Managing own £24K debts after 1 year on a fee paying DMP

[Mezzle]

I've had bad debt, which I'm now managing. 

Looking at my credit file, I see examples where a debt has been sold.

For example, a Lloyds Loan might show as

Account with Lloyds Bank
Status: Settled/Defaulted
Balance: 0

and an entry from who they sold it to

PRA Group
Status: Defaulted
Balance: £3045

 

This would be considered as 2 defaults, rather than 1 default that's been sold, wouldn't it? (The default dates are the same),

I have 9 different defaults on my file listed in this manner. (defaulted, 0 balance, but I know I've not paid off that original debt yet, and am paying a DCA)

I'm just making sure I've identified these correctly before I go down the route of chasing the OCs to get them removed.

(I'm also thinking that removing 9 defaults from my file will make it look "nicer" (but still awful!)

 

 

[AndyOrch]

4 minutes ago, Mezzle said:

This would be considered as 2 defaults, rather than 1 default that's been sold, wouldn't it?

No, same agreement number ,regarded as the same debt.

 

Andy

[Mezzle]

The details I can see show them with different "account ending" - does this mean they're potentially showing as 2 debts?  Or is there somewhere where I can see in a report that the debts are considered the same default?

[AndyOrch]

The credit reference agencies are aware its an assigned debt it is regarded as the same debt its not being regraded as two different debts.

The balance is nil by the Original creditor the new owner is now showing the default balance.

[Mezzle]

In July 2022, I entered into a DMP using a fee paying company (and yes, I know, I’m expecting dx to tell me off for doing so!)

I got frustrated with them and how they handled the annual review, so switched to handling things myself

 I’ve informed all the creditors that I’ve changed, and most of them have accepted my new (higher) offers, and the ones who haven’t just haven’t got back to me yet

 I’ve also had 2 debts that were statute barred closed off, something that the DMP company were insistent that couldn’t happen. 

rolling the payments from them being closed off and the money I’d been paying The management company, I’ve managed to clear off one account (~£400 with Klarna) and start making good payments to others  

I’ve also opened an affordability claim with Lloyds for the overdraft, given I lived in my overdraft for a good 15 years or so. We’ll see where that goes

is there anything else that I should be doing? Or any tips/ideas for getting things done quickly? Balances currently range from £400 - £6k, with the total being just under £24k. All but 3 accounts out of the 13 have been sold on to DCAs

 

Debt list:

• Marbles - £6804.99 - sold to Cabot
• Lloyds Loan #1 - £2905.28 - sold to PRA
• Barclaycard - £2549.38 - Sold to PRA
• Lloyds CC - £2387.83 - Sold to Link Financial 1
• Lloyds Overdraft - £2078.59 - Sold to Link Financial 1
• Paypal Credit - £1835.50 - Sold to Wescot
• Cashplus - £1360.99 - Sold to BW Legal
• Amazon CC (Newday) - £1205.78 - now "Pulse"
• Lloyds Loan #2 - £1215.93 - Sold to PRA
• AO (Newday) - £951.86 - Sold to Cabot
• Klarna - £561.48 - No response to letters
• Fluid - £520.35 - Sold to Wescot
• Tesco CC - £397.41

All should be defaulted.

Am I right in that I should be CCA - ing the CCs?

Having looked at my credit files online - I've spotted a few issues which I'm not sure if they need correcting, and if so, how to correct

• Cashplus with BW Legal - only shows the OC record (Satisfied, £0 balance) - nothing with new Creditor
• Amazon / Pulse - no default recorded, but online account says the Agreement is terminated
• Paypal - Doesn't show record from Wescot
• Fluid - shows as sold to cabot on file - but Wescot own this? (Cabot have confirmed this has been resold)

 

[dx100uk]

CCA to everyone bar any bank OD's, for those stop paying now!! Esp fleecing Link of all people.

Wetcloths don't buy debts .whom are their clients??

Dx

 

 

[Mezzle]

For the Fluid one, I've previously discussed with Cabot, and they've said it's been passed to Wescot.

For Paypal - it seems to be Lowell

Why stop paying the OD/what are my actions going forward with them - I presume there's something I don't know around those?

@dx100uk - that is very confusing (editing my post as a response!)

