CL Finance / GE Capital - Yes another one !

[VH200371]

Hi Everyone

 

I am new to the board and I have already learned a lot so thank you very much

 

GE Capital sold my debt to CL Finance in 2008 and I entered an agreement with them to pay £ 33 per month, I increased the payment last year when I could afford to and recently paid an extra £ 350 to pay the money off. Anyway they have totally messed up my credit report by showing me as 6 months in arrears. They told me the payment it has been paid every month on the dot. I fail to see how they can do this. I feel it is unfair of them I already had the same agreement with another big company MBNA and they have marked me down as satisfactory. Why do CL Finance have to be so unfair to their customers?

 

I have made a complaint to the FOS, I have sent them evidence that MBNA have the same agreement yet show me as satisfactory. Thing is I only owe 1.1k now and I can afford to pay it off within a couple of months now if I leave myself short

 

So do I pay it all off and continue the complaint and is there anything else I can do? I am going to fight these people all the way.. I cannot get credit because of them. Does anyone have a clue how long this is on your file for? Also they dont seem to want to update my file with the extra money I have sent - surely that is against the law

 

Their customer service agents definitely didnt go to charm school !!!

[Tingy]

If you will be in a position to clear the debt within a couple of months why don't you try a F&F. Do it carefully making sure that you don't pay apenny until you have everything agreed fully in writing from them stating it is in F&F, that any sum outstanding will be written off and not sold on to a third party for collection and that your CRF will be amended to show settled satisfactorily.

[VH200371]

Thanks Tingy ..What is an F&F ? Sorry to sound dumb

[Tingy]

Sorry! Full and Final settlement. Basically if you're near completing paying the debt they might accept a reduced sum to get it out of the way, but you need to protect yourself in the process to make sure anything written off cannot be sold on to another DCA to collect, and also that your CRF comes up smelling of roses. Obviously this all has to be in writing beofre you hand over the payment.

[VH200371]

I will give it a go, these people are not the most helpful in the world though!

 

Thank you very much

[UnmoderatetheNet]

Hi Everyone

 

Thing is I only owe 1.1k now and I can afford to pay it off within a couple of months now if I leave myself short

 

Their customer service agents definitely didnt go to charm school !!!

 

The very best advice I can give you is NEVER leave yourself short its totally unnecessary, pay what you can afford nothing else do not give in to the pond life.

 

I’m guessing you’re talking to them on the phone as well, you’ve seen how pointless this is, the second piece of advice is communicate by letter, be firm and understand you hold all the cards, not them the quicker you understand the balance of power the quicker you can get your life back in order.

 

If you are in a position to make a fixed and final offer say 25% and ensure that you get assurances that this will clear the debt and also impact the credit file, its worth doing some research on f&f on this site.

 

If you have to talk them on the phone and I’m against it, be firm and show them who is really the boss and its not them.

 

Something like:

 

You: I’m willing to pay 25%.

CL: No we would want a higher amount.

You: This isn’t a negotiation. You either accept the amount or my payments go down to £20 a month due a change in circumstances, you choice and I want it in writing.

 

Good luck

 

Caggers, We are going to see much more of the heavy handed tactics from our friends at CL now that cattles has been saved.

[jimbo45]

Hi there

actually if you read the small print it hasn't really been saved --it's going to be wound down gradually. It shows that this is a VILE business model and hopefully as consumers become increasingly aware on the pitfalls of getting into debt and the realisation that we CAN often live decently without credit then the future for these types of companies is BLEAK.

 

http://www.yorkshirepost.co.uk/businessnews/Cattles-avoids-administration-as-creditors.6708487.jp

 

We have to accept the fact whether we like it or not that some people in ANY POLITICAL SYSTEM will always be either wealthier or more privileged or both.

 

I'm sure if I had just a fraction of Mr Abramovitch's (Chelsea FC owner) money I could do all sorts of things -- but IT'S NOT GOING TO HAPPEN so just try and do the best you can.

 

Since joining CAG I've been totally amazed at the sheer EVILNESS of the whole Debt collection business which seems to thrive on attacking people when they are at their most vulnerable. You couldn't even MAKE up some of the horror stories you read about on these forums.

 

Whatever you might think about companies such as SHELL and MICROSOFT for example at least they conduct themselves in a "reasonable" manner even if to some people their profits might be bordering on the Obscene.

 

At least they don't charge the nearly 3,000 % interest (Yes thats no typo THREE THOUSAND PERCENT) that companies like WONGA do and IT'S STILL LEGAL.

