A DCA Writes

[jon1965]

Re: A DCA Writes

Indeed. i was offered all sorts of help and advice by various dcas and institutions. Hence i went to see a wills and probate solicitor just to get clarity.

It was a steep learning curve as i had to do it all myself but i know a lot more now than i did then.

[cardiac arrest]

Re: A DCA Writes

Jon - I know mate hence my sarcy comment. Weren't you given some right old nonsense by dca's at the time you had to deal with the estate? I hope this makes sense lol. Don't take it the wrong way! I'm trying to say according to some DCA's - you pay funeral costs last

Anyway just wanted to clarify what I meant

Also guys, what is CCCS? It's now been renamed

Sorry, SCDC.....

[Never-In-Doubt]

Re: A DCA Writes

Jon - I know mate hence my sarcy comment. Weren't you given some right old nonsense by dca's at the time you had to deal with the estate? I hope this makes sense lol. Don't take it the wrong way! I'm trying to say according to some DCA's - you pay funeral costs last

Anyway just wanted to clarify what I meant

Also guys, what is CCCS? It's now been renamed

[helmsman]

Re: A DCA Writes

It would be interesting to know the numbers...how many people have CRA entries, how much the debt is, how many CCJs are in existence or are on DMP's...

Pity we can't all turn ourselves into companies, put the debts in there...then liquidate and pay the creditors 10p in the £1....After all, they assume we are a 'legal entity' when the contract is made. I'm not looking at avoidance, just wondering when reality will be brought to this DCA business...but I know the whole process is to act as a deterrent to potential debt defaulters.

I wonder if when the OC sells the account we could ask them to let us know and let us take part in the auction .... after all, house/car/furniture repossessions go to public auction..

Yes I have a ccj whilst withh cccs paying every month went to court the judge was sympathetic to us he halved the payment now that tought them a lesson, dont be so greedy.

[jon1965]

Re: A DCA Writes

Niddy
A question was posed and I gave the correct legal advice. The first claim on any estate is the funeral costs followed by representatives reasonable expenses and certain other priority debts.
Then if there is not enough money to pay all the unsecured debts they get pro rata payments.
As you know I had to be very careful to do it correctly and took legal advice (paid for from the estate)

As Paul said , a CCJ is a valuable asset , in that it becomes an asset on the DCA's balance sheet and so long as they keep it live it will never go away (apparently) although Barclays tell me the one I had been paying for years was so old they couldn't chase it ( I think it is more like they had lost all the paperwork etc)

As for 1st Credit, most of the dealings I had with them were when I was involved in a DMP and to call them careless was an understatement. Even with contact from my DMP provider giving full details etc and phone calls to them as well they still harassed me by phone and email. I will say that they did pass it back and the account is now with a bunch of stupid scottish people

[cardiac arrest]

Re: A DCA Writes

It's not only individuals though is it, companies' sell off non performing debts too, where their customers don't pay for goods/services received. The industry is massive, and for some companies, having recourse to some cash by selling their bad debts is a life saver. The smaller business is the most exploited, with often in excess of 180 days taken by its customers...using them to provide interest free cash flow benefits...especially the bigger corporations.

Often it gets so bad that some go in for factoring, so they get 80% of their invoices paid on presentation by one of the Factoring agencies, just to keep the businesses cash flow going.

Somewhere along the line private individuals (well legal entities really) have got caught up in this mullarky. Most debts sold are non performing, and are in batches of £250k or above..often with a contract on a monthly basis with a DCA. Volume is everything for a DCA, and the bigger the debt the better...no matter if nothing has been paid for 18 months or so. A DCA is happy to pursue where it feels there is a chance of recovery..but they won't dispose of the others until they need more cash. So they sit there, for years. They don't deal in single accounts...hence why they won't write off or settle...they'll batch them up into a decent volume and sell on again. They'll 'provide' for bad debts against their profits, so everything is covered and tax and risk are minimised.

Surprisingly, in times of recession the debt business becomes more challenging for the DCA's (collective ....awe...shame), and margins are fairly low. Maybe we'll see some of them go to the wall...then the liguidator might offer us a chance to buy our alleged debts ? (dream on)

If everyone stopped paying, all DCA's would go bust, the courts would not be able to cope with the volume before the DCA ran out of cash balances. By the time the case came to court, the complainant would no longer exist. (not that I'm advocating that of course)..

