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  • #1

    Should a DCA have said this?

    Just wondering...

    The one DCA I do talk to (re an enforceable debt) - Rockwells - asked me yesterday if I'd considered releasing equity from my property to be able to pay the outstanding amount in one lump (it's a £3k debt).

    I flatly refused and am carrying on making monthly payments. I did point out that they are currently getting more per month pro rata than some of my other creditors (I forgot to mention that the others aren't getting anything cos they're UE :yeah )

    Just wondering if releasing equity is something a DCA is supposed or permitted to suggest? Just in case they ask again.
    Niddified and proud!

    Fought and won the UE battle, thanks to Niddy and this forum...
    SB since 2016. Now have my life back!

    (I used to be MustGetStraight but I've lost a "t")
    Tags: advice, business, collection, creditors, dca, debt, debt collection, debtors, financial, funds, lost, money, monthly, nice, pay, payments, pressure, property, unfair
  • #2
    Re: Should a DCA have said this?

    A DCA would suggest you sell your granny. Anything as long as they get their money !
    I hereby promise to treat Debt Collection Agencies with the same values that they treat me. UTTER CONTEMPT !!

    Comment

    • #3
      Re: Should a DCA have said this?

      Tell em to get lost and ask if they're regulated to give financial advice!!

      No they cannot say such things - but doesn't mean they WON'T say it... Muppets.
      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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      • #4
        Re: Should a DCA have said this?

        Cheers! Thought they shouldn't. Will keep that handy in case they try that one again!
        Time for a Muppet smiley or two...
        :bert :kermit :beaker cooter :teeth
        Niddified and proud!

        Fought and won the UE battle, thanks to Niddy and this forum...
        SB since 2016. Now have my life back!

        (I used to be MustGetStraight but I've lost a "t")

        Comment

        • #5
          Re: Should a DCA have said this?

          Debt collection guidance
          Final guidance on unfair business practices July 2003 (updated December 2006)

          Physical/psychological harassment
          2.5 Putting pressure on debtors or third parties is considered to be oppressive.
          2.6 Examples of unfair practices are as follows:

          b. pressurising debtors to sell property, to raise funds by further
          borrowing or to extend their borrowing

          Quote that to them chapter and verse :bad
          It's taken years of hard work to earn the capital N in Numpty

          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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          • #6
            Re: Should a DCA have said this?

            Oooh thanks Numpty!
            Niddified and proud!

            Fought and won the UE battle, thanks to Niddy and this forum...
            SB since 2016. Now have my life back!

            (I used to be MustGetStraight but I've lost a "t")

            Comment

            • #7
              Re: Should a DCA have said this?

              Nice one - cheers Numpty!
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

              If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

              Comment

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