Grassy_K's Unenforceability Diary

[SaltnVinegar]

Re: Grassy_K's Unenforceability Diary

Hi Grassy

Did you get that letter sent off?

[The Tech Clerk]

Re: Grassy_K's Unenforceability Diary

Send letter to-day if poss

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Hi Grassy

Please send this letter as a matter of urgency, preferably today. Although that letter is not headed as a Letter Before Action (LBA), it needs to be treated as such due to the wording. Although they have said could and they have missed out key terms as prescribed by pre-action protocol, they may still fancy chancing their arm at getting a default judgement.

You want to present enough doubt on QQ's standard operating practices, that they will not want to take that risk.

Once you have sent that letter, you then need to follow that up with the LBA template, but you should give them a couple of days to receive the first, hence the need for getting that initial complaint off as a matter of urgency.

Best
SnV

Will get it sent tomorrow then. Thanks again.

[SaltnVinegar]

Re: Grassy_K's Unenforceability Diary

Thanks very much for your help SnV, I shall check my records and amend the letter accordingly, then send it.

I noted that their missive was "could" and "if", not "will" , but still, better safe than sorry.

Hi Grassy

Please send this letter as a matter of urgency, preferably today. Although that letter is not headed as a Letter Before Action (LBA), it needs to be treated as such due to the wording. Although they have said could and they have missed out key terms as prescribed by pre-action protocol, they may still fancy chancing their arm at getting a default judgement.

You want to present enough doubt on QQ's standard operating practices, that they will not want to take that risk.

Once you have sent that letter, you then need to follow that up with the LBA template, but you should give them a couple of days to receive the first, hence the need for getting that initial complaint off as a matter of urgency.

Best
SnV

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Thanks very much for your help SnV, I shall check my records and amend the letter accordingly, then send it.

I noted that their missive was "could" and "if", not "will" , but still, better safe than sorry.

[SaltnVinegar]

Re: Grassy_K's Unenforceability Diary

Hi Grassy

Ok so whatever happens, we need to give Arc Europe something to think about, other than issuing a claim and hoping to get a default judgement. Send off the letter below and then we can follow this up with another letter addressing the 'Letter before Action' which is effectively what they have sent you.

Note that the content of the letter below makes broad assumptions as you've not been able yet to find all the information I've asked for, so you need to be aware that if theres any statements below that are not correct that it may prejudice you and assist them in painting you in a bad light.

<Start of letter>

FORMAL COMPLAINT - Please do not ignore this letter

Account # [xxxxxx] <--EDIT WITH DETAILS-->

Dear Sir/Madam

I am writing to you with regard to the above account that you allege I have with your company.

Please note that ALL correspondence with regard to this account should now be placed in writing only. I will not discuss the above accounts with you over the phone, and any attempt to contact me by telephone will be considered harassment.

I wish to make a formal complaint in relation to the above loan and how it was sold to me as it has resulted in me suffering serious financial hardship and becoming unfairly indebted.

I would not have suffered such detriment had Quickquid complied with the relevant consumer credit laws in relation to my individual circumstances, in particular:

1) Quickquid failed to properly assess my creditworthiness when they lent me money contrary to section 55B of the Consumer Credit Act 1974.

2) The representative APR and true costs of the borrowing was not made clear to me. This is unfair and contrary to the Advertising Regulations and the Consumer Protection from Unfair Trading Regulations.

3) Quickquid also failed to provide me with the proper statutory pre-contractual information before I entered into the loan – including a clear explanation of the consequences of missing a payment, and default charges.

4) Quickquid also failed to provide me with adequate pre- contractual explanations on the suitability of payday loans in relation to particular types of use, and how much I would really have to pay and what would happen to me if I was unable to do so.

Had I been aware of the above information, I would not have taken out this product, and, because of these failures, I have been significantly prejudiced and have suffered financial loss & hardship.

The status of the loan is as follows:

Account # [xxxxxx] I borrowed £xxx on xx/xx/xxxx and to date I have repaid £xxx

I would really like to settle this complaint amicably, and respectfully remind you not just of the failures above but also of your companies obligations to treat customers with forbearance as per FCA CONC guidelines, specifically with regard to freezing interest and charges on the accounts of those suffering financial hardship. I should also remind you that the above failures will be brought to the Courts attention should you issue a claim.

