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dmp or iva

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  • I've just looked at my account with them and it looks as if they refunded some interest around £370 so this was a credit, then two weeks later it was added back on - so maybe they thought I made a payment?? 
    Not much point in trying to work this out, it is a gift that helps you so why care what they thought? 
  • tp555
    tp555 Posts: 39 Forumite
    10 Posts
    ManyWays said:
    I've just looked at my account with them and it looks as if they refunded some interest around £370 so this was a credit, then two weeks later it was added back on - so maybe they thought I made a payment?? 
    Not much point in trying to work this out, it is a gift that helps you so why care what they thought? 
    Just hoping they won't change their mind. 
  • tp555
    tp555 Posts: 39 Forumite
    10 Posts
    I'd be really grateful if someone could help - this is the letter I received from Very (Shop Direct) dated 20/9/24 
    sorry if it's too small it basically says 'We have taken the decision to terminate this agreement due to the activity on your account. Your balance of £1894.26 will be cleared and your account will show as partially settled on your credit file. Your account will be closed by 30/11/24. Please do not make any further payments to this account as this may affect the termination date listed above. 
    Then today I got an email from ACI saying 
    'As you know, Shop Direct Finance Company Limited has sold your account to Perch Capital Limited and we, ACI, are servicing your account on their behalf. We're writing to you today to let you know what happens next.You need to repay your outstanding balance of £2,278.88. You can do this by either paying in full or by making monthly or weekly payments. If you are unable to pay in full, regular payments can be made at whatever amount you can afford and sustain on an ongoing basis, until your account is repaid.Most of our customers choose to pay by Direct Debit as it is quick and easy and gives you the added protection of the Direct Debit Guarantee Scheme. The easiest way to set up a Direct Debit is online using our website – just visit www.aciuk.co.uk/form-ddMaking regular, affordable, weekly or monthly payments is the best way to form a repayment habit and begin to improve your credit score.
    Credit reference agency (CRA) reportingOnce you start to make payments, Perch Capital will report this to the Credit Reference Agencies and your credit report will show that your outstanding balance is reducing. This can have a positive impact on your credit score and may be viewed favourably by other lenders. We will also stop contacting you whilst you’re making payments, except for occasionally sending you a statutory notice, statement, or to complete a review of your situation to check that your payments remain affordable and sustainable for you.'

    The difference between the two debt amounts is because Very repaid the interest for August and then charged it again - no idea why. But £2278.88 is the correct amount.
    I have no idea what's going on and haven't received anything in the post from Very saying they've sold it or from ACI saying they've bought it except for the email today. 
    Does anyone have any idea what all this means? Thanks.

     

  • sourcrates
    sourcrates Posts: 30,580 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 5 October 2024 at 9:32AM
    Yep, in a nutshell, Very has sold your debt to Perch Capital, who will write to you in due course.

    It looked originally like they were writing off the debt, but apparently now that is not the case.

    A very sloppy assignment from both companies, I would consider sending a written complaint to Very pointing out that there original comments suggested they were going to write off the debt for commercial reasons, but instead have sold it to a 3rd party.

    Not very professional, easily misunderstood, and as clear as mud, use any or all of those terms as you wish.
    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-letter
  • tp555
    tp555 Posts: 39 Forumite
    10 Posts
    Yep, in a nutshell, Very has sold your debt to Perch Capital, who will write to you in due course.

    It looked originally like they were writing off the debt, but apparently now that is not the case.

    A very sloppy assignment from both companies, I would consider sending a written complaint to Very pointing out that there original comments suggested they were going to write off the debt for commercial reasons, but instead have sold it to a 3rd party.

    Not very professional, easily misunderstood, and as clear as mud, use any or all of those terms as you wish.
    Thanks, I've written to complain to Very and they are investigating it but I don't suppose there's much they can do. Two of my other debts have been sold to Lowell, they were a Virgin credit card and a Novuna loan - and I've just seen they have both been taken off my credit file. Do you think this is because they'll go back on under Lowell's name? Today the Marbles debt has changed to Cabot on my report. I'm getting frequent contact from Lowell and have set up a repayment for the Novuna debt but have waited with the Virgin one as it didn't read as Defaulted on the credit report, although I had a letter saying it would. I'm confused again, sorry.
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