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  • Roscoe UE Diary

    Hi everyone, I’m a newcomer but in need of a lot of help. My journey into debt began a long time ago but accelerated with the financial crash. I was self-employed and one of 3 directors of a small limited company from 2003-2007. The business was doing quite well but began to lose customers and contracts as the financial crash took hold. Then, one of my fellow directors decided to cut two of us out of a new product that we’d been developing, and on which we’d pinned our hopes. That individual set up a separate company and took the rights to the product even though all 3 of us had contributed equally and were therefore out of pocket. The loss of trust caused me to take on a part-time job and continue on a self-employed basis on my own.

    I was just about managing but in difficult months started to rely on my credit cards. After 2 years of struggle I embarked on another business with a good friend and together we made managed to obtain a significant contract, in partnership with a not-for-profit organisation. We’d won the contract and they had the administrative back up that we lacked. All was well for around 18months, at which point the other organisation withdrew its support. The customer then closed the project briefly and then transferred the whole contract to the other organisation. We sought legal advice and were told that we had a strong case for breach of contract. However, legal fees could be tens of thousands of pounds. We were therefore advised to try to negotiate a settlement. The legal fees had already mounted up and me and my business partner decided to cut our losses and accept a relatively low settlement. It left us both more than £20,000 out of pocket. During that process my wife and I moved to a small house but needed a relatively large mortgage that I acquired on the basis of the salary from my part time employment that I’d continued with.

    My wife persuaded me to look at this forum but I was reluctant to stop paying the credit cards so continued to pretty much pay them every month and then live off them. Looking back, our food and clothing etc. was just being paid for with the cards. I’d even drawn down a pension to continue paying the cards. In June, I felt I couldn’t cope any longer as my health had begun to suffer. For the first time in 40 years I missed a payment. I’m at the stage now that without the credit card payments we can just about manage each month. I’m really glad that my wife kept on at me to stop paying, but I now dread the phone ringing and the post arriving.

    I requested CCAs and would really appreciate any advice on how I can now move forward. I'll now add a summary of my cards etc. and upload the agreements for Niddy to check.

  • #2
    Re: Roscoe UE Diary

    CSMA Credit Card
    Date commenced: Approx. 1995
    Approx Balance £12000
    Date last paid June 2016
    Defaulted July 2016
    Account owner Barclaycard

    Requested CCA and they supplied a copy of a signed agreement showing that the card was taken out with CSMA in 1995 and, at some point, taken over by Barclaycard. Interest has continued to be added, so debt continues to rise.

    Comment


    • #3
      Re: Roscoe UE Diary

      Barclaycard Credit Card
      Date commenced: Approx. pre 2007
      Approx Balance £12000
      Date last paid June 2016
      Defaulted July 2016
      Account owner Barclaycard

      Requested CCA and they supplied a reconstituted agreement and interest has continued to be added, so debt continues to rise

      Comment


      • #4
        Re: Roscoe UE Diary

        Mint Credit Card
        Date commenced: 2000 (with RBS Advanta)
        Approx Balance £10000
        Date last paid June 2016
        Defaulted July 2016
        Account owner Mint

        Requested CCA and they supplied a copy of a signed agreement with RBS Advanta dated 24/1/2000. Continued to add interest.

        23/9/16 - Arrears letter
        29/9/16 - Default letter
        20/10/16 - Letter notifying that account was terminated and full repayment required

        Comment


        • #5
          Re: Roscoe UE Diary

          HSBC Credit Card
          Date commenced: Approx. 1976
          Approx Balance £10000
          Date last paid June 2016
          Defaulted – July2016
          Account owner HSBC

          Request made for CCA and HSBC has written to say they do not have the agreement and accept that it is unenforceable but that I have a moral duty to pay.

          Comment


          • #6
            Re: Roscoe UE Diary

            Thanks for your email Niddy, will now email CCAs.
            Last edited by Roscoe; 1st December 2016, 23:52.

            Comment


            • #7
              Re: Roscoe UE Diary

              Hi Roscoe , post 5 is great news keep that letter very very safe. As you have already got Niddy on the case you couldn't be in safer hands. Moral duty to pay ? Yeah right. Please never speak to them on the phone everything in writing, or if you do answer just tell them you will only deal in writing and put the phone down .There is also an alternative number available from this site you could sent them .Good luck with your journey you're in the right place, easier said than done ,but try to relax now.x

              Post up anything they send you and we'll go from there.
              if you do it today and you like it you can always do it again tomorrow


              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


              • #8
                Re: Roscoe UE Diary

                Hi Roscoe, welcome to AAD. You will get loads of letters and phone calls; as nanna has said don't speak on the phone - refuse to answer security questions and we have a template to cover this. Niddy will let you know about the enforceability of your agreements and you will then be given appropriate advice. Post updates here and then you will receive guidance on whether or how to reply. Read some of the diaries and you will see how posters have moved from despair as they regain control of their finances and their lives. Good luck
                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


                • #9
                  Re: Roscoe UE Diary

                  Going off the dates most, if not all, of those should be UE but wait for Niddy's decision.

