How do dispute a debt

deboy

Hi there,

Last yr i took a small loan out from provident. it was for £500 over a 12 month period to be paid back at £15.00 per week.

At first this was going ok and i was keeping up with my payments. Then the doorstep collector stopped coming round and i never saw her for some 6-8 weeks. I then moved address and a few months back i was contacted by a debt collection ageny called moorcroft. They informed me that they had been instructed to collect the payments as provident had found it to be cheaper than send agents round to adresses(this would explain why the agent ceased collecting). The moorcroft agent told me that my outstanding amount was £650.00 and can i arrange a payment. I asked the agent why the outstanding balance was so much and he said thats what you owe. I mentioned that i had been making payments and that the original amount borrowed was only £500.00 and the total repayable was no more than £780.00 and so i couldnt owe that much as i had been paying it off for 6 months or so. he said he would look into it and get back to me. since then i have had several phonecalls from moorcroft chasing me for this £650 and i keep telling them that amount is wrong. I no longer have the payment card showing the payments ive made which they have asked for to prove i did infact make any.

Could someone advise me on what i can do to sort this out. Im not denying i dont owe money to provident but its certainly not £650.00

Moorcroft have not added any fees and there is no intrest being applied so it cant be right.

They are now threatening court action and have told me that debt enforcement agents will call round to collect.

Please Help!!!

mandycr

have u kept your loan agreement, maybe u should check it as provident has an apr of 272.2 which means your total loan after borrowing 500 would then make £910 repayable so it sounds right that u only paid it for a 6 months or so at 15 quid a week for 6 months means paid a total of £360.

sounds right to me my advise is stay well clear of provie

JamesBlue_3

deboy wrote: »

Hi there,

Last yr i took a small loan out from provident. it was for £500 over a 12 month period to be paid back at £15.00 per week.

At first this was going ok and i was keeping up with my payments. Then the doorstep collector stopped coming round and i never saw her for some 6-8 weeks. I then moved address and a few months back i was contacted by a debt collection ageny called moorcroft. They informed me that they had been instructed to collect the payments as provident had found it to be cheaper than send agents round to adresses(this would explain why the agent ceased collecting). The moorcroft agent told me that my outstanding amount was £650.00 and can i arrange a payment. I asked the agent why the outstanding balance was so much and he said thats what you owe. I mentioned that i had been making payments and that the original amount borrowed was only £500.00 and the total repayable was no more than £780.00 and so i couldnt owe that much as i had been paying it off for 6 months or so. he said he would look into it and get back to me. since then i have had several phonecalls from moorcroft chasing me for this £650 and i keep telling them that amount is wrong. I no longer have the payment card showing the payments ive made which they have asked for to prove i did infact make any.

Could someone advise me on what i can do to sort this out. Im not denying i dont owe money to provident but its certainly not £650.00

Moorcroft have not added any fees and there is no intrest being applied so it cant be right.

They are now threatening court action and have told me that debt enforcement agents will call round to collect.

Please Help!!!

Hi there,

I can't actually tell you what to do, but my sister is going through a similar thing.

If anyone has any advice, then I also will be interested in learning!

James :mad:

deboy

No i havnt kept my original agreement. But i do remember that the total repayable was £780. Is there a letter template available so i can ask for a copy of the original agreement so i can double check.

Any help is much appriciated

rog2

deboy wrote: »

No i havnt kept my original agreement. But i do remember that the total repayable was £780. Is there a letter template available so i can ask for a copy of the original agreement so i can double check.

Yes there is, deboy. ANY debtor is, legally, entitled to request a true copy of the original executed consumer credit agreement. This should be requested from the person chasing you - in your case Moorcroft.
If Moorcroft can NOT provide you with a compliant copy of the agreement within 12 working days of your request, then they will be 'in default' and, whilst they remain in default, can NOT enforce the agreement.

Whilst Provident is a 'Sub Prime' lender, they must, nevertheless, comply with the requirements of the Consumer Credit Act, 1974.

For factsheet, and template letter, have a look at:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=getting_a_copy_of_your_credit_agreement_and_account_details

deboy

great stuff thanks, i wil keep you all informed of my progress.

mandycr

rog2 is right its your debt they should give u a copy if u cant find your own