A DCA Writes

[vossy]

Re: A DCA Writes

This takes some guts if it truely is to try and reach out.

Lets see eh? Weren't 1st Credit the ones to ignore everything you had to say and just head for Northampton?

I agree though, if it helps someone else that's great, in my case I had no idea that mine were UE until I got fired up, I had been happily paying for years and would probably still be today.

[cardiac arrest]

Re: A DCA Writes

I've not come into contact with 1st credit...but I think a lot of us debtors are aware that DCA's pay about 10% or so of the debts value...and then move heaven and earth to claim the full amount...only offering a 'discount' when backed into a corner.

I would like to see more negotiation from DCA's...they are not the injured party, the OC was, but gave up..so not many of us feel any (much) obligation to a DCA...so there isn't much love lost. But a DCA who is prepared to hold their hands up and say ok I know you can't afford, and I don't want to spend a fortune chasing the debt and hassling you...so how about you pay a quarter/half or something ...then we'll call it settled.

They make a quick buck..everyone happy/happier...

I wonder why DCA's don't want to go down that line...is it a vindictive streak in them that makes them go for the jugular...how much blood do they want ?

[ken100464]

Re: A DCA Writes

Totally agree Vossy.

But one DCA in this case 1st Credit themselves they have put you in a position where somebody is gonna potentially lose 16 grand.

Perhaps if they had understood your concerns and tried to help you then, you would be blissfully paying it all back now.

I know its their job to do what they do. But they could do it with some humanity.

PS I am not a bank/DCA advocate but vice versa I do think (not on here) some posters I have read are taking the piss and deserve to be in court. Internet warriors sometimes think their own dispute is more important that the actual debtors problems.

I think both sides have become polarised and any inititative to bring some understanding to both may help someone further down the line who doesnt think hey I will try the internet to try and find a solution but instead thinks the solution is on the end of a rope or in a bottle of pills.

1st Credit deserve to be heard cause I know one thing I wouldnt like to go out to bat for all debtors on a DCA forum. This takes some guts if it truely is to try and reach out.

[vossy]

Re: A DCA Writes

One one hand I suppose I have 1st Credit to thank, if it wasn't for their attitude that got me fired up against DCA's in the first place I would not be here nor would I be 16k to the good because of UE.
I am hoping that this will prove beneficial for people currently having problems with them, mine are over with I am glad to say, that is where I am leaving this now.

[ken100464]

Re: A DCA Writes

I think anything that can get two very distant sides to understand the other better then that has to be a good thing.

Isnt Jaw Jaw much better than War War.

We all have a very dim view of Banks and DCA's because of our own experiences.

But hand on heart I doubt everybody can say every Bank/DCA is the same and even different people can have very different experiences with different DCA's.

For us its RBS. We actually feel sorry for them. But many of you have right royal tussles with them.

I think 1st Credit should get credit where credit is due. If a DCA engaged with the debtor more personally then perhaps the debtor would engage more constructively with them.

As per Niddys post perhaps just the very fact of a resheduled repayment plan just when you need most it would be met with a greater wish to pay what is owed.

We only came here because of a period of unemployment and a DCA instead of dropping our payments was asking for more. That so to speak broke the camels back and drove us here.

I would be interested to hear what the guy has to say.

[vossy]

Re: A DCA Writes

Re 1st Credit, whether they have cleaned up their act recently or not I do not know, when they were chasing me I was asked by 1st Credit to reduce my mortgage payments to pay them more money which as we all know is a no no, I complained and they told me the call was recorded so I did complain officially to be met with abuse from a manager and an utter denial from the member of staff involved, and the call recorded was in a storage system that the data could not be retrieved from, they just did not listen or did not want to help me when I needed it so what is new now?
Maybe it will help people in future but to me they are still a DCA, all tarred with the same brush? Yes!

My opinion only, and I can only speak from experience.

