Brogden's Debt Disaster & Self Managed DMP!

January2015

Brogden wrote: »

Fifteen predators have been slayed during the course of the DMP.

Couldn't help myself Brogden - that's just what sprang to mind from your words.....I will forever see you as a knight on a charger slaying those predators (aka) Dragons now

January2015

Brogden wrote: »

CCA (Consumer Credit Act 1974)……thanks for asking……….unlike my pensions passion, I cannot get passionate about this at all BUT I have requested the agreements and accompanying paperwork for each of these five debts. Two are patently enforcable …..the thre others …….well……who knows? How long? What do I then do? Well I have exmined my own moral compass and that points to ‘not’ walking away but I am increasingly finding this subject to be very difficult to discuss and probably wish I hadn’t………..I’ll say no more for now .

My moral compass is rapidly turning to the 'do not pay if unenforceable' direction. I know that's somewhat frowned upon by some, but I am the one who has to live with my decisions - no-one else. I am also considering a ridiculourly low offer to clear the one debt that may be UE - say 10%, but this is more about not faffing around with the argument than wanting to take any moral stance about repaying the debt.

OMG - how my morals have [STRIKE]slipped[/STRIKE] changed in the last fifteen months;)

Brogden

January2015 wrote: »

Couldn't help myself Brogden - that's just what sprang to mind from your words.....I will forever see you as a knight on a charger slaying those predators (aka) Dragons now

Thank you Jan - fantastic imagery :T.....................

Is that you stood by the tree watching? - the lady does look like she's examining her moral compass :rotfl:!!!!

Brogden

January2015 wrote: »

My moral compass is rapidly turning to the 'do not pay if unenforceable' direction. I know that's somewhat frowned upon by some, but I am the one who has to live with my decisions - no-one else. I am also considering a ridiculourly low offer to clear the one debt that may be UE - say 10%, but this is more about not faffing around with the argument than wanting to take any moral stance about repaying the debt.

OMG - how my morals have [STRIKE]slipped[/STRIKE] changed in the last fifteen months;)

To be honest, I don't think your morals have slipped or changed .

I guess that just like me you came to be in a postion where you studied something that had never before entered your mind. Debt needed to be thought about and actions taken. From all of your posts I can see how mega-serious you are and that fills me with respect .

Some people may frown.......you can try to explain your feelings but minds may be closed because they didn't study the subject, didn't understand and paid everything in full out of ignorance. They then tell the world how morally robust and superior they are. If they had educated themselves a little then things may have been different and so would their stories as money (saving it) speaks very loudly to most people !!

It is very difficult to have sympathies with banks BUT in law a company is effectively a person and if the debt remains with the bank then the 'principle' of paying everything back is obviously reasonable. However, the bank will concede ............freezing of interest and F&F's/P&F's are all concessions. Ask any educated banking professional and they will tell you that there is no difference between capital and interest. It is one and the same. There is no point in telling me how highly principled you are once you have fought to receive a freezing of interest. The fact is......the debtor has breached their agreement and is not then paying what they signed their name to pay. Being as 'naughty' as this, might they now just as well offer an F&F or go the whole way and CCA? :rotfl:

Whilst I have obviously accepted concessions from banks, to me it is where the debts are sold that absolutey everything changes and the moral compass then swings violently :eek::eek: !!

Here is my example of something that is very old, very worn out and I really wonder if the world would expect me to have this as the pinnacle of my moral priorities:-

11 (yes 11) years ago I opened a credit card account with a CC subsidiary of an insurance group. The account was always kept up to date and a couple of years later they sold their CC business to a high street bank and the name and branding changed to that of the new proud owner. I remember the announcement letter saying 'we understand you may be disappointed.' :rotfl:Well.....I didn't ask for that - they just did it......:mad:

I then ran into a 'debt disaster' and the high street bank appointed a debt collection agency whom I should now correspond with on all matters. Well.....I didn't ask for that - they just did it......:mad:

Behind the scenes the high street bank then sold the debt to a debt purchasing company (OK.....that's the PRAT Group) but I was to continue paying and corresponding with the debt collection agency. Well.....I didn't ask for that - they just did it......:mad:

All of this is morally very, very poor me thinks but it is, of course all allowed in the agreement and is all in accordance with the laws of the land.

