June 30th 2008

Hi world

I have carried out lots of research on this and I have decided to send off four of my credit cards to see what happens. I picked a company which DOES NOT charge me 30% and £250 when my balances are written off.

I can't believe that some companies take this much! Do your research and ask questions people! Where I am going to find that sort of money! I filled in the forms and sent off my £495 for the first credit card and then £295 for the other credit cards. My balances are HUGE so this is a small sum to pay. I telephoned them to see what happens next...................

1st July 2008

I telephoned the company and they told me that they would now ask the credit card provider for my credit card file. This can take up to 40 days as they have 40 calender days to reply. Some lenders apparently use 'dirty tricks' to try to delay the matter. They say they need more than £10 pounds to send your credit file which is rubbish! They say that they have 40 working days when they have calender days and they lose you information of course. Anything to get out of it it appears.

There are four things I can claim for should my contract be deemed illegal:-
1. The balance written off
2. The the interest you have paid returned
3. All charges returned
4. All repayments you have ever made returned...blooming heck!!!!

I can only imagine how much I have paid over the past 28 years. Imagine if I got even a small amount back.
www.creditcardswrittenoff.com

I rang the company to find out how long this will take. They told me it might be three to nine months depending on the lender.

I received two forms to fill in today 1st July 2008. One was authority to send my credit file to the company and the other authority to act on my behalf. It said on the form that I needed to send in one pound but when I asked the company they said I didn't need to!

Let's see what happens next!

www.creditcardswrittenoff.com

How to be Debt Free in 6 Easy Steps!

A debt free is life not unattainable. It may seem an impossible and frightening task but it is possible.
It requires patience and discipline determination and
time. Given below is a run down of 6
steps that will help you in the journey towards a
life that is free of financial stress.

Step 1 - Admit that you are facing problems in
managing your finances.The first step towards debt
free life is to come to terms with the fact that your
debts have become unmanageable. Leaving bills unpaid
and ignoring the problem does nothing to wipe off your
existing debts. It only makes the situation worse.
However the fact that you're reading this article means
you have accepted that you are in debt and you are ready
to take the next step.

Step 2 - Take an honest look at your present financial
situation. Make a list of your debts. Next to the listed
debts include the name of the creditor,the total amount
you owe, the rate of interest you are being charged and
the monthly payment you make towards this debt, if any.
It will not only give you a clear picture of your
financial standing but will also help you in choosing
an appropriate debt solution.

Step 3 - Prioritize!
Decide which bills to pay first and which ones can wait.
Concentrate on paying off the debts that have a higher
interest rate. You will save more money in the long run
by ridding yourself of these expensive loans first while
keeping up the required repayments on the others.When
making the repayment remember to pay a little more than
the minimum as minimum debt repayments only covers the
added interest. It makes no impact on the capital amount.

Step 4 - Create a realistic monthly budget for your
outgoings. List all the essential expenses and
non essential expenditures.
The non essential expenditures can be completely
cut or lowered substantially until you become
debt-free. Evaluate your monthly balance by
subtracting monthly expenses from your monthly income.
This will tell you how much money you have at the
end of the month so that you can start paying off
your debts. Do not forget to keep some money aside
for unexpected expenses. As your debt goes down,
you will see a fall in your interest charges.

Step 5 - Refuse to take on any kind of new debt.
As you already in are in debt, adding
on a new debt will increase your debt and
will hinder your progress towards being debt free.
You must decide once and for all that you will
not add any new debt and stick to it!

Step 6 -
If you are not able to manage your debts on
your own then you can opt for professional credit
counseling. You will be guided by financial experts
who will help you in taking a step nearer to a
debt free life. There are options you can take such
as taking out and IVA or even opting for Bancrupcy.
Recently there are companies who offer to write off
your credit cards legally. This relatively new
and simple process is explained at
www.CreditCardsWrittenOff.com

11 year olds being given Visa cards

The staff of Lloyds TSB have apparently been mailing debit cards direct to children as young as 11 without telling their parents.
One 15 year old bought cigarettes, alcohol, Viagra and porn videos over the internet.

In the past, any child aged 11 to 15 who held a current account was limited to debit cards that could be used only in cash machines or at bank branches.

The new cards could let them spend large sums on the web, potentially emptying their accounts, and all without their parents' knowledge. (The new cards are Visa-enabled, meaning they can be used anywhere that displays a Visa sign. The bank takes a fee from the retailer every time a card is used.

Lloyds TSB said it is the parents responsibility to keep a check on how their children use the cards and says there are safeguards to ensure they cannot be used on adult websites. How do they know this I ask? But the 15-year-old had no problem buying goods supposedly restricted to adults!

What next? I would love to hear the excuses for this!