DMP & Mutual Support Thread - Part 11

Puzzcat

blisteringblue wrote: »

January, you are more badass than me these days :rotfl:

Good news on the CCA, even though I am an equal badass I don't like CCA's though. I don't know, you know you owe the money but are wriggling out on a technicality.

At the end of the day you still owe this money, it will still be on your credit file. It only means the predator cannot take you to court to get you to pay.

Great if you are using this to negotiate F&F, but those who take nonenforceable to just stop paying full stop sorry can't sign up to that.

I have one pre 2007 account, which I could go down the CCA route but they defaulted me right away and I spent the money so they can have it back at the 0% they charge me now.

I do agree with you BB but I am also well aware like January of the huge amount of interest we have paid over the years.. one of my debts is 19 years old.. can you imagine how many times I would really have paid that off without all the interest hikes... So I am planning a few CCA's on old debts but strongly suspect if they were by chance unenforceable I will still pay them.. maybe not as much as they would like though..... naughty puzz....

Love Puzz. x

sourcrates

You usually read posts like this from people who have not experienced a particularly hard time with there debts.

Must admit the road is a lot less Rocky these days, what with recent FCA rule changes on affordability, but it's not always been that way, and for some it still isn't.

Some people get a really rough ride, threats and intimidation are par for the course.

so if a creditor can't comply with a simple task like producing a piece of paper, then in my book they have lost all credibility and don't deserve to be paid !!

Brogden

I understand everything said by everybody here on the CCA issue. Everybody is saying the same thing really.

It is true and I have seen it a million times in life that the most gentile person can turn completely 'bad !!!' when it comes to a matter of money. To be a devils advocate, the interest argument doesn't, to me really stack up. We did sign an agreement for 'revolving credit' and we accepted the lenders discretion to be able to move interest rates against us whether or not the CCA can stand up in court or not. We all then messed up !

I am very 'luke-warm' on the whole subject to be honest BUT I have made enough complaints and twisted the blade a few times with enough predators so I might as well use this ammunition too if I am able .

I will tell you what I believe is the 'element' which effectively may make this activity excusable in the eyes of the lord . If I owe the Gnat's Vest then I owe them and that's that. They lent me the money. If, however I take the example of my old 'MoreThan' card.....they sold their credit card business to Lloyds. I didn't ask for that. I didn't ask for green letters marked with the pesky Black Horse to be coming through my door. I then got into financial troubles and Lloyds sold to PRAT. Who are they? I didn't ask to be dealing with them. Now.......what service have PRAT afforded to me? The initial lender sold me on. Would any of us sell one of our friends for a short term 'cash-in' (don't answer that )

OK....I am now dealing with a firm which is a speculative chancer which has provided no service to me at all and whose presence I did not request. Somehow this state of affairs does water down the idealist principal of 'paying back what we owe.'

I've rambled enough but I do think it is where debt has been sold that we have a greater right to be a little less pleasant and co-operative than we might otherwise be......?

BeingDebtFreeStartsHere

Sazzie23 wrote: »

No problem answering that, though I did have to hit the spreadsheets to work it out , 0.5% £18 on debt of £3500.

I can't actually recall what they did about the reduction, I wasn't in a fit state to discuss it so I just ignored everyone and kept paying through SC. I think they threatened to default me :T.....

Thanks so much Sazzie

BeingDebtFreeStartsHere

Evening everyone

Just a quick query - with SC can you amend your direct debit before the yearly review? We are just finding it a little tight each month and wondered if we could do another I and E on the SC website and lower the direct debit we pay to SC? Will this mess things up with the current plan we have in place and is it better to wait until the review in July? The mess up with my overtime has proper screwed up my budget this month (got about £50 to last until payday in 12 days time!! :eek:)

It would just give us a bit of breathing space if we could reduce the direct debit by about £50 per month - alternatively I was thinking of making the leap into the world of self managed after the success stories of you lovely lot on here!! Then we could be in total control of our payments from now on.

How long does the process of moving from SC to SM take? Do you write to creditors with I and E, a list of other creditors and payments, and an amount you can afford to pay them? Do you wait for them to accept or just cancel SC direct debit and go with it anyway!?! How do I find out who to pay the direct debits to?

If there is info re: setting up SM from the start I would be grateful if you could point me towards the thread and I will start researching!!

