£51k DAS / DMP debt diary inc 1 pre-2007 account

[IndyScot2020]

Hi everyone,

First of all thanks for everyone's contributions here to this mega informative debt forum, especially all the advice from members on CCAs and unenforceable debts. Like others, wish I had discovered this sooner, MUCH sooner, but hey ho better late than never.

My story is that by 2015 I had accumulated £50k in unsecured debt - mostly through credit card debt and a personal loan. So took the decision to enter a Debt Arrangement Scheme (a Scottish DMP), which would mean paying back over the debt over a 12 year timescale rat a rate of around £350 a month. Around 8% in admin fees with creditors agreeing to accept 92%.

Fast forward to mid 2018, with debt around £36k, discover this forum and learn about CCAs/ UE debt.

Sent off CCA requests in mid September 2018. With two exceptions all respond with CCAs by late October 2018.

Will consider UE route and F&F settlement depending on views of members here.

Starting with oldest debt first (and perhaps most likely UE as its pre-April 2007??)

Account type: Arrow Group, managed by Capquest (previously owned by MBNA)
Opened: Sep 2006
Balance: £10,784
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: May 2015

Capquest acknowledge CCA request and say account will be on hold will they locate CCA from MBNA and will provide update by late October. Still waiting.

Breakdown of other debts to follow & CCA responses to follow ...

updates:

10 Nov 18: received letter today from Capquest saying CCA request stating: "We're still looking into your query and waiting for MBNA's response. We're sorry for the delay and thank you for your patience. We'll keep you update and let you know when we've had a response."

13 Dec 18: received letter from Capquest saying "Please be advised we have passed your request for the copy of the agreement to the relevant department and will be contact in due course. This account will not be subject to collection activity pending provision of the requested documentation."

Feb 2019 - They can't find CCA for 2007 former account and provide UE CCA due to lost 'default notice' for the 2007.

March 2019 - write to confirm they accept 12% settlement which I've accepted and paid.
April 2019 - account fully closed and updated on credit file

[The Tech Clerk]

send any CCAs to un-redacted to:- webmaster@all-about-debt.co.uk linking your thread, he will say if enforceable or unenforceable!

[IndyScot2020]

Account type: Arrow Global Group, managed by Capquest (previously owned by MBNA)
Opened: Sep 2007
Balance: £5,157
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: May 2015

Capquest acknowledge CCA request and say account will be on hold will they locate CCA from MBNA and will provide update by late October. Still waiting.

Also raised dispute with figure as it doesn't match with figures shown my DAS / DMP account...have raised a dispute using 'without prejudice' heading template.

updates:

10 Nov 18: received letter today from Capquest saying CCA request stating: "We're still looking into your query and waiting for MBNA's response. We're sorry for the delay and thank you for your patience. We'll keep you update and let you know when we've had a response."

13 Dec 18: received letter from Capquest saying "Please be advised we have passed your request for the copy of the agreement to the relevant department and will be contact in due course. This account will not be subject to collection activity pending provision of the requested documentation."

Feb 2019 - They can't find CCA for 2007 former account and provide UE CCA due to lost 'default notice' for the 2007.

March 2019 - write to confirm they accept 12% settlement which I've accepted and paid.
April 2019 - account fully closed and updated on credit file

[The Tech Clerk]

see 2 above for any others and make diary for each one

[IndyScot2020]

Account type: Bank of Scotland (was briefly managed by Wescot Credit)
Opened: Sep 2011
Balance: £3,578
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: Jan 2017 (now it has been removed and is 'up to date'!)

Received reconstituted CCA and with I think standard and varied terms and conditions...no signatures as far as I can see...probably is enforcable but will soon email to the AAD webmaster to check

updates:

16 Nov 2018 - BoS reject offer of [50% F & F offer] after careful consideration.

update 24 Nov 2018: Niddy confirms his opinion the CCA is likely to be ...

Feb 2019: reject 60% F and F
Apr 2019: reject 70% F and F

[IndyScot2020]

send any CCAs to un-redacted to:- webmaster@all-about-debt.co.uk linking your thread, he will say if enforceable or unenforceable!

will do, thanks!

[IndyScot2020]

Account type: Nationwide
Opened: Oct 2013
Balance: £3,206
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: Apr 2015

CCA received Oct 2018. very short at just 4 pages and a page with a signature. probably enforceable, but will of course check send un-redacted to AAD experts

updates:

16 Nov 2018 - Nationwide 'regret that we are unable to accept your proposal [for 50% F & F offer]...and would prefer to await outcome of the review [at end of DAS payment holiday] before we consider your proposals further'

update 24 Nov 2018: Niddy confirms his opinion the CCA is likely to be ...

March 2019: accept 60% F&F settlement

[IndyScot2020]

Account type: Hitachi Capital (loan)
Opened: Oct 2014
Balance: £5,571
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: Jul 2015

CCA received - just 2 pages long contains e signature...will email the CCA to AAD experts soon

update:

24 Nov 2018: Niddy confirms his opinion the CCA is likely to be ...

March 2019: just noticed this account is market as satisfied and closed on my credit report

Apr 2019: offered 50% to settle account

[IndyScot2020]

Account type: Barclaycard
Opened: Jan 2012
Balance: £9,200
Repayment plan started: June 2015
Last payment: Sep 2018
Default date: N/A

lengthy CCA received. no signatures and two 'Restricted - Internal' pages with one in large font "YOUR RIGHT TO CANCEL: Once you have signed this agreement, you will have a short time in which you cancel it. We will sen you exact details of how and when you can do this". copy of CCA will be emailed to AAD experts shortly for an opinion

update:
24 Nov 2018: Niddy notes there is no signature and includes just generic terms, therefore his opinion is ...

