PowerOfCats UE Diary

[MisterK]

Original creditors (if you have any) don't usually want to talk about f&f settlements, so you would be best waiting for those ones to be sold on (assigned) before you do that. They will usually engage a DCA before they eventually assign it so you'd need to know which are still owned by the original creditor as the DCA writing to you may not be the owner. Then to get the best f&f you need time for them to go through the offers of 25% off, 50% off, 75% off etc before you respond. But if it's UE then you probably wouldn't want to do that at all, offers tend to be for those that really are enforceable. Also don't assume it's enforceable based on the CCA alone, because it still may not be. Once you start payments you will reset the SB clock. It would usually take at least a couple of years or so to get to the point of making offers.

You might have a problem with mortgage applications as things stand but perhaps you have one already that you can take with you when you move. You're in the strongest position if you've got time on your side. This is just my own opinion of course, also apologies if you've been told or know this already, just trying to help.

[PowerofCats]

Diana Mayhew , what are your thoughts with Link and my MBNA debts? I've had very little contact with them up to now as it's taken nearly 9mths for them to respond to the CCA request. Now they are classed as enforceable, should I do a monthly repayment or wait it out?

I ask as my situation is looking to change soon - I'm selling my house and moving but will only have around £5-6k for debt repayment and hoped to get some F&Fs. I can't see that my creditors (BOS, MBNA/Link x 2, Shop Direct) with a total amount owed of around £16k will accept £5-6k between them...

Should I continue to ride out the no-contact? I'm less than a year in

[PowerofCats]

debts 1 and 2 - Niddy confirms they are enforceable. Boo. These are my highest value debts so this was a bit of a blow

[PowerofCats]

Update for debt 1 and 2 - MBNA accounts currently with Link. CCA response with documentation received. Emailed to Niddy for his thoughts on enforceability.

[The Tech Clerk]

have to move at the right time - as stated above see what offered next!

[nightwatch]

I would wait and see what's offered next..

[PowerofCats]

They haven't given an amount for the BoS (only one to give a discount) and whilst it's potentially enforceable, I'm almost a year in to no contact so don't want to contact right now to see...

Quite happy to take advice. I'm potentially coming into cash to clear the enforceable stuff in 4-5mths so I was intending to call and see when that arrives.

[Warwick65]

So what are your thoughts, are the discounts large?

[PowerofCats]

Update debt 5 . and 13

5: BOS - offering reduced sum settlement to clear off the debt
113 - Idem - asking for payment to be made

[nightwatch]

I had a debt passed to them. I sent a CCA request,got a letter back telling me I needed to send the £1 fee, told them it was enclosed with the request and they had cashed it, so they had better have a whip round to replace it or get the auditors in as there was a problem in the finance department.

never heard from them again.
They are only debt collectors not buyer's

[PowerofCats]

debt no5 - Bank of Scotland
Letter received from 'CSL' (Credit Security Limited) asking for repayment etc
This is the first letter I've received from them as last I knew the debt was with Moorcroft
Diana Mayhew , have you come across these guys before?

[Joanna Connolly Solicitors]

Debt 14 - IDEM servicing - 'we do not have a payment plan in place to repay your account...options available to me 1) weekly or monthly instalments 2) lump sum... options available to us 1. default threats (already been defaulted and now gone from my CRA), account may be transferred to a DCA and they may visit at home'.

Jo has started a new thread today specifically about Idem which you may like to read

On 24 April 2019 we were successful in a consumer credit Appeal on the issue of FCA Authorisation - or rather, lack of FCA Authorisation. Idem Capital Securities Limited admitted in court they were not authorised by the Financial Conduct Authority to exercise the rights of a lender but said they were exempt as they had a valid servicing agreement in place with an affiliated 3rd party who was authorised by the Financial Conduct Authority.

It was accepted by both parties that there was a valid servicing agreement in place. The issue for the Circuit Judge to decide whether Idem Capital Securities Limited could rely on the exemption under paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 to issue proceedings in the county court.

The Circuit Judge held as a general principle of law that Idem Capital Securities Limited was not able to rely on the FCA authorisation of an affiliated 3rd party ( paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001) for the purpose of bringing a claim. The agreement was unenforceable, and the order of the court below was set aside, and the Claim dismissed.

Idem Capital Securities Limited did not appeal the judgment.

If you are currently defending a claim with Idem Capital Securities Limited, whether stayed or ongoing or Idem have obtained a Default Judgment against you and you have any query please post any queries on this thread..

If anyone else has issues with Idem please also post on that thread especially anyone who may have received a CCJ or Default Judment from IDEM in the past or anyone who is facing a claim from Idem at the moment >


Link to thread > https://all-about-debt.co.uk/forum/d...rities-limited

Di

[Joanna Connolly]

We recently obtained a Judgment from a Circuit Judge that because Idem were not authorised by the Financial Conduct Authority they could not issue proceedings in the County Court. The agreement was unenforceable.

Idem servicing is the servicer for Idem Capital Securities Limited

[PowerofCats]

Debt 14 - Oh, they've also continued to increase the balance by adding the interest. Now another £40 odd higher than it was a few months ago. Still no CCA documents received though.

[PowerofCats]

Debt 14 - IDEM servicing - 'we do not have a payment plan in place to repay your account...options available to me 1) weekly or monthly instalments 2) lump sum... options available to us 1. default threats (already been defaulted and now gone from my CRA), account may be transferred to a DCA and they may visit at home'

seeing as I'm STILL waiting on my CCA request and they themselves have stated it's unenforceable until it's provided - I'm filing this with no action.