Loan and Credit Card Debt

[pebbles]

Hi everyone. Im looking for some help with debt problems for which I am now being chased. I currently have:

Barclaycard 5939.62
Mastercard 5894.80
Egg card 1876.16
AA loan 9712.58

Up to Nov last year we was up to date with all repayments but have now run out of money (I was using the compensation from my accident) to make the repayments. The credit cards had been put on hold by agreement with Barclaycard, but now they have handed the debt to Mercers to sort out. They have requested another income and expenditure form from me which I sent by email, however there was no change to the last one I sent. I have had calls from Mercers which wasnt too bad considering their reputation. I have told them we have no money and cannot meet the required payment they want.

The AA had also phoned and asked that I make two payments in a row so that they could rehash the loan and possibly make the repayments lower. I only managed to make one and now they have issued default notice and also sent a letter stating that a representative will call at my home on the 24th April ( I have no idea who this representative is).

We also have a problem with our mortgage in the fact that at the suggestion of Northern Rock we went on to interest only to help with our situtation, we have managed to make the payments but obviously this is not an answer as at some point they are going to want their money.

Any help would be appreciated
thanks

[Deepie]

Re: Loan and Credit Card Debt



To help us, to help you, please provide the following information for each account:

• Type of account (credit card/loan)
  
  
• Date commenced (ideally before Apr 2007)
  
  
• Approx balance
  
  
• Date last paid (approximate date you last made a FULL payment)
  
  
• Are you on arrangement or not paying
  
  
• Status (default/in arrears/up-to-date)
  
  
• Account owner (who is writing to you, a DCA or the lender)

[pebbles]

Re: Loan and Credit Card Debt

AA Personal Finance

date opened Feb 2009
last full payment Oct 2012
balance £9712.58
failed to make arrangement payment now not paying
Default/in arrears
the Lender is writing

Barclaycard credit card
ac opened 1980
balance 5894.80
last full payment oct 2012
not paying
default in arrears
dca and lender

mastercard credit card
same date approx 1980
balance 5939.62
last full payment sept 2012
not paying
default in arrears
dca and lender


Egg credit card (now barclaycard)

never had statements off Egg was all online, card belong to barclaycard now so unable to log onto Egg.com
balance 1876.16
last full payment i think was feb
on arrangement for March and April unable to pay April
not paying
in arrears
lender

Hope this is ok

[Deepie]

Re: Loan and Credit Card Debt

Thanks for that^^^^^

Have a read here ---> http://forums.all-about-debt.co.uk/s...20&postcount=1

Could be an option with the last three.......

[pebbles]

Re: Loan and Credit Card Debt

Just had a quick look and not sure if I understand it really.

do I post again in that thread what I posted above?

Sylvia

[IF]

Re: Loan and Credit Card Debt

Hi Sylvia, I've done your first one, if you can do a new post for each debt on this thread, that would be best.

Hope this helps

• Type of account AA Personal Finance
  
  
• Date commenced Feb 2009
  
  
• Approx balance £9712.58
  
  
• Date last paid Oct 2012
  
  
• Are you on arrangement or not paying failed to make arrangement payment now not paying
  
  
• Status Default/in arrears
  
  
• Account owner the Lender
  

[pebbles]

Re: Loan and Credit Card Debt

thankyou

[SXGuy]

Re: Loan and Credit Card Debt

AA Personal Finance

date opened Feb 2009
last full payment Oct 2012
balance £9712.58
failed to make arrangement payment now not paying
Default/in arrears
the Lender is writing

UE isnt an option with this one, but you can either send a CCA Request and stop paying, blag it for a while, some of us have been blagging an enforceable loan or credit card for years, failing that, you could try to negociate a repayment of £1 per month, but bare in mind, it will never been repaid, nor meet statue barred.

Barclaycard credit card
ac opened 1980
balance 5894.80
last full payment oct 2012
not paying
default in arrears
dca and lender

Stop paying and send a CCA Request straight away.

mastercard credit card
same date approx 1980
balance 5939.62
last full payment sept 2012
not paying
default in arrears
dca and lender

Stop paying and send a CCA Request

Egg credit card (now barclaycard)

never had statements off Egg was all online, card belong to barclaycard now so unable to log onto Egg.com
balance 1876.16
last full payment i think was feb
on arrangement for March and April unable to pay April
not paying
in arrears
lender

Which year was this taken out? if its before 2007 this is probably unenforcable, def send a CCA Request ASAP and stop paying!!!

