1st Credit | HBOS Mass Assignments

[Blue Star]

Hi

I notice 1st Credit have recently purchased a tranche of HBOS agreements which usually starts with them sending a Notice of Assignment followed by some lame threat, usually a threat to make you Bankrupt.

Now the thing with 1st Credit is that they make these threats deep in the knowledge that they have already been warned against it by the OFT - Link Here.

OFT said that an investigation had revealed that 1st Credit had failed to meet “satisfactory standards” and was ordered to stop using threats of bankruptcy to recover money when there was never an intention to bring about bankruptcy proceedings. 1st Credit must now report to OFT every 6 months with details of the enforcement actions that it has taken against debtors, which could also mean a £50,000 and a revocation of it’s consumer credit licence.

So as you can see, they have not learned their lesson nor have they adhered to the OFT Requirements. 1st Credit will argue that they do intend to make you BR so the OFT requirements are not reflective - they are surely mistaken. The actual truth of the matter is that they must not issue threats of BR willy-nilly without good cause and justifiable within the standards of a bankruptcy petition. This means they cannot issue BR threats for small debts, disputed debts, debts that they are not assigned and most importantly debts that are in the middle of an ongoing dispute prior to their involvement.

I'm trying to explain that 1st Credit must consider the fact that most of you here have been going down the unenforceability route for some time with disputed aspects of the paperwork issued. 1st Credit must take this genuine dispute into account, it'd be easier if they actually returned the account the the bank which is what this thread centres around, so in a nutshell the aim of this thread is to go through a basic guide that will allow you an opportunity to get 1st Credit to play fair and treat you like a consumer with rights, as opposed to treating you like a 'dirty debt dodger'.

I have full permission from the site team to create this thread and I have been verified by Niddy and various other mods. Clearly I am an AE of a regular user here that wishes to remain anonymous.

Good Luck.

[Blue Star]

Re: 1st Credit | HBOS Mass Assignments

Ok, so the first thing you'll get from 1st Credit is a NoA (Notice of Assignment) which will tell you the balance and the date of transfer from HBOS to 1st Credit - this document is very important long term so keep it safe and try and retain the envelope and put the date received on the envelope.

Next, they'll issue a threat of bankruptcy which is where we go back to basics and request a CCA from them. Do not worry about the threats made, just get a CCA sent off asap ---> Our Templates | Unenforceability Templates | CCA Request

The template below is what you would usually respond with, upon receiving the 1st Credit dreaded threat of BR/SD/CCJ - this applies whether you're a home-owner or not (remember to edit the BR wording to that of SD or CCJ as appropriate). But do not send it if you have an outstanding CCA Request.

* Delete/Edit the red guide text within the template

Dear Sirs

Account No/Reference No: XXXXXXXX

I write with reference to previous correspondence and in particular your rather unnecessary threat {to make me bankrupt}/{to issue a statutory demand}/{to apply for a county court judgment}. (select one of the three options and delete the other two)

You may or may not be aware that this account is in dispute with the original creditor, HBOS, and has been ever since they messed up with my CCA Request in line with s.77-s.79 of the Consumer Credit Act. Therefore not only is your threat totally unfounded without any due course or consideration for the actual history of the account, but it also directly contravenes requirements previously set in place by the OFT due to your persistent habit of making such threats.

I am aware that you're likely to disregard the above comment and claim that you do intend on seeing the petition through but I must remind you that failure to acknowledge and respect a disputed account is a severe breach of the parameters of with with you're entitled to utilise a Consumer Credit Licence and any such additional abuse will result in an immediate complaint being made against you with your regulators.

I suggest you return this account back to the original creditor before getting into a dog-fight with me. We both know you purchase delinquent debts for a fraction of their true value from HBOS whom normally sell you problematic cases, i.e. cases like this where they themselves know they are unable to enforce the agreement through the courts so instead they sell the account to you, technically they're now released of their dead-duck so to speak. My point here is that it is in everyone's best interests if you simply return this account to the original creditor.

Consequently, any legal action you pursue will not only be fully and vehemently defended, it will also be averred as both unlawful and vexatious. As such I respectfully suggest that this account is returned to the original creditor for immediate resolution prior to my seeking legal advice against you; due to the fact you cannot lawfully pursue any enforcement activities as the account was already in dispute at the time you became involved.

I hope this explains my position and look forward to your confirmation of recourse back to original creditor, or full disclosure and compliance of my original CCA Request dated xx/xx/xxxx (enter date of original CCA Request here)

Yours faithfully,


Sign Digitally


See Link Here for help on signing digitally.

Remember do not send this template if you have an outstanding CCA Request to either HBOS or 1st Credit. Instead post here and let Niddy guide you...

[Blue Star]

Re: 1st Credit | HBOS Mass Assignments

Now, after sending the above template to 1st Credit you're going to get a typical get-lost response, which is where the second and final template comes into play. This is an advanced version of Niddy's Legal Threat template but with a twist, dedicated to 1st Credit and in particular HBOS accounts purchased en-masse mid July 2012.

