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Found 1,060 results

  1. I like many others objected to Erudio's new terms and conditions that I had to accept if I wanted to defer my student loan. So before the deadline I used the template letter and sent in my proof of earnings, but they just ignored me. So I sent it in again with another letter, and a note to say I didn't like being ignored. They just ignored me. Then they sent a default notice, giving me X number of days to contact them, the start date of these days was about a week before they posted it. I wrote them another letter disputing the default and objecting to their inability to post letters on time. Now they have terminated the loan and demand full payment in 7 days, yet again sent late. Any ideas of how to deal with what appears to be a best slack, at worst criminal company?
  2. I moved to Canada 2 years ago as a Permanent Resident and I've been paying the SLC for the last 18 months but now I've had a private loan recalled (father in law) and I can't make payments to him, MBNA UK (£10,000 on 0% credit card) and the SLC. I've decided to pay my family and MBNA but I want to know what damage the SLC can do to me. If not paying the SLC is going to ruin my credit then I'd rather lump it all in and default on the MBNA too so I can pay this private loan back quicker. If not I'm happy to pay. I get my citizenship next year and it's unlikely we will be returning to the UK. Ireland at some point possibly but not the UK. Loans were taken 2005, 2009-2012. Totally £21,000. Outstanding is £15,000 Thanks in advance.
  3. Hi all, I am hoping someone can offer me some advice please as i am a little confused by all this. I took out a secured loan in 2006 with Welcome Finance and thereafter got into financial difficulty with the loan going into arrears. A company called Experito Credite then got in touch to set up a payment plan, which I did paying them £50 a month. After this, the loan was then transferred over to Lowells who i continued with the same payment of £50 a month. However, on looking at my recent Lowells statement, it claims a company called Sigma Financial Group are the original creditors. I have never heard of this company and i cant find any link on the net between them and Welcome Finance. I obtained a copy of my deeds and Welcome Finance are listed as having a charge but there is no mention of any of these other companies. I am looking to sell the property and possibly get a reduced settlement. Having spoken to CAB, they advised me to do a SAR in the first instance, to check for PPI or charges. Only now i'm unsure who the SAR should go to, Welcome, Lowells or SIGMA? I haven't dealt with Welcome in over 7 years now so would they even have this information? Any help would be greatly appreciated. Thanks
  4. Hi I'm wanting to get information from Blemain with regard to my loan. It's due to finish later this year and they claim the current balance is approx £4.5K which won't be cleared by the payments! I'm going to send a SAR but I'm not sure which template to use from the library. There's Full Subject Access Request or Debt or DCA Subject Access Request I was going to use the "Full" one, but then the "Debt" one looks better as it specifically mentions insurance and additional charges. Any help would be greatly appreciated. Thanks. BB
  5. Can someone kindly advise how to calculate possible PPI reclaim amount ? I have calculated my monthly PPI interest amount figure using forum details located in which I have already paid over120 months but still have 60 months to expiry. Any assistance would be appreciated as I would like to know a possible figure in order to compare with Welcome's offer if successful.