What is also in accordance with the laws of the land is for me to request a copy of the agreement to establish if this irritating old thing is enforcable. So.......the collection agency have to request this of the debt purchasing company who then have to request this of the acquiring high street bank who then have to request this of the original credit card issuer......:rotfl: I myself requested this early in January. The collection agency advised 'all on hold' and so far nothing..................

Something has to give in cases like this. We do have a life but we are ordinary people and we need to do the right thing for our futures. We do not want to be morally bankrupt but NOT ONE PENNY of what I may now pay is going back to the person who loaned it to me. If I happily pay the whole lot this is not and cannot be 'paying back every penny I owe.' This principle is GONE / DEAD / NEVER TO RETURN.

All the best for Monday everyone .

Puzzcat

Oh Brogs you are a handsome devil......!!!

Still slaying those creditors with your big sword..:rotfl:

Hope all is good in the brogs household. I appear to have temporarily lost the PRAT... they did come back to me with an agreement following my cca and have now disappeared again as I requested a default.. oh well I'm sure they will pop up again, along with my new friend Lowell who have just taken over another of my debts but made no contact...

Keep smiling..:D

Love Puzz. x

January2015

Brogden wrote: »

Thank you Jan - fantastic imagery :T.....................

Is that you stood by the tree watching? - the lady does look like she's examining her moral compass :rotfl:!!!!

Alas dear Brodgen, tis not I stood by yonder tree - that fair maiden may be examining her own moral compass (ooo err!), but she cannot be I for if twas I, I have lost not only my moral compass but a shed load of weight as well:rotfl:

Historybuff

Hi Brogden and Puzzcat, I think I may have a similar PRAT thing going on. I haven't done a CCA yet, but I might try it after reading your posts. I've heard nothing from them since I sent them another p and f offer.
I'm having an bout of insomnia in case you're wondering why I'm up at this ungodly hour...

Brogden

Puzzcat wrote: »

Oh Brogs you are a handsome devil......!!!

I am aren't I? Do you like my hair do?

PRAT, PRAT, PRAT.........I am going to have to study PRAT a bit more closely I think.......they have sent Mrs. B something but sort of admitted they haven't complied with the CCA request properly......I don't know where this will go......Simply I will be taking action on the enforcable bank-owned debts first.....and then taking my time I guess.......:o

My 'second cousin twice removed' debt with PRAT, well......I don't know waht will come to be there at all........take my time Pt II I think

Brogden

January2015 wrote: »

Alas dear Brodgen, tis not I stood by yonder tree - that fair maiden may be examining her own moral compass (ooo err!), but she cannot be I for if twas I, I have lost not only my moral compass but a shed load of weight as well:rotfl:

Alas fair maiden I thought twas thou !! Forsooth she be forlorn awaiting responses from her predators. She will rejoice when the messenger arrives .

Brogden

Historybuff wrote: »

Hi Brogden and Puzzcat, I think I may have a similar PRAT thing going on. I haven't done a CCA yet, but I might try it after reading your posts. I've heard nothing from them since I sent them another p and f offer.
I'm having an bout of insomnia in case you're wondering why I'm up at this ungodly hour...

I hope you've had a good sleep since then HB.

I am the first to admit that I don't know where all of this CCA stuff will go or should go !!

If you have a mind to HB, having seen what I have seen and learned (with the help of all on here) what I have learned........I would send a CCA request to PRAT on that debt. I think it is likely they will write back to say they will cease collection activity until they comply with the request ie. you don't need to pay them :o!!

If you are paying them a lot each month you could use that to increase your P&F fund?

If they comply / when they comply / what will happen........I don't have a clue as you can see from my mumblings here .

I do find all of the CCA stuff very odd I have to say BUT if it helps us plan something else while they look in drawers and behind radiators for your CCA agreement then let's be opportunistic !!

I have said it before but will say it again. I am GOBSMACKED at the generally complacent, cowboy-sloppiness of the DCA's. It is their problem but the risks they take :eek: (only worrying about them.) Can we believe they part with millions to buy debts without wanting to see enforcable agreements from the seller :eek: ??

Their problem !!