Frightened about my future

never-in-doubt

Pixie wrote:

ASDA - credit card - started 15/08/2008
Balance £3619 - 1 month in arrears

This will be enforceable - see point 1 below

Pixie wrote:

Marks and Spencer - credit card - started 30/01/2007
Balance £1397 - 1 month in arrears

This will be enforceable - see point 1 below

Pixie wrote:

MBNA - credit card - started 26/09/2006
Balance £6569 - 2 months in arrears

This is likely to be enforceable - see point 2 below

Pixie wrote:

GE Money - unsecured loan - started 22/10/2003
Early settlement amount £2975 - 1 month in arrears

This is likely to be unenforceable - see point 3 below

Pixie wrote:

Barclaycard - credit card - started 17/10/2000
Balance £4174 - 1 month in arrears

This is 95% going to be unenforceable - see point 4 below

Pixie wrote:

Tesco - credit card (RBS) - started 30/08/1999
Balance £3502 - 1 month in arrears

This is 95% going to be unenforceable - see point 4 below

Pixie wrote:

Capital One - credit card - started 23/03/1999
Balance £0 - Credit limit = £5750

This is 95% going to be unenforceable - see point 4 below

Pixie wrote:

Lloyds TSB - credit card - started 30/06/2003
Balance £2443 - Paid to date - Credit limit = £15000

This is likely to be unenforceable - see point 5 below

Pixie wrote:

Lloyds TSB - overdraft - £1755

This is exempty from the CCA(1974) so cannot be considered - see point 6 below

1. Asda & M&S are likely to be enforceable, due to the account start date. With regards to these, i'd be looking to consider transferring the balances over to the Lloyds TSB card (point 5). This would mean your card balance will increase from £2443 to £7459 (+ whatever fees for the BT's). This would then close these two accounts in their entirety.

2. MBNA could be enforceable, there is no way to tell without seeing it so for the time being i'd need to ask - did you apply online or by signing an application form? This is imperitive - try to remember?

3. GE Money Loan - likely to be unenforceable, however due to the small amount even if it comes back as enforceable i'd not worry too much - we can worry about this later (such as make an offer to settle or default). In the meantime, if you proceed, this would require a CCA Request sending.

4. B/Card, Tesco & Crappy 1 - likely to be unenforceable due to their shoddy business practices and also my past experiences with them. They may well prove to be enforceable, but no harm in sending the CCA Request to see exactly what the state of play is but i'm quite confident that you'll not be worrying about these ever again.

5. Lloyds TSB - this will be unenforceable, this is also the bone of contention from earlier. I propose you BT the balanaces of the two cards in point 1 above to this account thus resulting in your balance being increased from £2443 to £7459 (+ whatever fees for the BT's). You would not be charged with any criminal offence for doing this, my advice right now is to maintain minimum payments on this account for at least 3 months - the reason for doing this is so that it shows the lender you were in a mess and tried to make things right, but couldn't - that, is NOT fraud nor is it deception - and to be frank, it is the truth! However, I need to check - do you have a cheque book for this account, like a credit card chequebook? If so, i'd also suggest you write a cheque to yourself for £5,000 and pay this into a new bank account away from any of the lenders listed above (HSBC or CoOp). You then repay the overdraft in point 6 (below) and use the rest to make the minimum repayments on the Lloyds credit card for a few months.

6. Lloyds Overdraft - Exempt from CCA1974 so needs to be repaid. Use the cash advance of £5,000 from Lloyds Credit card to repay the overdraft in its entirety.

---

I hope the above all makes sense, you'll see i've condensed the info to keep your identity hidden but it is relevant that we can see what we're up against. So, your choices are shown above in the 6 explanations, assuming you're happy to proceed then you will be left with;

- Asda, M&S and the overdraft cleared and closed.
- MBNA, GE Money, Barclaycard, Tesco and Crappy1 should be unenforceable (so we fight these)
- Lloyds TSB to use as parachute account right now however you maintain repayments for a few months before invoking unenforceability - chances are it will be as well

Does all that make sense? I am confused so you must be :eek::eek:

Let me know what you think - i'll be here for a few minutes......

Niddy :D

never-in-doubt

Niddy is headmashed - ooooer, going for a quick cig! :rotfl::D

pixiechick_2

Yep!!! I'm confused!!! :eek: :eek: :eek:

Can you give me a few minutes to look at it? Please!!!

pixiechick_2

Right, let's see if I can make sense of what I've jotted down

1 Asda and M&S I realised that these would be enforceable

2 MBNA I was approached by a rep at the airport as we were departing on holiday - so I guess it's enforceable?

3 G.E. Money I thought that personal loans were enforceable? Could it perhaps be paid off somehow? Not willing to accept reduced payments.

