£16k bargaining tool

PROLIANT

Captain_Mainwaring wrote: »

Are banks allowed to make periodic credit checks? and if so would they see a new account being opened at another bank?

Not without your consent, they can however do periodic ad-hoc enquiries on your credit file, but without leaving a foot print ergo an unrecorded enquiry.

Captain_Mainwaring_2

PROLIANT wrote: »

That is border line theft, other banks cant just dip another account like that, maybe in the circumstances of bankruptcy however the OP has not indicated that he wants bankruptcy yet and I don’t think a bank would want to force him into it because they stand to lose a canny bit of money that way, the solution to the problem would be a payment plan, say freeze interest on accounts and give the person time to pay off the debt.

No, theft is obtaining credit and not paying it back.

They gave him chance to pay £300 a month and they would freeze the interest, but he didn't want to get rid of his disposable income.

I think that a bank could obtain a CCJ and secure that 16K really quite easily, which is why I suggested that he attempts to come to a settlement.

The OP has assets that he doesn't want to use to pay his debts, therefore it may well be in the interests of the banks concerned to threaten him with bankruptcy.

I understand that peoples circumstances can change but I didn't think that absolved them from paying back what they borrowed.

Captain_Mainwaring_2

PROLIANT wrote: »

Not without your consent, they can however do periodic ad-hoc enquiries on your credit file, but without leaving a foot print ergo an unrecorded enquiry.

and would those enquiries show a new bank account??

Night-owl_6

Captain_Mainwaring wrote: »

No, theft is obtaining credit and not paying it back.

They gave him chance to pay £300 a month and they would freeze the interest, but he didn't want to get rid of his disposable income.

I think that a bank could obtain a CCJ and secure that 16K really quite easily, which is why I suggested that he attempts to come to a settlement.

The OP has assets that he doesn't want to use to pay his debts, therefore it may well be in the interests of the banks concerned to threaten him with bankruptcy.

I understand that peoples circumstances can change but I didn't think that absolved them from paying back what they borrowed.

The bank must issue him with a default at first then the debt could be sold to a debt collection agency after that if the bank cant get there money, the debt collection agency would be prepared to take a lump sum settlement fee, so long as the OP paid it in full within set time limits.
They gave him a chance to repay the £300 but he could not repay that sum, therefore the bank should offer him a lower repayable rate at one that matchs his budget.

PROLIANT

But he is paying his debts though, just not @ £300 per month, obtaining credit and not paying for is not theft if you use your own identity, it is tough luck for the bank/lender, it just means that the bank/lender will screw up your credit rating for about 6 years, the OP wants to pay his debt but why use all his disposable income, he would end up just working and paying debt, no enjoyment in life, don’t think so, I would rather bump the lot and declare myself bankrupt, as the old saying goes "I would rather play for nothing than work for nothing", can you imagine what affect that would have on somebody? People have taken their lives over less, paying a smaller amount back and having a bit left for living rather than existing only to pay back some poker faced corporate yuppie bank, it is all about getting the balance right, capitalism, exploitation, oppression etc is not the way to get things done my friend.

PROLIANT

Captain_Mainwaring wrote: »

and would those enquiries show a new bank account??

Yes, but all they can see is the account type, status, balance and history of dates etc, they cant see lenders name i.e. bank/credit card provider, so answer to your question is no, only the type of account.

immortalpirate

Captain_Mainwaring wrote: »

No, theft is obtaining credit and not paying it back.

They gave him chance to pay £300 a month and they would freeze the interest, but he didn't want to get rid of his disposable income.

I think that a bank could obtain a CCJ and secure that 16K really quite easily, which is why I suggested that he attempts to come to a settlement.

The OP has assets that he doesn't want to use to pay his debts, therefore it may well be in the interests of the banks concerned to threaten him with bankruptcy.

I understand that peoples circumstances can change but I didn't think that absolved them from paying back what they borrowed.

Okay.

Firstly you are very judgemental. Where in any post i have made do i say "i dont want to pay my debts off"????

Secondly , £300 repayment was £50 more a month than i had , ie i offered every penny of my disposible income as repayment.

Thirdly, i am in a repayment plan for the rest of my debt.

Fourthly, £12k of it is from where my ex partner took out a loan without my knowledge and left me copping the lot. I tried to get it overturned but had no proff as she did all the finances and withdrew the money the same day it went in and put it into a savings account.

Fifthly, I have every intention to use the 16k to clear my outstanding debts. I was merely asking a question to see if i could use the amount to persuade a bank to give me a debit card.

Sixthly,
get off your high horse and actually read what people say instead of just jumping on the "scumbag" bandwagon.

People like you annoy me. :mad:

Matt

Night-owl_6

immortalpirate wrote: »

Okay.

Firstly you are very judgemental. Where in any post i have made do i say "i dont want to pay my debts off"????

Secondly , £300 repayment was £50 more a month than i had , ie i offered every penny of my disposible income as repayment.

Thirdly, i am in a repayment plan for the rest of my debt.

Fourthly, £12k of it is from where my ex partner took out a loan without my knowledge and left me copping the lot. I tried to get it overturned but had no proff as she did all the finances and withdrew the money the same day it went in and put it into a savings account.

Fifthly, get off your high horse and actually read what people say instead of just jumping on the "scumbag" bandwagon.

People like you annoy me. :mad:

Matt

Well said.
This was our point completely.
I dont know where Captain Mainwaring got the impression you didnt want to repay them

immortalpirate

Thanks Night-owl. I dont know where he got that from either.

Matt

Captain_Mainwaring_2

PROLIANT wrote: »

But he is paying his debts though, just not @ £300 per month, obtaining credit and not paying for is not theft if you use your own identity, it is tough luck for the bank/lender, it just means that the bank/lender will screw up your credit rating for about 6 years, the OP wants to pay his debt but why use all his disposable income, he would end up just working and paying debt, no enjoyment in life, don’t think so, I would rather bump the lot and declare myself bankrupt, as the old saying goes "I would rather play for nothing than work for nothing", can you imagine what affect that would have on somebody? People have taken their lives over less, paying a smaller amount back and having a bit left for living rather than existing only to pay back some poker faced corporate yuppie bank, it is all about getting the balance right, capitalism, exploitation, oppression etc is not the way to get things done my friend.

Silly me - I had this expectation that even if he you had to give up "enjoying yourself" for a while, you paid the money back.

Better not go further with this, you are the sort of person who thinks that not paying back a "poker faced corporate bank" is OK. Well I don't, I would be getting a much fatter "capitalistic" interest rate on my savings if people paid up.

Is it OK if I borrow 20K and go on the lash for a couple of months then not give it back in case I get a bit stressed?

I reckon your final bit is right though - he should go bankrupt and bump the lot.