Arrow Global cant find any documents default

TC18

Hi I dont know if this is the right section about defaults and to get my debt written off.

anyways if anyone could help, il give you a very brief background..

I had a debt with Very which got bought by Arrow global who passed it to moorecroft.

I have been paying £80 a month for the past year and a half but back in July 2012 I wrote to Arrow global to provide me with any paper work they have to prove I owe this debt and a copy of the default they sent me (they or very never sent any default notice).

From what i saw of it they never even informed me they took over the debt and this company just put a default on my account without infroming me.

Anyway due to work commitments and being out of the country a lot with work i totally forgot about the letter i sent but sat down today to write another, but the postman turned up with my reply today (how odd?!).

Their reply was dated the 22nd November so its taken this long for a reply!! the letter is very basic and ses the following..

'We are unable at this time, to obtain a copy of our clients consumer credit agreement from the originating creditor. we confirm this account will not be subject of collecting activity until such time as the document becomes available and we will provide your client with a copy of the same.'

well they have had since July to find any documents and haven't been able to produce any.

now does this mean they are not going to chase me for money but if they find any document they will?

like i have said they have had 4 months to find something, so have i got to have this hanging over me for years? and am i correct in thinking as they dont have any documentation they cant possibly put a default on my credit file.

and one final question shall i be asking for the payments ive been making to them in the past year and a half to be refunded?

sorry for it being so long and poor grammar.

any help would be greatly appreciated

beanielou

My reading of what you have said is that they are not going to chase you for money unless they find the paperwork.
As to the default on credit file my thinking would be no default but I really dont know.
No harm in asking for payments back but no idea how that will go!!

TC18

thanks for your reply.

tbh i was a little shocked by it all coming out of the blue 4 months after sending a letter.

i just want the default off my file as i was never given paperwork or any such warning.

Don't know what to do next apart from contacting credit exert to see if they can remove it.

eyeopener2

The thing is you do still owe the money, but they cant force you to pay it back. That is a major result in my view.

The debt is not written off, it just sits there until it drops off your credit file.

Remember though that they can come up with the goods at anytime so rather than rock the boat I would thank my lucky stars.

The default will stay there as it is genuine, you admit as much that you do owe it, so just let sleeping dogs lie and hope you got away with it.

Also the chances of getting any money back are zero.

Could I ask how old this debt is?

TC18

not quite sure how old the debt is, these are the dates i have from credit expert,

VERY started 05/10/2009 settled 02/04/2011

then

Arrow Global started 31/03/2009 default date 13/09/2011

ive not missed a single payment to arrow global but they have never updated my file correctly and often leave out payments and when they do update it, make it look like ive skipped a month or two of paying.

I would happily pay them back each month if they wasn't so vile to me at the start threatening to leave me and my child homeless etc.

i would continue paying as well if they just remove the default from my file as i was never served with a notice and never given the chance to pay them before they put it on!

I am thinking of sending a letter along the lines of.. i will continue to make my monthly payments if you agree that you will remove the default, after all they admitted they never sent me one.

EDIT: after reading the dates on my credit file i dont quite understand it? ive not had an arrow global account back in 2009 and it starts before the VERY account :S

eyeopener2

Are you sure Arrow havent sent you a default notice? or very when you first started missing payments?

If you are sure they havent send a subject access request to very and arrow that will give you all the info they hold on you. It will cost you £10 fir each report but you will know exactly where you stand.

Personally i would leave it and move on.

fermi

A debt purchaser does not usually issue a default notice etc themselves. The original creditor does that, and the debt collector then has the record changed so the default is then under their name when the debt is sold to them.

https://forums.moneysavingexpert.com/discussion/3172602

The ‘sale’ or assignment of debts on defaulted accounts

52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.

53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned. The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.

54 Where the purchaser of the debt does not agree to take control of the record, the original lender, and at least in part the credit reference agency, will remain responsible if the original record is kept on the file. When the debt is sold or assigned, the customer will no longer owe any money to the original lender. If the record is not removed, the sale or assignment should be recorded and the balance should be shown as zero. The customer should still be told who the debt has been sold or assigned to.

fermi

However, it does look as if Arrow have done their usual con job on the default dates.

They should just re-record the default with the same original date.

But what Arrow usually do is falsely change the default date to the date they purchase the debt. That can be a matter of a few months wrong, but in some cases that can be years out, false extending the time the debt is on your credit report. A deceptive practice and a breach of DPA principles/Act.

TC18

thanks for your replies..

Im 100% certain i never got anything off arrow or very telling me anything about a default.

In fact this is the first letter i have ever had from them!

i really should just leave it alone but the default of £800 has seriously damaged my credit report. I'm now in a well paid, stable job, and have cleared all my debts over the past year with 0 late payments and want to buy a house and a half decent car (not one that keeps needing work ) but i cant even get a high interest credit card because of it. i shall do as you suggest and request a SAR.

thanks again for your help

TC18

fermi wrote: »

However, it does look as if Arrow have done their usual con job on the default dates.

They should just re-record the default with the same original date.

But what Arrow usually do is falsely change the default date to the date they purchase the debt. That can be a matter of a few months wrong, but in some cases that can be years out, false extending the time the debt is on your credit report. A deceptive practice and a breach of DPA principles/Act.

thanks for your above information!

I should just pay it off as i dont want them coming back in 3 years time demanding more money and a fresh default on my account.

gonna try the softly softly approach and agree to continuing paying them (when they atm cant enforce the debt ) as long as they agree to remove the default

eyeopener2

Thats not a bad plan, they are money grabbing hounds so they may agree. Watch em though. As you know, they are vile ( which is a great word and not used enough where DCAs are concerned).

please let us know how you get on.