Struggling with debt and unsure about your legal options? Get online legal advice from a UK solicitor for just £5, potentially saving you a fortune in the long run. Click the link: justanswer.9pctbx.net/c/2873512/2107196/9320
Can you please get in touch with me as I have important information to help with Surviving Economic abuse. As a survivor there are things I have learned things you would not believe, but with you platform you’ll be able to reach more people.
Thank you had to revisit your video because I’ve been watching you for awhile and I did exactly what you said wait wait at the deck goes down. I got a £4000 debt reduced to £500 thank you❤😂
There’s wisdom in this video, but I think that if you make payments, especially to a debt collector, you are getting into contract. I think yes, write to them, but check evidence. I’ve had an on going correspondence with Cabot for over two years, and Hoist Finance I brushed off saying I had no interest in any goods or services from them and no intention to enter into contract, again two years ago, and never heard from them again. The law is open to interpretation, alas, but the Bills of Exchange act 1882 section 23 does seem to suggest that you would have to be in contract with a third party before they could make such a claim against you. I value your thoughts. I’m still on a learning curve
Your point about the Bills of Exchange Act is certainly valid. I have challenged Cabot, Robinson and Way and Link Financial quoting this act and they have all gone away
@@johnfellowes1070This is good news. Sometimes they might claim that the legislation is not relevant. But it is. It aims to regulate cheques, commercial instruments, bills of exchange, agreements etc in the UK. When you take out a loan you give the lender the agreement (generally you will have signed it). This they hold as an asset, say for £10k, and this enables them to credit your account by tapping the figure of 10k in your account. They don’t gamble with the money of investors or stakeholders. The money doesn’t come from somewhere. The bank is not acting as intermediary. This is why they will quickly sell the £10k debt to agencies cheaply. In books on contract law it states that the only Person (ie the bank), who can enforce the debt is the bank. One important question is: What did you agree to? Generally the small print might say that the bank can use a debt collector or that it can be assigned elsewhere. But you have no agreement or contract with the debt collector and it is wise not to do anything that might arguably get you into contract. Cheers Peter
Do not make payments without challenging their claim. If they have a Notice of Assignment, then they own the debt. The Bills of Exchange Act of 1882 is still valid and they have to have a signed contract with you to make any debt legal. In the past I have seen off Cabot and Robinson Way by asking them to provide a signed contract between them and me which, of course, they could not do. Do not be intimidated by these companies. You have more rights than you may think. Good luck to one and all
@@bennycarvalho2680Interesting question. I know of no mechanism whereby a third party firm can negatively affect a credit score. They will often mention in their letters that a CCJ could affect your credit score, but they don’t have much to go on unless you actually agree to pay them sums of money over a period of time (courts cannot enforce anything vague). In my own experience, I have not paid a debt collector for years and my credit score is healthy. But this might not be the same for everyone. Obviously I take a more radical approach than this video but I see their letters as offer of contract so I make a photocopy and send it back (‘I return to you all contractual documents’ etc). Remember, they are making a claim against you so they carry the burden of proof. You won’t need to say much. To sum up: from personal experience a credit score is not affected by shaking off these companies. Probably a good idea to keep an eye on your score. Peter
What if its not from any of these its a ccj for a a fine they sent to my old address a year ago for driving in a clean air zone in Birmingham didnt even see it . 😢
I’m actually going through financial difficult time and I have credit card loan which I’m returning but now unfortunately I lost my job and going through lots of stress. Do you suggest to write a letter to my creditors and ask them request them for breathing space I will still pay little to them as much as I possibly can but will it effect my credit scoring or credit history. Kindly guide me thanks.
Question: so why don’t people just do this strategy with the token stuff rather than going through a DMP and paying so much for so many years?? Thanks :)
A piece of advice this is for people who are in serious debt. Also this stays on your credit record for 5 years. The cons are you will struggle to get a high street mortgage and loans your credit score will be in the minus. This youtuber is working with a company who makes profit off people who dont need it my advice stay away unless you really need it.
@@ishaal3291 thanks for your reply but that still doesn’t make sense coz you’d still be in the same situation with a DMP or an IVA, it will stay on your record for longer than 5 years and you will still struggle to get a mortgage and you are still paying high monthly rates, whereas with this you are paying like £5/m then they discount up to 80% but with other schemes you still paying £200-£900/m and they don’t discount it.
I’m actually going through financial difficult time and I have credit card loan which I’m returning but now unfortunately I lost my job and going through lots of stress due to unemployment Do you suggest to write a letter to my creditors and ask them request them for breathing space I will still pay little to them as much as I possibly can but will it effect my credit scoring or credit history. Kindly guide me thanks.
