Unenforceable Credit Agreements

wherestheend

if the DCA has purchase the debt it is my understanding that you then have to pay them. They seem not to be bound by any rules and charge you what they want. They then phone you at all times even on a Sunday at 8am they have no morals. I find an answer phone a good one as they never leave a message.

epsilondraconis

aj2703 wrote: »

http://forums.moneysavingexpert.com/showthread.html?t=1523601

What do you guys think in that situation then...?

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.

noah271007

Do you have a name of this particular DCA? They are bordering on harassment. You can take them to court for this. Write a letter (without your signature) and tell them you are disputing the debt. It is possible to pay the debt in full to the lender and not DCA. I know because I have done this before.

bert&ernie

noah271007 wrote: »

I would insist on paying the amount in full to the lender directly and not through DCA. Then write to them and say i do not owe the debt and refer them to the lender to confirm debt has been paid.

The DCA have purchased the debt. The original creditor no longer has anything to do with it.

noah271007

epsilondraconis wrote: »

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.

I am in full agreement with you. Excellent post epsilondraconis!

noah271007

bert&ernie wrote: »

The DCA have purchased the debt. The original creditor no longer has anything to do with it.

That might be true. However it is possible DCA have to return the debt back to lender if it is in dispute. Like i just said in my previous post, it did happened to me! (after a long battle).

wherestheend

Yes I have had a letter back from Link Financial after sending a CCA letter and they have said they do not have it and have asked MBNA for it, from what I read on here they should not be harrasing me for the money if they do not have the legal paperwork to do so. I have sent them the Dispute letter, see what comes back.

live-life-debt-free

Does this mean that all the posts in the won forum at CAG are fake?

noah271007

wherestheend wrote: »

Yes I have had a letter back from Link Financial after sending a CCA letter and they have said they do not have it and have asked MBNA for it, from what I read on here they should not be harrasing me for the money if they do not have the legal paperwork to do so. I have sent them the Dispute letter, see what comes back.

Keep me posted. You can PM me for direct advice, as i can help you more in that area i.e dealing with DCA.

MABLE

bkhall wrote: »

i have heard advertisement on local radio claiming that you can possibly have your credit card balance wiped out if your agreement was signed before april 2007. does anybody know anything about this or even experienced it. Is it a no win no fee thing or do you pay fee upfront etc????

Sorry not able to help. However I find it interesting that customers are only concerned about this after they have spent on the card. If I had a suspicious
mind I could think it was just another ploy to get out paying ones debts. Im sure however in your case this would not be the case!