Debt Handling idea

kirkbyinfurnesslad_2

Before i go any further i am not selling a service on here or any such like but i wanted to get peoples views on such a service (this is not a board where i post but my background has always been dealing with debt before i got involved in private parking cases etc)

Ok so the concept is this. Mrs jones has a large amount of unsecured debt (could only be unsecured).

I would make an offer to Mrs Jones and say for £60.00 i cant take all the debt of your hands. So no more letters no more phone calls and no more repayments (credit file wouldnt improve but that would be explained).

So the idea is that for a fee all payments could be stopped and and user wouldnt get anything else to their address. It would all (quite legally) be moved to another address (as previously explained, it wouldnt help credit rating), but it would stop every thing else

Thoughts please?

Dont mind people being critical, would rather have honest feedback etc and will happily answer any questions

~Beanie~

How would that work exactly? Debt collectors would soon track Mrs Jones down, surely?

double_mummy

so basically you will provide DCAs with incorrect information

so what happens when a claim form is issued will you pass that on to the customer?

what happens if a company traces the customer through things like the electoral role? and then contacts them again will you refund their money?

kirkbyinfurnesslad_2

double_mummy wrote: »

so basically you will provide DCAs with incorrect information

so what happens when a claim form is issued will you pass that on to the customer?

what happens if a company traces the customer through things like the electoral role? and then contacts them again will you refund their money?

Well its not incorrect information it would be a c/o address. We would contact the DCA in question ie lowells, saying the debt is denied (for example)

With regards to the last point then yes totally.

kirkbyinfurnesslad_2

~Beanie~ wrote: »

How would that work exactly? Debt collectors would soon track Mrs Jones down, surely?

Not if they were writing to mrs jones at 124 high street

I am just trying to get peoples view of this, pitfalls, comments etc

Its just a concept .

double_mummy

are you aware of how DCAs actually work?

if you provide a C/O address and they get no response or someone sends the letters back then it wont take them long to trace the customer

secondly you didnt answer about whether things like a claim form from the court would be passed on to the customer

so you would dispute the debt? how would you do this? what would you do if the DCA can provide the correct documentation?

kirkbyinfurnesslad_2

double_mummy wrote: »

are you aware of how DCAs actually work?

if you provide a C/O address and they get no response or someone sends the letters back then it wont take them long to trace the customer

secondly you didnt answer about whether things like a claim form from the court would be passed on to the customer

so you would dispute the debt? how would you do this? what would you do if the DCA can provide the correct documentation?

I am certainly aware of how the likes or Robbers way , bcw work, fishing trips, so called postcards from a mr brown, who will be calling in at 8am that day.

I am aware that with no contact a dca will search experian for forward and back addresses,

As I said Debt stuff used to be my bag mainly.

Most cases that are with DCA's especially those that are secondary and tertiary debts, are not followed up with a court claim. The are of course exceptions.

Arrow Global, Lowell issuing Stat demands, which they did constantly a few years ago

Maybe i am a bit out of date with regards to unenforceable debts etc, but i am quite versed at challenging a DCA's right to claim

You do however make a valid point about court claims. This could be negated i suppose by only taking on certain cases, but it is certainly food for thought

kirkbyinfurnesslad_2

If its a non starter then so be it

double_mummy

the other issue is going to be how much is it actually going to cost you?

to take customers details about half an hour fire off a CCA request that will cost £1 and time to write the letter. the cost of sending it recorded delivery about £1.70. plus time to post. then time to review any documentation that is returned - 1 hour. ensuring secure storage of data, updating records. opening and sorting mail. letters of authority to deal with your customers account with the DCAs

is it actually going to make you a profit?

kirkbyinfurnesslad_2

Secure storage of data, ICO registration has already been thought about, crm system would be in place.

But i take your point about the level of profit and the the work involved,

As said its just a concept and sometimes you need other peoples views to give you a non rose tinted view of it.

Looking at it from the outside it would actually be very good for some people *if* it worked

double_mummy

i dont think it would actually benefit anyone tbh it would be better to refer people to someone like stepchange or one of the other people who offer free advice

i dont think there is a profit there to be honest with you