72k in debt....I feel sick

10past6

HI MMD

I’ve looked at those documents, the good news is the default notice is defective as it doesn’t give you 14 days from date of issue to fix the remedy, date of issue: 13: date to fix remedy 27 that’s an exact 14 days, without allowing for delivery.

Therefore the default notice is defective.

Remind me please what type of loan this is, how much arrears is on the default notice don’t give the full amount just a rough idea, the same for the termination letter, are they claiming the whole amount, if so, how much is it for, just a rough idea.

moneymeltdown

thankyou for taking a look at the letters..the default dated 13 Oct 08 states:

'you are in breach of that clause because arrears amounting to £0.78 of your monthly payments are now due and outstanding'

is this the info you need for the default? i will look at the termination letter now!

moneymeltdown

[Remind me please what type of loan this is,

MBNA credit card

moneymeltdown

the termination letter states:

"you are required to pay the full outstanding balance of £15,XXX.XX immediately"

10past6

moneymeltdown wrote: »

£0.78 of your monthly payments are now due and outstanding'

Is that all you were in arrears for?

moneymeltdown

10past6 wrote: »

Is that all you were in arrears for?

No,that figure of 78p isn't correct, as at the time of their letter,I was seriously in arrears.i am trying to find the rough figure for you.i would take a guess and say the arrears were in the high hundreds/possible thousand pounds at that point.

78p was a random figure.

10past6

moneymeltdown wrote: »

"you are required to pay the full outstanding balance of £15,XXX.XX immediately"

Tuff

They've terminated your agreement on a defective default notice, you no longer have an agreement with them, by terminating your agreement unlawfully they CANNOT chase you for the outstanding balance.

In order for them to cancel your agreement which they are entilted to do, they MUST follow the correct legislation that means issuing a CORRECT default notice.

They've failed to do that, but gone ahead and terminated your agreement, tuff on them.

Now, you need to print of the legislation that refers to how a default is supposed to be issued, then present that to the judge.

Only the judge can say they're not entilted to the remaining outstanding balance, but if you present your case as per legislation, you should be OK.

10past6

moneymeltdown wrote: »

No,that figure of 78p isn't correct, as at the time of their letter,I was seriously in arrears.i am trying to find the rough figure for you.i would take a guess and say the arrears were in the high hundreds/possible thousand pounds at that point.

78p was a random figure.

OK, well at the time the DEFAULT NOTICE was issued, whatever the arrears are that's all they're entilted to, nothing more.

10past6

I've had another look at that default notice, it's showing the exact amount of your balance, down the bottom, you need to edit it off.

moneymeltdown

10past6 wrote: »

OK, well at the time the DEFAULT NOTICE was issued, whatever the arrears are that's all they're entilted to, nothing more.

does this mean 78p as stated on the default notice ?