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HI,

 

I have received a final response letter from Monument, regarding a Payment break plan I use to have attached to a credit card.

 

 

I last paid a payment on the 6/10/2006,

the credit card account is statute barred.

 

 

I did receive letters from Arrow Global and after asking them to prove the debt, not heard from them since.

 

The problem is I have not made any claim against Monument or authorised a third party to do so in my name.

 

 

Their letter states in response to my recent correspondence with them.

 

I am concerned this will reset the time on the statute barred debt,

some advice would be very welcome.

Edited by AndyOw
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Ah.. at first I was a little confused as to what this was about.

 

I would say for sure that the account was statute barred - last payment made in 2006 :)

 

It is my understanding that companies were obliged to contact customers (and ex) whether or not they had made claims. There is no way the SB clock can be reset.

 

I would however imagine that if you were to accept any offer, they will do some internal accounting and you wont see a penny of it.

 

Is it a large sum ?

 

I will try and find someone who might be able to advise further.

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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

 

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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HI,

 

Thank you for your quick response,

 

 

they are refunding me around £1500.00,

 

 

I don't expect to see any of it.

 

 

I was concerned about this being offset against the default balance

 

 

and in some way restarting the SB.

 

 

One thing I have found out is how devious these companies can be.

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Here you go.. see what happens in the first instance, if they start whining about money going to a 3rd party tell them no..

 

When this happened with bank charges claims we advised to insist on payment direct to the OP as it's their money and up to them how to use it. If there are other debts it's unfair on other creditors to use the money to pay themselves back.

 

 

It worked then but of course the banks were desperate to stay out of court.

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

 

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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Here you go.. see what happens in the first instance, if they start whining about money going to a 3rd party tell them no..

 

Thank you,

 

 

In their response they have said they will send the cheque in 28 days.

 

 

Now I know they cant restart the SB, I will fight for the money.

 

 

After the crap Arrow Global gave me and Monument years ago, who just refused every offer.

 

 

I feel the devil to fight for this money,

 

 

I did have the PBP on the card and it proved useless when i got into problems.

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Well I guess if they have said they will send you the cheque then see if they do this first - quite possible we are all worrying for no reason at all - lets hope so. Please let us know how things go :)

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

 

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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HI,

 

Had another letter today,

 

 

Monument have sent the payment directly to Arrow Global as the outstanding balance is held with them.

 

 

Question is

 

 

do I write to Monument and inform them I have never contacted them regarding claiming PBP back from them

and ask for a copy of all correspondence.

 

 

Surely if Arrow have claimed this in my name its Fraud?

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I will ask for you..

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

 

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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Cant offset it to a third party. It has to go to you. Only way it can go to the debt is if the OC claims the debt back, offsets then does whatever.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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the account has been sold the FOS PPI website clearly states that on sold debts

any PPI reclaims CANNOT be paid to the debt buyer

it MUST goto you.

 

 

you need to WRITE to Monument and tell them so quoting the relevant FOS guidelines.

 

 

if you need a PPI contact at Monument

theres one that regularly appears in PBP threads.

 

 

any PPI reclaims DO NOT ack the debt.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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HI,

 

I have written a letter ready to post, I would be grateful for your thoughts.

 

" Dear Customer Relations:

 

I am writing to you somewhat confused I note from your letter dated 18/12/2014 (Final response). That you infer I have been communicating with you regarding a PBP claim, I wish to state at no time have I entered into correspondence with Monument with regard the alleged claim.

Neither have I authorized any agent or specialist company to make any claims against Monument regarding refunding PBP.

 

However if under government legislation regarding miss sold PBP, I was entitled to make a claim in my own right. Then I would like to refer you to the financial ombudsman service guide lines. Which clearly advices any PBP payment should not be paid directly to a third party after a debt is sold on. Reference your letter dated 7/01/2015 you confirm the account is held by Arrow Global.

 

Please send me copies of all the alleged correspondences, as I believe there has been a financial fraudulent act against my name. I will then refer this matter to the FOC or appropriate authority that can investigate the fraud against my name."

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Need to be much firmer than that in your response. You seem to be pleading with them instead of demanding them.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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HI,

 

I have written a letter ready to post, I would be grateful for your thoughts.

 

" Dear Customer Relations:

 

I am writing to you somewhat confused I note from your letter dated 18/12/2014 (Final response). That you infer I have been communicating with you regarding a PBP claim, I wish to state at no time have I entered into correspondence with Monument with regard the alleged claim.

Neither have I authorized any agent or specialist company to make any claims against Monument regarding refunding PBP.

 

However if under government legislation regarding miss sold PBP, I was entitled to make a claim in my own right. Then I would like to refer you to the financial ombudsman service guide lines. Which clearly advices any PBP payment should not be paid directly to a third party after a debt is sold on. Reference your letter dated 7/01/2015 you confirm the account is held by Arrow Global.

 

Please send me copies of all the alleged correspondences, as I believe there has been a financial fraudulent act against my name. I will then refer this matter to the FOC or appropriate authority that can investigate the fraud against my name."

 

I would send something like the following....

 

Dear Sir or Madam (or named person)

 

Account references

Formal Complaint

 

Your Final Response letter dated XYZ implied that I had made a request for a PBP refund in that this was your final response on offer. This is confusing as I have neither made the claim personally or instructed anyone to do so on my behalf. In this instance, I must insist that you provide me with any paperwork in respect of this refund and the manner in which it has been claimed.

 

It is my understanding however, that you have been instructed by the Financial Conduct Authority to make contact on YOUR own behalf where you have mis sold any form of Insurance to your customers and refund them.

 

Your letter advised that a cheque would be with me within 28 days.

 

A further letter dated XYZ advised, in contradiction, that the cheque was being sent to Arrow Global.

 

I would refer you to Financial Ombudsman Guidelines where it states that these refunds are not to be sent to a 3rd party after a debt has been assigned unless instructed by the claimant.

 

I look forward to receiving your considered response within 14 days from the date of this letter, failing which, I will be escalating my complaint to the Financial Ombudsman and the Financial Conduct Authority.

 

Yours faithfully

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

 

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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Share on other sites
I would send something like the following....

 

Dear Sir or Madam (or named person)

 

Account references

Formal Complaint

 

Your Final Response letter dated XYZ implied that I had made a request for a PBP refund in that this was your final response on offer. This is confusing as I have neither made the claim personally or instructed anyone to do so on my behalf. In this instance, I must insist that you provide me with any paperwork in respect of this refund and the manner in which it has been claimed.

 

Thank you i will post this today.

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  • 1 month later...
Hi, I received a final response letter from monument last week , I have a debt it is statute barred. I was wondering did you receive the PBP refund?

 

Received a response from monument saying they never sold PPI and the refund was to help me reduce my debt with Arrow who they sold the debt to. Also they will not corespond any further regarding this matter and will just file any letters sent to them in response.

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they cant offset the debt is sold

 

 

they have no right too offset because of that

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 4 weeks later...
they cant offset the debt is sold

 

 

they have no right too offset because of that

 

 

dx

 

I have received a follow up response letter stating that £846 has been sent to Lowell. The debt wasn't even that to begin with. Can they do this, they said its payment break plan and that it's different to ppi.

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I would imagine the next course would be to send a formal complaint to the FOS

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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it is PPI and regardless they cannot offset

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites
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