Rockwell DCA

[Despairing Stu]

Hi,

I have today received a letterfrom Rockwell with the headline "Final Notice Before Action" this is about a debt that my business (limited company) had in respect of a £12K loan - they are chasing a personal guarantee of£20K.

Can they obtain a Judgment order or does it have to be Lloyds? They are due to phone me this afternoon as they called yesterday but i was out. They are asking for a payment - Should i pay them??

This has been going on for a cpl of years now and is taking its toll on my health as i have now been diagnosed as having a heart problem that they seem to think is brought on by stress.

Any help or advice is appreciated.

[impecunious]

Hiya

 

Just a couple of initial thoughts:

 

You're under no pressure to ever talk to DCAs on the phone. Keep everything in writing (you then have a clear paper trail).

 

Have you CCA'd Lloyds/Rockwell to ascertain whether they still have the original loan agreement? if you haven't done this yet, send them a CCA request letter (can be found in template letters) and enclose postal order for £1.00. Don't sign the letter, just print your name. They have 12 +2 days to sent you the agreement. Failure to do so means that you can then put the account into dispute - and you don't have to pay them a penny until they can produce the documents.

 

Check to see if there was PPI on the loan. If you don't have the original paperwork you can send a SAR request to Rockwell - £10,00 postal order - and allow them 40 days to provide the documents. You will then be able to see if any unlawful/unfair penalty charges, etc has been added.

 

Just take one step at a time and it will become more manageable. You are definitely in the right place to get as much help, support and advice as you need. We've all been there, etc. etc.

 

DCAs can't take you to court unless they've "bought" the debt from Lloyds. If they're only acting on behalf of Lloyds to request payment, their powers are zilch.

 

If they do phone you, don't go through any of the security questions with them, just keep repeating that you want everything in writing, then hang up. If they continue to harrass you, there's template letters you can send off.

 

Remember, one step at a time. You don't need the stress. Being on here will give you the knowledge and advice you need to take control.

 

Really, DCAs regularly overstep their authority and mispresent themselves in an attempt to intimidate and scare you into paying. There's plenty you can do, so please don't stress! You'll get lots of good advice.

 

Impecunious!

[Despairing Stu]

Impecunious,

Thankyou for your support.

Before Rockwell were chasing me, i had the pleasure of being harrassed by wescott's who i presume sent it back to Lloyds who now have sent it to Rockwell. Back then i did CCA lloyds and i had a "Shortened version" of a personal guarantee showing my sig. Do you think i should do this again with it now being with Rockwell - who tell me they are acting on behalf of lloyds.

Incidentally i may be able to offer a payment of £3.5K as full/final settlement, would it be wise to let then know this or do you think they will laugh it off as the original loan was £12K and the rest was made up of an overdraft and £1K credit card?

What will happen if i ignore Rockwells demands?

Any help is gratefully appreciated.

[Halibutt]

I don't think you'd do any harm by sending a CCA request to Rockwell - at the least, it would give you a bit more breathing space.

Do you know if the "shortened version" that Lloyds sent was enforceable? You could post a copy here (with all personal info/reference numbers/bar codes removed) and people will be able to advise.

 

From what I've seen and read, I'd say don't offer a Full & Final settlement figure until you know that the debt is being correctly and legally pursued.

Even then, it's best not to offer your upper limit as F&F as they'll probably decline - you can then negotiate between the figure they're demanding and the figure you are able to afford. Many say that it's best to try offering 10% of the amount currently owed and see what the reaction is. That's up to you though and again, others may be able to advise better.

 

Rather than ignoring Rockwell, the CCA should shut them up for a while, as would the "Only in writing" letter template.

 

Do remember that a CCA request is not relevant for an overdraft, but for a loan agreement - loan/credit card, etc. it's a viable option.

 

Good luck!

[Stigman]

When you send the CCA to Rockwell, make sure it is sent by recorded delivery so you have a reciept that the CCA request has been delivered.

 

Rockwell will only have very limited data, if you need to send a SAR request, make sure you send it to the Original Creditor.