  6. Hello newby so please be kind. I am and have always been in Scotland. I had a student loan back in the early 90s. I missed a deferment in the mid 90s and they enforced me to pay the whole lot. At this point I stuck my head in the sand and moved house a couple of times. I never heard anything and got a mortgage no problem in 1998. I sold that house in 2006 and rented for a few months. Got a mortgage at my current house in 2007. Clearly never had any issues on my credit checks back then. the SLC must have tracked me down (over 10 years on) as I started getting "statements for information only" from them on an annual occurrence. They were clearly marked as "not a demand for payment". I therefore assumed they were statute barred. Checked my credit reports recently and still nothing of any relevance. Recently appears Erudio were sold my loan so I ignored their letter. Today however I had a more threatening letter from Shoosmiths LLP. They claim my account (The slc) is subject to a decree granted by the court. (No specifics). Now I know of no CCJ/Decree. Certainly none on my current file within the last 6 years as I have just spent a tenner checking. Also getting all of my mortgages/credit etc over the last 15 years hardly suggests there ever was a court enforcement. Can/do Erudio/shoosmiths try fishing with bare faced lies ? I would prefer to ignore all correspondence but this one has got me slightly twitchy. I realise their difficulties in enforcing even if there was a very old ccj/decree. However how do I find out if such an expired document ever existed ? Are they raised in the local court as to where SLC would have been chasing ? If so can I contact someone ? Many thanks
  7. hello, hoping someone can help and point me in the right direction. In hindsight I wish i had done some reaesrch beforehand and found this site 10 years ago as now i wouldnt be in the mess that i am in so in 2008 i was in desperate need of funds. I approached a broker who introduced me to lancashire mortgages. initially i went for a bog standard mortgage but due to my circumstances and being self employed it was turned down at the initial stages. they did however offer me a secured loan. i should have seen it then that it was a trap. i took out a secured loan in august 2008 for 26k adding in fees etc it came to 30k. my payments were set @ £310 per month for 300 months in the agreement. I was stupid and desperate and didnt fully understand what i was getting myself into Having re read the agreement now (as i recived a letter a few days ago, more below) it stated in a clause that i understood that this agreement was not to be regulated by CCA. had i done my due diligence and was not so desperate i would never in a day have signed something like that. The first year went fine. all payments made. then in 2010 my employment became erratic and i started to miss payments. the usual threatening letters and calls followed and they put the £35 charges on to the account more than a few times. i always made the arrears payments as soon as i could. over that year and a half i got in total 44 call charges of £35 each and 5 £150 for letters sent for initiating proceeding and 3 for sending letters advising possession proceeding starting @ £500 a pop. It was a bad time. However i paid all the arrears off etc (not the additional charges they popped on) Since then i have always paid on time. for the last 7-8 years i have never missed the agreed payments always in the hope that i can save and pay off the damn thing (I can hope cant i?) the other day i get a letter with a break down of my payments since 2008. I was horrified that i have paid near enough £30k since then (the total loan amount) and there is still 15 years left which means ill end up paying over 90k if i continue!!!! that wasnt the worst however, they have said that my plan isnt on schedule and i have to pay £12k by mid august (given literally 2 weeks notice), to give them a call to discuss options. I literally broke down. no outline as to what that £12k consisted of and no breakdown. letter just says that i had failed to keep to the agreement (well the agreement was to pay £310 a month for 300 months which is what i have been doing) . The agreement was to make 300 payments of £310 per month which i have been doing on a regular basis for 7-8 years now with no missed payments. the APR has always stayed the same with no change even the payment breakdown shows this. Yet the interest accrued was now at £380 per month. looking at the outstanding balance its at £38k!!!! i literally broke down and haven't managed to get out of bed until now I have read all the other posts and know that it changed they from blemain to together. I need to get out of this bad situation. I always knew that i would have to make the payments each month and id have to pay the initial loan amount which was inevitable with such leaches. I was bidding my time to pay as low redemption as possible. started off at 5% and now its only 1%. also with the hope that my fortunes would turn and i would have the funds to pay the leeches off in one go. However the outstanding balance is now £38k and they want an additional 12k and thats not even redemption figures. To top it all off they have registered themselves on my property with land registry. No where on my agreement does it say thats its regulated by the CCA in fact there is a small clause on the first page which states that i understood that it wouldnt be regulated by the CCA and stupidly without understanding the consequences i signed. I thought after april 2008 that the 25k limit was lifted for such agreements to be regulated by the CCA as its what i have read on other posts on the forum? and thus am i right in thinking that my £30k loan is regulated regardless of the tactic they used to insert that clause? is my agreement regulated? can they be adding the interest like they are without even once notifying me that its increased and to advise me to increase my payments? the interest rate has always been the same since day one.. never have they contacted me to say i need to increase payments(why would the i know).. So stuck... they are ripping me off left right and centre and i dont have the will to live. bleeding me dry like leeches. What can i do?? i have to call them in the morning to discuss options but i wont say much or agree to anything as surely this must be illegal or downright immoral. i must have some type of recourse? Can some one help? shed me some light? Thank you...
