Hi all, I came across this site googling a company called asset link capital 5, they have taken over my Barclay cc debt and I wasn't sure if it was a [problem] or not. I've read through a lot of posts and I'm intrigued and excited about the potential.

Currently I am paying Gregory Pennington £183 per month(£38.50 in fees) £144.50 split between 3 creditors for the following amounts. The Dmp started mid 2014

Barclaycard Services £6,744.23

PRA Group (UK) Limited - Bromley £7,174.96

SCL Collections £4,413.73

I've just had a letter from ALC5 saying they have appointed link financial outsourcing to service my account, it had an accompanying Barclay letter of confirmation.

My main question was around servicing the debt myself thus saving on the fees.

From reading other posts I can see there is a process first regarding sending CCA and SAR.

I'm not exactly sure what these are,

I get the main gist that I'm trying to establish whether the debt is enforceable or not.

I'm unsure of the process.

Do I stop paying the DMC immediately and inform them I'm sorting myself?

And is it the DMC I send the CCA/SAR too or the original creditors?

Also the ALC5 letter, does this mean Barclay have sold my debt to them?

Sorry for so many questions in my first post.

Hi and welcome to CAG

A DIY DMP is quite easy to do so long as you are strict enough with yourself. There are also free DMP providers out there if you can't deal with it yourself.

All Gregory Pennington did was to write to your creditors with a pro rata offer based on your income and expenditure. They then set up the payments for you. This can easily be done by yourself.

A lot of financial companies do not like working with fee charging companies and would prefer to deal with either a free one or you directly.

It looks like from what you say about Link is that they are acting for Sharklays and haven't bought the debt.

A CCA request is only useful for debts that are pre 2007 as if a creditor started court action they would have to produce the original. After that time, they don't need one to prove you had benefit of the funds. Getting an agreement is useful nontheless.

The SAR is to get a full account of what has been added in fees and charges which may be reclaimed (if unlawful) It should also show what action has been taken on the account since it's inception.

There is also another benefit of doing it yourself. If you are able to save some money, you can offer Full and Final Settlements but if you choose that route there are steps you need to take prior to doing so.

In our library are some forms you can use for the CCA request, SAR and income and expenditure forms.

oh god yes

please dump the greedy penny's

sadly you'll find most of your payment goes to their fees and the secret F&F pot they hide anyway.

sar to the greedy pennys might not be a bad idea too.

how long have you been with them ?

and yes just stop paying the greedy pennys.

then sit back and wait

THEN as each of the other fleecers write to you waving their arms around that you've removed yourself from the cash cowing milking parlour

poss then send them a CCA request. but check with us first

Thanks for the replies this is eye opening stuff. I've been with GP since June 2014.

So stop paying.

Wait for contact from creditors then reply with a CCA and a SAR request.

Send a SAR request to GP also.

Sar to gp now

Before stuff hits the shredders

The rest can wait

Just come back here when they start to send the first through your door

And no talking to fleecers on the phone

Who are scl?

Scl are a collection company for Santander I believe.

no

what does scl stand for please - got a letter with their real name

never heard of 'em in 95'000 post

don't mean CSL do you - they are a fleecing DCA.

dx

They are a DCA, I've only ever had one letter from them to say they were taking over the collection from Santander, but since then I've had no contact from them.

SCL - Lemmer dig some more...

PO BOX 4762,Worthing,BN11 9NT,United Kingdom

Do you still have the letter?

can you scan the letter up

minus pers details to a PDF please?

upload

I don't actually, I sent all my correspondence to GP at the time they set up my account.

One last thing guys, should a contact GP to tell them I'm cancelling dmp or just send the SAR and say nothing.

Write cancelling

ask for any f&f pots they hold returning

And inc the sar

Thanks very much for the help, I'll update when things start rolling.

Just a quick update on this, I wrote to GP cancelling DMP, I included the SAR.

It was received and signed for(sent by registered post).

I've had no confirmation of receipt formally by GP and since then I have only had two email requests referring to the account being in arrears.

What date was the SAR signed for? The 40 days start from the day after delivery. I assume you included the cancellation with the SAR so they can never deny receiving it.

Based on the posts above, the 40 days are not yet up but they should have acknowledged the cancellation.

One simple email back to them referring them to your letter dated xx/xx/xx should help one department work out what another department is doing. (read departments as two desks next to each other) You could also give them a nudge on your SAR.

I rang them today to see if they received the cancellation/SAR letters.

the operator couldn't see that the letter had been received.

