Jump to content
Parcel delivery insurance is prohibited under section 57 – Consumer Rights Act – Read about It Here and in The Times. ×


  • Tweets

  • Posts

    • Alfy
      Iva with Hanover now been passed to credit expert

      By Alfy · Posted

      Feeling tempted to cancel it now but scared that some of the debts will do more Ccj on me and I'll have to wait 6 years again.  2 of the Ccj come of this year and then I'll only have the iva in credit file - so effectivly if I'd have not took out the iva I 2021 I'd have clear score by now - but then again would I because I would have been hounded the last 3 years so as bad as it is it's saves me lots of headaches whilst my debt was still within the 6 year mark.  I think most of them are near there but in all honesty no point chasing them if I do cancel iva I'd jjst wait for the ones who contact me and then start the relevant letter process on them.  Of over 6 years easy if not still possible to write off.    My true victory would be having the iva wiped off my credit file as misold or something that way I. Don't have to wait till 2027 Other option is to fight back and ask for them to offer the creditors to accept payments so far and use the following method    Will your IVA firm agree to complete your IVA on the basic of funds paid to date? The Guidance lists a lot of factors to be considered in deciding whether a settlement on the basis of funds paid to date should be proposed. You should read the list. But that may not give you any feel for whether they apply to you or not. The following are my thoughts on when an IVA should be treated as settled, not failed. They assume that you have £75 or less to pay a month: if you would currently qualify for a Debt Relief Order, then your IVA should be settled now  There is no point in making your IVA fail and you have to apply for a DRO – it will not generate another penny for your creditors. If you are renting and owe less than £50,000, check the DRO criteria now and talk to National Debtline on 0808 808 4000 about whether you qualify. You may have been told at the start of your IVA that you aren’t eligible – still check now as the DRO criteria have changed, your situation has got worse, and some people were given incorrect information about DROs at the start. if you have no assets that would be realised in bankruptcy (eg a house with equity, car worth over £2000), then your IVA should be settled now Same as (1), there is no point in making you apply for bankruptcy after your IVA fails. if your only asset is a car that is worth less than £8000, then your IVA should be settled now A car that is worth say £5000 would normally be sold in bankruptcy and you would be given a small amount to buy a cheaper car. But your creditors would not get any benefit from this as the Insolvency Service takes the first £8000 raised to cover its own costs. if you have significant assets, the closer you are to the end of the IVA, the less reasonable it is to fail it If you have been paying your IVA for 4 years, you have done your best over a long period. It isn’t your fault you can no longer continue. The fact you may have had equity to release isn’t relevant as that simply isn’t going to be possible. if your situation will clearly improve soon, then it’s unlikely your IVA will be settled I mean real improvements, not hoping that prices fall. If I can get them to accept payment to date or threaten with cancellation hopefully they may accept it -    Other option is to try and borrow money and pay make a full and final offer    Or I can just ignore and hope for the best which I'm very tempted to do especially if they respond to my review with bullying tactics despite me being skint as a fart with no mortgage as renting    It's so stressful but I've just checked the iva agreement from 2021 and it's Cabot 2 account Lowel about 5 accounts and then lots of repeats of the same debt with for example zopa and Cabot same amount listed twice -  also loyyds banks but I'm sure that's older than 6 years and not on credit file anyway    If I can somehow remove the iva from my creitt file I'd be happy   
    • Alfy
      Iva with Hanover now been passed to credit expert

      By Alfy · Posted

      Sorry I meant credit fix - I really wish I'd known this before - kicking myself right now  If they come back to me asking for more money I'll cancel it and start trying to deal with the debt myself let's see what they say 
    • NewsBot
      India's economy: The good, bad and ugly in six charts

      By NewsBot · Posted

      India has one of the world's fastest growing economies but the benefits are yet to fully reach the poorest.View the full article
    • NewsBot
      Tatti Lashes founders: 'We've got four GCSEs between us'

      By NewsBot · Posted

      View the full article
    • dx100uk
      Parking Eye 2 x ANPR PCNs - two different vehicles - PAPLOC now claimforms - Kenwood House, Tunbridge Wells - one claim discontinued one ongoing

      By dx100uk · Posted

      any news on your case? dx

  • Recommended Topics

  • Our picks

    • If you are buying a used car – you need to read this survival guide.

