Immoral?

[mauijim]

I read other post about this idea and wanted to add my view. I am sorry if this is repeating but wanted to get this off my chest.

I had decent business and things were okay. Banks and credit cards throwing money at me and yes I was stupid to get too much but that is now history. I then had accident which was not my fault I was hit by driver who jumped red light on crossing

My world fell apart no work no anything and when I need help from bank they pull plug. I had never defaulted in 30 years of business but when money stopped coming into account they started to harass me. They call me each day and then pulled plug on overdraft. Credit cards no better they just call many times and not listen to me. Yes some were okay and suspend charges but most pressure me into paying money I could not afford.

Then I find I have PTSD according to doctor and things become very bad for me. So when I need help these people just kick me and not understand my problem. They don't want to understand and I get passed to DCA time and again. So I ask how moral that is?

I try to sort things fairly but they not want to play that way. So now I look at UE and I hope I win. Even if I don't then at least I tried and having been through hell I cannot see how they can make it worse.

[pompeyfaith]

Re: Immoral?

Mauijim,

You are right at the end of the day they cannot have what you aint got so the best option is to fightback and if that means UE so be it because as you say they turned the screw so you have to turn that screw back.

Good Luck

[caspar]

Re: Immoral?

Mauijim,
Totally with Pompey here. Pretty much the same happened to me. That is what makes me believe anything I do back now is not immoral in any way. The only thing you can do is fight back as hard as you can.

Good luck - you'll have plenty of help here!

[mauijim]

Re: Immoral?

Hi all, thanks for the replies. A quick update.

I have good friend who is in dire financial trouble and sadly it is where his business partner did a runner and left him to carry the can. Anyway I have been telling him for about 6 months to look at better ways to sort his finance but he didn't listen. He seems to have gone about things a funny way. He has paid 70% of the old debts and these creditors were the ones who basically screwed his credit file. He was then left with debts on new cards and these were all post April 2007.

This morning I was talking to him and was when he told me he had transferred the old CC debts to new CC as a way of keeping the wolves away. So now he had £00000s on new CCs and is struggling to pay. Talk about out of the frying pan into fire! I ask him why he did that and mentioned what I am doing and he said he couldn't follow UE because it's immoral. I guess we're all different but that seemed crazy for me!

[garlok]

Re: Immoral?

There is nothing immoral about all this MJ. The law is the law and if they ain't got it right then the penalty under the law is no pay. We didn't write it but it was written to protect us from the predatory nature of the banks.

Work it out, in our own cases on the cards which were 25 years old we had repaid over 5 times all of our purchases and cash withdrawals. We were fully up to date and illness struck on top of their recession in our business and when we tried to talk to them reasonably they let the dogs loose with a vengeance.

No there is no marality issue here, my conscience is absolutely clear.

regards
Garlok

[pompeyfaith]

Re: Immoral?

Mauijim,

Have to agree with Garlok here, you have to fight according to the law there is nothing immoral about that and statute law is written to protect the consumers.

Those statute laws are being ripped apart by common law and Judges draconian judgements and brought about by the costly barristers that the banks hirer however that does not mean we should throw in the towel far from it.

We must carry defending ourselves as judgements do go our way and that balance we must keep going.

Regards

[mauijim]

Re: Immoral?

Hi Garlok and Hi Pompeyfaith

I am 100% with you, I do not find this to be immoral at all and like you my conscience is clear.

I just find it very strange that my good friend would think that way. He was shafted by his friends and the creditors who offered no help to him. He had lots of CC debt that was almost certain to be UE but he moved it to new cards on low/zero interest. Now the offer is over he is in the mire again and once again the creditors are giving him a hard time!

Thanks MJ

[Ames]

Re: Immoral?

It's no more immoral than bankruptcy, or offering f&f's. It's using a law that's there to protect us.

In my case, I have severe mental illness and took out a 7k loan when I was on benefits. I came to my senses a few weeks later when I still had most of the money and called them for help as I couldn't make the repayments. They said that the loan shouldn't have been approved as I wasn't working so didn't meet their conditions. But wouldn't help me with reducing payments, or paying some of the loan straight back.

I struggled for years, mainly using the loan to pay the repayments (and rent when my HB claim took a year to be sorted), before I had to default. By then I'd paid back more than half of the loan amount (I think it was pretty close to the full amount but can't remember).

UE saved me from bankruptcy.

[nanna58]

Re: Immoral?

Jus how much ( iwonder ) have we paid back in interest over the years?

[MustGetStraigh]

Re: Immoral?

Jus how much ( iwonder ) have we paid back in interest over the years?

I daren't even think about it. Just looking at how much my balances increased from the time I stopped paying to the time they defaulted shows me it must be a scary amount!

[pompeyfaith]

Re: Immoral?

Well any credit card company that hikes interest rates on being informed that you have difficulties like MBNA did to me, deserve all they get

[Ames]

Re: Immoral?

Well any credit card company that hikes interest rates on being informed that you have difficulties like MBNA did to me, deserve all they get

Or ones who write and say that since you've gone over your limit, to save you charges they've increased the limit.

[CleverClogs (RIP)]

Re: Immoral?

So now he had £00000s on new CCs and is struggling to pay. Talk about out of the frying pan into fire! I ask him why he did that and mentioned what I am doing and he said he couldn't follow UE because it's immoral. I guess we're all different but that seemed crazy for me!

Tell him that it is also immoral for banks and DCAs to fail to comply with the simplest requirements of the law, yet they bully, browbeat and lie to debtors by claiming that unenforceable debts can be enforced at law.

[CleverClogs (RIP)]

Re: Immoral?

Well any credit card company that hikes interest rates on being informed that you have difficulties like MBNA did to me, deserve all they get

Mafia Bank of North America?

Just be grateful they no longer insist on defaulters wearing concrete boots.

[MattyA]

Re: Immoral?

They are feckers....but so are :
Barclaycard,Amex,RBS,BOS,HSBC in my experience at least.