The Enterprise Fund. 10k Start up loan debt being chased by with Vil collections DCA

[Roddy4852]

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

 

 

[dx100uk]

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

[Roddy4852]

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

[dx100uk]

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

[AndyOrch]

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

[Roddy4852]

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

[dx100uk]

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/

 

[Roddy4852]

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,

 

 

[dx100uk]

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

 

 

 

 

[Roddy4852]

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

[dx100uk]

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 

[comebackjimmy]

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 April 15, 2020 by comebackjimmy
Grammar

[AndyOrch]

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

[Roddy4852]

 

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.

[dx100uk]

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…??

 

 

[Roddy4852]

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

[AndyOrch]

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.

[Roddy4852]

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!

 

 

[AndyOrch]

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

[Roddy4852]

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 !

 

[dx100uk]

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.

[Roddy4852]

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 

[dx100uk]

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

 

 

[Roddy4852]

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

[dx100uk]

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

 

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