                  They'll bombard you with letters and calls in the beginning to try to wear you down but stand firm! As for interest being added...it doesn't matter if they're UE and you're not going to pay them anyway.

                  Moral duty? We've all been in the frame of mind at the beginning where we thought that we needed to pay something because we've had the money but how moral were the lenders throwing cards and 0% balance offers at us like confetti?

                  BTW glad you finally listened to your wife
                  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.

                  Comment


                  • #10
                    Re: Roscoe UE Diary

                    I'm grateful to Niddy for looking at my agreements and he's confirmed that this one appears to be UNENFORCEABLE:

                    Barclaycard Credit Card
                    Date commenced: Approx. pre 2007
                    Approx Balance £12000
                    Date last paid June 2016
                    Defaulted July 2016
                    Account owner Barclaycard

                    Most recent activity
                    5th January 2017 Default notice issued by Barclaycard under section 87(1) of CCA1974. Enclosed a Default Information Sheet from FCA

                    Should I do anything about this or just ignore it?

                    Comment


                    • #11
                      Re: Roscoe UE Diary

                      Unfortunately, Niddy has advised that this one looks as though it's ENFORCEABLE

                      Mint Credit Card
                      Date commenced: 2000 (with RBS Advanta)
                      Approx Balance £10000
                      Date last paid June 2016
                      Defaulted July 2016
                      Account owner Mint

                      Most recent activity:
                      12th January 2017 Letter from Moorcroft telling me to contact them by phone.

                      How should I respond? I'm getting around 10 phone call per day to both mobile and landline but I haven't answered.

                      Comment


                      • #12
                        Re: Roscoe UE Diary

                        You could send the harassment template off to stop the calls, unless anyone says differently

                        Comment


                        • #13
                          Re: Roscoe UE Diary

                          Originally posted by Roscoe View Post
                          I'm grateful to Niddy for looking at my agreements and he's confirmed that this one appears to be UNENFORCEABLE:

                          Barclaycard Credit Card
                          Date commenced: Approx. pre 2007
                          Approx Balance £12000
                          Date last paid June 2016
                          Defaulted July 2016
                          Account owner Barclaycard

                          Most recent activity
                          5th January 2017 Default notice issued by Barclaycard under section 87(1) of CCA1974. Enclosed a Default Information Sheet from FCA

                          Should I do anything about this or just ignore it?
                          Just date it, staple it to the envelope it came in and file it.
                          Originally posted by Roscoe View Post
                          Unfortunately, Niddy has advised that this one looks as though it's ENFORCEABLE

                          Mint Credit Card
                          Date commenced: 2000 (with RBS Advanta)
                          Approx Balance £10000
                          Date last paid June 2016
                          Defaulted July 2016
                          Account owner Mint

                          Most recent activity:
                          12th January 2017 Letter from Moorcroft telling me to contact them by phone.

                          How should I respond? I'm getting around 10 phone call per day to both mobile and landline but I haven't answered.
                          Originally posted by JLC View Post
                          You could send the harassment template off to stop the calls, unless anyone says differently
                          Yes I would send the telephone harrassment letter which you can find in the AAD+template section. Do you want to blag this one? (ie act as if it's enforceable) Several of us have done this and have reached SB but the decision is yours.
                          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.

                          Comment


                          • #14
                            Re: Roscoe UE Diary

                            Originally posted by Pixie View Post
                            Just date it, staple it to the envelope it came in and file it.




                            Yes I would send the telephone harrassment letter which you can find in the AAD+template section. Do you want to blag this one? (ie act as if it's enforceable) Several of us have done this and have reached SB but the decision is yours.
                            Thank you for the suggestions about the harassment letter. I didn't send it and just ignored the calls.

                            Now received another letter saying they're aware that I've failed to agree a repayment plan and, that unless they can agree a repayment plan, any default their client may have registered will remain on my credit file. To prevent possible further action they say I must reply by 22nd Feb. Should I continue to ignore? Thank you in advance for any suggestions or advice.

                            Comment


                            • #15
                              Re: Roscoe UE Diary

                              Since any default is highly unlikely to come off your credit reference file even if you paid in full today thats not a very impressive threat
                              When you have nothing you have nothing to lose

                              Comment

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