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Arrow Global NOT providing Statement of Account. Strange reply they sent


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Hi fellow CAGers

 

I recently received a letter from Arrow Global demanding over £7k. Suffice to say I genuinely have no idea what this alleged debt is for.

 

I sent a letter to Arrow Global requesting a statement of account and included a £1 postal order.

 

I have just received a reply from Arrow Global, but it doesn't make much sense. See below.

 

If anybody could advise on the appropriate course of action I should take I would be most grateful.

 

Many thanks

 

 

 

Arrow Global letter: -

 

Dear xx

 

Arrow Global Limited account: xxxxxx

ASSIGNED BY Fairmile Partnership 1 LLP (ACCOUNT NUMBER 1234567)

 

We thank you for your letter dated xx/04/2014, addressed to Clarity and passed to Arrow as assignees of the account.

 

We acknowledge your request for documentation pursuant to the Credit Consumer Act 1974. We do not accept we are the creditor as envisaged by the above statute.

 

This account arose under an overdraft facility. Even if this account was regulated under the Consumer Credit Act 1974, Part V of the act does not apply to this facility and there will accordingly be no executed agreement.

 

In addition, we confirm:

- the total sum paid is £0.00;

- The total sum outstanding is £7xxx.7x; and

- The amounts which will become payable comprise interest and costs, depending on what enforcement action is taken against you.

 

We confirm the account is not statute barred under the Limitation act. Last payment was made int he [sIC] sum of £1.xx to our external agents Allied International on xx/09/2009. Please contact Clarity to make arrangements to pay your debt.

 

We return the payment of £1.00.

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As the debt is for an overdraft then they are right in that a CCA request will not work although they are wrong in saying that they are not the creditor.

 

However as you say you have no knowledge of this debt you should be sending the prove it letter from the library to them

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387363-You-know-nothing-of-the-Debt-Prove-It-(Updated-21.04.2014)

Any opinion I give is from personal experience .

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Are they still trying to avoid responsibility ??

 

 

While Arrow Global now argues they are not the Creditor, the law says different, as such when Arrow Global purchased the account they are now obliged by law to provide you with any document you ask for within the timescales set by the original agreement, if Arrow Global having bought the account do not know what the terms and conditions of the original agreement were, and are unable to provide a copy for you, IMHO they are in breach of 16.5 of Section 82 CCA

 

Effectively the original creditor is history, having served a default notice upon the borrower the original creditor is entitled to pursue litigation of his own accord or sell the account on.

 

The assignee is treated as a new entity and the case must reflect what has happened since the date of assignment, the assignee now held in law as the creditor is required to send the borrower monthly statements of account, failure to make payments by the due dates the assignee must send notice of arrears and default notices as per CCA rules.

 

The particulars of claim can be defended, whereas before claimants such as Arrow Global make a vague statement of case based on perception it is very easy to put a spin on it whereby the claimant has no hiding place.

 

Section 82 Consumer Credit Act 1974 a new directive issued, which reflects the new European Union Directive Assignment of Rights

 

16. ASSIGNMENT OF RIGHTS

 

16.1 Where 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.

 

16.2 It 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.

 

16.3 Notice 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.

 

16.4 Where 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.

 

16.5 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."

 

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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As the debt is for an overdraft then they are right in that a CCA request will not work although they are wrong in saying that they are not the ])

 

It's still a regulated agreement - it's just exempt from Part V of the act; this covers the form and content of the credit agreement. I'm sure a CCA request should still allow for a statement of account to be furnished.

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It's still a regulated agreement - it's just exempt from Part V of the act; this covers for form and content of the creditor agreement. I'm sure a CCA request should still allow for a statement of account to be furnished.

 

And also the facility letter I would think sequenci.

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I know ODs are more complicated but regardless they should give a statement of account. There is a letteri nicked from a "friend" which I will try to post up later.

Any opinion I give is from personal experience .

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Isn't the most important thing that the OP says they know nothing of this so AG need to prove liability first. Challenging the payment would only come if they can prove it is the OPs debt

Any opinion I give is from personal experience .

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Hi guys

 

Thank you for all your feedback. Most insightful. From the advice you guys have given, I think my next course of action will be as follows: -

 

- Wait for AG to send another letter (current letter has no deadlines, or demands).

- My next response will be another request for statement of account and/or proof of ownership of debt.

- Request a copy of notice of assignment, as one was never received.

- Remind AG that no further correspondence will be made until above information has been provided.

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