Barclaycard
Join the
Action
Barclaycard
will now
give you a
premier
line for
the
Internet
and then
charge the
calls to
your
Barclaycard
- As we
advised
you
before:
unless you
pay your
Barclaycard
off every
month,
those 1p
calls will
soon get
expensive
Change
Phone
Company
Keep Your
Number -
Hewitt
People and
businesses
will have
the right
to keep
their
telephone
numbers
when they
change
telephone
companies,
Patricia
Hewitt,
the
Minister
for Small
Firms and
e-commerce
announced
on the 22
October.
Under the
proposals
in a joint
DTI/OFTEL
consultation
paper,
from 1
January
2000: Any
telephone
company
providing
fixed
telecoms
services
to the
public
that
decides to
take on a
new
customer
who wants
to keep
their
existing
telephone
number
must be
able to
make the
service
available
using the
customer's
existing
number;
and, All
telephone
companies
providing
fixed
telecoms
services
to the
public
must be
able to
pass a
customer's
existing
number to
a new
operator
or service
provider
at the
customer's
request.
Launching
the
consultation,
Patricia
Hewitt
said:
"This is
excellent
news for
businesses
or people
at home
who wish
to change
their
telephone
line
supplier
but want
to keep
their
existing
telephone
number.
Not
everyone
is able to
do this
now. But
from the
year 2000
everyone
will have
this
right.
Source
Creditman
INTERNET
Map Your
Business
Another
good
resource
for any
web site.
Multi Map
has a
street by
street
image of
the UK.
The idea
is to go
to the web
site, find
your
business
address
etc, and
then link
to the
Multi Map
site.
Simple,
free and
useful.
Multi Map
INVESTING
A Fool and
His Money
A web site
called
Fool
gives you
all the
answers to
investing
and
finance in
a language
we can all
understand
(hence
'fool').
You can
personalize
the info
you want
to hear
about: and
who knows
maybe one
day we
will all
understand
how to
make a lot
of money.
Worth a
look.
SMALL
BUSINESS
Companies
House
Forms on
the Web
Companies
filing
information
at
Companies
House can
now use
forms
taken from
its web
site,
Companies
House.
The 11
forms most
commonly
used,
which
account
for
approximately
half of
the forms
Companies
House
receives
each year,
may now be
printed
directly
from the
web site.
"We know
from
feedback,"
said Mark
Pacey,
Head of
Marketing,
"that
these
forms are
at the top
of our
customers'
wish list
for new
items on
our web
site. I'm
sure
they'll be
a popular
addition
and we
will look
to add
more forms
in the
future."
The forms
are
provided
in PDF
format,
using
Adobe
Acrobat
Version 4
reader
software.
Current
legislation
requires
live
signatures
on forms
submitted
to
Companies
House, so
the forms
are not
available
for
electronic
filing.
Forms
available
on the web
are:
10 First
director
and
secretary
and
intended
situation
of
registered
office
10cs
Continuation
sheet for
form 10.
12
Declaration
on
application
for
registration.
225 Change
of
accounting
reference
date.
287 Change
in
situation
or address
of
registered
office.
288A
Appointment
of
director/secretary.
288B
Resignation
of
director/secretary.
288C
Change of
particulars
for
director
or
secretary.
395
Particulars
of a
mortgage
or charge.
395cs
Continuation
sheet for
form 395.
410
Particulars
of a
Scottish
mortgage
or charge.
Source
Creditman
FINANCE
Self
Employed
Mortgage
A company
called
Mortgage
Intelligence
"the UK's
largest
group of
mortgage
brokers"
are
confident
that the
self
employed
who have
"no
accounts"
and "only
10%
deposit"
can own a
home.
Worth a
look.
TOPIC
Credit
Repair
Fact or
Myth?
There is
much
debate
about
credit
repair
companies.
Can they
remove
CCJ’s?
Can they
get the
money owed
on a CCJ
reduced?
Lets start
at the
beginning.
1. You do
not pay a
bill, a
loan, an
invoice
etc
2. You
receive a
formal
demand for
payment
from the
creditor *
3. You
ignore the
demand
4. The
creditor
sends you
a ‘Claim
Form’
(previously
a Summons)
demanding
payment
within
14
days or
your
defence in
writing
(following
court
rules)
5. You
ignore the
Claim Form
6. The
creditor
asks the
court to
enter a
Default
Judgment
(the CCJ)
**
7. The
court send
you the
CCJ giving
you 28
days to
pay ***
8. You
ignore the
CCJ
9. When
the 28
days
expire,
the CCJ
will be on
your
record for
6 years
****
Notes:
* The
demand
must say
who you
are,
delivered
to where
you live
(or work),
who the
creditor
is, their
address,
how to
contact
them, what
is owed,
what it is
owed for,
when you
must pay
the amount
by and
what will
happen if
you do not
pay i.e.
“if you do
not pay
£100 by
12/11/99
we will
take legal
action”.
** When
the
Defendant
(debtor)
does not
reply to
the Claim
Form
(previously
Summons)
the court
enters a
‘Default
Judgment’.
The term
Default
means you
defaulted
on your
opportunity
to respond
to the
creditors
claim.
*** If you
pay within
the 28
days the
CCJ is not
recorded
if you
contact
the court
**** On
the sixth
anniversary
of the
date of
the
Judgment
the CCJ
will
automatically
erase from
your
credit
record.
