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Simon1959

Link and CCA failure - old Barclaycard debt

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I Have browsed this forum and picked up some valuable information ,

 

one thing that puzzles me is if you owe say barclaycard some money ,

why do they sell the debt on to a DCA to collect the money rather than just take you to court themselves ,

and also i have seen on some threads that the sum of over £5000 is relevant why is this

Thanks in Advance

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Has always puzzled me to.

But I think the answer is that banks generally don't want to be debt collectors themselves.

 

They have too many debts on their books and would rather pass the debts on to a DCA to chase for them or sell the debt off to them.

 

They can write off the debts against tax and it is off their accounts.

 

Re the £5000, isn't this something to do with which court process can be followed and what the costs would be.

Over £5k and I think the court costs are higher.


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If an OC ramps up the charges and then sells the debt they can with clever accounting get a very large percentage of the "debt" back off the taxman, why wait years to get it in dribs and drabs when you can write it down to tax?

 

It also helps perpetuate the commonly held myth that the high street banks are "nice" organisations if they aren't seen to be hounding members of the public for alleged debts, many of the banks set up their own DCA first eg Blair Oliver Scott, (Bank of Scotland) in order that the less perceptive of the public thinks those harrassing phone calls are nothing to do with the bank


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Jasper1965

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it's cheap and leaves the creditors

books nice and tidy.


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Claims under £5,000 are held in the small claims courts and costs are minimal.. should the defendant lose.

 

 

I believe there is a move to increase the amount for small claims to £10 - 15,000 soon. Which will be helpful to the likes of those who are then going to issue claims AGAINST the banks for PPI or default charges claims.


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From what I have gathered most banks will have an internal collections department but it will be pretty basic.

 

By farming it out to an agent the agent can spend all the time and money trying to recover the debt and little risk to the original bank. For exmaple the bank may say the agent can keep 50% of whatever is collected but if nothign is collected they do not pay them anything. The debt collector will also have more resources and knowledge in the field of debt collecting - so the original bank doesn't have to take on the risk or expenditure of having a big itnernal colelctions dept.

 

Using specialist agencies is very common in business and I doubt debt collectors are the only external agents banks use.

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I have just received a statement of account from Link for the old Barclaycard debt

 

It shows the last payment was a pound which was the pound for the CCA request

I still havnt received a CCA

 

Varde replied saying the account was on hold and they wouldn't be collecting on it until they had located the CCA

 

PRA have written to me saying they are now collecting the debt I've ignored them should I send a CCA request to them

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New thread as advised

Sent CCA request to them heard nothing so stopped paying

I have received a statement of account which shows the last payment as £1 which was the postal order for the CCA request

Is this significant or just them being awkward

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sadly what link always do

immaterial.

 

was you actual last payment date?

does this show on your credit file?

if so what is the defaulted date?


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Shows on credit file as Link the original card was with Barclaycard this is on there in the closed section with zero owing

There is no default showing although it was defaulted about 7 years ago

Last payment was about 1 year ago

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have you written proof of the default 7yrs ago?

if so the debt should not be showing at all.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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If the last pay't showing was the £1 CCA pay't incorrectly paid to the a/c, and you paid nothing else in the last 7 years, the a/c is SB'd !

 

Let them do whatever they like - you have a clear defence against any possible action they may take.

 

:-)


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Last payment was a year ago I'll have to dig around to find the default notice from Barclaycard

If I can't locate it I'll SAR Barclaycard and hopefully get it from them

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Please confirm, have you paid anything other than the £1 CCA fee in the last 7 years.

 

Probably no need for another SAR for now. If necessary you could call for the info you need.

 

:-)


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Last payment other than the £1 was a year ago after they failed to supply a CCA

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Ok, so if you paid to the a/c (other than the CCA fee) a year ago, it will not be SB for years.

 

However, if the a/c was defaulted over 6 years back, it should no longer be showing on your CRA records and therefore no longer harming your rating.

 

:-)


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as post 10


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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I have a mountain of paperwork but at present I can't find the default notice

I may have to contact Barclaycard

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Letter from Link today asking if I was having difficulties paying or had simply overlooked my payments and to ring them and they will sort it all out for me

 

Still not received a signed credit agreement though

 

There not even acknowledging that I've asked for it

 

The default notice was issued july 2012 so should drop of my credit file next month

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" and they will sort it all out for me "

 

Im sure they would :becky:

 

Ignore


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Can't see them getting a signed credit agreement

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Not sure they know what one is :madgrin:


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Letter from Link today

Informing me that I am in breach of my agreement

if I don't pay the arrears then further action MAY be taken against me

 

This is to terminate the account and demand full payment and to commence court proceedings against me

 

Also we will tell the credit reference agencies of your default which will be entered on your credit report

 

Am I correct in thinking that they can't default it as Barclaycard have already done it before selling it on

 

Also they still haven't sent me a signed credit agreement

Edited by dx100uk
Spacing

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Correct

That plink for you


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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I take it This just a wait and see situation then

Should I prepare myself that they may take a chance in court

If that's the case would It be wise and to send Barclaycard a SAR

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