E-Petition - everyone please sign . Re. Debt Purchase and unfair Statutory Demand and Bankruptcy procedure use.

[citizenB]

storm, sadly we have discovered through other petitions that there is a certain amount of apathy in respect of petitions

 

You only have to look at other petitions to see that even where there has been a huge number of views, the signatures remain quite low.

[sequenci]

Also, it's worth bearing in mind that 'views' can often be from computerised systems/spiders rather than humans. 35 caggers have read this particular thread.

[storm01]

storm, sadly we have discovered through other petitions that there is a certain amount of apathy in respect of petitions

 

You only have to look at other petitions to see that even where there has been a huge number of views, the signatures remain quite low.

 

 

I do understand that and have had comments along those lines (inc elsewhere) but this is why they keep getting away with it. I know people have to be strong and all this stress does weaken people to a point of despair.

 

 

I am aware DCAs have seen it and they might well be spreading the word amongst colleagues...(nowt better to do than troll forums...LOL), I don't expect miracles, but there are enough victims here and other places to make a difference, if only people could bring themselves to unite

[storm01]

Ah! Thanks Sequenci.... obviously some of us are keen to see an end to the bad treatment. Just thought if anyone read though and had any doubts, I'd just urge it's all above board

 

 

Also, it's worth bearing in mind that 'views' can often be from computerised systems/spiders rather than humans. 35 caggers have read this particular thread.

[defaulter3076]

Signed. Would it be possible to argue in a court case that the original creditor has mitigated their loss with tax relief and insurance payments, so the amount claimed for should be reduced by the amount mitigated?

[storm01]

Thanks for signing, please share about too Now you see that is what I wish to question as it makes sense to me, yet it is likely ignored for the purposes, as irrelevant, same as how much DCAs paid, as the law makes a new owner and the whole amount is still due under that law.... which needs changing...but defo if banks are in the limelight, why hasn't the Gov caught on yet....writing off large sums, claiming some relief... would make the tax bill look better....be interesting, but needs a lot of weight to make such a big change, all these credit agreements that were signed with a clause over the years, allowing assignation...how could they retract.....it would be years of adjustment, but to stop DCAs buying would be a good step.

Signed. Would it be possible to argue in a court case that the original creditor has mitigated their loss with tax relief and insurance payments, so the amount claimed for should be reduced by the amount mitigated?

[Pete_the_Postman]

Hi, sorry to add but this is set up to try to help http://epetitions.direct.gov.uk/petitions/60324 obviously it's a long way off, but if we all try

 

Great petition I hope that it comes to fruition.

[storm01]

Hi Pete_the_Postman, many thanks for your support! It is already a little slow, which I can understand if people are already down about any likelihood of change, but IF everyone did sign, there is a chance, at least it would be read by them up top. I know it is a major and it leans on the negative side, that maybe they aren't capable of making such a mammoth change, but at least I'm trying LOL

 

 

Great petition I hope that it comes to fruition.

[storm01]

Does anyone have any more ideas to get word around re. this? Seeking positive assistance, shares, if anyone has a site, tweet it, email it.... I simply want as many people that you think would sign, to see it, so they don't miss out. I'm normally the last to know things...ha ha. I have been sharing, emailing and so on, but feel a little invisible as yet. Still BIG thanks to all that have signed. That 100,000 is miles off....LOL.

 

 

I know the other concerns, naturally

[storm01]

So, whilst I can't share external links here, if you noticed in the news that certain major debt collection company announces figures, and payout and estimate they will recover large percentage of debts they bought.........you really need to be signing petition. I know many of you feel it will fail, but unless 100,000 of you DO sign, we don't know for sure. It is a major ask but there should really be enough 'victims' of all the debt collection companies to reach that number. One thing you might concur is that there will likely be an increase in court action or bankruptcy, as they brag of taking on more types of debts and it is mighty unpleasant for those that are being harassed or being put through court.

http://epetitions.direct.gov.uk/petitions/60324

[dasby]

The cost of bankruptcy can be huge in comparison to the size of the original debt. I had months of awful stress and worry after I was unable to keep up payments on a credit card and a debt collector bought the £2500 debt. They soon issued a statutory demand with the threat of bankruptcy as I had equity in the house I own with my wife.

 

A consultation with an insolvency practitioner revealed that if the DCA had pursued the bankruptcy petition it would have been likely to cost me in excess of £20k to be made bankrupt in order to settle a £2.5k debt. Is that a fair cost?

 

The OFT guidelines on debt collection need to be given the force of law. In this case they helped me after the DCA threatened to proceed with bankruptcy proceedings unless I "make adequate repayment proposals in view of the equity you appear to hold in the family home".