      BankFodder posted a topic in Vehicle retailers and manufacturers,

      If you are buying a used car – you need to read this survival guide.
        • Like
      • 1 reply
      BankFodder

      Picked By

      BankFodder,

    • Big Motoring World Enfield /Blackhorse - done over on car - @BigMotoringWrld

      ATJ posted a topic in Vehicle retailers and manufacturers,

      Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
      BankFodder

      Picked By

      BankFodder,

    • A2Dominion - Housing Association property flooding - damning ombudsman report

      WanTToMoveOn posted a topic in Residential and Commercial lettings/Freehold issues,

      Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
        • Like
      • 161 replies
      WanTToMoveOn

      Picked By

      WanTToMoveOn,

    • Post in Suing a parcel delivery company when you don't have a direct contract with them – third-party rights Copy of judgment available

      BankFodder posted a post in a topic,

      We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like
      BankFodder

      Picked By

      BankFodder,
    View All

  • Recommended Topics

Twitter X - Include the @company's twitter name in your post title – here's why…
The UK Stands With Ukraine - 'Slava Ukraini'
Parcel delivery insurance is prohibited under section 57 – Consumer Rights Act – Read about It Here and in The Times.

Friends NatWest loan - have MISFILED the Consumer Credit Agreement

Let Them Knock

By Let Them Knock
in NatWest Bank

 Share
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4157 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Let Them Knock

Let Them Knock

Posted
Posted

As said elsewhere, I am endeavoring to help a friend who 'inherited' a lot of debt when her marriage failed.

 

As a matter of course I (she) made CCA requests to all her creditors.

 

One item was a personal loan. This loan was a consolidation of her current account and previous loan, made in 2005. It went into arrears is is being paid off at £10 a month under a self administered Debt Management Plan. The current balance is £13,500ish.

 

Today a reply came from NatWest saying they had 'misfiled' the original agreement. It also said "Our record of setting up the loan has insufficient detail to enable us to recreate the agreement with the required degree of certainty that is required".

(I am struggling to upload an image of this letter - please bear with me)

 

The last default notice for this loan was in April 2008.

 

My original intention was always to get F&F settlements on all her debts. NatWest turned down my initial offer of £2,100 a few months ago so the £10 monthly repayments have continued.

 

Fredricksons have now got there fingers on this and are trying to pile the pressure on - they either don't know or don't care that a DMP is already in place.

 

I want to avoid a new default notice being issued and I want to get into the best position I can to negotiate a (small) F&F settlement.

 

What should I do next?

 

Advice welcome, please.

 

 

Link to post
Share on other sites
  • Replies 62
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Bandit127

Bandit127

Posted
Posted

Personally I would want to verify the amount claimed is correct for any new DCA - including Freds. Since you do not have access to the original agreement you can no longer do this.

 

Send Natwest and Freds a letter saying that you cannot verify that the sums they claim are correct and you are disputing them. Therefore the account is in dispute.

 

Remind them that OFT guidance obliges them to stop all recovery activity while they resolve your dispute.

Link to post
Share on other sites
Let Them Knock

Let Them Knock

Posted
  • Author
Posted
Personally I would want to verify the amount claimed is correct for any new DCA - including Freds. Since you do not have access to the original agreement you can no longer do this.

 

Send Natwest and Freds a letter saying that you cannot verify that the sums they claim are correct and you are disputing them. Therefore the account is in dispute.

 

Remind them that OFT guidance obliges them to stop all recovery activity while they resolve your dispute.

 

Presumably, this would also stop a default notice too?

 

 

Link to post
Share on other sites
Bandit127

Bandit127

Posted
Posted
Presumably, this would also stop a default notice too?

Not sure - I have 2 accounts in dispute with a DCA. They have gone completely quiet but are still reporting on my credit file. I don't know if this is recovery activity or not.

 

I do know that only one default can be issued. The DCA can (and will) put their name against it if they purchase the debt, but the default date and sum should not change.

 

They will carry on marking the monthly update of that account in some way. A DF in a nice red blob in my case...

Link to post
Share on other sites
BRIGADIER2JCS

BRIGADIER2JCS

Posted
Posted

What the bank is saying is that they can produce a compliant reconstitued agreement.

 

There cannot be another default, one debt one default one default date end of story, a DCA can/must update the entry with their information but CANNOT change the default date.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites
Mike_hawk

Mike_hawk

Posted
Posted
What the bank is saying is that they can produce a compliant reconstitued agreement.