@@PakistanCurrenthi, yes even if you ring them and tell them your current situation. They will go through with you how much your earning and your expediture and work out a new payment plan for you no problem, 👍
How much is National Debtline giving you for this information…? The way to deal with Debt Collectors is to ask them for the Deed of Assignment. No deed - no deal. They’d need this in court to enforce anything. They dont possess it. Claim is dismissed (more likely discontinued by the DCA).
Can someone make me understand if I have a default worth 2.2k for a previous credit card I had and the company that bought the debt offered me 60% discount on it . Should I accept the partial settlement or pay it in full ? I can afford to pay it off but should I if I can avoid paying the full amount ? Would that affect my future applications for a mortgage if it comes off in 1 year ? Another question I have is that I have a default on a standard bank account because I used my overdraft and did not pay it . Have not received a letter or anything regarding this , it is only showing on transunion , equifax and experian doesn`t show anything regarding the default just that it is settled . Should I speak with them to pay it off or just wait it out as 6 years are coming to an end ?
Can you please get in touch with me as I have important information to help with Surviving Economic abuse. As a survivor there are things I have learned things you would not believe, but with you platform you’ll be able to reach more people.
@@MoneyNerd They can, they just need to work harder and be responsible, do you expect everyone else to pick up their bills? Because that is what is happening.
its an iva the same solution you bash hahahaha -listen debt is for people struggling , never listen to these people go off what you qualify for is it manageable and sustainable.ITS ALSO NIOT A SECRET TO WRITE OFF DEBT GET A GRIP
Yes, because that would have been very very funny - especially if she'd managed to keep a straight face and pretend any if that bunkum actually works in the real world.
Struggling with debt and unsure about your legal options? Get online legal advice from a UK solicitor for just £5, potentially saving you a fortune in the long run. Click the link: justanswer.9pctbx.net/c/2873512/2107196/9320
Can you please get in touch with me as I have important information to help with Surviving Economic abuse. As a survivor there are things I have learned things you would not believe, but with you platform you’ll be able to reach more people.
This is probably the best video upload regarding debt write off on TH-cam
Many thanks for the video
Very informative ❤
Thank you had to revisit your video because I’ve been watching you for awhile and I did exactly what you said wait wait at the deck goes down. I got a £4000 debt reduced to £500 thank you❤😂
Any dept write off option without effecting your credit history for 6 years. If anyone knows please reply back thanks
There’s wisdom in this video, but I think that if you make payments, especially to a debt collector, you are getting into contract. I think yes, write to them, but check evidence. I’ve had an on going correspondence with Cabot for over two years, and Hoist Finance I brushed off saying I had no interest in any goods or services from them and no intention to enter into contract, again two years ago, and never heard from them again.
The law is open to interpretation, alas, but the Bills of Exchange act 1882 section 23 does seem to suggest that you would have to be in contract with a third party before they could make such a claim against you. I value your thoughts. I’m still on a learning curve
Your point about the Bills of Exchange Act is certainly valid. I have challenged Cabot, Robinson and Way and Link Financial quoting this act and they have all gone away
@@johnfellowes1070This is good news. Sometimes they might claim that the legislation is not relevant. But it is. It aims to regulate cheques, commercial instruments, bills of exchange, agreements etc in the UK.
When you take out a loan you give the lender the agreement (generally you will have signed it). This they hold as an asset, say for £10k, and this enables them to credit your account by tapping the figure of 10k in your account. They don’t gamble with the money of investors or stakeholders. The money doesn’t come from somewhere. The bank is not acting as intermediary. This is why they will quickly sell the £10k debt to agencies cheaply. In books on contract law it states that the only Person (ie the bank), who can enforce the debt is the bank.
One important question is: What did you agree to? Generally the small print might say that the bank can use a debt collector or that it can be assigned elsewhere. But you have no agreement or contract with the debt collector and it is wise not to do anything that might arguably get you into contract.
Cheers
Peter
But will the debt still stay on on credit history???even if they've gone away?
Do not make payments without challenging their claim. If they have a Notice of Assignment, then they own the debt. The Bills of Exchange Act of 1882 is still valid and they have to have a signed contract with you to make any debt legal. In the past I have seen off Cabot and Robinson Way by asking them to provide a signed contract between them and me which, of course, they could not do. Do not be intimidated by these companies. You have more rights than you may think. Good luck to one and all
@@bennycarvalho2680Interesting question. I know of no mechanism whereby a third party firm can negatively affect a credit score. They will often mention in their letters that a CCJ could affect your credit score, but they don’t have much to go on unless you actually agree to pay them sums of money over a period of time (courts cannot enforce anything vague).
In my own experience, I have not paid a debt collector for years and my credit score is healthy. But this might not be the same for everyone.
Obviously I take a more radical approach than this video but I see their letters as offer of contract so I make a photocopy and send it back (‘I return to you all contractual documents’ etc).
Remember, they are making a claim against you so they carry the burden of proof. You won’t need to say much.
