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Debt collection agency
Comments
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Hi sourcrates
Sorry to butt into this thread. Just a question. I have credit card debt,whch I am just about managng minimum payments on. The cards go back 20 years or more. Does the credit card act of 1974 mean if I have not signed a credit agreement, then I do not have to pay these debts? Just a bit confused.0 -
merrydance wrote: »Hi sourcrates
Sorry to butt into this thread. Just a question. I have credit card debt,whch I am just about managng minimum payments on. The cards go back 20 years or more. Does the credit card act of 1974 mean if I have not signed a credit agreement, then I do not have to pay these debts? Just a bit confused.
Hi,
Consumer credit act 1974 from the period you describe, requires a signed agreement yes, you should do a CCA request to your lender, did you ever sign an agreement ?
No agreement from a debt that old would more than likely render the account unenforceable.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thanks for the quick reply. Can't remember if I ever signed anything, will wiite the template letter to find out. Can't do any harm can it?0
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After writing the letters in September last year, I got a reply today from Capquest to say that their client Arrow Global have been unable to obtain a copy of the agreement I requested and to contact them to discuss this matter!
Obviously I will not be ringing them but what do I write back? Thank you for any advise/help.0 -
After writing the letters in September last year, I got a reply today from Capquest to say that their client Arrow Global have been unable to obtain a copy of the agreement I requested and to contact them to discuss this matter!
Obviously I will not be ringing them but what do I write back? Thank you for any advise/help.
simply say as you cannot produce a copy of the agreement, then I do not owe you the sums you claim.
and as such any further attempts to chase for money that is not owed will be reported to relevant financial bodies.0 -
After writing the letters in September last year, I got a reply today from Capquest to say that their client Arrow Global have been unable to obtain a copy of the agreement I requested and to contact them to discuss this matter!
Obviously I will not be ringing them but what do I write back? Thank you for any advise/help.
Hi jesmin
You could just as easily sit tight and write nothing back at all. It seems to me there is nothing to discuss through any medium, and you now have it in black and white that they do not have the required paperwork.
Contacting them again won't do you any harm per se, but it may just perpetuate the exchange of correspondence and persuade them that they can eventually badger you into paying.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
You now have an unenforceable credit agreement.
Keep that letter in a safe place incase this crops up in future.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I have carried on paying the £20 DD each month, can i now stop paying, i dont want them knocking on my door!0
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