Thanks Harassed Senior. I had a suspician that clearing my debt would not guarantee passing the Credit Reference Checks. Is there anyone who can provide me with a clearer idea or strategy on what I should do. I dont want to spend all my emergency savings on paying off my debt just to find out that I cannot rise in the Banking/Finance sector? Thanks in advance.

Thanks TheShadow. So if I were to pay off the debt as most debt recovery agencies are offering 40% off as a final settlement I would still have defaults but would employers consider this to be acceptable. I.e I have defaults on my account but they have been settled albeit by paying a reduced amount?

Hello Everyone. It is a long time since I have posted here and this hite really helped me get my finances under control. I was made redundent about a year and a half ago and now work for the minimum wage at Wilkinson, previously worked as a investment banker. I have now recently started going to interviews for vacancies in the banking sector and have been successful and have on occasion been given the job, however I always seem to get declined after the check my Credit Report. My Credit Report My credit repost is not great, I have the following I have 9 defaults and am on a Debt Management Plan with the Consumer Credit Counselling Services. I have now got some money saved and I can pay off half my 50k debt, mostly with the debt recovery agencies. When I spoke to my interviewer at Santander he said "You have defaults on your account, however you have some bad credit still in your name" - What did he mean by this? My Questions. 1. Will paying off my Debt improve my credit scoring even if I settle with a part payment which will be marked on my account. 1.1 Will paying off these creditors improve my chances of getting a job or will a default with no debt (all debt paid - but default still with credit reference agencies ) at all still get me declined for jobs in the banking sector? 2. Is there any way to remove the defaults from my account? 3. What jobs can I apply for in the Finance sector that does not require a credit check. Please Please! Any input would be appreciated. Thanks

Thank you so much for your responses. I am concerned that I may have to sell my other 2 houses which I rent out. Is there any possibility of this? I know that my home is safe, it is the other two properties I am concerned about. Thanks

Dear Caggers, I need your help once more. Currently I am on low income and was previously on a very high income, however due to the economic downturn I was made reduntant. I have a mortgage on my own home and two others that I rent out where the mortgage is barely covered by the rent. Eversheds now claim that they can force me to sell my house and have emailed me the following. Please can you inform me if this is right and what can I do? Dear Mr Ali I apologise for the delay. There should be a recording of the conversation but unfortunately some technical difficulties mean that I may not have access to it for several days. Meanwhile I have received an explanation from Danielle and her manager . I accept there was a misunderstanding during the course of the conversation but it does appear we were trying to explain the position to you. The amount of the monthly payment which we discussed with you was in accordance with our clients instructions. We have no authority to accept the £27 per month which you are offering. In the absence of agreement we have instructions to proceed to judgement and seek a charging order. The effect of a charging order ( if we obtained one) would be that our clients could ask the court for an order allowing it to take possession of and sell the property. Whilst CCCS can advise you on proposals our client have no obligation to accept them. I think it was appropriate for us to explain this to you . I am sorry if you felt our explanation was not clear. I will of course review the position again as soon as I am able to have access to the recording. Yours sincerely Christopher Belcher Deputy Compliance Director Eversheds LLP

Thanks Nick, Much apreciated.

I just read this article on Moneysavingexpert.com about how a judge ruled that a Credit Agreement was enforceable. Debt write-off loophole closed by court - MoneySavingExpert News Does this mean that any chance I had of having my debt written off because my creditors did not have in their possession a valid credit agreement is gone? Please can someone clarify this. As usual I would appreciate any response.

If the subject access request does not produce a CCA then surely I can take this as them not having a copy of the CCA as they need to provide all the documents they hold on me which includes a CCA. How can I get them to confirm that they do not hold a CCA for me?

Citi card have responded and have stated that they need more time to find the CCA. In such circumstances can I stop the payments since I have sent them a CCA 12+2 and Failure to Comply and Account in dispute letter? Thanks In advance

I have sent CCA request and they did not send me a valid CCA (please read the entire thread). I then requested a SAR and they still have not provided me with a CCA. Do I need to do anything else before I stop the Payments? Thanks in advance.

Hello All, I have just recieved the contents of my Subject Access Request, it contains only statement and nothing else. There is nothing that even remotely looks or can be identified as a Credit Card agreement and nothing is signed. I guess I should stop making payments or should I write a letter before I stop to make it appear professional. Thanks in advance to the senior and junior members of one of the best sites for debt management that I know!!!! SMTL

Any other ideas apart from Bankruptcy?

Hello members of the Consumer Action Group. I would like to start by thanking the members for providing this great service which I appreciate immensly. I need some advice on my current financial circumstances, I am in trouble and am looking for a way forward and would again appreciate any suggestions. Here is a list of all my Debts to date. Home Mortgage £134,000.00 Abbey 2nd Mortgage £242,993.67 Birmingham Midshire 3rd Mortgage £200,000.00 Mortgage Express Formerly with GMAC NatWest Loan £12,992.00 NatWest CC £2195.97 Mint CC £3448.38 Barclaycard CC £3084.63 Marbles CC £3706.72 Virgin CC £547.95 Citi CC £3200.44 Egg Card £9514.27 NatWest O/D £7265.29 Total £622,948.35 I have been made redundant from my last job which has exarcerbated my financial position adversely. I am currently contesting all my credit cards and requesting CCA under Secion 77-78 of the Consumer Credit Act 1974. I need the following answers to be questioned. 1. I am currently constructing my financial statement, do I need to include my other two properties which I have rented out, where the mortgage is equivalent to the rent so I am not recieving anything from the investments. 2. The value of my properties have fallen so they are now in negative equity, can the credit card companies force me to sell my properties at a loss, I understand that these are unsecured debt so they cannot force me to sell. Am I right? 3. How can I make an reduced payment agreement for my overdraft? 4. I am currently paying £630.00 on my Abbey Mortgage where I live. This is a fixed rate mortgage. I can switch to the variable and only pay £366.00 but there is a penalty of £4000.00. My question is shall I switch now as my credit score is going to become very bad in the furure thus affecting my the rate which I can secure? Or do Abbey not perform a credit check on existing customers? This is a lot of questions but I am very desperate and would appreciate your assistance. As usual thanks in advance.

Thanks Vints1954

Sorry to be a novice but you got to start somewhere. Where can i locate a failure to comply letter? Thanks DX