READ MORE HERE: https://www.gov.uk/government/news/thousands-of-students-will-benefit-from-new-cadet-units-backed-by-50-million-government-plan

About a year ago, Ms First Class received a letter from Lowell about an telephone contract "debt" for about £500. She remembers taking out the contract about 3 years ago, and admitted that she probably defaulted on payment and just forgot about it until that letter arrived at her new address. Lowell produced a vague statement of charges for the mobile phone account, i.e. "January 2008 - £67", "February 2008 - £71" etc, with the final payment saying "Termination Fee £xxx". No breakdown of what the amounts related to. in November just gone, I discover these letters she has and decided to try and sort the issue out. I wrote to them asking them to prove the debt existed and to provide sufficient evidence to support their demands. Statements turn up with more detail, as well as information that the CCA doesn't apply to such accounts, which is correct. Before Christmas I write a very simple and short letter, again on her behalf, effectively saying I was still not satisfied with the "evidence" produced and that should they proceed to court, their claim would be fully contested, with costs, as well as detailing my own legal qualifications, stated I would be advising my partner accordingly. just read their reply, which states: "In respect of account XXXXXXXXX, whilst we believe this to be due and valid, I have taken the decision to close this with immediate effect. This is done in the interests of arriving at a swift and amicable conclusion and is not done as an admission of any wrongdoing on our part. You will hear no further from us or any organisation connected with this matter as the account will not be sold or passed on". Anyone who knows the DCA field a bit better care to take a punt at why they've backed down without even trying to push it a little bit further? Lack of evidence on their part/problem with the "account" or were they concerned I might well give them a headache in court?

http://www.dnaindia.com/money/1905975/report-jp-morgan-set-for-13-billion-dollar-fine-over-risky-mortgage-backed-securities

http://www.dailymail.co.uk/money/news/article-2207566/Santander-snubs-Governments-cheap-loan-scheme.html