Bank Debt Over 9 Years

LINDYDAWN

Hi
I have a debt with Nat West Bank that occured 9 years ago that my ex husband managed to run up problem been the account was in my name, initially after they had added a lot of money in interest I went to the CAB for help along with a few other debts he managed to leave me with (all in my name) he could never get credit fool that I was. However I ended up paying a token payment of 1.00 for a long time then when things improved I paid 10.00 a month the debt got passed on to another DCA during the time and I continued to pay until Jan of this year when I wrote to the DCA called Intrim Justitia and asked for a statement, nothing was heard from them so I stopped paying, nothing was heard till this week when I got a letter form another DCA called First Direct who have taken over this debt, they asked if i could pay in full, which I answered no and I explained that I had asked the previous company for a statement which was never provided, First Direct can not provide me with this info either but gave me a number to contact Nat West Debt Dept, on doing this I asked for statement to go back to the start of the debt so that I could trace payments made, interest applied, they can only send me the last 6 yrs according to them. The DCA want me to set up direct debit to pay back in instalments which I will once sorted I plan to offer 10.00 a month like I was paying the other DCA. Can any one tell me if they have had a situation similar to this what annoys me is a lot of this debt is run up by the bank adding interest. Can any one advise any thing on this situ, the annoying fact is it wasnt me being careless intially that got me in this situ just trusting my ex, I have read about statue barred but because I have been paying I realise that does nt apply to me . Any info would be really gratefully received the amount outstanding is 5440.00 Thanks:o

poorandindenial

Hi LINDYDAWN

Hopefully someone that has been there will be along soon

In the interim try giving National Debtline a call. They may be able to advice you about getting charges and interest suspended. https://www.nationaldebtline.co.uk - they won't charge you for helping you. They also have a whole load of template letters on their website as well as lots of fact sheets.

All the best getting this sorted out.

GeorgeUK

Hi LD

Sorry to hear about the deadbeat. Hopefully we'll be able to sort this for you.

As you say, the debt isn't statute barred as there hasn't been a period of 6 years where no payment has been made. That said, i now have a few questions.

What was the debt for? CC / overdraft / loan?
Who was the original creditor and who is now chasing you for payment?

LINDYDAWN

Hi George UK

Thank you for taking the time to read my post most grateful.

The debt was originally accrued by a structured loan that was paid into my current account in the Nat West Bank.

The first company I paid the debt to was a company called Paylink, who I understood were part of the Nat West, then I think it was moved to a DCA called RMS, then it moved to Interim Justitia, who up until Jan 2008 I was paying 10.00 per month, when I wrote for a up to date statement and heard nothing I stopped paying.

Then the next thing was a letter last week from a company called Lewis Russell & Partners who are working so they tell me for First Direct DCA, they contacted me to set up a repayment method, but I did explain that until I had received an up to date statement of all payment, interest added I would not be offering any thing they said they will hold off for 7 days until I get the info from Nat West and I have had chance to look at it.This info has been requested by me to a girl at the Nat West Debt Dept --- still waiting:rolleyes:

I am now married to a decent guy who knows about this debt from the past and the fact I have been paying , What i want to know if this turns nasty will they be able to drag him in to this? Any advice on any of the above would be gratefullly received, I do want to sort this out but I am annoyed that alot of the monies paid so far seem only to have paid the interest they added when it first went into a debt. Alos the fact that I am only in this position because of a deceitfull ex husband

My long term plans - I have done a budget sheet I plan to offer them 10.00 per month like before

Can they force me to pay more? How do I stand with all this after such a long time? I have paid these payments for so long and just tried to forget about this, but it has come back to haunt me again.

Once again thankyou to any one who takes the time to read this and offer me any suggestions

Gratefull Thanks

LINDYDAWN:embarasse

GeorgeUK

First, i would forget about Natwest. They seem to have sold the debt on long ago. The first thing i would do is request a copy of the credit agreement, notice of asignment and statement of accounts from whoever is requesting payment now. They will have 12 working days to provide the CCA and statements or the debt will become unenforcable (without a court order).

