Hello. I have been looking at this forum for a while and it has been very useful. I am having some trouble with 1st Credit and thought it best to begin a new thread.
The background is as follows:
- In July 2007 I was contacted by Connaught Collections (on behalf of 1st Credit) about a debt from Lloyds TSB for just over £50,000
- I wrote back to them disputing the debt and asked them to prove the debt. Also sent SARs to 1st Credit and Connaught Collections. Received nothing back from 1st Credit and just a letter from Connaught Collections giving one page of information (name, DOB, addresses, debt amount). No statements or credit agreements were sent.
- From then on there were a number of letters from Connaught and then 1st Credit (and various “solicitors”) chasing the alleged debt and threatening legal action. Responded every time with a letter denying the debt and asking for proof. Periodically received letter offering a generous discount. Again, sent letters denying the debt and asking for proof.
- During middle of April 2010 received a bundle of papers from 1st Credit with some statements for a current account, some screen prints from a computer system that show some other account although it is difficult to identify what the account is. There is also a faxed copy of a credit agreement which isn’t very legible. I have written back, still denying the debt and questioning the information they have sent.
I keep getting phone calls from them even though I have asked them in writing to only communicate by letter. Sometimes the people on the phone get very abusive and shout.
Although I can’t remember the period very well for various reasons, it looks like the £50,000 they allege is made up as follows:
- A loan for £22,000 + PPI cover for around £4,000 (added to the loan balance) giving a total loan of about £26,000. This was I think a consolidation loan for an overdraft that had run up on a current account. Loan was taken out in early 2002;
- The remainder looks like an overdraft that continued to accumulate, although the statements are unclear.
For various reasons I got into trouble. I moved house and then the debts look like they were sold. The last payment on the loan was in late 2002, after which the payments stopped according to the screen prints. From then until late 2005 interest continued to be added to the loan until it looks like it was sold in Oct 2005 (balance £34,000). There is a small payment into the loan account just before it was sold, although this wasn’t by me (it is marked “ccd rebate” on the statement).
I’m not sure what to do or whether they can take me to Court as they keep threatening. I’m not sure whether the loan is Statute Barred. Also, I think the loan agreement may have some issues (although the copy is a fax copy and not very good). For example, is says that the Credit Agreement is regulated by the Consumer Credit Act 1974 even though the total loan (inc. the additional amount added to the loan for PPI) is over £25,000.
Sorry for the long post – just wanted to put as much info as possible. And thanks in advance for any help.