CAG CRA S.A.R Club

[dannyboy660]

Some of you probably already know this, so I apologise for the repeat, but for those who dont'.....

 

http://www.experianintact.com/content/uk/documents/pressReleases/LabourParty.pdf

 

Everything begins to stink if you dig too deep.

 

A certain DCA has/did have a certain politician on the board too.......

[dannyboy660]

scary movie

I think they are already doing a version of this here, esp as so many companies are either wholly or part owned by American firms

 

 

....and the US economy is at least 91,000,000USD short this year BBC NEWS | UK | UK Politics | 1945 war debt to US 'almost paid' ....where are they going to get the money from?? Oil, perhaps?? ..or are they cruel enough to manipulate their own markets in such a way that the ordinary consumer takes the pain??

 

Coming soon to the UK........

[dannyboy660]

Someone correct me if I'm wrong, but I think Equifax own Wescot, and until recently Experian and Great Universal Stores were the same thing.

 

They shouldn't, in theory, be passing information around willy-nilly (poor old willy), especially if that information is personal and identifiable. But when there's money to be made, and nobody's looking, who's going to stop them sharing info??

[dannyboy660]

I've now responded asking for details of where my information was obtained - as part of MY security procedures.

 

I like that

 

More people should take a similar line instead of just handing over info to people just because they ask for it. Most people are too trusting for their own good. If someone rings your house and the first question they ask is "Confirm your d.o.b. for me please" your reply should simply be "No. I don't give any kind of personal details over the 'phone to a complete stranger."

 

It does work.

[dannyboy660]

This might be the thread here http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/111919-debt-collection-agency-year.html

 

It's funny how often the same names reappear.

 

I'm convinced CCCS and Payplan are part of the information gathering process, knowingly or otherwise. It's not a comfortable subject.

 

I would imagine this topic is 'thin ice' on a public forum especially having a pop at the esteemed Mr Hurlston, so tread carefully my friend, or a Mod will be along to spank your bottom until it turns purple and really hurts.

[dannyboy660]

CCS & Payplan Danny - that wouldn't have anything to do with The Paylink Trust by any chance would it?

 

Oh dear!!! There was I, just on the point of a CAG semi-retirement and you're going to set me off again!!!!

 

 

 

There was a video posted recently 'MAXED OUT' if you've not already seen it, take a look.

[dannyboy660]

Perhaps Dannyboy660 you could tell me and the other tens of thousands on here what is so special about Mr Hurlston?

 

:o YIKES!!!

 

That's a leading question your Honour, and I respectfully refuse to answer on the grounds I might incriminate myself!!!

 

There's not a great deal to say that hasn't already been said. Mr Hurlston has his fingers and toes in too many conflicting pies, in my opinion.

 

CCCS, Registry Trust, dishing out gongs to DCA's, advising the Gov to offer credit to 16-17 year olds, suggesting that Credit Unions be scrapped because they are run by their own members (and he's not involved)......

[dannyboy660]

Oh Sosumi, you're catching up with me!!!

 

http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/117547-experian-incorrect-information.html

 

I'm having the time of my life with my new Company 'Catchem, Bojjum and Swindell'.

 

I've just sold 'Banamix' to 'Credit Sewiss' for 400 Mil, but only actually paid 40 pence and defaulted on the balance. I managed to get an IRS charge-off through our branch actually based in the Bahamas but also registered in Matabeleland, and Lewole Group bought the remainder leaving me nicely in the black.

 

Just to finish off a hard day at the office, I've ordered 4 Hawaiian Pizza's (from Hawaii) and a magnum of Bollinger, and for a laugh transferred Wayne Rooney to Ulan Baator U-11 girls team for 40 quid, all on the Company credit card!!!!!.

 

Oh hapy daze!!!!!!!

[dannyboy660]

It actually all sounds a bit ridiculous but if you really want to know how it works, go through the motions as if you were setting one up for real. You can even go as far as making enquiries with HMRC, and contacting local firms who might be interested in your 'services'. Helps if you know a good accountant too. You'll probably be surprised how easy it is - virtually anybody can do it if you're not a disqualified director or bankrupt.

 

I just hope you don't actually see it through. I mean, if you were happy to operate on a reasonably modest scale the whole thing is quite plausible and you might be tempted to supplement your income.......

 

"NO. Move away from the 'phone Sosumi and put your hands up....real slow....so I can see the hairs on the back of that hand......."

