Inside a DCA!

[The GodMother]

he has been busy.

[Ladidi]

Does anyone if onthebrink is going to be back?

I have received a letter and would his/her opinon beforeI proceed as to what I should do?

Many Thanks

[car2403]

OTB was online yesterday - try sending a PM?

[onthebrink]

Hi all,

 

I have jumped in and out this week but haven't had time to put together a long response.

 

Sorry for that.

 

I've had a right nightmare at work with the auditors. Bean counters, who needs them . You would think they would be happy I made my company a six figure investment profit, but no, they needed 100% accountability on every investment. Grrrrrrr.

 

Anyway, I was asked by someone if it would be a good idea to put their house into Trust to prevent a charging order. . I must say it did make me smile and I think a quick response is required. I'll get a cup of tea and be back.

[The GodMother]

welcome back OTB and sorry to here about your fun with the auditors.

 

Could you also look into my question and answer it when u have 5 minutes. Ment to ay post number 425.

[onthebrink]

OK. Putting your house/assets into Trust does not in the majority of cases protect it from your creditors. Particularly if you still live in it. And in the worse case the creditor is likely to bypass a CCJ and petition for bankruptcy knowing the living Trust will be seized as an asset and sold. Also, setting up a living Trust fund is costly and requires an adminstration exercise that would make your eyes water (particularly the submissions to HMRC), which is not something the majority reading this can afford or be likely to undertake. If you are thinking about attempting this then you really need to seek professional advice (clearly not stating, 'i want to protect my house from my creditors' can you help set up a Trust fund for my dog).

[onthebrink]

welcome back OTB and sorry to here about your fun with the auditors.

 

Could you also look into my question and answer it when u have 5 minutes. Ment to ay post number 425.

 

I'll have a look now

[onthebrink]

Just a question.

 

Why do DCAs sent you a letter saying we are taking u to court in 7 days unless you make immediate payment when this is there first contact?

 

I have just recieved on of these letters for a debt that is at a address that does not and never existed due to there not being enought numbers on the street i live on, there were 50 houses and they say it is for number 1,312.

 

This debt also dates back to 2000 to 2001 and it is defently SB. they are also claiming it belongs to a company that we had no contact with at the time. They are claiming for Npower and gas and we only had txu electric as there was electric at the property and we were not allowed to change suppliers as it was in our tenancy.

 

This is a shot in the dark. The debt is an old one and they have no information (they have most likely bought it for 2p in the £) and so they jump to the end of the debt cycle (court action with no further reference to you stuff) in order to gain a response and payment .

 

Quick, get you cheque book out.

 

Just send them back a standard 'prove I owe it with the evidence you will use in court' letter, and be prepared for a couple more nasty 'we play hard ball' letters.

 

These type of DCAs (bottom of the pile) work on a hard line fast payment approach and rarely bother with court action. However, they do tend to send a 'visitor' to get you to pay. Tie them up in legalities of debt ownership and they will be gone.

[blue4ever]

Hello m8 nice you see you back

[onthebrink]

Hello m8 nice you see you back

 

 

Sorry to answer PMs here, but if you asked then I'm sure someone else needs to know.

 

Why do DCAs pass my debt on?

 

Basically because they have run the debt cycle and the chance of recovery is nil. As I said in an earlier post, they are working on % of debtors and turnover of accounts. If the supervisor has determined they won't get paid it will be passed on.

 

 

If I move address can the OC/DCA find me?

Not if you move to the moon. . At some point in the future your going to go looking for debt again (sorry credit ), and they link you with two key pieces of information - you date of birth and you place of birth (the chances of two joe bloggs born in Hackney on the 25 Feb 1905 is rare!), your address is only the first port of call.

 

DCAs have a number of routes to find you -

 

Spoof websites offering credit (you get rejected but they have the info)

Mobile phone contracts

HP agreements

Mortgage applications.

On-line marketing surveys

Electoral register

[vengeancedemon]

Fascinating reading, the whole series !

 

So, on the assumption that DCA sends the account off to a.n.o, usually after a CCA request or similar and therefore default of this, to DCA1, subsequent DCA's are trying it on?

[onthebrink]

Fascinating reading, the whole series !

 

So, on the assumption that DCA sends the account off to a.n.o, usually after a CCA request or similar and therefore default of this, to DCA1, subsequent DCA's are trying it on?

 

I wouldn't say 'trying it on' but it does raise the question, 'why didn't they take me to court to get a CCJ?'

 

Sometimes, a DCA will pass it to another DCA because they know that what the debtor is offering as a payment (say £5 month) will be accepted by the court if they went for a CCJ, but that £5 doesn't cover the cost of adminstration of the said CCJ. In this case the debt is passed on as 'uneconomical to pursue'.

[The GodMother]

Thank OTB.

 

I thought it was the case and so did a few others but it is still annoying as u may be able to understand.