Any advice welcome

BDFSH x

MrsSammyB

BeingDebtFreeStartsHere wrote: »

Evening everyone

Just a quick query - with SC can you amend your direct debit before the yearly review? We are just finding it a little tight each month and wondered if we could do another I and E on the SC website and lower the direct debit we pay to SC? Will this mess things up with the current plan we have in place and is it better to wait until the review in July? The mess up with my overtime has proper screwed up my budget this month (got about £50 to last until payday in 12 days time!! :eek:)

It would just give us a bit of breathing space if we could reduce the direct debit by about £50 per month - alternatively I was thinking of making the leap into the world of self managed after the success stories of you lovely lot on here!! Then we could be in total control of our payments from now on.

How long does the process of moving from SC to SM take? Do you write to creditors with I and E, a list of other creditors and payments, and an amount you can afford to pay them? Do you wait for them to accept or just cancel SC direct debit and go with it anyway!?! How do I find out who to pay the direct debits to?

If there is info re: setting up SM from the start I would be grateful if you could point me towards the thread and I will start researching!!

Any advice welcome

BDFSH x

S

Hiya - I redid my I&E online with SC tonight and bought my payments down from £1352 to £1052 - just got a simple message saying thank you, this will start from 1st March. Completely painless and a lit more breathing space for us.

All the best x

fermi

Brogden wrote: »

OK....I am now dealing with a firm which is a speculative chancer which has provided no service to me at all and whose presence I did not request. Somehow this state of affairs does water down the idealist principal of 'paying back what we owe.'

I've rambled enough but I do think it is where debt has been sold that we have a greater right to be a little less pleasant and co-operative than we might otherwise be......?

One properly sold to a collector for a small % of it's face value, the original creditor has basically cut and run and taken that fee as all they will ever get paid back for it.

Doesn't then matter whether you pay the DCA 100% of it it or 0% of it; the original creditor who you actually borrowed from has already got all they ever will and will get no more no matter what you do.

'Se la vie' for theDCA then, if it turns out they bought a duff account as they never check the validity of the CCAs on what they buy. :cool:

January2015

fermi wrote: »

One properly sold to a collector for a small % of it's face value, the original creditor has basically cut and run and taken that fee as all they will ever get paid back for it.

Doesn't then matter whether you pay the DCA 100% of it it or 0% of it; the original creditor who you actually borrowed from has already got all they ever will and will get no more no matter what you do.

'Se la vie' for theDCA then, if it turns out they bought a duff account as they never check the validity of the CCAs on what they buy. :cool:

I hadn't looked at it that way Fermi - puts a whole different spin on it - any feelings of guilt starting to drop rapidly away (please note the word 'any' in that sentence )

sourcrates

January2015 wrote: »

I hadn't looked at it that way Fermi - puts a whole different spin on it - any feelings of guilt starting to drop rapidly away (please note the word 'any' in that sentence )

Yep, they buy them up in bulk with no clue of wether they are statute barred.or have a valid credit agreement, or even if the creditor is still alive.
I could swear, but I won't,
I think you know which mast my colours are nailed too !!!

Brogden

sourcrates wrote: »

Yep, they buy them up in bulk with no clue of wether they are statute barred.or have a valid credit agreement, or even if the creditor is still alive.
I could swear, but I won't,
I think you know which mast my colours are nailed too !!!

I am sorry......I know this topic does not interest everybody on this thread . I wish it didn't interest me but..................:o

Only in the last few weeks have I really got the full picture . I am glad I know now because I like knowing things.......

I expect a responsible business to to take care (due dilligence) when it is spending its own money and investing. For the good of itself and its continued survival if for no other reason. If I take a load of scrap metal to a dealer they will pore over it and make checks before parting with any of their cash. With debt purchasers it is money chucked at the wall. Sure, it is their own business decision but in this FCA-regulated environment it is beyond belief that they behave so wrecklessly, buying ‘assets’ of completely unknown value….and that the FCA/PRA regulated banks are happy to play the game with them :mad:.

As Fermi says, the banks just ‘cut and run.’ That is their business decision and if they hung on they could recover much more on a defaulted account. Also, with a fair process of offering discounts themselves, they could be seen to treat and support customers in financial trouble so much better than they do.

Hey ho…..in the cold light of day it doesn’t make much difference to us. In fact it works in our favour……it is just so, so CAAAARP :mad:.

[FONT=&quot]I admit that it seems pointless to punish ourselves too much to help them…….. [/FONT]