[dannyboy660]

I don't think it really says anything that's not already known, for instance, the fact they keep records for six years even after things have been concluded one way or another, or that the information held may be prejudicial to your future chances of credit.

 

It says "the complainants argument is based on the assumption that the CRA need consent to process account information. This is not the case."

I take that as meaning you gave your consent when you took (or applied for) the credit in the first place with the OC, because on most if not all contracts and applications there is a clause which states they search CRA's etc, etc, and that in the event of default your account may be passed to a DCA and adverse information recorded. The CRA does not need separate consent, because it was given at the time of application. As for 'selling' to a third party...well that's another thing.

 

It seems to be an issue of historical information left by DCA's/OC's for future credit applications to be assessed, and the Information Commissioners Office agrees that six years is fair.

 

..or did I get the wrong end of the stick??

[dannyboy660]

Nice to see Experian attempying to cash in on the Missing Disks Fiasco. Their Dear Leader was on the radio tis morning advising people to check their Credit Files with Experian to see if there had been any fraudulent transactions.

 

Its an Ill Wind etc

 

 

It's funny you should bring that up, because little old cynical me instantly remembered http://www.experianintact.com/content/uk/documents/pressReleases/LabourParty.pdf when this story broke.

 

Funny old world, but I'm sure there'll be plenty of Experian shareholders rubbing their hands with glee to see the share price recover, and Gov insisting it's time for biometric ID cards.

 

I wonder how Bridgepoint are doing........

 

Funny old world we live in.

[dannyboy660]

I bet if you put your address as c/o 3rd crater from the sevent moon Planet Zog you would still get a letter or card advising you of a personal visitation by a Licenced Field Agent

 

One of the CAGger's got a threatening Lowell visiting card in France recently, if I remember rightly.......

 

That kind of thing is certainly not allowed in France. To discuss matters of a private financial nature they can only visit with your permission and by making a mutually agreeable appointment. People are far less likely to get shot that way, apparently. I blame the red wine.

[dannyboy660]

Leeds, United Kingdom-based Lowell Group, has been awarded the coveted title ‘Debt Purchaser of the Year’ by an international panel of industry experts who said: “A very impressive range of results and developments at this innovative and growing purchaser wowed the judges and clearly wowed their clients too. Four of the top six retail banks supported this firm in a big way. On top of this the firm exemplified some truly mesmerizing HR practices that set the benchmark of where the industry should aim.”

 

 

As a specialist debt purchasing company, Lowell Group purchases portfolios of consumer debts from a range of blue-chip organisations and then manages the recovery of those debts, working closely with debtors to help them resolve their financial difficulties and pay off what they owe. Formed in 2004, Lowell Group reported an annual turnover last fiscal year in July of £50m ($102.1 million) and after a strong first quarter is on target to exceed $153.1 million in 2008.

Lowell employs more than 300 people at its state-of-the art HQ and customer contact center in Leeds. The Group’s operations division Lowell Financial is currently servicing more than two million consumer accounts with an asset value in excess of $4.7 billion.

Earlier this year chief executive officer James Cornell was named ‘Young Director of the Year’ for the Yorkshire and Humber region by the Institute of Directors.

 

 

 

InsideARM: PR - Lowell Group Named UK's Debt Purchaser of the Year

 

 

 

Cabot have a Fan Club,.... surely Lowell deserve some kind of recognition other than 'Debt Purchaser of the Year' ??

 

They must be one of the most dishonest Companies in existence, breaking more rules and guidelines than many of the other old favorites, in their unstoppable quest for unjust enrichment. Allegedly.

 

The bigger they are.......

[dannyboy660]

Alan Milburn MP is/was on the board of Bridgepoint, which owns a well known DCA recently put up for sale (I believe). I vaguely remember a chap called Mr Blair, who I think ended up in the banking industry too???

 

 

Call me old mister cynical if you like, but unless you are incredibly lucky, or have an MP who doesn't mind rocking the boat, you'll probably find they listen attentively, nod in agreement, and then as soon as you are gone have a glass of sherry and book a table at 'Phatpharts'.

[dannyboy660]

LOL! :grin: ...and when you ask them a question they say "no, the question you should be asking is..... then go on to answer their own question ! cute, but too many have gone before them that have been to the same school.:grin:

 

That's the stuff

 

Good politics involves answering a question with another question, but at the same time giving the impression you are solving a problem........

