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CCA's enforceability etc....
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aj2703
Posts: 876 Forumite
in Credit cards
Rite as some of you may/maynot know i am going down the CCA enforceability route with a DCA. What i'd like to know/discuss is where do you guys stand on this with regards to paying the FULL AMOUNT back to a DCA who have purchased the debt for a FRACTION of the price. I have said in another thread that i'd have no quams about coming to an arrangement with the origional lender, but even though i got myself in trouble i do object paying the full amount to a dca. Some may argue that a bank/card company etc has a right to sell the debt on, but do you think it's right for a DCA to go after the whole amount without lending the full amount out in the first instance..?
Please keep this to a civilised discussion with no flaming etc.
Please keep this to a civilised discussion with no flaming etc.
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the charges the DCA's charge are out of order, the company I now work for was 2 weeks behind on the rent and the landlord sent a bayliff in, the rent was £1045 in arreas ( 1 months rent) and the bayliff charged over £700 for the visit, when the boss said she would pay 1/2 then and another 1/2 in 2 weeks they went away with the 1/2 in cash but said if the other 1/2 is not paid on time then it would be another £700 in charges for another visit, this should be illegal !!0
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Nope I don't think it's fair at all.
I think DCAs should be abolished and the banks should deal with their own problems. Helping their customers more if they are willing to pay, such as freezing, reducing interest or adjusting to what they can afford to pay back each month. They have access to information such as what is coming in and out, so should be able to see if someone is in financial trouble, or about to be and advise them based on what they already know. Maybe allowing more breaks from unsecured credit until they can see their situation has improved.
It's ridiculous to think that a person who has lost their job and is now on benefits should be able to keep up what they were paying before.0 -
Enlightenment wrote: »Maybe allowing more breaks from unsecured credit until they can see their situation has improved.
Execellent comment.
When i was younger i got into debt and couldn't pay etc etc so it got passed to a DCA. They eventually caught up with me and came to an arrangement with me. This arrangement has been going on for a long time, so much so that i am certain i have paid back the origional amount and if not definately a significant amount more then what they brought the debt for.
Now i am back on my feet i would have no problem paying the bank back the origional amount along with an agreed amount of interest for the time i wouldn't have being paying them. My distaste comes from these DCA's who hound you for money, putting you down and making you feel guilty for not paying them the full amount that they purchased for a fraction of the price.0 -
My partner took out a loan of £10k, paid off £16k and it's now back to £16k again, due to him missing a few payments as he had a RTA.0
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I agree, I mentioned in another post what happened to me and my business, I now earn 1/4 of what I did and tried to put an IVA together to pay what I could on my debts but the good old bank said NO. My home that I was putting in to the IVA is now getting repo so I have nothing left to pay them back with so what do they do, easy sell the debt to a DCA to add more charges.0
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I'm all for paying back our debts; however to me it partly depends on why the debt was passed to the debt company in the first place. If there was a genuine complaint against the credit company and they just wouldn't listen and simply decided to pass the debt to the debt management company, I wouldn't be happy to pay the money. Reading these forums, it seems that these debt management companies use heavy-handed tactics to get the money out of people.
Perhaps the credit card companies are too quick to pass on the debts to the debt management companies these days. When the credit card company passes on the debt, it means that they don't get paid the full amount, the customer is left in great difficulties, plus the customer is hounded by the debt management company. There are many genuine people that are left high and dry.
To me, there is no blanket right or wrong answer in all of this. I think each case should be assessed on its merits. It's easy to say that all of the banks are run by money grabbing folk and they deserve all they get. There is also the argument that individual borrowers should pay back their debts. However sometimes, the banks treat individuals in a way that causes them great distress when they need some additional flexibility.0 -
it seems to me that if the card company is willing to sell the debt to a DCA for about 10% why dont they offer it to the customer first? would save a lot of problems and they we might see the back of the DCA (blood sucking scum)0
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I guess it all stems from the banks lending irresponsibly anyway. Had they not originally lent to those that clearly would struggle to pay it back, they wouldn't be passing on so many accounts to debt management companies. If they were passing on less accounts, perhaps they would be more inclined to work with the customer to find a way where they could pay it back (whilst also not charging crazy amounts of interest for one missed payment).
I think we're all saying the same thing here. If the banks were more willing to work with the customer in the hard times, they would get back a lot more money.0 -
wherestheend wrote: »the charges the DCA's charge are out of order, the company I now work for was 2 weeks behind on the rent and the landlord sent a bayliff in, the rent was £1045 in arreas ( 1 months rent) and the bayliff charged over £700 for the visit, when the boss said she would pay 1/2 then and another 1/2 in 2 weeks they went away with the 1/2 in cash but said if the other 1/2 is not paid on time then it would be another £700 in charges for another visit, this should be illegal !!
that is so evil - talk about hit you when you are down
all these parasites are making money out of unfortunate people - why charge them hundreds of pounds they just don't have0 -
wherestheend wrote: »it seems to me that if the card company is willing to sell the debt to a DCA for about 10% why dont they offer it to the customer first? would save a lot of problems and they we might see the back of the DCA (blood sucking scum)
That would never happen. Imagine if it did you could go get a loan for 20k make out you have money troubles and pay just 2k back.0
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