I am posting this so it can help people who are being hounded by these 'companies' I will point out that if you have debts you must try to repay them however there is a time when you cant afford to and how these people operate is dubious to say the least. I know of people who offer to pay them silly amounts they have no chance of keeping paying because they think it stops them. It doesn't it can make it 10 times worse. So what do you do when you cant afford to pay your debts and you get your first contact from them.
Well of course their letter makes out if they are wanting to help you and are your best mates THEY ARE NOT, most of them have bought the debts off companies so going back to original company is no good they will just refer you back to Debt collection agency.
So you have their letter saying contact them in 14days to take advantage of their kind offer well yes contact them via letter but your letter shouldn't be offer to pay it should be asking for a copy of the CCA (consumer credit agreement) I have a letter template for you to use here it is:
The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG
Dear Sir/Madam
Re:− Account/Reference Number 4563210025897412
This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.
I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.
If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.
Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Trading
I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.
If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.
We look forward to hearing from you.
Yours faithfully
Mr A N Other
so there you go thats the letter you send including a £1 Postal order never a cheque as they will then have your bank details, also send it recorded delivery that should be £1:30 so for £2:30 you have helped yourself to stop any further action for time being they will then have 12 days to send CCA and if they dont they are in default and also after 30 days if they havent sent CCA then they are committing a criminal offence so contact your local Trading Standards and complain. So what happens if they send CCA well make sure it is a CCA if its just your signature on an application then its not a CCA you need to have terms and conditions, APR, etc. So supposing they then do send CCA in the time required (I doubt they will they never do) whats the next move well actually nothing they want the money you havent got it what can they do???
Lets deal with the threats they will use:
1 the bailiffs will be sent round to remove goods......How can they? there is no court order no court case so no-one can remove goods and I mean no-one until its been to court and the court has ordered them to remove the goods. so ignore that threat I will show you how to stop them 'visiting' you
2 Our representative will visit to arrange payment and collect the debt. Now they can send someone round however this is easy to stop there is only an implied right of access to your property so you need to send a letter to DCA stating you remove their right of access and that you will not speak to anyone and you will only correspond in writing.
3 they send a 'Statutory Notice' letter saying they will make you bankrupt... well first off a statutory notice has to be delivered by hand by a licenced agent not via 2nd class post. Also it will cost them a lot of money to make you bankrupt and the chances of them getting any money back is nil....its an empty threat.
4. We are starting court proceedings against you to recover our money, they can and actually if you are in a position that you cant pay this is the best option for you so let them. A judge will then decide if you have to pay (remember they to prove you owe the debt) if so how much now if you can only afford a £1 a year then thats what the judge will order, do you think the DCA want that of course not so they wont be going to court any day soon.
Also if they have failed to comply with CCA request in the time stated they will not be able to persue the debt any further so chances are they will try to sell it on again so you start again.
Remember this is my advice I'm not legally trained but I have used these methods myself and I'm completely debt free. If you do need advice go to your local CAB or even council they can and will help you.
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