Without a paddle... support for anyone starting a DMP in 2010 (part2)

mikon

pure_dead_dopey wrote: »

Morning guys

Mikon if Next/Moorcroft will not play nicely you have to report them to the OFT and the FO. That's what these guys are there for and you have to utilise the protection you have. All creditors and DCAs work on the premise that you are scared and pretty ignorant (which most of the public are when it comes to debt), the way to beat them is knowledge knowledge knowledge. They can't do very much really and rely on sending scary letters to get you to scurry about in a panic, don't do it, read stuff up and react in a calm and assertive way, debt is NOT a criminal offence, if they take you to court they don't prosecute you, its a two way process, you get your chance to give your version and there are thousands of winners out there.
I have reduced my debt by using UE, DH and I have had 5 creditors admit they have no CCAs, they can moan and groan and write letters and sell them on and jump up an down but they will NOT get a judgement against us while they have no CCA and have admitted it. That is how UE works, others don't have CCAs either but are very loath to admit it, one forged a CCA, a couple are just ignoring us completely. This is how it works and when these debts have fallen off our credit report they will be gone for ever, no arrangements to pay for 10 years, no late defaults, just gone in five years (6 in England and Wales).

Got to run, off up North

Pure Dead Dopey

My understanding of UE is that if the creditor cannot provide an original copy of the credit agreement then they cannot take court action that is what is meant by unenforceable. The debt will not be written off so I am a bit puzzled as to how you have achieved this?

I have provided the press statement issued by the OFT. I am certainly interested to know how you got the debt written off and which companies did this or are you just refusing to pay the debt on the basis that the company cannot take court action? I would certainly like clarification on this point if you would like to share it with me.


Press releases 2010 -

Consumers warned on 'unenforceable debt' claims


105/10 16 October 2010

The OFT is warning consumers that businesses that claim to be able to use sections 77/78/79 of the Consumer Credit Act 1974 to wipe out their debts are misleading them.

The OFT has today published a guide on the rights consumers have to request information under these sections of the Act. This explains that for a fee of £1 consumers can request a copy of their credit or hire agreement and information on their account so that they can find out:

what was originally agreed
what the agreement is now (if it has changed)
how much is still owed.
If the lender fails to provide the requested information the agreement becomes 'unenforceable' which means the lender cannot get a court judgement against the borrower, take back hired items or items bought on credit, or take anything used as security (like a car) when the agreement was made.

However, the guide warns that, even if a credit or hire agreement becomes 'unenforceable', consumers would still owe any outstanding money to the lender, interest could be added to their loan or hire agreement, default charges could be made, and any failure to pay could impact on their credit record. The guide also explains that the debt is enforceable again as soon as the lender provides this information.

Ray Watson, Director of the OFT's Consumer Credit Group, said:

'Consumers have a right to information on debts they owe, but it is important that they realise that these sections of the Act cannot be used to write off legitimately owed debts.

'Although the debt can be classified as unenforceable until the right paperwork is provided, people are encouraged to seek advice and help on how they can continue to repay the money they owe. Consumers can get free advice on debt by contacting Citizens Advice or the Consumer Credit Counselling Service.'

END


I look forward to your suggestion as I am keen to look down this avenue. However I do feel it will be a pointless exercise.

Regards

Mikon

Shyguy19

Hi guys,

The last few days have definately made an interesting forum and given me even more to think about.

An update on my side is that all creditors recieved letters a week ago but no one has contacted me by phone or post. Think that this is down to the fact that most of them recieved their monthly payment. Presume they will realise more next month.

But, to be honest I can't believe how much better I feel now that its started, and been a bonus that i've done some overtime this week to go into savings.

Nice to hear your views on Mikon's DN - as far as I understand my credit rating is knackered now anyway, but I know I will be debt free far sooner that the rest of my family and freinds.

Enjoying the posts,

Take care all

Shyguy19

Professor_Pat_Pending

mikon wrote: »

Pure Dead Dopey

My understanding of UE is that if the creditor cannot provide an original copy of the credit agreement then they cannot take court action that is what is meant by unenforceable. The debt will not be written off so I am a bit puzzled as to how you have achieved this?

I have provided the press statement issued by the OFT. I am certainly interested to know how you got the debt written off and which companies did this or are you just refusing to pay the debt on the basis that the company cannot take court action? I would certainly like clarification on this point if you would like to share it with me.


Press releases 2010 -

Consumers warned on 'unenforceable debt' claims


105/10 16 October 2010

The OFT is warning consumers that businesses that claim to be able to use sections 77/78/79 of the Consumer Credit Act 1974 to wipe out their debts are misleading them.

The OFT has today published a guide on the rights consumers have to request information under these sections of the Act. This explains that for a fee of £1 consumers can request a copy of their credit or hire agreement and information on their account so that they can find out:

what was originally agreed
what the agreement is now (if it has changed)
how much is still owed.
If the lender fails to provide the requested information the agreement becomes 'unenforceable' which means the lender cannot get a court judgement against the borrower, take back hired items or items bought on credit, or take anything used as security (like a car) when the agreement was made.