So taking a step back from the second template, we need to establish what grounds you're going to have to argue & defend with, if 1st Credit ignore the first template above and proceed with BR threats or actually cross the line and issue a claim.

HBOS tend to retain the 'net-worth' accounts, they sell off the delinquent accounts such as those with no agreements, loans that were sold using a doorstep courier and other lending primarily from pre 2003 which is when HBOS were at their slackest.

We can look into the main points that you will have to argue, below:

1. No CCA / Missing PT's etc
This is most common. HBOS know that in the 'old days' they did not retain copies of agreements, well they did but a lot seem to have just vanished with others being quite sad attempts to recreate one using the Carey judgment, i.e. recon version. Don't be fooled by 1st Credit's threats. If HBOS have failed in their obligation within s.77-s.79 then they (nor their agents or assignees) can enforce the debt - that just aint gonna happen.

2. Is your debt a loan?
If your account relates to a HBOS loan then chances are you had the brilliant doorstep delivery service, you know the one - HBOS brought it out around 2003-2004 and used the catch-line 'Your cheque could be personally delivered to you within 24 hours with the Bank of Scotland courier service'. Well if you had this then great news, as that courier driver was never authorised to sell you the product - but hey they didn't right? Well unfortunately yes they did, or worse, they hassled you to sign it at your front door yet if you had any question he would be unable to answer. This is a big no-no and causes the bank a lot of problems.

The above two reasons are what you'll usually be fighting for - because the above two reasons are relative to most of HBOS' older accounts and if you check hard enough you'll see your agreement, NoA and DN may well be faulty so dig them out and send them to Niddy for a true evaluation.

TEMPLATE TO FOLLOW SHORTLY

[vint1954]

Re: 1st Credit | HBOS Mass Assignments

Very interesting Blue Star.

Most debts that get sold on are those in dispute, that the original creditor cannot enforce.

What sanctions can the OFT bring against 1st Credit if they continue to issue Statutory Demands in disputed cases.

[Blue Star]

Re: 1st Credit | HBOS Mass Assignments

What sanctions can the OFT bring against 1st Credit if they continue to issue Statutory Demands in disputed cases.

I have a contact at Which? who would be more than willing to assist us in going to super-complaint if needed.

[Never-In-Doubt]

Re: 1st Credit | HBOS Mass Assignments

Interesting......

[Spent2much]

Re: 1st Credit | HBOS Mass Assignments

been a victim of 1st credit threats my hubby went to court twice to get SD set aside, the judge was not happy with them at all

[Fred Bassett]

Re: 1st Credit | HBOS Mass Assignments

Interesting. Am currently a "client" of 1st Credit so will be following this thread carefully.

Regards.

Fred

[carol01]

Re: 1st Credit | HBOS Mass Assignments

thankyou blue star
you have put my mind at ease a little i just hope i am part of their idle threats too

[Spent2much]

Re: 1st Credit | HBOS Mass Assignments

thankyou blue star
you have put my mind at ease a little i just hope i am part of their idle threats too

you have the support of this wonderful forum and hopefully it won't get that far, unlike my hubby , but he still won and put them in their place

[5corpio]

Re: 1st Credit | HBOS Mass Assignments

Hi and Welcome Blue Star

Does this also constitute with MBNA previous account holders (as 1st Credit been purchasing up lots of accounts from them as well). One here being a victim of MBNA (1st Credit) alike many others UE Diaries on this forum whose account been MBNA at the time.

[Fred Bassett]

Re: 1st Credit | HBOS Mass Assignments

Just got the post and guess what?


I'm just going down to the post office to send them a CCA request.

Fred

[Never-In-Doubt]

Re: 1st Credit | HBOS Mass Assignments

Seems there is some confusion here....

Step 1 - Send for a CCA ---> Our Templates | Unenforceability Templates | CCA Request

Step 2 - Send the template above in post 2

Step 3 - Send the follow-up template above in post 3 (not ready yet)

Step 4 - speak to Niddy

Doesn't matter if you already have CCA paperwork, get a new request sent in asap so you can get 1st Credit on the backfoot as they cannot enforce with an outstanding CCA Request.

Simples.

[Fred Bassett]

Re: 1st Credit | HBOS Mass Assignments

Seems there is some confusion here....

Step 1 - Send for a CCA ---> Our Templates | Unenforceability Templates | CCA Request

Step 2 - Send the template above in post 2

Step 3 - Send the follow-up template above in post 3 (not ready yet)

Step 4 - speak to Niddy

Doesn't matter if you already have CCA paperwork, get a new request sent in asap so you can get 1st Credit on the backfoot as they cannot enforce with an outstanding CCA Request.

Simples.

Niddy, that's what I've done. Or at least what I've started to do with the CCA request.

Cheers.

Fred

[Never-In-Doubt]

Re: 1st Credit | HBOS Mass Assignments

Niddy, that's what I've done. Or at least what I've started to do with the CCA request.

Awesome