 

I made a formal complaint that they had contravened Section 3 of the OFT Guidelines on Debt Collection (Unfair or Improper Business Practices)

3.7b physical or psychological harassment "pressurising debtors to raise funds by selling their property or by taking on further borrowing"

 

3.7i "pressurising debtors to pay more than they can reasonably afford without experiencing undue difficulty or to pay within an unreasonably short period.

For example, by using a threat of enforcement action through the courts

– including but not limited to applications for charging orders and orders for sale

– to pressure debtors in financial difficulties to pay more than they can reasonably afford.”

 

Note 32 states: “For example, pressuring a debtor to make unreasonably large repayments or to pay off his debts in full in a single (or very few) repayment(s),

when to do so would have an adverse impact on the debtor's financial circumstances.”

 

Note 33 states: “The OFT would regard 'without undue difficulty' in this context as meaning the debtor being able to make repayments

while also meeting other debt repayments and other normal / reasonable outgoings and without having to borrow further to meet these repayments.”

 

Section 3.7n states: “Making undue, excessive or otherwise inappropriate use of statutory demands when pursuing arrears or debts.”

 

It seems that my complaint had some effect as the DCA took four months to reply, finally saying that they believed the statutory demand was justified but after further consideration they would be willing to accept a full and final settlement. This was concluded at 40% by a relative who is willing to wait until I can repay her. I dread to think of the consequences for those who aren't fortunate to have such a lifeline.

 

Caggers, please sign the petition and lobby your MP and the Citizens Advice Bureau to raise this matter with the Financial Conduct Authority and the government.

[storm01]

Dasby, thank you so much for this!

 

 

I am sorry to hear you also suffer so much stress, but also glad you managed to find a resolve It is diabolical as any DCA may only have paid below the bankruptcy threshold, say for example in your £2500 debt, they only paid £250 (probably less) then this demonstrates they will stop at nothing to get their profit. The horrendous cost that would have occurred with Bankruptcy is beyond unfair!

 

 

I placed the petition, fully hoping (somehow) that 100,000 people would sign and obviously that is mega! But it is so far disappointing to see lack of response. It is on forums, blogs, social networks.

 

 

If you are reading this, please please sign everyone, even if you think it won't affect you!

 

 

The Law totally allows for this to happen. The OFT do rule that Statutory Demands shouldn't be a first collection technique, but be assured it is happening!

 

 

Even if you think you prefer a DCA to buy your debts, note that courts are upholding and debt buyers winning!

 

 

If everyone can please SHARE/TWEET and keep doing it, to try hard to get these signatures, it stands a chance of being heard in the House Of Commons.

 

 

Also anyone with such experiences, please write to the FCA who are taking over from OFT at the end of March. Write to 10 Downing (can be emailed online)....if they get enough, at least they will read it hopefully and mention the fact banks claim tax relief/Insurance...when they sell. We all know what we are up against but if you sit back, nothing will ever improve.

Thanks all

 

 

 

 

The cost of bankruptcy can be huge in comparison to the size of the original debt. I had months of awful stress and worry after I was unable to keep up payments on a credit card and a debt collector bought the £2500 debt. They soon issued a statutory demand with the threat of bankruptcy as I had equity in the house I own with my wife.

 

A consultation with an insolvency practitioner revealed that if the DCA had pursued the bankruptcy petition it would have been likely to cost me in excess of £20k to be made bankrupt in order to settle a £2.5k debt. Is that a fair cost?

 

The OFT guidelines on debt collection need to be given the force of law. In this case they helped me after the DCA threatened to proceed with bankruptcy proceedings unless I "make adequate repayment proposals in view of the equity you appear to hold in the family home".

 

I made a formal complaint that they had contravened Section 3 of the OFT Guidelines on Debt Collection (Unfair or Improper Business Practices)

3.7b physical or psychological harassment "pressurising debtors to raise funds by selling their property or by taking on further borrowing"

 

3.7i "pressurising debtors to pay more than they can reasonably afford without experiencing undue difficulty or to pay within an unreasonably short period.

For example, by using a threat of enforcement action through the courts

– including but not limited to applications for charging orders and orders for sale

– to pressure debtors in financial difficulties to pay more than they can reasonably afford.”

 

Note 32 states: “For example, pressuring a debtor to make unreasonably large repayments or to pay off his debts in full in a single (or very few) repayment(s),

when to do so would have an adverse impact on the debtor's financial circumstances.”

 

Note 33 states: “The OFT would regard 'without undue difficulty' in this context as meaning the debtor being able to make repayments

while also meeting other debt repayments and other normal / reasonable outgoings and without having to borrow further to meet these repayments.”

 

Section 3.7n states: “Making undue, excessive or otherwise inappropriate use of statutory demands when pursuing arrears or debts.”

