Blow the lot and run away

[Mr-Boink™]

Hello ladies and gents. First time posting on here and i have a very controversial question, but i'm sure it's gone through many people's heads before.

In laymans terms, What's stopping me from purposely going right upto my £8k limit on my barclaycard, then going over my £2K Barclays overdraft and ignoring any letters or threats? My outlook on this whole banking situation is, they will lie and treat me like crap, let's **** them first before they **** me any further. I'm sick of bending over to tell the truth.

I've had my barclaycard for around 12 years now and they keep adding more more money for me to borrow knowing full well i can't pay it back. They've recently announced they they're increasing the interest rate too, so i'm feeling a bit revengeful right now.I currently owe barclaycard £2800 and am right up to my £1750 barclays current account overdraft. The minumum payments and interest is killing me.

[Never-In-Doubt]

Re: Blow the lot and run away

There's nothing stopping you doing that, if you have no assets (i.e so they cannot get a CO against your property).... but yea, if they're old accounts and you don't mind a screwed credit report for 6 years then it's no real big deal is it?

I know people from here have done such, but we won't judge so what you do is up to you - we'll just help guide you along where process and laws are concerned - we don't approve nor disapprove of what you suggest. It doesn't matter in the grand scheme of things cos you could just come and ask "I've blown £10k, what can I do..."

p.s. you don't need to blank out swear words - it's an adult forum, we're all adults!

[CleverClogs (RIP)]

Re: Blow the lot and run away

Run away?

To Africa?

[CAPS ESC]

Re: Blow the lot and run away

Hello ladies and gents. First time posting on here and i have a very controversial question, but i'm sure it's gone through many people's heads before.

In laymans terms, What's stopping me from purposely going right upto my £8k limit on my barclaycard, then going over my £2K Barclays overdraft and ignoring any letters or threats? My outlook on this whole banking situation is, they will lie and treat me like crap, let's **** them first before they **** me any further. I'm sick of bending over to tell the truth.

I've had my barclaycard for around 12 years now and they keep adding more more money for me to borrow knowing full well i can't pay it back. They've recently announced they they're increasing the interest rate too, so i'm feeling a bit revengeful right now.I currently owe barclaycard £2800 and am right up to my £1750 barclays current account overdraft. The minumum payments and interest is killing me.

Hi Mr-Boink

When I 1st went with Payplan on a DMP, they actually advised me to use all the overdraft available to me before I started the plan (made sense as I was struggling for money). Just don't forget to open an account with another bank for your regular bank stuff.

[Mr-Boink™]

Re: Blow the lot and run away

Thanks for the replies. Brilliant forum. I've got 3 questions please.

1. I've done a bit more reading on these forums and i've read (correct me if i'm wrong) that current accounts are enforceable, so would it be a good idea if i paid off the £1750 overdraft i owe on the barclays current account then close it so barclaycard can't access the money?

2. I've opened a new natwest account and i intend transferring all my direct debits over to that. Can barclaycard or anyone else for that matter access that account for owed money? or would they even know i have another bank account?

3. I've had my barclaycard for over a decade now so i assume it's Unenforceable. I can't remember how i applied for it now. Will sending a CCA request put them on alert before i take the rest of the money out?

I can't believe this unenforceable loophole hasn't been closed for people that applied before 2007. Surely a letter from the credit card company saying "this is your new updated agreement. Please sign and return.

[Never-In-Doubt]

Re: Blow the lot and run away

1. I've done a bit more reading on these forums and i've read (correct me if i'm wrong) that current accounts are enforceable, so would it be a good idea if i paid off the £1750 overdraft i owe on the barclays current account then close it so barclaycard can't access the money?

Are they? See this then ---> Overdrafts - CCA Information - allaboutFORUMS

2. I've opened a new natwest account and i intend transferring all my direct debits over to that. Can barclaycard or anyone else for that matter access that account for owed money? or would they even know i have another bank account?

Nope, it's separate entities.

3. I've had my barclaycard for over a decade now so i assume it's Unenforceable. I can't remember how i applied for it now. Will sending a CCA request put them on alert before i take the rest of the money out?

Nope but spend it before you apply for CCA lol.

I can't believe this unenforceable loophole hasn't been closed for people that applied before 2007. Surely a letter from the credit card company saying "this is your new updated agreement. Please sign and return.

There is no bloody loophole

It is our rights within the goddam legislative and statute guidance that runs us. I hate it when people call the law a loophole. OJ Simpson was a killer but got let off on a loophole. When a bank miss important terms off an agreement which could end up costing you many thousands over a life-cycle of account I'm sorry but those terms matter - there is no loophole.

[Diasflac]

Re: Blow the lot and run away

May be difficult to use the unenforceable law regarding the credit card, if they pursued it to court, the fact you ran up your credit shortly before not paying, then attempted to use it may go against you in any judgement. You may have the original debt written off but the lot you blow, I see you having to repay it.

If you're not bothered about your credit file for the next 6 years, may as well go for it if that's what you want.

[Never-In-Doubt]

Re: Blow the lot and run away

May be difficult to use the unenforceable law regarding the credit card, if they pursued it to court, the fact you ran up your credit shortly before not paying, then attempted to use it may go against you in any judgement. You may have the original debt written off but the lot you blow, I see you having to repay it.

That would not affect any judgment as that does not matter in the slightest - we don't argue spending the funds we argue the terms of the agreement associated with the card.

A judge has in the past said to a defendant (on here) "you enjoyed spending so pay it back" and her barrister correctly told the judge that didn't matter in the slightest as the principle agreement was incorrect so whether she spent or not is neither here nor there!

Well summat like that anyway.... but the point is a judge would not be able to hold that against you plus it's unlikely that it'd go to court that quick.

[Mr-Boink™]

Re: Blow the lot and run away

I thought the whole UE thing was so that they can't take you to court? Unless i've read it wrong. There is so much information to take in it's confusing as hell most the time.

[ken100464]

Re: Blow the lot and run away

No can't in this.

Your trying to waste enough time to get to SB. Getting to a stalemate so the creditor isn't sure of their ground. Using the law to protect you while the clock ticks away. Sloppy paperwork by the creditors helps.

Avoiding court for sure is the aim but its not a sure fire nailed on certainty you wont end up infront of a judge. And Judges can and do make strange decisions. So many variables that make each account follow a different path.

Its like a game of Poker. Who blinks first.
But the plus side is the users on here. If it didnt work we wouldnt be here.

[Diasflac]

Re: Blow the lot and run away

That would not affect any judgment as that does not matter in the slightest - we don't argue spending the funds we argue the terms of the agreement associated with the card.

A judge has in the past said to a defendant (on here) "you enjoyed spending so pay it back" and her barrister correctly told the judge that didn't matter in the slightest as the principle agreement was incorrect so whether she spent or not is neither here nor there!

Well summat like that anyway.... but the point is a judge would not be able to hold that against you plus it's unlikely that it'd go to court that quick.

Insane! When I was in debt a few years ago I paid the oldest stuff first, a Santander credit card and a barcleycard. Both from 2005 and ended up maxed out totalling £13,000. Had I known about this at the time I could have saved £13,000. I always miss out on these things, low deposit mortgages, PPI etc. Any of these would have been nice .