Default

[kate2222]

In 1999 I stupidly took out a loan of £7000 for a now ex partner. I paid the installments for around 2 years, we then split up and I paid £20 a month. The company at the time sent a guy out to talk to me about my finances and they accepted the £20. This was around 2005. I have paid the £20 each month DD without fail. During this time I received umpteen letters from the debt company who must of bought the debt saying I had to increase or they would take me to court, I told them on numerous occassions I could not afford any more, but the letters kept coming. Then they sent solicitors letters from Cope's. The debt co. now is Arrow Finance, I cannot remember the company name when I fisrt took out loan but it did change to Transcom.

In Nov 2008 I wrote to Transcom requesting a copy of the original loan agreement and a further letter enclosing a £10 postal order for a SAR request. They returned the PO and both letters saying this is something they did not do, but they would freeze interest! Like a pillock I just left it and have carried on getting letters from them, I have ignored them but carried on with the £20. The debt about 2 yrs ago was around £8000 now its around £6600. But it's on my credit file as a default and is stopping me from getting a mortgage.

Any help would be gratefully appreciated. Thanks

[silverfox1961]

Thread moved to Debt Collection Industry

 

Hopefully help should wend it's way soon

[kate2222]

thank you

[twofoot]

Did the original company default you? it falls off 6 years after the original default. In either case I'd wite to whoever put the existing default and tell them that this debt was defaulted by the OC back in 2001 and as such them placing a new one is against the rules. If you fish around you will find the relevant rules which you can enclose. You can also remind them they are in breach of CCA request and if they do not fulfil that request you may withhold further payments.

[kate2222]

Hi, no looking on my credit report, Arrow Global Finance put the default on in 2007.

[silverfox1961]

I think that as two and a half years have passed since you last did your requests, it may be better to start from scratch and forget the previous requests.

 

As the account is now with Arrow Finance, I would send it to them. When an account is passed from one creditor to another (as opposed to passing to a DCA) all relevant info should go too. Arrow are now the creditor. They have the responsibility to supply

[harrassed senior]

Hi, no looking on my credit report, Arrow Global Finance put the default on in 2007.

 

I agree with 'starting over', but the default should have been registered in a timely manner, which means within 6 months of the default occuring. I note you say that your SAR was returned, but this is a legal request and their response is not acceptable. You could send a new request informing them of their legal obligations to do this. What you need is the date of the original default as Arrow should have taken that over and kept the original date.

[kate2222]

Would I be able to get a copy of the default notice? I presume Arrow issued the default as it is them named on my credit report?

[cashins]

I agree with 'starting over', but the default should have been registered in a timely manner, which means within 6 months of the default occuring. I note you say that your SAR was returned, but this is a legal request and their response is not acceptable. You could send a new request informing them of their legal obligations to do this. What you need is the date of the original default as Arrow should have taken that over and kept the original date.

 

And if they again outright refuse - straight to the Information Commissions Office which I think would be interested to see such a letter.

 

Regarding the default date, it could be that Transcom did an MBNA, did not default the account for a long period as you were in a payment plan. Again such an argument will not wash with the ICO 'As it places you in a worse position than if you had not attempted to pay the debt' (and still are).

 

David

[kate2222]

Thanks David, I do feel as If I am in a worse position now. I have thought about stopping the DD as it does not seem to be doing me any favours. I was also thinking about writing to them to see what figure they would settle at.But I am sure I have done this before (can't remember or find any letters) and they would not consider. If I manage to get a SAR from them, is this a record of all my payments to them etc

[kate2222]

also will the default come off my credit report 6 years after it was registered, so that will be about July 2013?

[silverfox1961]

I am a little confused.

You say Arrow Finance took this account over then you say Arrow Global Finance. Can you confirm which please

[kate2222]

Sorry its Arrow Global Limited

[silverfox1961]

Ok, Arrow Global are debt collectors and as such won't have much info about this debt but you should be sending a CCA request to them to ensure they have the right to be chasing this debt. They may send the request back but we have ways of dealing with that.

Your SAR will have to go to whomever is the original creditor (transcom??) If they refuse to supply, you can report them to the Information Commissioner

[kate2222]

Thanks silverfox, it was Transcom I sent the SAR to back in 2008, they returned it with the £10 PO with a letter (typical can;t find, but I do have my returned letters and they are stamped with Transoms date received stamp) their letter said something in the lines of, we do not deal with these kind of requests!

[kate2222]

ps I sent them a CCA as well and that was returned back to me too!

[kate2222]

I have not sent any CCA or SAR to Arrow

[kate2222]

I remember now, the original loan was with Chatham Finance, then it went to Transcom and then Arrow.

[brokebutnotbeatn]

SAR Chatham Finance and CCA Arrow

[silverfox1961]

Any company that holds personal data about you has a duty to disclose that information on presentation of a valid request (and payment)

Did they say why the wouldn't deal?

I would still resend the SAR to Transcom. They should have your data

 

If Arrow cannot supply the agreement within 12+2 working days of receipt of your CCA request, you may withhold payment (if you wish) until they do supply.

 

Debt collection Agencies do not normally place defaults. What they do is, when a debt is sold, the DCA replaces the original creditors name with their own so it looks like Arrow defaulted you but it's more likely the way I just described.

 

As has already been stated, this default should have been placed shortly after you fell into arrears which certainly wasn't 2007. When (if) you get back your account history from your SAR, this should show when the default was placed.

[kate2222]

Thanks Silverfox I will re send the SAR to Transcom and send a CCA to Arrow. The only reason Transcom gave was something on the lines of 'it is not our company policy to do this'.

[silverfox1961]

I would love them to try that line again. The ICO would have a field day

[silverfox1961]

This is the only address I can find

 

Transcom House

Unit F

The Courtyard

Alban Park

Hatfield Road

St Albans

Herts

AL4 0LA

 

Mark it for the attention of the data controller

[silverfox1961]

It looks like Transcom are also Debt collectors so what you really want from them is who the original creditor was as well as the data they are holing

[brokebutnotbeatn]

Sorry - did Chatham Finance become Transcom or did Transcom just start collecting on the debt? The SAR should go to the original lender i.e. Chatham Finance