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  • #1

    Saw this on MSE?

    I saw this thread on MSE today after googling... Is this legit? Could it be? I want to say congrats to the guy but there's no way someone could do this surely???

    Debt free as of 08:00 this morning - MoneySavingExpert.com Forums
    Tags: accounts, act, bank, barclaycard, barclays, cag, card, cards, cca, collapse, comi, con, consumer, contract, court, credit, credit card, credit card debt, credit cards, credit limits, customers, debt, excessive, financial, free, housing, investment, jobs, law, limits, money, mortgage, mse, natwest, niddy, northern rock, rac, rbs, unenforceable, website
  • #2
    Re: Saw this on MSE?

    He must have had a very lenient judge given the amounts.
    Let your smile change the world but don't let the world change your smile

    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Saw this on MSE?

      Originally posted by Diasflac View Post
      I saw this thread on MSE today after googling... Is this legit? Could it be? I want to say congrats to the guy but there's no way someone could do this surely???

      Debt free as of 08:00 this morning - MoneySavingExpert.com Forums
      Hmmm I'm pretty sure its a load of ballhooks but I'm sure that Paul would have heard of anything like this coming up in the courts.......
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: Saw this on MSE?

        £55k credit card debt...

        Really?
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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        • #5
          Re: Saw this on MSE?

          I just read it and thought, surely enforceable or not, for that amount of cash he'd be forced to pay something! I'd even expect both to take him to court, for that level of debt it's worth the costs either way.

          Comment

          • #6
            Re: Saw this on MSE?

            Originally posted by Never-In-Doubt View Post
            £55k credit card debt...

            Really?
            £550k lol, I used to think my £7k Barclaycard limit was generous when I had it.

            He's saying he ran up £800k because he knew it was unenforceable and just pocketed the cash, surely there's other avenues a bank would go down legally to recover that amount of money!
            Last edited by Diasflac; 6 June 2013, 12:08. Reason: Added some tuff

            Comment

            • #7
              Re: Saw this on MSE?

              Lol lol lol

              I was made redundant in 2010 from RBS following it's collapse, I am a financial specialist in contract law. I had two credit cards, one with RBS with a £300,000 limit and one with NatWest with a £550,000 limit. Both excessive credit limits and both hardly ever used. A year after being made redundant (which I was very unhappy about, most of the investment teams managed to keep their jobs) I discovered a website detailing that pre-2007 credit cards could be unenforceable in court, I read the case and it being my job knew what to look for. So I pulled out the copies of the original agreements from the box under the bed, low and behold, both unenforceable.
              £500k CREDIT CARD limits!! Really?

              Me smells bull shit. Plus they'd be CCA exempt at that level
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

              If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

              Comment

              • #8
                Re: Saw this on MSE?

                Originally posted by Diasflac View Post
                £550k lol, I used to think my £7k Barclaycard limit was generous when I had it.
                Haha I missed a 0!!!
                I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                Comment

                • #9
                  Re: Saw this on MSE?

                  300k credit limit
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                  • #10
                    Re: Saw this on MSE?

                    Originally posted by Never-In-Doubt View Post
                    Lol lol lol



                    £500k CREDIT CARD limits!! Really?

                    Me smells bull shit. Plus they'd be CCA exempt at that level
                    Trying to work out how you would get one, I got 7k earning 20k a year in my first job at Barclays, that was with a pristine credit file. Assuming the same he'd have to earn £1,428,571.42 a year, that's hell of a redundancy package to be complaining about. This is all assuming credit card companies lend uniformly like that, which I doubt they do.

                    Comment

                    • #11
                      Re: Saw this on MSE?

                      I'm sure its a load of bovine excrement intended to stir up "anti-UE" sentiment. The OP only had posted 12 other times on MSE with a load of vague comments on other stuff.

                      I'm pretty sure that if someone had £800k of debt on credit cards and was going to court then they would have been on at least one of the forums if not here if this was genuinely the case!
                      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

                      The consumer is that sleeping giant.!!


                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                      Comment

                      • #12
                        Re: Saw this on MSE?

                        Originally posted by SaltnVinegar View Post
                        The OP only had posted 12 other times on MSE with a load of vague comments on other stuff.
                        Those posts are all TODAY, and AFTER the thread in question.
                        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                        Comment

                        • #13
                          Re: Saw this on MSE?

                          Originally posted by rizzle View Post
                          Those posts are all TODAY, and AFTER the thread in question.
                          All the more reason they are suspect
                          "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

                          The consumer is that sleeping giant.!!


                          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                          Comment

                          • #14
                            Re: Saw this on MSE?

                            Originally posted by SaltnVinegar View Post
                            All the more reason they are suspect
                            I didn't look that far into it, I don't believe it though, even if it was true, why would you take the risk?

                            Comment

                            • #15
                              Re: Saw this on MSE?

                              Originally posted by Diasflac View Post
                              I didn't look that far into it, I don't believe it though, even if it was true, why would you take the risk?
                              And as Niddy has already mentioned accounts over £25k aren't covered under the CCA1974 anyway which is why only certain Northern Rock Together mortgage customers were covered by their lack of compliance last year.

                              Only question is what is the motive of posting which we will likely never know.........
                              "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

                              The consumer is that sleeping giant.!!


                              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                              Comment

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