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I came across this website through Google and I'm very glad that I did.
Like many other thousands of poor sods who the Banks feel they can trample on, I am in trouble with Sainsbury's Bank.
In 2004 I got into grave financial difficulties with a number of creditors amounting to over £30K. I approached the CCCS (now known as Step Change) and a DMP Agreement was set up and I have since been making regular monthly payments by way of direct debit to pay off my creditors. I am happy to inform you that the outstanding debt now stands at £20K.
All my creditors including Sainsbury's agreed to the DMP. However in spite of their agreement, Sainsbury's were the only creditor who issued me with a Default Notice a month after accepting the agreement and they continued laying on interest charges. 4 years later they decided to get tough and register the default with the credit agencies and passed the debt to their recovery agency who subsequently passed it to Cabot Financial to whom I am still paying monthly.
I know they were legally entitled to lay on the interest charges in spite of agreeing to the DMP, but were they legally entitled to register the Default Notice 4 years after they agreed to the DMP? After all, my understanding is that CCCS was set up to help people who are in financial difficulties and since they registered the Default, my credit rating has caused me no end of problems and I still have to wait another year before it is removed.
The other question is, since 2004 until 2008 instead of my debt becoming lower it became increasingly higher by them adding on the interest. Is there any way I can claw back their interest charges?
I hope someone can help me please.
Like many other thousands of poor sods who the Banks feel they can trample on, I am in trouble with Sainsbury's Bank.
In 2004 I got into grave financial difficulties with a number of creditors amounting to over £30K. I approached the CCCS (now known as Step Change) and a DMP Agreement was set up and I have since been making regular monthly payments by way of direct debit to pay off my creditors. I am happy to inform you that the outstanding debt now stands at £20K.
All my creditors including Sainsbury's agreed to the DMP. However in spite of their agreement, Sainsbury's were the only creditor who issued me with a Default Notice a month after accepting the agreement and they continued laying on interest charges. 4 years later they decided to get tough and register the default with the credit agencies and passed the debt to their recovery agency who subsequently passed it to Cabot Financial to whom I am still paying monthly.
I know they were legally entitled to lay on the interest charges in spite of agreeing to the DMP, but were they legally entitled to register the Default Notice 4 years after they agreed to the DMP? After all, my understanding is that CCCS was set up to help people who are in financial difficulties and since they registered the Default, my credit rating has caused me no end of problems and I still have to wait another year before it is removed.
The other question is, since 2004 until 2008 instead of my debt becoming lower it became increasingly higher by them adding on the interest. Is there any way I can claw back their interest charges?
I hope someone can help me please.
to LegalBeagles,,I'm sure one of the bunch will be along to help you soon,,bear with us,,it's the weekend 
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