[dannyboy660]

I couldn't find it for my earlier post to support my claims but here's one Debt collector's £350m pay day | This is Money

 

and just to clarify Bridgepoint | New European advisory committee

 

 

Hopefully now I won't get my bottom smacked until it goes purple and really hurts.

[dannyboy660]

"This applies equally to a company that takes over an existing debt."

 

 

That's a bit of an anomaly.

 

The petition is about restricting access to data by purchasers (sharks). That's very clear.

 

The response takes the line that lenders need this information as part of their decision making process. Fair enough.

 

Then it goes on to say "This applies equally to a company that takes over an existing debt"...... the only part of the entire statement which attempts to deal with the original point....and fails miserably. Purchasers are NOT lenders and DO NOT need this information unless they are going on a phishing trip, or looking for someone in difficulty to finish off. The Creditor should have already informed the CRA - there's no need for a purchaser to be sticking the boot in too.

 

They have either completely missed the point, or more likely, very cleverly avoided the main issue.

 

Probably a junior Civil Servant on loan from Private Office

[dannyboy660]

The very idea that a third party purchaser can mess about with people's credit files is actually quite scary when you take the time to think about it.

 

To steal a quote from another post a while back....

 

 

"32.2.4. Assignment of debts

 

Assignment is a process whereby debts are sold on to another organisation, and is common practice within the industry.

For an assignment of a debt to be legally effective, it is necessary to assign both the rights and the responsibilities of the creditor under the agreement.

Partial assignment which, in effect, assigns the right to enforce but not the associated responsibilities will be invalid and will preclude the assignee from enforcing the debt.

There are two types of deed of assignment - equitable and absolute. The first assigns the right to pursue the debt to the assignee but not the obligation of the OC. The second assigns both the rights and obligations of the assignor to the assignee. However, in order for this to be legally binding you as the debtor would have to give your consent to such an assignment."

 

 

 

So what we have is a situation where they buy delinquent, probably fairly old debts and then, based on information which may, or may not be correct, they batter the person who may or may not owe the debt into submission....and they have the ability to hold people to ransom through their credit files even though the necessary legal documents may not exist!!!!

 

 

Sometimes, I despair. I really do.

[dannyboy660]

I fully agree danny It's an appalling situation and should be addressed properly ASAP

 

 

I wouldn't even know where to turn next. Do they really listen??

 

I've already been told there are "safeguards" in place, and some are of the opinion the odds are already stacked in favour of the debtor.

I think they work on the theory that anyone who has contact with DCA's or purchasers must be dodgers, 'won't pays' rather than 'can't pays'..

 

It's the whole idea that they can just tamper with credit records and hold people to ransom that gets me wound up!!!! I don't believe they can't see how potentially dangerous it could be, that kind of power to anyone with a credit license!!!!!

 

Absolutely no respect for peoples privacy and information.

[dannyboy660]

Here's the official line from the "tenth house in the street of many fools....." (that's 10 Downing Street in case there are any doubts)

 

 

 

"The Government has recently taken measures to strengthen the regulation of the debt collection sector. Under the Consumer Credit Act 1974, debt collectors already require a consumer credit licence in order to operate. The Office of Fair Trading (OFT) has a statutory duty under the Act to ensure that licences are only given to and retained by those who are fit to hold them. The OFT must, when determining whether or not a licensee is fit to hold a licence, consider any evidence that the licensee has engaged in business practices appearing to be deceitful or oppressive or otherwise unfair or improper.

Debt collectors that hold a consumer credit licence need to also comply with specific fitness guidance OFT has issued covering the debt collecting sector. This guidance was issued in July 2003 and applies to all consumer credit licence holders.

If a licensed debt collection agency or creditor persistently fails to comply with OFT's debt collection guidance or there is evidence to substantiate claims that the licence-holder has engaged in unfair business practices, OFT can ultimately revoke its licence, effectively putting the trader out of business. Any persistent failure by a creditor to provide accurate information could also reflect on its fitness to hold a licence.

This guidance outlines the types of business practices the OFT considers unfair and so incompatible with fitness to hold a consumer credit licence.

The guidance covers;

Communication

False representation of authority/legal position

Harassment

Deceptive and/or unfair methods

Unfair charges

Visits

Statute barred debts

The guidance is available at:

http://www.oft.gov.uk/advice_and_resources/resource_base/legal/cca/debt-collection

Anyone who wishes to comment on non-compliance with the OFT's guidance, can e mail them at [email protected] or telephone on 020 7211 5823.

