Equity debt...help please

[rosemaryednam]

Hi I have just had a reply from equity debt - re old co-op loan after asking for copy of agreement. The reply says that they are contacting the co-op for this information and will be in touch. I have never had any statement to where I have been paying my direct debit to so do not really know where the money has gone anyway. Is there anyone who can advise on what to do next? Thanks
Jackie

[MARTIN3030]

Welcome to the site.
Who have you paid money to ?
Did you acknowledge it/set up a repayment plan ?
How old is the debt?
I will move your post to the debt forums.
Please give as much background info as you can ..dates etc.

[rosemaryednam]

Hi Rory32 have you any advice about the following?The debt is about 9 years old. I set up a payment plan but last year I realised that I was paying 2 payments to the same account number so I stopped 1 of them. 1 was equity and the other 1 was phoenix. don't really know where money has gone because been paying direct debit. I have never had any confirmation or statements say what I owe only letters every year with x amount on saying that I should increase my payment and if I don't court action will follow. The last one I recieved I sent a reply saying that I knew my rights and had kept to the payment plan so if they wanted to take it further then go ahead.

[rory32]

I have never had any statement to where I have been paying my direct debit to so do not really know where the money has gone anyway.

Hi Jackie, your bank will be able to tell you who the direct debit goes to.

I have never had any confirmation or statements say what I owe

This obviously can't go on - you need to know the state of the account. You can do one of two things to find this out, either send the Co-op a Subject Access Request which usually costs £10 or write to equity and ask them for a statement of account (this is free do not allow them to charge you for it).

How long ago is it since you sent the CCA request?

[rosemaryednam]

Hi it is coming up to 14 days since i sent the cca.

[rory32]

Once the 14 working days are up and they haven't supplied an agreement withhold all payment to them as they are in default.

[ConsumersRevenge]

Rory - i understood they had 6 months to prove an individual was in debt to them, else they could not recover the money without applying to a court to have the debt reinstated. if i am mistaken, i need to make some serious apologies.

[rory32]

Rory - i understood they had 6 months to prove an individual was in debt to them, else they could not recover the money without applying to a court to have the debt reinstated. if i am mistaken, i need to make some serious apologies.

Where are you getting this information from?

[ConsumersRevenge]

Many years ago, i worked for equidebt. i recall then they were concerned that some of thier business was unenforcable because 6 months had passed. if a creditor can't prove the debt (ie present a signed agreement) they have no rights to the money. if the agreement turns up after this, they have to aply to courts to get the debt reinstated, which of course they would not want to do, because it would raise questions of thier internal policy and proceedure structures as to why the paperwork went missing. like i said though, if i am wrong please correct me

[rosemaryednam]

Hi everyone please could I have some advice? Today I recieved a reply from equity debt enclosing what they think is the credit agreement from the co-op. The co-op have sent them a copy of the joint account that we opened in 1999 not the agreement for the loan. Obviously equity debt do not know what they are collecting off us. I am thinking of writing back again and again asking for a statement of what has actually been paid would this be a good idea? Or, should I just let them stew and remain in default because they have not been able to come up with the correct paper work?

[rory32]

I am thinking of writing back again and again asking for a statement of what has actually been paid would this be a good idea?

Did you ask equidebt for a statement of account? A statement of account should show up what has been paid.

[rosemaryednam]

Hi yes I have sent Subject Access Request request but I have been sent a copy of the application to make my husband a debit card holder for the account as well as me.

[rory32]

How long has it been since they received the Subject Access Request? They have 40 days to comply.

[rosemaryednam]

It is longer than 40 days cos I had a reply from them saying that they were contacting the co-op about it on the 5th June and it is now 8th August

[rosemaryednam]

The only time I have an inclin of how much I owe is when I get a letter saying that an update of my personal circumstances is needed because I need to increase my monthly payment. Also the copy of the so called agreement is a copy of the paperwork to show that my husband applied for a visa debit card. All the letters that I recieve are to me alone not him. The loan was a joint loan so how do they work that one out?

[rosemaryednam]

Originally Posted by rory32

How long has it been since they received the S.A.R - (Subject Access Request)? They have 40 days to comply.

Hi Rory, Today I recieved a standard letter from Equity Debt telling me get in touch within the next 72 hours. They did send me a reply to the request for a copy of the CCA but it was a copy of the application for my husband to have a bank card on my account not a copy of a loan agreement. Please any advice would be appreciated on what to do next. I am thinking of writing and telling them the copy that they sent me was a copy of the application etc etc but I am not sure.