Hi

I have been on this debt journey for a while now.

I got sucked into the cycle of payday loans,

all of which I paid off until it got too much and I defaulted with QQ at just under £1000

This was then sold to RedCastle.

I emailed Redcastle in October Asking them to provide information on the debt as

there were two separate entries for the same amount with different default dates on my credit file.

One from Redcastle and the original one with QQ.

I Sent a copy of my request to QQ and they removed their entry.

I have now received this letter from Redcastle Recoveries.

We are writing to you in relation to your above numbered loan that you originally took out with CashEuroNet.uk-QuickQuid,

and which was subsequently acquired by us.

Please note that we have now taken the decision to write off the balance and close your account.

What this means for you:

• The balance on your loan is no longer due
  
• l We will no longer contact you regarding the above numbered account
  
• l You do not need to repay the balance of the above numbered account
  

However, please note that because you have not repaid the balance due in relation to this account,

if your credit file shows a balance is outstanding it will continue to do so

for a period of time no greater than six years from the date that you originally defaulted

on your agreement with CashEuroNet.uk-QuickQuid.

You should also be aware that this may affect your ability to gain credit with other lenders,

and that should you choose to repay this balance at a later date your credit file will be updated to reflect this.

If you would like to speak to one of our agents regarding this matter then please contact them via 0344 894 1930 or alternatively via email on .

Now I have contacted QQ and complained about the affordability of my loan and I am waiting on their decision,

I had hoped that either they would effect the writing off of my loan or they would pay me the interest on all of my loans

and I could clear it as it is the last remaining unpaid debt on my credit file.

I called quick quid and they said they have not made a decision on my complaint

and they did not contact Redcastle. So I am wondering why would they do this?

Should I just be happy they will not pursue.

But the whole point is to repair my credit so at some point in the future I can try to buy a house.

Any ideas as to what I should do?

Thanks

Tia

p'haps have to await the irresponsible lending enq from QQ

did you fwd a copy of the QQ letter stating CRA file removal to reds?

dx

Hi dx100uk

This is what I am thinking, but I am concerned that since QQ removed their default and RedCastle put theirs up, they might not honour QQ's ruling if it is in my favour.

If I receive my interest back and pay RedCastle, how can i ensure they will remove the entry?

Also as QQ no longer own the debt, what will happen if QQ agrees to irresponsible lending? will the interest be taken off the loan even though it is no longer with them?

the loan will not exist..they must remove it.

pers I'd be giving the FOS a quick call

if you read here, they act rather quickly with regard to QQ stuff.

what RC are doing is WRONG.

dx

Thanks, I thought something seemed rather fishy about this situation.

Apparently I have to wait until 8 weeks after my complaint to contact the FOS about QQ, but I most certainly will contact them about this letter.

I have never heard of a DCA telling someone not to pay but the debt still exists? How is that possible?

you don't have to wait to get advise from the FOS or even the FCA.

you don't have to wait to get advise from the FOS or even the FCA.

Contacted FOS who said to wait until I receive a response from QQ Due 13/01/16.

Called FCA who said there is no rule prohibiting DCA'S from writing off the debt and leaving it on my credit file.

I have called Red Castle twice requesting an explanation as to why they wrote off the Loan. No response.

I am applying for a position in the bank, they will credit search me and this is the only unpaid default and the only one since 2012.

The deadline for the application is 4th Jan 2016. I am thinking, should i offer to pay like £200 for the complete removal from my credit file? I figure since they are willing to just write it off they might remove it for financial gain?

What do you think?

ideally you should be using the phone to a dca without recording the call.

it has been known for DCA's to remove an account if you offer to pay it off.

however you need to be extremely careful

and get the exact wording from them in an email

should they agree.

i'e that ALL NEGATIVE DATA AND the whole account will be removed from the cra system [all 3 of the providers]

and that they will never sell or chase the debt again.

I FIRST SENT THIS TO REDCASTLE BACK IN July.

Dear Sir/Madam

template removed - dx

A few days later they said

Dear ,

Thank you for your email the contents of which have been duly noted.

We have raised a query on your behalf with our client, QuickQuid,

in order to obtain the documentation you have requested.

Your account has been placed on hold and once we have a response

we will be in contact to discuss this further with you.

Should you wish to discuss this further, please do not hesitate to contact us by e-mail,

or by telephone on: 0344 894 1952.

Kind Regards

and then nothing until this letter.

And now i am thinking of sending this:

Good Afternoon

Thank you for your communication by text message, I downloaded the letter, a copy of which is attached.

My understanding of this letter is that you do not require me to pay you back but the debt is still owed?

Since my initiating contact with you was all about repairing damage to my credit file, I need to see what can be done to remove this altogether.

I am currently in communication with the financial Ombudsman Service and Quick Quid as I had numerous loans with them that were unaffordable. I am awaiting confirmation from QQ as to their position and then if i am unsatisfied will return to the ombudsman with my complaint.

whilst I appreciate the loan being written off my primary concern is my credit file. I am looking for work in the Financial Service Idustry and this is causing a problem.

If (and i believe they will) QQ / Ombudsman deem the loans unaffordable all records would be removed from my credit file.

How would this happen if the current entry is from you, but relating to that debt?

Could I offer a payment of 20% to close the account and get immediate removal?

what do you think and thanks for your help.

load of garbage..sorry.

its irresponsible lending.

ok, so I should not send it. I will wait for QQ response.

i'll see if can write something later.