write off credit card debt

Susie56

A BUSINESSMAN who had his credit card debts made unenforceable has waded into the consumer credit debate.
A dozen test cases were heard last week in Manchester to establish what obligations lenders have when trying to press for repayment of unsecured debt.
Banks were trying to claim they should be exempt from certain parts of the Consumer Credit Act, such as providing a copy of terms and conditions.
But Paul Collins, 47, says banks should not be given an easier time. He was harassed by debt collectors chasing a £2,700 balance on his credit card, money which he had used to give cash flow to his flooring business, which had hit hard times. Mr Collins received daily phone calls and letters asking him to pay up, which, although perfectly legal, put him and his family through trauma. They also threatened to repossess his home.
He successfully saw off the credit card company after challenging the debt with MSB Solicitors, who are also handling one of the 12 cases in Manchester.
Mr Collins, who was receiving cancer treatment at the time, told LDP Legal: “They were aware of my condition and at no time was I allowed to make a small payment to keep things going. They were relentless.
“You’ve got to experience it to realise how much pressure they put you under.
“I hope that they don’t win. God forbid they do. In my mind, if that actually happened, it would be economic meltdown because there’s so many people in debt you would see people on the streets.”
Mr Collins had his debts declared unenforceable in June. He was represented by MSB’s head of consumer credit, Joanna Connolly.
Of the cases in Manchester, Paul Bibby, MSB’s managing partner said: “This is not about people trying to evade paying money that is owed, it is about making sure lenders, large, sophisticated financial institutions organisations, comply with legislation laid down by Parliament for the protection of the consumer.
“The financial penalty laid down by Parliament for their failure to comply with the legislation is that the lenders with the legislation lose the right to enforce the agreement.”
Mr Bibby also said he is optimistic his firm’s case – Carey v HSBC – will succeed. A judgment is expected before Christmas.

never-in-doubt

Susie56 wrote: »

A BUSINESSMAN who had his credit card debts made unenforceable has waded into the consumer credit debate.
.

Please stop spamming the threads with this :mad:

You're duplicating a link already posted! #110

http://www.liverpooldailypost.co.uk/liverpool-news/regional-news/2009/12/08/ldp-legal-businessman-who-had-credit-card-debts-made-unenforceable-wades-into-the-consumer-credit-debate-92534-25342593/

jamesey07

best to keep trying so you don't have to pay anything back i'm trying to do this at the min, i owe 10k and hopefully won't have to pay a penny back manicmum jealousy gets you no where

never-in-doubt

jamesey07 wrote: »

best to keep trying so you don't have to pay anything back i'm trying to do this at the min, i owe 10k and hopefully won't have to pay a penny back manicmum jealousy gets you no where

LOL< talk about lighting the blue torch paper...... ;)

Duke203

ManicMum wrote: »

Sorry but is it me but does anyone else find it morally wrong that you can rack up credit card debts and then try to wriggle out of them by saying agreements are unenforceable? Even if that is true, it surely can't be right that the rest of us are paying off our debts on our cards or not buying things in the first place to run up these debts? How right is it that you can spend what you like then just think it's ok to get it wiped out? I think that's disgraceful.

You seem to have accidentally bought 'morality' into a discussion about banks. Easily done though...

An interesting case here anyway. Is it fair that my bank should be charged £1,250 (my cc balance) just for making a simple, innocent mistake? Is it fair that just because it was written in the Act of Parliament, then I can take a huge amount of money from them and then say they should have read the T&C's? Is it fair that I should get free stuff while other, more unfortunate people, pay thousands?

I don't think it's fair, but of course nothing in banking is fair, so to hell with them

~Brock~

michaelvintner wrote: »

If 1000 people send me £400 thats a cool £40000 for me but I have done sod all.

I take it that maths was never your strongest subject?

never-in-doubt

~Brock~ wrote: »

I take it that maths was never your strongest subject?

:rotfl::rotfl::rotfl:

Maybe he needs to add an oh!

ManicMum

jamesey07 wrote: »

best to keep trying so you don't have to pay anything back i'm trying to do this at the min, i owe 10k and hopefully won't have to pay a penny back manicmum jealousy gets you no where

Erm, jealous? Jealous of you that you are 10k in debt? Yeah, that's right - I think not. Jealousy (if that's what you think) may get me nowhere but nor will your 10k debts. Only thing it's looking like getting you is a CCJ and poor credit history. At least I can sleep at night knowing I don't have people chasing me.

What I think you will find is that people like myself and my husband who work hard to buy things, who have been brought up to believe that you should live within your means, who are supporting millions of countless people who lay about all day watching Jeremy Kyle or whatever, are incensed when others try to take the decent majority for a ride. Should I go to the supermarket and steal something and then say it's ok because they didn't catch me?

face up to your responsibilities instead of trying to worm out of something because you spotted they missed out a full stop at the end of the third sentence of the second paragraph. Pathetic.

ManicMum

Now, there are some other posters on here who seem to think they are superior because they have detailed knowledge of the banking system and seem to want to cut anyone out of discussion who has less knowledge than them. To me, this is arrogance. Why are other people's opinions any less worthwhile? How undemocratic of you. This is a forum for the general public not a refuge for expert opinion and arrogant twonks.

jamesey07

manicmum i'm not gonna be in 10k debt because i doubt very much i'll be paying any back and i can sleep perfect at night to, i have changed all my numbers, and address so i don't have to worry about any debt ppl, and yeah sure even if they do cath up with me what r they gonna do? take me to court? haha even if they do they'll still NOT be getting any money, they'll prob just charge ppl like you more intrest, here anyway why r u having to get into debt? sure if your so riteous can you not save up for items? therefor u wouldn't have to worry about ppl who try not and pay there debts back, after having fun with all the credit cards, so yeah manicmum i can sense some jealousy from you, i bet you wish u had the guts not to pay back, infact i would say your SEETHING, it's great, if you have a credit card before 2007 i would def rec trying and getting out of paying what u owe, i am and i LOVE it