 

 

Cheers

jimbo

[PGH7447]

UnModeratethe net - "Caggers, We are going to see much more of the heavy handed tactics from our friends at CL now that cattles has been saved. "

 

I hardly call what hapened to bovine inc getting saved, but I know what you mean, I would not be suprised if more sh*te come out of the woodwork with this bunch of ner-do-wells

[UnmoderatetheNet]

UnModeratethe net - "Caggers, We are going to see much more of the heavy handed tactics from our friends at CL now that cattles has been saved. "

 

I hardly call what hapened to bovine inc getting saved, but I know what you mean, I would not be suprised if more sh*te come out of the woodwork with this bunch of ner-do-wells

 

Respect PG8-)

 

What worries me is the need to recover the loan book quickly under increased pressure, its never gonna be good for consumers

[VH200371]

Thanks for all the replies, it is good to know that people are on my side. I have had sleepless nights about all of this and recently I decided to put myself back in control.

I am going to do anything it takes to stop these people. what surprises me is that the larger companies have treated me well, as long as I paid the agreed amount they put my credit file as satisfactory. I show that I am trying my best to get out of debt by paying aittle extra every month. I only recently realised that if a complain goes to the FOS and gets to second stage then the debt company have to pay out nearly £500 win or lose. CL have sent me a letter expected me to back down but they will have a fight on their hands because I wont rest. Hopefully then I can come on here and let people know either way.

 

If they genuinely wanted to help people like us they would accept the higher payments to reduce the montly arrears on the report but they wont, all I got was if you dont pay the full amount we are not doing anything.

[VH200371]

UnModeratethe net - "Caggers, We are going to see much more of the heavy handed tactics from our friends at CL now that cattles has been saved. "

 

I hardly call what hapened to bovine inc getting saved, but I know what you mean, I would not be suprised if more sh*te come out of the woodwork with this bunch of ner-do-wells

 

Cattles have been saved? sorry I am new and trying to get my head around the jargon :o) - Ignore just found out who it is..... Thanks

[UnmoderatetheNet]

Cattles own your debt.

 

Yeh sorry about that kinda hijacked your thread, won't happen again8-), let us know how you get on and you need any advice just post, we are here to help.

[jimbo45]

Hi there

CL Lewis are part of the same outfit as CATTLES which trade in human misery by basically "buying" debts for PENNIES in the pound from the OC and then trying to get the debtor to pay the FULL AMOUNT oftern with HUMUNGOUS charges and Interest added -- often illegally.

 

The last thing people need when often through no fault of their own is NASTY THIEVING IMMORAL companies like this trying to extort even more.

 

CATTLES themselves were a "Sub Prime" lender -- lending to people that generally would have problems paying ANY debts so really shouldn't have been lent the money in the first place.

 

Of course CATTLES were unsustainable in the original business model after the banks went belly up.

 

The whole EVIL practice of selling on debts etc and making money out of people who have got themselves into serious difficulty should be BANNED which is great that sites like this exist so people can do everything possible to get these leeches of your backs.

 

I really cant understand how solicitors such as COHEN can really work for these types of outfits and then sleep in thie beds peacefully knowing that they might just have pushed another person who gets utterly scared of this stuff into Suicide.

 

I thionk if I saw these guys crossing the street my Car might get a sudden case of break failure.

 

If this whole business was ever managed COMPASSIONATLY by the ORIGINAL CREDITORS they would get MORE money back and the whole business would operate properly without some really nast characters getting involved such as our own favourite B.C

 

Most people believe iot or not DO want to come to some sort of arrangement but the sheer INFLEXIBILITY of the whole system especially in these days where people's income can change rapidly at short notoice making the sort of Long Term agreements the creditors seem to want is IMPOSSIBLE - especially as more and more people become self empoyed often with NO INCOME for lengthy periods.

 

So well done the CAG and do everything legally possible to stop some of these really VILE companies in their tracks.

 

Cheers

jimbo

[UnmoderatetheNet]

I really cant understand how solicitors such as COHEN can really work for these types of outfits and then sleep in thie beds peacefully knowing that they might just have pushed another person who gets utterly scared of this stuff into Suicide.

 

My snake has no ears and no balls. How does he smell?

 

Like a Howard Cohen Solicitor.8-)

 

Okay its partly my fault but lets stop with the cattles comments and stick with the OP's original question and keep this thread open to further relevant comments. Thanks people

[VH200371]

Thanks very much for the info, I wasnt aware of all of that, this site has given me so much information..

 

You know all I want to do is get myself out of debt and start living my life again, these people treat you like you are low life. Makes you wonder how perfect they are... Firm believer in what goes around comes around..

[PGH7447]

again off topic, but look at the acs law threads to see what happens to these fools