One Debt you wish you didn't agree / sign / didn't do!

Deela_2

How does it work if you have an overdraft on your account and you want to reclaim your bank charges will they close your account and ask for funds back????

hypno06

Mrs_Sparkle wrote:

I wish I'd never taken out a £16K loan with Egg to consolidate my CCs. Less than a year later I was in even bigger trouble. I wish I'd found this website at the time instead of rushing into a loan. That's one mistake I won't be repeating!

Egg for me too. Had a nightmare with them when they mistakenly referred my account to a DCA who proceeded to call me every day for three months "just to see how I am getting on" while Egg got their act together and got the account back. As a result, I am still trying to get Egg to sort my credit ref because it says that I have an arrangement on this loan. NOOOOOO - EGG MADE A !!!! UP!!! This has been going on for over a year now so would have to say that this is my biggest regret, ever taking it out in the first place. Would love it to be gone, but it is at a fairly low APR, so others need to take priority. However, I will be cracking open a very expensive bottle of something when it is cleared!

hypno06

Deela wrote:

How does it work if you have an overdraft on your account and you want to reclaim your bank charges will they close your account and ask for funds back????

Nip over to the "reclaiming your bank charges" board and they will be able to give you loads of help. Otherwise, have a look on the Consumer Action Group Website, they have loads of information that you will find really useful.

Good luck, I am sure you will be fine. For what it is worth, I had an overdraft, claimed my bank charges back and they have just paid it into the account with no problem at all. No mention of closing the account or anything.

loneranger

Tracey173 wrote:

A car - financed by Yes car credit - don't even have the car now due to illness but still owe over £5,000 on it:eek: I wouldn't mind but it kept breaking down & cost me a fortune in garage bills. Brought a £250 fiesta to replace it & its turned out to be my best ever buy - never breaks down & really cheap to run.

Wow Tracey, my story almost exactly except my £250 car is a VW. I would be interested to know how many of the Yes car credit cars had this problem, mine had major problems and they and the warranty company found excuse after excuse as to why they were not liable for repairs and I was too green to argue at the time. Also most of the £5k I owe seems to be for ineffective payment insurance cover.

Becles

MBNA

I had a substational balance with them on 0%. I missed a payment as the statement never turned up and I never noticed

When the next statement came, I was ill and when I paid it, they payment arrived 2 days late. I did ring an apologise and explain the situation.

Then I got a snotty letter saying that as I was in financial difficulties, they were cancelling my 0% interest rate, blocking my account and putting me on a higher interest rate. I complained and said I wasn't in financial difficulty, I'd just been ill, but because someone had logged me as being in financial difficulty, I couldn't have it removed.

Then they gave me a serious of hoops to jump through to get my 0% interest rate back. I did everything as instructed, but they just kept making more and more demands and it was obvious I was never going to get my 0% interest rate back.

I opened a new card, transferred the balance and told them to stick it.

Lesson learned was to always set up a direct debit for the minimum repayment so if the statement doesn't arrive, or you are ill, at least the payment is collected.

giftbouquets

I know you said mortgages not included :rolleyes: but I have remortgaged my house twice to consolidate cc'c and loans. Worst financial decision I ever made. Was in the process of doing it again until I discovered this site:eek:

savvykaz

Worst thing we ever did was consolidate our debt with a secured loan with FIRSTPLUS!! in 2004. Since joining this site I can see this was foolish but at the time it seemed the best thing for us. Will be paying it off until 2014!:eek:

itsarichmansworld

Black horse secured loan of 10k on the house I regret the secured part....

before mse never fall back into that trap!

immoral_angeluk

Car loan (Even though we didn't have much other choice as my car nearly didn't make it to the car place!).. we're paying 24.1 APR so even though the car was only 4995, with the interest we're paying over 7k... :eek:
But we have a safe, reliable car... and compared to my old car that's worth the money in itself, especially with our 2nd child on the way!

Broken_hearted

I've already had my go but also regret taking out a loan for £5,000 with a sub prime lender. First they charged a £500 fee, then they keep putting the payments up every couple of months. So for £4,500 we are paying over £8,000 and its secured on the house. Thank god I've never missed a payment, its £90 a time in charges if we did.