10 Dec 2018: Barclaycard issue an Arrears Notice for falling behind with payments. "Please call us on the number shown above to discuss your account further."

Feb 2019: agree by phone 70% F &F, but fail to put in writing
Mar 2019: say they are only considering and that any payment has to be made not direct but through payment distributer

[Joanna Connolly Solicitors]

My story is that by 2015 I had accumulated £50k in unsecured debt - mostly through credit card debt and a personal loan. So took the decision to enter a Debt Arrangement Scheme (a Scottish DMP) .

A quick but important and relevant question from me

Are you based in Scotland?

I ask because Scotland is in a different legal jurisdiction from England and Wales even though the Consumer Credit Act is applicable.

Also Statute Barred in Scotland is 5 years not 6 years.

Di

[IndyScot2020]

A quick but important and relevant question from me

Are you based in Scotland?

I ask because Scotland is in a different legal jurisdiction from England and Wales even though the Consumer Credit Act is applicable.

Also Statute Barred in Scotland is 5 years not 6 years.

Di

Thanks for the info re Statute Barred Will consider this further when reviewing my credit report and any potential future F&F offers / UE debts.

Yes, based in Scotland and likely to be for at least another year or so, Di. Unsurprisingly, my money adviser (local authority) didn't say anything about checking CCAs before entering applying for DAS.

In light of the info on this forum and depending on CCA outcomes, likely to apply to revoke the DAS and self manage any remaining enforceable debts early next year, providing interest / fees, etc are not added.

[Never-In-Doubt]

Hi

you say the creditors agreed to 92% via DAS. By stopping payments and making an offer direct you’d probably get deals around 20-30%. So you might be best actually considering saving the £350 every month and await the dca offers. You’ll get offers to settle at 50% pretty quickly. Ignore those then you’ll get the typical “make us an offer, we want to help” letter. Then go for jugular with a low 10% starting offer.

Of the 4 agreements, they all look enforceable to me I’m afraid. So you’ll be blagging these hoping for a good F&F settlement. The fact the 4 agreements are all new in the last few years doesn’t help that much either.

So if I was in your position I’d be looking to cease payments & save to make low offers to settle.

[Joanna Connolly Solicitors]

based in Scotland and likely to be for at least another year or so, Di. Unsurprisingly, my money adviser (local authority) didn't say anything about checking CCAs before entering applying for DAS.

In light of the info on this forum and depending on CCA outcomes, likely to apply to revoke the DAS and self manage any remaining enforceable debts early next year, providing interest / fees, etc are not added.

As you are aware all interest and charges are frozen while you're in DAS but as I understand it these can be added retrospectively if it's revoked or not completed.

You're also protected from legal action in DAS but not protected on a self-managed DMP > https://www.aib.gov.uk/debt-arrangem...-das/about-das

Four out of six of your debts (Arrow x 2 not complied yet?) are believed to be enforceable so they could start legal proceedings in Scotland. You say you'll be there for another year so are you planning to move elsewhere? Do you own property or have a job/career which would be affected by a CCJ or Scottish equivalent?

An enforceable credit agreement isn't the only thing which can make court proceedings against you successful . There could be assignment issues or the debt owners' failure to comply with all their statutory obligations such as a Default Notice, Notice of Assignment.

It's often easier to negotiate a low F & F when the debt has been assigned (sold) to a debt purchaser since they will have paid only a small percentage of the outstanding balance when they bought it. From what I can see the four 'enforceable' debts are still with the original creditors but maybe that will change.

Di

[IndyScot2020]

ah slightly disappointing to learn the 4 agreements appear to be all especially after all my hard work scanning them in ... but seriously thanks for checking and providing your opinion ... much better position now, knowing where I stand now ... will help with F & F offers in next month or two using the AAD templates. thanks Never-In-Doubt

next steps: will review template letters, letter, more research and consider DCA / self management move...but have to be careful as I need to avoid a CCJ as unlikely as it may seem...especially as I'm working and have equity in my mortgaged home. suspect this means the four non DCAs are unlikely to go as low as 30% - maybe 50 or 60% more realistic... but will consider carefully over next days, weeks... maybe 1 - missed payments (or holiday payment) may help my case...lets see...

money adviser thinks its highly unlikely they will add charges if revoke and self manage, based on other DAS cases seen ... but yes there is still a small risk as Di points out. money adviser reckons its best to offer F & F outwith DAS as you have to offer same percent offer to all creditors which clearly isn't advisable in the case where one agreement may be UE.

Still waiting on copy of the CCA agreements from Arrow/Capquest. meantime will save money via DAS holiday payment and while they try to find agreements. Fingers crossed the pre-2006 is will email it as soon or if it ever arrives!

[IndyScot2020]

update

10 /11/18: received 2 letters today from Capquest on two outstanding CCA requests both stating: "We're still looking into your query and waiting for MBNA's response. We're sorry for the delay and thank you for your patience. We'll keep you update and let you know when we've had a response."

Have stopped all DAS payments to all creditors as I've taken an approved 6 month payment holiday.

Offered 50% F & F to BoS and Nationwide.

Haven't approached Hitachi with a F & F as this account, strangely shows as closed and 'satisfied' on my credit report.

Tempted to offer 10% F & F to Capquest but probably more sensible to just keep waiting while needed £350 a month as we lead up to Christmas.

Would like to be in a position to end the DAS and settle all accounts by March 2019. this may be possible due to support from a family member.