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wooldra

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About wooldra

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  1. Attached the IDEM letter as a PDF, (hopefully readable!). Regardless of every other point, the one that confuses me is IDEMS belief they can reset the clock on a debt defaulted by the OC in 2006. The only thing that I can think of is they assigned it its own reference when they took on assignment and called it a 'loan account' which it most definitely wasn't.
  2. After much hard negotiation I finally settled with IDEM to get them off my back, a month later they sent me the attached 'gem'. Having read many posts on this site before, and knowing that this was defaulted back in 2006 when I entered an agreement with the OC for monthly payments, this went on until IDEM acquired the debt in September 2012, (I had received the Assigned to correspondence at the same time as a letter from the OC saying the debt had been flogged to IDEM). Two questions re the attached letter, as I no longer live in the UK and have no UK address where do they think they are going to post details with the CRA's?. Secondly how come they think the can resurrect the six year rule?, my understanding is that it is six years from the date the OC defaulted it and this shower cannot restart it?
  3. Under the Law of Property Act 1925 if the debt has been assigned to Cabot regardless of what they paid for the debt they are legally (unfortunately) to claim the full value of the debt from you, I believe its section 136 of the act that provides for this, therefore what they paid would not be acceptable as a defence in court. If they own the debt, you should have received a Notice of Assignment from them and notice from the original creditor that they have sold the debt. Please note they can sell the debt on without seeking your permission. If you acknowledge the debt, you may be able to negotiate a reduced settlement sum. While this process may stick in the craw, unfortunately it is the law, which could do with a change!!
  4. Hi Brig, this debt was defaulted by the OC in 2006, I was paying under an arrangement till 2012 when the debt was assigned to the DCA, (who are also a debt buyer). So they cannot again put a six year notice onto my Credit Reference Account?. Re DX100uk 's comment it took very hard bargaining to get an acceptance of 75% of the outstanding sum, and believe me we went through all the requisite hoops of CCA etc. They told me their normal policy is the only F&F they will accept is 100%, take it or leave it and keep paying. They are tough and according to my research unyielding and also one of the biggest players in the buying of unsecured debt, indeed during 2011 - 2012 according to their annual accounts it contributed 24% of their bottom line. I have dealt with many DCA's in my time and would rate them as the toughest, you cannot get to managers or other decision makers regardless of what tack you try. If we look at the business of debt buying and assignment in my view the only thing which will change this business in the long term is revision of the law, particularly in regard to the Law of Property Act 1925 and also the transparency of groups such as the CSA and the DBSG. If you look at their structure you will find it to be very self-serving. A change in the law is required, this will be firmly resisted as the major investors in the big DCA's/DBG's are banks, insurance companies, venture capital outfits who care little for people only the bottom line. Here endeth the lesson!
  5. Hello, after some negotiation I have come to an agreement with my DCA over a full and final settlement. In the body of the letter it states 'your offer of £xxx.xx as a discounted full and final settlement has been accepted, to release your personal liability on the above mentioned account' 'Following receipt of your payment the remainder of the balance will be written off and recorded as a partial settlement with the Credit Reference Agencies. We must inform you that this may have an adverse effect on your client credit rating and will remain on record for six years. If you wish to avoid this then you must pay the full balance outstanding' Does this seem to be a bit of a mean action?, they have received 75% of the full balance as an F&F btw.
  6. I think you will find that Arden are a subsidiary of the same company that owns IDEM, so IF I am correct your debt has been passed to another company within the same group. More knowledgeable people please correct if I am wrong!.
  7. Well in that case I am properly buggered. The reason I have had dialogue with IDEM is because of their total disregard in how they treat their customers. I also feel a personal compunction to 'bat' for the individuals who, to use and appropriate term are frightened by DCA's antics When trying to make a F&F with these people, apparently the word 'YES' is unknown in the Solihull area!. I have supplied relevant I&E details but not on the official IDEM form that wants to know about your partners assets, the value of any motor car you own, plus any other asset you may have, plus the source of the repayment money etc. I have settled other accounts in the past with the OC for LESS than these people want, and remember they bought my account with a tranche of others at a very advantageous price!. All I want is a FAIR settlement, but FAIR does not seem to figure in their vocabulary. They are part of the Paragon group , their annual accounts show that IDEM servicing contributed 27% of their bottom line profits. If you goto the financial pages of the Stock Exchange you can see how many big funds hold Paragon stock, I wonder if they know (or care) how a large part of the profits they receive through their shareholdings are as a consequence of the nasty business of debt buying.
