Piggybank

[scottygees]

I have just received an email from Piggybank stating my account will be put forward for legal action with the usual mentioning of CCJ, attachment of earnings etc etc. However I have just read that they are going into administration like Wonga did. I have previously written to them about the unaffordable and irresponsible lending but this wasn’t successful and the ombudsman also sided with their decision. Can anybody give me advice as to whether it is likely a claim will be made against me whilst they are going through administration? Many Thanks

[Joanna Connolly Solicitors]

Is the history of this debt on your Diary?

Di

[scottygees]

So letter and default sent today from piggybank. However I have noticed they have previously sent me other defaults with different amounts and dates on as follows:
29/9/17 default received for £295
25/7/18 default received for £389.40
24/2/20 default received for £400

Also today I have now received an email in my junk folder from CRS IMPORTANT NOTICE-POTENTIAL LEGAL ACTION. Our client has now approved your account for Legal Action with possibility of CCJ being applied for etc etc. The letter has been signed by CRS Legal Recoveries Team. Has anybody had any experience of CRS and how likely are they to be to follow up on this threat.

Very briefly this was a £200 payday loan that was taken out back in May 2017. I have previously complained about irresponsible lending but this came to nothing and when I wrote to the FOS they upheld Piggybanks decision. I have had a lot of standard letters in between but these are suddenly becoming a little more threatening. I note that Piggybank are now in administration like Wonga were and am wondering if there is anything further I can do at this stage I.e. make a further claim against Piggybank for irresponsible lending like I did to Wonga.

hope somebody can advise a course of action

thanks in advance

[Warwick65]

When you say default received were they formal default notices served under S87(1) consumer credit act.

Did they give a date when repayment should be made and what would happen if you did, or didnot make the payment. Finally did it refer to FCA guidance on defaults and include a leaflet.

one last question, did they come by email or post?

[scottygees]

When you say default received were they formal default notices served under S87(1) consumer credit act.

Did they give a date when repayment should be made and what would happen if you did, or didnot make the payment. Finally did it refer to FCA guidance on defaults and include a leaflet.

one last question, did they come by email or post?

Unfortunately it looks like they all comply. I have them via email but the latest one has been received via post. I will try and redact and add on this thread

[scottygees]

[Warwick65]

Well I am not the expert but I see the following errors in that DN

1) It does not include their name and address and your name and address
2) It does not explicitly state which clause your broke (just a clause) - although I bet a judge might well ignore that
3) The remedy date should be a real date not just 'within 14 days' and also it should allow 14 days from the DN being served and not sent.
4) It states you need to remedy it by the date shown but I can't see the date shown
5) As I have said before, it should be sent by post

Some of this is in S88 CCA
Some is here http://www.legislation.gov.uk/uksi/1983/1561/made

I know the bit about post is in a SI somewhere but I can't find it at the moment

Never-In-Doubt Can you help

[scottygees]

Well I am not the expert but I see the following errors in that DN

1) It does not include their name and address and your name and address
2) It does not explicitly state which clause your broke (just a clause) - although I bet a judge might well ignore that
3) The remedy date should be a real date not just 'within 14 days' and also it should allow 14 days from the DN being served and not sent.
4) It states you need to remedy it by the date shown but I can't see the date shown
5) As I have said before, it should be sent by post

Some of this is in S88 CCA
Some is here http://www.legislation.gov.uk/uksi/1983/1561/made

I know the bit about post is in a SI somewhere but I can't find it at the moment

Never-In-Doubt Can you help

Thanks for the information. Just out of curiosity is there a copy of what a correctly executed default notice should look like anywhere on this site?

[Warwick65]

Schedule 2 in the link I gave above pretty much spells it out

[Warwick65]

Sadly I think I may be wrong about it needing to be by post

https://www.legislation.gov.uk/uksi/.../made/data.pdf

But that will only apply if electronic communication is allowed for in the agreement and arguably if you have told them it must be by post then it should be. I remember back in the day, I told some creditors all communication must be in writing by Royal Mail which would kind of ruin further electronic communications. They are all long since statute barred.

[scottygees]

So a further email has been received fromCRS stating their client (PiggyBank) has authorised them to progress this to their solicitor to commence legal action. Based upon the information I have provided to this thread what course of action can I take to stop them in their tracks. Many thanks

[Joanna Connolly Solicitors]

this was a £200 payday loan that was taken out back in May 2017. I have previously complained about irresponsible lending but this came to nothing and when I wrote to the FOS they upheld Piggybanks decision. I have had a lot of standard letters in between but these are suddenly becoming a little more threatening. I note that Piggybank are now in administration like Wonga were and am wondering if there is anything further I can do at this stage I.e. make a further claim against Piggybank for irresponsible lending like I did to Wonga.

How much is the current outstanding balance?

When did you make your complaint of Irresponsible Lending?

Was the FOS decision made by an Adjudicator or did you escalate/appeal the decision to an Ombudsman?

Di

[scottygees]

How much is the current outstanding balance?

When did you make your complaint of Irresponsible Lending?

Was the FOS decision made by an Adjudicator or did you escalate/appeal the decision to an Ombudsman?

Di

Hi Di

Current balance £400
original irresponsible letter sent to Piggybank in june 2017
the FOS decision was made by the adjudicator on 21st May 2018. This wasn’t escalated any further

[scottygees]

Just to say I have just logged into my Piggybank account and on there it states the account is now been passed to a third party namely ACI if that makes any difference. I haven’t received anything to confirm this I.e letter of assignment.

[Joanna Connolly Solicitors]

logged into my Piggybank account and on there it states the account is now been passed to a third party namely ACI if that makes any difference. I haven’t received anything to confirm this I.e letter of assignment.

ACI is a Debt Collection Agency so this debt has not been assigned (i.e. sold) to them > https://assetcollections.uk/about

A DCA cannot issue legal proceedings against you since they are not the debt owner.

Wait until ACI contact you then post on this thread where i expect you'll be told to ignore them by forum members.

As you've said Piggybank did go into administration last year possibly due to the enormous number of complaints made against them for irresponsible lending (I'm sorry the FOS didn't see it that way at the first stage of your Complaint to them) >

https://www.theguardian.com/business...administration

I wouldn't lose any sleep over this one but keep posting on your thread as events unfold.

Di