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FRAUD County Court Judgement - Credit Score - PO Box 300 Northampton NN1 2TX
Written to Credit Score today ..... Anyone else had this problem ??
I see that an update today tells me, I have a judgement against me. THIS IS FRAUD. This is from a Goldfish credit card taken out in 1996, on my husbands income (which you could do in those days) Years ago, when I was unable to pay the full amount every month, I paid a reduced rate. This was sold to some credit agency, then another, and then one that I was paying but my bank (Barclays) had no record of the company and could find no information regarding where all my payments had gone. I stopped paying any repayment in probably, 2004 as I did not trust any more letters that were sent to me, as Barclays were stumped too. I felt that these companies who buy credit debt were not to be trusted. Recently, well last 2 months, I have had 3 letters through the post, all looking as if they have been photocopied, and certainly not correct, original court forms. The first went in the bin, but thankfully, because I have cancer and M.E. I left the second in my "In" tray, and then opened the final one, sent a few days ago, this evening. I have no idea how this company is working, Hoist Finance UK Holdings Ltd, but it is not legal. They say this is from Barclays, but that is only because Barclays bought Goldfish in 2008. I am reporting this to the goverment financial authorities on Monday. I have no idea how they have done this .... but I am now on the case. Below is a history of the Goldfish card: THIS IS TO BE STOPPED NOW. THIS COUNTY COURT JUDGEMENT IS NOT WITHIN THE UK LAW. Thank you.
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Barclays buys troubled Goldfish as US firm says the UK is too tough
Jill Treanor
Fri 8 Feb 2008 00.50 GMT
The loss-making Goldfish credit card is being bought by Barclays for £35m, after a desperate attempt by its US owner to pull out of the UK credit card market. The move creates uncertainty for 1,000 employees in Scotland.
Discover Financial Services, one of the biggest issuers of credit cards in the US, bought Goldfish from Lloyds TSB two years ago, but has failed to make a success of the operation.
The problems associated with Goldfish became apparent last year when Discover reported an $84m (£42.8m) loss in the fourth quarter of its financial year because of a $391m write-down caused by a fall in the value of the brand.
Roger Hochschild, chief operating officer of Discover, said: "The UK market has proven to be quite challenging for the past couple of years for all card issuers. We've seen declines in profitability in the UK market."
He cited differences between the UK and the US, where legislation had been introduced to make it more difficult for individuals to declare themselves bankrupt. The opposite had been true in the UK, he said.
The deal with Barclays will require Discover to take a charge of $190m to $210m in its first-quarter 2008 accounts, but it is then expected to improve the company's earnings for the rest of the year.
Barclays is buying 1.7m credit card accounts and £2bn of receivables (the amount card users pay in interest). The final price will be determined from the net asset value of the business when the deal is completed. This is scheduled for May.
"While we have begun to see important progress in our UK business, the funding and operating environment there continues to be a challenge," said David Nelms, Discover's chief executive.
By selling Goldfish, Discover will be able to make a complete exit from the UK market. It had been trying to break into the UK since 1999, when its then parent company Morgan Stanley launched a credit card, which was wrapped into Goldfish after the acquisition from Lloyds TSB in December 2005. Morgan Stanley spun off Discover last year.
Discover has also found it more difficult to raise the finance on the international markets to keep lending money on credit cards. It had been involved in securitising its credit card loans - essentially packaging them up and selling them on to big banks - but this market has seized up since the global credit crunch hit last summer.
Barclays said it will integrate Goldfish into its Barclaycard operation, but would not indicate what will happen to Goldfish's 1,000 employees near Glasgow or the Goldfish brand, which is currently advertised by celebrities including Rik Mayall. Barclaycard has itself undergone a restructuring after running up losses caused by customers failing to pay their credit card bills on time.
In 2005, it was forced to make its largest ever provisions for bad debts of £1bn. It later sold off its Monument arm, which targeted customers with lower credit histories.
Antony Jenkins, chief executive of Barclaycard, said that Discover's UK credit card business has similar "credit characteristics" to Barclaycard's existing business.
Goldfish was created by Centrica in 1996 as a joint venture with Lloyds TSB, which bought it out in 2003 before selling it to Morgan Stanley in 2005.
