loans and signed credit agreements

fiveyearplan

However the OP did say it was 2 joint loans and his OH has gone BR so the repayment of them is now all up to him. I think most people would struggle if they used to share bills and are now paying them all themselves. Also OP didn't say if they had children etc and if he has to pay maintenance. I don't think he felt the need to go into detail but just wanted some factual information.

Dylanwing

have you ever tried talking to a creditor via telephone your requests to get the account back to normal falls on deaf ears this happened with 6 of mine i lost my job done just what it says in the add "if ever you get into problems crap contact us immediately" guess what? added charges plus interest

So true. I started off with intentions of paying back all that I owed, a few Months of dealing with these clowns and my aim became to pay as little as I could get away with.

rog2

UNDERGROUND wrote: »

It seems people are getting the wrong impression of what I was trying to get at. The OP simply didn't want to pay his loan back any more - the OP didn't mention that they were subject to any financial hardship or that the finance company had been unreasonable in any way. If they had then perhaps I could understand the OP wanting to exact some sort of 'retribution'!

Hi UNDERGROUND - the thread has 'developed' into a discussion regarding consumer credit agreements and the protection that the Consumer Credit Act 1974 affords to consumers. Nobody is advocating the 'Avoidance of Debt' perse.
However, to return to the Original Poster's situation - and his own words 'she absconded with the money and then declared herself Bankrupt'. The original creditor is relying on the law governing 'Joint and Several' loans in order to chase the OP for full repayment of money that his ex-wife 'absconded with'. Okay - that may not be the Bank's problem, but it is difficult to accuse the OP of 'simply not wanting to pay back his loan anymore'.
The OP had requested, as is his legal right, a true signed copy of the original cca. That, in itself, is enough to put the 'debt' in dispute.
The OP stated that the Bank did not send this information, within the time-span allowed by the law. Given the time elapsed between the OP's request and the date of his post, not only has the Bank not supplied the original cca, thereby rendering the agreement unenforceable without a Court Order, but, in addition, by not supplying it within a further 30 days the Bank has committed a criminal offence.
The Bank, in their defence, say that they posted the cca within the timespan, although, apparently, they can offer no proof of this and are, seemingly, attempting to 'absolve' themselves of their responsibilities and duties, under the Consumer Credit Act, by saying that they will request for another copy to be sent. Even if they do supply another copy, this does not alter the fact that they have committed an offence. In order for them to enforce any agreement, that they now provide, they would need to seek a Court Order , and the OP is entitled to put in his defence that the Bank did not comply with his cca request, therefore the agreement is 'irrideemably unenforceable'.
Furthermore, the Bank is now 'harrassing' the OP by telephone, whilst the 'debt' is in dispute. This is in total contradiction to the OFT Debt Collection Guidelines http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf and this behaviour can, and should, be reported to the Trading Standards Office.
I find it difficult not to sympathise with the OP - it is blatantly obvious that the Bank has no sympathy with the OP's situation, and are refusing to show any leniency, or flexibility, towards the OP, in order to deal with the situation in a realistic and helpful manner.
Therefore, whilst it may be a pity that the OP has to resort to the 'letter of the law' that is his absolute right and we can not deny him that right, however we may feel about his 'motives'.

out_of_cash

hi fiveyearplan,

i am with you here all the way its always good to wave the moral flag but i am afraid banks do not have this in their terms and conditions it should say in the microscopic print we will bleed you to death no matter what your circumstances are ,i was unemployed got in touch with a creditor they were very helpful shoved my apr up on card from 4.9% to 23.6% i know someone who was terminally ill and they chased him into his grave for the cash 2k its pathetic i am now thinking of signing up for an iva so they can squeal for their losses.

regards

out of cash

out_of_cash

hi dylanwing,

how are you getting on now with your creditors.

