Commercial Court judge closes credit card debt and loans loophole | This is Money: "Judge closes 'cynical' debt loophole
Money Mail
13 October 2009
Reader comments (1)
No escape: A Judge has closed what he described as a 'cynical' lopphole to avoid paying back credit card debt
WANT TO KNOW MORE?Are debt free claims firms a con?
Lloyds launches bad-debt protection
Thrift rules as households pay off debt
THE DEBT TEST Find out if your debts are a problem. Take our 12-step debt test (average score 8).
>> Debt test
WAYS TO TACKLE DEBT1. Read the debt guides
2. Ask a debt question
3. Check your credit rating
4. Try the budget calculator
5. Reduce your debt repayments
DEBT REALITY CHECK How long to clear your credit card debt:
Wake up and smell the coffee...
- Card debt calculatorA decision by a judge in the Commercial Court will mean that thousands trying to have credit agreements made ' unenforceable' could have their cases kicked out.
Many have paid huge upfront fees to claims management companies who suggested they could get money owed on credit cards and loans erased."
Wednesday, 7 April 2010
Take the debt test | This is Money
Take the debt test | This is Money: "Take the debt test
You may think you are coping financially, but are you really in denial? This is Money has drawn together advice from some of the leading debt charities and, based on their experience, drawn up a list of 12 questions that will demonstrate whether you are in control of your cash or heading for a crash"
You may think you are coping financially, but are you really in denial? This is Money has drawn together advice from some of the leading debt charities and, based on their experience, drawn up a list of 12 questions that will demonstrate whether you are in control of your cash or heading for a crash"
'Write off your debt' firms face crackdown - Cartel Client fee fears | This is Money
'Write off your debt' firms face crackdown - Cartel Client fee fears | This is Money: "'Write-off debt' firms face crackdown
Alan O'Sullivan and James Coney, Money Mail
17 March 2010, 10:03am
Reader comments (5) |Chat | Deals
This is Money has been investigating and reporting on services that claim to be able to write off consumers' debts for a fee. Here is the latest installment in this saga that we have written together with Daily Mail's Money Mail..."
Alan O'Sullivan and James Coney, Money Mail
17 March 2010, 10:03am
Reader comments (5) |Chat | Deals
This is Money has been investigating and reporting on services that claim to be able to write off consumers' debts for a fee. Here is the latest installment in this saga that we have written together with Daily Mail's Money Mail..."
Bank could raid savings to pay your debts
James Coney, Daily Mail
Read more: http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=502410&in_page_id=7#ixzz0kPEWaaPn
Read more: http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=502410&in_page_id=7#ixzz0kPEWaaPn
Thursday, 15 October 2009
http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf
http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf
Friday, 7 August 2009
A chance for all bankrupts to change your life - Your help needed! - Page 2 - MoneySavingExpert.com Forums
A chance for all bankrupts to change your life - Your help needed! - Page 2 - MoneySavingExpert.com Forums: "Have done it! Is very easy and takes minutes"
http://www.writetothem.com/
http://www.writetothem.com/
A chance for all bankrupts to change your life - Your help needed! - Page 2 - MoneySavingExpert.com Forums
A chance for all bankrupts to change your life - Your help needed! - Page 2 - MoneySavingExpert.com Forums: "Have done it! Is very easy and takes minutes
This is my adaptation of your letter - anyone feel free to cut and paste!"
This is my adaptation of your letter - anyone feel free to cut and paste!"
Monday, 22 June 2009
BBC Panorama write off debt | Loophole clears couple’s debts | Write off illegal unfair loans | Consumer Credit Act 1974 « Write Off Credit Cards & Loans
BBC Panorama write off debt | Loophole clears couple’s debts | Write off illegal unfair loans | Consumer Credit Act 1974 « Write Off Credit Cards & Loans: "BBC Panorama write off debt | Loophole clears couple’s debts | Write off illegal unfair loans | Consumer Credit Act 1974"
How To Legally Write Off Credit Card Debt « Write Off Credit Cards & Loans
How To Legally Write Off Credit Card Debt « Write Off Credit Cards & Loans: "How To Legally Write Off Credit Card Debt"
Council Tax Rebanding: Lower your band and save £1,000s...
Council Tax Rebanding: Lower your band and save £1,000s...: "Council Tax Rebanding
Lower your band and save £1,000s"
Lower your band and save £1,000s"
http://www.entitledto.co.uk/
People across the UK are missing out on benefits and tax credits worth more than £8 billion a year.
Wednesday, 20 May 2009
What can I do if I experience Financial Difficulties?
