Start of my unenforceabilty journey

[unicorndeva]

Re: Start of my unenforceabilty journey

14 different debts/// or am I seeing double? case of failure to check out applicants file and debts listed by some of these creditors?

15 if you take the Natwest one as overdraft and loan (the loan people phoned up and offered it to us - we didn't seek it out, and we were already in considerable debt when they did phone). But remember these are 'spread' between two people!

[The Tech Clerk]

Re: Start of my unenforceabilty journey

14 different debts/// or am I seeing double? case of failure to check out applicants file and debts listed by some of these creditors?

financial hardship and unaffordable lending - Financial Ombudsman

www.financial-ombudsman.org.uk › publications › online technical resource


is what I am refering to possible:-

[unicorndeva]

Re: Start of my unenforceabilty journey

financial hardship and unaffordable lending - Financial Ombudsman

www.financial-ombudsman.org.uk › publications › online technical resource


is what I am refering to possible:-

That's interesting! My problem though, is that we may not have the necessary information to pursue this route as we've lost a lot of paperwork?

[nightwatch]

Re: Start of my unenforceabilty journey

Thanks for starting your Diary, hubby and I had 20 diffrent debts between us so don't worry how many you have. we are here to help not judge.

when I found this site I was so worried about the amount of debt we were in, I had been doing a self managed repayment plan , but was starting to be threatened with alsorts of things by a couple of DCA companys, even though I was paying what we could afford.
I was working all hours to try and pay them off, came here sent of for the CCA's, turns out most of our debts were UE and havent been paid since, lot's of letter ping pong, but I just file it away,
any problems and there is always someone here that will help.
good luck in your journey NW

[unicorndeva]

Re: Start of my unenforceabilty journey

Thanks Nightwatch, for your words of encouragement!!!
By the time we went for the DMP 6 years ago I was holding down 5 jobs (I'm self employed so they were 5 different contracts) and bringing up 4 children pretty much on my own as OH was working in the US because it paid more. Gradually the severe stress I was under caused me to get depression and anxiety which has led to type 2 diabetes and high blood pressure. I'm not able to work much any more because of extreme tiredness and brain fog. I know we are at fault for taking out so much debt but the creditors have to shoulder some of the blame for lending us so much, surely? Especially the Natwest who used my husbands overdraft as a reason to phone him and sell him yet another loan (I think that loan is one of our youngest debts). Anyway, I'm a bit stronger now and ready to do whatever it takes to not pay another penny to them!

'Never in Doubt' mentioned on another thread that UE may not be the right way to go for us (we have a lot of equity in the house) so I was wondering if any of you guys would give your opinions as to whether we should go down this route and if not, what our options are? I just want to steam ahead with going self managed etc while my head is in the right place.

[JLC]

Re: Start of my unenforceabilty journey

I have a lot of equity in my home but only one of my debts are enforceable. I think the difference is, though, that my debts are mine and my house is joint with my husband who has no debts. My husband is retiring in September which means we will pay off our entire mortgage so my house will have 100% equity.

[unicorndeva]

Re: Start of my unenforceabilty journey

Just gone through some old paperwork and found out that the Natwest loan was taken out in July 2007 (bad luck there as this is out largest debt!).

I paid for Experian for one month to see if they had start dates for the debts. They don't but they do have age of debts! Are Experian reliable for these dates? If so, all of the other debts are pre April '07.

Can I ask some advice please? Do you feel going down the UE route is right for us (considering we have a fair bit of equity in our house) or should we consider a different way? Many thanks

[nightwatch]

Re: Start of my unenforceabilty journey

Each case is different, we cannot tell you what is right for you. we can let you know what we have done ( read some of the diarys) all of us have dealt with things in different ways.
if you read mine make yourself a cuppa and somthing to eat, it's a long read.
but it will be up to you what route you wish to take, what ever you decide we will be here to hlp you along
we had a mortgage, hubby retired and we paid it off, so we have 100% equity in our house,
should of sold up and moved abroad, but Mum was taken ill and is now in a home, so things are in limbo. will now have to see who wins the election. as I don't fancy having to sell up if OH has to go in a home, just to pay for his care.

[unicorndeva]

Re: Start of my unenforceabilty journey

Each case is different, we cannot tell you what is right for you. we can let you know what we have done ( read some of the diarys) all of us have dealt with things in different ways.
if you read mine make yourself a cuppa and somthing to eat, it's a long read.
but it will be up to you what route you wish to take, what ever you decide we will be here to hlp you along
we had a mortgage, hubby retired and we paid it off, so we have 100% equity in our house,
should of sold up and moved abroad, but Mum was taken ill and is now in a home, so things are in limbo. will now have to see who wins the election. as I don't fancy having to sell up if OH has to go in a home, just to pay for his care.

Nightwatch, thanks once again! Have read some of your diary and... wow! The incompitance of these people is astounding... have to give them marks for persistance though!

I've decided this is the right course for us with AAD's help and advice, so over the weekend I'll continue with going self-managed on the DMP and gradually cease payments on accounts that can't provide a valid CCA... will keep you informed!

[cymruambyth]

Re: Start of my unenforceabilty journey

You have now listed everything and although it is scary it's the first step to regaining financial control, which actually leads to you feeling calmer about everything. You will get loads of letters and phone and phone calls, we will then point you in the right direction.
Like you I had equity; I lost a court case ( pre AAD and a wonderful judge who thought that balance of probabilities was more important than facts or the law) and fought successfully to stop a CO. So depending on the age of your agreements you may be able to fight everything - although post April 2007 closes a lot of doors it is amazing how careless they all are and how many other errors can be found.

[unicorndeva]

Re: Start of my unenforceabilty journey

I've added a few updates. Cabot have said they'll no longer chase the NRAM account as it's unenforceable... does this mean they'll sell it on, do you think?

[nanna58]

Re: Start of my unenforceabilty journey

Not sure about that, even if they do send a copy of the letter to whoever writes and remember to keep it very very safe, that's your trump card. Well done xxxx

[Pixie]

Re: Start of my unenforceabilty journey

Well done on the letter from Cabot. As Nanna says, keep it very safe!

Just a small point: When updating your diary it's helpful if you put the month (and year) you receive/send any letters otherwise it may well become a bit of a mish mash down the line.

[unicorndeva]

Re: Start of my unenforceabilty journey

Another update re: PRA Group deeming my Barclaycard account unenforceable. Do I still need to send a copy agreement to Niddy?

[nightwatch]

Re: Start of my unenforceabilty journey

If PRA have said it is unenforceable you don't need to, just keep the letter safe x