Trying to cut a long story short as much as possible.
Hubby has 2 accounts with Jacamo and Fashion World (both trading as JD Williams)
In September 2017, he entered into a payment arrangement due to illness which will ultimately end up killing him.
Payment arrangement kept to next payment not due until February, or so we thought.
This morning he gets a letter from Lowell informing him both accounts have been sold to them.
He has spoken to Jacamo and raised a complaint with them and they have confirmed they have not issued him with a default notice as they are understanding of his illness,
but a business decision was made to sell the accounts.
Now I know I am going to get shot down on this
but he made contact with Lowell to see what the hell was going on.
He passed them no information which could identify him,
he wanted to know why they are in possession of two sold accounts for which Default Notices were never issued.
JD Williams (Jacamo and Fashion World) admitted they didn't issue Default Notices, the telephone call for both conversations was recorded.
A copy of the terms and conditions for the credit account are below. Between the asterisks...
Your Personal Account
How it works
Our most popular payment method is with a Personal Account. Every 28 days we will send you a statement and a payment slip by post. The terms applying to the credit we provide are detailed below
Your statement shows:
What items we've sent to you
The payments you've made during the period
Any outstanding balance
Your minimum payment
The date the minimum payment is due
What it costs
Credit Agreement Terms
This agreement provides an ongoing credit account on the terms set out below and has no fixed or minimum duration.
We will set your credit limit from time to time and will give you notice of it in writing. You can draw credit by using your account to place orders through or with us to buy goods and services up to your credit limit. For more expensive purchases we reserve the right to limit the amount of the purchase that may be charged to your account.
Most customers get our standard interest rate which is 24.99% per annum variable. The APR (Annual Percentage Rate) is 24.9% variable. Your interest rate and APR may vary depending on your individual circumstances and are subject to status. We may also increase or vary the interest rates and charges payable under your Personal Account Agreement.
If you buy goods and services using your account and pay for them in full before the due date shown on your statement we will not charge interest on those items. If you choose not to pay in full before the due date, we will charge interest from the date we added the goods to your account. We will then calculate interest each period on the opening balance of your statement. This means that when we calculate interest we ignore any payments we receive during that period. If you buy and return an item and both transactions appear on the same statement, we will not charge interest for that purchase.
We may from time to time make available promotional interest rates. If we do, we will notify you of the applicable promotional rate and the period during which the promotional rate will apply. Purchases and transactions made during this period (the "€œPromotional Balance") will be charged at the promotional rate of interest. We will tell you about any special terms which will apply to the availability of the promotional rate. We will apply the standard rates of interest to any Promotional Balance before the end of the promotional period, if you do not make at least your minimum payment by the payment due date shown in your statement at any time during the promotional period. At the end of the promotional period, the Promotional Balance will transfer to your standard account balance and the standard rates of interest will apply to it.
We compound the interest (which means we charge interest on interest) and add it to the balance on your statement due date. This will make the annual percentage rate (APR) higher than you might expect from the figures above.
We may vary the interest rate (or other provisions of this agreement) giving you at least 21 days written notice - see condition 11.
Example: Total Amount Payable £450.44, APR 24.9% (variable)
We base these examples and APRs on the following six assumptions that the law requires us to make :
Your credit limit is £400.
You order £400 of goods and services from us immediately at the start of the agreement.
You repay the whole amount (including interest) in 12 equal monthly instalments.
The interest rate stays the same.
The agreement remains valid for the whole 12 month period.
Both of us meet all our obligations under the agreement.
The way our agreement works in practice is set out below.
We will send you a statement every 28 days showing the minimum payment due and the payment due date. You must make at least the minimum payment unless nothing is due. Your minimum payment will initially be 4% of the total cash price of goods and services ordered using your account or £5, whichever is the greater. We re-calculate your minimum payment in the same way whenever you buy more goods or services, return goods to us or cancel any services. If your balance is less than £5 you must pay the balance. Your statement will show the exact amount of your minimum payment. Whenever we calculate your minimum payment or the interest to charge, we always round up to the nearest penny.
If you fail to make at least the minimum payment and we or someone acting for us have to remind you, you will be charged a reasonable administrative fee - currently £12, see condition 7. If we have to take further steps to recover the money,we may also recover the reasonable costs that we or any collection agency have in recovering it.
If you miss payments, this could have severe consequences and make getting credit more difficult for you. It could lead to us getting a court order (a judgement) against you. This may result in securing the debt against your house, which may be repossessed.
Withdrawing from the agreement
You have the right to withdraw from this agreement without giving a reason. Your right to do this starts on the day after the day the agreement is made (or the date we confirm your credit limit, if later) and continues for 14 days (the "Withdrawal Period"). To withdraw you must notify us that you intend to do so within the Withdrawal Period. You can do this by telephoning us on 0161 386 2226 or posting notice of your withdrawal to: Account Management Team, J D Williams & Company Ltd, 40 Lever Street, Manchester M1 1BB.
If you withdraw you must repay any credit that you used to buy goods and services from us without delay and no later than 30 days after giving us notice of withdrawal.
The additional terms set out below are incorporated in this agreement.
By entering into this Agreement, you consent to us sending communications and notices to you via any email address you provide to us from time to time. The emails will be sent in plain text and any attachments will be in PDF format.
Parties This agreement is made between J D Williams & Company Ltd ('we' or 'us') and you, the customer.
Terminating the agreement We may terminate this agreement immediately if you break its terms, but we must first give you notice under the Consumer Credit Act 1974. We may also terminate the agreement on two months written notice. You can cancel the agreement at any time, free of charge, by giving us one month's notice. You can do this by writing to us and repaying your outstanding balance in full at the same time.
