a little light relief

jonathon

this is from the credit industry news letter.

http://www.imfs.co.uk/downloads/sp-dec08.pdf



CCA REQUESTS
on the increasews and views from the
credit management industry
More and more debtors of our
consumer clients are delaying
payment by requesting copies
of their Credit Agreements
under the Consumer Credit Act
1974 and also requesting
Subject Access Requests
(SAR's), before they will enter
into communication regarding
repayment. The whole process
from the request, to supplying
the information back to the
debtor, is extremely time
consuming and costly for
agencies and clients alike,
despite the fact that we receive
the sum of £1 for each request!!
(I think the fee needs reviewing
by the relevant government
department somewhat! says
Denise Crossley MD). The
deadlines involved are also
quite tight and, if not adhered
to, allows for the debt to
become unenforceable by law!
This is therefore a very hot
topic at present.
The consumer websites, which
are numerous and highly active,
are increasing the volume of
requests by providing debtors
with template letters to send to
lenders and agencies which is
becoming a huge headache for
the industry. Some of the
advice given on these sites is
also inaccurate and although the
OFT, FOS and other regulatory
bodies are aware of the websites,
they have unfortunately done
little so far to discourage the
use of them. Our industry
body, the CSA, are already
fighting the cause on this issue
for agencies across the UK, but
I envisage we will encounter
many more months (if not years!)
of this problem, which could
be costly for us all!



Love the bit about consumer websites :T

Numpty_Monkey

Oh the poor dears:rotfl:

jonathon

it must be really hard for them

poorandindenial

LOL - it only costs them more than £1 because they don't bother keeping their files in order and don't bother getting all the paperwork from the original debt owner. Otherwise it would be a 5 minute job to

get file > print copy > put in envelope > send.

Even with updating correspondence and customer relationship management systems it shouldn't kill them - perhaps they need more template letters because they are spending ages on carefully crafted prose

Deep_In_Debt

Oh dear!
It probably costs them less to send us a template letter but they still charge the earth for it!
I will lose so much sleep over this - perhaps if they hadn't bullied, threated and lumped on charges, then people may not have bothered requesting their CCA's.