[JonCris]

OTB when you mentioned the DCA's various means of finding debtors in post 487 you forgot to mention the offer by the CRA's of cheap or even free credit reports

[onthebrink]

OTB when you mentioned the DCA's various means of finding debtors in post 487 you forgot to mention the offer by the CRA's of cheap or even free credit reports

 

Agreed. But to be fair the list is endless.

 

They can also find out through 'financial associations'.

[Rahl]

If a supervisor decides they aren't going to get paid , what makes subsequent dca's think they are going to get paid instead ? If you have gone through the cycle on dca (a) with no result, surely dca(b) can only go through the same cycle with a similar no payment made either and therefore a waste of time and money buying it from dca (a) ?

There is nothing dca(b) can do that dca(a) hasn't already tried. In the end it just becomes a game ? There is no payment made , no real end result, just a lot of time effort and money wasted and a small hit on the rain forest population in cycling it around the dca's.

[stargazeratdawn]

Hi Onthebrink. Welcome back, and I've been away too so, just catching up on everything. Hey...Have you thought of doing a Martin Lewis and starting your own website? I'm not saying for one minute that you should pull away from this site...god forbid ! But, it seems like the obvious next step for you OTB?...Just an idea...From little acorns etc...

[onthebrink]

If a supervisor decides they aren't going to get paid , what makes subsequent dca's think they are going to get paid instead ? If you have gone through the cycle on dca (a) with no result, surely dca(b) can only go through the same cycle with a similar no payment made either and therefore a waste of time and money buying it from dca (a) ?

There is nothing dca(b) can do that dca(a) hasn't already tried. In the end it just becomes a game ? There is no payment made , no real end result, just a lot of time effort and money wasted and a small hit on the rain forest population in cycling it around the dca's.

 

ALL DCAs have an arrogance that makes them believe they are better than the rest, and their 'methods' and staff are more capable than the rest. When they get a 'new' account they actually believe they will succeed where others have failed

[onthebrink]

Hi Onthebrink. Welcome back, and I've been away too so, just catching up on everything. Hey...Have you thought of doing a Martin Lewis and starting your own website? I'm not saying for one minute that you should pull away from this site...god forbid ! But, it seems like the obvious next step for you OTB?...Just an idea...From little acorns etc...

 

Thanks for the thought, but i just LOVE it here ;-)

[JonCris]

Agreed. But to be fair the list is endless.

 

They can also find out through 'financial associations'.

 

Yeah! but the most current gag is providing 'free' reports by scaring the hell of of people that their ID's gonna be stolen unless they do something about it

[JonCris]

ALL DCAs have an arrogance that makes them believe they are better than the rest, and their 'methods' and staff are more capable than the rest. When they get a 'new' account they actually believe they will succeed where others have failed

 

You would think realising they are further down the food chain would tell something wouldn't you

[andrew1]

 

Sorry to answer PMs here, but if you asked then I'm sure someone else needs to know.

 

Why do DCAs pass my debt on?

 

Basically because they have run the debt cycle and the chance of recovery is nil. As I said in an earlier post, they are working on % of debtors and turnover of accounts. If the supervisor has determined they won't get paid it will be passed on.

 

 

If I move address can the OC/DCA find me?

Not if you move to the moon. . At some point in the future your going to go looking for debt again (sorry credit ), and they link you with two key pieces of information - you date of birth and you place of birth (the chances of two joe bloggs born in Hackney on the 25 Feb 1905 is rare!), your address is only the first port of call.

 

DCAs have a number of routes to find you -

 

Spoof websites offering credit (you get rejected but they have the info)

Mobile phone contracts

HP agreements

Mortgage applications.

On-line marketing surveys

Electoral register

 

 

 

If this is true then this is a disgrace, can you name and shame a few for us so we can give them the Cabot Fan Club treatment? - Don't know what that is? - ask Ken Maynard

 

Sarah

[PriorityOne]

If this is true then this is a disgrace, can you name and shame a few for us so we can give them the Cabot Fan Club treatment? - Don't know what that is? - ask Ken Maynard

 

Sarah

 

I've just joined "The Cabot Fan Club".... they introduced themselves as the new "owners" of an unenforceable account at the week-end. Deep joy...

[onthebrink]

If this is true then this is a disgrace, can you name and shame a few for us so we can give them the Cabot Fan Club treatment? - Don't know what that is? - ask Ken Maynard

 

Sarah

 

 

cus4loans.co.uk

 

their not even subtle:

 

 

'Cus4Loans.co.uk is a website operated by The Slice Ltd. The Slice Ltd is licensed under the Data Protection Acts. Registered Company Number: 02860905 Registered Office : 25 Ormside Way, Redhill, Surrey. RH1 2LW. Data Protection Number: Z8414369

The Slice is a marketing and IT systems organisation and does not offer any financial advice. Think carefully before taking out a loan.'

 

Give it a try, you'll be lucky to get a response

[onthebrink]

They maybe a 'media & marketing' organisation but they SELL DATA to financial institutions.