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    • I've looked up Multiple Encashment Fraud. When they put the chargeback amount back into my bank account, which they did the day I made the chargeback, I spent the cash over the next couple of weeks. I did this because I assumed I would win the chargeback due to the fact that I did everything required to win it. So me spending that cash, according to them is Multiple Encashment Fraud. They are saying I fraudulently made a chargeback so that they would put that amount back into my account so I could spend it, and basically rip the bank off.
    • dca please.?   Barclays would have marked the A/c Defaulted on or before sale, and issued a default notice a dca debt buyer cannot issue a default notice    send Barclays an sar.   the A/c was opened whilst resident in Scotland that means the debt is statute barred and extinguished,, dead gone parrot. though that has no relevance to a credit file.    
    • scan it all up to one multipage PDF read upload carefully   I suspect its the usual stuff they troll out for vanquis card debt those  application forms are not a credit agreement    lots of previous Lowell claimform threads here to read that explains why.   dx  
    • In late 2014, I received correspondence from a DCA acting on behalf of Barclays, pursuing a student overdraft of around £1k from 2003. I hadn't used this account in many years, well over six, and it is my belief (though, in full honesty,   I can't actually remember, and can't prove anything) that it was closed a couple of years later in around 2004/2005/2006 (and it wasn't on my credit file in 2014), and the overdraft transferred to RBS (an account also closed so long ago that it is long since gone from my credit file. I certainly don't recall using it after 2004, and it was quite common then to transfer student accounts/overdrafts between banks.   I emailed the DCA, stating that I didn't acknowledge the debt, that it would be statute-barred in any case, and requested an original credit agreement. None was forthcoming,   after some back and forth, I invited them to issue proceedings if they felt they had an enforceable credit agreement. They did not respond.   I am currently looking at applying for a mortgage, and have noticed that whilst this account doesn't appear on Equifax or Experian, it is on my TransUnion file, showing as set up in 2003 and defaulted in 2015.   Does anyone have any advice as to what I should do? The 2019 Doyle case might make my contention that it was statute-barred somewhat shakier, though, equally, I haven't heard anything about it in over five years,   I cannot believe that, if the account was not closed/settled in the mid-2000s as I believe, that Barclays would not have issued a default notice before 2015. Does anyone have any advice as to what I should do?   I want this off my credit file, even if the account wasn't closed in 2004, I believe that Barclays/its DCA are trying to pull a fast one by recording a default in January 2015, but given that neither party has any records with which to validate their belief/position, it hardly seems fair that I pay out for something that either doesn't exist or ought to be statute barred? A further point is that whilst it is Barclays, the account was opened at a branch in Scotland (where I lived/studied), where I believe that the Limitation period is five years, so, even if it transpired that the default was legitimately in 2015, would the matter now be statute barred anyway? Or would it be six years given that I now live in England?
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This company has more lifes than a cat!!

 

According to yesterdays announcements the board has put a proposal forawrd for the company to be bought for a measly £5million, if succesfull the company would then be owned and run by a ''charitable trust' WTF.

 

Long and short appears to be that if the company isn't sold in 12months it would be put into liquidation which then means its a devils own job recouping any debts still outstanding howvere if bought by this supposed charitable trust it can be run down for however many years to recoup all outstanding monies. The AGM is at the end of the month when the sharholders have to vote on the situation, a 75% approval is needed to agree the proposal and if so they will get a huge return of 1p/share....saving grace is that this company was worth £3 / share just over 18months ago!

 

See anouncement below:

 

RNS Number : 9240M

Cattles PLC

02 June 2010

 

2 June 2010

Cattles plc

Possible offer for Cattles plc ("Cattles")

As has previously been announced, Cattles has been in discussions for some time with representatives of its key financial creditors concerning a consensual restructuring of its liabilities.

One of the options being discussed with those representatives includes a proposal under which a newly incorporated company, formed and managed by a corporate service provider and ultimately owned by a charitable trust, would make an offer to acquire the entire issued share capital of Cattles (which would be effected by a shareholder scheme of arrangement).

Given the existing deficit in shareholders' funds and the significant losses Cattles' financial creditors will incur, Cattles would not expect any payment to shareholders to exceed 1p per share. Any such offer would be likely to comprise solely cash consideration.