4 B/Card, Tesco & Crappy 1 Nothing owing on Crappy 1 so could it be used for BT? or is that complicating things?

5. Lloyds TSB I realise how this could be a bone of contention. I haven't informed them yet of difficulties in paying/asked to make token payments. No credit card chequebook, they send out credit card cheques occassionally - the last lot expired at the end of April - typical!! Hoping for more soon - fingers crossed. Won't be able to make minimum repayments for 3 months unless I can get hold of credit card cheques. I have just opened a Coop Cashminder account.

At the moment I am on JSA.

Thank you :kisses3:

never-in-doubt

pixiechick wrote: »

Right, let's see if I can make sense of what I've jotted down

I suspect you're confused - I certainly am :rotfl:

pixiechick wrote: »

1 Asda and M&S I realised that these would be enforceable

They may not be, but most likely will be and they can also utilise the copy agreement rule (Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983) which means they can send you a copy and that's it - tough! You have no s.127 protection whatsoever so really, if they can *reasonably prove* you had the account they will win a judgement in court (CCJ). This is in line with CCA2006 amended.

pixiechick wrote: »

2 MBNA I was approached by a rep at the airport as we were departing on holiday - so I guess it's enforceable?

No - that means it won't be - excellent news! :T If you applied online then it most likely would have been enforceable.... those 60 second application forms that the reps filled in at airports are 95% unenforceable, usually....

pixiechick wrote: »

3 G.E. Money I thought that personal loans were enforceable? Could it perhaps be paid off somehow? Not willing to accept reduced payments.

No! They still need to conform with the CCA and in particular contain prescribed terms - loans make a lot of mistakes at times..... I'd not pay it off, its too small which means less like they will ever pursue court action if it was enforceable.... i.e. the case would cost more than any judgement.

pixiechick wrote: »

4 B/Card, Tesco & Crappy 1 Nothing owing on Crappy 1 so could it be used for BT? or is that complicating things?

It will be unenforceable, have you got crappy1 cheques? To write yourself one from that, for £5000? However i'd not BT onto it as it will be unenforceable, especially due to the date - i'm trying to set things up so that you can have debt on one account (Lloyds TSB) and then fight the others- see my logic?

However, if you have crappy1 cheques you could write a cheque for £5k from that and then BT the same £5k back to the Lloyds one... make sense?

pixiechick wrote: »

5. Lloyds TSB I realise how this could be a bone of contention. I haven't informed them yet of difficulties in paying/asked to make token payments. No credit card chequebook, they send out credit card cheques occassionally - the last lot expired at the end of April - typical!! Hoping for more soon - fingers crossed. Won't be able to make minimum repayments for 3 months unless I can get hold of credit card cheques. I have just opened a Coop Cashminder account.

Ok, see above point re: crappy1 - or ring Lloyds and ask if you can have a CC cheque? Is that something they usually do? I don't know - however you'll need to act quick cos they will see no income entering your bank and may reduce limit! :eek:

Hope that helps..... :D

never-in-doubt

Oh dear - have I scared everybody away? :o:o:o:o

mouseann

pixiechick wrote: »

Just for you mouseann x

Thanks Pixie!

This has made my mouth water - and I fancy a slice even more!

Have just had a banana, though!

savingwannabe

Dude you have me, just back from work. Drunk diet coke to stay awake after mowing grass and now awake.

Oi have you rested today?

never-in-doubt

savingwannabe wrote: »

Dude you have me, just back from work. Drunk diet coke to stay awake after mowing grass and now awake.

Oi have you rested today?

You speak like a chav young lady :eek::eek::eek:

:rotfl::rotfl::rotfl::rotfl::rotfl:

pixiechick_2

never-in-doubt wrote: »

Hope that helps..... :D

A little bit...:o

No I haven't any Capital One credit card cheques

So....what can I do given that (at the moment) I don't have any credit card cheques? Do you think it would e okay to phone and ask for some or will it 'flag' something? Also, have I 'damaged' the unenforceability in any way by sending the letters a few weeks ago with my signature?

I had a reduced income the last 2 summers and the credit limit has stayed the same for longer than that. Though the cancelled Direct Debits might give them a clue....?

How much debt do you think I might have left that's enforceable?

Sorry for all the questions