  8. Please can you guys advise me what I can do. The Third party insurance making it very difficult and seem like they are looking for ways not to pay. If this is the case I will be liable for the costs, which would set me back in life. Background 1.I had a collision, and claimed for the damage to my car personal injury. (it was non-fault but the Third party claimed 50/50). The case went one. 2. Third Party gave me a cheque for half on non-prejudice basis. The day they sent this, My solicitor took the hire car back from me. 3. Cheques take some time to clear, However I saw a car I liked. I asked for a loan from my cousin, on the basis that I pay him back when the cheque clears. (he previously said no, as I had nothing to pay him back. A few months down the line my solicitor called me. They cant get a better offer than 50/50. Its his word against mine. I asked what will happen to the hire car fees. They said you will get half. The other half will be written off by the hire company. I agreed. I thought everything was done,. but 7 weeks later... Issues 1. Third party wants proof I brought a car (I give them insurance documents) 2. Third party checks my bank statements. They ask were is the transaction for the car. (The car was brought cash in hand, I gave them proof of the bank transactions of my cousin loaning me money, plus screen shots from his bank. And screen shot that he paid my insurance money. 3. Third party gets in touch again. Where is the cheque we gave you and why did you not borrow money earlier. (I sent a screen shot of the cheque in my bank and said no one wanted to give me a loan) but once the cheque was posted I had people willing to loan me money as I had means to pay them back. not heard anything back yet. Questions Why are they making it so hard? I just want this to over. My life has been put on hold. Because I am afraid of what may happen if they refuse to pay. I seen many posters around about the same situations, but never the final result. I just don't want to keep prolonging this. I have provided enough evidence to show the need for a hire car, plus they have my bank statements they know my financial situation. what more do you think they can ask?
  9. HSBC now owns HFC Bank in Brighton. I wrote to HSBC Coventry PPI claims office giving my name, DOB and precise former address, last week, but they replied to say: no records of my account can be found after 32 years, and that they are not legally obliged to retain documents beyond the statutory period if an account was closed. I also opened a Loan Account in Bournemouth and fully repaid around 1983. -- same answer from HSBC: no records. I myself have retained no records whatsoever, but I am absolutely certain I had those accounts, and 70% sure there was PPI as was standard custom in those days. Is this a dead end? Should I invest in £10 requesting a SAR, if so SAR sent to HSBC Coventry or to HFC Bank in Brighton? Later to complain to FOS if we suspect HSBC does have records? Thanks to all for sharing experience.
  10. I forgot to notify them of change of address and stopped deferring so they're now chasing for the full amount of my 1998 loans. I've been a stay at home mum since 2013 so no income at all. They've passed it on to Link Financial which I'm assuming is their debt collection agency. They've said my last deferment ended 2014. Which might be right as I moved that year. They've also said I've breech the terms ie cannot defer anymore and loan won't end at 50 I can't declare bankruptcy or do an IVA. Unless I win the lottery there's no way I can pay this and don't want a ccj. What are my options if any? Thanks
  11. Hey- myself and now ex partner took out an unsecured loan back in 2006 for £20k on top of a mortgage we had at the sametime - all ok - fast forward 1 year he then takes out a secured loan in our names, forged my signature (this is not why I am writing but just trying to give you some background) he told me he would kill himself if I reported him - we split up only after 2 years did I then contact bank and said I didn't sign or agree to this - they wouldn't back down, police wouldn't pursue the property was sold and the proceeds were swallowed up for his secured loan I stopped paying the unsecured loan in April 2013 (when we split up we walked away and paid nothing) I rented out property and we sold this end of 2013 there is nothing on my credit file for this unsecured loan that is now £16k -I was able to obtain a mortgage in 2016 no problems I am now getting letters from a company working for the bank wanting payment of the £16k - I had some correspondence with them back in 2016 and then it stopped - my question is do I have to pay this? why hasn't this been on my credit files?? I hope I have explained properly I know it will be 6 years of non payment in April but as I had correspondence in 2016 would this be statute barred
