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    • Thank you for this. The first thing to be say is that this means that you are winning. It is pretty well unheard of in my experience for the bank to give way and finally return the money. The fact that they have done this under the threat of a judgement for breach of statutory duty indicates even more that they are worried about their position. Nowhere have they indicated that they have complied with the requirements of the Proceeds of Crime Act and inform the National crime agency. I don't believe they have and this is a very serious breach of statutory duty. Not only that it is a very serious breach of the FCA BCOBS regulations in that they are required to treat you fairly. Treating you fairly in this case means that they must comply with the rest of their statutory duties. It appears that they really haven't done this at all and that they have acted in an arbitrary way in disregard of the law and that they are hoping to get away with it. I find myself wondering how many other hundreds of people have been treated in exactly the same way – and you are probably the first ever to have stood up to them and to get them worried. I think I've already indicated that a press contact of mine in the Sunday Times would be very interested in this story. He has already run stories about the very poor standards applied by banks when deciding that their customers are involved in some fraudulent behaviour. The first thing to say about the letter which you have received is that they are trying to apply conditions to releasing your own money. It's your money and there should be no conditions and my suggestion is that you object to this. Secondly, not only are they threatening to continue to withhold your own money – but also they are saying that if they release it to you you will simply have the net figure without any kind of interest or compensation. It's clear that while they have had your money, they have invested it and earn money on it. They have probably been lending it out at between 16% and 20% and although the usual rate of interest is 8%, it seems to me that justice can only be served by repaying you your money plus the commercial rate of interest – at a compound rate. Normally the 8% is calculated at simple. Thirdly, they are not offering to pay you any compensation and clearly they are hoping to get away with it without any kind of sanction or not even a slap on the wrist.   Fourthly, they had the nerve to impose a seven day deadline. Don't worry about their deadline. It's a load of huff and puff. This is all part of their bluff game designed to intimidate you. At the end of seven days – what? Are they then going to insist on going to court? You can be certain that these people do not want to go to court. In fact they probably wish they had never started. Finally, they want the matter to be kept confidential – and I can't say I blame them. I would be ashamed if people knew that I had treated somebody else in this way and I'm sure they are worried about reputational damage. I'm also sure that there are extremely worried about what will happen if you get a judgement against them for breach of statutory duty. It will have to be reported to the FCA. It will have to be reported to the NCA. And of course it should be reported to the newspapers because people need to know what is going on. If you want, you can simply accept their proposal – get your money back, given confidentiality – and that's the end of the matter. However, you have no idea how this will impact on your record in the future. I imagine that they will bar you from ever opening an account with them again. – But at least you will have your money and you can get on with your life. However, if you want you can stand your ground and make it clear to them that you are going to be mucked around and treated like this and that you are prepared to go to court if they won't make a proper offer. I understand that you need to pay a court fee of about £350 in the next seven days. I expect that the bank is making this offer now hoping to dissuade you from spending any more money and hoping that you will back down. If you have the money to proceed then I would suggest very strongly that it will be a very serious sign of strength that you tell the bank that you're not interested in that you are paying the fee for the next stage of the court process. If the bank knows that you've called their bluff on this and that you have been prepared to invest further money in moving this legal action forward, then they will start to reflect and I can perfectly well imagine that they will make you another more interesting offer – once again on conditions of confidentiality. Without seeing the offer, I'm suggesting already that you will probably be best off turning it down. In any event, I would remind you going back several months that I already predicted that the bank would make you confidential offer – and that has happened. I'm not saying that I'm always going to be right here – but I think that now basically the bank have pretty well admitted that they need to pay you your money, there is no chance of you losing it. You will get your money and it really is just a question of how much else you will get in addition. If you'd like to continue then let me know and I will suggest a draft response to them.
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Hoist Portfolio Holding 2 Limited - Defaulted credit account


Dino404
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I've recently come across some concerning information on my Experian credit file which couldn't have come at a worse time (Applying for mortgages)

 

I've recently had a default placed on my file from a company called 'Hoist Portfolio Holding 2 Limited'.

I've never heard of this company before, never received any correspondence

and my attempts to call them have result in voicemail every time.

 

Having queried this with Experian, i received the following response.

 

"Further to your recent contact, the contents of which have been noted

.Please note this account relates to an unpaid finance account, opened on 20th September 2010, a

t the address of *** *** ***, with Vanquis Bank.

 

 

The account defaulted on 6th February 2014 with the balance of £1,251.35.

 

 

We have reported to the Credit Reference Agency this account is Partially Settled.

We trust this resolves your query as we believe the details registered to be correct."

 

Further to this email, I have some background on this 'debt'.

 

 

It was originally an amount owed to Vanquish who sold the debt to a DCA called The Lewis Group

and any attempts to contact Vanquish always referred my back to the DCA.

 

 

An arrangement was made with The Lewis Group as follows:

 

We can confirm our client will accept payment of £1261.92 in Full and Final Settlement of your account.

This will be reported to the credit reference agencies as satisfied with a zero balance.

 

I have the above information confirmed via email and letter correspondence with The Lewis Group

but am not slightly worried where I currently stand with this.

 

 

I've also come to the realization that Experian are not able to do anything but the initial query on this but not remove any Defaults

(which was what i thought i was paying my membership for :|)

 

I have read up regarding Hoist and the problems others are having with them

but I'm not sure which direction I can go with this considering

i thought it was all done and dusted when i was dealing with The Lewis Group.

 

Thanks in advance

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I don't understand the issue you're having?

 

Have you paid them anything?

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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Oh is it because it shows partial settled and it should be satisfied?

 

Well up until a few days ago there was nothing on my credit file from Vanquish, The Lewis Group or Hoist.

 

I paid the settlement with the Lewis group up until Jan 14 as agreed and receive an email and letter closing the balance at zero. And then when routinely checking my credit file, the default appeared out of nowhere.

 

Sorry I missed the key bit out in the initial post!

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so you had a vanquis card

you defaulted on it

and then you F&F'd with lewis

who wree Lewis's client?

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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The oldest trick in the book unfortunately.

 

Did you have it in writing that they would accept your offer as F&F, AND mark your CRF as satisfied/settled?

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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The oldest trick in the book unfortunately.

 

Did you have it in writing that they would accept your offer as F&F, AND mark your CRF as satisfied/settled?

 

Yes I have email and letter correspondence from The Lewis Grouop that it would be a full and final settlement. An extract below.

 

 

We can confirm our client will accept payment of £1261.92 in Full and Final Settlement of your account. This will be reported to the credit reference agencies as satisfied with a zero balance.

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then sent that email to hoist and give them 14 days to remove the whole new account or you'll start a complaint with the iCO

 

 

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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