Do i start to pay now?

Rob5342

Superhoopza said:

If a debt is unenforceable, being very basic here, presumably that means you don't have to pay, but if you don't then it still sits on your account beyond 6 years after default as it is not settled. Have I understood correctly?

It means that it can't be enforced in court, so if you stop paying it then there is nothing the creditor can do to make you pay. Debts always drop off your credit report 6 years after the default regardless of anything else.

Emmel

sourcrates said:

Emmel said:

 Largest amount is 15k (2 loans from same company sold and combined) 

Bingo - sold and combined, common tactic when debts are sold, so this debt never existed previously, as it was two separate loan agreements, each with there own agreement paperwork, now they have combined them to create a 3rd loan, you never agreed too, or signed any paperwork for.

As such, there will be no agreement for this loan, no paperwork at all, so if you make a request under section 77/79 CCA, they won`t be able to produce anything, and it will become unenforceable.

Sourcrates, in a letter it has the 1 total but in my online account with them it has 1 total but 2 accounts with each amount. But when I have set up my payment it is only the 1 payment for both. Not a seperate payment for each one. Hope that makes sense

sourcrates

Combining the balance of one debt with another owed by the same debtor, seems to be common practice amongst debt purchasing companies, maybe its easier for them that way, I don`t know.

But it does create a dilemma for them when you take advantage of sec 77/79 CCA.

The requirement is to provide a copy of the original credit agreement for that account, now when you combine two debts, obviously you create a third that did not previously exist, so no paperwork will exist either.

My advice would be to submit a request under sec 77/79 CCA,  include the statutory £1 payment, and see what comes back, template letter here, edit to your circumstances -

CCA Request Letter Example - LegalBeagles

Emmel

sourcrates said:

Combining the balance of one debt with another owed by the same debtor, seems to be common practice amongst debt purchasing companies, maybe its easier for them that way, I don`t know.

But it does create a dilemma for them when you take advantage of sec 77/79 CCA.

The requirement is to provide a copy of the original credit agreement for that account, now when you combine two debts, obviously you create a third that did not previously exist, so no paperwork will exist either.

My advice would be to submit a request under sec 77/79 CCA,  include the statutory £1 payment, and see what comes back, template letter here, edit to your circumstances -

CCA Request Letter Example - LegalBeagles

Shall I do this now? It states the combined total at the top with (2 accounts) in brackets under it then it lists the 2 accounts underneath. But when I received a letter it had the combined amount. Not sure if this is considered a combined debt or not? There is what i presume is a reference number at the side of each account. Thanks for all your help

Sly72

who is the account with?

EssexHebridean

You asked about default dates earlier. If a debt has defaulted, that is its default date - it being sold shouldn’t mean that a new default date is given. 

Emmel

EssexHebridean said:

You asked about default dates earlier. If a debt has defaulted, that is its default date - it being sold shouldn’t mean that a new default date is given. 

What is the protocol regarding having this corrected? Do i send a nicely worded letter/email?

sourcrates

Occasionally when debts are sold, the new owner adds the date the debt was acquired by them as the default date, which is obviously incorrect.

Its a written complaint to the debt purchaser, followed by escalation to the FOS or the ICO (for data protection complaints, which this is) if they don`t put things right.

Emmel

Emmel said:

sourcrates said:

Combining the balance of one debt with another owed by the same debtor, seems to be common practice amongst debt purchasing companies, maybe its easier for them that way, I don`t know.

But it does create a dilemma for them when you take advantage of sec 77/79 CCA.

The requirement is to provide a copy of the original credit agreement for that account, now when you combine two debts, obviously you create a third that did not previously exist, so no paperwork will exist either.

My advice would be to submit a request under sec 77/79 CCA,  include the statutory £1 payment, and see what comes back, template letter here, edit to your circumstances -

CCA Request Letter Example - LegalBeagles

Shall I do this now? It states the combined total at the top with (2 accounts) in brackets under it then it lists the 2 accounts underneath. But when I received a letter it had the combined amount. Not sure if this is considered a combined debt or not? There is what i presume is a reference number at the side of each account. Thanks for all your help

Sourcrates, your advice on this would be most welcomed. Thanks

sourcrates

Emmel said:

Emmel said:

sourcrates said:

Combining the balance of one debt with another owed by the same debtor, seems to be common practice amongst debt purchasing companies, maybe its easier for them that way, I don`t know.

But it does create a dilemma for them when you take advantage of sec 77/79 CCA.

The requirement is to provide a copy of the original credit agreement for that account, now when you combine two debts, obviously you create a third that did not previously exist, so no paperwork will exist either.

My advice would be to submit a request under sec 77/79 CCA,  include the statutory £1 payment, and see what comes back, template letter here, edit to your circumstances -

CCA Request Letter Example - LegalBeagles

Shall I do this now? It states the combined total at the top with (2 accounts) in brackets under it then it lists the 2 accounts underneath. But when I received a letter it had the combined amount. Not sure if this is considered a combined debt or not? There is what i presume is a reference number at the side of each account. Thanks for all your help

Sourcrates, your advice on this would be most welcomed. Thanks

Well suck it and see is all I can tell you really.

If what you say is actually what has happened, then it might get interesting, if not, they supply what they are supposed too and you only lost a quid.