Credit Security Ltd old Lloyds credit card debt - now robbersway.

[agjones]

Hello

 

I had an original credit card debt with TSB about 16 or 17 years ago, when my business was terminated.

 

Because of my circumstances I agreed a monthly repayment of £1.

 

After sometime I found I was having to make the payments to Credit Security Ltd and I am still doing so.

 

Some years ago I suggested making a single payment of a substantial sum (but less than half the debt),

which would be far more than they will ever receive in my lifetime at a rate of £1 per month.

 

they refused the offer.

 

With postage of 50p I really want to bring this to an end but I cannot repay the total and will have to look to others (possibly) to make up an offer.

 

I really don't know how best to do this.

 

Can anyone help, please?

 

PS I am a pensioner and not able to access much in financial resources.

 

Kind regards

 

Tony

[renegadeimp]

Well, SB status is out of the window.

 

Stop payments and send them a CCA request. It really sounds like you are being cashcowed and have been for years. Especially if they are content at £1 a month and have been for years. Infact, since its to a DCA, chances are they have no chance at getting the original agreement due to the time elapsed.

 

Check your credit file. Its pretty much guaranteed that the debt wont be on there, as it would have been removed over 10 years ago. But its worth it incase the DCA is pulling tricks.

[Bazooka Boo]

You've paid enough already, IMO I would stop paying NOW!

 

They're conning you into buying their tea and biscuits, I would be extremely surprised if this is going toward paying off the actual debt.

 

Stop paying, CCA request which costs £1 postal order.

http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter.

[renegadeimp]

The debt has most likely long been forgotten about/deleted/written off. As BB said, it is going straight into the pockets of the DCA. It might not seem much, but figure a ton more people paying £1 a month and theyre making a tidy profit for no effort. You are pretty much gifting them money.

[fletch70]

Absolutely agree. CCA is the way forward and stop paying. If it's from the late 90s almost certain that no enforceable agreement will be available. If there is go back to a quid a month,possibly by standing order to save on the postage.

[agjones]

I followed the standard advice of requesting a CCA and Credit Security Ltd sent the following reply:

 

We confirm we have requested a copy of your Credit Agreement which will be forwarded

to you as soon as it is available.

However, as the above debt has not previously been in dispute, kindly confirm whether

you acknowledge opening the above account in your own name, using our clients services

and the balance according to your records.

If you are disputing the outstanding balance or believe that the account has been

the subject of fraud, kindly provide full details to enable our client to investigate

this matter.

 

I feel wary about answering their specific questions in case they commit me to anything. As I have been paying them for years, it seems unlikely that I did not recognise the debt.

 

Can you advise me on the next step to take? I feel inclined to send a non-specific response.

 

Thank you.

[dpick]

Next step do nothing do not reply to this letter wait till they do a proper response with an agreement.

 

dpick

[fletch70]

Absolutely non of their business. The whole point of the cca request is for information so you can make a judgement on your position. Ignore them.

[renegadeimp]

Fully agree with the above posters. THey are trying to get you to give them info as they dont have any themselves. Wait the 12+2 days and send them the non compliance letter so you can throw the account into serious dispute.

[Guest]

ditto wait see what they come up with if anything. take it from there.

[Bazooka Boo]

However, as the above debt has not previously been in dispute, kindly confirm whether

you acknowledge opening the above account in your own name, using our clients services

and the balance according to your records.

If you are disputing the outstanding balance or believe that the account has been

the subject of fraud, kindly provide full details to enable our client to investigate

this matter.

 

How hilarious!

These fools are trying to get you to commit in writing evidence that they will use against you, do they really think we all came down in the last shower?

 

This is further evidence that you should stop paying, they are squirming and worried that they are going to lose their regular income.

[agjones]

As you see, it is now early May and I have just had another reply from Credit Security Ltd. They apologise for the delay in sending the Credit Agreement and will forward it as soon as it is available.

 

Surely it must be available for them to be able to collect any debt from me, what do they mean? Do I now contact Trading Standards through Citizens Advice Bureau?

 

Thank you for all your help and advice to date.

 

Tony

[renegadeimp]

No reply to a CCA in 12+2 days, send the in dispute letter and ignore anything from them unless its a valid CCA.

[fletch70]

Personally as they are telling you they haven't got it yet i would not even waste the postage.

No harm in sending it though as a paper trail. I would bang it off by email,keeping a copy.

[renegadeimp]

You need to send the dispute letter to legally put the debt into dispute.

[fletch70]

Is it really an issue as the cca clearly says no agreement =unenforceable until a compliant agreement is produced. Telling them the account is in dispute seems unnecessary although as i said no harm in sending it.

[fletch70]

Oh also never ignore something like a notice of claim or even a full blown claim, cca or not

[Guest]

agjones

has this been sold on to crud security, or are they just 'collecting'?

[Guest]

I would always send the dispute letter after the 12+2 days if no cca available. It makes the dispute formal. I don't trust dca's, and some of them have dodgy tactics to say the least. A paper trail is good to have. Its your call but I prefer to dot the i's etc.

[renegadeimp]

I would always send the dispute letter after the 12+2 days if no cca available. It makes the dispute formal. I don't trust dca's, and some of them have dodgy tactics to say the least. A paper trail is good to have. Its your call but I prefer to dot the i's etc.

 

Fully agree. You need to make sure you cover all your bases so you dont give the DCA ANY wriggle room at all.

[Guest]

yes, if no response to a statutory cca request, whilst technically not required, send a 'dispute' letter/email to suit reminding them that they have failed in their statutory obligation. let them come back on it.

Edited May 6, 2013 by Ford

[Bazooka Boo]

So send them a 'failed in dispute' letter then?

 

YES send it, 2nd class and obtain 'proof of posting' which is free from the PO counter, this is "purely" for your own evidence, NOT theirs, they don't read your letters anyway.

[Guest]

i used 'dispute' generically. but, technically a 'dispute' is re the amount owed being disputed. whether that also be re liability or not? failure to comply with statute is a different matter.

[agjones]

You need to send the dispute letter to legally put the debt into dispute.

 

I'm sorry - I should have explained that this latest letter from Credit Security came after sending them a dispute letter - using the appropriate template.

 

I have also, now, sent a message to CAB outlining what has happened, as they are the route to Trading Standards. I hope I'm doing the right things.

 

Thanks again, ALL of YOU, for your interest and comments.

 

Tony

[agjones]

It's me again. The letter I sent Credit Security was a "Failure to Comply" letter. I guess that is different from a "Disputing the Debt" letter.

 

Tony