 

There cannot be another default, one debt one default one default date end of story, a DCA can/must update the entry with their information but CANNOT change the default date.

 

Afternoon Brig

 

Did you mean can't not can?

Link to post
Share on other sites
BRIGADIER2JCS

BRIGADIER2JCS

Posted
Posted

The letter clearly states that they have enough data from the setting up of the account to recreate (reconstitute) the agrreement.

My guess is the will do so at some point.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites
Mike_hawk

Mike_hawk

Posted
Posted
"Our record of setting up the loan has insufficient detail to enable us to recreate the agreement with the required degree of certainty that is required".

 

Does that mean they can or cannot reconstitute the agreement?

 

I vote no, it can't currently comply

Link to post
Share on other sites
Let Them Knock

Let Them Knock

Posted
  • Author
Posted
Looking at their letter, they can do nothing. They may sell it on but it's easily batted away.

 

Should you want to offer a F&F, your have all the cards.

 

Just to give me some further clues on what F&F might be acceptable, does anyone know what sort of 'selling price' a debt like this would have, if they sold it on?

 

I think I should say, "I am beginning to smirk a bit". :-) :-)

 

 

Link to post
Share on other sites
robcag

robcag

Posted
Posted
Just to give me some further clues on what F&F might be acceptable, does anyone know what sort of 'selling price' a debt like this would have, if they sold it on?

 

I think I should say, "I am beginning to smirk a bit". :-) :-)

 

I'd just ignore it. Your friends CRA file will be trashed anyway.

 

Continuing to make payments will only prolong the date when the debt also becomes SB.

 

Rob

Link to post
Share on other sites
BRIGADIER2JCS

BRIGADIER2JCS

Posted
Posted

Rereading that apologies no the CANNOT reconstitute an agreement, but the debt still subsists and they can still report to the CRAs and pursue for payment, I cannot advise debt avoidance, the decision must be yours entirely from here on.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites
Let Them Knock

Let Them Knock

Posted
  • Author
Posted
Rereading that apologies no the CANNOT reconstitute an agreement, but the debt still subsists and they can still report to the CRAs and pursue for payment, I cannot advise debt avoidance, the decision must be yours entirely from here on.

 

Thanks for that Brig.

 

Debt avoidance was never part of the plan however, a suitably low F&F settlement would save the trouble of chasing unfair charges that were levied on previous debts that were rolled forward into this one.

 

Advice on how best to get a low F&F would be appreciated.

 

 

Link to post
Share on other sites
BRIGADIER2JCS

BRIGADIER2JCS

Posted
Posted

Points of caution on F&F offers.

Work out what you are able to afford to offer.

Start low to give yourself room to negotiate 7.5-10% of OS balance.

If the offer is rejected raise it by no more than 5-7.5 % if this is rejected, request the creditor to state what they want, then negotiate down from there.

Do not attempt to send any money saying this is my F&F if you cash the cheque I will assume you agree, it wont work the will cah the cheque and pursue fot the balance.

You MUST get their unequivical agreement to your offer in writting and they must agree that any remaining balance is not sold at any time to any 3rd party.

An agreement should be reached regarding the CRA entries best get them to remove all adverse data 2nd best to mark the entries settled.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites
Let Them Knock

Let Them Knock

Posted
  • Author
Posted
Yes, thanks from me too Brig - excellent.

 

Let Them Knock - I assume you are familiar with the pitfalls of the F&F process? If not, National Debtline have a good article here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

 

Thanks Bandit - I had seen it but is handy to have it attached here. It will be getting some scrutiny soon methinks.

 

 

Link to post
Share on other sites
 Share
Go to topic listing

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


Follow: @real_CAG

Navigation Links

Welcome
CAG Community Centre
CAG Library
Banks & Credit
Other financial Institutions
Retail
Non-Retail
Work & Social
PayDay and Short term Loans
Debt
Motoring
Legal

Latest

Our Picks


Help and Support

CAG Library
Questions about This Site
Change your notification sound
Change your profile picture - FREE!


Useful LInks

County Court Forms
MoneyClaim Online
CPR - Pre-Action Protocols
Civil Procedure Rules
UK Legislation
Youth Consumer Service

Reclaim the right Ltd

registered in the UK
reg.05783665
reg. office:-
262 Uxbridge Road, Hatch End
England
HA5 4HS

The Consumer Action Group

The National Consumer Service
×
×
  • Create New...