Kenny91's Debt Diary

[Kenny91]

Hi all,

I’ve been lurking for a few months and finally taken the plunge to share my story, the short version of which involves a lot of ill health in close family and bad advice many years ago to enter a DMP when I should have opted for bankruptcy - although that would potentially have hampered my career progression.

I’ve not yet requested CCAs for two overdrafts of around £2,000 each, but intend to do so shortly for the Barclays one listed below, but unsure about the same course of action for the other for reasons I don’t wish to disclose publicly at this stage, as I feel it could work against me big time.

I'm not really in this for the long term, given am hoping to secure a mortgage in the next couple of years so simply looking to strengthen my hand and settle the larger debts with decent discounts in the short to medium term, obviously none of the defaults are present on my credit file as they dropped off several years ago so one less thing to worry about.

Anyhow, fingers crossed I get the formatting right first time:

DEBT NO 1:

Type: Virgin/MBNA Credit Card

Date Commenced: Nov 2007

Current Balance: £5,900

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Arrow Global Guernsey Limited (Managed by Moorcroft)

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - CCA request acknowledged

H2 April 2021 - Reconstituted CCA received, looks enforceable as all details appear to be in order (although my address is slightly different to that shown on statements and correspondence from 2007-2010). Very deflated, as was optimistic paperwork would not be sourced.

6 June 2021 - CCA sent to Niddy for checking.

9 June 2021 - Niddy deems the CCA enforceable, unfortunately; but suggests there could be other issues associated with that debt, not to mention the fact that Arrow Global Guernsey don't have the necessary jurisdiction to take legal action - but that doesn't mean they won't try.

May 2023 - Letter received out of the blue by Capquest Debt Recovery saying they have been appointed by Intrum Poplar Designated Activity Company as an administrator of the agreement.

[Kenny91]

DEBT NO 2:

Type: Nationwide Credit Card

Date Commenced: October 2005

Current Balance: £7,500

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Nationwide it seems (Managed by Moorcroft)

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - Letter received from Moorcroft saying Nationwide does not have access to the credit agreement, although it has been requested and they will update in due course.

[Kenny91]

DEBT NO 3:

Type: Natwest Credit Card

Date Commenced: October 2005

Current Balance: £3,000

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Cabot Financial (Europe) Limited

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - Letter received from Cabot saying original lender has been contacted for the relevant information, and they recognise the debt is unenforceable until it turns up.

June 2021 - Identical letter with new date received from Cabot saying original lender has been contacted for the relevant information, and they recognise the debt is unenforceable until it turns up.

[Kenny91]

DEBT NO 4:

Type: M&S Credit Card

Date Commenced: November 2007

Current Balance: £2,000

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Lowell from April 2023 (M&S was previous owner)

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - Letter received with copies of the original credit agreement that matches the original paperwork in my possession, so appears enforceable.

6 June 2021 - CCA sent to Niddy for checking.

9 June 2021 - Niddy deems M&S CCA unenforceable for now, but issue could be resolved.

April 2023 - Debt has been sold to Lowell.

[Kenny91]

DEBT NO 5:

Type: Barclays Bank Overdraft

Date Commenced: Sometime in the late 90s

Current Balance: £2,000

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Barclays Bank

8 June 2021 - Will decide next course of action once I receive their reaction to the cessation of monthly payments. Di believes it's too early right now to send CCA request.

[Kenny91]

DEBT NO 6:

Type: Capital One Credit Card

Date Commenced: August 2009

Current Balance: £1,000

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Lowell

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - Letter received with copies of the original credit agreement that features my autograph, so appears enforceable - although my address has the word “Flat” prior to the number. In addition, the credit agreement they sent says “Please turn over” at the bottom of Section 1 of the Terms and Conditions, but no other pages or sections of said agreement were sent, just statements of all the transactions since account was opened.
Please now ignore the PTO comment as it was on a random piece of paper they sent in the same pile of papers.

6 June 2021 - CCA sent to Niddy for checking.

8 June 2021 - Niddy says it appears EN at first glance, which is a shame, but not too low a blow given I've received several F&F settlement offers from Lowell with a 40% discount. Will continue to halt payments in the meantime and see if that leads to anything....

29 July 2022 - Lowell has passed debt to Overdales Solicitors (their in-house legals I think) and listed about £300 of legal fees/costs should a CCJ be applied for.

1 September 2022 - Letter of Claim received.

October 2022 - all the requested documents bar the default notice received. Account on hold for now.

November 2022 - Overdales say they have "unfortunately" been unable to procure the Default Notice from Capital One and the account is now being passed back to their client Lowell. "Amount Due" box on that letter shows £0.00 rather than the near £1,000 originally shown.

[The Tech Clerk]

send unredacted copy CCAs to webmaster@all-about-debt.co.uk refer to this thread for checking enforceable or not for starters!

[Kenny91]

DEBT NO 7:

Type: Lloyds TSB Credit Card

Date Commenced: September 2008

Current Balance: £500

Default Date: July 2010

Last Paid: March 2021

Status: Small monthly payments via DMP since late 2010

Owner: Lowell

February 2021 - CCA request sent recorded delivery with £1 postal order

March 2021 - Letter received with copies of the original credit agreement that features my autograph, so appears enforceable, although I note the credit agreement seems relatively short compared to those of other credit providers, but does seem to cover all aspects.