I said it had been received on the 29th Dec signed by a college.

He knew the guy so put me on hold for 10mins to go check.

He came back and said the guy can't remember what he did with the letter and can I send a copy (which I have as I scanned them before I sent them).

The operator said he was sorry, would close the dmp today and I'd get a confirmation letter in the post.

gives you confidence. Not..

Ruddy poor practice. I would send another copy but remind them that the original date still stood and they should comply within the original dates. Failure to comply by the dates required will result in a complaint to the ICO (not that they are much use TBH)

I uploaded the letters direct to the GP site.

I received a letter a few days later confirming the DMP closure.

They also attached a sheet with the names of the people they were paying with reference numbers and amounts.

I don't have access to my PC at the min to upload the letter

but, is that it in a nutshell from GP?

Do I now wait to be contacted by creditors or should I contact them first.

well certainly upload it to PDF later please

pers i'd wait for the forest to drop through you door.

then comeback here and post the letters up.

just remember.

NO TALKING ON THE PHONE

you are under NO legal obligation to discuss you debts on the phone or at your door to powerless DCA's they ARE NOT BAILIFFS.

dx

Ive recently had what looks like the full SAR request emailed to me from GP, it includes.

We refer to your data subject access request in which you requested information under the Data Protection Act 1998.

lease find below a list of the information which you have requested and which is enclosed.

-A copy of all Sent Communications

-A copy of all Received Communications

-A Balance Table with first and last confirmed balances

-All Gregory Pennington notes

-Signed Authority

-Gregory Pennington Terms & Conditions

-Statements of Accounts

gp first reply to cancellation.pdf

Hi

Have they sent all comms they had with each creditor as well?

Have they sent all information of how much you have paid them and how much they distributed to each creditor?

Are you able to reconcile every payment made with the charges they made? (just in case they have overcharged you)

Did they build up a 'pot' of cash to assist in Full and Final Settlements and if so, where is it?

Did all creditors agree to freeze interest? If not, what was the point of GP?

Now that you have the accounts back in your name, I suggest contacting each creditor to arrange repayments but it may also be worth sending each one a SAR to find out what charges they have added (if any). The creditors may now be in a position to assist you in repaying the debts more quickly.

If you can build up a pot of cash, the creditors may just accept a low figure in F&F

Paraphrased below.

[quote=silverfox1961;4996979

]Hi

Have they sent all comms they had with each creditor as well? Yes

Have they sent all information of how much you have paid them and how much they distributed to each creditor? Yes

Are you able to reconcile every payment made with the charges they made? (just in case they have overcharged you)

Yes, plus there is prof of receipt by creditors.

Did they build up a 'pot' of cash to assist in Full and Final Settlements and if so, where is it? No, they charged an on going monthly fee that was the same from inception to end.

Did all creditors agree to freeze interest? If not, what was the point of GP? Yes, but one was reviewed every 6 months.

Now that you have the accounts back in your name, I suggest contacting each creditor to arrange repayments but it may also be worth sending each one a SAR to find out what charges they have added (if any). The creditors may now be in a position to assist you in repaying the debts more quickly.

I've had a few phone calls from PRA group which I didn't take as per advice above. They have since sent a letter with a settlement offer but it is only £500 lower than the total.

If you can build up a pot of cash, the creditors may just accept a low figure in F&F

Ok so I've had one reply so far from PRA group, they've sent a request for an income expenditure. Should I fill this in as requested?

Thank you for your recent contact.

Please complete the enclosed Income and Expenditure form, ensuring you give us the most accurate reflection possible of your financial circumstances. You may submit the information via one of the following methods:

· Telephone our offices on 0800 877 2772 where you can complete this with one of our agents.

· Email us the completed form to [email protected].

· Complete online at http://www.pragroup.uk.com/ieform.

· Post completed form to PRA Group (UK) Ltd, 2 The Cross, Kilmarnock, KA1 1LR.

If after 30 days we have not received any contact from you, the account will reopen for further contact including letters and calls.

Should you wish to discuss this matter further please do not hesitate to telephone our offices on 0800 877 2772 or email us at [email protected]; alternatively you can write to us at the address provided at the top right hand corner of this letter.

Yours sincerely

Jacqueline Quinn

Communications Department

E: [email protected]

T: 0800 877 2120

F: 0845 280 2203

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PRA Group (UK) Limited

2 The Cross

Kilmarnock

KA1 1LR