Lowell/Overdales yet another very old CCJ/CO they claim the can start adding interest on soon!!

[mairyhinge]

 

Hi Everyone

A letter has arrived from Overdales for a 15 year old CCJ for which an interim charging order on my home was made also 15 years ago. 

The debt has been passed from pillar to post since then through various debt management firms, and I've had no contact with any firm about the debt for all this time (and certainly not Overdales and the client Lowell who are now in touch).

I want to ignore this letter, but they are proposing to start adding interest in a few months time. Can I safely ignore this letter on the basis that they could never enforce the interest when I eventually settle for a knock down amount in a few years time?

Edited June 23, 2023 by mairyhinge

[AndyOrch]

Seems to be their latest threat o gram tactic see here :-

https://www.consumeractiongroup.co.uk/topic/358093-hoistcohen-ccj-evans-store-card/#comment-5216929

You cant charge interest to a charging order as the intial judgment does not allow for post judgment interest...ignore.

 

Andy 

 

[mairyhinge]

Thanks for link Andy, a similar kind of scenario.

I shall stick to my plan of going to them in 10 years time as a skint old duffer and negotiate twenty pence in the pound as full and final settlement. The timing is very important of course, if I leave it too late they'll just wait for me to throw a seven.

I looked at my credit file today, and have a nice score of just under 700 with Clear Score, with no record of old CCJs on file - I didn't know that they dropped off the file just like non-judgment debts after 6 years!

 

 

 

Edited June 23, 2023 by mairyhinge

[dx100uk]

is this a CCj in one persons name on a jointly owned property?

 

[mairyhinge]

Hi Dx

CCJ in one name, who singly owns property outright.

Yes, I know that does give them more degrees of freedom, and that CCJs never expire and can be enforced at any time. At the same time, I'm pretty sure they know jack about the origins of the original debt and I would probably run with a story that it was paid off years ago to the original debt management firm and the interim order was mistakenly left on the address. its for them to prove otherwise after 15 years of inaction.

My main line of questioning was about the legitimacy of added interest at this stage, which i am pretty certain cannot be added (the singly owned property an irrelevance in relation to that matter).

It is interesting that they threaten to add interest from some date in the medium future rather than adding immediately, a leverage move that they know ultimately cannot be applied.

By the way DX, that tradesperson paid up on judgment within the 28 days, so i ended up quids in as the breach of contract was not contested.

 

 

 

 

 

 

Edited June 23, 2023 by mairyhinge

[dx100uk]

ive opened that thread go update it please.

as for this one.

they cant add interest no, it's just willy waving to make you reply even by saying you can't...don't!

however as there is a CO then they'll get their money if/when the property is sold.

if it had been paid off there would be a record of it and the CO would have been removed...no dice there sadly. its not for them to prove otherwise, the CO is still showing.

i will gather this CCJ/CO would have been attained by a DCA that is now owned by lowells (of the hoist group) ,as they recently bought out hoist uk and you are about the 4th person that has gotten the same letter we know about.

dx

 

 

 

 

[mairyhinge]

Hi Dx

CCJ in one name, who singly owns property outright.

Yes, I know that does give them more degrees of freedom, and that CCJs never expire and can be enforced at any time. At the same time, I'm pretty sure they know jack about the origins of the original debt and I would probably run with a story that it was paid off years ago to the original debt management firm and the interim order was mistakenly left on the address. its for them to prove otherwise after 15 years of inaction.

My main line of questioning was about the legitimacy of added interest at this stage, which i am pretty certain cannot be added (the singly owned property an irrelevance in relation to that matter).

By the way DX, that tradesperson paid up on judgment within the 28 days, so i ended up quids in as the breach of contract was not contested.

 

 

 

 

 

[mairyhinge]

Hi Dx

The property is not going to be sold for 30 years, i'll will settle this at 20% no problem at some convenient point in the next ten years.

I have a strong feeling that most debt collection firms are going to bust out anyway in the next few years, castrated by the Government. Enforcement only works on a 'naughty' ten percent, not most of the population. A couple of years after the group of companies is no more, it is easy to apply to court and have the charging order removed. I managed this recently with a private school that unfortunately went bust

Edited June 23, 2023 by mairyhinge

[dx100uk]

DCA's will never go bust.

they just merge, split and reform.

some of the people behind firms that existed in the 70's/80's are to this day still around.

its the biggest banking industry there is ....

be interested in the school story one day

we get lots of those.

[mairyhinge]

Thank you for that background to the DCA industry. 

I think, perhaps, you underestimate the extent to which Government action is destroying the financial sector. Think about the Government help to homeowers yesterday for example. The measures nullify an entire body of law and it’s evident that lenders have not thought through the consequences. Important letters will become laughable.

Dear Borrower
We are proper, proper going to secure a suspended order for possession this time.
Be in no doubt, we are dead serious and mean business.
Regards
Lender