My Debt

UKTigerlily

Well, I got my first CC aged 17 (Yes, 17! They sent me an application form in the post, I didn't ask them too it just turned up, I filled it in, didn't lie about my DOB & voila) & i'm now 27 with more debt than I can cope with. My problem is, will CCCS be able to help me? I called them the other day & have booked a telephone interview, but 1) How much do you need as a minimum to pay each month? & 2) I've buried my head in the sand so much I don't know account details or anything! I did get my Experian credit report the other day, which shows four debts & I'm awaiting my Equifax one anyday, but will they be able to help? The debts listed on my Experian report have a link to the address of the companies under useful links or something. Hope someone can advise

tesuhoha

i dont know about any of this Tigerlily but im sure some advice will be along soon. How much do you owe? I wish you all the best and hope you manage to sort it out.

UKTigerlily

I have no idea, alot of my debts were over 6 years ago, I wish I could have details of them all. I know I had the following:

Lloyds Bank Mastercard CC - Limit £500
Barclaycard Visa CC - Limit £1,000
Capital One Visa CC - Limit £200
Abbey National Bank Loan - £1,000
2 x Mobile phones, amount unknown
2 x mail order catalogues, amount unknown
Debenhams Store Card - Limit £400
New Look Store Card - Limit £250
Argos Store Card - Limit £100
Natwest Bank owed around £280
Welcome Finance Loan - £1,500
Mango Book Club - Over £100
Britannia Music - About £70

& lots more, but lots over 6yrs back, all way over the credit limits too :!!

amosworks

If you were 17 when you signed it (however that happened) you might find that the original credit agreement is invalid and not legally binding because it was signed by a minor and thus all your debt can be wiped out on a technicality?

amosworks

(...and I would like to add that if that is the case I would max out all your cards on buying all the things you want before you raise the issue However, do check the legalities of the original agreement BEFORE doing that lol...)

Iona_Penny

Fistly, well done for posting here, admiting your situation and trying to get help to sort out your debt. You will get some of the best suggestions here

Well I think you need to sort out as much paperwork as possible, get you credit files and really try to sort ur EXACTLY what you owe. Follow up the possible invalidity of the original credit agreement if you were only 17 (sorry, do not know the situation but wonder if you will be held resoponsible for knowing you were under age? or will not be liable because you were under age?!! sorry confusing ME!)

But I will say that I am HORRIFIED by Amosworks suggestion of maxing out any remaining credit 'incase' it turns out you are not liable. This will not help you situation or change behaviour that has got you into this situation but shows a certain mind-set of some people.

amosworks

Hey no that's not a bad suggestion. If it turns out that the OP isn't liable for the debt on a technicality, then why not use any remaining credit to pay off any debts that the OP is liable for after signing valid agreements. IE use the first card to pay off the others.

I don't know if you noticed but on the left of the entire forum page there is a big stamp with CONSUMER REVENGE written in it. This sounds like some pretty good consumer revenge to me!

beverleyhills

Well done for finding the courage to face up to your debt.

Iona_Penny wrote:

Well I think you need to sort out as much paperwork as possible, get you credit files and really try to sort ur EXACTLY what you owe. Follow up the possible invalidity of the original credit agreement if you were only 17 (sorry, do not know the situation but wonder if you will be held resoponsible for knowing you were under age? or will not be liable because you were under age?!! sorry confusing ME!)

Be brave keep going and get as much information as you can about your debts. Write it down as part of the statement of your financial affairs which includes your income and living expenses.

Keep posting and good luck.

Iona_Penny

FRAUD : use of false representations

I am all for OP finding out if they are liable for this debt, but while persuing this lead if they then add to debt...? I am not sure of legal position and this doesn't sit comfortably with me in a moral sense and don't feel it is what Martin would mean by consumer revenge, but each to their own.

Chortle_2

Sounds more like loosely veiled fraud than "consumer revenge" to me Amos :rolleyes:

If the CC company realised she'd done that, and then tried to wriggle out of the agreement on a technicality, do you not think they'd fight it all the harder?

Fair enough, she was a 'minor' when taking the CC out, and it appears she was honest with her DOB on the forms, so there was no deceit on her part, but I suspect she'd have a fight to get any debt incurred after her 18th birthday wiped off.

I am sure there are a few people on here who will argue that any debt incurred on an invalid agreement is null and void, and they may be right, but I wouldn't advocate Amos's suggestion at all. I'm quite disgusted tbh. There is such a think as taking 'consumer revenge' too far in my book.

amosworks

lol I'm all in favour of it but of course, not getting caught for it. I spend 24x7 getting screwed by companies wanting my money, I really have 0 problems playing the system, even if it is walking a very fine line morally and legally.

I suppose it's up to the OP how much debt there is the lengths they are prepared to go to clear it. Most people would of thought suing their banks was like some kind of fraud several months ago.

Some people get out of debt of the statute barred technicality when it's 6 years old, is this not fraud too then? When it comes to credit card companies, my heart doesn't exactly bleed for them.