Debt Revenue Services - WDA

[Harry05131]

Hi All,

 

Received an email today from WDA saying the following:

 

Dear Harry

 

Account Transferred to Debt Recovery Agency

 

Your account is now being handled by Debt Revenue Services who are acting on our behalf.

 

All future communication should be made with Debt Revenue Services and any queries

sent to Wage Day Advance will be passed onto them to deal with.

 

We recommend that you contact them without delay to prevent any further action to your

account.

 

---------

 

The amount that WDA have said i now owe is £590.10 although in reality it should be £408.50 (Included in that figure is original loan + 1 months interest)

 

What is my first port of call now?

 

Thanks for your help

[Bazooka Boo]

My this has attracted a lot of guests!

 

Let me go get on my desktop and do some research on WDA, I take it they're a pay day loan shark?

[Bazooka Boo]

OK, when did you take this out, and how much?

 

Did you extend this at all? How many times?

[huggy41]

interest

2814.2% APR

[Harry05131]

OK, when did you take this out, and how much?

 

Did you extend this at all? How many times?

 

Took the loan out beginning of January:

 

£300 loan

 

£88.50 Interest

 

Rolled it over twice on 31st January & 29th February so paid £88.50 twice = £177.00 in charges.

[renegadeimp]

Ok. Lets look at specifics here:

 

Your account is now being handled by Debt Revenue Services who are acting on our behalf.

 

All future communication should be made with Debt Revenue Services and any queries

sent to Wage Day Advance will be passed onto them to deal with.

 

We recommend that you contact them without delay to prevent any further action to your

account.

 

So this DCA is only acting on behalf of the creditor. This means they don't own the debt and as such have no legal rights whatsoever to the debt apart from asking you to pay. They are not solicitors so they cannot even advise the creditor on legalities, such as recommending court action.

 

What im finding strange is why the OC will not correspond about this debt with you and is forcing you to deal with a company that cant do anything about the debt. I'm going to do a bit of reading on OFT debt collection guidelines and a few other things and get back to you on this part.

 

 

 

As for your repayement amount, forget the DCA, and email/send record delivery letter to the OC and ask them for a full breakdown of the debt. You need to get them to include specific charges and detail what those charges were for.

 

You also state rollovers. In general terms, this means you effectively took out a new loan. You borrowed more, paid the old one back, and now owe the new one plus interest. It's not illegal but it is a very very shady practice and PDL's miss sell this under different guises.

 

Send the letter demanding a full and complete breakdown of the debt, and post it up here. Do NOT let them give you the run around with them trying to say it will cost you. It is NOT a SAR you are after, you just want the breakdown of the debt so you know what you are paying. I wouldnt be surprised at all, if theyve added unfair charges/fees to the debt, and when you finally get correspondence from them, they or their dumb DCA start to give you discounts.

[merlin100]

interest

2814.2% APR

 

Thats quite reasonable for a Loan Shark:jaw:

[lookinforinfo]

Be careful with WDA, I see that someone alleged that they had put through an unauthorised payment and cleared his bank account.

[Harry05131]

Ok. Lets look at specifics here:

 

 

 

So this DCA is only acting on behalf of the creditor. This means they don't own the debt and as such have no legal rights whatsoever to the debt apart from asking you to pay. They are not solicitors so they cannot even advise the creditor on legalities, such as recommending court action.

 

What im finding strange is why the OC will not correspond about this debt with you and is forcing you to deal with a company that cant do anything about the debt. I'm going to do a bit of reading on OFT debt collection guidelines and a few other things and get back to you on this part.

 

 

 

As for your repayement amount, forget the DCA, and email/send record delivery letter to the OC and ask them for a full breakdown of the debt. You need to get them to include specific charges and detail what those charges were for.

 

You also state rollovers. In general terms, this means you effectively took out a new loan. You borrowed more, paid the old one back, and now owe the new one plus interest. It's not illegal but it is a very very shady practice and PDL's miss sell this under different guises.

 

Send the letter demanding a full and complete breakdown of the debt, and post it up here. Do NOT let them give you the run around with them trying to say it will cost you. It is NOT a SAR you are after, you just want the breakdown of the debt so you know what you are paying. I wouldnt be surprised at all, if theyve added unfair charges/fees to the debt, and when you finally get correspondence from them, they or their dumb DCA start to give you discounts.

 

Thank you renegadeimp.

 

Is there a template letter available for me to send?

[renegadeimp]

No need for a template. Simply write to them and ask for a full breakdown of the monies owed. Tell them that any and all payments will be withheld until you receive the breakdown.

 

Keep all correspondence short, simple and straight to the point ( unless its a formal complaint)

[victoria_siempre]

 

Keep all correspondence short, simple and straight to the point ( unless its a formal complaint)

 

I love the last bit renegade; I always write my complaints in the obfuscatory style of their response.