Paypal debt = PP Credit, taken out on29/01/2017, Default Nov 21

What's the reasoning behind not paying the OD? is it unenforceable automatically or something (could you point me in the right direction please?!)

[dx100uk]

internet hiccup there lost connection.

CCA both owners too then. You should never ever be blindly paying a DCA. No it's or but's. 

Ignore wetcloths totally.

As for Lowell's and this PayPal debt. IS this pp credit that you took out prior to Brexit and not just a buyer/seller debt not money they gave to you by you by a signed agreement? And what takeout date?

Hope you've not been using the phone or email to any of them too!!

and the OD, usually is totally made of unlawful charges and interest.

when did you open the AC, when was it sold to Link?

[Mezzle]

Bank acount was opened roughly 20 years ago (Opened on 20 August 2003 according to Credit Report).  I've already got an affordability complaint sent off to Lloyds re: that - they've received it and am awaiting their response.

Was sent to Link when I entered DMP - Credit Report is saying October 2022 - although I didn't get a letter til late november, stating the date was 17/11/2022

 

In respect of phoning/emailing people - I've emailed some, but not phoned.  I presumed that as there's a written record of the emails, there's no issue with that?  Or have I done something wrong?  
 

[dx100uk]

just type no need to keep hitting quote.

well an IRL complaint on a bank account 9/10 is useless unless they gave you a later greater OD without checking your credit file was not full of defaults CCJ's etc first.

2003! god stopping paying it. bank OD are notoriously difficult to litigate on as they are always almost totally OD charges/penalty charges and the interest they attract.

ideally you should NEVER use email esp to any DCA. cause if they ever go nuclear then they will file fake docs etc 1 min before a deadline removing your chance to complain.

for each CCA request sent they have 12+2 working days

if anyone fails to supply enforceable agreements (scan it up to one mass PDF after reading upload if they do) then stop that payment. and ignore them until they comply and we check the paperwork IS enforceable. then we'll decide.

send them an email in reply to one of theirs regarding the account in the past. tell them in the email that this nor any email address is ever to be used regarding any mutual debts.

dont ever move without then writing to each 

just remember a DCA is NOT A BAILIFF

and have 

ZERO legal powers on ANY debt no matter WHAT it's type

dx

[Mezzle]

I had meant to post something last night, but didn't.  My comments were going to be re: the Lloyds IRL - but I've just had an update from Lloyds.

They've agreed that the OD was unaffordable, based on 2 loans at the time in quick succession.  They're providing a refund of £2000.10 and an "apology payment" of £40, as well as backdating the default to 2019, when they should have defaulted me on my OD.  They'll be buying the debt back from LF1 and paying it towards that - it'll leave me "owing" £38 to them.

They've also agreed to open complaints and look into the loans affordability, as by the admission on this case, the only reason I was able to stay in my OD was due to those loans - so they will potentially be considered unaffordable too.

[dx100uk]

aha didn't realise the loans were  to prop up their ruddy OD!

good win 

well done

theyll cough on the loans now too i bet.

 

[Mezzle]

Loans were just part of the overall picture when I was getting into debt.  But yep, the loans etc contributed.  Thankfully I'm in a better place now to sort things out / pay things off / get everything back on track.

It's the hope they'll cough on those now (I made specific reference to what was said).  And the CC (that they gave me an increase whilst I was over-limit!)

Whilst you're here.

CCA request - recorded? or just Proof of Postage ?

Edited September 11, 2023 by Mezzle

[dx100uk]

no just pop

dx

[Mezzle]

I'm in the process of the first few months of managing my own debt. (see my other thread)

Going through my paperwork, I've noticed that I have one account that is showing as "Active" on my credit file, however, I have in my hand a Default notice dated 10th September 2022, and a termination letter dated 5th October 2022 (both whilst I was in DMP with my previous provider)

Equifax/Experian show this account as "4 months late" in March 2023, and then "Payment made on time" (ok) from April 2023 onwards.  Transunion shows the account as under a DMP from January 2023

Whilst this doesn't show on my file as a default, is it worth complaining *now* regarding the default not appearing, so that it'll be added/backdated to drop off my report in 2028? or is it worth waiting/hoping it doesn't appear?

