Banking?

Psycho Sonny said:
I'm pretty sure he's already done for. He has what £7k worth of debt which isn't a small amount for a credit card with their monthly interest. It's also the maximum they were willing to loan him. He also doesn't have a clue how they work. Apparently he thinks it's free money or an interest free loan he never needs to pay back.

How he has managed to survive this long I'll never know. You can bet he's a low earner too. He will be lucky to make the minimum monthly repayment now his interest is £200 a month. End up either filing for bankruptcy, bailiffs or some financial service which consolidates all his loans into 1 low monthly fee.
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thatescalatedquickly.txt
 
Freakbro said:
This reminds me, I'll see if there's an episode of Cant Pay We'll take It Away on catchup TV to watch
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This weeks was even more over the top than usual. Blocking police in requiring them to get more people there yet get released without even a slap on the wrist.
 
A friend of mine (stupidly) bought a car from a dodgy second hand car place in Peterborough, it blew up in 4 days and they lost their money as the company just played every trick in the book.....well ****** me if that garage wasn't on the show getting cars taken away!
 
Freakbro said:
A friend of mine (stupidly) bought a car from a dodgy second hand car place in Peterborough, it blew up in 4 days and they lost their money as the company just played every trick in the book.....well ****** me if that garage wasn't on the show getting cars taken away!
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your friend was ignorant of the laws and regulations then. your covered when you buy a car from anybody these days even more so if it's a dealer. especially if it happens within such a short space of time.
 
Psycho Sonny said:
your friend was ignorant of the laws and regulations then. your covered when you buy a car from anybody these days even more so if it's a dealer. especially if it happens within such a short space of time.
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Oh they knew that, they went to CAB, Trading Standards, even enquired with a relative who is the police and got nowhere....followed all the advice they were given, but because they didn't have any more money to follow up on what was needed and the garage knew how to be obstructive, they just gave up

I know the system does work for some people as I saw cars being towed away on the show, but it doesn't work for everyone
 
Freakbro said:
Oh they knew that, they went to CAB, Trading Standards, even enquired with a relative who is the police and got nowhere....followed all the advice they were given, but because they didn't have any more money to follow up on what was needed and the garage knew how to be obstructive, they just gave up

I know the system does work for some people as I saw cars being towed away on the show, but it doesn't work for everyone
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all they would have required was evidence supporting the fact the garage wasn't willing to help at all. and a mechanics report from another reputable garage and take it to court. if it's such a clear cut case they would have recouped all their legal fee's too.
 
That was the point, they didn't have the money to outlay to then get back after a fairly lengthy claim procedure

His partner is disabled, he hasn't worked for years and is her carer, they were on the breadline and with the cuts to DLA and PIP and then this (with other bad choices that went wrong) it finally sunk them

He has now lost his house, she is in social housing and he is probably going to end up on the street in the end, once the money from the house sale has gone. There are other issues such as depression going on etc etc it's been a real mess and due to circumstances he is going to fall through the cracks of any social safety net that is there
 
First thanks for the info.

Would like to say paying back the money is not a problem at this time. I'm also not in financial difficulty.
I first got the card a few years back and it expired Jan this year with a new card again until 2022 and for the first month's until march all I was doing was paying back the minimum amount,but since then they have been taking money out of the card with interest, so they do that plus I'm also having to pay the minimum amount. So the extra cash part is what I'm curious about. Will call them I think.
 
It looks like you may have reached your credit limit every month when they add on the interest so they're taking off the amount to take you back to £6900
 
Threads gone from OP asking for some debt advice to OP is a ******* bum and bailiffs will be knocking.

GD, it's great :)

e: I bet you are a racist bigot to and are a member of EDL etc etc :D
 
DX24 said:
First thanks for the info.

Would like to say paying back the money is not a problem at this time. I'm also not in financial difficulty.
I first got the card a few years back and it expired Jan this year with a new card again until 2022 and for the first month's until march all I was doing was paying back the minimum amount,but since then they have been taking money out of the card with interest, so they do that plus I'm also having to pay the minimum amount. So the extra cash part is what I'm curious about. Will call them I think.
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So you have no special rate on your card currently? Just that your card expired?

If you can't pay it off and you are paying interest on the balance it may be worth transferring it to a interest free balance transfer card.
 
Psycho Sonny said:
How he has managed to survive this long I'll never know. You can bet he's a low earner too. He will be lucky to make the minimum monthly repayment now his interest is £200 a month. End up either filing for bankruptcy, bailiffs or some financial service which consolidates all his loans into 1 low monthly fee.
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Charming! What do you class as a low earner?
 
DX24 said:
First thanks for the info.

Would like to say paying back the money is not a problem at this time. I'm also not in financial difficulty.
I first got the card a few years back and it expired Jan this year with a new card again until 2022 and for the first month's until march all I was doing was paying back the minimum amount,but since then they have been taking money out of the card with interest, so they do that plus I'm also having to pay the minimum amount. So the extra cash part is what I'm curious about. Will call them I think.
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You haven't had your "credit renewed" or anything like that. It sounds to me that you are confusing the expiry of your card with having some kind of review of your credit. Nothing has changed with your credit facility, you have just been issued with a replacement card, which happens every 3 years usually on every plastic card, be it a credit or debit card.

Your payments are nothing to do with having a replacement card issued. Already been stated that it is likely to be just your minimum payment plus enough to stop it going over limit. You say repayment isn't a problem. Generally if you have had the card for a number of years and only been able to cover interest and the card is maxed out then it indicates you do have cause for concern. A 0% balance transfer is worth exploring to try and help you get the debt down. Also a good idea to stop spending on it...
 
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