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stupid thing

Post by projectzoo on Thu Dec 06, 2018 5:55 pm

Before i came across this con/sham i missed a payment to a credit card and got the call from them, i done the income expenditure, given them £1 a month witch the first payment came out of my account. ( wish i knew then what i know now).
So anyone know the best way to play this,should i just pay £1 a month till it gets sold to a DCA & do the 3 letter, or stop paying the £1 and start sending the letters.

Many thanks on a reply to this

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Re: stupid thing

Post by Mrblue2017 on Fri Dec 07, 2018 6:10 am

Hello the zoo,

For clarity, what do you mean be “con/sham”?

Thank you.

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Re: stupid thing

Post by projectzoo on Fri Dec 07, 2018 9:46 am

Whats going on with the banks and the government its one big con

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Re: stupid thing

Post by Mrblue2017 on Fri Dec 07, 2018 10:54 am

Thanks for clarifying. Personally I have never ‘signed up’ to the £1 per month type agreement. As such, I can’t be sure as to which templates you would use. I’ll leave it to one of our other friends on here to respond :-)

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Re: stupid thing

Post by projectzoo on Fri Dec 07, 2018 1:52 pm

No worries,i came across another debt web site and the advice was go for a token payment £1 a month, oyetvchannel.com if check this guy out you will know what am on about

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Re: stupid thing

Post by Mrblue2017 on Fri Dec 07, 2018 1:58 pm

So how long will it take to write-off the debt for you? For how many years do you have to pay £1 per month? And what happens after that? Are all your debts written off? Will there still be defaults on your credit file or will you still have to wait 6 years for them to become Statute barred?

Hopefully a more experienced member/moderator here can help point out what the advantages are of the letters system over paying £1 per month. If not, I'll raise a separate post in due course.

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Re: stupid thing

Post by projectzoo on Fri Dec 07, 2018 3:55 pm

83.3 Years lol, was hoping the debt would get sold on to the likes of lowell and co, then they have bought your debt and you don't have a contract with them so that's it no more debt, send the letters to them, Wont do it again i just got trapped off them for the £1 a month as am new to this, was wondering what was the best way to play this i.e carry on as above and hope the debt gets sold off to a DCA or stop paying the £1 and start sending the 3-letters process ? The topic stupid thing was about me for doing this in the first place as am all for given them jack, if i add up all the fines and late payments over the years i now feel they owe me.

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Re: stupid thing

Post by Mrblue2017 on Fri Dec 07, 2018 4:51 pm

In future use a more meaningful title for the thread and you’re much more likely to get people to respond :-)

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Re: stupid thing

Post by Ausk on Mon Dec 10, 2018 12:08 pm

@Mrblue2017 wrote:Thanks for clarifying. Personally I have never ‘signed up’ to the £1 per month type agreement. As such, I can’t be sure as to which templates you would use. I’ll leave it to one of our other friends on here to respond :-)

I've read the DC/creditors tend to abandon these agreements after a while because they are just too much trouble for too little gain.

Should you need to consider a 50P for 50 years repayment option, then it could be quite handy.

When determining what one can afford to pay back on a weekly basis, take everything you currently spend on now, into account.

When calculating what you could afforded, you are under no obligation to go cold, hungry, thirsty, poorly clothed, poorly fed, without transport etc. You under no obligation to sell your assets such as your personal conveyance, personal possessions, furniture etc, etc just to be able to pay back more than 50P for 50 years if that's what it takes.

A DC has NO rights to tell you how much of your income you should allocate to debt repayments.

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Re: stupid thing

Post by projectzoo on Tue Dec 11, 2018 7:41 pm

thanks for that ausk

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Re: stupid thing

Post by assassin on Wed Dec 12, 2018 2:12 am

This is nothing but a scam because by paying £1 per week or month you are deemed to be in a legally binding contract and servicing the alleged debt, this is for one simple reason, when you fail to service an alleged debt for 6 years, 5 in Scotland then the debt is statute barred anyway and cannot be enforced. You are also deemed to have acknowleged the alleged debt as yours and accept that you have a debt, and that you have agreed to service the debt, and by acknowledging acceptance of the debt you are now legally bound to pay it.

If you pay this token amount for 2 years as an example, then you cannot easily deny the debt is yours, you cannot deny the debt was serviced, and you have added another 2 years to your six years of not servicing the debt before it becomes statute barred.
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Re: stupid thing

Post by projectzoo on Wed Dec 12, 2018 11:22 am

Hi assassin.
I don't want to pay the £1/month, i was asking if its to late to start sending 3-letters
or do i have to carry on till it gets passed over to one of the DCA, and i do belive that the DCA has bought the debt and cos i don't have a contract with them the debt is finished,i was informed it could take a few month or up to a year before the cc compant sell it off ?

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Re: stupid thing

Post by daveiron on Wed Dec 12, 2018 12:34 pm

Hi,
who are you paying the £ 1 .00 to ? Who is communicating with you ? When was this account opened & how much (approx) is it for?
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Re: stupid thing

Post by projectzoo on Wed Dec 12, 2018 2:41 pm

Credit card company,opened 6moths ago,for about £1000,only paid £1 so far after missing payment,it was done down the phone

Thanks for

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Re: stupid thing

Post by Ausk on Tue Jan 01, 2019 10:57 am

@projectzoo wrote:83.3 Years lol, was hoping the debt would get sold on to the likes of lowell and co, then they have bought your debt and you don't have a contract with them so that's it no more debt, send the letters to them, Wont do it again i just got trapped off them for the £1 a month as am new to this, was wondering what was the best way to play this i.e carry on as above and hope the debt gets sold off to a DCA or stop paying the £1 and start sending the 3-letters process ?  The topic stupid thing was about me for doing this in the first place as am all for given them jack, if i add up all the fines and late payments over the years i now feel they owe me.

One of the major traps in this x amount per month, at least where I live; is that should you miss just one payment, even if its a stuff up at the bank and not your fault, the DC or whomever; can go running into the court and apply to commence bankruptcy proceedings against you immediately. 8 times out of 10 when this happens the application is granted.

This results in the looters visiting your home and plundering everything you have. I mean; they cant be certain that 1500 car, that 600 TV and 300 worth other items, is going to net the 200 quid debt in today's market can they? So they take the lot.

So what you may wish to consider doing and given you have the resources to do it, is to scrape up a hundred quid or so and go to them and tell them you dont have a brass razoo to pay them any more than 10p per month for x years from now on, even though you may have already agreed to pay five quid a week.

However; its their lucky day. Your supporters have have given you this 70-80 or so quid to enable you to make them an offer and get rid of the debt so you can get on with your life.

The offer is that they agree, should they accept (all this in writing) the debt is thereby extinguished, closed and settled and that they will make no further claims on you regarding this matter. They also agree to remove any negative remarks they have caused to be entered into any credit register anywhere.

Sometimes to these people a bird in the hand is worth two in the bush.

Should that fail then you tell them that you will be returning that money in your hand to the donors and that you will be making application to the court to vary your payments down from 'x' to 'y' because things have got harder for you for x reason.

What you can afford to pay is for YOU to decide.

No debt law anywhere, as far a I know; says you have to go cold or hungry, suffer poor nutrition or that you must commit x% of your income to debt payments in order for your repayments to be fair and reasonable to the creditor, do they?

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