DMP mutual support thread part 13 !!

Fellalis89

sourcrates said:

It`s a difficult one, debts are occasionally farmed out to collection agents to manage on a creditors behalf, but Arrow Global are a debt buyer, what is their involvement here, are you certain the debt hasn`t been sold ?

Hey Sourcrates, I recevied a letter from Virgin yesterday advising that my account has been transferred to Arrow and that the balance is now owed to them. Inside this letter from Virgin was one from Arrow stating the account has been assigned to Arrow and that Moorcroft work on behalf of Arrow, and will be managing my count. I got the letters from Moorcroft/Arrow before I received one from Virgin and Arrow. Does this mean it has been sold on? There is a box on the letter from Arrow that does say sold. So I will request a CCA.

Virgin haven't defaulted my account so I have used an example letter you shared a while ago to request a default be added as I have missed payments for the last 10 months. Is this correct? Only the creditor can add the default and not the DCA's?

Fellalis89

Also, regarding CCA responses what is it I am looking for in the response? I have received one and it says that they are "still processing my request and have contacted the original lender for the relevant information. Until we're able to provide this information, your account is unenforceable". Do I need to give them more time for a response from the original creditor or is this unenforceable and I should offer them a small payment to close the account?

sourcrates

Fellalis89 said:

sourcrates said:

It`s a difficult one, debts are occasionally farmed out to collection agents to manage on a creditors behalf, but Arrow Global are a debt buyer, what is their involvement here, are you certain the debt hasn`t been sold ?

Hey Sourcrates, I recevied a letter from Virgin yesterday advising that my account has been transferred to Arrow and that the balance is now owed to them. Inside this letter from Virgin was one from Arrow stating the account has been assigned to Arrow and that Moorcroft work on behalf of Arrow, and will be managing my count. I got the letters from Moorcroft/Arrow before I received one from Virgin and Arrow. Does this mean it has been sold on? There is a box on the letter from Arrow that does say sold. So I will request a CCA.

Virgin haven't defaulted my account so I have used an example letter you shared a while ago to request a default be added as I have missed payments for the last 10 months. Is this correct? Only the creditor can add the default and not the DCA's?

The debt has been sold to Arrow Global, in turn they have requested Moorcroft to collect the debt on their behalf, the new owner (Arrow) inherits all rights and obligations of the original lender, but yes, Virgin should have defaulted you months ago, so I'd complain, yes.

sourcrates

Fellalis89 said:

Also, regarding CCA responses what is it I am looking for in the response? I have received one and it says that they are "still processing my request and have contacted the original lender for the relevant information. Until we're able to provide this information, your account is unenforceable". Do I need to give them more time for a response from the original creditor or is this unenforceable and I should offer them a small payment to close the account?

Yes you may need to wait a while longer, if the original paperwork still exists, it exists with the original creditor, it never leaves them unless they delete it, so they either have to find it, or reconstitute a copy from information they already hold on you.

The account remains (temporarily) unenforceable until they do respond, however long that may be, if they can`t produce what they are supposed too, they should write and tell you so.

Its quite a lengthy subject, and Debt Camel covers it nicely here -

Debts - why, how & when to ask for the CCA agreement · Debt Camel

Fellalis89

sourcrates said:

Yes you may need to wait a while longer, if the original paperwork still exists, it exists with the original creditor, it never leaves them unless they delete it, so they either have to find it, or reconstitute a copy from information they already hold on you.

The account remains (temporarily) unenforceable until they do respond, however long that may be, if they can`t produce what they are supposed too, they should write and tell you so.

Its quite a lengthy subject, and Debt Camel covers it nicely here -

Debts - why, how & when to ask for the CCA agreement · Debt Camel

Amazing, thank you sourcrates for your responses! The link has cleared it up, I'll save it for future reference. Regarding the default, if they reject it as I've seen it mentioned in previous posts, how do you fight it? Just wanted to be prepared for all outcomes  

sourcrates

Fellalis89 said:

sourcrates said:

Yes you may need to wait a while longer, if the original paperwork still exists, it exists with the original creditor, it never leaves them unless they delete it, so they either have to find it, or reconstitute a copy from information they already hold on you.

The account remains (temporarily) unenforceable until they do respond, however long that may be, if they can`t produce what they are supposed too, they should write and tell you so.

Its quite a lengthy subject, and Debt Camel covers it nicely here -

Debts - why, how & when to ask for the CCA agreement · Debt Camel

Amazing, thank you sourcrates for your responses! The link has cleared it up, I'll save it for future reference. Regarding the default, if they reject it as I've seen it mentioned in previous posts, how do you fight it? Just wanted to be prepared for all outcomes  

You quote guidance, which states accounts should be defaulted after between 3/6 missed payments.

If its rejected, you go to the ombudsman.

nadeembutt786

Hi all, im looking at using stepchangeto manage a DMP and wanted to ask some questions. I have read a few posts and it says that i need to open a new bank account which is fine as i have had a starling account for some years now and use it for paying some bills but my question is, do i just get my salary paid into the new account or do i do a complete switch over which takes over all the Direct Debits and then only  cancel the ones i need to once the DMP kicks in?

apologies if the question doesnt make sense..

sourcrates

nadeembutt786 said:

Hi all, im looking at using stepchangeto manage a DMP and wanted to ask some questions. I have read a few posts and it says that i need to open a new bank account which is fine as i have had a starling account for some years now and use it for paying some bills but my question is, do i just get my salary paid into the new account or do i do a complete switch over which takes over all the Direct Debits and then only  cancel the ones i need to once the DMP kicks in?

apologies if the question doesnt make sense..

Never bank where you have debts, if you don`t owe your bank any money, or any of its subsidiaries, then your fine to keep on using your account.

If you do owe them money, then no, don`t switch, open a new basic bank account with a bank not associated with any of your creditors.

GIB91

Hi,

I’m considering a DMP. Can anyone advise the pros and cons? I have £35,000 worth of unsecured debt between 5 personal loans and 1 credit card. Currently haven’t missed any payments but just can’t afford this anymore and need a solution. StepChange have advised a DMP with my current situation which comes in at £185 per month for 16 years (I’m hoping to find a solution to sort it before then, but this will hopefully allow me some breathing space).

A few questions:-

1. One of my loans is with who I have my mortgage is with. It’s due for renewal in April and I’ll stay with the same lender. Should this cause an issue?

2. One of my loans is with my main bank account, as is the credit card. My joint account is on this account too which I use for all household bills. Should I keep this bank account for my main banking? Personally I don’t want to have to move the joint account as I don’t want to get into this with my partner. It’s my fault and my issue though and I need to deal with it.

3. Am I likely to be harassed with phone calls and letters? Are they best off ignored? I’ve deleted my direct debits for the time being.

Any other info would be appreciated.

Onebrokelady

Hi 
I did my budget review with SC today and its now shown that I can't pay my monthly payment because at the moment my outgoings are more the my income. The lady has stopped my payment for next month to give me time to sort things out but warmed me that my creditors might start applying interest to my accounts again. All my debts are with PRA and not my original creditors so are they likely to restart interest in this case.

My situation at the moment is that my finances are going to change slightly within the next month or two when my daughter moves out. I can then reduce my council tax by claiming single persons living allowance and my bills will go down due to there only being me living here. I've also been told I will be able to claim universal credit so this will help 

I'm just worried about them adding interest