  12. Hi, I am new to the forum. Thanks in advance for any advice given. Student Loan Has Matured/ Full Payment Due within 14 days letter received from Erudio I am 45 years old and had taken out two student loans(95,96) and one (98) so under the old and new style loans. About 10 years ago I had arranged a payment plan (spread across all 3 loans) with student loan company (I think I was over the threshold to defer but was experiencing hardship). I had set up a standing order which remains in place to this day. When Erudio took over I received letter, calls , statements etc from them but have never contacted or corresponded with them in any way (just figured I am paying something towards the loan and was worried that if interacted with them in any way it would somehow trigger a new agreement or obligation, so just left it at that). I have recently received 3 letters within the last two weeks from them stating that my loan has now matured and full payment is due (aprrox £3600). Only after looking around on forums have I become aware of statute of limitations, but am I correct in thinking that my payment plan still running to student loans company constitutes acknowledgment of the loan? I believe that these payments continue to just beforwarded to Erudio (as I never signed or arranged for the payment to go directly to Erudio, only to the Student Loans Company details I had at the time). I’m wondering why there sending me letter so closely spaced, are they trying scare tactics to get me to contact them? I have other priority debts so do not want to pay this off if there’s a chance I could continue to do it over a longer period. Does it make any difference that I have not acknowledged anything to do with Erudio, accepted calls, responded to letters etc. Any advice is most appreciated. Thanks
  13. Hello, I am looking for help and advice relating to this on-going dispute I have with the Nasty-west. (Edit) Long story so give you the short version. Reclaimed back bank charges before they put a legal stop to it. Tried to reclaim Advantage gold service charges -they denied it Reclaimed ppi on one loan.. They have never reviewed or addressed the three previous loans with ppi on them. I refused to repay the loan until the resolved the ppi- they didnt. Instead they told me to court and won over a technically and obtained a charging order on my house. I have contacted the ppi deparment on 2 occasions for redress to the previous loans with ppi. They don't even answer me. The CCJ they obtained for the loan is an accumulation of the loan, bank account, mis-sold ppi and mis-sold advantage gold service. So as far as I am concerned they are take money from me via shoesmiths that they actually sold fromme. Any help or advice greatly appreciated
  14. Hi Last year I separated from my husband, as a joint debt we had an unsecured loan of £30k from NRAM which we had for years, my ex then decided to go bankrupt leaving me liable for the loan. I paid my half of the monthly amount due for a few months and then just couldn't continue to pay anymore. I wrote to them in December 2016 offering them a full and final settlement figure, which they ignored (this was quite low). The first time I have heard from them since me contacting them in December 2016 was last month they wrote to me to say I still owe £28k. (even though through interest this has been paid back and more!) They are now threatening: *instructing a field agent to review my position *Debt collectors *CCJ *Bankruptcy They have given a time limit for me to get in touch with them. I don't know what to do, I haven't paid in over 1 year now, I live in rented accommodation, I don't own any assets, I have a limited company am worried if they do make me bankrupt then I wont be able to carry on with this. Do I offer them again a full and final settlement offer? I don't have any savings I would be offering this via a third party. Has anyone been sent a similar letter? Does anyone know of NRAM accepting and Full and Final settlement offer? I've heard that when a company sells a debt its usually at 20% - 25% of the amount, is this correct? Should I offer at this % of the balance? As I don't want for it to be rejected again. Any advice gratefully appreciated. Thanks
  15. Hello I am looking for some advice about mortgage style loans from SLC 1997-2000. I deferred successfully up until the year that Erudio took over my account, circa September 2014. As their deferrment form seemed more invasive/complicated, I chose to ignore here I am now, after ignoring default notices, letters transferring my account to Capquest/AIC and PAP letter, Now a CCJ county court claim form. I have followed some guidance on this website - completed AOS, sent CCA request to Erudio and then SAR request to the solicitor. Drysden have written back to say have placed my file on hold whilst we seek our clients instructions they have requested copy documents referred to in my SAR letter. I need to file my defence by the 5th December - do I still need to do this with the solicitor stating they put my file on hold If I still need to file my defence do I just need to say that I took out the loans a long time ago and have requested copy documentation that is not yet forthcoming so that I can review/check what I need to pay? Thanking you in advance.
