Full & Final Greed!

[Dibsthefrenchie]

I have made a full and final offer to AK, my offer crossed with a special offer settlement letter from them, which was just over £300 more than my offer.

It was more than I can afford, so I waited for their reply and hoped they would accept my offer, but no, they actually wanted 3x the amount stated in their offer sent out a couple of days earlier and stated that they believed it was a fair amount for a full & final, they are flippin greedy!!

I have replied to their letter, but it looks as though I will simply have to continue making token payments, for the rest of my life

[rebel11]

Hi dibs

 

Hopefully they will see sense, because the economy is where it is, prices rising, they are going to get a lot less money in, thats a fact, they need to wake up.

 

'A bird in the hand is worth two in the bush'. Not at AK Head Office, they'll be raising chickens soon.

[mr_jones]

As a consequence of their greed i would now be reducing repayments to £1 per month. if they dont like it then tough. they will then get nothing at all.

[rebel11]

Also I'm not sure how long you've had the debt, but maybe it's been paid back many times over.

[Dibsthefrenchie]

Thank you for the replies, I just needed to vent my frustration!

I am sure that they have already recouped more than they originally paid for the debt, but the idea of reducing the payments is a good suggestion.

I'm looking forward to their reply to my letter, not that I expect them to concede the point or even accept my offer, but the explanantion should be interesting.

[Bazooka Boo]

Who cares if the accept your offer or not, they don't get to choose unfortunately, your the one who is in control and your the one who tells them what you will pay and when you will pay, seriously, £1 a month end of, what was this for anyhow?

[Dibsthefrenchie]

It's for a Comet loan and a relative has offered some money to clear the financial burden, there doesn't seem to be an end in sight with this debt and I really don't want to be making token payments for the rest of my life, sadly I have little choice!

[havinastella]

It's for a Comet loan and a relative has offered some money to clear the financial burden, there doesn't seem to be an end in sight with this debt and I really don't want to be making token payments for the rest of my life, sadly I have little choice!

 

Wrong, you have lots of choice!

 

If AK have the debt it's probably unenforceable anyways!

 

Have you had everything checked out. Was there PPI on this?

 

Are they adding charges?

 

x x

[Dibsthefrenchie]

Hi Havinastella, AK started chasing this debt in 2004 and I have been making token payments ever since.

I requested the agreement and that has all the correct t&c's, there is no ppi and AK are not adding interest or charges at the moment, but it will take approximately 37 years to repay the whole amount at the current rate!

Dibs

[intend]

As suggested I would be inclined to reduce payments over time, citing inflation eroding your disposable income. No real counter argument to that. When it gets to a £1 i,m sure you won't care how long it takes to pay off.

 

Intend

[Bazooka Boo]

TBH if you have been paying this since 2004 I would be inclined to think you have paid your dues now, check your credit file, it should be clear by now?

 

If it isn't on your CRF then you owe nothing, stop paying, have you been receiving an annual statement of account informing you of all the payments you have made and what you are allegedly still owing?

 

Six years and they still haven't taken any legal action? Just a tin pot DCA sending out playground letter threats? I don't believe you owe them anything, check your CRF if it's not on there stop paying, you've been a cash cow for long enough.

[Dibsthefrenchie]

It's no longer on my CRF and I haven't received any statements.

 

I am quite tempted to follow your suggestion Bazooka Boo, however, is there anything to prevent them taking court action for the almost 5k+ that's still outstanding and what possible defence could I have?

[Bazooka Boo]

Dibs, remember you have been paying this for the last 6 years, if they wanted to take any legal or court action then they would have done this 5 years ago, there is probably something wrong with the account, it could be full of charges, fees, or PPI? Or they have no paperwork, why not test the water and drop the payments to £1 a month?

 

Does AK actually "OWN" this account or are they simply collecting on behalf of their client (comet)??

 

What was the original amount and how long did you originally agree to pay this over?

[Dibsthefrenchie]

Thank you for your help with this Bazooka Boo, it is appreciated and you have prompted me to dig out all the paperwork, (tons of threats and offers), on this account and look at it again, but I just can't find anything that would provide me with a defence.

 

It was a purchase with credit from Comet, the finance was provided by Time Retail Finance and I had two loan plans with them repayable over 60 months.

 

I sent an SAR to Time and checked through the statements for any charges added, they amounted to £44, there is no PPI on the account.

 

AK purchased the debt late 2003, I then made payments totalling £720, found CAG and requested a copy of the CCA, the agreement is in order, the only paperwork missing is the NoA, they have never sent that, so will chase that up again.

 

I also requested a statement in 2007, which provided a summary of the payments made, I also receieved a statement in 2009, but have not received any since then.

The total amount paid to AK since they purchased the debt is £1150 and there is just short of £5000 still outstanding.

 

They have made endless threats of adding all accruing interest charges and taking court action, whenever a payment is a couple of days late reaching them.

[Nishikigoi]

£5000 is a considerable amount so look carefully at your current situation (particularly your CRA file) if your in a financial hole it might be better to blow them off and let them try their worst, however if your buoyant financially then look at damage limitation to your CRA file.

 

With an absent NoA you could place this in dispute....

[Bazooka Boo]

If your credit file is of no real interest to you, and TBH why would it be? Then forget about it.

 

This doesn't appear on your CRF, therefore there empty threats of applying all accrued interest & charges are complete bowlarks, you do not have any agreement in place surrounding this, the agreement you did have has now been terminated, therefore they cannot add anything.

 

As for the threat of court action? Pull the other one, if they were serious about getting this money they would have done this the moment they were given the account, at the very least they would have filed for your BR, instead they have strung you along for the last 6 years and you have been paying them their tea & coffee account and their annual X-mas party.

 

Statements of account should be sent annually, if they haven't then demand them to do so, or you will withhold all payments.

 

From what i can remember Time went to the wall years ago?

 

This stinks, I going to have a mooch about and see if I can drag anything else up..