Getting myself out of debt

[Roger]

The first thing some do when they see you are struggling is put up your interest rate as well as reduce your limit.

Banks charge against debt is this interest!

What happens is the debt becomes almost completely compounded interest (interest charged on existing outstanding interest ) rather than capitol repayment (that's the part of the debt that is goods/services/purchases etc..).
Some of these sold debts are almost entirely compounded interest! Which is also why they are sold for pennies in the pound.
Think of Pay Loans.

[Still Waving]

The first thing some do when they see you are struggling is put up your interest rate as well as reduce your limit.

[The Tech Clerk]

a lot fd credit cards have done that saying folowing policy of regulator also suggesting pay extra each month to clear quicker

[debrag]

Debt 3 Very

Opened:	December 2016
Type:	Catalogue
Current Balance:	£767
Last payment:	£1.00 | July 2018
Last fill payment:	November 2017
Arrangement:	DMP till May 2018
Status:	Late payment on credit report
Owner:	Very (NCO)

2017
December - NCO letter, 'we are acting on behalf of Shop Direct'

2018
January - Very statement
March - NCO letter, Notice of Sums of Arrears under CCA 1974
March - NCO letter, Total outstanding letter
March - NCO letter, Confirmation of the following payment arrangement (£1)
May - NCO letter - Concerns regarding overdue account
June - Very statement
July - Statement received along with arrears letter and fact sheet
September - Credit limit has been reduced to £850.

So Very have reduced my credit limit, that's been my limit for months now! I haven't paid anything since 7th July and they currently aren't chasing me.

[Warwick65]

Account is now closed so I take it it has been sold on, the OD is still open though

My guess, and until you get something in writing it is a guess ,
The account may well have been sold on , possibly to cabot (hopefully Cabot Financial (UK) )
If it has been sold you will probably get a new entry on your credit report from the new owners but the default date MUST be the same

If it has been sold, wait and see what they want to do - it might be send a S77 request but don't do anything just yet

[debrag]

Debt 1 Natwest Loan

Opened:	August 2016
Type:	Loan
Current Balance:	£4889
Last payment:	£1.00 | June 2018
Last fill payment:	December 2017
Arrangement:	DMP till May 2018
Status:	DM on credit report

2018
March - Collections letter, i+e attached, ignored
April - closing of accounts letter, payment proposal form attached, ignored
May - Formal notice of intention to file a default
June - Notice of arrears in compliance with CCA 1974
June - Notice of refund of interest (£468
June - You have fail to comply letter received
July - changes to ongoing management of repayment plan, partnered with Wescot, in touch within 14 days to management provider (no longer with them)
August - yearly statement received
September - credit report updated and loan is closed

Account is now closed so I take it it has been sold on, the OD is still open though

[debrag]

What should I do about the possible legal action from Credit Resolution Services/Trugym? I don't have a cca and haven't sent a request yet, will try for one today if the post office is open, can I sent an account in dispute letter? They haven't complied with my SAR from 22nd July, I don't think.

Is it legal for them to only accept payments by phone and have no website?

I'm assuming that they will take action two - out source to DCA rather than court for £86

EDIT apparently I can just ignore Credit Resolution Services

[Warwick65]

If I am reading the correctly they are saying your complaint is out of time because you took the loan out more than 6 years ago. You are wondering what you should do now?

have I got that right

I would escalate this to the FOS and argue the 6 year time limit does not apply in this case because you only became aware of the possibility these accounts could be classed as unaffordable very recently. You might want to link to debt camels blog because that is much less than 6 years old.

