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    • I think it will be very helpful to let people know more detail about these debts. Who is the original creditor? How much was the debt for? When was the debt incurred? When did you last make any payment or acknowledgement of the debt
    • Hello and welcome to CAG. Thank you for the information, it will help the guys to advise you. Please don't do anything until they've had a look and possibly asked questions.   While  you're waiting, you have other VCS airport threads for Liverpool and Southend, possibly others. It would be worth a read to understand how they operate.   Best, HB
    • What part of never use email Never communicate with a powerless dca hasnt been understood?   If you want to do anything which you should as it also protects your backdoor if the debt were to be sold and a DCA were to litigate as it stands..send our sb letter from the debt collection section of our library   Thats goes to the oc as they still own the debt
    • Good afternoon - I've received a parking charge notice from VCS - grateful for any advice - do I ignore/appeal? Can VCS enforce the restricted zone in this way, covered under bylaws (I think)?   Driver didn't notice signage, vehicle wasn't actually stopped by double red lines (as pictured)   1 Date of the infringement 25/11/19 2 Date on the NTK 29/11/19 3 Date received 4/12/19 4 Does the NTK mention schedule 4 of The Protections of Freedoms Act 2012? No 5 Is there any photographic evidence of the event? Yes 6 Have you appealed? No 7 Who is the parking company? Vehicle Control Services (VCS) 8. Where exactly Bristol Airport - on "privately operated access roads", just outside car park barrier, not car park itself - stopped for 5 seconds to pick someone up, didn't pick them up and drove away when the camera van arrived. Operate under IAS   Thanks in advance!  
    • Hi,    Thanks for any advice I receive in advance.    If I am honest I haven't really cared about my credit file until recently and am just looking for some advice after signing up. I was in a stupid financial position a few years back, i was a fairly typical teenager who didn't care about debt etc but fortunately I have grown up and am looking to improve this.    I have three defaults on my credit file, from February 2014, June 2014 and May 2015.    My question is about what happens when these are removed. I understand that the defaults are removed after 6 years?   But let's take the February 2014 one as an example. In a couple of months time the 6 years will be up on this. At the moment on my credit file it has a default for every single month since that date. In February, does the whole thing get removed or just the first "little red default". So will it actually take 6 years for all these defaults to come off or does the whole debt get removed?   Thanks S
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OFT publishes emerging evidence in credit review

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The OFT has today published a summary of research and emerging evidence from its high-cost credit review. The summary includes the results of a consumer survey, initial results from behavioural economics research, a review of international policy approaches to high cost credit, and evidence on the impact of the recession on competition in the market.

The research showed that the majority of consumers understand what types of credit are 'high-cost', but a significant number - over a quarter for some products - said they were fairly or very dependent on high-cost credit in their day-to-day life. Consumers using high-cost credit said that the speed at which money could be accessed was the main reason they took out these loans.

 

There was limited evidence to show that those who access high-cost credit shop around for better offers or different products. Around one-third of consumers using high-cost credit would still use the product if repayments were a third higher. The research found that information on the total repayment amount is more helpful than an APR in understanding the cost of short-term credit. The evidence showed that some consumers do not always understand APRs and may sometimes use them incorrectly when making comparisons between very different products.

 

The research looked at the variety of policy approaches taken in other countries to address concerns about high-cost credit. International case studies examined by the OFT and Europe Economics (a research consultancy) showed that simple interest rate caps have been circumvented by firms increasing their fees and charges, whilst caps that also limit charges can be circumvented through restructuring the transactions or cross-border lending.

 

The OFT is inviting comments on the research in order to test the completeness and robustness of the evidence it has gathered. It expects to issue a final report next year setting out conclusions and recommendations.

 

Links here:

 

The Office of Fair Trading: OFT publishes emerging evidence in credit review

 

http://www.oft.gov.uk/shared_oft/reports/consumer_credit/oft1150s.pdf


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HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

YOU CAN NOW COMPLAIN TO THE OFT ABOUT THEIR CONDUCT UNDER THE CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008.

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