Very Vague letter from Debt Managers Ltd

[nightwatch]

Re: Very Vague letter from Debt Managers Ltd

I would just wait and see what comes next, they may dig themselves deeper

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

PLOP!

Had another letter from DM today, they're after a Monument debt thet Fredricksons gave up on a couple of years ago, after I CCA'd them they handed the debt back and went away.

Having looked at the paperwork that came from them then I see that there have been no payments to the account since 07/01/07 so by my maths that makes it statute barred.

Am I correct?

I've sent off a CCA request to DM anyhow, the default was in April 2007 so some more stalling will see me past the default date too.

Any advice from anyone on this would be gratefully received, I'm kind of nervous and also a bit excited too. Sorry!

[Deepie]

Re: Very Vague letter from Debt Managers Ltd

PLOP!

Had another letter from DM today, they're after a Monument debt thet Fredricksons gave up on a couple of years ago, after I CCA'd them they handed the debt back and went away.

Having looked at the paperwork that came from them then I see that there have been no payments to the account since 07/01/07 so by my maths that makes it statute barred.

Am I correct?

I've sent off a CCA request to DM anyhow, the default was in April 2007 so some more stalling will see me past the default date too.

Any advice from anyone on this would be gratefully received, I'm kind of nervous and also a bit excited too. Sorry!

Have you already sent the CCA request ?

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

Have you already sent the CCA request ?

Yes I've sent it off today.

The paperwork I received from Freds was a load of statements and the photocopy of the front page of the application form that was missing all the terms, conditions, interest rates etc.

[Deepie]

Re: Very Vague letter from Debt Managers Ltd

Yes I've sent it off today.

The paperwork I received from Freds was a load of statements and the photocopy of the front page of the application form that was missing all the terms, conditions, interest rates etc.

I would have sent this if it were me -----> Statute Barred - England (6 years)

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

I would have sent this if it were me -----> Statute Barred - England (6 years)

Aha.

I sent the CCA in haste and then just now decided to have a recap on the file of stuff I have.

I'll wait for DM to come back empty handed as it were and then hit them with the statute barred line.

Thanks,

Traintester

[ScabHunter]

Re: Very Vague letter from Debt Managers Ltd

PLOP!

Had another letter from DM today, they're after a Monument debt thet Fredricksons gave up on a couple of years ago, after I CCA'd them they handed the debt back and went away.

Having looked at the paperwork that came from them then I see that there have been no payments to the account since 07/01/07 so by my maths that makes it statute barred.

Am I correct?

Possibly, possibly not.

It depends on the type of account, and when the first missed payment occurred. With a credit card, payments are typically at the end of the month, so the “cause of action” would occur one month after the last payment was made. Other accounts are different, so without knowing more it is impossible to say. If it isn't SB yet, it very soon will be.

I've sent off a CCA request to DM anyhow

Why would you want to do that? Not what I would have done but too late now. It shouldn't have any negative consequences as you're virtually over the finishing line.

Any advice from anyone on this would be gratefully received, I'm kind of nervous and also a bit excited too.

Now you've sent the request off I don't think there is anything more you need to do. If you know which type of account it is, it should be possible to calculate the exact statute barring date, which would be a big help.

SH

[Riz]

Re: Very Vague letter from Debt Managers Ltd

Well, the statute barred date is not always exactly 6 years from the last payment. Really depends on the account history. Under some circumstances it can be 6 years from the last payment +1 month say, if that is the initial accrual of the cause of action after which you never paid or acknowledged ever again.

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

Thanks all but I'm off on me hols shortly, will update when I get back.

I'll fetch you all a stick of rock ;-)

Traintester

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

If you know which type of account it is, it should be possible to calculate the exact statute barring date, which would be a big help.

SH

It's a Monument Visa Platinum, with some mention of COMPUCREDIT on another piece of paper from one of the DCAs.

The first statement that mentions a default of the account is dated 07/01/2007.

Traintester

[mgfboy]

Re: Very Vague letter from Debt Managers Ltd

I thought it was from the date of the default???

[ScabHunter]

Re: Very Vague letter from Debt Managers Ltd

I thought it was from the date of the default???

No, it is definitely never that (except by coincidence).

Section 5 Limitation Act 1980 says -

“An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

So, for a typical credit card debt, the “cause of action” accrues on the date of the first missed payment. In the case of my own Crappy One/Crapbot Farcical situation, the last payment was made on 30th November 2006. The payment which would have been due on 30th December 2006 was obviously not made, so the clock starts at that point. 30th December 2012 was the statute barring date.

Any payment by the account holder, or a written acknowledgment of the alleged debt, is considered to restart the limitation clock.

SH

[CleverClogs (RIP)]

Re: Very Vague letter from Debt Managers Ltd

I thought it was from the date of the default???

No - it is from the most recent of the cause of action, payment towards the debt, payment of interest on the debt or written acknowledgement of the debt.

Telling a creditor to go forth and multiply until/unless they can comply with a CCA request would probably be deemed to be an acknowledgement which would restart the limitation period. This may be of less importance here, as DM has something of a reputation (earned or otherwise) for making phantom payments to SB accounts.

[CleverClogs (RIP)]

Re: Very Vague letter from Debt Managers Ltd

Section 5 Limitation Act 1980 says -

“An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

This should be read with section 29 - link - subsections 5, 6 and 7.

So, for a typical credit card debt, the “cause of action” accrues on the date of the first missed payment. In the case of my own Crappy One/Crapbot Farcical situation, the last payment was made on 30th November 2006. The payment which would have been due on 30th December 2006 was obviously not made, so the clock starts at that point. 30th December 2012 was the statute barring date.

Any payment by the account holder, or a written acknowledgment of the alleged debt, is considered to restart the limitation clock.

So when did you tell CrapBot to fork off?

[Traintester]

Re: Very Vague letter from Debt Managers Ltd

So how likely are DM to make a dodgy payment to this account? It's slightly north of £4000.... And can a CCA request really reset the SB clock? I did use the CCA template from this very site after all!
Traintester.