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  • FIRST POST
    • Burnt Reynolds
    • By Burnt Reynolds 7th Nov 16, 2:53 PM
    • 32Posts
    • 15Thanks
    Burnt Reynolds
    PRA Group/Aktiv Capital - Broken Arrangement Letter
    • #1
    • 7th Nov 16, 2:53 PM
    PRA Group/Aktiv Capital - Broken Arrangement Letter 7th Nov 16 at 2:53 PM
    Last week I had a number of missed calls from the PRA Group asking me to contact them and then over the weekend I received a letter with the title 'Broken Arrangement' advising that the payment plan I had entered in to with them has not been maintained and has now fallen in to arrears despite them referencing my last payment as being October 2016.

    The debt they are referring to is one that they purchased from MBNA in February 2012 and to which I have been paying £60 a month without issue for nearly 5 years but suddenly I am now being told that the account is in arrears.

    The original balance was £16k which is now down to £12k after my payments. I recently checked my Credit File and all history of the payments to Aktiv Capital seemed to have been wiped and the last payment for October is now listed under the PRA Group. Previously there was a specified amount listed against Aktiv Capital in regards to the monthly payment which is now missing from the PRA Group entry.

    The letter also states that they are keen to help me reduce the balance of my account and that if I fail to contact them, collections activity, including letters and phone calls will recomence.

    Does anyone have any ideas what they are playing at? I don't hear from them for nearly 5 years aside from the odd statement and then with just over 12 months to go until the default drops off my account they tell me I'm in arrears?
    Last edited by Burnt Reynolds; 07-11-2016 at 3:18 PM.
Page 3
    • Bedsit Bob
    • By Bedsit Bob 2nd Oct 17, 5:17 PM
    • 9,835 Posts
    • 51,613 Thanks
    Bedsit Bob
    In a nutshell, if a creditor can't supply said agreement, or a reconstituted copy of it, then all legal means of enforcing the account are taken away from them
    Originally posted by sourcrates
    Given the age of the agreement (pre-2007), aren't they required to have the original, signed agreement?
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - £1161
    • sourcrates
    • By sourcrates 2nd Oct 17, 5:40 PM
    • 12,714 Posts
    • 12,051 Thanks
    sourcrates
    Given the age of the agreement (pre-2007), aren't they required to have the original, signed agreement?
    Originally posted by Bedsit Bob
    No, that's a bit of a mis-conseption Bob, the only difference between pre-April 2007 agreements, and later ones, is that the "prescribed terms" must accompany pre-April 2007 agreements, to be enforceable.

    Dosent matter when your agreement dates from, a recon will suffice, you never had to produce the exact original piece of paper.

    A lot of creditors don't fully realize these rules themselves, so what hope have we.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
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    • Burnt Reynolds
    • By Burnt Reynolds 3rd Oct 17, 3:11 PM
    • 32 Posts
    • 15 Thanks
    Burnt Reynolds
    It's the prescribed terms that they appear to having issues with.
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