However, there can be no certainty that any offer will ultimately be made or as to the terms or timing of any offer. The making of any such offer is subject to a number of matters, including obtaining all necessary approvals.

A further announcement will be made when appropriate. A copy of this announcement will also be made available on Cattles' website www.cattles.co.uk by no later than 12.00 noon (London time) on 3 June 2010.

Rule 2.10 of the City Code on Takeovers and Mergers (the "Code")

Rule 2.10 of the Code requires the announcement of the number of shares in issue of Cattles. Cattles confirms that it has in issue 526,066,902 ordinary shares of 10 pence each. The ISIN for the shares is GB0001803666.

For further information, please contact:

Cattles plc

Margaret Young, Executive Chairman 020 7269 7252

Lexicon Partners

Matthew Lindsey-Clark 020 7653 6000

Financial Dynamics

Paul Marriott 020 7269 7252

Lexicon Partners, which is authorised and regulated by the FSA in the United Kingdom, is acting exclusively for Cattles and no-one else in connection with any offer and will not be responsible to anyone other than Cattles for providing the protections afforded to clients of Lexicon Partners nor for providing advice in relation to any offer or any other matters referred to in this announcement.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securitie

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Just as an afterthought whos betting that this new ''charitable trust'' will have many of the same directors currently employed at Welcome......

 

Also if they somehow manage to turn this company around in a couple of years and put forward new business strategies with procedures in place to begin lending again they could sell it for many times there initial measly £5 million investment....shocking situation.....

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how many different dc s does catles own?

does this company have other trading names?

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they own lewis collections - who like their parent company also made a loss last year. theres was only - £5million though. They also own shopacheck which may be sold of by itself as a going concern as its the only arm of the company that is profitable

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hi i havea wee question,dont know if im psting this in the correct place though. i got a letter from lewis recovery saying i owed 9000 then 2 weeks later saying they would accept 4000,the bebt is with welcome car finance, so i sent a letter requesting the CCA but got a letter back saying " please be advised that we are not the creditor in this matter. The creditor welcome finance and we are merely intructed to act on their behalf to recover any outstanding balance due. the letter i wrote is below. thanks for reading. my email is casper27@hotmail.co.uk if anyone can help thank-you :)

 

Dear Sir/Madam

 

Re:− Account/Reference Number 4563210025897412

 

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Tradinglink3.gif Regulations 2008 (CPUTR).

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

We look forward to hearing from you.

 

Yours faithfully

Mr A N Other

Edited by caspergav

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This Is Crap

 

Who Ever Is Asking You For Money Has The Legal Obligation To Suply The Cca

 

Keep That Leter Safe

 

Cattles/welcome/lewis Are All In The Same Group

 

Account Now In Official Dispute

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What exactly can i do now though? lewis said i had to write to welcome finance for the cca but it clearly states on the letter

 

"If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties"

 

Do i write to welcome if i manage to get an address or just leave it?

 

Thanks Gav

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I Would Ignore Now

 

Perfect Defence To Any Claim

 

Cretins

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ok thank-you, wont they keep sending me letters for money though?

 

or basically if they want to take me to court then to let them and say i asked for a copy of the cca? if i done that then would they not say well why didnt you write to welcome if lewis recovery said to do that.

 

Gavin

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Does anyone know what is happening in the Welcome CONfederation? They are still harrasing me over 1 missed payment that was their fault!

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The staff in a few more branches have today been told they're to be closed.

 

Slowly, slowly catchie monkey.... the end crawls nearer

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Reality check is needed!

Even tho branches maybe closing and staff are getting laid off it would be exceptionally fool hardy to think loans are gonna get written off and your not gonna get chased for monies owed. For a very long time I thought mistakenly that I had a good case with regard to mis stated APR and how it was calculated. Sadly its done monthly 1.8% and now Im being pursued by their solicitors `Salans`.

So be very cautious is all Im saying may not be news people want to hear but they aint just gonna roll over!

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I totally agree it would be foolhardy to believe loans will be written of because quite simply they won't(dont know who said they would just dissapear??!!)However what is likely to happen is when the expenditure of the company becomes more than the intake of monies gathered on outstanding loans its at this point the company will be sold on and at which point significantly reduced settlement figures should be available.