However, the guide warns that, even if a credit or hire agreement becomes 'unenforceable', consumers would still owe any outstanding money to the lender, interest could be added to their loan or hire agreement, default charges could be made, and any failure to pay could impact on their credit record. The guide also explains that the debt is enforceable again as soon as the lender provides this information.

Ray Watson, Director of the OFT's Consumer Credit Group, said:

'Consumers have a right to information on debts they owe, but it is important that they realise that these sections of the Act cannot be used to write off legitimately owed debts.

'Although the debt can be classified as unenforceable until the right paperwork is provided, people are encouraged to seek advice and help on how they can continue to repay the money they owe. Consumers can get free advice on debt by contacting Citizens Advice or the Consumer Credit Counselling Service.'

END


I look forward to your suggestion as I am keen to look down this avenue. However I do feel it will be a pointless exercise.

Regards

Mikon

Hi Mikon, interesting, dark stuff. I think there is a loophole around this that Niddy and the dark side guys have found but I have no idea what or how it's done?

I don't think I will go there purely because I couldnt put myself or my family through the barrage of threatening letters, calls, etc, even if it is just posturing by the creditors. Personally I like the F and F stuff and the idea of knocking them off one at a time, but hey........

However, if you've got nothing to lose, been screwed by your creditors and/or are made of strong stuff then it's the way to go, the forum is full of success stories but there's also a lot of very stressed postings.

Horses for courses I reckon? PP

Professor_Pat_Pending

Have a read of this.................

http://www.bbc.co.uk/news/business-13349239

Professor_Pat_Pending

...............but on the flip side look at this....

http://www.godwins-law.co.uk/news.php?id=223

Professor_Pat_Pending

tedsd wrote: »

Thanks Prof, interesting reading - knowing my luck, if I went UE, the creditors would find the agreement after 5.5 years and I'd owe that plus another 5.5 years interest! So far my creditors have been supportive - will re-assess my situation after my review next month.My salary has incresed but so have my petrol/food costs etc, if I can break even I will be happy for now.

Indeed, the thought of having it over your head for 6 years is a bit of a nightmare :eek:
It's quite good for F and Fs though, but I'm quite happy at the mo and I reckon I'll be down to £27k (halfway) by Xmas, lower payments equals more money for F and Fs.

Professor_Pat_Pending

Get into the F and Fs, they are very addictive. I've sold so much stuff on ebay in the last few months-all to fund them.
Including a broken dishwasher for £1.04.........:rotfl:

mikon

Prof PP

I am like you and tedsd I have not got the bottle to start challenging creditors down the UE route. Whilst I have investigated the route I have racked up the debt so wan tto pay it. It is comforting to know that if they have not got the CCA then they cannot go down the court route and its always something that can be used as a leverage when negotiating a F & F.

Its Tuesday and I have no money left in the bank pay day is Friday so this week is going to be tough. I will be ringing CCCS next week to do a Review and will be reducing my payments substantially.

I owe HFC £60 what do you think I should offer them on a F & F any ideas?

Mikon

Professor_Pat_Pending

mikon wrote: »

Prof PP

I am like you and tedsd I have not got the bottle to start challenging creditors down the UE route. Whilst I have investigated the route I have racked up the debt so wan tto pay it. It is comforting to know that if they have not got the CCA then they cannot go down the court route and its always something that can be used as a leverage when negotiating a F & F.

Its Tuesday and I have no money left in the bank pay day is Friday so this week is going to be tough. I will be ringing CCCS next week to do a Review and will be reducing my payments substantially.

I owe HFC £60 what do you think I should offer them on a F & F any ideas?

Mikon

Yep, I am with you on the moral thing, my debt, I should pay it, etc, etc. But only if I am allowed to pay it, some of these stories re. interest still being charged are making my blood boil.:mad::mad:

Re. F and Fs, I have always started at 20% and gone from there, not sure how it would work with small amounts though? PP

mikon

Running out of money before pay day is tarting to cause stress an arguments between me and my other half and she is not responsible for the mess but she takes the flak off me.

I need to do my review sooner rather than later. I wish someone would tell me of their experience of reducing payments to creditors. I know I just need to do it but I am trying to gauge how much I can get away with.

If I am truthful I overstretched my self at the beginning of the DMP to try and pay as much as possible to the creditors hoping they would not give me any grief. The reality is I should have reduced my original proposal and with hindsight and the knowledge I have now I would do it differently and ensure I had money spare to put in an emergency fund for F & F.

This is what I am going to do now reduce my payments by £150 - £170 per month I know this will extend the DFD but I hope to claw this back by the money saved on F & F payments, pay increases over the years but ultimately ensuring we live realistically instead of just surviving which is what we are doing now.

Not a good day for me but I need to do something and also the knowledge that I have gained over the past couple of days on UE has eased my worries about ending up in court. Whilst I don't know how many of my creditors have the original CCA I am confident that the majority will not have them.

Well that is my rant over, my other half is not speaking to me so its a quite evening for me I guess.

Mikon