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1st Credit / Lloyds TSB


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Hello. I have been looking at this forum for a while and it has been very useful. I am having some trouble with 1st Credit and thought it best to begin a new thread.

The background is as follows:

- In July 2007 I was contacted by Connaught Collections (on behalf of 1st Credit) about a debt from Lloyds TSB for just over £50,000

- I wrote back to them disputing the debt and asked them to prove the debt. Also sent SARs to 1st Credit and Connaught Collections. Received nothing back from 1st Credit and just a letter from Connaught Collections giving one page of information (name, DOB, addresses, debt amount). No statements or credit agreements were sent.

- From then on there were a number of letters from Connaught and then 1st Credit (and various “solicitors”) chasing the alleged debt and threatening legal action. Responded every time with a letter denying the debt and asking for proof. Periodically received letter offering a generous discount. Again, sent letters denying the debt and asking for proof.

- During middle of April 2010 received a bundle of papers from 1st Credit with some statements for a current account, some screen prints from a computer system that show some other account although it is difficult to identify what the account is. There is also a faxed copy of a credit agreement which isn’t very legible. I have written back, still denying the debt and questioning the information they have sent.

I keep getting phone calls from them even though I have asked them in writing to only communicate by letter. Sometimes the people on the phone get very abusive and shout.

Although I can’t remember the period very well for various reasons, it looks like the £50,000 they allege is made up as follows:

- A loan for £22,000 + PPI cover for around £4,000 (added to the loan balance) giving a total loan of about £26,000. This was I think a consolidation loan for an overdraft that had run up on a current account. Loan was taken out in early 2002;

- The remainder looks like an overdraft that continued to accumulate, although the statements are unclear.

For various reasons I got into trouble. I moved house and then the debts look like they were sold. The last payment on the loan was in late 2002, after which the payments stopped according to the screen prints. From then until late 2005 interest continued to be added to the loan until it looks like it was sold in Oct 2005 (balance £34,000). There is a small payment into the loan account just before it was sold, although this wasn’t by me (it is marked “ccd rebate” on the statement).

I’m not sure what to do or whether they can take me to Court as they keep threatening. I’m not sure whether the loan is Statute Barred. Also, I think the loan agreement may have some issues (although the copy is a fax copy and not very good). For example, is says that the Credit Agreement is regulated by the Consumer Credit Act 1974 even though the total loan (inc. the additional amount added to the loan for PPI) is over £25,000.

Sorry for the long post – just wanted to put as much info as possible. And thanks in advance for any help.

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If there is a clear period of six years (five in Scotland) where you made no payment or written acknowledgement the debt will be Statute Barred and they would not be able to make any legal enforcement.

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Thank you so much for the quick reply. Is this the case even though I have had letters from them and have sent letter back but only to deny the debt (I clearly put in every letter that I do not acknowledge the debt and always refer to the debt as "the alleged debt")?

 

Thanks again

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Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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georgiered1, never take abuse from these people over the phone, next time they shout simply say "im just about to put you on hold while i go for a dump and wipe my derriere with one of your letters" you may laugh but the sooner you make these people realise you don't care the sooner they will stop giving you abuse.

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  • 2 weeks later...

After sending the letter saying that the alleged debt is statute barred, 1st Credit send a letter claiming that a payment was made on the account in October 2007. This is not true, but I suspect that they are referrinbg to a £10 postal order that was sent along with a Subject Access Request that was sent to Connaught at that time. I still have a copy of the SAR along with (1) the postal order receipt, (2) proof of postage, and (3) the letter that Connaught sent in response to the SAR. Additionally, I have a letter from 1st Credit sent after the SAR that shows debits and credits on the debt account with them. This clearly shows no payments.

 

Just wanted some advice as to next steps. Should I ignore the letter as they are clearly grasping at straws, or should I send a letter stating that no payment has been made or asking for proof of the payment.

 

Thanks in advance for any advice.

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Nice try from them, write back and tell them that a SAR does not negate the fact that the alleged debt is Statute Barred. You could enclose a copy of the request statement. ;)

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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If they're trying to collect on a statute barred debt, I'd make a point of complaining to the OFT - citing that the OFT already warned another DCA (MacKenzie Hall) in regard to collection attempts on statute barred accounts.

 

1st Credit also had a warning from the OFT last year (as did Link Financial), and it's time they had some more correspondence with the OFT.

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Subscribing...

"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

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  • 4 weeks later...

I will certainly be making a complaint to the OFT as you have suggested.

 

1st Credit have now sent a letter confirming that the debt is statute barred and that they will be taking no further action and are closing the file. I am so glad that this is over as it has been going on for years. This breakthrough is down to the advice for the people on this site, so thank you all again.

 

It also appears that 1st Credit and Lloyds have put the debt on my credit record as a default (and it has been double-counted as they are both registering the default). They are showing the incorrect default date. What I am doing now is to ensure that they remove this from my credit record.

 

Thanks again.

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Well done! They were really chancing their arm werent they?

 

I dont know if it is the fact that when the debts are sold on that the DCA's arent aware of the SB'd status of the debts or are ignorant of the consequences....although thinking about it only a percentage of people are finding CAG and aware of their rights...they would probably just pay up! (answered my own question there):D

Advice given is my opinion only, I am not a legal or financial expert (far from it).

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Congratulations :D

"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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Well done & make sure they remove the false data from your credit record. As it stands now they are libeling you & if you wanted you could sue them for compensation.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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Indeed, one of them can list a default for a singular debt, but the information contained there has to be correct.

 

I'd go for the sueing - purely because it's Royds TSB, and because it's thoroughly deserved in their case.

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