How can I trace original lenders or agreements on debts?

sketchingkari

After a stressful conversation with my husband, it seems he has gotten into a little bit of a mess with some payday lenders, i'm trying to sort through it all for him, but they seem to pass from company to company, each trading under different names, I cannot figure it all out.

Is there a standard letter I can send to each one I have correspondence from asking them to supply details of each individual loan, the payments made against it so far, charges/interest added etc?

Also, is there a letter for this kind of thing, where I can offer a settlement, even though it is lower than they are requesting, some of the charges they have added are ridiculous :eek:

rizla_king

Who is currently chasing? Some may be internal collectors, in which case we might be able to say right away who the original lender was.

happy_bunny_2

Check his credit report. Might help a bit to see the owner (can be a bit confusing) and the default balance.

Unfair charges can be complained against.

Under OFT guidelines, they are obliged to send you a statement when reasonably requested to do so. This should show charges, if not, don't pay til you get one that does, then only if reasonable charges otherwise complain in writing.

Tixy

I'd send the prove it letter to start to any debt collectors.

That will prompt them to provide details of the original debt and therefore who the creditor is. It will also check they have the correct paperwork, notice of assignement etc and that you don't have 2 debt collectors chasing the same debt.

Prove it letter - Letter when you know nothing about about the debt - AKA "Prove it" letter

dinky201

you dont trace it, its up to DCA to prove to you that they are legit.
Most likely the original creditor sold the debt for 10p to the pound, in that case you dont have a contract with the DCA.
If they cant prove it with the real documentation you owe nothing.
you have the right for proof, remember its always an alledged debt, dont say its a debt.
dont phone them, dont agree anything with them unless they can prove the debt with original documentation.