Help Please ! RBOS - 1st credit Ltd - DCA

[Bouncing back !]

Hi

 

If anyone could help, advise or point me in the right direction that would be great !

 

My hubbie took out financial agreement some 5yrs ago with RBOS for a van (yes white LOL ) we defaulted...it was taken back. We then paid monthly what we could I cant remember exact dates & £'s...... and to whom ! But for everlong I can remember we have been paying a particular DCA......we defaulted in June 06 of this year due to (like most) Financial hardships.....yes we were at fault ignored DCA letters etc....so subsequently they issued (signed for) Statutory Demand under section 286 (1) (a) of the Insolvency Act 1986. Debt for liquidated sum (rule 6.1)

Due to the very nature of this horrible item we phoned & negoiated a sum to stop the proceedings....furthermore a monthly sum to stop them enforcing it.

However, on finding out about this site (truly remarkable) I deceided to read thru said doc again and noticed that :

The creditors are : 1st Credit Ltd.....that the DCA are their credit consultants? That the debt has been assigned under an agreement to 1st Credit Ltd.

My issue's are : we would like to know exactly how much we owe and how much of this debt is made up of charges !! (We only know how much owe via DCA.)Which we might be able to reclaim ! Also neither of us remember being informed that the debt had been reassigned....did we have a legal right to know? I know this situation is long winded my apologies...I have looked through the forum....came up with sending 1st credit ltd a request under the cca act? and to write inform DCA of our intention ! Just would like some clarification...if anyone can help....many thanks...

 

Keep smiling....

 

x

[Bouncing back !]

HI

 

Anyone out there that can advise ? Just want to make sure I have the above in the correct squence of events to pursue:

1) send 1st credit Ltd ....DPA. SAR £10.00

2) send DCA a CCA request £1.00

 

Sorry for impatience try to sort before school run LOL

 

Thanxs again

 

x

[demon_x_slash]

Yep. Then sit back and wait. Try to relax

 

Edit: sorry, my quick typing - to clarify, the above referred to the SAR and CCA!

[LondonPam]

I'm afraid as it's a statutory demand that has been served on you then you really must act on it and should not sit back and wait to see what happens. I have copied below some information about what these demands mean and what you would be adviced to do. There are grounds to get it set aside and I think thats probably your best bet. Hope it helps.

 

 

Statutory Demand

 

A statutory demand requires that the debtor either:

• Pays the relevant amount

  
  

• Offers to secure it against property

  
  

• Offers to repay the debt in a way that is satisfactory to the creditor. For example, by instalments.

  
  

Some creditors use statutory demands as a way of persuading debtors to pay off the debt, usually by borrowing elsewhere.

However, statutory demands should be taken seriously. After 21 days the creditor can petition for a bankruptcy order. Therefore, it is usually worth contacting the creditor by telephone and asking them what their next step will be.

Ignoring a statutory demand may encourage the creditor to petition for bankruptcy. It is worth bearing this in mind, particularly if the debtor is contemplating petitioning for his own bankruptcy.

If the debtor wants to avoid bankruptcy he should consider:

• Making payment(s) to reduce the debt to less than £750; or

  
  

• Making an offer to pay by instalments; or

  
  

• Making an offer of a reduced amount in settlement of the debt; or

  
  

• Applying to have the statutory demand set aside

  
  

Setting aside a statutory demand.

21 days after the serving of the statutory demand, the creditor can petition for the debtor’s bankruptcy unless it has been ‘set aside’.

An application to set aside the statutory demand can be made if:

• There is a substantial dispute about the money owed;

  
  

• There is a counterclaim of more than the money owed;

  
  

• The creditor holds security that equals or exceeds the debt in value;

  
  

• On ‘Other Grounds’. Though not defined, these can include:

  
  

1. The demand was issued in error, e.g. for a secured debt or for an amount of less than £750;
   
2. Execution has been stayed on a judgement;
   
3. The debtor is complying with an instalment order (so the debt is not strictly due); and
   
4. The creditor failed to comply with the rules and prejudiced the debtor in the process;

An application to set aside must be made with 18 days of the statutory demand being served. Forms 6.4 (application) and 6.5 (affidavit) must be completed and taken to the court. However, the court can dismiss the application if there are no grounds.

If there are grounds, a hearing will be arranged at which the court will decide whether the demand will be set aside.

If the debt falls under the Consumer Credit Act 1974, the court should also consider if any relief is available to the debtor under the Act. This would include a time order application.

[Bouncing back !]

Hi Pam

 

Many thanks for your advice...much appreciated. We did contact DCA & paid a lump sum to stop them taking further action & agreed a pcm amount. They wrote & confirmed that no action will be taken as long as we dont default again that no further interest will be applied!

 

We just want to clarify the situation for ourselves now! As we dont have any paperwork...mislaid..house moves etc.....to show what & how the monies are made up of that apparently are still outstanding ?

 

So we are going to follow the above course of action.....

 

Thank you again for your time ....

 

x

[Bouncing back !]

Yep. Then sit back and wait. Try to relax

 

Edit: sorry, my quick typing - to clarify, the above referred to the SAR and CCA!

hi

 

many thanks for responding & encouragement. I will send SAR/dpa to 1st credit, as they now have debt would that mean that they should also send me a copy of the original signed credit/finance agreement? As well ?

 

Lastly....I dont want to annoy DCA as they are arrogant! any suggestions on how I should word letter to them asking for info under the cca ?

 

Sorry for asking so much new to this...albeit enjoying the sense of empowerment this site has given me to take back control of our finances !

 

thanking you in advance

 

bounce