What can I do if I experience Financial Difficulties?
We acknowledge that some of our customers, even when they borrow responsibly, can fall into financial difficulty when circumstances are out of control. At MBNA we are committed to helping our customers get out of debt as quickly as their circumstances allow and various repayment options can be discussed with our debt advisors on 0800 0280690
The Consumer Credit Counselling Service provide a free online tool, CCCS Debt Remedy that can tailor advice depending on your individual circumstances.
Alternatively, there are many non fee charging Debt Advisory Services to help you take control of your debt and arrange free payment plans with all your creditors.
| Consumer Credit Counselling Service www.cccs.co.uk Call free: 0800 138 1111 | National Debtline www.nationaldebtline.co.uk Call free: 0808 808 4000 | Citizens Advice Bureau www.nacab.org.uk |
| Pay Plan Kempton House Dysart Road Grantham Lincolnshire NG31 7LE www.payplan.com Call free: 0800 917 7823 | Debt Advisory Service - Scotland Head Office: Suite 201-203, Baltic Chambers 50 Wellington Street Glasgow G2 6HJ www.debtadvisoryservice.co.uk Call free: 0808 808 4000 | |
| If you want information regarding your credit file, you can contact: | ||
| Experian Ltd Consumer Help Service P.O. Box 8000 Nottingham NG80 7WF www.experian.co.uk Tel: 0844 481 8000 | Equifax Plc P.O. Box 1140 Bradford BD1 5US www.myequifax.co.uk Tel: 08700 100 583 | Callcredit Limited One Park Lane Leeds West Yorkshire LS3 1EP www.callcredit.co.uk Tel: 0113 244 1555 |
Wednesday, 6 May 2009
Egg hikes cash withdrawal fees by 66%
Egg customers who withdraw cash on their credit cards are in for a shock, as charges are set to soar by 66%.
Egg card: Cash withdrawal charges are on the up
Egg customers should use their credit cards with caution, as the minimum cash withdrawal fee will increase from £3 to £5 - or 3% whichever is greater - from 28 May.
The move by Egg is claimed to be designed to deter customers from making small cash withdrawals with their credit card, as this is often a clear sign of financial difficulty.
Louise Bond, at comparison site, uSwitch.com, says: 'The rationale for this change is reasonable. However, we strongly advise customers not to use this facility on any credit card unless they are really desperate for the cash.
'Interest is applied to credit card cash withdrawals from the day they are made and the APR is generally far higher than that applied to purchases.'
Credit card customers already pay £161m in interest making a total of 38m credit card cash withdrawals every year.
Research from uSwitch.com has shown that 7.3m, or 16% of credit card customers, use this facility around five times a year, making average withdrawals of just under £100 every time.
Previously this would have cost Egg customers £3 for each of these withdrawals, this will now increase to £5 - totalling £25 a year in withdrawal fees alone in a year.
http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=483081&in_page_id=9
Egg card: Cash withdrawal charges are on the up
Egg customers should use their credit cards with caution, as the minimum cash withdrawal fee will increase from £3 to £5 - or 3% whichever is greater - from 28 May.
The move by Egg is claimed to be designed to deter customers from making small cash withdrawals with their credit card, as this is often a clear sign of financial difficulty.
Louise Bond, at comparison site, uSwitch.com, says: 'The rationale for this change is reasonable. However, we strongly advise customers not to use this facility on any credit card unless they are really desperate for the cash.
'Interest is applied to credit card cash withdrawals from the day they are made and the APR is generally far higher than that applied to purchases.'
Credit card customers already pay £161m in interest making a total of 38m credit card cash withdrawals every year.
Research from uSwitch.com has shown that 7.3m, or 16% of credit card customers, use this facility around five times a year, making average withdrawals of just under £100 every time.
Previously this would have cost Egg customers £3 for each of these withdrawals, this will now increase to £5 - totalling £25 a year in withdrawal fees alone in a year.
http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=483081&in_page_id=9
10.2m pay credit card penalties
This is Money25 July 2007
One in four credit card holders has been made to pay a penalty fee in the past year, a survey has revealed.
An estimated 10.2m people paid more than £230m between them after being late with a monthly payment or going over their credit limit.
Financial website moneysupermarket.com, which conducted the survey, said that despite the high numbers caught out, only 12% of card holders would like to see penalty fees replaced with a set monthly or annual charge.
Rob Kenley, the website's head of credit cards, said: 'Penalty fees still affect a significant proportion of the population and providers are raking in some hefty cash, even after the Office of Fair Trading imposed a £12 cap.'