  16. Good evening all, I took out a unsecured personal loan around 2 years ago with Tesco bank. My financial situation has changed quite a bit in the past 6 months, lost a family member, dealing with depression and anxiety and due to this my self employment businesses sales have plummeted. I got a part time job to help cover my living expenses so i'm trying my best to keep up with all of my payments. My outstanding balance is just over £16k. Monthly payments just under £400. The past 4 months I've been paying late. At the end of every month I end up giving every single penny I have toward this loan payment. Tomorrow I am planning on sending this letter off I found in the forums. https://www.consumeractiongroup.co.uk/forum/showthread.php?387346-Ask-Creditor-to-Accept-Pro-Rata-Payments-**Correct-as-at-October-2013** I was just wondering where I can find a I/E sheet? and do I include this loan payment in that sheet? Also what is considered a reasonable offer that they would be inclined to accept? Is this the best way forward? Thank you in advance
  17. Hi all, in 2008 I took out a secured loan of over £10k from Welcome and within a few years struggled to make the payments. The loan went to Cabot on Welcome's demise and then to Ascent. 2 years ago, instead of consulting this site(!), I started paying Ascent less than £100 a month (don't want to be specific, in case they're on here) and this has brought the amount down. The balance is still over £10k and there is a charge on my property. Having spoken to Ascent, I have asked for a settlement figure and they want and income/expenditure thing (not something I trust, it's just to see what they can squeeze out of you I think) before giving me one. I have offered around £4k. My main priority is to get the second charge removed. And hopefully for a substantial discount or nothing. Any advice from here please?!? I understand now that I shouldn't have paid them anything but as there is still a charge on my property I felt I had to.
  18. I use to work in Kuwait where i took a large loan out. Due to family reasons i had to come back to the UK (Scotland) where i was unemployed for a while. I told the bank this and offered to pay a smaller sum than agreed but keep paying. The bank wouldnt accept this and started sending me letters/emails and debt collector agencies stating to take me to court if i didnt respond to them. Where do i stand on this? Will they sell my debt to UK? Will i have to go to court? Sorry but i dont know who to respond to when it comes to the threats and harassment. Do i just ignore and keep ignoring or what action should i take? I dont want this to effect my credit history within the UK or my house to become an asset which gets tied into this mess. Will it just be GCC countries that i wont be able to fly to or will i have flight ban on other countries? I have to travel a lot with work and dont want to get arrested at airport. Any help advice would be grateful.
  19. Good evening all, I've done a bit of research trying to close accounts which led me to requesting CCA's to Cabot. I sent two for two different accounts which they took off Halifax (1 x CC & 1 x Current Acc Overdraft). I posted the following to them: Dear Sir/Madam Account No: With reference to the above agreement, I require you to supply the following documentation before I will correspond with you further on this matter. 1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement, under the legislation contained within s.78 (1) Consumer Credit Act 1974. 2. A full statement of account. 3. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists. 4. A copy of any other documents referred to in the agreement. I understand that under the Consumer Credit Act 1974 (sections 77-79) , I am entitled to receive a copy of any credit agreement and a statement of account when I request it. I enclose a payment of £1 which is the fee payable under the Consumer Credit Act 1974. I understand a copy of any credit agreement along with a statement of account should be supplied within 12 working days. I understand that, under the Consumer Credit Act 1974, creditors are unable to enforce an agreement if they fail to comply with the request for a copy of the agreement and statement of account. A speedy response would be appreciated to resolve the matter amicably. I look forward to hearing from you soon. Yours faithfully THE LETTERS WERE RECEIVED ON 17TH/18TH JULY AND TODAY I RECEIVED THE FOLLOWING LETTERS: Thank you for your CCA request etc etc... We currently do not have this information on file. However I have requested the relevant details, which include a copy of the credit agreement, statement of account and relevant terms and conditions from the original lender. You have requested a copy of the Deed of Assignment. Please be advised that the DOA is a confidential document between Cabot and the original lender. It does not contain any personal details relating to you or your account and is not available for disclosure. We sent you a Notice of Assignment for your account to your address, which is sufficient to confirm our ownership of this account. Only the courts can request this... Blah blah blah. A couple of things here... I asked for a true copy, they are referring to simply a copy. If they do obtain a copy, is this enforceable? Also is it acceptable what they are saying about disclosing the DOA to me? I don't ever recall being sent a Notice of Assignment, if I did, is this sufficient to confirm ownership and enforceable? I have been currently paying towards what they are claiming, on a monthly basis via DMP. The next payment is due in a couple of days. Should I continue paying or is it advisable to stop until they wholly action my request? Thanks in advance and any help/advice/feedback is much appreciated! I'm looking to get a mortgage by the end of the year so I can get my son into the school I/he wants. Many thanks.
