The claims business people have been around for years.
First there was the "has anyone had an accident?" brigade.
Then mis-sold endowment policies for paying off mortgages.
Next Payment Protection Insurance mis-selling
And know Unenforceable Contracts.
The debate will go on and on.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Size5 does your firm undertake DMPs with HMRC as creditors - lot of callers to the Samaritans here who are being chased by the Revenue and trying to find a DMP company who takes on the Revenue is not easy - particularly where I live
We do, with the caveat that whilst the IR are normally happy to have payment plans in place it is not a 100% guarantee, sometimes they are a law unto themselves and a lot depends on the nature and history of the debt.
If it is at all viable VA's are normally the safer route, as the IR are generally very supportive of them.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Just reading the thread here and I agree with most points - I took out a secured loan, knowing full well what I was getting myself into (I can read English perfectly well!!). I then tried to rectify the situation so I remortgaged with my current mortgage company (not a high street bank), but also had other debts already and these along with the new mortgage just accumulated thus I am borrowing from Peter to pay Paul. I will be the first to also confess that I have lived beyond my means - never communicated with my husband about my debts and he never spoke to me about his hence we are in this terrible situation (unlike others I haven't had any terrible circumstances happen to me), but it's not one that I want to walk away from without consequence - I have every intention of paying back what I owe or as much as I can. However, we do have to acknowledge that banks and lenders out there are quite irresponsible in their approach. My case is quite complex because one of my two assets is a brand new car (the other is the house) and whilst in my opinion it's a modest car, Mazda 5, it was very needed (we travel 120 miles everyday to get to and from work and school - and our old car,12 years old, up until July had cost us over £1,000 - this year alone to stay on the road) and actually mostly paid for in cash by my mother-in-law who also needs the car to get around (she is 80 and has health issues) my husband drives her to and from where she has to go or else she would be house bound.
My mother in law gave the cash for the new cash which partly was her savings from under the mattress and she was offered a loan from her bank for £3,000 plus a £2,000 overdraft facility and also a £1,000 mastercard - poor mother in law unlike me does not speak or understand very good English took the loan thinking that she was helping us get this car for all of us - looks like the car might have to be sold and money given to creditors and she's left without the best part of £11,000 plus a £3,000.00 loan for the next 5 years at £76.00 per month. I think that is a little irresponsible of the bank to lend to someone who's only income was her state pension (single person - £134.00 at the most) - Am I wrong in my thoughts or does anyone esle agree with me?. By the way the overall price of the car was £17,897 of that we used approx £6,000 credit from MBNA cheques which were at 0% interest for 7 months but with a 3% handling charge - never in my wildest dreams did I think I would not be able to pay them back monthly, but things happened and of no fault of our own and credit started being taken away from our cards leaving us with no move ability (from one card to the other).
In short I honestly believe my mother in law is an innocent party in all of this - she only told us about the loan after she had the money and furthermore the bank manager actually knew what the money was going to be used for - in total she will pay back the bank roughly £5,688.00. (one blessing is that he didn't try and sell her Payment Protection - or was it a blessing?)
