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Roddy4852

10k Start up loan debt with Vilcol

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Hi,

 

Please can you let me know how you go on with Vilcol, I am in the same situation with 10k chasing letter that appeared on my doorstep on Saturday, my ex partner arranged the whole start up loan along with spending the money, I just signed on the dotted line.

 

June/Jul 2014 was the last communication I had with the lender.

 

Cant decided to incorporate this into my DMP, query with them and arrange a payment directly or hold out until its statue barred.

 

Thank you,

 

https://www.consumeractiongroup.co.uk/topic/418957-£5k-debt-with-vilcol-collections-they-produced-a-credit-agreement/?tab=comments#comment-5019278

 

 

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Blindly paying other powerless dca's in that dmp??..whyy??


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Hi

 

I am after some advice if anyone can assist.

 

In 2014 my ex partner of 12 years set up a business and applied for a start up loan, I stupidly signed on the dotted line. I didn't spend any of this money. The same year the business was dissolved which I thought the loan went with it.

 

My ex and I separated and I moved.

 

On Saturday I received a letter from Vilcon requesting payment of £9500 on behalf of The Enterprise Fund. This was a complete shock to me, nearly 6 years later.

 

I have looked through old emails and June/Jul 2014 was the last communication I had with the lender.

 

Following the breakdown of my relationship with my ex I was left with a lot of debt which I have a DMP and this is working well form me.

 

I cant decided how to approach this letter, do I incorporate this into my DMP, query with them and arrange a payment directly or hold out until its statue barred (its got to be 2/3 months away)

 

I have spend the last 5 years working hard to rebuild my credit rating in the hope of going on my now husbands mortgage next year.

 

Any advice would be greatly apricated.

 

Thanks

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Ignore them

a dca is not a BAILIFF

 

hope you sent eveyone you are blindly paying in your dmp esp dca,s a CCA request??

 

Dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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By ....

Quote

I stupidly signed on the dotted line. 

 

Acting as a guarantor or business partner ? 

 

Who dealt with the dissolved company ?

 

What are the details of this loan...government funded of private..term of loan ?

 

Andy


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I think as a business partner as my ex was the director of the limited comp.

 

I believe it was the accounts at the time that dissolved the company.

 

I am sure it was the government funded loan.

 

Also in terms of my DMP, I am doing this via payplan and no ones mentioned to me sending a CCA request letter, I shall look this up now, the only DCA I am paying in my debt management plan is PRA Group Ltd for 3 debts totalling £6500 and link Financial ltd for 4231.22.

 

Thanks

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two of the worst fleecers out there..

 

have a read of a few here after the other topics section

 

https://www.consumeractiongroup.co.uk/forum/310-debt-management-plan-companies/

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Very interesting read thank you, I look into writing to these asking to be provided with the CCA.

 

In terms of the The Enterprise Fund debt stated on the letter from Vilcollections, what action would you recommend I take?

 

They havn't bought the debt, there are just chasing on behalf of their "Client"

I've never had statements or any other communication with these or the lender since 2014.

 

The only details this letter has is "The Enterprise Fund" and the balance due.

 

To be fair I moved out of the address they had for me 5.5 years ago, a part of me believes they are waiting for me to respond to see if they have found the correct person.

 

Thanks,

 

 

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as post 5 ignore them.

 

a for CCA requests

 

everyone you are paying has 12+2 days to comply 

 

 

list your debts please

 

original creditor

type of credit

when taken out

how much outstanding

is this defaulted

who you pay now.

 

dx

 

 

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Thanks I shall ignore,

 

Please see below as requested

 

Original Creditor

 

 

 

Credit now with

 

 

 

Balance

 

 

 

Debt Type

 

 

Date opened

 

 

 

Date Defaulted

  Barclays 128 Overdraft 07/09/2020 18/11/2015
Barclays Link 4108 Credit Card 20/07/2020 14/09/2016
  MBNA 2525 Credit Card 16/03/2020 31/03/2016
  Next 711.72 Store Card 20/09/2010 13/07/2016
RBS PRA 418 Overdraft 06/08/1998 05/07/2016
RBS PRA 467.51 Credit Card ?? ??
RBS PRA 5624 Loan 27/09/2013 05/07/2016
  Talk Talk 240.23 Comms 08/07/2015 22/11/2016

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8 hours ago, Roddy4852 said:

Thanks I shall ignore,

 

Please see below as requested

 

Original Creditor

 

 

 

Credit now with

 

 

 

Balance

 

 

 

Debt Type

 

 

Date opened

 

 

 

Date Defaulted

  Barclays 128 Overdraft 07/09/2020 18/11/2015 - do you still bank with them?
Barclays Link 4108 Credit Card 20/07/2020 14/09/2016- send a CCA request
  MBNA 2525 Credit Card 16/03/2020 31/03/2016- drop to £5PCM
  Next 711.72 Store Card 20/09/2010 13/07/2016- drop to <£5PCM
RBS PRA 418 Overdraft 06/08/1998 05/07/2016- STOP PAYMENT NOW. 
RBS PRA 467.51 Credit Card ?? ??                  - send CCA request
RBS PRA 5624 Loan 27/09/2013 05/07/2016- send CCA request
  Talk Talk 240.23 Comms 08/07/2015 22/11/2016- stop payments now

 

 

pers i'd dump PP immediately 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Posted (edited)

About a year ago I assisted a friend who had a debt management plan by writing to every creditor of which there where ten. Not a single one could produce supporting documents to assert their claim to the money!