regards

out of cash

out_of_cash

my apologies underground

for getting the wrong end of the stick

regards

out of cash

Dylanwing

Hi Out of Cash And Merry Xmas to all reading this.
My lofe took a turn for the better in an odd way and after a couple of years I lived for a nominal rent in my Mothers house. I forgot to mention this to my creditors and saved up so that I could hit them with a Full & Final offer. Most settled at about 75%, but two Companies were repaid in full. M&S and HFC who were brilliant and set up long-term loans at 0% Fixed interest - With recourse to recoaim all interest if I defaulted. Brilliant, for them it was easy to administer and they were repaid, and for me it was realistic and affordable. Why can the other Banks not do this?
Barclaycard were the most objectionable and hard to deal with... And guess who recovered the least... Well excluding RBS who took incompetence to new depths. And do I feel any guilt? Absolutely none!

fiveyearplan

Strange Dylanwing, my experience was quite the opposite. RBS were the ONLY creditor of mine who replied to my offer of reduced payment (£5 per month on £2,500 cc debt and Barclaycard were the only other one who reduced my payments to £30 freezing interest and charges. I've said it before I think it really is who you get on the phone and what kind of mood they're in at the time. Barclaycard did take some haggling but we got there in the end.

tonydav43

Just a small update on my situation:
Received a letter from one of the creditors today (Halifax) with huge apologies and they are aware they never stuck to the law, therefore, as of 17th November, the total loan is written off and no further monies are due, the account is closed but they do state they will not make any refund or compensation. That loan was £17,000.00. Again, another one which my ex took the money and ran off with. MBNA are still harrassing me, their departments (despite all being at the same address) claim never to have seen or received letters that I send (and despite me sending them recorded delivery may I add) and none of them speak to eachother. It's been passed to legal which as far as I knew had already been to legal when the ex declared bankruptcy, I'm happy with this also as hopefully legal will see this loan is not enforceable. I received a letter from MBNA last week to say they have no record of the loan account! I can't understand why one department can chase for an account that according to another department doesn't exist. It's tiring and needs to stop. I constantly remind them that I request every correspondence in writing only. If Halifax clearly sees the mistake why can't MBNA? Anyway - I stood my ground for both of these accounts and I stood by the law, they didn't, Halifax realise this and did something about it, MBNA have yet to learn! A massive thanks to rog2 for always managing to clearly point out the facts that perhaps others sometimes miss or misconstrue and thanks for the initial advice in the very beginning months ago.

tonydav43

Also one other point for the umpteenth time - Undergound and all those who have misunderstood and read my circumstance incorrectly:
I never refused to pay any of the loans back, not once, I had every intention to pay back. How can any company expect a man on his one sole income to pay back what was joint loans of 17k and 19k on his own totalling payments of near on £800 a month? I couldn't afford the full amounts. (I will just add that the ex did work for Halifax and had that loan pushed through and still worked for them despite being bankrupt, she never told her employer). I arranged to pay half the payments with both companies and both agreed but when it was arranged I did request all the paperwork as the ex DID A RUNNER with ALL the money and ALL the paperwork involved (I guess to prove her financial standing for bankruptcy) then she went bankrupt. Both creditors were unable to provide statements, original credit agreements, anything in writing to confirm new payment plans. MBNA admitted immediately they no longer have any records of the account as it was them that told me the ex went bankrupt, so that's why I fought them and still am. If they have no record, how can I pay for something that in even their system doesn't exist? It was never about not paying. I have a barclaycard that I pay £100 a month off (minimum payment is normally £60 but I always pay over), a capital one CC which I pay monthly, without fail, my council tax, rent, tv licence, sky, car, insurances, electric, gas and water are paid on time, every month, no questions, no problems and I still have disposable income. Don't know why some are not reading this for what it actually means and what I actually am trying to do as a person with rights. Would anyone pay lets say for instance a british gas bill of say £100 a month and yet they never have a record of providing you with gas but still chase you for payment? No. You wouldn't. I am protected from things like this by law and I simply utilised my rights and I've won in one case, still yet to stop MBNA.