Thames Credit - Statute barred response

christhesparky_2

Sorry about the long post, but i would appreciate any advice

I sent Thames Credit a statute barred letter last week to which they have responded

"Your reference to the statute of limitations is not relevant, We do of course fully understand Statute but it is very often misinterpreted by debtors and there advisors. We have neverthreatened nor suggested litigation, hence it is repeated the reference to the act is not relevant

There is no legislation that precludes a creditor from legitimately requesting payment of a debt that remains outstanding and due. Indeed we could argue that any debtor who recognises that such a debt exists has a moral obligation to address his resposibility"

The letter then goes on to offer me a 50% reduction if i pay the amount before monday,

But i have not recognised this debt, and it is from 1997,

Any ideas on what to do next?

Cheers Chris

RAS

christhesparky wrote: »

"Your reference to the statute of limitations is not relevant, We do of course fully understand Statute but it is very often misinterpreted by debtors and there advisors. We have neverthreatened nor suggested litigation, hence it is repeated the reference to the act is not relevant

There is no legislation that precludes a creditor from legitimately requesting payment of a debt that remains outstanding and due. Indeed we could argue that any debtor who recognises that such a debt exists has a moral obligation to address his resposibility"

The letter then goes on to offer me a 50% reduction if i pay the amount before monday,

Thames credit special this. See them all the time.

Of course there is no law that precludes a creditor from legitimately requesting payment of a debt that remains outstanding and due.

Unfortunately for Thames Credit, there is no law that permits them to do anything other than ask nicely. If you really really want to pay, that is up to you. If you do not not want to pay, they can do nothing, not make a note on your credit files, take you to court or anything.

Since you have told them to bog off, even this letter breaks the regulations and you should seriously consdier send complaints in to all and sundry, as once you told them you are not paying they should not have contacted you again.

itsnever2lateisit?

They have acknowledged that they cannot enforce this debt, and are now relying on 'your moral responsibility' to pay up, coupled with a 'sweetner' discount. The fact is they paid pennies for this debt, and recovering even half of it gives them a massive profit.

The fact is there is nothing they can do, and there is nothing you HAVE to do.

While I wouldn't encourage anyone to 'run away' from their debt the fact remains that the law is on your side, the debt is and remains forever statute barred, and there is nothing Thames or anyone else can do to force you to pay. If you choose to pay then hat is entirely up to you.

If you dont pay then there will be no notes on your credit file to trash it

fermi

That is admission that the debt is 'Statute Barred'.

You don't need to do anything as 'Thames' are 'stuffed'.

If they continue to press for payment (in contravention of the OFT's guidelines) then you can complain to the OFT, TS, FOS, etc...........

Burlesque_Babe

You are seconds ahead of me RAS, I was just going to post this thread (with some letters in it should they try to contact you again)

http://forums.moneysavingexpert.com/showthread.html?p=6868982&highlight=statute+barred#post6868982

with a similar situation and to say that Thames are trying it on.

RAS

A list of good contacts to whom you can complain formally.

Here are pipk62's list of websites for the organisations .

These addresses are the ones that I have used to find the information that I required, You may want to research pages other than the ones I have linked to, try clicking on the home page if any of these aren't what you wanted.

Office of Fair Trading, Contact page: http://www.oft.gov.uk/contactus

The Information Commissioners Office, Complaints page: http://www.ico.gov.uk/complaints.aspx
(note: I chose to complete and download the .pdf form on Data Protection, which I am also sending to the other offices, with an accompanying letter)

Trading Standards, Central office homepage: http://www.tradingstandards.gov.uk/
-Please note, you can search by inserting the postcode in the top right hand corner, remember to use the postcode of the DCA rather than your own-

Write to the one in Preston, as they are responsible for licensing this mob.

Consumer Credit Association, enquiries page: http://www.ccauk.org/consenquiries.htm

the Financial Ombudsman Service, Contacts page: http://www.financial-ombudsman.org/contact/index.html

Members of parliament list, (as provided by RAS): http://www.parliament.uk/directories/hciolists/clomps.cfm

Larumbelle

Hi Chris

TC are playing games. They are basically saying 'well, we know we can't take you to court, we're just gonna harrass the hell out of you".

Whilst they are still legally allowed to request payment (statute barred debts are technically still there, they just can't be legally enforced), if they carry on requesting payment they will be breaking the OFT code. You can read the full document here: http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Page 13 is the bit you're after.

How about this.

Dear Thames Credit

With reference to your letter dated **/**/****

I am writing to inform you that, as the debt referenced ********* is statute barred, I decline to make payment.

Therefore, I will report any further attempt to claim this debt, by yourself or by any other organisation you appoint, to be in breach of the Office of Fair Trading's debt collection guidance, and will write to both OFT and Trading Standards explaining why I believe you to be unfit to hold a consumer credit license.

Furthermore I will take legal action against yourselves for harrassment contrary to section 40 (1) of the Administration of Justice Act.

Yours Etc.

Larumbelle

bloomin' heck, a million people got in there while I was still writing my reply!

You've got plenty to consider now, Chris

mike.j.smith

Hi Chris,

Like a lot of similar finance companies, Thames Credit buy up old debts from the original creditor after they have exhausted all means possible, bar legal action, to reclaim the money due. They usually stop short of legal action if they realise it would be throwing good money after bad.

That's where companies like Thames Credit step in and buy the debt cheaply in the hope of making a quick profit by threats and intimidation to the debtor. Basically they are scavengers hoping to pick up the pieces if someone falls on hard times and cannot repay the original creditor.

The best course of action is to put the case in writing if you do not recognise the debt or feel that it is Statute Barred. Make it extremely clear that you are not prepared to enter into protracted negotiations, and that any further correspondence will not be entered into, and any further threatening letters will be ignored. If you are certain you don't owe the money, or the debt is Statute Barred, invite them to take legal action if they feel that is the only means by which they will obtain a satisfactory conclusion.

You will normally find that stops the threats and they will then try other ways to obtain money, either by offering a substantial discount, or making you feel it is your obligation to pay, even though they no longer have the power to take legal action.

In the end you will normally find they just give up after realising they have backed a loser. The one thing you must not do is agree to pay a nominal amount, no matter how small. That would be taken as an admission you owed the debt and it would immediately become non Statute Barred and the whole six year period in which they could take action would start all over again.

I'm not a solicitor or a legal advisor, but I do know how these companies operate and I hope this advice has helped in resolving your problem.

Mike

LilacPixie

I would just like to point out that once a debt becomes statutew barred it cannot become unbarred

RAS

mike.j.smith wrote: »

The one thing you must not do is agree to pay a nominal amount, no matter how small. That would be taken as an admission you owed the debt and it would immediately become non Statute Barred and the whole six year period in which they could take action would start all over again.

This is not the case. Once a debt becomes statute barred it remains statute barred for ever.

This is why so many DCAs try to panic people into paying a nominal amount off a debt that will become statuted barred shortly or write a letter; as this does reset the clock and why others try to force very high percentage payments with very short deadlines, in the hope that the debtor does not how the law and coughs up before they have time to find out.