Debt advice virgin! Help please!

GeorgeUK

Unless they give you an account number that you can verify as being yours, i would send the prove it letter to them. No point in assuming this is your debt when it might actually not be.

As Fatbelly said, if it is for a current account, then there will not be a credit agreement. You could request a copy of the CCA for the loan if they bring that up, but not the current account. CCA's are off the menu for now.

Right, so the only thing that the 2 accounts have in common is they were both with the same creditor - not financially linked somehow?

I would send the prove it letter to them and see if they have any proof that this is actually your debt and not some other person with the same name.

bluben79_2

Thanks George! The debt will be statute barred in December 2011. If I send a prove it letter and they prove it is my debt (I'm almost certain it is) could I stall them long enough by not awknowledging the debt? How long would the process take?

Thanks again to all posters on this thread.

GeorgeUK

Some companies have the info to hand, others don't - if it is even your debt.

There's no real way to tell how long it will take. If all they have done so far is to state that further recovery action will take place, then i would not do anything right now. If they start saying the MAY take you to court, then i would send the 'prove it' letter. Even if they sent copies of statements etc, this does not restart the SB clock. You need to send something in writing acknowledging the debt before that will happen.

Wait until they write again, then send the prove it letter, then see what their response is, then wait a little longer. That should take a few months to get through and hopefully take you to closer to the SB date. Even if you then need to make payment towards this debt, you may be able to make a reduced F&F settlement offer. After this, it would hopefully be alot closer to December and if the loan account then came up you would restart the whole process. Don't pay anything unless they prove that the debt is yours though.

bluben79_2

Thanks again George your advice has been gratefully received. I'll update the thread when I receive more information. Finally there is a possibilty I may be moving during this process. When I make correspondence with Wescot ie when I send them the prove it letter if I give them my name and new address would this count as me awknoledging the debt or should I just put my new address with no name?

GeorgeUK

If you send the prove it letter with your name and new address, this is not acknowledging the debt - at the top of the prove it letter it will state something like " I do not acknowledge any debt to you or your representatives".

Just make sure that the post office forwards on your mail and it should be okay.

bluben79_2

I'm bumping this thread as I've received a final notice today from Wescot collecting on behalf of Arrow-Global FV-1 inc. for £307 they are threatening a door step collector or court action if payment is not made. Should I take them seriously. I read on another board somebody got quite a few "threatograms" form Wescot, ignored them and hasn't been troubled. Will they chase me for £307? I'd rather pay a token amount monthly than having a debt collector coming to my door (would cause no end of grief with my other half) and the debt will be statute in December/January

All advice greatly appreciated.

Jesthar

Did you send them a 'Prove it' letter yet? If so, did they respond?

bluben79_2

No prove it letter as yet because I'm wondering if they will continue to pursue the debt. I know its mine albeit under a different name (originally with HSBC now with FV1/Arrow Globla) I quite willing to pay it (in installments) but I'm paranoid that the larger debt may follow on after.

fatbelly

bluben79 wrote: »

No prove it letter as yet because I'm wondering if they will continue to pursue the debt. I know its mine albeit under a different name (originally with HSBC now with FV1/Arrow Globla) I quite willing to pay it (in installments) but I'm paranoid that the larger debt may follow on after.

How do you know it's yours? Do they quote the sort code and account numbers that were your HSBC account? Did you receive notification that the debt had been assigned to anyone from HSBC? I'm guessing 'no' and 'no'.

If it is what you think it might be, it's nearly statute barred and so you should not make payments. If it's not what you think, then why would you pay them?

So send the prove-it.