Now back
to the
credit
repair.
The
fundamental
issue with
all credit
repair
opportunities
is did you
receive
the Claim
Form
(previously
Summons).
If you
did, you
cannot
remove the
Judgment.
However,
this is
not the
end of the
matter
with most
(but not
all)
credit
repair
companies.
If you are
prepared
to state
that you
did not
receive
the Claim
Form
(previously
Summons),
and you
have a
reasonable
reason why
you
did/could
not
receive
it, you
have the
grounding
for a
successful
credit
repair.
You will
complete a
few forms
with the
credit
repair
company
and make
an
application
to set
aside the
‘Default
Judgment’.
You cannot
set aside
a CCJ that
you knew
about, did
not pay,
but can
pay now.
However,
credit
repair
companies
may
correspond
with a
company
that
secured a
CCJ
against
you, say,
3 years
ago, for
£7,000 and
offer
them, say,
£4,000 if
they not
object to
a credit
repair and
application
to set
aside the
Judgment
Default of
their CCJ.
If you
have paid
off a CCJ
that is 3
years old
the credit
repair
company
cannot use
the
leverage
of paying
the
creditor
some money
not to
object to
the credit
repair:
the credit
repair
company
relies on
the
creditor
not being
bothered
to object.
Credit
repair
companies
are most
effective
if you
have not
paid any
money
towards
the CCJ.
If you
settle a
debt after
the first
28 days,
the CCJ
will not
be taken
off the
register.
The file
can be
marked as
‘satisfied’,
if you
apply to
the court.
A further
problem
can exist
on your
credit
record
that is as
destructive
as a CCJ:
a
‘Default’.
If you
miss two
to three
payments
of an
agreement
(Hire
Purchase,
Lease) the
creditor
can send
you a
formal
default
letter. A
CCJ and a
Default
are both
regarded
as serious
information
by lenders
etc. You
cannot pay
or satisfy
a Default:
it is just
there! An
inexperienced
clerk at a
finance
company
can send a
Default to
you
without
any
supervision
or serious
default.
My
Personal
Summary:
The credit
repair
companies
are under
immense
pressure
from
government,
credit
counsellors,
finance
companies
and
institutions:
and of
course the
main
credit
reference
companies
who rely
on poor
credit
ratings to
earn
profits –
at times
it is
difficult
to see who
the
‘goodies’
are!
Should
someone
who went
through a
very
difficult
time in
the past
have the
opportunity
to correct
his or her
standing
in life
before a
6-year
term? I
know of
many such
cases
where debt
had very
little to
do with
recklessness,
and more
to do with
such
things as
poor
health,
redundancies
etc.
Banks and
finance
companies
use
computers
to sort
the good
from the
bad. With
CCJ’s
lasting 6
years (and
the
computer
treating a
1-month
debt the
same as a
5 year 11
month
debt) the
punishment
is out of
proportion
to the
‘crime’.
The choice
is a
personal
one: to
use or not
to use.
Our peers
(governments,
Lords etc)
have been
making
laws to
abide by,
and ethics
to follow
that they
at times
do not
abide by
themselves
– do you
think our
peers
would use
credit
repair?
How to
Check Your
Credit
File
Firstly,
if you
have never
checked
your
credit
files do
it now!
There are
two
companies
that
supply 99%
of all
credit
reference
requests.
Experian
Consumer
Help
Service
PO Box
8000
Nottingham
N61 5GX
Equifax
(Dept 16)
PO Box
3001
Glasgow
G81 2DT
Write to
both
companies
with all
of your
addresses
in the
past 6
years
(provide
postcodes,
go to
Roya Mail
if you
need
them). If
there are
two of
you,
married or
not, you
will need
two
separate
applications.
Send each
application
with a
£2.00
cheque,
payable to
the name
of that
company.
The
information
will be
sent to
you in
about 14
days. A
useful
booklet
that
explains
what to
look for
and what
to do if
you see
any
problems
will
accompany
the
information
you
receive.
Some
credit
repair
companies
charge an
outrageous
amount of
money to
get to
this
stage.
Whether
you use a
credit
repair, or
not, you
should get
your own
file from
the credit
reference
companies
and
scrutinize
the
information.
The two
things you
are
looking
for are:
1. County
Court
Judgment
Judgment,
CCJ or
however it
is
described
The
information
will
provide
the date
of the CCJ,
case no.,
court
name,
value,
defendant,
and
whether
satisfied.
2. Default
Date and
amount of
default.
A Default
is a
formal
demand for
payment of
some form
of
Agreement,
say, a
Hire
Purchase
Agreement
that you
have
missed
three
payments
of. A
Default
must
contain a
number of
regulatory
requirements.
That it is
served
under the
Consumer
Credit
Act, the
demand
must say
who you
are,
delivered
to where
you live
(or work),
who the
creditor
is, their
address,
how to
contact
them, what
is owed,
what it is
owed for,
when you
must pay
the amount
by and
what will
happen if
you do not
pay i.e.
“if you do
not pay
£100 by
12/11/99
we will
take legal
action”,
and
finally
that you
should
seek
advice… A
CCJ and a
Default
are both
regarded
as serious
information
by lenders
etc. You
cannot pay
or satisfy
a Default:
it is just
there!
(Very,
very
unfair).
An
inexperienced
clerk at a
finance
company
can send a
Default to
you
without
any
supervision
or serious
default.
