DMP Mutual Support Thread - Part 12

Summer12

sourcrates wrote: »

Defaults show for 6 years from date of default.

AP markers can stay for 6 years after the account is repaid.

Depends which will take preference.

Which is what I thought so therefore it would seem better not to make a payment for 5 months get defaulted then start them on the dmp. Hardly encouraging you to start making payments to them. Although I assume they mean full payments rather than £1?!

[Deleted User]

Slytherin wrote: »

Does anyone have experience of dealing with Fredrickson or Westcott? Two of my debts - £3500 to Capital One and £5000 to Barclaycard - have been sold on to these companies. I!!!8217;ve had a letter from Westcott explaining this and a text message and voicemail from Fredrickson (this prompted me to call them or log into FredPay. Did the latter and messaged them about my DMP).

I've had/am having dealings with Wescott. They are OK, no hassle, just the usual communications in the form of annual statements of amounts paid. They took on my 2 MBNA debts in 2014. They're not the quickest to reply to letters though, lots of communications crossing in the post;). I haven't tested them out for amenability to F&Fs yet though, but they were completely helpful and understanding when I dropped to token payments about 8 months ago:j.

Wantingtojustlive

Thank you for your post, I like the way you set it out, just some questions, what addresses do you write too for the ccas, then what info comes back, is it clear if it enforceable or unenforceable, also ,I have done a lot of swapping around to get 0% on credit cards but not really taken any new ones out, had some of them since 2000, and seen a lot of them through takeovers by other credit cards dose this make any difference, I want to follow as I like your info. I joined the all about debt forum but find it hard to follow thanks

Wantingtojustlive

The above post was liking summer12 posts

Slytherin

Thanks, Carboot Crazy. It's good to hear from someone who already deals.

I thought two of my debts had been sold on but it's actually 3. NatWest to Westcot, Capital One to Fredrickson and Barclaycard to Arvato.

sourcrates

Wantingtojustlive wrote: »

Thank you for your post, I like the way you set it out, just some questions, what addresses do you write too for the ccas, then what info comes back, is it clear if it enforceable or unenforceable, also ,I have done a lot of swapping around to get 0% on credit cards but not really taken any new ones out, had some of them since 2000, and seen a lot of them through takeovers by other credit cards dose this make any difference, I want to follow as I like your info. I joined the all about debt forum but find it hard to follow thanks

If the debt is owned or been collected by a debt collector, then you write to them, they have a duty under the consumer credit act to pass your request on to the OC.

If it is still owned by the original creditor, then write to there customer service address.

Your next part of the question is very complex, but in a nutshell, they should be able to send you a copy of the agreement you took out, it does not need to be the exact document, it can be a reconstructed copy, as long as it is legible, and contains your correct details (at the time) and the financial details are correct, then that is acceptable.

Certain different rules apply if your agreement pre dates April 2007, if the debt was a credit card, it must contain what are known as the prescribed terms, for example, the credit limit, the interest rate applicable, how and when to make repayment etc, if those are missing, then the courts have already ruled that such agreements are unenforceable.

Whilst your request is been actioned, the accounts become, temporarily unenforceable, until they respond, they will remain that way if they cannot provide any paperwork at all, or the paperwork they send is deficient in some other way as described above.

sourcrates

Slytherin wrote: »

Thanks, Carboot Crazy. It's good to hear from someone who already deals.

I thought two of my debts had been sold on but it's actually 3. NatWest to Westcot, Capital One to Fredrickson and Barclaycard to Arvato.

Wescot do not buy debts.

They will only be managing the account for NatWest.

From their website:
.
Has Wescot bought my debt?

No, Wescot no longer purchases or owns debts. If an account is being managed by Wescot this does not mean we have bought the debt, it means we are managing recovery of the debt on behalf of the bank/utility company. Once the debt is repaid the account will return to the original company.

Slytherin

Whoa, thanks. I just assumed that once a third party was involved, they owners the debt. Never even considered clarifying that. I'll have a look to see what this means for the other debts

sourcrates

Slytherin wrote: »

Whoa, thanks. I just assumed that once a third party was involved, they owners the debt. Never even considered clarifying that. I'll have a look to see what this means for the other debts

If your accounts have been sold, legally, you must be informed in writing of the assignment.

If you have not been written to, then it’s unlikely they have been sold.

One way to check is if they refer to their client in any letters they send you, if they do, they are just managing the debt.

F19FOX

Hi there. This is my first ever post on here and firstly I wanted to thank all the many excellent posts and contributors that have posted information on here. Although I haven't posted before I have been reading lots of posts.

I wonder if someone could please help me out with a couple of queries that I still have and my apologies if someone has already covered this topic off but I haven't come across it as yet.

I have seven defaulted accounts and having read numerous posts over the past few days am tempted to write to all my creditors to ask for CCAs. My queries are:
1. What are the downsides to requesting this information?
2. As I understand it, if I want to apply for credit in the future (I'm talking about once the defaults have come off my credit file - in my case I have another 4 years to wait) and a lender comes back unable to supply a copy of my CCA then I understand the debt might be UE.. HOWEVER surely I still owe the debt and if I were to apply to a lender then I would have to inform them about any outstanding debts I have irrespective of whether they may be UE or not? So in my mind it is worthwhile settling them (albeit for a lower amount) in order to be able to state that I have no outstanding debts .. and I don't see how ignoring the debt will help me? Please can someone clarify if my thinking is correct or am I missing something?

Thank you