  8. After a significant period of requesting, I have received from IDEM ostensibly my CCA this consists of the signature form with my name and address typed on it and two signature boxes one for additional cardholders and one for myself (both unsigned), together with a copy of the Terms & Conditions plus an IDEM statement showing payments to them since they were assigned the loan. Is this satisfactory in regard to satisfying a CCA request?. This is for a credit card taken out in 2005
  9. Gothia seem to be a fairly heavyweight player, just looking at their website, the quote below from their website an interesting observation whatever it means!! Companies and private individuals are becoming increasingly indebted all across Europe and as a result of inadequate resources to fight these developments the time frame for collecting outstanding debt is unacceptable in several countries. Gothia will continue to promote the use of available execution and debt sanitation measures in a timely fashion when appropriate. One to keep an eye on I suspect
  10. There are others who will no doubt advise you better than I but 1). If your debt has been sold to IDEM you should receive a Notice of Assignment from them. 2). I believe that you do not have the right to see the Deed of Assignment as this normally covers the tranche of debts acquired by the DCA and is considered to be a confidential document. 3). You should as a matter of course, check your Credit Reference Agency status to ensure there is nothing untoward on your statement 4). You should request a copy of your CCA from IDEM, they are duty bound to supply this for a fee of £1 in 10 + 2 working days. There are letters available on this site to guide you on how you request this. 5). Dependent on the result of 4). above will determine how you proceed, no CCA puts the account in dispute and you do not have to pay until/unless this CCA is produced, n.b. this does not mean you do not owe the debt. 6). Another very important point is when did you last make a payment in respect of this debt? I have probably missed a few points here, but I don't think I have misinformed you , there are others who will doubtless correct me. Keep calm, follow actions through logically and you should get the best result you can FINALLY STAY OFF THE PHONE, ALL CORROSPONDENCE IN WRITING PLEASE
  11. CRA not relevant as I live in Europe not the UK now, but have checked against my previous addresses and all clear. I have sent the letter you kindly referred me to first week in July, so I intend to cancel the DD due on 22nd August until such time as the correct paperwork is produced. Thanks for your support, I want to be as honourable as I can be in dealing with this matter, a point not necessarily appreciated by the other side!
  12. Having read various threads on here about the 'changing value' of a CCA, i.e. these days courts decide on probability than you are a debtor rather than the evidence of a produced CCA either a copy of the original or more recently just a copy I am a bit confused as to what to do next. This agreement was defaulted back in 2006, I had a payment plan in place with the OC MBNA to pay £160 per month, this remained in place until October 2012 when the balance was assigned to IDEM Servicing. We have had several rounds of discussion since then culminating with a request for a CCA on 13th May followed by an in dispute follow up early July. IDEM have to date not produced ANY paperwork, either a copy of the original nor a reconstituted agreement. They claim to be trying to obtain this detail from MBNA, they also agree that their handling of matters to date has been shambolic!. They have been receiving a payment monthly of £136 (their figure). Can I without fear or favour now stop paying until they provide a response to my request. I find some of the advice on CAG a bit contrary and have no wish to give IDEM any opening to more dramatic action, on the other hand I am brassed off with the stalling tactics they have adopted.
  13. An update, still no CCA, IDEM and I quote 'are asking to MBNA' for the information, I have pointed out that I requested this on 13th May, and consequently this account is in dispute, and remains so until the appropriate documents are produced. I just want this problem to go away and not go on for years with this debt being passed around from pillar to post, reams of correspondence buggering around etc.. my view is that I am prepared to offer a short settlement to achieve this. I have had the usual we are doing you a favour by not asking for any interest, I have pointed out that I have read Paragons annual report and am able to ascertain approximately what they paid for two tranches of MBNA accounts they purchased last year. we will see who blinks first, sometimes negotiation is better than confrontation. As far as I am concerned they can have it either way, watch this space to see what happens....
  14. Still no communication from IDEM, I can only assume this is 'policy', is it possible to complain to someone about this, it appears to be a blatant refusal to deal with you as a 'customer' and fulfil what I understand to be a legal obligation.
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