Interest on debts

[bluestwo]

Just a quick question-

 

Can debt collectors add interest?

I'm just checking a old debt for a credit card which I think might be s/b or nearly, and by looking through some letters (I don't have them all) but have noticed that the debt is still rising one letter from 2006 is just over £1000 the most recent letter says around £1300.

 

Thanks

[spamheed]

Unless it is stipulated in the original agreement, DCA's cannot add interest or any other charges to a debt.

 

Howebver, if the DCA is acting for the OC, then since the debt is still within ownership of the OC the original T&C including interest rates would apply

[bluestwo]

Thanks for the quick reply, So if it s/b and I send them a letter do you think they will stop adding interest or would they carry on forever.

 

Oh and on another point don't no if this is of any interset to anyone but a known doorstop lender have started buying debts and are sending the callers out to knock on peoples doors and demanding payment if they can't pay they are giving them a loan to pay it back that way. I no someone who works for them and has just started to do this.

[PriorityOne]

Either it's statute-barred or it's not. When was the last payment/written contact from yourself?

 

Perhaps you should tell your friend that he would be breaking OFT guidelines by suggesting loans to people already in debt.... and that doorstep collectors like himself can be reported for trespassing and harrassment.... ?!

[spamheed]

Thanks for the quick reply, So if it s/b and I send them a letter do you think they will stop adding interest or would they carry on forever. If it's statute barred it doesn't really matter what they do now does it?

 

Oh and on another point don't no if this is of any interset to anyone but a known doorstop lender have started buying debts and are sending the callers out to knock on peoples doors and demanding payment if they can't pay they are giving them a loan to pay it back that way. I no someone who works for them and has just started to do this.

 

 

That is why they are called doorstep collectors, this is what they do, however, apart from begging for money, they have no rights whatsoever and as P1 quite eloquently points out, it would appear that your "friend" is on a hiding to nothing with his new tactics....quite literally should they knock on the wrong door (mine for instance)

[PriorityOne]

Or mine....

[bluestwo]

I can't find all the paperwork I seem to have all the statements the last amount paid was in dec 02 the balance then was around the 500 mark the next bit of imformation is from 06 from a dca and it had shot up to over £1000 but i'm not 100% sure if I made a payment after dec 02.

 

As for the other bit I agree with you but they think they are above the law so let them get on with it they are just hoping people will agree with it to get them of there back

[PriorityOne]

It sounds like your debt was sold on to a DCA around 2002, but if they're not chasing you at the moment.... there's no real need for you to do anything about it.

 

If/when they do get in touch, make a CCA request at that time.

[bluestwo]

They are chasing even found me a my new address within 6 months if I send the cca request and its not quite sb will they then decide to go for a ccj even after all this time.

Thanks for your help

[PriorityOne]

If you include the words I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY within the wording of the CCA request, then it protects you from re-starting the collection clock, so to speak. It also needs to go off by rec. delivery... keep the receipt.

 

Are they chasing by 'phone or in writing.... and who are "they"?

[spamheed]

If the debt is SB then they can effectively "go forth" however, if the debt is not SB yet, then requesting a CCA would be a good move as it invariably takes an awful lot longer than the statutory 12 days to find the document, add to this the issue of unlawful charges and you may find that this matter could take a long time to resolve.

 

on the subject of a CCJ, a CCA request and counter claim for unlawful charges would kill them dead, I really wouldn't worry too much until you've got reason to do so. they use the language that they do to have maximum effect on you and hopefully scare you into paying

[bluestwo]

I was a Providian then was passed to cabot (who I think bought it because every thing since then says client cabot) then to scotcall then to ruthbridge then to mackenzie hall They just send letters the usual stuff

[PriorityOne]

Mack Hall are the bottom feeders... so you don't have much to worry about. They tend to chase statute-barred (or nearly) accounts in the hope of getting money from people.

 

As it's passed through so many DCAs, the chances of anyone finding a CCA now are very, very slim... so you can send a request off without worrying too much....

[bluestwo]

Thankyou so much its nice to have a bit of fun after years of misery so I will get it sent and will let you no what they say

[PriorityOne]

Thankyou so much its nice to have a bit of fun after years of misery so I will get it sent and will let you no what they say

 

Don't forget to include the wording I mentioned earlier on your request... and send by rec. delivery. Chances are they might not even reply to you...