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HA!!! Sold on... may be difficult to achieve, especially if the Citi buyout does not go ahead. If they won't touch them, nobody will.

 

I see administration ahead. Where the administrators will want maximum recovery in the shortest space of time. So yes, significantly reduced Full and Final offers might be the best hope for many.

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However that is not going to be soon enough for some of us who have their solicitors breathing down our necks! I had a letter from `Salans` last week and Ive written back to them yesterday asking what they consider to be a "substantially reduced settlement final lump sum payment" would be?

Currently I owe £18k +:mad::mad::mad:

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do you know which offices are losing staff, as i long to see the edinburgh monkeys returned to the Zoo!

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However that is not going to be soon enough for some of us who have their solicitors breathing down our necks! I had a letter from `Salans` last week and Ive written back to them yesterday asking what they consider to be a "substantially reduced settlement final lump sum payment" would be?

Currently I owe £18k +:mad::mad::mad:

 

£1.8K is the best they could hope for if they sold on the debt.

 

Perhaps they might take a realistic view of any offer over and above that. After all... Welcome need cash NOW. Not in dribs and drabs over the course of decades.

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Hopefully the one in Laindon is going. I tried to offer a final settlement and the most they could manage was a £1000 off!

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Billy Goat - Welcomes normal protocal is when an account gets passed to solicitors the settlement figure gets reduced to 50% of the outstanding debt - in your case 9K which is still a large amount. How many payments have you missed, how much are you behind and is the loan secured / unsecured?

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nioclik - this highlights welcome stupidity, at branch level the most they can reduce the debt by is 35% but should you ''choose'' to miss 6 payments your loan can then get transferred to solicitors where the reduction is generally increased to 50% - therefore penalising the people who pay on time every month. I would never condone or suggest anyone does this but i have heard of people not paying for 6 months (not blowing the money that should have been used to fund the loan but keeping it to one side), waiting for the loan to be passed to the sols, offer to be made of f50% and loan to be paid of in F&F. If the offer wasnt forthcoming the money placed to one side would have been used to bring the account back upto date. The mayor downside to this is though is you have to be prepared for the constant calls and letters and the payment (or lack off) markers on your credit file and then be prepared to reclaim all the charges they would have applied!

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However that is not going to be soon enough for some of us who have their solicitors breathing down our necks! I had a letter from `Salans` last week and Ive written back to them yesterday asking what they consider to be a "substantially reduced settlement final lump sum payment" would be?

Currently I owe £18k +:mad::mad::mad:

As per Fester Tester I would suggest an offer of £2k. Salans will write back asking you to make a more realistic offer. You ignore them. They will write again asking for a response. You continue to ignore them. It all goes quiet (2 months now).

 

At least that is what has happened to my partner. She does, however, have a stack of things against Welcome (they cannot find agreement, deficient default notice followed by termination, charges, etc). In fact her offer to Salans was for them to treat the amount already paid (about 16% of a secured loan) as the full and final rather than offering them any more. I am not advising that this is the course of action you should take, that choice has to be yours. I am just informing you what has happened to her.

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Personally I am just waiting for this corrupt company to die. I will continue to pay (which seems to go up each month) & hope that it will all just end up with welcorupt in the mire!

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The loan is secured. I really dont think they will roll over & take £1.8k.

I have missed 6 payments. I have paid 12 monthly payments @ £326.22 per month which is £3914.64 paid to date. I have written back to `Salans` and asked them what is a considerably lower one off lump sum payment to settle the account. I got that letter in the post yesterday to them I havent quoted any figures myself to them.

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If nothing else, I guess their reply will give you a basis for negotiation.

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Hi Billy - when you said your loan was for 18k was that inclusive of welcomes interest rate or is that solely the amount of the loan? - if solely the loan i think you'ld be lucky if they would do the norm and offer you the std 50% reduction as you would have only paid 2/3 of the original amount out and no interest back. I know its not great news - have you tried entering into a repayment scheme with salans or are they now after the total amount outstanding or nothing?

 

Also is their equity in your property, if not and you can provide the solicitors with a couple of valutions plus mortgage outstanding details to show that if they did repo they wouldnt recoup their losses you may have slightly more wiggle room in regards to what they would accept

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 3190 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

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