  20. Have a loan with Lloyds which have successfully achieved statue barred ststus. It has a significant PPI cost. Should I start a reclaim? Intend
  21. Hello I wonder if you can advise me. My son has had a loan from Money barn. He picked the car up and its been one problem after another with the car. He has phoned moneybarn to tell them, and they say they have opened a case but he should take it up with the garage. It is 14 days on Wednesday so does he still have time to cancel the loan and if he does should he send an email as well as phone them, he wouldnt have time to send a letter would he? Thank you for any help you can give.
  22. After lots of reading and research, I'm going to attempt to claim the PPI for a loan that I took out with The Associates, before they became a part of CitiFinancial Europe.A I was a student at the time with, two young children aged under 3 at the time. It was the first time I'd borrowed money and I took the loan out to help pay for their nursery fees after a mess-up with my Student finance. So glad those days are behind me now! They have recently paid out PPI for a credit card that I had with them. They stated that they couldn't find any details of the loan but would look at it again, if I sent them documentation relating to my account. I did - I found my credit agreement, a statement of account that showed all the payments that I had made on the account (bar the final one). I also found various letters that showed the Associates account number and the account number when Citi took over. I even have a letter informing me of the "exciting change" of their name change from Associates Capital Corporation to CitiFinancial Europe PLC, on 11 April 2003 Despite all this irrefutable evidence, they will not investigate my complaint any further as they cannot locate my account on their system. As the loan was taken out in 2000, it is out of scope for the FOS. Therefore my intention is to issue a claim through the small claims court. I'm going to need some help with calculations. This is because I have read about 4 different ways of calculating the redress and it's doing my head in! My figures are as follows Loan amount = £1050 Insurance = £400.17 Arrangement fee = 75.00 Interest rate was 3.020% APR 48.8% Any suggestions and/or help with calculations will be appreciated. I've had a stab at it and will post up what I've done shortly. Thanks in advance CAG family!
  23. I have just discovered this site and forums, and fear I have made a terrible hash of dealing with Erudio with regard to my own and my husband's old Student loans (My own: 1 from 1990 (unsigned by SLC) for £420 but due to 9.8% interest (!!!!) now over £800 and really should have been written off had Erudio not been involved; and my husband's: 4 from 1993, 1994, 1995 and 1996 respectively and over £5,000). We had been happily deferring re-payment of these loans over the years until Erudio took over. The first inkling that we had that they had been sold to a bunch of debt collectors were involved were the classic "you are in arrears letters". At this point in our lives we were both suffering from health conditions (I had had a nervous breakdown and have since been diagnosed with an autistic spectrum disorder and my husband has since been diagnosed with IBD) - whether this had an impact on our judgement I don't know. We did initially ignore these, and people were saying definitely not to fill in their deferment forms, so we didn't do that either. We have historically been a fairly low income household, and I have never made any re-payments on my loan , whilst my husband briefly made a couple of repayments.(I cannot remember in what year.) We were harassed on a daily basis by telephone calls- often several times a day. My husband's account was then transferred over to Capquest, which did freak us out a little, I have to admit, never having dealt with debt collectors before. The same situation occurred with the letters and phone calls with Capquest. They seemed to be not taking any action on my account. We sent CCA requests in June 2015, to Erudio and received the copies at the end of July 2015. I complained to Erudio in writing about their tactics, their harassment, and asked them to remove the arrears from the account and to consider back dating deferment . I even took this to the FOS - no joy. I complained to SLC and said my loan had been miss- sold - I think I also took this to FOS - also no joy - I was told that I would have been able to access commercial lending operators!! We wrote to the director of Erudio explaining our situation and please could we just defer!! I believe the response was : Capquest are dealing with your account now - talk to them... At this