Start of my journey - +£70k debt

[dx100uk]

Stop falling back into the thinking others control where your income goes toward consumer debt!! Its your MONEY you solely control it.

 

Dx

[Mr Ploppy]

Thanks DX understand completely.

 

Another update received a DN from PayPal credit. Interesting this isn't complying in the slightest dated 12th August (Friday) received today 19th August. Sent first class date to rectify before the 26th August.

 

So by my calcs that's well short of 14 days, unless they hand delivered it which they didn't. Not sure of what benefit that gives me but that's an invalid DN.

 

Also shows how bad the postal service currently is.

[dx100uk]

yep!

 

nice void!!

[Mr Ploppy]

Just read the latest 

 

Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus) (Amendment) Regulations 2020 published

 

Looks like the Novuna default notice might be invalid too. Apparently they were supposed to tone down notices to make them less scary ie remove the CAPS Novuna went full fat caps underline and bold.

 

IMPORTANT - YOU SHOULD READ THIS CAREFULLY

 

BEFORE THE DATE SHOWN

 

 

Not sure if that's de minimus but it's in black and white

 

“(b) such prominence is only to be afforded by bold print or underlining.”

 

 

[Mr Ploppy]

Just a quick question the Novuna loan is now terminated and they have front loaded the interest. I borrowed 6k and the amount is now just under 10k. Doing my sums this is including the interest that would have been paid over the 5 years. 

 

Is the above allowed? Adding all the interest that I would have paid over 5 years. The default notice stated an amount that included a rebate if it was settled before the 14 days were up. They didn't ask for this amount just the arrears. 

 

The termination notice does say that the full amount is now due minus any statutory rebate if applicable. I assume this is if I paid the loan off with a lump sum they would remove the added interest not due. 

 

As I said in my previous messages I have sent them a pro-rata offer and my IE table.

 

Thanks in advance 

[Mr Ploppy]

Received a Default Notice from the post office. This was dated 23rd August sent 2nd class received 3rd September date to comply 11th September.

 

They don't seem to have allowed enough days assuming 4 business days for 2nd class after the 23rd brings us to the 30th (29th was a bank holiday). So that's two days short.  

 

" if the breach is capable of remedy, what action is required to remedy it and the 
date, being a date not less than fourteen days after the date of service of the notice, before which that action is to be taken"

 

DN scanned and envelope kept.

 

Still no reply from Novuna, I emailed my pro rata offer as the post is too unreliable.

[Mr Ploppy]

Hi everyone,

today I received a letter from Post Office (Bank of Ireland) accepting my repayment plan offer so that's some progress. I will be setting up a standing order as agreed.

 

Received a DN from Halifax CC which seems down on days dated 3rd September, rectify date 21st September sent 2nd class received 10th September.

 

The 3rd was a Saturday so deemed sent on the 5th served on the 9th so that's another one well short on days.

 

Still no reply from Novuna I have an email confirming receipt.

[theoldrouge]

22 hours ago, Mr Ploppy said:

Hi everyone,

today I received a letter from Post Office (Bank of Ireland) accepting my repayment plan offer so that's some progress. I will be setting up a standing order as agreed.

 

Received a DN from Halifax CC which seems down on days dated 3rd September, rectify date 21st September sent 2nd class received 10th September.

 

The 3rd was a Saturday so deemed sent on the 5th served on the 9th so that's another one well short on days.

 

Still no reply from Novuna I have an email confirming receipt.

Progress indeed with Bank of Ireland

With the post situation as it is I wouldn’t at the moment put too much emphasis on the lack of days

As you have done just retain everything you receive for now 

[Mr Ploppy]

Hi everyone,,

Another positive update I have now made a payment plan for the Nationwide account this was the big one £22k. 

I had to deal with a debt collection company Moorcroft as apparently they are unable to do it in house. Seems an oversight but it is what it is.

 

Anyway it's a result as this was such a large amount I'm glad to get it sorted. 

 

Thanks again

[dx100uk]

on paper only i hope and a tiny sum?

[Mr Ploppy]

Hi,

Yes offer was in writing. It's not a tiny sum but it is relative to the amount. 

 

Interestingly they have given the amount of payments so no collection fees as the numbers add up.

 

Novuna have also accepted my offer in writing eventually.

 

I know you say not to do this but I actually phoned Nationwide, the call was recorded on a MP3 voice recorder and filed with my scanned letters etc. They have no in house way to collect reduced payments on an account. I was quiet shocked hence why I had to write too and receive a reply from Moorcroft.

 

So that's 3 down. Very glad I got Nationwide and Bank of Ireland sorted.

 

 

[theoldrouge]

Well done, excellent if you are comfortable with the repayments

Hopefully this has taken a lot of pressure off your situation 

[Mr Ploppy]

Received a DN from MBNA very similar to Halifax (think they use MBNA for their cc)

 

Dated 23rd Friday received 29th. Rectify date 11th October seems short.

 

Contacted Shawbrook to arrange repayments have stated that they cannot without me sending them bank statements.

 

Told them to sod off. Started waffling on that account would go 10 years past the end of loan term and they couldn't accept that.

 

Told them well that's what you will be getting.

 

From what I have read they have as much right to see my bank statements as the postman.

 

I know I shouldn't phone them but I do record every conversation on my MP3 recorder so I have records.

