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TTI finance
Lisaellie1
Posts: 20 Forumite
I had a Sainsburys loan which I nolonger have. I got a letter from TTI finance today which is scaring me, quoting the account number I had and saying they have sold and transferred the account. They have no contact phone number. Anyone heard of them?
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Comments
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Hi,
Nothing to be scared of, debts are sold on all the time, although there website appears to be dodgy, its not up to security standards according to my browser.
Is it your only debt, or do you have others ?
Just make your payment arrangement either by letter, or see if you can get on to there website.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 -
TTI SPC normally buy debts that are in IVAs or similar.
Have you ever been in one? When did you last make a payment to this debt?0 -
I got a TRUS DEED last year and my debt went in there. Just surprised to get the letter.0
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Lisaellie1 wrote: »I got a TRUST DEED last year and my debt went in there. Just surprised to get the letter.
What exactly did the letter say, was it just to inform you of the transfer/sale, or did they ask you to pay up ?
If the former, then its just for information purposes, and you do not need to do anything, but if its the latter, write back and inform them that the debt is covered by your trust deed.
Good pick up from Fatbelly there.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 -
They buy debts at an absolute pittance in the hope (frequently correct!) that the IVA will fail. A trust deed is the Scottish equivalent, and they frequently fail.In December 2016, Govan Law Centre, a respected Scottish advice centre said that two firms in Scotland arranging Trust deeds !!!8211; the Scottish equivalent of an IVA !!!8211; had a failure rate of nearly 90%. Mike Dailly, the centre!!!8217;s principal solicitor, said:
For those firms with a high failure rate what is happening is the consumer thinks they are making payments to creditors, but no dividend is ever paid to creditors, with thousands of pounds in each case being charged by the firm as a fee.
As long as your trust deed is current you can ignore the transfer.0 -
They buy debts at an absolute pittance in the hope (frequently correct!) that the IVA will fail. A trust deed is the Scottish equivalent, and they frequently fail.
As long as your trust deed is current you can ignore the transfer.
Akin to ambulance chasing really.
Reforms are needed so these arrangements do not fail in the first place.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
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