me as the IVA had been rejected. I think if proper a investigation was done by the bank or credit card company first and the person was clearly having problems then this should be an option before selling it to a DCA. I have never missed a payment in 25 years of credit does that mean anything to them no, they are still repo my home after 20 clean years.

wherestheend

I agree but who do you report them to ?

epsilondraconis

wherestheend wrote: »

I agree and I can see how it would be open to abuse, after my business went my IVA offered 32% and was rejected by the HSBC who 1 week later lowered their acceptance to 20% was to late for me as the IVA had been rejected. I think if proper a investigation was done by the bank or credit card company first and the person was clearly having problems then this should be an option before selling it to a DCA. I have never missed a payment in 25 years of credit does that mean anything to them no, they are still repo my home after 20 clean years.

This appears to be the perfect example of where the system lets people down. I'm perhaps naive, but before I started reading these forums, I just assumed that the FSA would be responsible for ensuring that common sense prevails; however it seems that isn't the case. Ever since the city traders could see how they could personally make huge bonuses by packaging and selling on debt, it seems the man in the street has lost out.

Unfortunately I can only sympathise with you wherestheend. I hope things work out for you...

noah271007

wherestheend wrote: »

I agree and I can see how it would be open to abuse, after my business went my IVA offered 32% and was rejected by the HSBC who 1 week later lowered their acceptance to 20% was to late for me as the IVA had been rejected. I think if proper a investigation was done by the bank or credit card company first and the person was clearly having problems then this should be an option before selling it to a DCA. I have never missed a payment in 25 years of credit does that mean anything to them no, they are still repo my home after 20 clean years.

That is so cruel! You must be seething with anger after what happened to you!! How come you ended up in that position? Lost job? Banks and DCA are very ruthless and they don't care about anything as long they get the money. If you look at the whole picture, we are in fact mugs - cash cows slaves.

Enlightenment

Hackneygirl wrote: »

that is so evil - talk about hit you when you are down

Exactly, and it's usually those who cannot afford it that they put charges and high interest on the accounts, making them go over the limit and then charging them again for that. Their interest and charges should not be allowed to exceed the credit limit or planned overdraft limit, just like when you make a purchase and it will take you over your limit.

It would solve a lot of problems if when they notice people are not paying their debts because of lack of funds or are paying smaller amounts to contact them before it got worse and explain what they could do to help, saving their customer a great deal of stress, which is maybe leading to more time off work.

I also agree that you should be offered a reduced payoff, what they would sell it to a DCA before they sell it on and a payment scheme being set up if a debtor cannot afford to pay the whole lot at once.

If I added up the interest they have charged, plus the charges I would imagine the debts would be paid off.

wherestheend

I had a business that was doing very well and my bank told me that it was now classed as high risk so my overdraft was to be called in, it finished my business within 2 weeks and put my 15 staff out of work, I had personally guaranteed the overdraft and loans that I had taken out to build the business up over the years. I have no sympathy with the banks now, who bailed by business out, nobody!!!

epsilondraconis

wherestheend wrote: »

I had a business that was doing very well and my bank told me that it was now classed as high risk so my overdraft was to be called in, it finished my business within 2 weeks and put my 15 staff out of work, I had personally guaranteed the overdraft and loans that I had taken out to build the business up over the years. I have no sympathy with the banks now, who bailed by business out, nobody!!!

The worst thing is that the government are the ones that keep banging on in their speeches about how they are promoting small businesses and entrepreneurs. Yet, when it comes down to it, the small businesses are simply left to wither and die. I'm not having a go at this government in particular, although since Labour has been in power the tax legislation has become very complicated. I just think more could be done to help companies when they need it.

As the tax payer now part owns certain banks, I believe this would be a great opportunity for the current government to say to small businesses, "we are no longer prepared to let profitable small businesses go under". To stop more small businesses going to the wall as in the case of wherestheend, they could send out a business link type person to assess the business needing help. If genuinely the business is profitable, I believe they should put pressure on the part-owned banks to lend them the money that they require, or at least stop them from taking away the vital over draft facilities. I'm not saying they should keep pumping money into failing businesses; however there are too many cases such as wherestheend's for my liking...