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nacro

been with Money Plus formally Debtfreeme for years - now CCA time!!

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Hi

I am new to the site and just learning how to navigate the forums.

 

Hoping I am now in the correct place to get some helpful advice.:?:

 

I have 4 very historic debts being managed for the past 6-7 years by CABOT and 1 with PRA.

 

In the past few weeks,

I requested a CAA and SARs from both which was a very revealing exercise.

 

Low and behold:!:

CABOT replied saying they could not find CAA for 3 historic debts so these are unenforceable but that I should continue with my monthly payments to my DMC.

 

PRA replied very differently saying "current accounts do not require credit agreements and therefore no credit agreements have been set up when opening the account".

 

How can these 2 Debt Companies behave and respond differently:?:

I now plan to stop monthly payments to CABOT and would like your advice if there will be consequences!

 

I am currently 70+ in poor health and want to be debt free in 2019:!:

I have also sent GP medical and Cardio reports to both companies but did not receive any compassionate response:sad:

Many Thanks for any advice and direction given.

 

nacro:help:

Edited by dx100uk
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It would be helpful if you would space out your posts a bit more. It is quite difficult to read blocks of text on a screen and it tends to discourage people from getting involved and giving their help.

 

Thanks


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spaced for you.

 

theres little point in ever sending an sar to a DCA..

 

pers id stop paying everything.

 

you say DMC, I hope this is not one of the fee paying ones is it?

cash cowing even more money out of that I doubt ever went off the debts and paid for everyones xmas parties all the years you've been blindly using them to pay their mates they often worked for in the various DCA's.


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For the ones with cabot. stop paying and ignore them. If they cant get the CCA then theres nowt they can do


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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Thanks, Cagger and renagadeimp

Very helpful advice on both accounts and just confirms what I was planning to do with CABOT. Was less sure about PRA. The SARs sent to both has proved useful as it exposed a number of admin irragularities with both which could be useful and as a back up if any further action is taken.

 

 

nacro :amen:

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who's the DMP with?


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Money Plus formally Debtfreeme....and paying £46 per month. Unfortunately when I first got into debt knew very little about similar consumer groups as youself!

nacro

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Ditch the DMP now. That money is wasted and could be used for legit debts. They wont care if those debts are enforceable or unenforceable. They just want your money.


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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yep dump them NOW

just stop paying them.

send them an sar too!!

there will be a hidden pool they've taken for a full and final settlement pond that you didn't even know about

in all truth its their daily drinkies money

you want evidence of that

but DO NOT TELL THEM WHY YOU WANT THE SAR.


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thread title updated


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

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Money Plus formally Debtfreeme....and paying £46 per month. Unfortunately when I first got into debt knew very little about similar consumer groups as youself!

nacro

 

 

If this is the same company, I would dump them now. Check out their fees. Extortionate I feel

 

http://tinyurl.com/ya2uw7qm


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49% of the monthly payment for their own pockets? scandalous


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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Thank you all for this helpful advice which has now given me the confidence to stop all current payments.

 

I have already got a SARs from both CABOT (showing one of the debts had been written off last year due to being a vulnerable person!!)

However when I read the PRA SAR I noted a discussion in the debt team which made an assumption re one of my Bank Statements saying

"I appeared to have other income posssibly from a rented source" when in fact I had got this from extra work income during that time...

 

.when pointed out they apologised but is this good enought and professional when discussing vulnerable debts?

 

nacro

Edited by dx100uk
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they have no business having nor discussing your pers details.

 

dx


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thanks...especially when they get it wrong/false assumption....can this be reported or kept as "dry powder" for use if needed later on?...so SARs can be very very useful

 

nacro

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let things run.

 

dx


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

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1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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Ta....will do and keep you updated.

Also when I sent my GP and Cardio reports to both CABOT and PRA which was turned down so I asked that a competent medical person assess these. This again was turned down saying "this was not needed as team was experienced in these matters"..should we be campaigning for this to change from experienced amatures to medical professionals doing Health Aassessments?

 

nacro

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Ta....this managing of debts seems to lack real transparency....competency of staff/ admin errors/how final decisions are made etc and to think firms like CABOT wanted to register on the Footsi 100 last year:-x

 

nacro

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Debt collection agencies work purely on numbers-nothing personal. They will buy a portfolio of debts for pennies on the pound. If a debt is newer [say, around 18 months old] the buyer will pay more than for debts nearing a six year old mark.

Other companies will buy debts that are being repaid to the original creditor and are fairly sure that the repayments will continue under the new company.

 

Some companies have a welfare department who will listen to debtors and make decisions based on that (and written evidence) whereas some others don't bother at all-it's all about the numbers.

 

It's no wonder that debt collection agencies make good profits once the facts are known.


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Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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Thanks, Silverfox for this information and education as I am now beginning to understand better how these debt collection agencies work esp how they assess and price debts older then 18months. As most of my debts are 7plus years they must have bought them for very little so currently making a nice profit from my distress:violin:

I am afraid the welfare depts in both PRA and CABOT were not very sympathic in my case even though I sent GP and Cardio reports. Do you know if there is cut off time for debt collection. In my previous life I managed a number of homeless exoffender hostels and every year it was our custom to write off all bad debts and begin anew in the new financial year!!

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" Welfare depts in both PRA and CABOT were not very sympathetic in my case "

 

Welfare Depts...and Debt Buyers...think you you need to read a bit more :wink:


We could do with some help from you.

 

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agreed but where would be a good place to start to read and learn. Because of my own debt situation, I am now intrigued as to how this debt industry functions with the buying and selling of debts (peoples distress) as if these were just another comodity like a tins of beans or better still toilet rolls:sad::sad:

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biggest financial industry there is the buying and selling of debts portfolios.

if everyone stopped paying DCA's the whole industry would collapse tomorrow.

 

nothing better than our search cag box here nacro.

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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

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

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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