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marley100

debt acknowledgment??

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good evening all,

 

I am close to the end of a six year default by Natwest on an "alledged" loan. They have been unable to locate the original credit agreement rendering it unenforcable.

 

I have been reading about the 6 year time limit but am usure on a certain aspect. It states that the 6 years can start again if a payment has been made or if you have acknowledged the debt in writing. I would be grateful if someone could clarify what constitutes "acknowledged". I last wrote a without prejudice letter to them in November 2010. I stated in the letter that i am writing on conjunctio to their previous letter regarding an alledged loan. Does this constitute acknowledgment? and if so does that mean that the time starts from the date of this letter.

 

No payment has been made for over 6 years. I am considering sending them a statute barred letter but am worried that this may also be taken as acknowledgment?

 

Any advice would be greatly received.

 

Many thanks.

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You'll need to give more detail about the letter you wrote


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Hi,

 

The letter was dated 11th Nov 2010 and without prejudice. and related to asking them under what authority they are passing my details to a third party (credit reference agency) and asking them to stop this activity. I referred to the loan as an alledged loan.

 

Thanks

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Hi

Can you tell us if it is the original creditor(nat west) or a debt collection company who have made the recent enquiry ?


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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It is Natwest. however, I recieved the normal 'you still owe this money' letter from RBS today. It was from their debt management operations dept.

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Was this a fixed sum loan ?

 

If so when did the term of the agreement expire ?

 

You say that they cannot supply a copy of the agreement , does this mean that you have asked them for a copy before, was this via a section 77 request?

 

Sorry for all the questions, just trying to get a clear picture.


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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Hi,

 

Yes it was a fixed sum loan Taken out in July 2007 for a period of 96 months. Yes, a section 7 request mas made in July 2009.

 

Thank you for your time.

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Any chance you can post a copy of this letter?


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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Thanks, was the loan secured and was it for over or under 25K.

 

Also can you clarify, was the request for information made under section 7 of the data protection act or section 77 of the consumer credit act. ie.

Did it cost you £10 or just £1 ?


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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the loan was not secured and it was under 25K and it was made under section 77 of the CCA

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Just a couple more questions, when was your last payment on the loan and did you receive a default notice at any time, if so do you have a date ?


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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Hi,

 

The last payment was september 2009 and yes I received a default notice dated November 2009. Deafault actually registered Feb 2010

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OK thanks for all that

 

The fact that they have not responded to your section 77 requests renders the agreement temporarily unenforceable under section 77(4) of the consumer credit act. ( That is until they produce a true copy). the fact that it was for under 25K means that it was regulated under the CCA so this would apply.

 

The loan itself will be subject to section 5 of the statute of limitations 1980 and the period between the cause of action and the commencement of proceedings cannot be more than 6 years. Ther COA is generally accepted to be the last payment although sometimes they will say it is the default notice date, you seem to be clear in any case.

 

To reset the COA there must be a written "unequivocal"acknowledgment or payment made in the intervening period,(section 29 of he sol) a payment after this period will not count. From what you've said your note in 2010 would not count although as BF says it would be as well for us to have a look and make sure.

 

If I were you I would send the SB letter with the proviso of the last paragraph.


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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Thank you so much for your advice. I will send you the letters for further consideration. I will try and do this tomorrow.

 

Thank you once again. you have been very helpful.

 

Best regards.

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