I see that an update today tells me, I have a judgement against me. THIS IS FRAUD. This is from a Goldfish credit card taken out in 1996, on my husbands income (which you could do in those days) Years ago, when I was unable to pay the full amount every month, I paid a reduced rate. This was sold to some credit agency, then another, and then one that I was paying but my bank (Barclays) had no record of the company and could find no information regarding where all my payments had gone. I stopped paying any repayment in probably, 2004 as I did not trust any more letters that were sent to me, as Barclays were stumped too. I felt that these companies who buy credit debt were not to be trusted. Recently, well last 2 months, I have had 3 letters through the post, all looking as if they have been photocopied, and certainly not correct, original court forms. The first went in the bin, but thankfully, because I have cancer and M.E. I left the second in my "In" tray, and then opened the final one, sent a few days ago, this evening. I have no idea how this company is working, Hoist Finance UK Holdings Ltd, but it is not legal. They say this is from Barclays, but that is only because Barclays bought Goldfish in 2008. I am reporting this to the goverment financial authorities on Monday. I have no idea how they have done this .... but I am now on the case. Below is a history of the Goldfish card: THIS IS TO BE STOPPED NOW. THIS COUNTY COURT JUDGEMENT IS NOT WITHIN THE UK LAW. Thank you.
.................................................. .................................................. .................................................. .................................................. ...............
Barclays buys troubled Goldfish as US firm says the UK is too tough
Jill Treanor
Fri 8 Feb 2008 00.50 GMT
The loss-making Goldfish credit card is being bought by Barclays for £35m, after a desperate attempt by its US owner to pull out of the UK credit card market. The move creates uncertainty for 1,000 employees in Scotland.
Discover Financial Services, one of the biggest issuers of credit cards in the US, bought Goldfish from Lloyds TSB two years ago, but has failed to make a success of the operation.
The problems associated with Goldfish became apparent last year when Discover reported an $84m (£42.8m) loss in the fourth quarter of its financial year because of a $391m write-down caused by a fall in the value of the brand.
Roger Hochschild, chief operating officer of Discover, said: "The UK market has proven to be quite challenging for the past couple of years for all card issuers. We've seen declines in profitability in the UK market."
He cited differences between the UK and the US, where legislation had been introduced to make it more difficult for individuals to declare themselves bankrupt. The opposite had been true in the UK, he said.
The deal with Barclays will require Discover to take a charge of $190m to $210m in its first-quarter 2008 accounts, but it is then expected to improve the company's earnings for the rest of the year.
Barclays is buying 1.7m credit card accounts and £2bn of receivables (the amount card users pay in interest). The final price will be determined from the net asset value of the business when the deal is completed. This is scheduled for May.
"While we have begun to see important progress in our UK business, the funding and operating environment there continues to be a challenge," said David Nelms, Discover's chief executive.
By selling Goldfish, Discover will be able to make a complete exit from the UK market. It had been trying to break into the UK since 1999, when its then parent company Morgan Stanley launched a credit card, which was wrapped into Goldfish after the acquisition from Lloyds TSB in December 2005. Morgan Stanley spun off Discover last year.
Discover has also found it more difficult to raise the finance on the international markets to keep lending money on credit cards. It had been involved in securitising its credit card loans - essentially packaging them up and selling them on to big banks - but this market has seized up since the global credit crunch hit last summer.
Barclays said it will integrate Goldfish into its Barclaycard operation, but would not indicate what will happen to Goldfish's 1,000 employees near Glasgow or the Goldfish brand, which is currently advertised by celebrities including Rik Mayall. Barclaycard has itself undergone a restructuring after running up losses caused by customers failing to pay their credit card bills on time.
In 2005, it was forced to make its largest ever provisions for bad debts of £1bn. It later sold off its Monument arm, which targeted customers with lower credit histories.
Antony Jenkins, chief executive of Barclaycard, said that Discover's UK credit card business has similar "credit characteristics" to Barclaycard's existing business.
Goldfish was created by Centrica in 1996 as a joint venture with Lloyds TSB, which bought it out in 2003 before selling it to Morgan Stanley in 2005.
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