Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin credit

[SXGuy]

This guy rang in to LBC this morning talking about his debts, its been confirmed that the average debt today is around 85k.

Anyway, he told Nick Ferrari, he had been making minimum payments on 2 credit cards for the last 5 years because he didn't want to ruin his credit.

He then went on to state that no one was offering him credit in any other form in the last 5 years to pay the credit cards off.

Now, this just goes to show how a lot of people are ignorant to the truth or just mis informed. Had he tried the UE route, he'd have 1 year left before he was debt free.

Instead he has around 24 years at the current repayment (based on total debt of 18k and avg apr 19%) before his debts go away. Surely he can see that keeping credit when no one is offering him any is not the answer to sorting out his debts?

[PriorityOne]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

There's still so much confusion out there. I've lost count of the times I've referred people I know to this site only to find they haven't registered; usually because they want me to do it all for them. People need to be more pro-active in all kinds of ways, I think.

[cymruambyth]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

Don't forget people are not only ignorant of the law, but are also in denial or don't recognise how bad their position is.

when we encountered problems many years ago we borrowed to pay off and or survive; we thought we were doing the best and keeping a good credit record! If I had known then what I know now, I would have cleared a very large amount of debt through UE and had several years of a clear credit record! Instead I am a couple of years away from having all the old defaults cleared.

[PriorityOne]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

Don't forget people are not only ignorant of the law, but are also in denial or don't recognise how bad their position is.

when we encountered problems many years ago we borrowed to pay off and or survive; we thought we were doing the best and keeping a good credit record! If I had known then what I know now, I would have cleared a very large amount of debt through UE and had several years of a clear credit record! Instead I am a couple of years away from having all the old defaults cleared.

Yes, I agree. Years ago, I also borrowed to survive and they were desperate times.....

Unfortunately, there's still a stigma about not being able to manage on what you've got coming in but once people know there's help out there, they really do need to get pro-active and the beauty of AAD is that they can do this anonymously.

[SXGuy]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

I agree, we have all been there, rob peter to pay paul. Pay the min and draw it out again, we have all done it. I found AAD by chance some years ago, I greatful I did, because its helped my mother out so much, I cant even begin to count the amount of money that's UE as a result.

But she had to get to the point where enough is enough and something had to be done, and perhaps this guy isn't quite there yet.

[garlok]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

Same as you P1. We have referred a number of people here, some whom we thought had it all made only for it to come out that they have the most horrendous problems. One case had had to go to Stepchange (Uggh!) who had rigged them up with an unmanageable unsustainable DMP which will run at least until they are 70. One creditor they failed even to get to freeze the interest, Capital One I think. So that will NEVER be paid off.

They registered but have not become active, why? Because they say they are too busy working to do the reading and the writing up, like over 18 hours a day. We even got them to come over and stay with us for a few days and I gave them lessons here on this site how to start dealing with their problems.

What else could we have done or what else can we do? We sure can lead horses to water but I don't think we can force them to drink.

regards
G

[cymruambyth]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

The other point is we have found AAD and know what help is available but, how many people are scared that this is some enormous scam ( my OH probably does think that posting isn't quite right!) or they have been on other sites and either been given poor advice or the implication is that you have borrowed you should pay, no matter what.

[PriorityOne]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

I've even tried to get around any concerns about posting online by telling them I'm a moderator on here.

Maybe they just think I'm dodgy....

[SXGuy]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

a family friend rang me some time ago out of their wits with worry about their debts, had all sorts of misconceptions about consumer debt under CCA and things like unpaid parking tickets, it was a lengthy phone call explaining the differences.

I advised him what to do and assured him it would be fine, told him to come here, and yep, never heard or seen from again. I think you can only do so much to try and help some people.

Im sorry but saying youre too busy is not a good enough excuse, its obviously not bothering you that much or you would find time to sort it. Maybe burying your head in sand is a quicker way to avoid reality of dealing with debt, who knows!

[Deepie]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

You can take a horse to water...........

[garlok]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

I think you make a good point Cymru. It became my personal view that all of the other sites one way or another have sold their souls to the devil. I just cannot believe what I saw a couple of years or so ago now on what were supposedly help and support forums. I rarely if ever go anywhere else, I cannot be bothered with the claptrap that is spouted, often by people who should know better. A lot of people therefore I think are being put off by the so called "bigger" forums. One in particular which is rife with private little chat rooms in which character assassinations are carried out on a regular basis, VIP memberships and those that post to only seek accolades in the "thank you" boxes. There are people out there in real need, some desperately, yet they are mocked by so called experienced posters.

The media do not help either by the regular stories of on-line bullying etc. which is self evident on some consumer forums even to the most cursory examination. We can only chip away gently by demonstrating our own integrity at this monolith of reluctance.

There you go----- Rant over

regards
G

[nightwatch]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

Most admit mr nw would still be trying to struggle along if I hadn't said enough ls enough, had a look on the cccs site, and used their template to offer reduced payment s
No aad then it was me that dealt with all the calls and letters, nothings changes, still is me doing all the work, his head isn't in the sand, at times its up his backside.

[SXGuy]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

Most admit mr nw would still be trying to struggle along if I hadn't said enough ls enough, had a look on the cccs site, and used their template to offer reduced payment s
No aad then it was me that dealt with all the calls and letters, nothings changes, still is me doing all the work, his head isn't in the sand, at times its up his backside.

[PlanB]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

One in particular which is rife with private little chat rooms in which character assassinations are carried out on a regular basis, VIP memberships and those that post to only seek accolades in the "thank you" boxes. There are people out there in real need, some desperately, yet they are mocked by so called experienced posters.

^^^^ I think you'll find that Legal Beagles is now 100% in favour of UE which is obvious to anyone who reads Paul's posts on there. Or you may even be aware of the 13 statutory demands which have been set aside by the site owner since April all based on unenforceability.

We're all in this together

[MrsD]

Re: Radio Caller been making min payments on credit cards for 5 years cos he didnt want to ruin cred

still a lot of horses milling around out there with no idea where the water is.

just google something pertaining to UE or the CCA and then wade your way through the mountain of rubbish that comes up, everything from you've borrowed it, pay it, to get your bags packed they'll come for you to take you to prison. methinks the banks are quite happy for this to continue