Thames Credit Ltd

[nearlyoldwoman]

Thanks to the wealth of info on this site, i've decided to look into my dealing with Thames Credit. Mega mega years ago i had a burton store card and got stuck with repayments (as you do, first store card ever, 18 yrs old etc etc) anyway i hold my hands up to that, and so it was passed from (GE capital) i think to Thames Credit (although i seem to remember hearing nothing for a year or two, must have been when being passed to DCA) anyway, made arrangement with Thames to pay £10 per month thru direct debit, all was ok, paid about 2 years with no probs, then i switched accounts and forgot to re-set up direct debit, Thames wrote or phoned i think to remind me, and i set up a new DD. Now i recalled that i owed approx £350/450 i'd paid 2 years, so i though i'd phone one day (this was about june last year) to see what the outstanding balance was, and it was about £300!! eh? i asked the lady on the phone how come it was so much, when i thought i'd only £100 left to pay, she said charges were added for the missed payments (prob 2 when changing banks) and she said the charges were £112!! i was really shocked and actually laughed at her down the phone, and i told her i'd look into further, anyway being offline, working etc i've only just taken the matter up again. I emailed them to ask what their charges were for missed payments etc and received letter today saying;

Original balance £439.49
Interest Added £129.02
Paid to Date £330.00
Current Balance £238.51

Interest is applied to account in accordance with the terms and conditions of the credit agreement the customer signed in order to obtain credit from GE Capital Bank Ltd in the first place.

Interest has been added, at a rate of 8.000% per annum, when a monthly payment has been missed or was received late. Interest is not currently being added as there is a repayment arrangement in place.

Can anyone offer further info on this. I know people can claim back 8% interest on bank charges so my partner thinks they are entitled to add 8%interest on this. but try as i might i can't figure out the sums? and also i'm pretty sure when i spoke to them on the phone last year the lady said the £100+ charges were just from 2 missed payments. I have also never received anything from them before saying anything about 8% interest. Can anyone enlighten me at all or anyone had dealings with Thames before?

[pmhcfc]

Originally Posted by marciag

Thanks to the wealth of info on this site, i've decided to look into my dealing with Thames Credit.

Can anyone offer further info on this. I know people can claim back 8% interest on bank charges so my partner thinks they are entitled to add 8%interest on this. but try as i might i can't figure out the sums? and also i'm pretty sure when i spoke to them on the phone last year the lady said the £100+ charges were just from 2 missed payments. I have also never received anything from them before saying anything about 8% interest. Can anyone enlighten me at all or anyone had dealings with Thames before?

Hi, and welcome to the site.. The best thing to do is have a very good read around...followed quickly by send Thames Credit a Subject Access Request (Btw..I doubt Thames Credit own the debt at all-) Or alternatively, why not send them a CCA first (Dont forget to include £1 Postal order and send recorded)...I'll lay odds they can't produce the original agreement after 12 days. If this happens. they're in 'default' and you can stop paying them until they come up with original agreement. 1 month after that they'll be comitting a criminal offence....If you read around some threads, it'll all make sense to you...

[nearlyoldwoman]

thanks. i think i'll prob opt for the Subject Access Request, as i've already acknowledged the debt, the main prob i have is how its shot up, i dont really believe its got anything to do with 8% interest, so a Subject Access Request should show me how they've come to that amount etc.

[Dipply75]

Hi Marciag

Ive had dealings with that shower of sneaky so & so's and I can assure you they do not have any paperwork at all from GE Money. Send them a letter saying you are putting the debt in dispute and want proof they own the debt. - ask for a copy of the letter of assignment from GE money to them (not just the one they send to you advising, anyone can type that up) confirming they now own the debt. Also ask for proof of the outstanding amount to GE Money when it was bought i..e an original statement.

They will not be able to provide any of these as this company specialises on sending out letters to people who HAD a debt at some point and scaring money out of them. They do not legally own the debts and will not be able to prove this. If they are applying interest in accordance with your GE money contract then they must have a copy.

Also ask them if they are a member of the Credit Services Association, and if they say they are ask them why they are not keeping legal paperwork in accordance with their guidelines. I would then tell them t chase you all the way to court - they won't as, again, they need paperwork to do that! Good luck, I'm trying to warn folk about Thames as they are at it.

[nearlyoldwoman]

Originally Posted by Dipply75

Hi Marciag

Ive had dealings with that shower of sneaky so & so's and I can assure you they do not have any paperwork at all from GE Money. Send them a letter saying you are putting the debt in dispute and want proof they own the debt. - ask for a copy of the letter of assignment from GE money to them (not just the one they send to you advising, anyone can type that up) confirming they now own the debt. Also ask for proof of the outstanding amount to GE Money when it was bought i..e an original statement.

They will not be able to provide any of these as this company specialises on sending out letters to people who HAD a debt at some point and scaring money out of them. They do not legally own the debts and will not be able to prove this. If they are applying interest in accordance with your GE money contract then they must have a copy.

Also ask them if they are a member of the Credit Services Association, and if they say they are ask them why they are not keeping legal paperwork in accordance with their guidelines. I would then tell them t chase you all the way to court - they won't as, again, they need paperwork to do that! Good luck, I'm trying to warn folk about Thames as they are at it.

Wow, thanks for that info, so a 'letter of assignment' is something they should legally have from GE to prove they are now the owners of this debt? so thats something different from a CCA? you know i've had this for years and years and years and the only way i know whats left to pay is when i've asked for it myself! i'm a bit peed off too cos when i first got this burton card (way back when) i took out burtons 'insurance crap' and i was paying £10.00 per month on the store card and a further £5.00 for the insurance! no flippin wonder it was never paid off eh? can you tell me more about your dealings with Thames?

[Dipply75]

I came across Thames in work at first and have been warned about their tactics before. Complain to the Credit Services Association and the OFT, tell them that you have been paying this company money for a debt that you don't think they even own.

They only seem to have their OWN statements showing balances that anyone could have entered, no paperwork to back the figures up. Check out the CSA website for their codes of practice then quote them to Thames when you call - they have obligations as you will see.

website is - Home Page

Best of luck!

Dipply