Opos/Minicredit debt query

bighairyferret

I have recently received a 'statement' from Opos/Kapama stating it is a legal requirement for them so they can enforce the debt in the future.

Firstly, is that actually true?
Secondly, and perhaps more importantly, it is the amounts and what they are for that have me perplexed and very annoyed.
They state the loan amount was for £100, the interest charges are £120, debt collection charge is £100, 2 default charges (1 of £25, 1 of £50) and attempt charges of £405!!

Is any of that actually legally enforceable? What is/are attempt charges?

I did owe the original debt and have never been in a position to pay it off. Then this arrives. The original debt was a number of years ago. I wish to clear the debt, but do not want to be paying £700 on top of the original loan. I accept some of this maybe enforceable, but surely all £800 cannot be?

Any help/advice greatly appreciated.

sourcrates

Its a legal requirement to send statements at least once a year yes.

Your going to have to give us more detail about the debt, for example how old is it, what type of debt is it, has legal action already been taken against you, the more detail the better the answer you will get.

National_Debtline

Hi there,


If Minicredit was the original lender, then they should be regulated by the Consumer Credit Act, and part of that would mean sending a statement every 6 months regarding the debt (how much is owing, interest etc). It is understandable that this statement has caused annoyance with regard to these charges and you will need to check a few details to see if this is all enforceable.


First of all, if you still have the original agreement, then you need to check the terms and conditions regarding charges. The FCA has introduced a cap on the charges and interest that short term lenders can add, however, whether or not this can be applied to your situation may depend on when you took it out. You could potentially raise a complaint either way, and there is information available on our website about this process to try and help you - https://www.nationaldebtline.org/EW/factsheets/Pages/payday-loans/payday-loan-debt.aspx Best of luck,


Laura
@natdebtline

bighairyferret

sourcrates wrote: »

Its a legal requirement to send statements at least once a year yes.

Your going to have to give us more detail about the debt, for example how old is it, what type of debt is it, has legal action already been taken against you, the more detail the better the answer you will get.

So far they are the only DCA that has ever sent out a yearly statement. How does that the in with statute barring legislation?

It was a payday loan taken out on or before July 2013. As far as I am aware there has been no legal action against me. Apart from the initial info in the OP that's all I can tell you or anyone else.

More concerned so far that no one has managed to answer what the attempt charges of £405 are?! As that makes up half the debt. But thank you for the initial replies so far.

sourcrates

It has a year to go before it becomes statute barred, only action by you affects the limitations period.

You have a choice here, either wait and hope it goes statute barred before they take further action, or you can challenge the amount they say you owe, demand a break down of the costs, find out what has happened here.

That would re-set the limitations clock though.

bighairyferret

sourcrates wrote: »

It has a year to go before it becomes statute barred, only action by you affects the limitations period.

You have a choice here, either wait and hope it goes statute barred before they take further action, or you can challenge the amount they say you owe, demand a break down of the costs, find out what has happened here.

That would re-set the limitations clock though.

Statute barring doesn't clear the debt though does it? So will always show on any credit report. But thank you for the advice.

National_Debtline

Hello again,


Under the limitations act a debt becomes statute barred if there has been a period of 6 years or more, since the debt fell due, with no written acknowledgment or payment from you (the debtor) and no court action started by the creditor. The debt falls due from the last payment, the last expected payment, or the last written acknowledgement - whichever is the later.


As this was taken out before January 2015, the FCA cap on interest and charges is unlikely to apply. You can still raise a complaint, ask them to justify their charges and raise a dispute, but please be aware that would be considered a written acknowledgement of the debt and restart the 6 year limitation period.


A debt shows on your credit file for 6 years from the date of default, and/or judgement if a CCJ is obtained. Ignoring this at this stage could be a risky strategy, as they do still have time to go through the courts, and if they do the debt could increase through further costs.


Laura
@natdebtline

sourcrates

bighairyferret wrote: »

Statute barring doesn't clear the debt though does it? So will always show on any credit report. But thank you for the advice.

Nothing will show on your credit report for longer than 6 years unless the account is still open and used.

Every 6 years your bad debt is expunged.

But ignoring it now is a risky strategy, written compliant would be my choice. :cool:

bighairyferret

Thanks to you both. I will write to them and put a complaint in for them to break down the charges and to send me a copy of the original agreement. Most useful advice.

bighairyferret

Agent16f wrote: »

I would look for the prove it template letter and edit it to suit, so as you are not acknowledging the debt in any way to get more of an insight into what they have before arguing the charges.

My only problem is I cannot remember IF I have ever acknowledged the debt or not. I have sent off a complaint letter asking for all docs relating to the debt and a breakdown of the interest and charges.

But many thanks

sourcrates

bighairyferret wrote: »

My only problem is I cannot remember IF I have ever acknowledged the debt or not. I have sent off a complaint letter asking for all docs relating to the debt and a breakdown of the interest and charges.

But many thanks

They probably don't know if you have either.


Remember the onus is on them to prove liability, you don`t have to prove anything.