Anyone dealt with Arrow Global Before?

berkshirebowman

Hi All,

Took out a loan about 7 years ago when I was single and carefree, got into problems, never heard a word from Alliance and Leicester(honestly) and last year got a letter from A G to say that it was now their debt and they were coming after me for it....

Now, here is my problem, AG say that I owe them around £16K, which I do not dispute, but also cannot afford to pay. I have an arrangement where I pay a token payment of £20 a month, which they are happy with.

Just got my experian report, and it tells me that I defaulted on the loan in December 2002, as I have not defaulted with AG, does this mean that after 6 years (IE Dec 2008), as long as I keep paying AG, then I will lose the black mark on my report.

I assume that AG purchased the debt from Alliance and Leicester for considerably less than the £16k that I owe, would it be worth me approacing AG with an offer?

fermi

The default and details of the account will fall off your credit reference files 6 years from the original default date. That should happen irrespective of your payment history with AG.

AG are not entitled to add a further default on your record, or in any other way extend how long the record remains on your file.

It's possible that they might be amenable to a Full & Final Settlement on the account.

There is a factsheet on making these in the following link:

Link: Factsheet | Full & Final Settlement offers

berkshirebowman

ok.. to confirm then... even if I carry on paying the £20 a month for the rest of my life, unless they change the arrangement to make me default, this will dissapear as a red mark in December this year?
My other issue is that, because I owe £16k, my credit score is penalised (high borrowing) but I guess that is better than a red mark....

fermi

berkshirebowman wrote: »

ok.. to confirm then... even if I carry on paying the £20 a month for the rest of my life, unless they change the arrangement to make me default, this will dissapear as a red mark in December this year?

The arrangement you have with them is completely informal.

If they want to change it, or you fail to keep to it, they are not entitled to issue another default.

The default and records of the agreement should be removed from your credit files in December, and after that they are not entitled to record any more information regarding this debt.

berkshirebowman

Yes!!!

At last the end is in sight!

fermi

Maybe, but keep an eye on what they do, because debt collection agencies are sneaky "bleeps" and don't always act according to the rules.:rolleyes:

Plus, while the normal default information should disappear, they would still have the option of seeking a county court judgement on the debt which would be recorded on your credit reference files if they got it.

kathy40uk

Hi

This is what came up when I searched 'Arrow Global' so I hope i haven't missed any I did try to search but probably missed something in my panic so I'm sorry if I have but if I put the question out there it will help.

I had a letter from these people today saying that they had bought a mastercard debt from Lloyds TSB quoting the card number.

I did have a mastercard from Lloyds back in the 90s which I defaulted on and had had a judgement against me in 98/99. This debt was passed on to Cabot which I was paying then in 2003 I went into a dmp with payplan which included this debt. in 2006 I upped my payments with payplan as I was then working and everything was cleared in Feb 2009.

I rang the number on the letter and explained this and also told them that this would have been statute barred anyway (that's right isn't it) and the man was very unhelpful and said that I had ro send proof in writing that this was paid. I explained I had nothing with this card number on as it had been sold on so long ago but that I would try to find some paperwork from Cabot (I am hoping I still have a paid letter somewhere) but this would only have their reference number on it and I got the feeling he was telling me this wasn't good enough as it won't have the original mastercard number on it, I don't really know what to do now, I have e mailed my old advisor at payplan to see if they still have confirmation of payment on file and will be looking through old paperwork in a minute but is there anything else I can do? It is for £929 and I KNOW it has been paid off and am in a bit of a state. Would I be best trying to send them paperwork from the old collection agency if I can find it? even then I'm not sure which of their reference numbers referred to the mastercard and which to the Visa or would I be better off just telling them they can't chase me for it due to it's age? Somehow the latter seems sneaky like I am trying to avoid it which I'm not because it was all paid off.

Sorry if I'm ramnling but this has really upset me this morning

kathy40uk

probably being impatient, sorry but can anyone give me any advice about above?

kathy40uk

anyone? ss if being a nuisance

Cumbrian_Male

If you had a ccj then it can't be statue barred.

kathy40uk

Thanks for the reply Cumbrian. that's the stuff I need to know :) I don't want to go writing off some rubbish which is totally wrong. Mind you I feel an idiot for saying this on the phone Should have read more about it instead of panicking)

I haven't had a reply from Payplan yet what is the best thing for me to do? Just write and say it has been paid and give Cabot and Payplan reference numbers? (I think Cabot sold it on to someone else while it was with payplan as the creditor names changed) but I did evertyhing with Justabank so didn.t have paper except for in the very beginning. I can't even get the judgment order any more as it's all off my file.

This has really scared and upset me because this has all been paid, has this ever happened to anyone else?