XX007 - UE Diary - Tomorrow never dies

[Joanna Connolly Solicitors]

Thank you - that makes a lot more sense!

Is Moorcroft's settlement offer inviting you to pay 70% of the balance (i.e. 30% discount) or offering you 70% discount?

Either way I think you need to establish whether this debt is enforceable or unenforceable before you decide your next steps.

Also remember there's more to 'unenforceability' then just the credit agreement. Did you also receive a Notice of Assignment from Intrum, or only the one from Sainsbury's?

Di

[XX007]

Sorry i should update these more


Type of account Personal Loan –Sainsbury Bank
Date commenced 18/05/2010
Approx balance £15,400
Date last paid April 2019
Are you on arrangement or not paying – paying £10 per month agreed in august2019
Status (default)
Account owner Intrum - with Moorcroft doing collections

July 2014 default notice sent
August 2014 passed to Sainsbury bank recoveries
August 2014 agreed to £13 per month payments
April 2019 Last payment made
August 2019 sainsbury instructed Moorcroft to continue with collections (various letters from Moorcroft saying action may commence)
August 2019offered moorcroft £10 per month which was accepted
April 2020statement from Sainsbury with letter inserted saying they had assigned everything to intrum from march 2020 and to continue paying Moorcroft
October 2020 60% discount settlement offer from Moorcroft
February 2021 70% discount settlement offer from Moorcroft
February 2021 CCA request to Intrum

[Joanna Connolly Solicitors]

OK Di I will do that although they have sold the debt to Intrum who i am contacting regarding the CCA. should i send an SAR to both sainsbury and intrum.

I'm glad you mentioned that

The Diary post I looked at didn't mention the assignment to Intrum which changes things a little - when was that?

So yes send the s77-79 CCA Request to Intrum but don't send a SAR to Sainsbury's yet. It would be better to wait to see how Intrum respond to your CCA Request first, that way you may capture any interaction between them and Sainsbury's which is subsequently logged.

Secondly, Intrum does not have FCA authorisation to issue legal proceedings, although that won't stop them from trying.

Jo explains the situation in her post here >

Intrum UK Finance Limited is not authorised by the Financial Conduct Authority to exercise the rights of a lender. They rely on the para 55 FSMA 2000 servicing exemption.

We look forward to using the same legal arguments in the future against Intrum UK Finance Limited which we used against Idem Capital Securities Limited in the recent successful FCA authorisation Appeal where the Circuit Judge found that the para 55 FSMA 2000 servicing exemption did not allow the unauthorised debt purchaser to issue proceedings in the county court.

Intrum also have issues with their assignment process and documentation.

Also don't send a SAR to Intrum.

Di

[XX007]

OK Di I will do that although they have sold the debt to Intrum who i am contacting regarding the CCA. should i send an SAR to both sainsbury and intrum.

in other news HSBC got in touch today to say they have reviewed my account and decided to no longer contact me in respect of the debt. they did recently send me a cheque for £50 as i had received sub standard service from their collection team. I wonder if thats the end of that one or are they going to sell it on?

[Joanna Connolly Solicitors]

The way I see it is you've been paying a modest sum each month for the last six years (£10 at the moment) for a £16k debt and they haven't 'gone legal' yet.

Send the CCA Request and see what comes back.

You can also send a SAR to Sainsbury's to see what data they hold which may/may not reveal any shortcomings with a Default Notice etc.

Di

[XX007]

Thanks folks I will send off a CCA request.

[Joanna Connolly Solicitors]

Re: XX007 - UE Diary - Tomorrow never dies

Type of account Personal Loan –Sainsbury Bank
Date commenced 18/05/2010
Approx balance £16,300
Date last paid june 2014
Are you on arrangement or not paying – paying £13 per month agreed in august2014
Status (default/in arrears/up-to-date)
Account owner (who is writing to you, a DCA or the lender)

July 2014 default notice sent
August 2014 passed to Sainsbury bank recoveries
August 2014 agreed to £13 per month payments

Is it this Sainsbury's loan which you fear may be enforceable since it was taken out in 2010?

It seems you've never sent a s77 CCA Request to them to find out, so maybe that would be a wise move now in case it is unenforceable?

Negotiation is best done from a position of strength otherwise you'll be boxing in the dark

Di

[The Tech Clerk]

CCA Request Template
if needed send with £1 proof of posting

[nightwatch]

I would always get/ask for, a copy of your credit agreement, it helps you to know if they MAY be open to offers.

[XX007]

Hello everybody the Nationwide debt has been removed now from the CRA so I only have three defaults by Barclaycard on there now.

Moorcroft have wrote to me today with a settlement offer which is 70% of my outstanding loans. The most i could afford to repay is about 12%.

I am currently paying them £10 per month and it from a personal loan from Sainsbury in 2010. As it started in 2010 and I am fairly sure it is enforceable i have always tried to keep a monthly payment up.

Do you think now is a good time to use a template letter off here and offer perhaps a 5% repayment? Are the debt recovery companies more receptive to offers at this particular time? Or would I better getting a copy of the credit agreement in the first instance.

[nightwatch]

That is the problem.
The CRA's have no one to answer to, it is always the fault of the informer of the information, never that they (cra) should do the checking of their own files, to question a mistake.

[XX007]

I think the technical problem was with Nationwide and their communication with the credit reference agencies. I was tempted to take Equifax to the ombudsman but i expect the verdict will be they were given incorrect information and cannot be held responsible.

[Joanna Connolly Solicitors]

I've been sent an email today they are going to remove the record and send me £75. Apparently they have double defaulted a number of accounts because of a technical problem. will take 2 months to be updated with the credit reference agencies. Thanks for all your help it's good to start the year with a win.

That’s definitely a good start to the year.

What a pity Equifax didn’t uphold your complaint to them at the beginning of last November. Perhaps you should send them a copy of your email revealing that you were not alone in having your account defaulted twice by Nationwide.

I wonder how many consumers have had their Equifax credit rating ruined by this “technical problem”.

Di

[XX007]

I've been sent an email today they are going to remove the record and send me £75. Apparently they have double defaulted a number of accounts because of a technical problem. will take 2 months to be updated with the credit reference agencies. Thanks for all your help it's good to start the year with a win.

[nightwatch]

It does not mention it on the actual date the default letter was sent but there is a note at a later date on the SAR saying default 09/07/2014. plus that date is mentioned a number of times.

There are loads of notes for most recent dates where they have made changes to the CRA information but it does not really say why not to my untrained eye.

they have sent me the CCA and original T & C's

Well then if the Default is noted in your SAR, then they have not looked at your account history before defaulting you again. don't think any of them keep copies of the default notice, strange really when it is an important item when it comes to court.
My CCA was a copy of my application, signed, a copy of my Direct debit, signed, and the cover letter said the T&C would have been on the reverse of the application.
I have 4 different lots of T&C's for this account, none of them would fit on the back of the application form, not one has the same date on them.