MAX recovery ltd???????

pat0411

I went into a trust deed under Scots law 20 months ago. We had a joint debt (A Together Mortgage) with Northern Rock We repaid the mortgage,but not the unsecured element. Basically, due to mess -ups on both sides, NR eventually sued my partner for the whole debt, and have also claimed the whole debt against my trust deed. My partner, who is not bankrupt and still has a credit rating, has been paying this debt for several months by Direct Debit. Lo and behold, six weeks ago he gets the 'Max Recovery - do not reply' letter.The Direct Debit from our bank was stopped by Northern Rock. When we eventually managed to talk to someone at Northern Rock he said this had been a mistake. Now NR are saying the debt has been sold on and have not been returning our phone calls. MAX recovery havent asked my partner for any payments towards the debt. Is it worth trying to get in touch with this MAX recovery lot, as we couldnt face another trail to courts etc.We are trying to ensure that we bank the money each month in case they come back to us, but as it was quite a struggle to afford the payments in the first place, it is only to easy to dip into it - especially at Xmas!

fermi

pat0411 wrote: »

I went into a trust deed under Scots law 20 months ago. We had a joint debt (A Together Mortgage) with Northern Rock We repaid the mortgage,but not the unsecured element. Basically, due to mess -ups on both sides, NR eventually sued my partner for the whole debt, and have also claimed the whole debt against my trust deed. My partner, who is not bankrupt and still has a credit rating, has been paying this debt for several months by Direct Debit. Lo and behold, six weeks ago he gets the 'Max Recovery - do not reply' letter.The Direct Debit from our bank was stopped by Northern Rock. When we eventually managed to talk to someone at Northern Rock he said this had been a mistake. Now NR are saying the debt has been sold on and have not been returning our phone calls. MAX recovery havent asked my partner for any payments towards the debt. Is it worth trying to get in touch with this MAX recovery lot, as we couldnt face another trail to courts etc.We are trying to ensure that we bank the money each month in case they come back to us, but as it was quite a struggle to afford the payments in the first place, it is only to easy to dip into it - especially at Xmas!

Hi.

Trust deeds aren't quite my thing, but I have copied your post into a new thread on the IVA - Individual Voluntary Arrangement board board.

Link: Trust Deed & Max Recovery?

ShellyandBryan

I have just discovered that Max recovery have regurgatated a debt from my bankruptcy on my credit report: :mad:
Company name:MAX RECOVERYAccount type:Credit card / Store cardStarted:08/10/2004Default Balance:£1,577Current Balance:£1,511Defaulted On:16/08/2005File Updated for the Period to:26/09/2010Status history:
[] brackets indicate most recent months status Note: A defaulted account is removed from your report after six years whether or not you have paid the debt in full. If you have paid some of the debt off, the balance should show how much you still owe.


I'm trying so hard to get my credit rating back on track my bankruptcy was in 2005 and all cleared now. How can they be allowed to continue to flash this up on my credit report as a default!!! I'm fumming, this is surely illegal? Help please someone, what do I do, should I write to them, or my solicitor that dealt with my bankruptcy? I'm so upset I thought it was all behind me.

fermi

ShellyandBryan wrote: »

this is surely illegal?

Sorry, but it is perfectly legal.

When they buy the debt, Max recovery are entitled to take over the reporting of a default etc on your credit report.

That is subject to a few conditions though.

- If the original company had a default on your report, then that should be removed if Max want to put their entry on.
- If the default is after the date of your bankruptcy order, then they should change this so that it no later than the bankruptcy date.

Gordon_Hose

fermi wrote: »

- If the original company had a default on your report, then that should be removed if Max want to put their entry on.

So a DCA can remove a previous Default given in, say, 2005, just so they can put their own fresh default on, thus rendering your credit file rubbish for another 6 years?

fermi

Gordon_Hose wrote: »

So a DCA can remove a previous Default given in, say, 2005, just so they can put their own fresh default on, thus rendering your credit file rubbish for another 6 years?

No.

If a DCA takes over the CRA record, then the default they place must have the same date as the original (or at least, not be later).

So that will drop off at the same time (or before) the original would have. i.e. 6 years after the original default date.

Gordon_Hose

fermi wrote: »

No.

If a DCA takes over the CRA record, then the default they place must have the same date as the original (or at least, not be later).

So that will drop off at the same time (or before) the original would have. i.e. 6 years after the original default date.

Gotcha, cheers Fermi :T

JokerDurden

Well after 5 1/2 years I've finally got my IVA Completion Certificate 28 Oct 10(woop). I've checked Equifax and most of my defaulted loans are now owned by this Max Recovery. Barclays have already updated my record as satisified on a default I had with them. How long should I give this Max Recovery to update the credit record as satisifed before chasing them?

Many thanks for any advice, now trying to repair the damage I've done to my credit history. The light at the end of the tunnel has been reached.

fermi

A month or 2 I would say.

Congrats at finishing the IVA.

coxyboi

read though some of these post,
max recovery seem to be a bit of a pain when it comes to credit records
was in an iva in 2006, had sevel loans n credit but all got to much,
mbna, barclays and woolwich sold the debts on to max-rec
some even after the iva ended, and i thought nothing of it, as i thought it would all sort its self,
but checked my credit the other day max-rec and cabot ltd are showing defaults and listing them as unsettled still, (in 2011)
and the amounts they say i owe seem to be more than when i went into the iva (so gessing they added chages in someware) was paying into the iva for 3years so i gessing if not all was paid at least it would be less!
has any one had any luck dealing with these companys, as i would like to get the amounts changed, and marked as satified,
i know that in nov 2012 they will get deleted, but that long,