HFO Services- advice needed on how to pay off this debt once and for all

[findingmy_s]

Hi, I am looking for advice on behalf of my dad on how to deal with 2 debts that were bought by HFO services.

 

This has been ongoing for some time and my dad has managed to pay of all of his other debts via payments plans etc and now only these two are left.

 

The difficulty is that since setting up a payment plan with them he never receives any communication from them

- no statements etc so he has no idea what the balance is or how much interest they have applied etc.

 

After a lot of harrassment over the phone which led to changing phone numbers etc

and sending lots of letters asking them to only communicate in writing a payment plan for each loan was set up.

 

The original debts were for Morgan Stanley/Goldfish) and (Monument).

 

These debts were bought in 2007.

 

The first payment plan was set up in Dec 2008 but had to be changed as the direct debit kept on being taken out on different days

and my dad gets paid weekly so sometimes the payments bounced (which led to another phonecall and letter and another charge).

 

The last statement received for each was in Feb 2010 which was when the 2nd payment plan was set up

where the monthly payment would be taken by standing order.

 

According to this payment plans the final payments should be taken on 20/03/14.

 

Ideally we want to find out the balance of the debts today and how much interest has been applied,

check that it is correct and then pay these debts off in full.

 

Please can anyone advise on how best to proceed?

[twoman]

Don't worry the HFO fan club will be along soon.

[Bazooka Boo]

When were these accounts first taken out?

 

When was the last payment made to them?

 

How many DCA's have been chasing this?

 

Keep EVERYTHING in writing, if they ring laugh and hang up.

 

What does your Dads credit file say?

[Bandit127]

I am assuming that your Dad is currently paying, so no possibility of statute barred.

 

A CCA request will get you a statement balance without ringing any bells about having some extra money to pay off the debt. Make sure you request a full statement of account. A CCA request might also get you a non compliant response, in which case the DCA will turn the volume down considerably.

 

A non compliant response will also get you a better response to a full and final settlement offer. Care is needed to follow teh protocol, but this could get the debts settled for a lower amount. You need to know if your Dad will consider this, or whether he wants to pay fully.

 

More info on F&Fs here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

[dx100uk]

who adding charges?

 

HFO are one of the biggest spoofers on the dca circuit

 

i would CCA them for both.

 

to be honest

 

i smell a cash cow here.

 

to me

 

it sounds like your dad has been spoofed into paying these debt

when there is no need too.

 

if they've not been sending regular [better than annual]

statements

 

then they should have.

 

this again is a sign he has been spoofed

 

STAY OFF THAT PHONE

no DCA has ANY legal powers !!

 

pers i'd SAR both original creditors

 

and

 

get a copy of his CRA file.

 

see below.

 

dx

[Bandit127]

DX's advice is always very good, but it is kind of 200 mph stuff. (Sorry DX - but to a newcomer it is that. Not that long since I was one).

 

Spoofing is claiming money when there is no legal entitlement. (I am digging in to a mortgage shortfall I suspect I am being spoofed for).

 

Annual statements are a legal requirement for an agreement under the Consumer Credit Act 1974, where interest is being charged. It could be that they are not charging interest - as far as I understand it there is no obligation for statements if so.

 

You need to sound your Dad out about his willingness to challenge these debts. He could possibly claim back unfair fees, challenge the legality of the accounts and end up paying a lot less than HFO thinks he owes.

 

However, if he is an old fashioned "man of honour" the satisfaction of paying in full will be worth more to him than (what he might see) as cheating them of a few quid.

 

I was brought up by "men of honour" and know the value in that.

 

My point is - DX's and the rest of us Caggers can give good advice on various strategies. But we will need to know what sort of strategy your Dad wants to adopt.

 

Oops - looks like I blathered on. Soz.

[findingmy_s]

We have the original CCA for both debts from when we first found out that HFO had bought these debts in 2007. What should I do with these? On one of them the small print isnt really legible.

 

I just tried the CRA noddle but my dad doesnt have any cards anymore so not sure how to get the report as cannot complete the verify your ID step?

 

Note they dont contact my dad in anyway since setting up the payment plan, no letters, no calls, no statements.

[findingmy_s]

Hi Bandit,

 

My dad wants to pay what he owes - but would be happy to challenge any unfair additional interest that HFO have added. He has managed to pay off 4 similar debts with other companies that have worked with him to agree a fair payment plan. Lloyds for example froze the interest at the point of the payment plan commencing on the agrrement that they would receive an agreed amount per month until the debt was paid in full.

[BRIGADIER2JCS]

You will need to get the £2 statutory credit report by post instructions are on the CRA websites, Experian or Equifax are quicker and more up to date.

[broken arrow]

Subbing

[coledog]

Morning

[DonkeyB]

Did you get the ‘agreement’ copies through a CCA request?

 

Time for a strongly-worded letter and another CCA request, I think... they CANNOT add any charges to the account unless they are allowed for in the original agreement (although HFO have claimed in the past that once an agreement is terminated, its conditions don’t apply any more – they like to have their cake and eat it).

 

As mentioned above, they are obliged by law to send you annual statements. If they don’t they CANNOT charge interest (and I bet they have done at some point).

[findingmy_s]

I will requesr statutory credit report by post this week.

 

DonkeyB - I did get the agreement copies through the CCA request.

[BRIGADIER2JCS]

Did you get the ‘agreement’ copies through a CCA request?

 

Time for a strongly-worded letter and another CCA request, I think... they CANNOT add any charges to the account unless they are allowed for in the original agreement (although HFO have claimed in the past that once an agreement is terminated, its conditions don’t apply any more – they like to have their cake and eat it).

 

As mentioned above, they are obliged by law to send you annual statements. If they don’t they CANNOT charge interest (and I bet they have done at some point).

 

DB, I have been looking at the HFO claim the T&Cs are not relevant after termination a learned colleague has said there is some merit in this BUT if such a claim is made it could and only could be submitted that therefore their right to collect under said Ts & Cs is open to challenge.

[robcag]

We have the original CCA for both debts from when we first found out that HFO had bought these debts in 2007. What should I do with these? On one of them the small print isnt really legible.

 

 

I will requesr statutory credit report by post this week.

 

DonkeyB - I did get the agreement copies through the CCA request.

 

If the copy agreement isn't easily legible then they haven't complied with your CCA request. i.e. unless all the prescribed terms are easily legible.

 

See below;

 

Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983

2 Legibility of notices and copy documents and wording of prescribed Forms

(1) The lettering in every notice in a Form prescribed by these Regulations and in every copy of an executed agreement, security instrument or other document referred to in the Act and delivered or sent to a debtor, hirer or surety under any provision of the Act shall, apart from any signature, be easily legible and of a colour which is readily distinguishable from the .

 

Rob

[broken arrow]

Can you post up both agreements, removing any personal info.

[findingmy_s]

We have just received the £2 credit report from Experian. One of the HFO debts doesnt appear on there?

I will post up the CCA's tomorrow.

[findingmy_s]

CCa's:

 

[ATTACH]39133[/ATTACH]

 

[ATTACH]39132[/ATTACH]

[dx100uk]

i see PPI on one of those

so bear that in mind too

 

dx

[findingmy_s]

Is it usual that not all of the debts appear on the £2 statutory credit report from experian?

[BRIGADIER2JCS]

No. not if they are current.

[findingmy_s]

The larger deb with HFO is not listed on there at all

[dx100uk]

now what a surprise!!

 

dx

[twofoot]

Cash cow staring us in the face with ths one. If it were me I'd know what I'd be doing and it wouldn't involve paying them.