point I became tired and gave up - they just wanted all the money and there seemed no scope for returning to the good old days of deferment. And it seems our accounts would never be written off now as we had broken the terms and conditions - welcome to harassment for the rest of our lives!! Last year Capquest were still harassing my husband - his mental health has been badly affected by his physical health - and he did not work for several months - he works for himself but did not have the money in his businesses to pay himself whilst he was unwell. I wrote to them and told them to back off in no uncertain terms. Neither of us claim disability benefits, we claim tax credits, which has kept us afloat. It had all gone fairly quiet on the Erudio front until a few weeks ago when a "remedy of account" package arrived with statements dating back to 2015, for my husband's loans. Closely followed by default letters for each loan (1993, 4, 5 & 6). And then last week a letter from Drydensfairfax solicitors which appears to be a letter before action. What is interesting is this : ----------------------------------------------------------------- Full details of the debt are set out below: . The amount owed is £5341.45 and no charges/interest are being added at this stage. . A statement of account is attached. . The agreement this debt relates to was entered into between you and SLC on 9th Dec 1993 and assigned to Erudio on 22 Nov 2013. A copy of the agreement can be requested using the reply form. --------------------------------------------------------------- They have stated that the whole amount relates to the 1993 agreement - in which only £800 was borrowed. The reply form also includes boxes where you can dispute the debt. With regards to my account, I have received the same "remedy of account" statements that my husband has, and, yesterday the same default letter. I believe it to be going down the same route. We do not have the money to pay these loans and are still under the re-payment threshold. I do not know what move to make next - as I understand that now they will never be written off, and I don't know what strategy to employ to deal with this new development. Any advice would be hugely appreciated.
  24. Hi, I have an old Bank loan from the early 2000s that I was making small payments towards until about a year or so ago when I ended up out of work. I think it was with Lloyds but I forget now as I had a lot of debt at that time and paid off a lot of it but not all. The balance is £3,7xx. Having receieved a lot of letters from Cabot since I stopped paying (which I foolishly ignored) I have now received a letter from Shoosmiths saying that :- "your agreement with our client is terminated and our client requires your proposals for payment, in the short term. PLease treat this letter as notice that , unless an agreement is reached within 14 days of the date of this letter, we are instructed by our client to commence court proceedings against you ....." They say their client is cabot financial and the original lender is Prime CRedit 1 s.a.r.l. I am wondering whether it would be too late for me to go down the route of sending them a CCA or such like as although I was making payments for years I'm not sure Cabot ever had authority to collect on the debt, but at the time I was too scared not to make an arrangement with them. I'm not even sure if cabot even had authority to pursue my debt or whether they simply bought it from Lloyds when Lloyds contacted me to say they were writing it off, but I had wanted to make payments anyway. I'm back in work now but struggling each month as I have 2 young kids now. I could start paying again but it would be small amounts each month, whereas the letter suggests they want full payment. I'd appreciate any advice. I went through the whole CCA procedure with an old debt and they never responded and I heard no more about it, but I wonder whether it's too late for that here since I was making payments for a few years. Many thanks.
  25. Hi, myself and my wife have a secured loan with welcome finance but due to financial difficulty and other issues we have had with Welcome we have not been paying it since 2010. We have now received letters to say that the debt has now been sold to Cabot and they now hold all rights to the account. They have appointed Marlin as their managing agent. Does this mean that this account is no longer a secured loan? If it is not, does this mean that welcome never executed the loan correctly in the first place because they could have just gone for a repossession. Forgot to add, this account does not appear on our credit file and has not for over a year.
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