Getting myself out of debt

[debrag]

Hi

I am curious as to why you think the Lending stream debt may be SB in March 19, is that the date they recorded a default or were you making payments of some type up until then?


As for the rest, well it really is hard to give advice or even an opinion because every case is different. What I will say , from personal experience, there is a lot more to unenforceability than the S77/78 request although they are a good place to start

One thing I am never sure of is if a S87(1) DN is needed before a claim can be brought for a fixed term loan . I believe there used to be exceptions when the term was less than 3 months however many PDL's tried to become lines of revolving credit (like a low limit credit card really) and if that is the case a DN is needed. What is more a DN should be served by post and not email which is what they try to do.

I would be careful with Lantern- since they rejigged their ownership they seem to have 1) got their house into some type of order and b) become quite free and easy issuing claims

I had multiple payday loans from around 2012 or before. Some I settled, some I kicked up such a fuss they went back to the original creditor and some are now SB.There are only 2 or maybe 3 that could in theory try it on and only one of them is of any significant amount which I think they would have a problem justifying in court

Have you made affordability complaints against both PDL's ?

The last email I can find is from January 2013 where I am disputing the balance and charges. I don't remember paying after that (SAR will tell). The default date is November 2012

I am doing SAR requests to get the required info for affordability complaints

[debrag]

As my QQ CCA is enforceable should I set up a repayment plan or leave it as it's no longer on my credit report?

[debrag]

Debt 13 Trugym

Opened: August 2012
Current balance: 86
Last payment: None as was set up for Credit Resource Solution by mistake, Credit Resolution Services don't have a function to set up payment online, I won't be paying them then.
Last full payment: March 2013
Arrangement: Nothing
Status: Default on credit report (March 2013)
Owner: Credit Resolution Services, account being sent back to Trugym



2014

January - Email from Zinc "we have been instructed by our client to assist you with the resolution of your account."
March - Missed payment
April - Missed payment
June - balance update by email - £162
July - Settlement offer email - £114.33
July - Payment reminder email x 2

2015

September - Arrears email, balance now £52.44
September - Settlement offer via email £39.33
September - email regarding settlement offer
October - Missed payment email, appear I was paying till May 2015
October - Payment reminder, £2.44
November - Trying to make contact email x 2, balance now £50, did I pay the £2.44??
December - We have not received a response email x 3

2016

January - We have not received a response email x 3
Contact from CRS

2017

June - Letter received stating account sent back to CRS

Updated debt, possible last payment made October 2015 so SB October 2021

[Warwick65]

As my QQ CCA is enforceable should I set up a repayment plan or leave it as it's no longer on my credit report?

You are saying the debt is enforceable. Do you mean the S77/78 request is compliant?

Other questions might include- Did you receive a Default notice, if so how was it delivered- by post, by email?

have you received annual statutory notices?

Did you receive a notice of assignment?

Do you know exactly how the amount accrued and is that accurate to the terms and conditions- even if they are , they might be unfair

As to if you should set up a payment plan, well only you can decide that. My QQ was from about that time and is now SB- mind I did catch a DCA ( a predecessor to MMF based in Kilmarnock) out because I had an email from QQ saying the balance was 0 and the account had not be transferred or sold to a third party).

I am afraid I can not say do or don't - it really is your decision but you will find support here if you decide to tough it out

[debrag]

You are saying the debt is enforceable. Do you mean the S77/78 request is compliant?

Other questions might include- Did you receive a Default notice, if so how was it delivered- by post, by email?

have you received annual statutory notices?

Did you receive a notice of assignment?

Do you know exactly how the amount accrued and is that accurate to the terms and conditions- even if they are , they might be unfair

As to if you should set up a payment plan, well only you can decide that. My QQ was from about that time and is now SB- mind I did catch a DCA ( a predecessor to MMF based in Kilmarnock) out because I had an email from QQ saying the balance was 0 and the account had not be transferred or sold to a third party).

I am afraid I can not say do or don't - it really is your decision but you will find support here if you decide to tough it out

I received a notice of assignment January 2018 via email from MMF

Yes the S77/78 is compilant, no annual statutory notices.

My credit agreement with qq states that I need to repay £722 (£500 loans + £222 interest) and that there are no additional charges after the due date, only £12 late fees.
Well my statement shows interest of £147 added 4 times and 2 late charges. Meaning that my balance when sold/transferred on should have been £302.76 not £819.
I have since paid off £559.08. My account info does however mention a rollover/extension twice so does the 2 extra interest charges of £147.5 each stand?

