Barclaycard sold to PRA

fatbelly

Debt Camel is your friend in this

https://debtcamel.co.uk/refunds-large-high-cost-loans/

Rob5342

fatbelly said:

Debt Camel is your friend in this

https://debtcamel.co.uk/refunds-large-high-cost-loans/

That site was a huge help to me. It's usual for the iender to reject your complaint so you then need to take it to the FOS. It's a slow process but very  little work on your part, so just keep at it. 

Superkitten76

stek2008 said:

Superkitten76 said:

So with the help of this lovely forum I've been making real inroads into my debt so far - Zopa card irresponsible claim upheld and removed from credit report, Updraft 2 loans irresponsible lending upheld and removed from my credit report, still need to pay them back, but interest removed and not reported so a small win for me.

I am at the point where my other credit cards are defaulting now and I'm getting ready to set up payment plans. One of the first is Barclaycard. This has defaulted and I've now had communication from PRA and so blindly went on the link to set up a payment plan. However having a browse on here this morning I realised I may have acted too quickly! 

My Barclaycard is an old Egg card, which was opened in something like 2003 maybe, the debt sold to PRA is £10k so a good chunk. Should I have asked for the CCA before setting up the repayment plan, as I'm assuming it may be unlikely that it will be produced? I did do PPI claims back in the day for Egg loans and various cards and store cards, so not sure if this will make a difference? 

Sorry to intrude on your thread - but I've been given some advice that I should try and take action against some lenders (Updraft being one) for irresponsible lending. 

I ended up in an obscene amount of debt after a house purchase went crazily wrong (renovations ran to nearly house price!) - but in these dire times Updraft, Admiral and others kept loaning to me... helpful at the time, less so now. 

Can I ask how you managed to win a case of irresponsible lending against Updraft - so far they're basically ignoring me and trying to direct me to their appointed debt collectors (who just keep saying they have proof of debt). 

I am on a debt management plan with Stepchange - but anything to take years off is worth exploring.

Sorry for the delayed response. I basically just used the template letter from debt camel website 

This was what I wrote:

I am complaining about my Updraft loans. You should never have given me these unaffordable loans. My date of birth is xxxThe email address I used for this account was xxx I currently have 2 loans, with 1 settled.

Please confirm the date these loans started, the amount, the interest rate and the monthly repayments. 

You should have seen from credit report that I was in financial difficulty; I was using credit facilities a lot  and I was only making minimum payments. a credit check would have shown that my finances had got worse since the first loan and I had said the first loan was to consolidate debt, but you should have seen that this hadn’t happened.

I am asking for a refund of the interest and any charges I paid, plus statutory interest, and to delete any negative information from my credit record. 

I had a series of loans with them, 3 in total, the first was settled when taking out one of the other 2. their response was to not uphold my complaint about the first and settled loan:

(about the second loan)

I’ve reviewed your credit agreement and we offered you £8,000 at 21.9% over 60 months.

You accepted this offer and the loan was disbursed on the 25th June 2023. Your monthly

contractual repayment is £219.14.

There were still no late payments or delinquencies on your TransUnion file. As I explained in

my response above, we have no reason to believe TransUnion would be incorrect.

At the time of this application, your credit file indicated that your unsecured debt was

£51,958. You had stated that this new loan would be used to pay off your credit cards.. We

observed a payment made to a credit card xxx for £4835.63. However, if the full loan

amount had been used to consolidate further credit card debts, it could have saved you

money on your credit card expenses.

While we can see that lump sum payments were made to your credit cards, indicating that

at least some of the funds were used as you had informed us, we also note that the cards

were never closed, and their balances increased in the months following the issuance of our

loans. This resulted in a rise in your overall indebtedness, which could have been addressed

or queried more thoroughly.

Therefore, I am upholding this element of your complaint.
(about the final loan)

I’ve reviewed your credit agreement and we offered you £10,000, (and a loan fee of £400) at

21.9% over 60 months. You accepted this offer and the loan was disbursed on the 3rd

November 2023. Your monthly contractual repayment is £286.65.

At the time of this application, based on your credit file your unsecured debt was now

£63,890.

There were still no late payments or delinquencies on your TransUnion file. As I explained in

my response above, we have no reason to believe TransUnion would be incorrect.

While we can see that lump sum payments were made to your credit cards, indicating that

at least some of the funds were used as you had informed us, we also note that the cards

were never closed.. This resulted in a rise in your overall indebtedness, which could have

been addressed or queried more thoroughly. .

Therefore, I am upholding this element of your complaint.

Hope this helps

Superkitten76

Superkitten76 said:

Thanks, I've sent off the template letter with the postal order payment so just a waiting game now. I haven't made any payments to PRA yet, but the confirmation of the direct debit set up letter came yesterday, should I cancel the Direct Debit until they respond, the first payment is due 26th March.. 

So PRA have sent me a letter saying as requested they are enclosing the documents I requested, but the letter only contains statements of the account , does this mean they haven't found a CCA or am I just getting my hopes up too early!

ManyWays

Reply saying they havent enclosed the CCA agreement and ask if this was an error or if they cannot provide the agreement, in which case the debt remains unenforceable. 

Superkitten76

ManyWays said:

Reply saying they havent enclosed the CCA agreement and ask if this was an error or if they cannot provide the agreement, in which case the debt remains unenforceable. 

Thanks. The letter arrived Friday, which would have been about day 19 of them having received my request, and I've had an email today saying as discussed in our recent conversation we have put a 14 day hold on your account, so I'm hoping its because its outside of the 21 days to respond and they can't find it still!

RAS

Ignore "days to respond". 

If they find the CCA or a compliant reconstruction they can provide that any time within 6 years before it becomes statute barred.

What's probably best for you is if they give up and sell it on. 

Meantime follow ManyWays' advice.

Superkitten76

I've had an email back today to say that they do have a copy of the agreement and its being sent to me today. How will I know its a compliant agreement, is there anything I need to look for? 

sourcrates

This from the debt camel website:

How can you tell if it is right?

You have to be sent a “true copy” of the agreement – this doesn’t have to be a photocopy of the original agreement.  It must be legible and it must include:

• your name and address when the account was opened;
• the creditor’s name and address when the account was opened;
• the terms and conditions of the account at that time, including the cost of credit (the Annual Percentage Rate), when you have to make payments and your cancellation rights; and
• any other documents that were mentioned in the Terms and Conditions.

It doesn’t have to have your signature on it. Indeed if you opened the account online you may well have signed it “digitally” and there is no document with your physical signature – this is perfectly legal.

If you aren’t sure what you have been sent is correct, you can ask National Debtline about it or you could post about it on the Legal Beagles forum.

Superkitten76

So its been almost 3 months since that email saying they have the agreement and its being sent to me and I've had nothing! All I've had since is a couple of emails saying the period of suspense of collection activity is over and a letter with the usual speel about the debt amount and contacting them to make a plan... do I just continue to ignore them on the basis that they havent sent the information, do I request it again?