HSBC/First Direct Managed Loan? debt sol to Phoenix/Marlin.

[B3rty]

Thanks Curlyben....thats great will get that off tomorrow...just as a matter of interest on the point about adding additional costs whats the situation because if this was a legit debt they would have added £730 on £4300 in three months....I am suspicious that they were trying to take it over the £5000 and out of the small claims track if they went to court?

[B3rty]

Just bumping this up because I can't clarify the issue of DCA adding to the debt and the only thing I can find is CCA s.93, and the OFT collection guidelines

 

.....this may be of interest to other folk any thoughts?

 

93 Interest not to be increased on default

The debtor under a regulated consumer credit agreement shall not be obliged to pay

interest on sums which, in breach of the agreement, are unpaid by him at a rate—

 

(a) where the total charge for credit includes an item in respect of interest,exceeding the rate of that interest, or

 

(b) in any other case, exceeding what would be the rate of the total charge or credit if any items included in the total charge for credit by virtue of section 20(2) were disregarded.

 

 

Office of Fair Trading

7

Charging for debt collection

 

2.9 Charges should not be levied unfairly.

 

2.10 Examples of unfair practices are as follows:

a. claiming collection costs from a debtor in the absence of express

contractual or other legal provision

b. misleading debtors into believing they are legally liable to pay

collection charges when this is not the case, for example, when there

is no contractual provision

c. not giving an indication in credit agreements of the amount of any

charges payable on default

d. applying unreasonable charges, for example, charges not based on actual and necessary costs

e. applying charges which are disproportionate to the main debt.

[B3rty]

Haven't been on here for ages and most of my accounts are dropping off the credit files. Just had a letter out the blue from Arrow to say they have taken assignment from Phoenix for one that’s got a couple of months to go don’t think its statute bared for a year or so. I thought all these fun and games had finished years ago however just want to be prepared as I know these are the lower life of the DCA world. Has anyone had a similar situation and what’s their letter process? I can challenge this quite easily and if it went to Northampton would get to local court as I have kept all my correspondence and have a letter to say they cant pursue however just want to get prepared and who knows maybe have a little fun.Berty

[BRIGADIER2JCS]

Arrow have quite a portfolio of ''old''

and dodgy accounts at the moment.

Have you checked CRA files yet.?

[B3rty]

Yes nothing showing there yet although the default was nearly six years ago so all they could do would be show that date

[BRIGADIER2JCS]

So the default nearly 6 years ago say in a September given

that the SB date could be up to 6 months prior to that??

[B3rty]

Yes default date is Oct so falls off file then. It's actually come off from the credit file since the last one I looked at and I assume will re appear with these clowns.....the SB will be later because I attempted to make payments following default for about a year.

Edited May 18, 2012 by B3rty

[BRIGADIER2JCS]

No that cannot happen 1 debt, 1 default date, there can

only one default date they cannot place another, my guess

is this already SB.

[B3rty]

Sorry my assumption is they can report to CRAs using the same default date. I edited the post above before I saw your reply ....the statute bared will be later because I made payments after default.

 

If debt is not on your files now it can't be put back.

[B3rty]

Hey that's interesting is that a fact. If the debt is off the credit file it can be put back on?

[BRIGADIER2JCS]

Hey that's interesting is that a fact. If the debt is off the credit file it can be put back on?

 

It CANNOT BE PLACED AGAIN , a default entry stays on file for

six years then is removed paid or not.