Decided to investigate Unenforceable Route

DNW_2

chanz4 wrote: »

It doesnt make the debt go away, the site shouldnt support this type of issue as its the consumers that pay that are hit the most. If people cant afford look at IVA's bankrupcy or DRO's

We have no disposable income - we are in a shortfall situation on a monthly basis (and with a very strict and basic budget) and therefore can't go down the IVA route and have no way of saving for bankruptcy. DRO wouldn't quite be possible given that the limit is I believe £15k.

mollymaybe

Hi DNW i am in a similar situation to you, just starting sorting out arrangements with my creditors. Our joint debt is about 86,000, awful seeing that written down but the same as you we have paid our dues in interest twice over. Some of our cards are quite old but i am not sure what the unenforceable route does. But good luck anyway, it might be something i will look into myself.

pure_dead_dopey

chanz4 wrote: »

It doesnt make the debt go away, the site shouldnt support this type of issue as its the consumers that pay that are hit the most. If people cant afford look at IVA's bankrupcy or DRO's

so do you believe that every bank and every DCA get absolutely everything right every time?
IVA. bankruptcy and dro are all perfectly legal ways of dealing with debt, so is UE, so what's the difference?

nottoolate

banks will exploit every technicality at their disposal to screw you over if they think they can get away with it

the whole idea of this site is to fight back and stop them. turning the tables if that is possible.

you are bound to get trolls like chanz.

just ignore the pompous idiots and get on with saving money and making sure the banks/dcas dont pull the wool over your eyes

chanz4

No its a valid point It doesnt make the debt go away, dcas should be genuine but look at it from their view. The origional credit didnt get anywhere been nice, so you are not going really respond to it.

nottoolate

their point of view? companies that buy debts for a few per p in the £ and try to con people into paying the full amount?

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

what a muppet

nottoolate

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=39_getting_information_about_your_credit_agreement

http://www.consumeractiongroup.co.uk/forum/showthread.php?105315-Is-My-Agreement-Enforceable-Useful

Naf

DNW wrote: »

Oh don't worry, I'm ready for the bashing - I'm just surprised it's taken until post #7 for it to start

IF i hadn't been laid off, and IF I was able to find another full-time job that fits around my 2 part time ones (or 1 full time that pays more than minimum wage and still allowed me to continue at least 1 of my part timers), and IF my OH (and me part time) didn't work in the public sector and have wages frozen 2 years running despite the cost of living rises then MAYBE we could have carried on robbing peter to pay paul and making minimum payments for the rest of our lives. BUT the creditors that I will be sending CCA requests to, have had a lot more than their moneys worth out of us. Yes we borrowed the money in the first place, and yes we have more than paid the capital spending back.

If people don't like that I'm looking at the uneforcable route then they are more than welcome to simple move along - their posts don't worry me any more than the daily letters from the banks and DCAs do.

Sorry, I didn't intend my post as the start of 'bashing'. I don't agree with doing it that way: default and pay them peanuts before coming to some mutual agreement on a partial settlement figure; this is what I've ended up doing with everything I had two years ago when both my wife and I were let go from our jobs very close together. As to them having 'had their money', charging interest on their money that they can't use for anything else while you have it is how they make money, so suggesting that interest alone covers your debt is nonsense. I didn't come for an argument, I haven't intended to sound judgemental, and clearly others share your view on the issue. I personally don't find it ethical.

Trollfever

Joint Debts of around £80,000 _pale_ And nothing significant to show for it

With £80,000+ of liabilities and no assets I would be spending my time and energy in finding the funds to go bankrupt.

thechippy

Naf wrote: »

Sorry, I didn't intend my post as the start of 'bashing'. I don't agree with doing it that way: default and pay them peanuts before coming to some mutual agreement on a partial settlement figure; this is what I've ended up doing with everything I had two years ago when both my wife and I were let go from our jobs very close together. As to them having 'had their money', charging interest on their money that they can't use for anything else while you have it is how they make money, so suggesting that interest alone covers your debt is nonsense. I didn't come for an argument, I haven't intended to sound judgemental, and clearly others share your view on the issue. I personally don't find it ethical.

I understand what you are saying, BUT you have to know how the banking system works in detail....;)

Good luck with what you are doing..