However, in addition to the current rules relating to the debt collection sector, new legislation will strengthen and add flexibility to the regulatory options available to the OFT in operating the consumer credit licensing regime. The OFT has been given new powers by the Consumer Credit Act 2006 (CCA06), which comes into force in April 2008.

These will allow the OFT to place 'requirements' on licensees to modify conduct and impose financial penalties of up to £50,000 for a failure to comply with a requirement. The OFT will also have new information gathering powers enabling it to more effectively pro-actively monitor compliance by seeking information from licensed businesses about their activities including, for example, their debt collection practices.

In addition, the CCA06 also gives the OFT powers to take into account a company's competence to lawfully provide credit when assessing fitness to hold a licence. From April OFT require more information from businesses engaged in 'high risk credit activities' such as debt collection at the licence application stage in order to satisfy itself that the business will be 'credit competent'.

Credit competence refers to the ability of the business to carry out the activities covered by the licence to a reasonable standard. It will also take into consideration business processes and procedures which would assist with maintaining good standards of consumer protection. For example, whether adequate staff training procedures are in place to ensure that the firm's legal responsibilities are understood at every level of the organisation. This means that debt collection businesses will be subject to greater scrutiny at the licence application stage and greater monitoring throughout the life of the licence."

 

 

And there we have it. debtcollection - epetition response

[dannyboy660]

There's a certain "Government Minister" working at a certain Debt Purchaser and issuing SD's on their behalf ( ) who may be about to find out if:-

 

"False representation of authority/legal position"

 

...has any real bite to it.

 

[dannyboy660]

The good news for a lot of us is that, when laws change, regulators almost always look at what the big players are doing first. This is because it has the greatest bang for the buck.

 

Hence the first point of call for them will probably be to the likes of Cabot etc.

 

 

Newborn

 

...and there is a certain Company in Leeds who have been blowing their own trumpet about the huge profits they have been making, and recently won an award as being Venture Capital Business of the year. A sucker (there's one born every minute) then paid i.r.o. 200 million GBP for a company which is quite probably sitting on a pile of, what is in reality, worthless paper. They 'buy' the accounts alright (with borrowed money, assumedly), but the profit doesn't actually exist unless or until they collect it.

 

Who would take such a giant risk with a company like that, on the eve of recession when more people are likely to be saying "stuff the DCA's I'm paying my mortgage/council tax", - at a time when we wait with baited breath for the ruling on the bank charges case, - and when the OFT etc are looking for someone to take to the sacrificial altar??

 

Whoever was behind that company and sold out at just the right moment has to be acknowledged as a genius of profiteering. A business masterstroke.

[dannyboy660]

Is this not it?? If you go back to the earlier post around 50 ish there is some discussion there in that vein.

 

I can't find a specific example but it's not unusual to get wolves at the door and/or inundated with loan offers after requesting a credit report. If BBC producers aren't already aware of this they must be living in a different world to the rest of us. It's a well known fact that CRA's own DCA's and even get their hands dirty in politics http://www.experianintact.com/content/uk/documents/pressReleases/LabourParty.pdf All this ID theft scaremongering and 'Get your Credit Report now!!!' stuff is a monumental stitch up, and laying the foundations for a national database.

 

I pinched http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/107363-wescot-did-you-know.html from an earlier post - is that the one???

[dannyboy660]

Cheers folks. I'll compile a lit of the juicier posts and email them over. If I get any feedback, I'll let you know.

 

....and don't forget to mention that Alan Milburn MP is on the board of Bridgepoint Capital who own First Credit. Just verify that first to make sure it's still a true fact. The BBC will be interested in that, as the GOV is handing out contracts to DCA's to collect Gov money, and Labour already has close links with Experian.........

[dannyboy660]

They always make a big deal about your credit report, trying to suck you into their deceitful web of information gathering. What better time to set their own DCA on you than when you check your credit report and confirm all your personal details, including the fact you may not have two pennies to scratch your bottom. Time to turn up the heat and see if they can get anything out of you.

 

There's no point constantly checking your credit report. If there's anything strange or wrong on it they won't do anything about it without the permission of the company who put it there, and if there's anything that looks like fraud the Police aren't very interested because you are not the victim - the creditor is. Once it gets to the stage you are being hassled by DCA's, lets face it, who gives a damn about a credit report you can't change without months of uphill misery anyway??