Hi folks

Just want to make sure i am right before i send off statute barred letter to Monument.

I had a Monument Credit Card in 2003.

in December 2004 i got into financial difficulty and ended up going through debt management.

After i realised how little was going to my creditors i got rid of the debt management company and dealt with most of my debts myself.

Monument was a relatively small debt at that time of around £1100 so i left it and didnt pay anything.

Last payment through debt management was in May 2006.

I have received a monthly statement from Monument, they have a minimum payment of £2.36 a month

( which hasnt been paid) and ppi being added continuously.

Debt now stands at around £2000.

As i am in Scotland and its the 5 year statute barred rule that would apply

should i just send them the statute barred letter now so they can save some trees by not sending me statements?

Also, i know its greedy coz i havent paid them but where would i stand with a ppi claim and charges?

Not too bothered about claiming but if its there to be had so to speak.

Thanks

Delilah

Anyone?

Does the fact that they have been sending me monthly statements have any effect on Statute Barred?

Any advise would be appreciated.

Delilah

Hi Delilah and sorry you went unanswered for so long.

Two things matter in deciding if a debt is Statute Barred :-

1. When you last paid anything towards the debt. Each payment resets the SB time clock.

2. When you last acknowledged the debt in writing - eg promising to pay something when you next got paid, saying you'll resume payments when things get better for you, etc.

If you've done neither of these, a debt becomes Statute Barred after 5 years in Scotland and 6 years in England and Wales.

Whether they sent you anything (demands, statements, etc) is immaterial.

You could reclaim the PPI on the a/c but the refund would most likely be used to reduce the debt. Any balance left over would be repaid to you.

Hi Slick,

Thank you for your reply.

I just wanted to check and make sure before i sent them the Statute Barred letter.

It is definately statute barred, its now over 6 years since the last payment was made and ive not had any personal contact with them since 2005.

I think i will send the statute barred letter next week and see what i get back from them before i decide on the ppi.

Most of the outstanding balance in 2004 was made up of late payment charges and the ppi would be worth more than the balance

so i am tempted to go for it

but i dont want to push my luck.

Im in the middle of a barclaycard ppi and they arent playing nicely with the FOS,

im now at over18 weeks waiting on their figures and they have made excuse after excuse to the FOS manager thats dealing with it

and its put me off claiming on other claims i might have as well as driving me nuts.

Thanks again

Delilah

the monument payment break plan is ppi.

the debt is SB'ed.

reclaim the PBP and the money is yours

the debt is extinguished after 5yrs in scotland

they cant take the money

its yours

dx

If there are penalty charges on the a/c and you have statements showing them, you can reclaim the penalty charges too, plus compound contractual interest.

Read more about this in the Barclays Successes forum. Look for threads showing **WON with compound interest** - http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?97-Barclays-BCard-and-Woolwich-successes

If the debt is Statute Barred (which you confirm it is), you should be able to get the penalty charges plus interest refunded to you direct but you will have to take court action to get it. But this really depends on whether you still have the a/c statements. BC are not likely to supply any that are over 6 years old unless you ALSO take court action to force disclosure of a/c data.

Re the PPI refund, if this is being d/w by the FOS, they will probably agree with BC that they'll refund the PPI and related interest to clear the debt before repaying anything direct to you. That seems to be the FOS's policy. This may alter is they debt was sold to a DCA.

Thank you dx,

you have made an old woman very happy this morning.

Should i send the Statute Barred letter to Monument 1st

and then claim the ppi and charges back from them?

Thanks Slick for your reply.

I have a post on my Barclaycard ppi fight (i shouldnt have mentioned the Barclaycard one on here it might confuse the Monument issue),

Barclaycard sold the account to Cabot and Cabot took me to court last year and the case was dismissed at the beginning of this year.

When i claimed back the charges on the Barclaycard account they paid it direct to Cabot despite my protests

but due to Cabots court action they supplied me with all account info.

I know i have the risk of the ppi being paid to Cabot on that account and im prepared to fight them all the way if necessary.

