The Sub Prime Credit Thread - Part IV

ballylewis

I have applied for a Very catalogue but have been rejected and have the letter saying no unfavorable information was on my credit report. I dont have many credit accounts so not much data for that but have a couple of defaults a few years ago. Shall i appeal it says i can appeal for a manual review by either phoning a number or sending a utility bill in. Is this just for address verification as my flat has only been built in the last two years. i have just been accepted for vanquis and aqua do you think this looks promising? do i ring them or write to them?

never-in-doubt

jipp05 wrote: »

Hi im really hoping someone can give me some advice. I checked my credit file today and the final default has been removed after the 6 year date so i was really pleased. However i got a letter from aktiv kapital this morning telling me they are sending someone to my house and if i dont pay an old default they will taker legal action.
I have worked really hard paying off my debts to get my file clean and this last one i am sure has been paid so i dont know what to do. I wrote to them months ago telling them it was statute barred and got no reply so i was wondering if i should phone them and tell them to stop threatening me with court action as it is againt the rules? Also they have linked my address with my old 1 will this pose a problem for me as i do put my old address down on any applications?

Before sending the statute barred letter that you've been advised, you need to be 100% certain that the last payment made was over 6 years ago - not that the default was over 6 years old.

If you paid say 3 years ago, then send the Statute Barred letter - the debt is enforceable again (because you have acknowledged it by sending the SB letter) so whatever you do DO NOT SEND THE LETTER until you have checked your credit report and seen the last payment date.

If and only if the last payment was over 6 years ago can you send the SB letter otherwise you just ignore the DCA - there is nothing they can do.

never-in-doubt

jipp05 wrote: »

Thanks for the help guys:beer: i will get it printed off and send it to them tomorrow. Hopefuly they will then not send anyone to the house as my mum is already panicing thinking they are going to come in and take things even though i told her they cant!

Nooooooooo - do not do this just yet! See above post

never-in-doubt

wayne99 wrote: »

if the debt is over 6 years old, and you have not acknoledged the debt in writing or made a payment in the 6 years then the debt is unenforcable in the courts, so just send them another 6 year letter, send recorded delivery and keep a copy for your records.

Almost matey

If the debt is over 6 years old then the Limitation Act 1980 (Limitation Act 1980 - Wikipedia, the free encyclopedia) comes into play, this is not the same as unenforceability (as we know it) - basically, with unenforceability the debt can be pursued at any time once they find a CCA (within 6 years of last payment of course). With statute barred, the debt cannot be pursued - ever - if 6 years have passed since last payment.

See the slight, but major difference?

wayne99 wrote: »

secondly they can send anyone they like to your home, but they cant do jack all without a court judgement to enforce so dont worry. they can threaten all they like but if the debt is over 6 years old they cant do !!!!!! all other then make threats.

Again, almost there

Even a court judgement would not allow them access to your property, only you opening the door and inviting them in would allow them to remove goods. A court order for this type of debt, can be ignored so long as you do not let them into your house.

The law is very pro-consumer with these things, best to always bear that in mind.... (i.e. they are not there to trick us, more safeguard us)

never-in-doubt

ballylewis wrote: »

I have applied for a Very catalogue but have been rejected and have the letter saying no unfavorable information was on my credit report. I dont have many credit accounts so not much data for that but have a couple of defaults a few years ago. Shall i appeal it says i can appeal for a manual review by either phoning a number or sending a utility bill in. Is this just for address verification as my flat has only been built in the last two years. i have just been accepted for vanquis and aqua do you think this looks promising? do i ring them or write to them?

Try appealing it, obviously they do not know about the defaults so do not mention them either!

It aint the best catalogue to be fair, also you could be declined if you're not on the electoral register and if they deem that you have too many new accounts.....

But deffo appeal.

ballylewis

I am on the electorol roll and have lived at my address for 18 months. What are the best catalogues to apply for nid as I am wanting to build my credit rating back up. Why is very not too good?

Thanks

never-in-doubt

ballylewis wrote: »

I am on the electorol roll and have lived at my address for 18 months. What are the best catalogues to apply for nid as I am wanting to build my credit rating back up. Why is very not too good?

Thanks

I think you'll find the credit cards you hold will do more for you than a useless catalogue mate...... consider JD Williams, smaller starting limits and less likely to go to £3k odd like the SDG ones - i.e. waste of unused credit.

But if you have a couple of cards, then these will be the best way to improve your score, also electoral register participation....

No need to get Very, just for the sake of it

wayne99

never-in-doubt wrote: »

Almost matey

If the debt is over 6 years old then the Limitation Act 1980 (Limitation Act 1980 - Wikipedia, the free encyclopedia) comes into play, this is not the same as unenforceability (as we know it) - basically, with unenforceability the debt can be pursued at any time once they find a CCA (within 6 years of last payment of course). With statute barred, the debt cannot be pursued - ever - if 6 years have passed since last payment.

See the slight, but major difference?



Again, almost there

Even a court judgement would not allow them access to your property, only you opening the door and inviting them in would allow them to remove goods. A court order for this type of debt, can be ignored so long as you do not let them into your house.

The law is very pro-consumer with these things, best to always bear that in mind.... (i.e. they are not there to trick us, more safeguard us)

I was nearly right then lol iam a noob to all this but learning quickly....

:beer:

ta

wayne.

never-in-doubt

wayne99 wrote: »

I was nearly right then lol iam a noob to all this but learning quickly....

:beer:

ta

wayne.

Yes mate - very good for your starter question lol

Multiple choice next round eh? :beer:

Hows it going anyway matey?

Zack1

Finally got my parcel from HSD today! They sent it to my "Home" address but it's been sent on to me - turns out I could have grabbed it afterall as I was back for football Saturday but oh well!

There was also a book of offers (apparently it wasn't the catalogue as they've had high demand and don't have any left - it looked very much like a catalogue to me, and was certainly big enough to be one!). Also a credit agreement to sign and send back – once I’ve done this will they review my limit and send me a statement? I had a order confirmation in the parcel, but I haven’t had anything saying you need to pay X by Y etc

Just wanted to also check this clause (under "other financial information")

Total charge for credit (interest): £23,36 (yes the comma is what they have put in, not a decimal place!!)
Rate of interest 39.9% (yay they got it right!) per annum

What I don’t understand is how the £23 is made up. I understand interest, as, like credit cards etc, if I don’t pay that gets added on etc. But how can they say £23? Is that just a charge that will be added if I ever don’t pay on time, as well as interest, or is it an annual charge that they will bill me with regardless?

Thought I better check before signing to prevent any problems later!:p