Closed account now with a DCA

Elsie2_2

natweststaffmember wrote: »

THe fact that the amount of your debt is being reduced should be a good thing. THe likelyhood is that an account is still open in your name to accept credits only until the balance clears the loan. How much is left on the loan?

The balance is around £13000 and they are offering full payment claimed of £1200. Not gonna make a huge dent in the overall balance, but would be a lifesaver for me at the moment.

I didn't think they could force you to pay money off the debt as i have other things i could do with paying first. I am maintaining the payments agreed and have not missed one since set up with the DMC, and i really could do with the money.

HelpDee

I am curious to know if I can claim back Charges I defaulted on from my credit cards and store cards, even if they have transferred the balance I owe to Collection Agencies?

If the answer is yes, would they use my payout to clear of my balance?

Thanks for your response guys!!

natweststaffmember

My understanding is that providing the amount you were defaulted is lower than the charges you are claiming then you can claim charges and the removal of the default. You can claim store card charges back, they are not part of the test case.

k1mmie

This really scuppers me now. I had a claim going through (6 weeks into the 8 weeks wait) and I had informed the DCA that this would be used towards the balance. Had £4900 outstanding and was claiming £3200 back. So was a huge chunk. Where does this leave me now? I can't afford this any other way??????????

ginny_blackpool

Hi guys,

I have been made an offer from HSBC before all this was suspended, They have made me an offer but with the condition that it is settled off an old loan that I still have outstanding with them. This loan was sold on by HSBC to another debt company in 2005. they said they will send the cheque to the company who now has the debt, I now have the option of waiting to accept after the OFT have made a ruling or just accepting their offer as it stands. Can they lawfully do this as the charges they took off me were for my current account and nothing to do with my loan account. Should I accept or wait.......at the end of the day I have nothing to lose in my current situation.

pipk62

Thanks for that post, I have just been asked the same question!

Badger_Lady

I'm not sure I know exactly what you're asking, but this might help...

My recent claim with HSBC was for an old joint account that the bank had closed and had assigned to a collection agency for the outstanding overdraft. Since my ex had built up the overdraft, he started a standing order of £10 a month or something to gradually repay the debt.

I completely ignored this fact and went through the standard procedure to reclaim charges on the account. HSBC settled for the full amount.

They haven't paid me yet, but I don't think they can apply it to the bank account because it is closed. I assume they will send me a cheque... but I will then use a portion of that money to pay off the outstanding debt because it shows as a default on my credit history and needs to be disposed of!

Does that help???

poorhardworker

Hope someone can help

Today I recieved a letter from Red Debt collection services asking for £497.16.

The original creditor is mentioned as First Direct, however in the letter it states "we have been appointed duly authorised collection agency for Lowell Portfolio Ltd and instructed to recover the outstanding monies due to our client."

I am a little confused
1. I dont know of the debt
2. Dont know who is who
3. Dont know what to do????

So if someone can please point me in the right direction.

Appreciated in advance

Edinburghlass_2

Badger_Lady wrote: »

They haven't paid me yet, but I don't think they can apply it to the bank account because it is closed. I assume they will send me a cheque... but I will then use a portion of that money to pay off the outstanding debt because it shows as a default on my credit history and needs to be disposed of!

Does that help???

Just to point out that they can in fact open an account to credit the amount and then close again so you may only get a cheque for the remainder once the debt has been paid.

Edinburghlass_2

poorhardworker wrote: »

Hope someone can help

Today I recieved a letter from Red Debt collection services asking for £497.16.

The original creditor is mentioned as First Direct, however in the letter it states "we have been appointed duly authorised collection agency for Lowell Portfolio Ltd and instructed to recover the outstanding monies due to our client."

I am a little confused
1. I dont know of the debt
2. Dont know who is who
3. Dont know what to do????

So if someone can please point me in the right direction.

Appreciated in advance

A quick Google of Red Debt Collection brings up this article...

http://observer.guardian.co.uk/cash/story/0,,2093946,00.html

Could it be someone who was previously at your address, do you have any debt held by First Direct or even a bank account with them?