Robesco - Idem Servicing diary

[Robesco]

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

That's the plan.

[Joanna Connolly Solicitors]

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

[Joanna Connolly Solicitors]

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

[MisterK]

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.

[nightwatch]

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

[Robesco]

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.

[The Tech Clerk]

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

[Night Monkey]

... 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'.

[Joanna Connolly Solicitors]

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 >

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

[nightwatch]

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

[Robesco]

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: 20/10/2005
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
16/10/2019 - Niddy confirmed reconstituted agreement is UE

19/12/2019 - Cancelled my DMP with Stepchange and stopped paying all creditors.
Various requests for payment throughout 2020, all ignored.
24/09/2020 - Received letter of claim
29/03/2021 - Letter threatening litigation