Hi everyone, I just joined and need help!

[zentrix9]

Hi all, over the last few years my wife and myself have run up a large debt with several credit cards as listed below

hsbc 5299 & 10,249
virgin 5070 & 9367
santander 2932
llotds tsb 748
tesco 3767

total 37,432

Only recently we have started to miss payments, then sent the letters asking for CCA.
To date I have recieved information back from all except Tesco. The 14 day period is now up so do I send Tesco a default letter and put it in dispute?

I think HSBC may be trying it on. They have sent me a copy written out by them not a photocopy. They state they dont need to send me one, however they have sent a photocopy of the orginal my wife signed for her card.
She claimed back her IPA from them around 12 - 18 months ago and I read on the net last night that if they have missold the IPA it can invalidate the contract. Is this true cos if it is surely them paying it back is an admission of misselling it.

I look forward to lots of help.
I am hoping that all the info sent to me by my creditors wont hold up and should I now put all the accounts in dispute and ask for SAR to get the real copies (and hopefully find that they have lost them )

[Amethyst]

Re: Hi everyone, I just joined and need help!

Keep up with your minimum payments as much as you can whilst you sort this out else you risk destroying your credit record needlessly.

Sort out the issues with the companies first. Have you discussed your current situation with the cards ? Why have you started struggling to make the payments - eg through downturn in your income or have they whacked up interest rates etc?

Yes a recreated copy of the agreement will now suffice and satisfy a court (if it is a true recreation with original terms etc) the CCA guys will outline that more as it can be complex.

Have a read of this ~~~ Consumer Credit Agreements - A Guide ~~~~ inc. Letters - Legal Beagles Consumer Forum (it does need updating following Carey etc cases, but the principles remain the same)

[zentrix9]

Re: Hi everyone, I just joined and need help!

Yes income has gone down as I was self emploted. Next week I will be employed PAYE.
My credit rating isnt that good now so as I am about to send out the dispute letters and then the SAR is it any benefit to me to keep paying?

I will be posting all the documentation that I have recieved back later tonight so hopefully someone can take a look at them.

[Amethyst]

Re: Hi everyone, I just joined and need help!

Depends if you want to be taken to court, have DCA's hounding you and your credit file trashed or not. Even if the agreements are faulty its advisable to keep paying while you sort it, saves a lot of bother in the long run (ditching DCA's, defending court hearings, fighting to clean your credit file) Thats just my opinion though.

[zentrix9]

Re: Hi everyone, I just joined and need help!

Ok so keep paying. So at what point would you say that its best to stop the payments.

[WendyB]

Re: Hi everyone, I just joined and need help!

Why would you want to stop the payments anyway? Whenever you stop paying, they will begin hounding you with phonecalls, DCAs and so on. Far easier to carry on paying minimum payments, whilst at the same time claim back any PPI and also any overlimit and late payment charges. Less stressful too, to get it sorted out before you get defaulted and get all the grief and hassle if them chasing you.

[zentrix9]

Re: Hi everyone, I just joined and need help!

I like to make them work for their money and as they cant supply me with a copy cos they cant find it the account is in dispute now. They have issued me with a default notice which has now expired. All I am waiting for now is for them to close the account. I should be able to get them on issuing an invalid default and invalid termination so all they can then chase is arrears. Just waiting and claiming back PPI, charges and underpayment from a claim under section 75.

[Amethyst]

Re: Hi everyone, I just joined and need help!

Do you own your own home?

You have only just started missing payments. You can set up a repayment plan with the creditors, based on affordable amounts worked out proportionally from your income and expenditure sheets. Some will accept and stop interest/charges, some will accept but keep adding interest/charges, some won't accept at all and take you to court.

Once offered make a point of paying the amount offered each month. Keep strict records of these payments.

While you are doing that go through and sort out one creditor at a time, some will force your hand taking you to court - you can then either defend on cca issues if there are any viable, or can get the installment you have already offered set by the court.

Don;t just stop paying them all in the hope they wont find agreements.

[Amethyst]

Re: Hi everyone, I just joined and need help!

All I am waiting for now is for them to close the account. I should be able to get them on issuing an invalid default and invalid termination so all they can then chase is arrears. Just waiting and claiming back PPI, charges and underpayment from a claim under section 75.

I dont get that if the default period hasnt ended yet anyway ?

PPI & Charges & sec 75 underpayment yep, with you on that, the rest I'm a bit lost with.

[Master Yoda]

Re: Hi everyone, I just joined and need help!

Destroy the Debt Side we shall, by whatever means and however long it takes

[zentrix9]

Re: Hi everyone, I just joined and need help!

Tesco has issued me a default notice that is invalid. They have then terminated the account. This is an unlawfull termination so all they can get from me is any arrears.
HSBC have issued me a default notice which looks like it is valid although it hasbeen issued while I have put the account in dispute. They are not allowed to do this under the CCA regulations.
They can take me to court if they like but they cant find the "application form" at the moment. I would very much like them to explain to the judge how they supplied me a copy of my application form when they couldnt find it (I have this in writing dated after they issued me a reconstituted application for which incidently has no prescribed terms and conditions on it making it unenforcable) They are allowed to reconstitute an agreement if they have the original in their possesion and they have admitted at the time they sent me the copy they hadnt got it. I see that as they have broken the law.
Please correct me if I am wrong.
I have around 12k to come back from HSBC and about the same from MNBA in charges, PP etc. When I get them back I should actually be debt free and in a position to make a FFS, but only to any debts that are enforcble. The others can carry on playing their silly intimidation games and stalling tactics cos I know how they play now, I learn very fast.