Random letter from Arrow Global

WinstonTown

Hi y'all.

I've had a letter from Arrow Global, and have never seen one like it before.

I'm paraphrasing, but it basically says that under the Consumer Credit Act, they are required to provide me with 'statutory notices within the prescribed timescales to inform you about the status of your account'
It states that they haven't sent me statements between Sept 2012 and May 2018. It also tells me that the debt is now being handled by Capquest.

So my question is: why would they have suddenly decided to send this? Its been nearly six year since they sent me anything - is that significant in any way? I obviously want to pay any debt that I owe, but I'm tempted to wait and see what other comms I get.... what do y'all think?

Cheers
WT

January2015

WinstonTown wrote: »

Hi y'all.

I've had a letter from Arrow Global, and have never seen one like it before.

I'm paraphrasing, but it basically says that under the Consumer Credit Act, they are required to provide me with 'statutory notices within the prescribed timescales to inform you about the status of your account'
It states that they haven't sent me statements between Sept 2012 and May 2018. It also tells me that the debt is now being handled by Capquest.

So my question is: why would they have suddenly decided to send this? Its been nearly six year since they sent me anything - is that significant in any way? I obviously want to pay any debt that I owe, but I'm tempted to wait and see what other comms I get.... what do y'all think?

Cheers
WT

I had the same letter this week and I did a bit of googling. What I found is below:

Section 6 of the Consumer Credit Act 2006 (s77A)
If the creditor fails to give the debtor an annual statement, then he is not entitled to enforce the agreement during the period of his non-compliance, and the debtor is not liable to pay any interest during this period.

The debtor is also not liable to pay any default sum that would have become payable during the period of non-compliance or that would have become payable after the end of that period in connection with a breach of the agreement occurring during that period.

In my case no interest was charged during the period they failed to send me statements so no harm done there, but in order they could enforce the debt if they choose to they have realised their error and started sending statements.

At least that's my interpretation of what's going on :beer:

fatbelly

Yes, I'd wait and see what happens next.

It sounds like you have not been paying anything to this since 2012 at least and so it may already be statute barred (over six years since last acknowledged by payment or in writing).

There's no point paying unenforceable debts, particularly when they belong to a dodgy organisation that has bought it for 1p in the £.

sourcrates

The consumer credit act places certain obligations on creditors that they must follow.

Statements should be sent at least once every 12 months for outstanding credit debts, if they fail to do that, they cannot charge interest for the period of default, nor can they enforce the debt.

I agree with Fatbelly to hang fire here, as it may nearly be statute barred.

WinstonTown

Thanks guys! I!!!8217;ll hold a while and see what happens!

chilloutppl

Did you hear anything back from Arrow I’ve just had the same letter from them in regards to an overdraft i defualted in in 2014.