 

Needless to say he stopped the plan, and the payments and the creditors have been unable to persue further.

 

Just saying!

Edited by comebackjimmy
Grammar

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So back to your initial post with regards to the Enterprise Fund Debt...bear in mind that it will be exempt from the CCA 1974 as its a B2B finance loan and must be treated differently...statute of limitations would still apply and that will be fast approaching hence the chase by Vilcol (Oct 2020)

 

Of course if it was included within the LTD Company Dissolution...then its dead anyway....but check to see if it was.

 

B2B finance are covered by the RAO: The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001,

 

The exemption relating to business (previously s.16B of the CCA 1974) is now contained within article 60C of the RAO and states that the agreement is an exempt agreement if (a) the lender provides the borrower with credit exceeding £25,000 and (b) the agreement is entered into by the borrower wholly for the purposes of a business carried on, or intended to be carried on by him.

 

Andy


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Thanks DX, following your previous comments I have looked up the CCA letters and prepared them for the DCAs, I have also prepared letters for F&F for the others offering 20%.

 

Thanks, Comebackjimmy, If I didn't need my credit score to improve I would have the balls to cancel, however I have 2 years until the defaults expire and need to go onto a mortgage.

 

Thank you for your response Andyorch, I don't think it was included in the company being dissolution. The amount was £10,000 so less than £25,000.

 

This really isn't my area of expertise so unsure how to approach this letter from Vilcol,  Dx advised to ignore which I am happy to do, and I can wait to see if I get a court letter from them enterprise fund? like ive said above I need keep my credit score clean so cant be getting any CCJs.

 

I really appricate everyone's advise.

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pers i'd not be F&F'in without checking the bills/sums are not inflated by unlaeful charges and monthly costs till end of contract ..

 

which are you F&F'in…??

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I was going to send F&f letters to 

 

Barclays 

MBNA

Next 

Talk Talk
 

would you suggest writing asking for a breakdown of the outstanding balance?

 

Next are the only ones which send me a monthly statement.

 

thank you for your help

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Quote

Thank you for your response Andyorch, I don't think it was included in the company being dissolution. The amount was £10,000 so less than £25,000.

 

Irrelevant that it was less than £25K....(b) the agreement is entered into by the borrower wholly for the purposes of a business carried on, or intended to be carried on by him.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your thread please PM me a link to your thread

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Ok thank you, so how would you recommend I approach this letter? Ignore and see what happens. From what you said I understand that I can’t send a CCA letter however unsure how it being exempt changes the situation, this is all new to me. Sorry if I sound daft!

 

 

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So...as your ex partner been contacted about it ? Why was it not included in the Ltd Company debts ?

Why did you have to sign the agreement ?

 

As said it is approaching Statute Barred if you can string them along till October


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

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No I don’t believe so and I don’t think he will have been, I think it is classed as a unsecured personal loan. 
 

I signed for it as he didn’t have a credit rating good enough to get it.

I am buggered really arnt I !

 

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no..

 

as long as you've not moved since signing it.

 

……………..

 

Quote

 

I was going to send F&f letters to 

 

Barclays 

MBNA

Next 

Talk Talk
 

would you suggest writing asking for a breakdown of the outstanding balance?

 

Next are the only ones which send me a monthly statement.

 

thank you for your help

 

 

send each an sar.


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Yes I’ve moved twice PayPlan must be updating them with my address as I have received a settlement off from a debt ivr now settled 

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no you need to update everyone that thinks you owe them money individually

 

so either by a CCA request

or a simple letter informing them of your new address.

 

that's explains the Vile collections phishing letter now.

you run the risk of Backdoor CCJ's you'll know nowt about.

BUT you write to the Original creditor/client of a DCA, unless they show as the owner of the debt on your credit file.

 

by your self help that I directed you too earlier, you should have already spotted this....

 

dx

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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All other debt have my new address or will do once I have sent the cca and settlement letters.

 

the Vilcol which is my biggest concern I wasn’t aware was outstanding therefore didn’t know to inform, if I’d known about it I’d have included it in my dmp 4 years ago.

 

i feel I need to acknowledge this letter in some way so I don’t get a surprise ccj, I just don’t want to reset the SB timer does that make sense

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I would not be sending settlement letters until you have sar info.

 

as for viledca...as I sais simply write to the original creditor.

 

 

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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