 

I stick to my IE spreadsheet that I created.

 

I just want to get it sorted and they are being a bunch of ....

 

Blood from stone etc.

 

[dx100uk]

Falling back into your old ways again. Grabbed the phone before posting here 1st...stop it!.

 

I will gather that you are reporting two updates here, as MBNA are nowt to do with Shawbrooks......

 

 

[theoldrouge]

mbna and Halifax are both part of Lloyds Banking Group, hence the similarity

Edited October 6, 2022 by theoldrouge

[Mr Ploppy]

Sorry DX,

I will leave the phone alone from now on.

 

Yes two updates sorry

 

 

 

 

Edited October 6, 2022 by Mr Ploppy

[Mr Ploppy]

I listened to my recording with regards to Shawbrook today (see above)  and I now realise why you don't speak to these people. 

 

They said they cannot accept any offer without me supplying bank statements, I asked them why they said they needed to confirm the affordability of the repayments.

 

I said that was in the letter and the IE I sent you, they said we need the statements it's part of the process.

 

Apparently if they accept an amount without supporting evidence they could be open to a claim as they are governed by the FCA if it turns out to be unaffordable. Really.

 

I said well how come you didn't ask for it when the loan was taken out. They couldn't reply to that.

 

They still keep messaging and calling. Completely the worst company to deal with by several orders.

 

No more answering their calls I should listen to advice more.

 

 

[dx100uk]

Let 'em get on with it 

 

Pers on all fronts I'd simply report all texts from anyone regarding money as spam to 7726.

 

Block all phone numbers.

 

Block and bounce on your online webportal all emails anyone uses 

 

 

[Mr Ploppy]

Morning everyone,

Two updates today.

 

Firstly Halifax are closing the CC account and state no more interest etc. So time for an offer letter once the pass it on to their DCA of choice.

 

Secondly Shawbrook are keeping up their standards letter arrived stating that I haven't complied with their default notice etc. Thing is I haven't received one I scan and store every letter. Seems odd the most important letter they have to send has gone missing.

 

I know this is a really daft question should I pursue this or just leave it? Obviously I have a time line as to roughly when it was issued (or not) due to their letter and the amount of arrears in said letter.

 

thanks in advance 

 

 

[dx100uk]

let both run.

cant hurt you.

 

dx

[dx100uk]

open

[Mr Ploppy]

Hi Everyone,

sorry for the lack of updates.

 

I now have payment plans in place for every account.

Some have been sold I'm paying those too.

It helps me sleep at night knowing its under control. 

 

Interesting letter with regards to the Paypal Credit account

they sent an invalid/void DN impossibly short on days its back in the thread somewhere.

 

The DCA who purchased it I have NOA etc have now stated that the original DN from Paypal was invalid and they have sent me a new one. This gives 28days and to make it fair they have kept the default date the same as original, thanks guys.

 

However the interesting part is the DN asks for the full account balance they have quoted part of the T&C that says :-

 

15.4.We may close the Credit Account and demand repayment of the full amount you owe us if:

 

1. we find out that our decision to lend to you was based on inaccurate, misleading or incomplete information;
2. you breach this Agreement regularly or seriously, otherwise break the law or you appear on any sanctions list that we monitor;
3. you die or become of unsound mind;
4. you become or are likely to become bankrupt, or make a voluntary arrangement with another creditor;
5. you have broken the terms of another agreement with us, we have given you notice to end that agreement and we have reasonable grounds for believing that you may not be able to meet your obligations under this Agreement;
6. your Credit Account has been suspended in accordance with Condition 8.1 due to an increased risk that you will not be able to repay any amount owed and this risk has continued for a period of 30 days after we give you notice; or
7. we reasonably believe you no longer reside in the United Kingdom.

 

15.5.Before making any demand or closing the Credit Account, we will take all steps required by law for your protection.

 

I believe they have again messed up big time as they cannot demand the full amount without issuing a DN they are only legally entitled for the arrears until the DN expires. Is this correct?

 

They also quoted a none existent T&C unless they updated them. So I believe this new DN is also invalid/void. 

 

I don't think this really means much unless they get frisky in small claims.

I am paying them a small amount each month.

 

 

[dx100uk]

a debt buyer cannot issue a default notice as the agreement was terminated by paypal upon sale in 99% of cases.

 

i question your wisdom of paying anyone that is NOT the original creditor on ANY DEBT. unless the CCA is enforceable.

 

 

[Mr Ploppy]

Thanks DX,

just checked through my paperwork you are 100% correct. The account was terminated when it was sold apparently.

 

The new buyer has stated in their letter that the original DN was legally unenforceable.

Where does that leave me?

 

I would have thought the only path forward would be for them to transfer it back to the OC issue a new DN then do what they want with it again.

 

Other wise you have an account without a DN which can only exist I would imagine if the OC kept issuing statements of escalating arrears notices.

Not sure this is right.

 

Sounds like they messed it up royally.

 

[dx100uk]

makes no odds 

as the original DN date has remained on your file, the whole account will still vanish on it's 6th B'day.

 

until/unless they, as with ALL sold the sold debts you have, comply with enforceable paperwork via a CCA request, they get nothing.

 

as said earlier i don't like this comment , if it's true re the above...

On 18/05/2023 at 15:03, Mr Ploppy said:

Some have been sold I'm paying those too.

WHY?

 

dx