[CleverClogs (RIP)]

Re: A DCA Writes

The only reasons why DCAs exist are that some companies prefer to have outside firms chasing reluctant debtors and that, if that approach does not work, the debt can be assigned absolutely to another person or company, with any loss to the original creditor written off against profits and hence against tax.

If the OC were obliged to offer to settle the account with the debtor for the same price they'd get for it by assignment to a debt collector (plus a small fee to cover additional admin costs) there might be rather less misery caused.

[ken100464]

Re: A DCA Writes

We'll come up with a million and one reasons to close down DCA's but its finding even ten reasons to keep them that seems to be a problem.

Good grief that has so made me chuckle.

Thats like the lists you see in films and such.

The pros and cons list.

Where the cons are finished first and they have pages and pages then they get to the pro list and cant think of any reason why.

Thanks brightened my day for sure.

[Never-In-Doubt]

Re: A DCA Writes

I'd always assumed that Inheritance Tax would be the first call on my estate.

[CleverClogs (RIP)]

Re: A DCA Writes

Yes if there are sufficient assets,debts are repayable before distribution.
There is a certain order of priority though so make sure you pay the priority debts first, funeral costs and headstone as well as expenses are at the top of the list

I'd always assumed that Inheritance Tax would be the first call on my estate.

[Never-In-Doubt]

Re: A DCA Writes

DCA's are there to make profit like Tesco and like Amazon.

It's not what they do that bothers me; if there's a market for them then great. What irks me is the processes and lack of compliance so any dca that starts the trend of "Treating Customers Fairly" wins my vote.

We'll come up with a million and one reasons to close down DCA's but its finding even ten reasons to keep them that seems to be a problem.

[ken100464]

Re: A DCA Writes

.but I know the whole process is to act as a deterrent to potential debt defaulters.

..

And that is why it will never change.

The DCA's are all bleating on about compliance and how its going to change the industry. They are saying they have to evolve to survive.

Dispute resolution will be in compliance. So a debtor who knows his/her stuff and asks awkward questions, wont sit down and shut up will be as welcome as a fart in a spacesuit.

They need the wont and cant pays to engage. They need to work out if we are a genuine cant and not a deliberate wont. They need to profile us.

All the purile template stuff we see on here not dealing with the actual complaint wont do in an era of compliance and checking of compliance.

And where is this push coming from. Oh yes the very OC's who make the mess in the first place. But how do they push the DCA's into this position. Oh yes no likey no dealy.

And the lifeblood of the DCA is shut off and they slowly dry up as their portfolio is collected.

Any DCA not keeping to the plan wont exist for long.

Nothing will change anytime soon. Western society is built on this plan.

Just they like to dress it up all fluffy and nice. But so was the wolf in sheeps clothing.

[cardiac arrest]

Re: A DCA Writes

It would be interesting to know the numbers...how many people have CRA entries, how much the debt is, how many CCJs are in existence or are on DMP's...

Pity we can't all turn ourselves into companies, put the debts in there...then liquidate and pay the creditors 10p in the £1....After all, they assume we are a 'legal entity' when the contract is made. I'm not looking at avoidance, just wondering when reality will be brought to this DCA business...but I know the whole process is to act as a deterrent to potential debt defaulters.

I wonder if when the OC sells the account we could ask them to let us know and let us take part in the auction .... after all, house/car/furniture repossessions go to public auction..

[ken100464]

Re: A DCA Writes

What's the point of getting CCJ's against people who have no means to pay...waste of court time, causes anxiety and stress and surely costs the DCA a mint too.

?

Think you will find this is just added onto the debt if they win hence why they are so happy to chance it.

For everyone on a place like this keeping them honest (cant believe I used the word honest when referring to a DCA) there will be many many peeps who dont have a clue and just accept the CCJ.

It aint cost them anything and has gained them the protection of the court on maybe a debt that isnt correct (CCA DN whatever they messed up with)

Courts are quite plainly being used as a debt collection tool but the judges dont want to see they are being used as they just see the dirty debtor.

I think the only debt profiling that goes on is how much squealing the debtor will make if they push em through the system.

Frankly they dont care.

[cardiac arrest]

Re: A DCA Writes

Yes if there are sufficient assets,debts are repayable before distribution.
There is a certain order of priority though so make sure you pay the priority debts first, funeral costs and headstone as well as expenses are at the top of the list

so, debts live on after you pop your clogs ?

"I bequeath to my children all my debts" ...I presume if the estate does not have sufficient to pay these off then they do at that point expire with me ...can I have them cremated with me, I've sort of lived with them for so long so might as well lie with me for ever eh...like eternal friends ?