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  • Robesco - Idem Servicing diary

    Hi,

    I have been away from the site for a while as I got into a bit of a depression for a few months and found all the CCA stuff tough to deal with so I stuck my head back in the sand and ignored it all for a while.

    In the meantime I have had some responses to my CCA requests but have continued paying my DMP through Stepchange for all debts even those that have confirmed they are UE. I know this is a bad idea but I couldn't cope with the thought of lighting a torch under the bonfire of stopping paying but I'm ready to pick up where I left off.

    During the downtime I received a reconstituted agreement from Idem Servicing which I wonder if anyone could take a look at to check if it's UE or not.

    Thanks.
    Account owner: Idem Servicing
    Owned since: July 2015
    Original owner: Intelligent Finance CC (Halifax)
    Date commenced: 2005
    Original credit limit 10,050
    Current Arrangement: DMP via StepChange since 2009, previously self managed DMP since early 2008
    Date last full payment paid: 2008
    Date defaulted on credit file: September 2009
    Current balance 6050
    17/04/2019 - CCA request sent with 1 cheque
    13/05/2019 - Letter received, they can't find CCA and debt UE
    19/07/2019 - Received reconstituted agreement with letter to say debt now enforceable again

  • #2
    can you send what you received to, webmaster@all-about-debt.co.uk

    do not redact anything, only niddy will see it,
    put your username in and link to your thread,

    he may be a while as he is busy at the mo
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

    Comment


    • #3
      Originally posted by Robesco View Post
      I have been away from the site for a while as I got into a bit of a depression for a few months and found all the CCA stuff tough to deal with so I stuck my head back in the sand and ignored it all for a while. . . . . . . but I'm ready to pick up where I left off.

      During the downtime I received a reconstituted agreement from Idem Servicing which I wonder if anyone could take a look at to check if it's UE or not.

      I'm sorry to hear you've been feeling so miserable about your debts, but now you're ready to fight back which is a good thing

      Whether the credit agreement is enforceable or not is only part of the equation. Idem may have issues with their lack of FCA authorisation.

      Jo explains this here >


      Originally posted by Joanna Connolly View Post
      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..

      Post again on this thread when Niddy has given you his opinion on the reconstituted credit agreement.

      Di
      Legal Disclaimer

      I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.

      Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

      Comment


      • #4
        Originally posted by Robesco View Post
        ... but have continued paying my DMP through Stepchange for all debts even those that have confirmed they are UE. I know this is a bad idea ...
        Can anyone say if this a bad idea for any reason beyond being more expensive in the long run? I'm in a similar situation, still paying acknowledged UE debts via StepChange until I have funding to make some F&F settlement offers - like you I'm reluctant to 'light the blue touchpaper' until I'm in a position to respond with more than 'go away'.

        Comment


        • #5
          Originally posted by Night Monkey View Post

          Can anyone say if this a bad idea for any reason beyond being more expensive in the long run? I'm in a similar situation, still paying acknowledged UE debts via StepChange until I have funding to make some F&F settlement offers - like you I'm reluctant to 'light the blue touchpaper' until I'm in a position to respond with more than 'go away'.
          Please start your own thread with full details please i.e. diary as no confusion will take place then
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment


          • #6
            Originally posted by Night Monkey View Post

            Can anyone say if this a bad idea for any reason beyond being more expensive in the long run? I'm in a similar situation, still paying acknowledged UE debts via StepChange until I have funding to make some F&F settlement offers - like you I'm reluctant to 'light the blue touchpaper' until I'm in a position to respond with more than 'go away'.
            I thought the same and was wondering if I had done any damage by continuing to pay but I decided not to dwell on it as I can only move forward and can't undo what has been done. I have seen other posts where people continue to pay a few months just to be sure a reconstituted agreement won't pop up like this one has so I don't think it's damaging.

            The whole F&F offer thing is such a catch 22. While paying the DMP, I can't afford to make any F&F offers, officially if I stop paying the UE debts I should increase the payments to the non UE ones and pay them off quicker, which is not a bad thing but still leaves me unable to offer any F&F. I know many would say why offer any F&F to a UE debt at all, it's throwing money away, but I do like the idea of drawing a line under them and knowing they can never come back to haunt me in a few years time.

            Comment


            • #7
              at the end of the day the choice is yours, no one can make you do anything,
              If you are happy to continue paying that is fine,

              while they are UE you know that they cannot enforce through the courts, although some MAY try.
              If you do a self managed repayment Debt managed plan, you can if you wanted to, stop paying the UE ones and still make minimum payments to the others, save up the money from the UE one's to make F&F to the enforceable one's,
              IF the UE one's suddenly find a Compliant CCA, you could then start a repayment plan with them if need be.

              just a suggestion.

              NW
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment


              • #8
                Hi Robesco, here's my take for what it's worth.

                Any contact ever made to you after SB can best be thought of as an error on the part of the creditor and should be quite easy to handle. If you've stayed in touch with this excellent forum and got through the six years to SB (five in Scotland) then I expect you'd be feeling too liberated about it all to have to put up with any feeling of being haunted.

                Everything is ultimately a personal decision but there's a lot to be said for jumping in and going the whole hog, especially if you've learnt from other people who have contributed to this forum and if you feel you can do it. That means building up a fund from the savings made over a period of time so that you can feel confident about handling an F&F should it ever become necessary.

                As NW suggests, you can also carry out your own personal strategy and are free to change it as and when. Good luck.
                Last edited by MisterK; 14th October 2019, 17:10. Reason: typo

                Comment


                • #9
                  Originally posted by Night Monkey View Post

                  Can anyone say if this a bad idea for any reason beyond being more expensive in the long run? I'm in a similar situation, still paying acknowledged UE debts via StepChange until I have funding to make some F&F settlement offers - like you I'm reluctant to 'light the blue touchpaper' until I'm in a position to respond with more than 'go away'.
                  Hello Night Monkey

                  I'll reply to your question on your Diary here > https://all-about-debt.co.uk/forum/debt-bailiffs-starting-again/unenforceable-credit-agreements/unenforceability-diaries/1528918-night-monkey-s-diary

                  You don't need to start a new thread


                  Di
                  Legal Disclaimer

                  I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.

                  Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                  Comment


                  • #10
                    Originally posted by The Tech Clerk View Post

                    Please start your own thread with full details please i.e. diary as no confusion will take place then

                    Night Monkey's existing Diary thread is here > https://all-about-debt.co.uk/forum/d...-s-diary/page2

                    Di
                    Legal Disclaimer

                    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.

                    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                    Comment

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