This is what i would do.

Your mortgage is number 1 priority right now, unsecured loans and creditcards should come last, if you have no money pay them nothing. Remember any spare cash should go on your mortgage.

[Never-In-Doubt]

Re: Loan and Credit Card Debt

1980 is before the provision was accepted into the CCA (i.e. before 19th May 1985 they DO NOT HAVE TO RESPOND TO A CCA with an executed agreement - they can provide just current terms) -

don't forget that guys

[Undercover Elsa]

Re: Loan and Credit Card Debt

Hi Pebbles, welcome to AAD ,

No you don't need to post on the thread in the link, just carry on with this one and, if you can, copy the format that IF's shown above for each debt.

It is hard to understand at first but we'll all help you, and never be afraid to ask if you're not sure of anything.

Sounds as if you've been through the mill, and the last thing you needed to be doing was using your accident money to keep the wolves away for non priority debts.



A few tried and tested ground rules:

• Don't speak to these people on the phone any more...they will lie to you and bully you.
• Insist that everything is kept in writing from now on.
• With what money you do have, as mentioned above concentrate on your mortgage and other priority payment - council tax, utilities and food etc.

You do need to read around the site to familiarise yourself with things, but a pocket version of unenforceability (UE) is that for cards and loans taken out prior to April 2007, if the creditor can't supply a copy of the agreement, or if the agreement has certain errors then they can't enforce it in court.

Many people who have fallen on hard times through no fault of their own and endured bullying by the banks/debt collectors don't realise that they have this protection under the Consumer Credit Act until they come on here.

The first step is therefore to send off for a copy of the Consumer Credit Agreement (a CCA Request) and take it from there depending what, if anything they send back. The template letter for that is here: http://www.all-about-debt.co.uk/inde...2-cca-requests

It sounds a lot to take in, but read as much as you can about it on here and take it one step at a time and you'll be fine

Elsa xx

[pebbles]

Re: Loan and Credit Card Debt

Thankyou Elsa.

All of the cards were signed up before 2007 the two barclaycards I have for about 30 years lol. The egg card I think was approx. 2004.

I will take your advice once I've read it a few times, takes a lot for me to take things in with my illness.

Thankyou for your help

[pebbles]

Re: Loan and Credit Card Debt

Thankyou for your advice

The egg card is approx. 2004.

I will read again and do as you advise it just takes me a while to get my head round stuff with my illness

Thanks again

[Never-In-Doubt]

Re: Loan and Credit Card Debt

1980 is before the provision was accepted into the CCA (i.e. before 19th May 1985 they DO NOT HAVE TO RESPOND TO A CCA with an executed agreement - they can provide just current terms) -

don't forget that guys

Please bear in mind the words above - cessation of payments (normal through UE) may not be best for you, especially if you're unwell as the stress can get to you plus you may find yourself having to back down at a later date. If you're making small DMP payments I suggest continuing until you at least request the CCA's and see what is sent back to the original creditor and drop it like a hot-potato - sometimes a DCA doesn't realise how old the account is and will just send it back - others will be clued up and know they can enforce it quite easily.

Are you a homeowner? If not then stopping payments would have no effect on you whatsoever cos if they got 10 CCJ's against you it'd matter little as there is nothing to actually secure their CCJ's against

[pebbles]

Re: Loan and Credit Card Debt

I am a homeowner but they have no chance of getting anything as the Northern rock will have first call on that.

Please bear in mind the words above - cessation of payments (normal through UE) may not be best for you, especially if you're unwell as the stress can get to you plus you may find yourself having to back down at a later date. If you're making small DMP payments I suggest continuing until you at least request the CCA's and see what is sent back to the original creditor and drop it like a hot-potato - sometimes a DCA doesn't realise how old the account is and will just send it back - others will be clued up and know they can enforce it quite easily.

I'm not really sure what this UE is all about. I'm not making any payments at the moment. The AA requested a gesture payment so that the could look at re hashing the loan to see if smaller monthly payments could be made but I've failed to make the second payment so now they sent the default notices.
I don't have an actual debt reduction programme with any of them.

Thanks
Sylvia

[pebbles]

Re: Loan and Credit Card Debt

Type of account Barclaycard (credit card)

Date commenced had card over 30years

Approx balance £5894.80

Date last paid Oct 2012

Are you on arrangement or not paying not paying

Status Default/in arrears

Account owner the Lender