But he said the survey suggested consumers would not respond well to the idea of monthly or annual card fees. 'If providers were thinking about introducing them, they would have to offer cardholders much more than simply replacing penalty fees,' he said.
Longer 0% introductory offers or higher cashback offers could be a starting point.
Earlier this month, a report from moneyexpert.com suggested credit card customers had paid out nearly £50m to banks in missed payment fines in the past six months, even though card companies have slashed their penalty charges.
Up to 4.1m monthly card payments have been missed since the start of the year, equating to around 694,506 per month. Card companies charge £12 when a payment is missed, which is around half the level they used to charge following an Office of Fair Trading investigation.
And price comparison website uSwitch saidmillions of consumers face being in debt for up to 30 years if they make only the minimum repayments on their credit cards each month. It said 10% of cardholders, the equivalent of about 3.5m people, make only the minimum repayment each month. Most credit card companies set minimum monthly repayments at 2.6% of the outstanding balance, with 35 card providers setting them at just 2%.
http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=422705&in_page_id=9
One in four credit card holders has been made to pay a penalty fee in the past year, a survey has revealed.
An estimated 10.2m people paid more than £230m between them after being late with a monthly payment or going over their credit limit.
Financial website moneysupermarket.com, which conducted the survey, said that despite the high numbers caught out, only 12% of card holders would like to see penalty fees replaced with a set monthly or annual charge.
Rob Kenley, the website's head of credit cards, said: 'Penalty fees still affect a significant proportion of the population and providers are raking in some hefty cash, even after the Office of Fair Trading imposed a £12 cap.'
But he said the survey suggested consumers would not respond well to the idea of monthly or annual card fees. 'If providers were thinking about introducing them, they would have to offer cardholders much more than simply replacing penalty fees,' he said.
Longer 0% introductory offers or higher cashback offers could be a starting point.
Earlier this month, a report from moneyexpert.com suggested credit card customers had paid out nearly £50m to banks in missed payment fines in the past six months, even though card companies have slashed their penalty charges.
Up to 4.1m monthly card payments have been missed since the start of the year, equating to around 694,506 per month. Card companies charge £12 when a payment is missed, which is around half the level they used to charge following an Office of Fair Trading investigation.
And price comparison website uSwitch saidmillions of consumers face being in debt for up to 30 years if they make only the minimum repayments on their credit cards each month. It said 10% of cardholders, the equivalent of about 3.5m people, make only the minimum repayment each month. Most credit card companies set minimum monthly repayments at 2.6% of the outstanding balance, with 35 card providers setting them at just 2%.
http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=422705&in_page_id=9
Unethical Practice - Loan Account/Credit Card
Posted By: stien on 12/10/2004 Location: Colorado Springs, CO
After reading the other reviews regarding MBNA, it seems that this company has developed a pattern. I also agreed to terms and agreements over the phone with a customer representative and received by post a completely different agreement. When I telephoned MBNA, their response was that they sent me in writing the terms and agreement and I should have read and been more cognisant of their terms.
Unfortunately, I trusted MBNA to give me the correct information over the phone and not change the terms of agreement in writing. Silly me! MBNA definitely changed the terms of agreement in writing and apparently this is a patterned practice for this company. They really should be ashamed of themselves. The second MBNA representative that I spoke with agreed with me that I would have been better off keeping my two MBNA credit cards rather than consolidating them. Not only did MBNA increase the percentage rate that we were paying on the credit cards but they also charged $700 to consolidate the loans. If MBNA would like to repair the damage, I request that my $700 be refunded and my initial - agreed upon rate of 8.9% be instated.
http://www.my3cents.com/showReview.cgi?id=7878
After reading the other reviews regarding MBNA, it seems that this company has developed a pattern. I also agreed to terms and agreements over the phone with a customer representative and received by post a completely different agreement. When I telephoned MBNA, their response was that they sent me in writing the terms and agreement and I should have read and been more cognisant of their terms.
Unfortunately, I trusted MBNA to give me the correct information over the phone and not change the terms of agreement in writing. Silly me! MBNA definitely changed the terms of agreement in writing and apparently this is a patterned practice for this company. They really should be ashamed of themselves. The second MBNA representative that I spoke with agreed with me that I would have been better off keeping my two MBNA credit cards rather than consolidating them. Not only did MBNA increase the percentage rate that we were paying on the credit cards but they also charged $700 to consolidate the loans. If MBNA would like to repair the damage, I request that my $700 be refunded and my initial - agreed upon rate of 8.9% be instated.
http://www.my3cents.com/showReview.cgi?id=7878
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