1st Credit loan - Is it enforceable?

endora

leehammond wrote: »

Hi,

I have 2 outstanding accounts with 1st Credit which I am trying to get a settlement figure for. Does anyone have any advice to get the best deal?

Also, it has come to my attention that I have been paying 1st Credit for the last 3 years and I don't recall every seeing any signed paperwork. Can anyone help out on where I lay with this? I have looked all over the forum but have only come across threads of people who are just starting out with 1st Credit rather than myself who has being paying for years.

Lastly, they keep trying to force me to up how much I pay a month. Can they do this? Or can I just refuse to up the amount and continue to pay what I originally agreed.

I appreciate any help with these matters.

Thanks

Lee

Yes, send a CCA request and see what they come back with, that's the starting point. Sending out a S18 request is your LEGAL RIGHT, don't let anyone bully you or tell you otherwise. You can carry on paying as usual till you get a reply, then take it from there. They have 12+2 days to respond to a CCA request, if they fail to do so, they are in breach and you can put the account(s) in dispute. This is Statute Law by the way.

If 1st Credit are a DCA rather than the original creditor, there's even more reason to make sure they have paperwork and you should be able to negotiate a better deal if you so wish as they would have paid a fraction of the original amount when they purchased your debt.

Again, don't let the trolls bully you!

antrobus

fatbelly wrote: »

1st credit are a collection agency aren't they?

Yup.They are a "UK leader in debt purchase and collection" and proud winners of the Compliance Team of the Year and Tracing Team of the Year at the "prestigious" Debt Collection Awards. (http://www.1stcreditltd.com/)

Ergo questions of 'enforceability' will have to address the original source of the debt that 1st Credit are now collecting. As in;

fatbelly wrote: »

If these 'accounts' were originally loans or credit cards then you have a right to request a copy of the original agreement under the consumer credit act (but they can comply with this by issuing a reconstituted agreement). You could also use the Data Protection Act...

fatbelly

From the cca

" creditor " means the person providing credit under a
consumer credit agreement or the person to whom his
rights and duties under the agreement have passed by
assignment or operation of law, and in relation to a
prospective consumer credit agreement, includes the
prospective creditor ;

If 1st credit have bought (been assigned) this account, then you can write to them

longleggedhair

opinions4u wrote: »

Have you just recommended a course of action that could seriously damage somebody's credit rating?

Have you established whether or not it's a variable rate secured loan?

Think about what you're saying here. You could just have told somebody to do something that will cost them their house.

Someone should have gone to drama school!

_Andy_

88 miles per hour!!!!!!!!!!