Getting myself out of debt

[Roger]

In which case it will definitely need a compliant S87(1) Default Notice and all the other notices the CCA requires.

Pat is correct of course

Plus and this is very important!
Did or have you used this revolving credit to pay off other DEBTS!
Often these are just debt consolidation Loans!
But if the original debt(s) was UE this can be seen as trying to dress a turd, that is trying to nake something EN where actual the old deebt was UE
It is to you advantage to look at this revolving credit and see where the money was spent!

[debrag]

Just received the following email:

LEGAL NOTICE OF ATTACHMENT OF EARNINGS

Hi xxx, This is xxxx from FCA (Financial Conduct Authority) hope you are doing well. I just would like to tell you that we have got a legal complaint against you from your creditors where you are not making the contractual payments or managing just minimum payments towards them.

So this is why these creditors have approached us in order to get the “CCJ” action against you. So that they can have the attachment of earnings with your income of £464.36 every month for these accounts with your income from this month itself, so that they can cover all the money from your side asap because as per the creditors they gave you enough chance to get the arrangements done through the government help known as an "IVA" but you refused to get that help and now they are looking to have legal action against you.

If you do not want to have any sort of legal proceedings and you are struggling with your financial situation and want to get these debts sorted, you do have "three options" left for yourself from these creditors apart from the CCJ.


If you wish to sort-out these debts. we will transfer you to our help desk team to get your finances back on track.

You have to laugh. It also came from a gmail account.

[The Tech Clerk]

Just received the following email:


You have to laugh. It also came from a gmail account.

send email to:- report@phishing.gov.uk

[stuckinarut]

Just received the following email:


You have to laugh. It also came from a gmail account.

You couldn't make it up, must think you were born yesterday, As Tech Clerk says, forward it to the government body, This type of charade needs nipping at the bud??????

[debrag]

So SafetyNet credit have finally sent me a default notice. I haven't paid anything since September 2019 (3.5 years)! My agreement is going to be terminated and if not paid in full they will seek recovery where necessary by recourse to formal legal proceedings. They may also register a default (about time).

Shall I just continue to do nothing? They are in administration so do you think they will go as far as court for £1213? If they register my default wrong I will just wait till the debt is SB they get it corrected.

[Roger]

So SafetyNet credit have finally sent me a default notice. I haven't paid anything since September 2019 (3.5 years)! My agreement is going to be terminated and if not paid in full they will seek recovery where necessary by recourse to formal legal proceedings. They may also register a default (about time).

Shall I just continue to do nothing? They are in administration so do you think they will go as far as court for £1213? If they register my default wrong I will just wait till the debt is SB they get it corrected.

The Case Law points to the Default Notice last date to remedy as the starting time for Statute Bar.
However there are constraints on when Default Notices should be sent and 3.5 years seems frankly ridiculous.
There are other considerations such as whether the Account had become closed (sic the terms of the CCA).

You need to create a Diary Entry for SafteyNet credit and bring this up to date!

At some point you will probably need legal advice in this matter and the Diary WILL BE IMPORTANT

[debrag]

Debt: SafetyNet Credit

Opened:	October 2017
Type:	OD style loan
Current Balance:	£1214
Last payment:	September 2019
Last fill payment:	September 2019
Arrangement:	None
Status:	Arrears/Dormant October 2019

2020
November - installment reminder/hold email received
November - affordable arrangement email received

2021
February - arrangement set up email received
February - installment reminder email received
February - affordable arrangement email received
May - set up plan email received x 3
May - NOSIA notice of sums of arrears email received

2022
April - affordable arrangement email received
July - cost of living/help email received
July - affordable arrangement email received
August - monthly statement email received
August - please log onto your dashboard email received
September - monthly statement email received
October - monthly statement email received
October - NOSIA notice of sums of arrears email received
November - monthly statement email received
December - monthly statement email received

2023
January - monthly statement email received
January - administration email received
February - monthly statement email received
March - monthly statement email received
April - monthly statement email received
May - monthly statement email received
May - Arrears letter + email arrived
June - email & text to tell me to set up a payment plan - account now on hold for 14 days.
July - statement email
July - email to tell me fro 4th august phone line and live chat will stop working.
August - statement email
September - statement email
October - recovery instruction letter received by email from Credit Resource Solutions ltd.
December - 25% discount offer email. will ignore

2024
January - last personal message from CRS
February/March - phone calls from a CRS, not answered
March - email from iml admin

[Pat]

Debt: SafetyNet Credit

Opened:	October 2017
Type:	OD style loan
Current Balance:	£1214
Last payment:	September 2019
Last fill payment:	September 2019
Arrangement:	None
Status:	Arrears/Dormant October 2019

2020
November - installment reminder/hold email received
November - affordable arrangement email received

2021
February - arrangement set up email received
February - installment reminder email received
February - affordable arrangement email received
May - set up plan email received x 3
May - NOSIA notice of sums of arrears email received

2022
April - affordable arrangement email received
July - cost of living/help email received
July - affordable arrangement email received
August - monthly statement email received
August - please log onto your dashboard email received
September - monthly statement email received
October - monthly statement email received
October - NOSIA notice of sums of arrears email received
November - monthly statement email received
December - monthly statement email received

2023
January - monthly statement email received
January - administration email received
February - monthly statement email received
March - monthly statement email received
April - monthly statement email received
May - monthly statement email received
May - Arrears letter + email arrived

I will look to see if I have any actual letters later.

