watts87
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Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Now I see where I was getting confused! So are you suggesting I make a CCA request to the payday loan companies. TBH all my defaults have not been communicated with or paid since they defaulted, so SB should be the same time...ish. as when they drop off my credit report. Do you know if companies keep a record of people who have defaulted with them? So I had a outstanding and unsettled default with Bank X, when my credit file cleans itself up....if I went to that bank for a mortgage would they still be able to see and refuse me, even if my credit file looks squeaky clean and i have good salary etc...? -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Ah right OK, but most statute barring will start counting down after you have defaulted if you havent corresponded/paid....give or take a month or so. Because when i look at my credit file most of them stop being reported 6 years from the default date...approx. -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Yea sounds like a good idea, as they arent on my credit file at all at the moment as far as I can see. What is the difference between the SB and default date? As far as I understood a debt becomes SB 6 years from default or last correspondence/payment, whichever is most recent. Really appreciating your time and patience with this, thank you. -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Sorry Im not sure what you are saying is an issue i do not need to worry about? or what they would refund me for? I get what you are saying, that if they default me (n the correct date) it will still be 6 years from that date on SB. What would be the best way to make a complaint? Should I ask for proof of debt/default aswell? -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Yea I would be able to figure out the correct date from old emails. However if I complain to them will this not be me admitting liability for the debt? I havent made payment nor communicated with them in over 3 years. -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
Yea thats what I thought as well, the were always fishy anyway with the old CFO Resolve. I dont know whether this is just dirty last ditch scare tactics or something enforceable. So you are saying keep an eye out for the default on my credit file, if it appears and it is dated after 2013....complain? -
Redress followed by Default....3 years after debt!
watts87 replied to watts87's topic in Capital Finance One/ Mtcollect
That was my understanding exactly. What can I do about this? do you think they will log the default from today or from the original date? -
Hi all, Needing some help here. So as with many people I received redress from CFO. *This is not admittance of liability for this loan, just queries of correspondence* Original loan: £550 Original date: 06/03/2013 Before redress: 1050 Redress: 350 Outstanding: 708 Not long after being notified of this redress I started to receive collections emails, I recently received a intent to default notice, and then today I have received a default notice by EMAIL. As with many of the loans I am supposedly liable for this one is many years old and would be SB in less than 3 years. Can they apply a default so long after, considering payment or communication on the account has not been made for 3 years? Is Email a valid method to communicate a default? Some help would be greatly appreciated. My credit file should be clean by 2018, and so have been holding out for that, but this could ruin it all
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Ok excellent. I'm ready to really start attacking this, where do I begin?
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Hi Guys, Fletch.....I haven't heard from many of the lenders for over a year now (on my older debts), but they are still listed on my credit file, so they don't just disappear. Haha. I did use the money, so yes you are correct I do owe the real amount. What is the REAL amount? I need quite a hand holding through all this as everything is quite a mess, I have left it for so long I don't have a clue who most of the debts are held by now and many have been passed on multiple times. Also as I am planning on entering a DMP I understand that they don't negotiate the debts any lower for you...they just takes the debt at the value they are? So it is down to me to get all of the 1000s of pounds of over the top fees and interest knocked off. So I really need some step by step guidance as hand holding tailored to my situation to help me negotiate the values lower before putting it all into a DMP.
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Hello, well to be honest I haven't done anything I am a bit useless at all this (clearly). I was in the middle of finishing Uni as well, so that kind of took priority. But now I have graduated and landed myself a very good job, so am able to start [aying all these debts off, so I think it is sweet time that I started dealing with all this. I am completely at terms with the fact that I need to repay all these debts, however I am just wondering if there is anything I can do about these specific debts listed before, as they should never have been lent to me in the first place.
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Has anybody got any further advice on dealing with these/ how to challenge these?
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Thanks renegade. Any template letters? Also I was a bit confused by your last sentence there, I'm not sure what you were referring to. Also has anyone got any advice on cancelling the CPA. My DMP hasn't been set up yet as I am gathering information, I have cancelled my old card but obviously without CCCS enforcing my DMP yet I am worried that the PDL companies will dip into my account still.
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Hi thank you for your replies. Well the old debts have been sold on, but if I log into my 'accounts' for these companies under my old email address it still shows the old debts/a note that they have been sold on. How would I go about tackling them as this being irresponsible lending? Has anyone got any template letters. Also as I am in the process of entering a DMP (mentioned earlier) I have cancelled my visa debit with Barclays, however when contacting them to also cancel any CPAs they are flat out refusing to do it, telling me they can't do it until any actual money has been taken from my account. So also need a little help with this as I have recently discovered that blocking a card will not always stop these PDLs dipping into your account as and when they please (which could potentially break my DMP due to favouring debtors).
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Haha no worries, I am just looking for a legitimate way to challenge these debts due to the fact they have breached guidelines. Wonga were the worst, on an income of £1100 (on a good month) they allowed me to borrow £550, with interest total £780, with oustanding debts with them and current PDLs with other companies.
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It is with StepChange Debt Charity, formally the CCCS
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Thank you for moving it to the correct location, bit of a newbie here! SO do you know how I would go about challenging these debts then, because the people I am entering a DMP with have suggested I do this as well.
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Hello all, I am looking for a bit of advice. Back in 2011 I took PDLs with Quickquid, Wonga and Payday express....I defaulted on these loans and have never paid them down, they are still chasing me today (I am currently entering a DMP now though). However in February/March I was, stupidly, looking for further borrowing and was granted loans by all 3 of these companies. I thought it might have been because I am at a different address now, however while checking my credit file it shows that my original debts and the new ones with these companies are all tagged on my credit file together, so they should have been aware they were lending to one of their longstanding defaulted debtors. Now I know it was stupid of me to borrow more from these companies, but as a question, does this kind of lending not breach their responsible lending policies? As I am clearly someone who cannot manage debts, plus each of them have lent me up to 3/4s of my monthly income?
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Natwest Overdraft and Robinson Ways
watts87 replied to watts87's topic in Debt management and Debt self-help
It would have been 2011, as I said once they said they were closing my account and I needed to repay the outstanding overdraft I panicked and buried my head in the sand. -
Natwest Overdraft and Robinson Ways
watts87 replied to watts87's topic in Debt management and Debt self-help
It was a Student OVERDRAFT. When I finished University in 2007/08 I converted it to a standard OD as I had started working and was no longer viable for a student OD. -
Hi there. Back in 2011 I had a former student overdraft with Natwest totalling £1600, after a few financial difficulties I had breached my overdraft to the point that it was at £2100, having returned to University after working for a few years I did not have the money to settle the amount over and bring the overdraft in line till I got my next student loan, which was a few months away. Having looked into claiming back of bank charges I believed I may be able to claim them back under the hardship clause, as I was a student, unemployed and stuck in a vicious cycle of bank charges. I calculated my bank charges, which totaled close to £2000 over a period of about 5 years, compiled the relevant letter and sent the request off to Natwest. Rather than replying with a rejection of the claim or further discussion Natwest replied with a letter saying that as I am in financial difficulty to help me they will close the account and organise a repayment plan with me, I spoke to them to dispute this as there was no way I would be able to repay the OD anytime soon. Wrongly I buried my head in the sand and the OD has been passed from Natwest to numerous different debt collectors, who have in turn passed it on to other debt collectors. The debt is now owned by Robinson Way who are requesting £2,399.88. Either in full or by repayment plan, and threatening a home visit in 7 days. Could some body offer some advice, this account defaulted around September 2011.
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