ACI Acting on behalf of Castle Community Bank

Genie10

Hi all,

Two of my defaulted loans have been sold to ACI, and I’ve set up a small monthly standing order to pay towards them.

ACI are also acting on behalf of Castle Community Bank for a third loan, which has now defaulted but hasn’t been sold to them. I’m wondering whether there’s any reason not to start making small monthly payments towards this one as well, now that it has defaulted.

Is there any advantage to waiting, or is the debt likely to be sold to ACI or another debt purchaser at some point anyway?

Thanks 😊

sourcrates

It really boils down to the type of assignment, when they buy the debt, they assume all enforcement rights from the original creditor.

When they simply act on their behalf, they have no rights to enforcement whatsoever.

If you want to pay them now, and are able to, then there is no reason not too.

The debt may get sold on at some point, then again it may not.

RAS

Castle have featured here. Probably a good idea to set up a payment. And engage to an extent.

Write to them confirming your payment, advising it will increase in future years if possible. And you'll keep them posted once a year. I'm kinda making this up but other poster's experiences suggest they don't react well to radio silence. Although they've also been told off for their responses as well.

Hoping that works for you.

ManyWays

Definitely start paying them.

I know you won a FOS complaint against Zopa, have you complained about Castle and your other loans?

Genie10

https://forums.moneysavingexpert.com/discussion/comment/82106342#Comment_82106342

Hi ManyWays,

Thanks, I’ll start paying them.

I lost my affordability complaints against Castle Community Bank and Abound, but I’ve won the complaints against Zopa, Novuna and Plend.

I’m still waiting to hear about Updraft, who I have three loans with. The FO said the case was taking longer than expected due to some complexities, so I’m hoping I’ll hear from them any day now.