Ascent legal offering discount on BH loan

[monica32]

Hello all,

 

A bit of help is needed regarding the procedures required in relation to a Default Notice.

 

The OC-Black Horse has admitted that a default notice was not sent prior to the account being assigned to the DCA- Hilsden Securities.

 

The DCA has issued now a DN for the sum of arreas not the whole amount. Is this allowed?

 

Many thanks

[AndyOrch]

A Default Notice and a Notice of Sums in Arrears are two different things monica32.

 

Andy

[monica32]

Thank you Andy,

 

I think they have actualy issued me with DN.

It says :

 

This is a Default Notice served under section 87(1) of the consumer credit act 1974.

In respect of loan made between... and Black Horse Ltd.

We Hilsden securities limited trading as Dlc are now the owner of this agreement as the benefit of the agreement has been assigned to us.

Provision of agreement breached: 2.1 of the agreement which requires you to make payment

Nature of breach: you have not paid instalments of ... Pursuantvto 2.1 and you are now.... in areas.

Action required to remedy: In order to remedy the breach you must pay the total amount of areas before 11/2/2016. Wich is not less than 14 days after the date of service of the notice.

Further action: Hilsden will serve nitice in writting demabding payment of the outstanding balance. If the outstanding balance is not received Hilsden will bring proceedings against you for the outstanding balance. In addition failure to make payment of areas wil result in registering a default with The Credit Reference Agency.

 

Thanks for any advice.

[renegadeimp]

DCA cannot add a default. They can update or maintain an existing one but they cant add one where one didnt exist before.

[monica32]

Original creditor-BHorse has never added default to my cra file and has never served me with one-yet the debt has been sold to Hilsden. Hilsden is now my data controler- they are not allowed to add default?

My question is can Hilsden instigate court procedengings?

 

Thank you

[Guest]

this is the ico's view

'The bank didn’t send me a default notice under the Consumer Credit Act 2006; can they still list a default on my credit file?

 

In most cases, the answer is likely to be yes, provided that the default recorded is an accurate reflection of events and that when you opened the account you were told (probably in the terms and conditions of the credit agreement) that this may happen. It is unlikely that recording the default, even if you don’t recall receiving a default notice, would breach the DPA.

 

A ’default‘ on your credit file simply means that the lender considers that the relationship between you has broken down.

 

Therefore, while it may be a requirement of the Consumer Credit Act to issue a default notice, there is no DPA obligation on a lender to issue a default notice to individuals before marking an account as being in default on their credit file.

 

 

Further information on filing defaults with the CRAs can be found in the Principles for the reporting of arrears, arrangements and defaults at credit reference agencies.

 

The principles in this document have been drawn up by the credit industry in collaboration with the ICO.

https://ico.org.uk/for-the-public/credit/

 

given that it has been sold on, it seems that the relationship has 'broken down', as things arent usually sold on unless at least a default.

 

 

Gas it has been assigned, maybe the new owner can register a default if none before. but it wld have to correlate/be in re of the initial breakdown with the original creditor?

see what the guys say.

[AndyOrch]

Hi Monica....unfortunately there is no simple answer to your question...depends on quite a lot of variables that must be taken into account.

 

If BH have stated that a Default Notice was never sent before the assignment...did you actually default the account?

 

If you did default the account how long before the assignment was the default ?

 

As a default marker ever appeared on your CRA files before or after the assignment...?

 

It is possible assuming that there was no default and the account had not been terminated that a DCA can issue a Default Notice in their name as the assignee of the account.....but..

 

Why would BH sell the account if it hadn't been defaulted or was a bad debt ?

 

Subject to your responses we can look at this further.

 

Regards

 

Andy

[monica32]

Andy,

 

Initialy i was paying reduced monthly payment to BH. They were placing late payment markers on CRA file. After some time- about 10 months account has been passed on to collection agency. Amount I was paying remained the same.

In September 2014 I have received notice of assigment from BH informing me that account has been sold with all the right and duties to Hilsden Securities.

My CRA file shows now HS as debt owner. No default has been added- it still shows late payments.

 

 

 

Thank you

Monica

[AndyOrch]

So BH as never appeared on your CRAs?