To sum up: from personal experience a credit score is not affected by shaking off these companies. Probably a good idea to keep an eye on your score.
Peter
Is it true that if you don’t make a payment with in 6 years it gets written off ? and if you write to them in writing it restarts the debt ?
What if its not from any of these its a ccj for a a fine they sent to my old address a year ago for driving in a clean air zone in Birmingham didnt even see it . 😢
I’m actually going through financial difficult time and I have credit card loan which I’m returning but now unfortunately I lost my job and going through lots of stress. Do you suggest to write a letter to my creditors and ask them request them for breathing space I will still pay little to them as much as I possibly can but will it effect my credit scoring or credit history. Kindly guide me thanks.
Check out ‘the real debt guy’ you can pay small token payments until you become financially more stable
They're not the creditor YOU'RE the creditor.
Question: so why don’t people just do this strategy with the token stuff rather than going through a DMP and paying so much for so many years?? Thanks :)
A piece of advice this is for people who are in serious debt. Also this stays on your credit record for 5 years. The cons are you will struggle to get a high street mortgage and loans your credit score will be in the minus. This youtuber is working with a company who makes profit off people who dont need it my advice stay away unless you really need it.
@@ishaal3291 thanks for your reply but that still doesn’t make sense coz you’d still be in the same situation with a DMP or an IVA, it will stay on your record for longer than 5 years and you will still struggle to get a mortgage and you are still paying high monthly rates, whereas with this you are paying like £5/m then they discount up to 80% but with other schemes you still paying £200-£900/m and they don’t discount it.
I’m actually going through financial difficult time and I have credit card loan which I’m returning but now unfortunately I lost my job and going through lots of stress due to unemployment Do you suggest to write a letter to my creditors and ask them request them for breathing space I will still pay little to them as much as I possibly can but will it effect my credit scoring or credit history. Kindly guide me thanks.
@@PakistanCurrenthi, yes even if you ring them and tell them your current situation. They will go through with you how much your earning and your expediture and work out a new payment plan for you no problem, 👍
@@abdallahfarooq thanks for your prompt reply I’m greatful. Do you think it will effect my credit history by new payment agreement with them.
How much is National Debtline giving you for this information…?
The way to deal with Debt Collectors is to ask them for the Deed of Assignment. No deed - no deal. They’d need this in court to enforce anything. They dont possess it. Claim is dismissed (more likely discontinued by the DCA).
You have nailed it.
@@PPCmenace The way to deal with debt collectors is to avoid them, don't get in debt!!
Shouldn't be denying any debt as it's actually a credit 🤯
@anti-stupid-not--vax9629😂😂😂😂😂
Can someone make me understand if I have a default worth 2.2k for a previous credit card I had and the company that bought the debt offered me 60% discount on it . Should I accept the partial settlement or pay it in full ? I can afford to pay it off but should I if I can avoid paying the full amount ? Would that affect my future applications for a mortgage if it comes off in 1 year ?
Another question I have is that I have a default on a standard bank account because I used my overdraft and did not pay it . Have not received a letter or anything regarding this , it is only showing on transunion , equifax and experian doesn`t show anything regarding the default just that it is settled . Should I speak with them to pay it off or just wait it out as 6 years are coming to an end ?
Send me your email address. I will show you how to write off the 'Debt' legally. Without any payment.This Lady has not yet taken the Red Pill.
@@FHIPrincePeterThat actually sounded quite legit until the last few words. 😂😂😂
You don't liaise with them at all that is the first mistake right..?
At the end will affect your credit score.
Credit scores 😂 they're fiction
@anti-stupid-not--vax9629 And yet also important if you want to get a mortgage, car loan, mobile phone, broadband, credit card etc.
Can you please get in touch with me as I have important information to help with Surviving Economic abuse. As a survivor there are things I have learned things you would not believe, but with you platform you’ll be able to reach more people.
EconomiC abuse?
If you borrow money you should pay it back !
Some people get into situations where they can't afford to
@@MoneyNerd They can, they just need to work harder and be responsible, do you expect everyone else to pick up their bills? Because that is what is happening.
@@union310 what if there was an emergency or health costs or disability?
@@union310 have you heard of the USA?
@@MoneyNerd Then you shouldn't have spent up front
She's copying another guys info straight up
BOE - 1882...
Brilliant 👏👏👏
its an iva the same solution you bash hahahaha -listen debt is for people struggling , never listen to these people go off what you qualify for is it manageable and sustainable.ITS ALSO NIOT A SECRET TO WRITE OFF DEBT GET A GRIP
Shame she's not talking about your strawman, or your Cestui que vie trust
Strawman 🙈 it's the principal
Yes, because that would have been very very funny - especially if she'd managed to keep a straight face and pretend any if that bunkum actually works in the real world.