[debrag]

What settlement figures do you think I could achieve (if anything) on the following:

Natwest OD: 1248
Very: 767
JD Williams: 1740
Marbles: 665

I have a few small debts: 167; 86; 127 that if enforceable I will try and just pay off, don't think I'd get any offers on such low balances. One is a credit card, one a pdl the other a gym.

[debrag]

Debt 12 QQ

Opened: January 2012
Current balance: 481
Last installment payment: £110.00 | February 2012
Last payment to QQ: February 2016
Arrangement: Reduced payment
Status: No longer on 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

As this debt is enforceable should I continue to make the £2 monthly payment or should tell them that the account is in dispute following an IRL claim on going?

[Roger]

Have you sent MMF a S.77/78 CCA plus £1 request? If not do so then stop payments after 14 days because it is UE until they produce a Valid CCA.
I wouldn't mention IRL claim at this time, save this for later. When and if it becomes necessary! (HOLD YOUR CARDS CLOSE TO YOUR CHEST!!)

[Still Waving]

Originally posted by debrag View Post

Debt 12 QQ

Opened: January 2012
Current balance: 481
Last installment payment: £110.00 | February 2012
Last payment to QQ: February 2016
Arrangement: Reduced payment
Status: No longer on credit report
Owner: Lantern

As this debt is enforceable should I continue to make the £2 monthly payment or should tell them that the account is in dispute following an IRL claim on going?

Out of interest - who has said that this agreement is enforceable?

[debrag]

Originally posted by debrag View Post

Debt 12 QQ

Opened: January 2012
Current balance: 481
Last installment payment: £110.00 | February 2012
Last payment to QQ: February 2016
Arrangement: Reduced payment
Status: No longer on credit report
Owner: Lantern





Out of interest - who has said that this agreement is enforceable?

Niddy and as I stupidly making small payments it isn't SB or anywhere near it

[Still Waving]

Niddy and as I stupidly making small payments it isn't SB or anywhere near it

OK, thank you - the history didn't make that clear.

[Roger]

OK, thank you - the history didn't make that clear.

Irrespective of whether it was or not EN when last looked at. It was opened more than 6 years ago.
The point I am making is by sending a CCA S 77/78 plus £1 now to MMF and then stopping payments (don't mention the IRL Claim.at this time)
Either they find the CCA or they don't and until they do it is UE.
There are also other reasons for UE . But start with CCA S.77/78 (there is no limit in Law to asking for this more than once and especially now with a new Current Creditor).
Also can you be more specific about MMF? Please can you give their full name and address. I can't find them on the FCA register..
.

[debrag]

Irrespective of whether it was or not EN when last looked at. It was opened more than 6 years ago.
The point I am making is by sending a CCA S 77/78 plus £1 now to MMF and then stopping payments (don't mention the IRL Claim.at this time)
Either they find the CCA or they don't and until they do it is UE.
There are also other reasons for UE . But start with CCA S.77/78 (there is no limit in Law to asking for this more than once and especially now with a new Current Creditor).
Also can you be more specific about MMF? Please can you give their full name and address. I can't find them on the FCA register..
.

MMF is now Lantern - 83 Bradford Road, Stanningley, Pudsey, West Yorkshire, LS28 6AT

I have the CCA (from MMF/Lantern) which Niddy says is enforceable. I've heard MMF have gotten their act together since becoming Lantern. Surely I can't just stop payment on an enforceable debt

How else could it be UE?

[Warwick65]

There are lots of questions here that need addressing

As we have said, there are many reasons why a debt purchaser might find a debt unenforceable - some of them can be remedied , some can not.

Just a few reasons
Non compliance with a S77-79 request
Non compliance with S87./88 - the default notice and the serving of that default notice
Non compliance with sending regulatory letters
A bad assignment


I am sure I have already said, with one case that was taken to court, the original CCA request was enforceable although a later one (after the sale) was illegible however we won on no defaukt notice.
Others of mine have gone statute barred even though S77-79 requests were fully complied with.

I do not want to tell you to pay or not to pay- that is your decision but here are some pros and cons

Pros
They might go SB
If you do not pay , the chance of getting a low full and final in a year or two might improve

Cons
They might issue court proceedings - but they might even if you are paying . If they do, there are still plenty of opportunities to set up payment plans before it gets to court


It certainly used to be the case you had to wait a month between CCA request
The thing about PDL's is that they are all done online and are very easy to recon

Roger here is the link for Lantern https://register.fca.org.uk/ShPo_Fir...000001SFPUjAAP

https://beta.companieshouse.gov.uk/company/06637307

[debrag]

Well I don't appear to have the default notice but will check again. Regulatory letters - yearly statements etc?