Would it do more harm to make sure it's reported accurately (with a default) or leave it as is?

Edited October 2, 2023 by Mezzle

[dx100uk]

ive merged your 3 threads as they might as well be under your DMP thread.

write to the OC and ask them to register the default with the CRA's.

if they say oh we can't we sold the debt , then have a chat with Experian or one of the others as to why its not showing as you have it in your hand.

well done on all your self help, wish everyone was as switched on.

 

dx

 

 

[Mezzle]

I’m still paying them directly, so it shouldn’t be sold yet

 

Just had my first reply to my CCA requests from Link Financial

Quote

Thank you for your recent letter, we can confirm we no longer require a fee for the section 77-79 request, please find enclosed your £1.00 payment

And then what seems like a standard closing of "Please ring us if you've got any questions about this letter"

I have to give them - they're good at quickly responding to me as a customer, but it seems like they're taking their sweet time to sell one of my debts back to have the Interest/Fees refunded...

 

[dx100uk]

thats not normally a link trick its and PRA or arrows group trick.

dx

[Mezzle]

Well, speaking of PRA - just had a letter back from them.

I sent them three letters, they replied about all three in a single letter.

3 Postal orders attached, they've put  3 accounts "on hold" meaning I won't be contacted regarding them until they've found the CCA, and sent it to me.  Information sheet enclosed which is actually a really nice summary of what they should provide, it being unenforcable until they do, etc.

It feels weird to compliment PRA - but they've been one of the better companies I've interacted with so far.  Their information sheet is pretty damned good, and when I mentioned I'd been paying token payments via DMP for 2 debts I believed to be statute barred, they wrote those off immediately, and sent me a letter stating so.

[AndyOrch]

Yes makes a nice change ...well done.

[dx100uk]

well they will be nice they managed to get free money out of you for how long?

pers id be demanding the payments back if the debt(s) were already SB'd, they should not have readily accepted them for that night mass drinking sessions .

[Mezzle]

Response from Lloyds attached re: one of my complaints.

Their timings don't match what's on my credit report.

Their timeline:

• Opened March 2016 - Limit £1500
• December 2018 - £1500 -> £2250
• September 2019 - £2250 -> £2750

Experian

• Before December 2016 -????
• December 2016 - Limit £2250
• October 2019 - £2250->£2750

It seems I have 2 more years @ £2250 on my credit file than they're claiming ? 

Does this bring into doubt either the credit record, or their letter? 

Because if we go by what they say, instead of my balance being an average 39.8% with a max usage of 56.8% - I'd be sitting at an average of 59% with a max of 87% utilisation - 

It's marred by the fact there's a dip that it seems I paid it off twice - but then, I also have 2x Loans, one I seemed to get just before I paid off my balance - I think I definitely have some questions that need answering here (they've either dealt with my complaint wrong, or they've reported to the credit reference agencies wrong.  Which would be more trouble for them?)

Any advice with how I take this forward? 

I'm thinking another complaint (incorrect reporting) and pushing further to the ombudsman?

The only thing is I don't see something on their letter saying it's their final response. 

Don't. I need that (or a time limit) before the FOS ?

 

 

My favourite part is this

Quote

You also never exceeded your credit limit

However, in September 2019, my experian report shows

• Balance: £2360
• Limit: £2250

And then in October 2019:

• Balance £2462
• Limit: £2750

Now, I know I was the idiot that did in the first place.  But even I can see now that looks like irresponsible lending.

2023-09-`8 Lloyds reply to IRL complaint.pdf

[dx100uk]

well what gets reported is not really any benchmark toward or against an IRL it's actual evidence they never carried out the necessary checks before lending to you.

might be better you scan their response rather than interpretting it in your own mind.

many minds makes light work.

[Mezzle]

It’s attached above as redacted.pdf

[Mezzle]

3 responses from Cabot (attached).  The Fluid one *does* have a plan via Wescot at the moment, but for this I went direct to Cabot (as I didn't realise before who actually owned it).

Seems they're struggling to find the documents.  I presume this is now UE till they try and produce something, and their "updates" will be to tell me that at their deadline ?

Edit: One of them is the largest of my debts.  Here's to hoping that one ends up UE

 

Cabot - for 3 qccounts unenforceable at present.pdf