ACI Updraft

Genie10

https://forums.moneysavingexpert.com/discussion/comment/81965983#Comment_81965983

Thanks for that info.

You are correct no such letter has been received!

I will contact ACI & let them know of the dispute and tell them to hold collection activity until it gets resolved.

Many thanks 😀

Genie10

Hi everyone,

As you advised I have contacted ACI & let them know of the dispute and they have given me 60 days breathing space. I have since received the letter from them that was obviously sent before they agreed to hold collection activity. Do you think this is something to worry about? Are they likely to take it court?

Thanks.

"As you are aware, you have an outstanding balance of £16,099.31 which remains without an appropriate repayment arrangement.

Unless you pay this debt in full or begin making payments that are appropriate to your circumstances, we will instruct TM Legal, a firm of Solicitors to recover the outstanding balance via the County Court

If proceedings are issued and a CCJ is granted by the Court, your outstanding balance will increase as County Court Fees and fixed Solicitor's costs will be applied.

Alternatively, we may instruct Verify a specialist reconnection agency. They will conduct an assessment and attend your home address to discuss this matter in person. Verify will work with us to ensure the outstanding balance is recovered."

Grumpelstiltskin

No your contact with them will supersede that letter, don't worry about Verify they are only door knockers, if they do turn up just tell them to go away.

sourcrates

Most of the debt purchasing companies have tame solicitor companies they "work" with, in reality they are mostly all a part of the same firm.

The process follows the civil procedure rules, so the first step towards legal action would likely be a visit from Verify, a tracing agency, who will be engaged to simply tell you to contact your creditor, that`s it really.

If you don`t do that, then ACI would legally assign the debt to TM Legal, who would then send you a "letter before action" this is a document designed so that both you and the creditor can come to an agreement without the need to progress to court, it will have a 30 day return window.

If you fail to respond to that, the next step would be a claim pack, detailing the claim, and giving you a chance to either admit, or defend it, if you didn`t respond to that, then you would get a CCJ by default.

That gives you two opportunities to come to an arrangement, the first one without a CCJ, the second one with.

Currently this is on hold, so nothing else will happen just yet.

Genie10

I think i'm struggling with what to do here because Updraft haven't actually defaulted the loans or sold the debt to ACI. As far as I can work out ACI are just working on Updrafts behalf. If I set up a payment plan it will be with Updraft which means they will never default. Is this correct?

sourcrates

Yes, possibly, but it appears that ACI may have been legally assigned this debt, otherwise they would not be able to take independent legal action.

If ACI believe they have a legally assigned debt, they must follow the rules set out by the FCA and the Tribunals, Courts and enforcement act 2007.

You might want to ask them if they have been assigned the debt equitably, or legally, then you will know won`t you.

 

Genie10

https://forums.moneysavingexpert.com/discussion/comment/81978806#Comment_81978806

I heard back from ACI today who said…

"We can confirm that we are authorised to manage this account on behalf of the original creditor, Fairscore Limited (trading as Updraft).

Please note that this account has not been sold.

Ownership of the debt remains with Fairscore Limited; however, ACI has been instructed to manage and collect the account.

A Notice of Assignment was issued to you on 09 February 2026, which outlines this arrangement."

So I guess they have been legally assigned the debt? What does this actually mean re defaulting & me setting up a payment plan?

Thanks..

sourcrates

No, they state:

"Ownership of the debt remains with Fairscore Limited; however, ACI has been instructed to manage and collect the account".

So they have only been equitably assigned the debt, which as far as I can ascertain means they can only collect the balance, they cannot enforce the creditors rights through the courts.

A legal assignment is made under sec 136 of the law of property act 1925, and would require ACI to purchase the debt in full.

All this points to the conclusion that their threats of legal action are bogus.

Assigning and enforcing debt for debt recovery… | The Sheriffs Office

Genie10

https://forums.moneysavingexpert.com/discussion/comment/81982940#Comment_81982940

Thanks for this Sourcrates!

I will wait to see what they say once the 60 day breathing space is up 😊