It was just the waiting that put me off trying the same with Monument but after dx's reply and yours i will go for it.

Delilah

Need someone to confirm this for me.

Last payment made by me to Monument was in 2006,

however they had me on a payment break plan which finished in January 2015.

I am in Scotland this debt has now been passed to Capquest.

Does the payment break plan mean that the debt is not statute barred

or because I have not personally made any payments to it that it is statute barred??

Cheers folks

SB'd

refund of PBP or PENALTY charges to the old account does not reset the SB date.

dx

Thanks dx just wanted to make sure. I never got round to dealing with them but looks like I have to get my finger out and do it now

Received a letter from Monument today (Final Response) stating the adjustment to the account is £2607.05.

Next line states: They will apply the adjustment value to any outstanding debt on the account. Should there be a surplus they will send me out a cheque within 28 days.

Can they do that on a statute barred debt?? I thought if it was Statute Barred (Scotland) the debt doesn't exist after 5 years so how can they apply a refund to a debt that doesn't exist?? Will I have to contact the Financial Ombudsman??

IMHO you are correct

You need to point out to monument that the agreement was taken out in Scotland and you are still resident in Scotland

So under Scottish law the debt is extinguished and does not exist

I suspect they have sent you a STD letter and do not realise this

You of course also need to point out that they sold the debt on and all their rights to so they cannot exercise their right offset

And that they can't buy back a debt that legally does no even exist anymore in Scottish law

Dx

Thank you dx100uk. I will email them tomorrow

I have just sent them the following by email

I received a letter from you today regarding the claim.

Just emailing to remind you that this agreement was taken out in Scotland and I still reside in Scotland.

The debt is Statute Barred and under Scottish Law is extinguished and does not exist.

If you sold the debt and all your rights to Capquest you cannot exercise your right to offset.

You can't buy back a debt that legally does no even exist anymore in Scottish law.

I look forward to hearing from you

Regards

Limitation (Scotland) Act 1973 once a debt is Statute Barred it ceases to exist.

I have phoned the Financial Ombudsman to get their thoughts on this. As soon as I hear back from Monument, if I don't like their response I have just to contact them

Just found the Notice of Assignment,

the respective rights, title and interest in your Monument Account, the details of which are set out below,

(including the right to receive payment of the outstanding balance)

were assigned by Raphael & Sons PLC to Compucredit International Servicing LLC.

Letter is dated the 22/12/2014, sent by Arrow Global and using Capquest as the dca.

Hi D,

An Adjudicator at the FOS may agree with the bank, that it is fair and reasonable for the bank to set off the debt against an unpaid balance, even though the debt was sold on.

However, an Ombudsman may agree with you, that the bank has no right to set off any balance to a 3rd party.

I think this may be as useful as the SB argument.

the crux here is the debt no longer exists its Scotland.

dx

The woman I spoke to today seemed interested enough. Its a weird one with it being a Scottish statute barred, the debt no longer exists so technically they cant offset to a zero debt and especially not to a 3rd party.

I have to wait for their response and see what they hit me with then take it from there I suppose.

I will let you all know though

I have received a letter from Monument today

I am sorry you have had to contact us about your Monument account. Thank you for taking the time and trouble to do so.

I am looking into your concerns regarding your Payment Break Plan claim and will let you have a response or update as quickly as i can but no later than 15 December 2015. This date is set in accordance with the Financial Conduct Authority handbook........bla bla bla

I am presuming this is their response to the email i sent them pointing out that it is Scottish Statute Barred

Hi Delilah,

Just update us when they respond further.

I received a cheque from Monument this morning for £215.77.

Whats my next move folks and can i put that cheque into my bank account just now??

Hi Delilah,

If there's no explanation for the amount received, I'd bank the cheque and write back to Monument saying :-

I refer to your cheque for £215.77 which I will bank as a payment on account of the final amount due to me.

Please provide me with your calculations showing how this amount is made up.

Thank you. I will email them later on today. There was no explanation on the letter just that it is a refund of the PBP