Just had a very tatty letter delivered today from the above.

It looks like it has been opened and taped shut a couple of times!

Long story short,

we borrowed some money from a friend on the understanding we would pay it back when we could.

That time is hopefully almost here and we intended to pay it back with interest.

It's about £7.5k.

We received this letter saying they are instructed by their client, our friend, to collect the debt that has "been outstanding for far too long"!

it's pay up now or we will issue a writ, their words,

now I know they can't do this as they are only an accountancy/debt collection company,

but they want a collection fee of over £1.1k!!!

We are to send a cheque payable to our friend to them.

They are saying the letter complies with the Civil Procedure Rules, new to me, but I'm no expert.

We have nothing is writing from our friend,

we intend to pay in full with interest,

but I'm not sure I want to pay any interest after this letter from this outfit.

What do you think would be the best course of action now

ignore the silly DCA.

pay your friend

have you contacted them regularly to let them know it going to be met on XX date

dx

First communication from DCA and nothing directly from our friend. We can't pay him just yet but probably January

have you been in regular contact with him to update the situation?

dx

No it was a case of pay me when you can, I trust you. This has always been our intention and hopefully this will happen towards the end of January

but obviously they are no longer happy with this arrangement hence the fleecers have been involved.

they've no powers as such anyway

and certainly not any to charge fees.

you really need to speak to the person that loaned the money

how long have you had it?

but obviously they are no longer happy with this arrangement hence the fleecers have been involved.

 

 

they've no powers as such anyway

and certainly not any to charge fees.

 

 

you really need to speak to the person that loaned the money

how long have you had it?

It's been about 2 years

pers I would not have kept the friend in the dark for 2yrs if that's what you have done.

go talk to them.

dx

we haven't kept them in the dark

there has been regular emails between us until this letter from the 'fleecers'.

We are going to email our friend and give him an up to date view of the situation

and tell him we are not going to deal with Watson Hope & Co whatsoever and certainly not going to pay them any fees.

I just think the over the top tone of their letter which is very threatening using words like writ and Civil Procedure Rules

are there to intimidate and hopefully we will pay up.

Lets see how we get on.

that's all any DCA can ever do

if you read the letter carefully

you'll se it does not say WILL anything anywhere.

dx

Yes you are right,

then in the post this morning another letter from a different outfit for the same amount of money

but double the amount in interest!

We are emailing our friend to find out what he is playing at.

Obviously we won't be paying them both or even either of them.

This letter is even more threatening saying

"if for any reason the above sum is not received to us by the 31st December, 2014,

we now inform you that a county court summons or bankruptcy proceedings will immediately be issued.

If this happens interest and legal costs will be payable on the debt,

which would substantially increase the amount you will ultimately have to pay, as detailed above".

Of course if they made us bankrupt no one would be paid so it seems a strange thing to threaten us with!

can you scan it up

this sounds laughable!!

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No prob I'll do it now

I've attached file, as a matter of interest I did some digging on this outfit and discovered their Consumer Credit licence expired in January 2012. They are still displaying this info at the bottom of their letterhead!

Just a question, you say you had the loan two years ago but the letter states loan was given in 2010,

making it four, possibly five years, which is correct?

Some was given then but the issue isn't when or how much it's the letter from these bully boys and their exorbitant interest charges and whether we should just ignore them or write to them to tell them we are ignoring them, especially as there are 2 companies now not just the one. It would seem ridiculous to expect us to pay them both, or course we won't be paying either or both of them. It's just advice in how to deal with the issue we have. We are sending an email today to our friend to explain our situation and try and get him to put the attack dogs back in their boxes.

Some was given then but the issue isn't when or how much it's the letter from these bully boys and their exorbitant interest charges and whether we should just ignore them or write to them to tell them we are ignoring them, especially as there are 2 companies now not just the one. It would seem ridiculous to expect us to pay them both, or course we won't be paying either or both of them. It's just advice in how to deal with the issue we have. We are sending an email today to our friend to explain our situation and try and get him to put the attack dogs back in their boxes.

Sorry to sound a bit harsh but what is this obsession with emails, it seems to me that your friend who was good enough to lend you a large amount of money deserves a phone call at the very least and a sincere explanation and apology rather than hiding behind a keyboard and treating him like an idiot.

Sorry to sound a bit harsh but what is this obsession with emails, it seems to me that your friend who was good enough to lend you a large amount of money deserves a phone call at the very least and a sincere explanation and apology rather than hiding behind a keyboard and treating him like an idiot.

You do sound harsh and I'm sure you aren't sorry about that and we are certainly not treating our friend as an idiot as you are suggesting. We constantly read on CAG to put everything in writing that's why we sent an email. We are NOT trying to not pay but as this thread isn't going anywhere I'll just leave it here

Where is the pic?

We have sorted these bottom feeders and they have been binned! So This thread is closed. Thanks dx100uk for your contributions it helped me think I'm not going mad with these people. We have sorted out our problem and we move ever onward!

I suspect that your friend didnt realise that the DCA's add an unspecified charge for themselves whilst advertising their services for next to nothing to the creditors. That is how they get the business and generally the people who use them have no connection to the person who owes the money so doesnt care.

Just go direct and you will find that things are more amenable if the friend can see light at the end of the tunnel. Your postings have made any repayment plan look vague at best, tidy it all up with them.