Suspending your credit We may suspend, restrict or terminate your right to credit at any time for any reason that we can justify as fair. If we do so, we will write to you to tell you before or immediately afterwards, unless the law says we do not have to - for example if doing so might stop the prevention of a crime.
Difficulty paying If you have difficulty making payments, you should contact us as soon as possible to discuss a payment arrangement. If you experience financial difficulties and have two or more J D Williams personal credit accounts we may, if you agree, join the accounts into one to make repayment easier.
How we use your payments We apply the payments we receive in the following order:
Payment of all administration charges shown on the latest and any previous statement.
Payment of all credit charges shown on the latest and any previous statement.
Payment of all payment protection insurance premiums shown on the latest and any previous statement.
Payment of the purchase price of all goods and services shown on any previous statement.
Payment of the purchase price of all goods and services shown on the latest statement.
Debiting your card; continuous payment authority Whenever you and we both agree, you authorise us to take payments due from you by debiting the card you provided at the time, which will allow us to draw the agreed payments directly from your bank account. This will work up to the date of any other payment arrangement you and we agree or until you cancel the arrangement (which you can do by contacting us). The amounts we will take in this way will be the minimum payment due from you, or the amounts we agree with you at the time if you are making reduced or alternative payments to pay off any arrears. We will let you know if we cannot take any agreed payment in this way. If your card issuer refuses payment, we will not request any further payments until we have spoken to you. We will never insist that you set up a continuous payment authority as a condition of us accepting lower or rescheduled repayments. We offer you a continuous payment authority as a payment choice. We will cancel the authority on request.
Fees and charges If you fail to make at least the minimum payment (including if any credit or debit card payment is rejected, any cheque you use is dishonoured, or a direct debit is not paid) and we or someone acting for us have to remind you, then we may make a reasonable administration charge. The current charge is £12.00 but this may change. We will give you reasonable notice of a change. If you make a payment via a Payzone or Post Office outlet using the barcode on your statement, we'll charge a £1 fee. If you use the giro slip when paying at the Post Office, we'll charge a fee of £2.75.
Payment arrears If you fail to make any payment when it is due, we can require you to pay the whole amount you owe us immediately after serving the notice required by law. If you fall into serious arrears we will consider making other arrangements with you.
Buy now, pay later From time to time we may invite you to purchase goods and services with the option of deferring repayments in a buy now pay later deal for a specified period ("BNPL"). Under this option we charge interest from the purchase date and add it to your statement balance each period. You need not start paying for those purchases until the date we give you when we invite you to use BNPL. Your statement will show the exact amount of any minimum payment we still require. You are free to pay off the balance sooner if you wish. It will cost you more if you use this BNPL facility as we still apply interest. In some instances we may not charge interest on BNPL purchases. If so, we will let you know about this when we invite you to enter the scheme.
Allowing you not to make the minimum payment After giving you written notice, we may from time to time allow you (if you wish) not to pay the minimum payment shown on your statement for the period we specify. If we do this, we will continue to apply credit charges under this agreement.
Our right to vary the agreement We reserve the right to vary any part of this agreement (including the APR, interest rate(s), charges and regular minimum payment) at any time by giving you at least 21 days notice in writing. We may vary this agreement for the following reasons:
Changes in the cost of providing the service
Changes in the cost of funds or base rates
Changes to law, regulation, or other external factors that may affect you
Changes needed to operate our business in a profitable and prudent manner
Changes in the risk make-up of customers or the overall mix of fees and charges applied, or both
Communication You agree that we may communicate with you (unless otherwise required by law) by telephone, postal or electronic mail to the address details you have provided in this agreement or which you otherwise provide. If you change any of the address details (whether postal, email or telephone) that you have provided to us you must let us have the updated address as soon as practicable.
Legal matters If any part of the agreement is found to be legally invalid or unenforceable this shall not affect the rest of it, which shall remain in full force and effect. We may transfer all or any of your rights and duties under this agreement at any time to any body that holds the necessary authorisation. This will not affect your rights under this agreement including your legal rights.
The law of England and Wales governs this agreement which is subject to the non-exclusive jurisdiction of the English and Welsh Courts. All communications about this agreement must be in English. If you have a complaint about this agreement and we cannot resolve it to your satisfaction using our own internal complaints procedures, you may be able to refer the matter to the Financial Ombudsman Service for independent investigation.Their contact details are 0800 023 4567 email@example.com and the Financial Ombudsman Service, Exchange Tower, London E14 9SR. Their website address is http://www.financial-ombudsman.org.uk.
We are supervised under the Consumer Credit Act 1974 by the Financial Conduct Authority of 25 The North Colonnade, Canary Wharf, London E14 5HS. (Authorisation No: 311618)
JD Williams & Company Limited, registered office, Griffin House, 40 Lever Street, Manchester M60 6ES. Registered in England No. 178367.
JD Williams & Company Limited is authorised and regulated by the Financial Conduct Authority.
YOU MAY PRINT OUT AND KEEP A PERMANENT COPY OF THESE TERMS AND CONDITIONS FOR YOUR REFERENCE BY CLICKING HERE
So my question is what now? My husband has 2 debts which have been sold on without Default Notices. And inside the letters from Lowell, is confirmation from each company the debts have been sold.
He is worried scared of what is going to happen, and while he knows these companies are powerless. It won't stop them taking him to court or trying to destroy his credit file which is in quite good health.... It clearly states under the T & C they will issue a notice under the Consumer Credit Act.
Any advice most welcome.