[monica32]

It has when BH were stil owners of the account. Now Hilsden is on it as debt purchaser.

[AndyOrch]

The following is assuming this is a credit card ..running credit

 

 

Okay so that signifies that BH have previously defaulted you....may or may not of sent you a default notice....but they have defaulted you so....

 

" The OC-Black Horse has admitted that a default notice was not sent prior to the account being assigned to the DCA " take that as a pinch of salt.

 

So the account was then sold to HS who have updated the CRAs with their name..which is fine and correct..but what date was the Default marker running from? (it should be from the date BH defaulted you)

 

Now with regards to SH sending you a Notice of Sums in arrears that is correct...they must send one at least once a year..pursuant to sec 86 C of the CCA1974

 

With regards to them sending you a Default Notice in their name...requesting arrears in default and stating 14 days...ignore....as the debt will have been terminated on assignment.

 

Regards

 

Andy

[dx100uk]

Threads merged yet again.....

 

Time to get reclaiming those fee or simply ignore then....

 

Dx

[monica32]

Hello,

 

On my CRA file late payments markers are running from 2015 there is nothing for preavious years.

 

Regards,

Monica

[AndyOrch]

Okay so that suggests that BH never did default and therefore never issued a Default Notice.

 

So there is no problem with HS issuing a default notice...except that the default information should be true and correct and at the time the default occurred ( IE with the original creditor)

 

Subject to the time difference if it it substantial then your only problem is that your CRA,s do not reflect an accurate picture.

 

Andy

[monica32]

Andy,

 

Hilsden confirmed in writting that BH has never issued default notice or defaulted my account prior to sale.

If Hilsden issue default notice now can they rely on this in court?

 

Thank you

Monica

[AndyOrch]

I personally wouldnt believe anything Hilsden state but the fact is you have checked yourself and its never been defaulted on your CRA,s by BH

 

So back to your initial post.... " Can dca issue default? "

 

Yes ..providing that the original creditor never terminated the account...and yes they could rely no it in court should they decide to enforce the agreement.

[monica32]

Thank you Andy,

 

When account is sold is it not automatically terminated?

What would you suggest I should do in that case?

 

Regards,

Monica

[AndyOrch]

Thank you Andy,

 

When account is sold is it not automatically terminated?

What would you suggest I should do in that case?

 

Regards,

Monica

 

Well that's why I have had to exhaust all possible variables...hence the questions:-)

 

Normally credit agreements are usually assigned because of bad debts/defaults etc and therefore most of the time terminated by the issuance of a Default Notice.

 

In your case it appears that..yes you were in arrears and yes it was considered a bad debt hence the assignment...but as you have confirmed that it was never defaulted nor recorded and therefore the agreement was still " live "at the time of assignment...I assume you still had use of this account and was still free to use it when you were in arrears?

[monica32]

Andy,

 

It was personal loan not credit card.

 

Thank you

Monica

[AndyOrch]

I see ...I did state in post # 45 " The following is assuming this is a credit card ..running credit "

 

So if HS are requesting the arrears rather than the full balance......then it may not of yet been terminated.

[monica32]

Sorry Andy- I missed that bit in post #45.

 

It simply means that if they issue DN they can put default on my CRA and start court action?

everyone seems to be thinking that if debt is sold to third party there is definately something wrong wit that debt.

 

Regards,

Monica

[AndyOrch]

Just because they issue a default notice and mark your files does not necessarily mean court claim time.

[dx100uk]

Too right

Have you sent an sar?

[monica32]

Hello,

 

Yes Sar sent and all paperwork received from BH.

I have question regarding intrest.

Since HS has bought my debt they have been adding intrest to it. When going through the letters I have noticed that intrest they adding is diffrent from the one specified in my CCA. Is that allowed?

 

Thank you

Monica

[AndyOrch]

Hello,

 

Yes Sar sent and all paperwork received from BH.

I have question regarding intrest.

Since HS has bought my debt they have been adding intrest to it. When going through the letters I have noticed that intrest they adding is diffrent from the one specified in my CCA. Is that allowed?

 

Thank you

Monica

 

This brings us back to the is it terminated or is it not dilema monica...if its still live yes they can add interest...but only in line with the T&C s of your agreement.

 

Andy