There is no harm in escalating the complaint- in fact these people rely on the fact you WON'T escalate

I have had some sucess in getting debts written off either partially or totally with complaints to the FOS ( I have also had a couple that got me no where)

[The Tech Clerk]

Warwick65

[The Tech Clerk]

do you have the CCA19774 copy if so send to the webmaster to check if enforceable or unenforceable? for starters

[debrag]

not a PAP,thern they are hoping you get freightened, they are tring to baffle you with possibilities i.e.:- if/buts.

any CCA1974 if sent send un-redacted to:- webmaster-all-about-debt@.uk.com

What should I do? Ignore or send a letter

[The Tech Clerk]

not a PAP,thern they are hoping you get freightened, they are tring to baffle you with possibilities i.e.:- if/buts.

any CCA1974 if sent send un-redacted to:- webmaster-all-about-debt@.uk.com

[debrag]

Debt 12 QQ

Opened:	January 2012
Type:	PDL
Current Balance:	£481
Last payment:	£1.00 | February 2016
Last fill payment:	£110 | February 2012
Arrangement:	None
Status:	Default | off credit report
Owner:	Lantern

Fell of credit report May 2018, MMF/Lantern send email January 2018, payment set up for £2 a month, last payment June 2018, SAR letter sent, received all documentation including a breakdown and CCA. Full payment was £722 as stated in the CCA but on account info in SAR letter interest is £590, so that's £368 in extra charges . Have paid Lantern £8.

2012
Email tennis - notice of overdue payment, payment plan offer, unable to afford payments
Email - notice of formal complaint, payment plan offered by QQ, ignored
Email - debt referral - ARC

2015
Back to QQ
Balance recieved via email - balance 695, 170 received from ARC - £499 in default
Overdue payment emails

2016
Overdue payment emails
Loan balance requested - nothing received

2017
Overdue payment emails - only 2 this time
Notice of sale

2018
Notice of assignment - MMF
Repayment plan confirmation
Fell off credit report
SAR sent + documents received
Repayment plan closed by me

Received response for IR

We thank you for your complaint regarding the above account. We take complaints very seriously and have investigated the matter fully. However, our investigation indicates that the matter you are complaining of occurred outside the complaint handling time limits.

As you may know, we are regulated by the Financial Conduct Authority (FCA) and are bound by their rules and guidance. The complaint handling rules are known as DISP and specifically in your case, DISP 1.8.1( R ) states
"If a respondent receives a complaint which is outside the time limits for a referral to the Financial Ombudsman Service (see DISP 2.8) it may reject the complaint without considering the merits….”

Our investigation determined that the event you are complaining of, i.e. when you took out your loan/s, occurred outside the time limits below and we are therefore rejecting your complaint on this basis.

We appreciate your comments about the loan/these loans being unaffordable. However, as your loans were taken out greater than six years from the time of your complaint, you would have been reasonably aware of this issue at the time you were making your repayments.

I understand you may be disappointed but hope this explanation explains why we have taken this position.

If you remain unhappy with our Final Response, we need to ensure you are aware of your rights of referral to the Financial Ombudsman Service (FOS).

You have the right to refer your complaint to the Financial Ombudsman Service, free of charge.
The Ombudsman might not be able to consider your complaint if:

• what you’re complaining about happened more than six years ago, and
• you’re complaining more than three years after you realised (or should have realised) that there was a problem.

We think that your complaint was made outside of these time limits but this is a matter for the Ombudsman to decide. If the Ombudsman agrees with us, they will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances (see below).

If you do decide to refer your complaint to the Ombudsman you must do so within six months of the date of this letter.

If you do not refer your complaint to the Ombudsman within six months of the date of this letter, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances.
The very limited circumstances referred to above include, where the Ombudsman believes that the delay was as a result of exceptional circumstances.

As this is our Final Response regarding your concerns to the above referenced account, if you are not happy with this outcome I need to ensure that you are aware of the ultimate availability of the Financial Ombudsman Service. You have the right to refer your complaint to the Financial Ombudsman Service, free of charge but you must do so within six months of the date of this letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. I have provided you with a link to the leaflet for your information to assist you if you decide to pursue this further course of action. They can be contacted at:
The Financial Ombudsman Service,
Exchange Tower,
London,
E14 9SR.
Tel: 0300 123 9123

Please make note, a right to access your QuickQuid/Pounds to Pocket account has been submitted on your behalf. You will receive a separate email with instructions.

Should I now go down the CCA route? or just wait as I haven't heard from Lantern for a while.

[debrag]

was that a PAP letter of say 4-5 pages pre action protocol type? letter

if not then not pre action letter

no it was just one page

[The Tech Clerk]

was that a PAP letter of say 4-5 pages pre action protocol type? letter

if not then not pre action letter