 

x

 

v

[renegadeimp]

Same here I make sure to add every last thing i can think of. The last complaint i wrote ( to my previous bank) weighed in at 5 A4 sheets in 12 point text )

[Harry05131]

Have emailed for now to see if i get a speedy response (hopefully)

[renegadeimp]

Youll probably get the run around. I'll be surprised if you dont.

[Harry05131]

Hopefully some sort of acknowledgement, although i am not holding my breath.

[Harry05131]

This is what i sent;

 

Dear Wagedayadvance

 

 

 

On receipt of the below email advising me that my account is now being handled Debt Revenue Services on your behalf.

So they actually have no legal rights to the debt whatsoever apart from asking me to pay.

 

 

I have emailed your company and tried to propose an amicable repayment agreement but my email has been

totally disregarded.

 

 

For the outstanding debt of £590.10 i would please like to request a full breakdown of the debt

including specific charges and detail of what each charge is for.

 

 

I look forward to a response.

 

Thank You

 

 

 

Received a reply from WDA:

 

Dear Harry,

 

Unfortunately we are no longer dealing with your account, it has been passed to a debt collection agency, please contact DRS on 0151 545 1500 to make arrangements for repayment.

 

Regards

-------

 

So WDA have totally dodged the question regarding asking them for a breakdown of the debt!

[renegadeimp]

Ask them if the DCA is acting on behalf of them or have they bought the debt.

[Harry05131]

Will do!

[renegadeimp]

If they say its been sold, ask them why they didnt provide a notice of assignment.

[Harry05131]

Ok. Appreciate all the advice.

[Bazooka Boo]

TBH if that is their attitude then I wouldn't have anything to do with them.

 

Ignore their rather childish third party clown, and simply enter into their complaints procedure, once it has fallen outside of the 8 week time limit they have to rectify your complaint (which it will do reading that sorry email reply from them) then you can escalate it beyond their control.

 

Ignore DRS, they are a trivial fly in the ointment and only used to try and distract you.

[victoria_siempre]

Hi Harry

 

I always include the following to a DCA bandit which they appear to dislike:

 

' 43 Regulation 36 of the EU Directive Regulations.

16. ASSIGNMENT OF RIGHTS

here any rights of a creditor under a consumer credit agreement (for example the right to be repaid the money) are sold or transferred to a third party, notice of that assignment must be given to the borrower as soon as reasonably possible, except in the circumstances described below. This requirement applies to all regulated consumer credit agreements other than agreements secured on land. This requirement is in new section 82A of the CCA43.

 

t is the responsibility of the assignee (the creditor acquiring the rights) to ensure that notice is given. However, he does not have to give notice himself, but can agree with the assignor (the creditor assigning the rights) that the assignor will give notice instead, depending on what is more sensible in the circumstances. It is important, however, that notice is given as soon as reasonably possible and in a way that is clearly understandable by the borrower.

 

otice does not have to be given where arrangements for servicing the credit are unchanged as far as the borrower is concerned. For example, if Creditor A sells his rights under a credit agreement to Creditor B but Creditor A still collects the borrower’s repayments in the same way and is the only point of contact for the borrower on matters regarding the agreement, notice does not have to be given.

 

here notice has not been given, and arrangements for servicing the credit do subsequently change, the borrower must be informed of the assignment on or before the date that change happens. Again, this must be readily comprehensible to the borrower.

 

The definition of “creditor” in section 189 of the CCA applies to this new requirement on assignment of rights. This means that when an assignee purchases debts (or otherwise acquires rights under a credit agreement) it also acquires certain obligations to the borrower including the duty to comply with CCA requirements (such as the rules on statements and notices and other post-contractual information). The assignee becomes the creditor under the agreement. This ensures that essential consumer protections under the CCA cannot be circumvented by assigning the debt to a third party.

 

71'

 

Although it it is only guidance it is EU guidance which underpins my rights in the Human Rights Act should a DJ perversely rule that my protections under the CCA cannot be circumvented. I stress that this is not mainstream CAG line but I have not yet engaged with an enemy that chooses to test this.

 

x

 

v

[Harry05131]

Well i received a reply from WDA regarding DRS:

 

Dear Harry,

 

The Collection agency are acting on behalf of WDA, you can contact them to set an arrangement up to repay the balance on your account.

 

Regards

[Harry05131]

I have also received an email from DRS regarding the debt: Note that the figure has now risen again :s

 

Dear - Mr Harry

 

Our Client: Wage Day Advance Ltd

 

Our ref: 447~~~

 

Client Ref: ~~~~~~~

 

Balance Outstanding: £614.10

 

We have been instructed by the above named client to contact you with regards to your unpaid account.

 

As a matter of urgency, please call Mark Loughlin at DRS on 0151 545 3403 & quote your account number 44~~~

 

What I'm i best saying in a reply to DRS?

 

Thanks all!

[renegadeimp]

Tell to take a running jump. They have no legal rights apart from the ability to ask you to repay. Go through the OC.

 

See post 21