Self managed DMP advice/help??

sourcrates

Again, that`s not an update, its simply continued collection activity.

CRS are only managing the account, it has only been equitably assigned to them, they cannot take legal action as they do not own the debt.

Its all smoke and mirrors to get you to call them.

Doing your research correctly, prevents you panicking every time a collection text/email lands.

If legal action was commenced, your debt would first be passed to a solicitor, who would send you an LBA (letter before action) in the post, a document that allows an agreement to be made, without the need to progress to court, it will come with a 30 day return window, and will clearly state what it is.

Only if you get one of those in the post, should you respond in a timely manner.

Fusion27

https://forums.moneysavingexpert.com/discussion/comment/81957377#Comment_81957377

Thanks. That explains the process to me perfectly as sometimes can be abit confusing.

sourcrates

Yes I agree it can be confusing, as these things are seldom explained to you beforehand.

Debt collectors rely on you not been aware of debt collection practices, civil procedure rules, or the law of property act 1925, which is the law debt assignment stems from.

They use bluff, intimidation, threats of further action etc, most of it is just hot air, with no basis in fact.

Fusion27

Hi another update below,

My creation loan which defaulted back in January had now been bought Perch Capital and is being looked after by ACI who are now asking me to set up payment plan via email? Should I do this?

After checking my credit report on Credit Karma app, this creation loan is nowhere to been seen on report or anything about it? No default shows for this only my Admiral loan?

RAS

Probably been removed from Creations reports and not yet added to Perch or ACI. Wait until it returns.

sourcrates

Said it before, but I`ll say it again, wait until they write to you, emails and texts etc are not to be relied upon.

Your file takes a few months to update when a debt is sold.