Smoogys UE Diary

[Never-In-Doubt]

Re: Smoogys UE Diary

Just a quick question.....do you think Cap One would have sold this £9k+ debt if it WAS EN?

They (and all lenders) sell ALL debts regardless of dispute. It's a tax write-off or business loss isn't it so they don't actually lose anything.

Scenario. A £10k debt gets written off as a business loss. The bank are quits. No loss. They then sell it to a dca to track n trace the debtor and maybe to collect for them. Then the debtor stupidly agrees to a payment plan. The bank are making a profit at each payment received.

Make sense?

[SA Gold]

Re: Smoogys UE Diary

They (and all lenders) sell ALL debts regardless of dispute. It's a tax write-off or business loss isn't it so they don't actually lose anything.

Scenario. A £10k debt gets written off as a business loss. The bank are quits. No loss. They then sell it to a dca to track n trace the debtor and maybe to collect for them. Then the debtor stupidly agrees to a payment plan. The bank are making a profit at each payment received.

Make sense?

Perfect sense, when laid out like that mate! Some punters don't do too bad from this farce mind. Borrow 10, pay -3?

[smoogy]

Re: Smoogys UE Diary

They (and all lenders) sell ALL debts regardless of dispute. It's a tax write-off or business loss isn't it so they don't actually lose anything.

Scenario. A £10k debt gets written off as a business loss. The bank are quits. No loss. They then sell it to a dca to track n trace the debtor and maybe to collect for them. Then the debtor stupidly agrees to a payment plan. The bank are making a profit at each payment received.

Make sense?

Absolutely! Thanks

[Never-In-Doubt]

Re: Smoogys UE Diary

Yea it's good. Trust me!! The recon contains the PT's that is directly linked to the signed application.

Ignore for now and when you next hear from them, send the letter as outlined by SH.

Actually, I have just re-read this and changed my mind. I think it might be unenforceable after all.



I am reading the very confusing terms (none are relevant to your account at inception but the recon versions would usually suffice) however I am confused as throughout the second set of terms (the ones called v#15) it relates to charges due under section(s) 12, 13 & 14 but those sections relate to foreign currency and other charges (default charges are section 15) on one set but on the other those sections relate to PPI, allocation of payments and additional cardholders and the third set contain no mention of these sections - so which are yours then? One must be, or maybe not!

Confused? Yep - me too. The fact the application is all blacked out doesn't help but hey, that's your prerogative. I would send off the Missing PT's template and see what that generates by way of response because those three sets of terms they've sent don't tally and make the whole thing more confusing, ideally we need clarity as to which they are planning to reply on should they pursue matters so we can study those in detail. Lets see what sending this does --> CCA Query - Missing Prescribed Terms - allaboutDEBT UK

Good Luck

[smoogy]

Re: Smoogys UE Diary

Actually, I have just re-read this and changed my mind. I think it might be unenforceable after all.



I am reading the very confusing terms (none are relevant to your account at inception but the recon versions would usually suffice) however I am confused as throughout the second set of terms (the ones called v#15) it relates to charges due under section(s) 12, 13 & 14 but those sections relate to foreign currency and other charges (default charges are section 15) on one set but on the other those sections relate to PPI, allocation of payments and additional cardholders and the third set contain no mention of these sections - so which are yours then? One must be, or maybe not!

Confused? Yep - me too. The fact the application is all blacked out doesn't help but hey, that's your prerogative. I would send off the Missing PT's template and see what that generates by way of response because those three sets of terms they've sent don't tally and make the whole thing more confusing, ideally we need clarity as to which they are planning to reply on should they pursue matters so we can study those in detail. Lets see what sending this does --> CCA Query - Missing Prescribed Terms - allaboutDEBT UK

Good Luck

Hi

Fantastic news!!!

I can send you the application not blacked out as it is only 2 pages its not a problem if it will help you??
I will send the letter you have suggested on Monday recorded delivery and see what happens.
Let me know if I should email the pages!
Thanks again for having another look at this!!

[Never-In-Doubt]

Re: Smoogys UE Diary

It'll be fine, no need for now. Send it Tuesday (monday is a BH) - you'll be sound

[smoogy]

Re: Smoogys UE Diary

Just a quick update...

I got a letter this morning from Crapquest saying that they have received my recorded delivery letter on the 7th May and it is currently receiving attention!
This is a new one I have never received a letter acknowledging receipt before!!
Will update again as soon as I get something from them.

Thanks

[smoogy]

Re: Smoogys UE Diary

Hi

Still nothing from CrapQuest.....how long should I wait??? Is there a follow up letter I should be sending because they have not responded fully yet - or just sit tight for now?

Thanks

[ScabHunter]

Re: Smoogys UE Diary

No, no. Just wait until they write to you. That is what most of this UE strategy is all about, waiting. What you are trying to achieve in the end is a six year period with no payment or written acknowledgement of the alleged debt.

Oh, wait a minute, you're a sweaty sock. That means it is only five years.

SH

[smoogy]

Re: Smoogys UE Diary

No, no. Just wait until they write to you. That is what most of this UE strategy is all about, waiting. What you are trying to achieve in the end is a six year period with no payment or written acknowledgement of the alleged debt.

Oh, wait a minute, you're a sweaty sock. That means it is only five years.

SH

Ok thanks for the reply will just wait!
Will update again if and when I hear from them.

[MrsD]

Re: Smoogys UE Diary

sweaty sock???

cheeky limey

you'll be fine, the cheeky limey is in fact correct.

[Never-In-Doubt]

Re: Smoogys UE Diary

Oh, wait a minute, you're a sweaty sock.

you wanna slap

[smoogy]

Re: Smoogys UE Diary

Hi Niddy

Got a response today have emailed you with a scanned copy!!
Just to let you know they sent me a statement of account this time but nothing else - no more terms and conditions or anything just a statement.


Cheers

[smoogy]

Re: Smoogys UE Diary

Hi Guys

Just an update - got a lengthy letter back from Crapquest today basically saying that because they have supplied a copy of a signed credit agreement encompassed within the application form then I am legally bound by the terms and conditions that have been supplied. They also say that I believe the agreement supplied is non compliant with the CCA 1974, however they say I would have received a copy of agreement when my card was issued and they believe I would have had every opportunity to raise any issues or concerns I may have had in relation to the agreement then.
They have sent copies of statements of the account and they say that they show me maintaining the account - they are satisfied that the documentation provided to me is accurate and legally enforceable and that I have acknowledged the outstanding balance by making offers of repayment to them.
They say they are happy to discuss the possibility of a lower settlement but want financial statements etc before doing so and once they have this they will agree a payment plan.
They then say that no mistake has been made by them and the account has been passed back to collections and I should call them.
They have also said that the Financial Ombudsman cannot handle my complaint as it is regarding enforceability and if I wish to complain I should refer it to the Credit Services Association.

So that is it. Niddy has read through the full reply and has advised to just ignore it and see what they do next. I just wanted to update you all with the latest and look forward to hearing all your comments and advice!!

Thanks!

[smoogy]

Re: Smoogys UE Diary

you wanna slap

Hi Niddy

I got a letter from CrapQuest today can I send you a copy to have a look at please and advise??

Thanks!
Smoogy