The debt could eventually become statute barred, but that looks like it's still another 57 months away. What you are wanting here is for them to provide proof that the debt is yours, that they have the authority to request payment of the debt and you want the statement to see how much the debt is.

If they provide all 3, then you can write and arrange repayment of the debt as you originally requested. They will probably try to get you to pay more, but you should only pay what you can afford. If they threaten to take you to court, the court would originally want you to come to an agreement before, but would probably allocate a fair repayment amount. If the court finds that you had offerred a fair repayment plan and it had been turned down, it would not look good on the DCA - also, they have a legal duty to provide the CCA on request (and £1 payment) so if this is also not provided will be bad for them.

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If the DCA fails to provide the CCA, the debt is unenforcable, but there have been cases where they have still gone to court to get the debt paid. It's not a silver bullet. This is however probably the quickest way of getting the statement of account - and make sure you check this to ensure all your payments are there.

It may be possible to offer a Full and Final Settlement. Some people offer 30%-50% which is sometimes accepted. This may be something to consider too.

LINDYDAWN

Hi GeorgeUK

I am on with the letter you suggested now it will be posted today, however when I did speak with the company collecting the debt now they did say they had nothing to send me like a statement or anything they only knew the amount outstanding that is why they asked me to contact the bank myself for statements, incidently the company collecting now did ask who I was paying the last lot of money to, should they not know this if they bought the debt of them? Will keep you informed how I get on:o

Once again thank you:T LD

GeorgeUK

When writing to a DCA, NEVER sign the letter. You should not be running around after them because they don't know the details of the debts they are collecting. The Consumer Credit Act 1974 states that you should be provided a copy of both the CCA and a statement of account. It doesn't mention anything about... if they can find it.

http://forums.moneysavingexpert.com/showpost.html?p=1226844&postcount=10

LINDYDAWN

Hi George UK

Have sent the letter, not signed, will await the outcome and let you know

LINDYDAWN

LINDYDAWN

Hi GeorgeUK

nothing heard so far form the bank or the DCA ???? may be a little to soon , but it is over a week since I contacted the bank for the info ?

LINDYDAWN

Hi GeorgeUK

still nothing from the DCA no phone call at all what do you think?:rolleyes:

stevemLS

Hi

As somebody else said, this is not a silver bullet. The debt is only unenforceable whilst the creditor remains in default of providing the information required by the Act. You said it was a structured loan so I think it will be s77 that applies which says:

77.— Duty to give information to debtor under fixed-sum credit agreement.
(1) The creditor under a regulated agreement for fixed-sum credit, within the prescribed period after receiving a request in writing to that effect from the debtor and payment of a fee of £1, shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it, together with a statement signed by or on behalf of the creditor showing, according to the information to which it is practicable for him to refer,—
(a) the total sum paid under the agreement by the debtor;
(b) the total sum which has become payable under the agreement by the debtor but remains unpaid, and the various amounts comprised in that total sum, with the date when each became due; and
(c) the total sum which is to become payable under the agreement by the debtor, and the various amounts comprised in that total sum, with the date, or mode of determining the date, when each becomes due.
(2) If the creditor possesses insufficient information to enable him to ascertain the amounts and dates mentioned in subsection (1)(c), he shall be taken to comply with that paragraph if his statement under subsection (1) gives the basis on which, under the regulated agreement, they would fall to be ascertained.
(3) Subsection (1) does not apply to—
(a) an agreement under which no sum is, or will or may become, payable by the debtor, or
(b) a request made less than one month after a previous request under that subsection relating to the same agreement was complied with.
(4) If the creditor under an agreement fails to comply with subsection (1)—
(a) he is not entitled, while the default continues, to enforce the agreement[.]1
[...]1
(5) This section does not apply to a non-commercial agreement.

You will see that ss 4a deals with what happens if the credit doesn't provide the agreement, but ss 2 also gives them a get out if they can't provide the original agreement.

It is absolutely right that the party seeking to enforce a debt must prove that the money is in fact due.

Steve.