6 June 2021 - CCA sent to Niddy for checking.

8 June 2021 - Niddy says UE, albeit due to an issue that could be rectified relatively easily. Given this is my smallest debt will put a final decision over my next stage of action on the back burner for now, but will continue to halt payments in the meantime.

1 July 2021 - Letter received asking if all okay as no payments received through DMP for several months. Letter filed, no further action being taken.

18 July 2022 - Hoist have bought the debt and in a "Welcome Pack" including assignment letter encourage me to log into my new online account. If I'm lucky, they might even offer me their "You Pay, We Pay" promotion.

May 2023 - Debt now passed to Lowell following their acquisition of Hoist.

[Kenny91]

send unredacted copy CCAs to webmaster@all-about-debt.co.uk refer to this thread for checking enforceable or not for starters!

Many thanks for the prompt reply The Tech Clerk. I'll dig out all the paperwork next couple of days and whirl up the old scanner this weekend and do as you suggest.

[Kenny91]

I've a couple of quick questions relating to the Virgin/MBNA debt, and one large credit card debt completely settled in late 2019 with a F&F discount of 60%.

1. I'm sure I read somewhere that certain parts of Default Notices must feature bold type, is this correct because one such Default Notice from MBNA in 2010 did not have the amount demanded and the deadline for the payment in bold? Does that mean it's none compliant?

2. Also, when a credit provider sells a debt, who is then the rightful recipient of any refund related to that debt from many years ago, but only just discovered and processed?

Out of the blue 18 months ago I got a letter saying Barclaycard made several mistakes with some statutory notices in 2010 and they transferred almost £800 to the debt's owner, not to moi.

However, my argument is I didn't see the "full benefit" of that (much needed!) refund as the debt's owner was already offering me 50-60% discounts, so I effectively lost out to the tune of £300-400.

My understanding is when a debt is sold, it's sold; so Barclaycard had no right to refund the new owner of the debt, it should have come to me, right? Do I need to SAR Barclaycard to find out the conditions of sale of the debt?

Barclaycard couldn't/wouldn't even tell me how they actually calculated the refund sum (looking at statements from 2010 I believe it was also on the low side) so want it investigated further, but would like to know if any precedents exist for such cases.

[Timewilltell]

As I understand and I may be wrong but I’m my own experience any money refunds have been issued to debt owners if not the original creditor.

however on a brighter note, Arrow Global Guernsey at not registered with the FCA so will have no legal right to bring court action. Similarly Idem Servicing, if the one from many years ago, are not registered therefore have no legal right to bring court action.PlanB will be able to confirm with appropriate links to credible examples.

Thoughts: if you are planning to go for a mortgage soon then you will have to bear in mind that your Statute Barred (SB) clock will only start once payments and acknowledgement of debt(s) are ceased.
getting a mortgage may be of interest to the Debt owners as they may try harder to seek legal action to get a charge on your property, however it is only a possibility and not written in stone as a guarantee to happen. There would be a long process before they would even get it too a court claim and then they’d have to have a successful case, which many do not and often fail once challenged. So please do not think for a moment that all odds are stacked against you.

as Advised get the copies of the CA’s over to Niddy for opinion, but also remember, there are many other hurdles that the debt owners need to comply with to be successful.

[Warwick65]

I don’t think DNs have to have parts in bold but I know some do. They do have to have certain info which is laid out in law.

As to where any refunds go, I suspect that is all within the details of assignment which is difficult to get to see.

[Roger]

DN's have to be correct in accordance with the CCA terms and can be challenged if incorrectly calculated.
A later refund looks like an admission that the DN figures were in fact incorrect.

[PlanB]

finally taken the plunge to share my story, the short version of which involves a lot of ill health in close family and bad advice many years ago to enter a DMP when I should have opted for bankruptcy - although that would potentially have hampered my career progression.

I’ve not yet requested CCAs for two overdrafts of around £2,000 each, but intend to do so shortly for the Barclays one listed below, but unsure about the same course of action for the other for reasons I don’t wish to disclose publicly at this stage, as I feel it could work against me big time.

I'm not really in this for the long term, given am hoping to secure a mortgage in the next couple of years so simply looking to strengthen my hand and settle the larger debts with decent discounts

Hello and thank you for sharing your story

You have a plan which may change but it seems that at the moment you have reasons not to take a risk with any of these.

It's also wise not to disclose too much publicly on the internet, just post enough for forum members to make suggestions on how you could manage the situation based on their own experiences.

It'll be about tactics and timing, similar to playing poker, or Wimbledon Final, or that iconic final shootout scene in the High Noon movie!

I'll take a look at each one of your debts and then add my comments because no two will be alike.

Di

[Kenny91]

Thanks to all the forumites for their advice and feedback. I sent 4 x CCAs to Niddy a few minutes ago that relate to the LloydsTSB, Capital One, M&S and Virgin MBNA debts so will update each individual debt above in due course.

A quick question on the imminent CCA request to Barclays about my overdraft, can I just send the standard CCA template or is there a specific one for bank accounts?