[Never-In-Doubt]

Re: A DCA Writes

1st Credit will post here tomorrow - I'd really appreciate it if you do not abuse them. They have been invited by me to comment based on them winning a dca compliance award for a third successive year. They are interested to know what they can do to make it easier for you to communicate and pay, where necessary.

As some of you know, we have a working relationship with the Head of Compliance at 1st Credit and if you're in shit he will try and resolve things amicably so they are already proving that they're not like the other dca's who couldn't give a shit unless they're getting paid. I can confirm that a couple of dca's - one being 1st - DO actually try and help debtors wherever possible.

Just recently I know of a case where they've given a user here a years breàthing space. Not many can say they've been that helpful can they?

If you've got a genuine grievance and 1st Credit are chasing you, then you'd do well to appreciate the effort we both put in to maintain this relationship and as such I do not want anyone having a go at any rep of 1st Credit. If they can help, then trust me they will but ONLY if you talk to them. After all, they're not psychic and most probably unaware of any dispute.

Use the resources provided to your advantage, including having access to someone so senior at 1st Credit, willing to give up their time to try and help you.

Thanks.

[julian]

Re: A DCA Writes

Money to the individual, like us, is a means to live. Credit is an alternative form of money. Money to a bank is a commodity, like the talents in the bible, they must increase this commodity or feel the wrath of their lords and masters. They prefer credit to having to handle coin and paper.

Banks did not use to sell on debts by individuals as not many people had bank accounts. However in the last forty years or so, everybody has been forced to use banking in one form or another for wages, for benefits and for telephone and internet purchases. DCAs are the unfortunate cancer that has grown alongside some financial freedom.

The upshot is that banks hold a garage sale of unwanted products and DCAs take pot luck and buy lots blind. Then like a Delboy Trotter they scheme to get as much back as possible. The punter must look out for himself.

So the mechanisms used to collect are as cheap as possible, such as telephone calls and emails, 2nd class post with transparent envelopes, they do the equivalent of blackmailing you into paying by making it obvious to the whole community in which you live.

If their costs go up, they may not be able to make it through the winter, so they stay lean and mean, because they can.

[cardiac arrest]

Re: A DCA Writes

No they'd not, and that's quite irrelevant as well as its nothing to do with the purchase price of said debt.

Usually, even after absolute assignment, the dca has recourse to return the account and/or elements of it back to the OC so in cases where its clearly a mess they can just return it back to the OC.

A good sign then if it starts to be pass the parcel...or pass the 'hot potato'....(for the debtor) ?

[Never-In-Doubt]

Re: A DCA Writes

Do you know if the OC gets a further 'commision' on the ultimate settlement of any of these accounts...?

No they'd not, and that's quite irrelevant as well as its nothing to do with the purchase price of said debt.

Usually, even after absolute assignment, the dca has recourse to return the account and/or elements of it back to the OC so in cases where its clearly a mess they can just return it back to the OC.

[cardiac arrest]

Re: A DCA Writes

Do you know if the OC gets a further 'commision' on the ultimate settlement of any of these accounts...?

[Never-In-Doubt]

Re: A DCA Writes

What, how much they paid for a debt ? Not sure, I just worked on 10% but it's probably less than that. Nice job if you can get it as the saying goes.

Between 8-12p in the £ is the average purchase price of a delinquent debt.

[Never-In-Doubt]

Re: A DCA Writes

Could this info not be found out via FOI and SAR requests?

Nope. FOI is only for government departments/quango's and anyway its exempt from DPA classification based on the sensitive nature - bit like asking tesco to list it's suppliers in a SAR

[Fred Bassett]

Re: A DCA Writes

If a DCA wrote: "We only paid 5% of the face value of your account and would be willing to settle for 7.5% paid over a reasonable period of time" - then they would be talking.

[lookingforward]

Re: A DCA Writes

if they did that i'd say i'd pay them £300 in F&F

Still in profit both of us then really

I'd say, love to but I haven't got £50 spare let alone £500