With all of the above in mind, as I have already repaid back the capital on the loans mentioned above, plus interest, I would suggest it is in the best interest of all parties for you to close the above account.

If you are not prepared to do so please explain why, within the statutory 8-week period, so I can take my complaint to the relevant regulatory authorities, including, but not limited to the FCA.

I remind you of my request to keep all correspondence with regard to these accounts in writing, and look forward to receiving your written response shorty.

Yours sincerely

Grassy K

[nanna58]

Re: Grassy_K's Unenforceability Diary

All the very best Grassy xx

[SaltnVinegar]

Re: Grassy_K's Unenforceability Diary

Hi Grassy

You said you had an electronic copy of the credit agreement. Was this sent to you via email and can you dig it out?

I'm sorry to push on this, but otherwise we're flying blind a bit as there's information in that credit agreement that could be important. Knowing the original amount of credit, and the type of credit agreement is also important.

Arc Europe have been known to issue claims, but its very rare. I think we can challenge the above but it depends on what records you have kept.

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Hiya

Are you able to post a copy of the letter please (taking out personal info)?

Could you also let me know what the original loan you took out was for (or the rollover), how much you've paid to date, and also what the balance is they are claiming?

Thanks
SnV

Thanks SnV, please find attached heavily redacted letter.

They are claiming in the ballpark of around £800-£900 with the court costs on top.

It's hard to say what the original loan was for because I was simply granted the facility and constantly taking bits out and repaying to live on. However I've gone through all the statements and have paid £150 less in to the account than I've taken out of it. The excess over and above this amount they are claiming on top of that, is purely the interest.

I offered to pay Quickquid the £150 difference in full and final resolution of the matter back in May, but they refused and passed the account to ARC shortly after.

[SaltnVinegar]

Re: Grassy_K's Unenforceability Diary

Threat received from ARC Today - "A county court claim has now been prepared against you" with 14 days to pay up. Are you around, SaltnVinegar? I could really do with some advice on this.

Hiya

Are you able to post a copy of the letter please (taking out personal info)?

Could you also let me know what the original loan you took out was for (or the rollover), how much you've paid to date, and also what the balance is they are claiming?

Thanks
SnV

[Deepie]

Re: Grassy_K's Unenforceability Diary

Threat received from ARC Today - "A county court claim has now been prepared against you" with 14 days to pay up. Are you around, SaltnVinegar? I could really do with some advice on this.

might be an idea to give him a quick PM ...........

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Threat received from ARC Today - "A county court claim has now been prepared against you" with 14 days to pay up. Are you around, SaltnVinegar? I could really do with some advice on this.

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Well this lot ARC are the most persistent bunch of buggers I've ever encountered - several calls a day to my mobile with caller displays pretending to be another mobile phone, now calls to my workplace have started as well. Completely unacceptable and the telephone harassment letter will be going off forthwith.

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Date loan taken out 2013
Amount of loan Was the Flexcredit product (now discontinued) - fixed credit limit with drawdown on request and 20% per month interest.
Amount paid to date
Date a payment was last made 2014
Status (i.e. have you discussed a payment arrangement)? F&F offered of remaining principal less interest - refused
Did you have to fill out an application form and do you have a copy? Yes (electronic) - and no
Were you given any pre-contact information or fact sheet so you could assess the affordability of the loan that was being offered to you? I think so, from memory
Were you given a Risk Warning at any point during the application process (ie. told something along the lines of 'make sure this product is right for you' No, don't think so
Were you given a credit agreement and if so do you have a copy? Did have one electronically, no copy
Did you at any time 'roll over' (or did you 'reloan') and if so how many times? Yes, was constantly drawing down and repaying in a vicious circle
Did you get a notice of assignment from QQ regards Arc Europe taking over the account? Yes
When was the last time you sent any correspondence to them (either by email or post) and have you kept copies of any of the correspondence that you have with them? About 5 months ago for F&F, yes I kept it.

[Grassy_K]

Re: Grassy_K's Unenforceability Diary

Alright. I've got some homework to do then - back in a few days, thanks SnV