Financial abuse on a platinum credit card

jezzablack

When i was 19 i applied for a platinum Credit Card and got accepted. They issued me with a £10,000 Credit card.
Now my brother who just had a second child wanted to lend a few thousand pounds off me.
He didnt stop pestering me and ended up borrowing about £9000 off me, he was paying the minimum payment every month.
Anyway a year later the card expired and i got a new card with a £15,000 limit on, take away the £10,000 already owed on it and he borrowed that aswell. I can only say bully tactics!
Im now 28 and dont have anyway of paying this debt off, i have a CCJ because of it and still live with my mother.
However Lloyds TSB offered me a 10% settlement a couple of years ago which said would be available if i payed it in seven days. unfortuatly i was out of work and couldnt borrow that money off anyone. (yes i told my brother and he wasnt interested)
For years this debt has affected my mental health and i do not know who to turn to.
Does anyone know if their might be a chance of the bank offering me this settlement if i asked my bank manager? I still have the letter and just want it gone.
It has driven me insane and dont know where to turn, their is no way i can pay back the £15,000 especially as i didnt even spend it?
Aany advice would be greatfully taken on board.

Thanks

izools

First to clear up a few things:

1. You chose to apply for the card
2. You chose to accept the limit and not request it be decreased
3. You chose to accept the increase to 15K and not request it be decreased
4. You chose to lend money to your brother
5. You spent the money - on your brother

The debt stands, it is your responsibility. Thinking about it any other way is simply lying to yourself.

To answer your question, debt collection agencies often accept reduced full and final settlements. Just call them and offer a figure. If they accept it as F&FS make sure you get it in writing from them before parting with any cash.

If they dont, continue making your minimal affordable monthly contributions.

BTW, it would never have gone to CCJ if you were open and honest with the bank about your financial circumstances and played the game every step of the way making affordable monthly contributions toward the default.

Probably a troll post anyway, but just in case this isn't, there you go.

[Deleted User]

check out debt relief orders on the debt free wanna be board,might be an option?

jonesMUFCforever

Declare yourself bankrupt. That way the debt will go away and you stand no chance in the foreseeable future of getting any new credit.

jezzablack

izools wrote: »

First to clear up a few things:

1. You chose to apply for the card
2. You chose to accept the limit and not request it be decreased
3. You chose to accept the increase to 15K and not request it be decreased
4. You chose to lend money to your brother
5. You spent the money - on your brother

The debt stands, it is your responsibility. Thinking about it any other way is simply lying to yourself.

To answer your question, debt collection agencies often accept reduced full and final settlements. Just call them and offer a figure. If they accept it as F&FS make sure you get it in writing from them before parting with any cash.

If they dont, continue making your minimal affordable monthly contributions.

BTW, it would never have gone to CCJ if you were open and honest with the bank about your financial circumstances and played the game every step of the way making affordable monthly contributions toward the default.

Probably a troll post anyway, but just in case this isn't, there you go.

Definatly NOT a troll post, and if you new my brother i think you would be abit more curtious, I was lied to and even suffered phsical abuse!

diable

I'd give your brother a good kicking if I was you.

Or to the Police as you where coerced in to handing over money.

izools

jezzablack wrote: »

Definatly NOT a troll post, and if you new my brother i think you would be abit more curtious, I was lied to and even suffered phsical abuse!

If that is the case why are you living with him?

He's committed theft and common assault / ABH.

Report the crimes he has committed.

Sounds like a nasty position to be in, but now that a CCJ has been granted against you there is nothing that can be done to shift the debt other than pay it off, or declare yourself bankrupt. As harsh as it sounds, I still stand by my suggestions. You could have gone to the police instead of the cash point, and you could have called LTSB to reduce the limit instead of blabbing about your massive limit.

But it's done now, and the only thing that can be brought to justice is the crimes that your brother has reportedly committed against you.

Hax

jezzablack wrote: »

Definatly NOT a troll post, and if you new my brother i think you would be abit more curtious, I was lied to and even suffered phsical abuse!

Who cares about you being lied to? That's an issue you need to take up with your brother. As for the physical abuse, you should have gone to the police about that.

Also, when you could see things getting out of hand, you should have called the card issuer and asked them to cancel the card to prevent you getting further into debt.

End of the day, the card was given to you and it's use was your responsibility. The banks won't care about sibling rivalry.

jezzablack

izools wrote: »

If that is the case why are you living with him?

He's committed theft and common assault / ABH.

Report the crimes he has committed.

Sounds like a nasty position to be in, but now that a CCJ has been granted against you there is nothing that can be done to shift the debt other than pay it off, or declare yourself bankrupt. As harsh as it sounds, I still stand by my suggestions. You could have gone to the police instead of the cash point, and you could have called LTSB to reduce the limit instead of blabbing about your massive limit.

But it's done now, and the only thing that can be brought to justice is the crimes that your brother has reportedly committed against you.

Calling the police wouldnt of done me any favours, not when you have to deal with someone who is on steroids on a day to day basis. i have suffered alot with deppression with all this. and i have finally faced the fact that i have been conned! financial abuse does come under domestic abuse i have looked all over the inernet for people who have been in the same position as me, ive only found out storys regarding people ripping off the elderly.
The 10% payment offered by lloyds was about 2 years ago im hoping to meet with my bank manager soon and see if i can get that arrangement again.

jonesMUFCforever

jezzablack wrote: »

Calling the police wouldnt of done me any favours, not when you have to deal with someone who is on steroids on a day to day basis. i have suffered alot with deppression with all this. and i have finally faced the fact that i have been conned! financial abuse does come under domestic abuse i have looked all over the inernet for people who have been in the same position as me, ive only found out storys regarding people ripping off the elderly.
The 10% payment offered by lloyds was about 2 years ago im hoping to meet with my bank manager soon and see if i can get that arrangement again.

The bank manager will not be able to offer you any deal - all they will do is sit you in a room and telephone the Collections dept. and hand the phone over to you.
You can save your bus fare and do that from home!

INT1

Declare yourself bankrupt as previously said.