 

It seems that my complaint had some effect as the DCA took four months to reply, finally saying that they believed the statutory demand was justified but after further consideration they would be willing to accept a full and final settlement. This was concluded at 40% by a relative who is willing to wait until I can repay her. I dread to think of the consequences for those who aren't fortunate to have such a lifeline.

 

Caggers, please sign the petition and lobby your MP and the Citizens Advice Bureau to raise this matter with the Financial Conduct Authority and the government.

[Lilythepink]

Shared and tweeted

[storm01]

Many thanks Lilythepink

 

 

Shared and tweeted

[citizenB]

I have popped it on the CAG tweet list as well.

 

I wonder if the title could be changed to have more impact !

 

Perhaps we could have a few suggestions

[citizenB]

I must admit, I am saddened by the lack of response for the e-petition.

 

Although, I have said this before - unless someone is directly affected, they tend not to support campaigns

[storm01]

Many thanks citizen!

 

 

Do you mean the title on this forum. I can't access the actual petition at all. But indeed, if you can come up with a better title on here, if you can access feel free to try to grab that attention

 

 

 

 

I have popped it on the CAG tweet list as well.

 

I wonder if the title could be changed to have more impact !

 

Perhaps we could have a few suggestions

[bd1972]

Just signed it and tweeted. All the best

[storm01]

I am definitely stunned as thought many of this forum would jump on it. Years of upset experienced here by so many members, I know some doubt it will go anywhere....but with that negative view, we don't know.

 

 

I have placed it in as many places as I can think of, messaged lots of website peeps, advisory groups all kinds of places....LOL...

 

 

Have some faith peeps...if we reach target, there is a chance to get it heard. It's a hot topic with government, re. tax evasion...I kind of liken this to banks and tax relief and then do DCAs claim again when they either re-sell OR can't retrieve....it's a bit deep, but in a nutshell...

 

 

It is NOT just people that have had Statutory Demands that need to sign it is ALL people that have experienced debt collectors, buyers and any other debt advisory that sees the harmful behaviour. Like I keep saying nobody denies they may have owed money to bank or credit card company etc, but these companies PREY and even will go out of their way to acquire two or three (or more) of a person's accounts from various sources and add them together.

 

 

It doesn't seem possible to rely fully on the laws, the regs. or as in older cases unenforceability, nor terminated accounts... I consider Courts are favouring DCAs too often

 

 

 

 

I must admit, I am saddened by the lack of response for the e-petition.

 

Although, I have said this before - unless someone is directly affected, they tend not to support campaigns

[storm01]

That's not knocking anyone who helps either, they all do fab work!! Purely stating there is a risk of losing

[storm01]

Thanks bd1972 Let's hope we have a mass influx LOL

 

 

Just signed it and tweeted. All the best

[storm01]

http://epetitions.direct.gov.uk/petitions/60324

[cups]

http://epetitions.direct.gov.uk/petitions/60324

 

Signed it too, it is a good idea, we are the losers in this game, all the time,

Well done,

Cups

[storm01]

Thank you cups, feel free to pass the word around, if you know anyone that has also had bad experiences ;-)

 

 

Signed it too, it is a good idea, we are the losers in this game, all the time,

Well done,

Cups

[citizenB]

Many thanks citizen!

 

 

Do you mean the title on this forum. I can't access the actual petition at all. But indeed, if you can come up with a better title on here, if you can access feel free to try to grab that attention

 

Yes, I did mean the title of the thread, storm.. not the petition. Although I believe there have been many other petitions in respect of this particular issue.

 

 

 

It is NOT just people that have had Statutory Demands that need to sign it is ALL people that have experienced debt collectors, buyers and any other debt advisory that sees the harmful behaviour. Like I keep saying nobody denies they may have owed money to bank or credit card company etc, but these companies PREY and even will go out of their way to acquire two or three (or more) of a person's accounts from various sources and add them together.

 

 

It doesn't seem possible to rely fully on the laws, the regs. or as in older cases unenforceability, nor terminated accounts... I consider Courts are favouring DCAs too often

 

 

I think the courts are waking up to the fact that many Debt purchasers are using Stat Demands innapropriately, so they arent all getting away with it. We have seen many SDs set aside on this forum and others.

 

What is so frustrating is that often the amounts are just over the BR limit of £750.00 which is crazy.

 

There really needs to be a total overhaul of the way debt is sold - pursued - collected.

 

I also believe that creditors should be forced to advise in their advertising and on their credit agreements that ALL debt, even unsecured debt can, if not repaid, land a person with a charge on their home or B/R

 

Please note that those Debt purchasers who use the Insolvency process to collect debt, tend to target home owners - there is little point in targetting someone who doesnt have any assets !

 

I think it should also be made clear that unsecured debt usually has a higher interest rate, so if they do manage to get a charge on a property, there should be some relief from the very high interest rates previously paid to the creditor.