You say this was an overdraft type of loan. Do you mean that this is revolving credit- you have an amount you can take and as you pay it off you can then take more. I think this might be more accurately described as revolving credit. If that is the case a S78 request might be appropriate at some point. However if they are not actively chasing you it might be unwise- I certainly wouldn't do anything at the moment.

[Pat]

Do you realise they are in administration - I suspect that this is why you have been sent a default notice https://www.safetynet.credit

Therefore, at some point I suspect the debt will be sold to a debt purchaser. However I think the parent company is still registered by the FCA and has to follow the FCA procedures

https://register.fca.org.uk/s/search...type=Companies

If and when it is sold on, that may well be the time to send the S78 request- do you still have a copy of the agreement?

[Roger]

Which raises the legal question can an Agent (Administrator) send a Default Notice!
Because SafetyNet Credit were sending
2021 May - NOSIA notice of sums of arrears email received
2022 October - NOSIA notice of sums of arrears email received

Since SafetyNet Credit are in Administration it seems the question they can't send a Default Notice
So the legal question is can their Agent?
I don't know even whether they can honour a S.78 request.

As I pointed out
".. At some point you will probably need legal advice in this matter and the Diary WILL BE IMPORTANT.."
Well done for the Diary!

Don't presume watch what happens but I suspect legal advice will be appropriate

[Pat]

If you read the FCA notice it says 'This firm is in administration. It has stopped taking on new business but has to continue to meet our standards in dealing with its customers'. Therefore it is able to send the required notices which maybe includes the S87(1) DN. As this is in totality £1200 I doubt very much it would be appropriate to pay for legal advice. If it all got heavy you might be able to make an offer for less than legal fees- just something to keep in the back of your mind.


Usually, administrators sell on the 'book' to a debt purchaser such as Lantern. Depending on when and if, that may be the time to send the S78 request but if it were me I would wait until I got some unwanted attention from them.

Have you made an affordability complaint? Have you had any emails about them?
https://debtcamel.co.uk/affordabilit...t-record-faqs/

[Roger]

BUT they had been issuing NOSIA notices for several years implying that a Default Notice had been issued and or that the Account had been closed?

Happened with some of my Debts ! Closed without DN and then later issued DN on closed Accounts (A NO NO)
I don't know. Your Choice but remember the DCA's have COMPLEX LEGAL ISSUES OVER OWNERSHIP and Agencies and Authorisations.
I DON'T PRESUME AND I DON'T ASSUME just record in your Diary (well done) so that when and or if you require legal advice the information is there to help YOU.
THIS IS THE AAD WAY

If matters progress then by all means (excellent suggestion) but for the moment SILENCE
https://debtcamel.co.uk/affordabilit...t-record-faqs/

[debrag]

Do you realise they are in administration - I suspect that this is why you have been sent a default notice https://www.safetynet.credit

Therefore, at some point I suspect the debt will be sold to a debt purchaser. However I think the parent company is still registered by the FCA and has to follow the FCA procedures

https://register.fca.org.uk/s/search...type=Companies

If and when it is sold on, that may well be the time to send the S78 request- do you still have a copy of the agreement?

yes I do and that it why was wondering what they can do. No I don't still have the agreement.

[debrag]

You say this was an overdraft type of loan. Do you mean that this is revolving credit- you have an amount you can take and as you pay it off you can then take more. I think this might be more accurately described as revolving credit. If that is the case a S78 request might be appropriate at some point. However if they are not actively chasing you it might be unwise- I certainly wouldn't do anything at the moment.

Yes a rolling credit. Sorry I didn't make it clear above but they are now chasing me that is what I asked questions. I got the 'pay before 30 June' email and letter.

[Roger]

Yes a rolling credit. Sorry I didn't make it clear above but they are now chasing me that is what I asked questions. I got the 'pay before 30 June' email and letter.

Yes I understood that.
A SAR at somepoint will be required.

Now the question is the reason for the A/c! Was this to pay off an existing Debt elsewhere. Rolling Credit was used that way! If So were SafetyNet Credit aware of this?
Was it an existing Debt or New Debt? This is important also is it secured in any way?

Status: Arrears/Dormant October 2019

A Dormant Account? (The presumption is for CREDIT Account not Debit hence an issue of the legal position)
Dormant Bank and Building Society Accounts Act 2008

".. A dormant account is not the same as a closed account. A dormant account is an account that has had no activity for a long period of time, usually between three and five years. .."


Creditkarma has it opened but delinquent, clearscore has it as 'in arrears' - missed payments since May 2019. Will it fall off one but not the other eventually?

This has been reported CRA's and this is acting to your detriment because of your credit rating!

Consumers’ debts come with an expiration date known as a statute of limitations that limits the timeframe collectors can pursue legal actions against you.

Now your question is about a DORMANT DEBT ACCOUNT in the hands of an Administrator! Who has issued a Default Notice ? but in their or SafetyNet Credit name?

My understanding is they would have to send a LETTER BEFORE CLAIM before they could SUE you.
Most likely this is to Sell the DEBT with other DEBTS.

I hope you can see its a can of worms isn't it?
I would wait and see what happens next!
It will help you and AAD if you can remember if this Loan was for an existing Debt or was New Money!