Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k custs

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

http://www.moneysavingexpert.com/new...ayment-demands

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

The question still arises and remains of whether or not ANY of these so called 'firms' of solicitors actually put together N1 forms and litigated inserting their names on a claim form as being the 'solicitor' for their 'client' (their employer the bank)and presenting this to a court and obtaining a judgement.

I'd like to hear on these forums from any of those out there who have been sued by these bogus 'firms'.

Then I'd like to hear from the SRA exactly what they think of the legality of that and the remedy proposed rather than hiding behind their 'confidentiality' front they usually do and telling us nothing.

I'd have to go digging deep into my shed to find it, but many years back I received a CCJ following a default on a credit card Geoffrey (something) Bourne chased me for and submitted to the court, they weren't a proper firm either I don't think.

I read somewhere that a solicitor had to have their name on the letter. i.e. they had to identify exactly who and which person (solicitor) was actually writing these letters.

Swift Advances plc (who I have mentioned here before) used an in-house set-up Swift Group Legal Services, no different to the Lloyds SCM one in the post earlier above.

They admitted to me they were a 'Department' of Swift Advances plc, but unlike the SCM one where the solicitor actually put her name on the bottom (On behalf of Phillipa Simmons) and got someone else to sign it mind you, Swift Group Legal Services never ever as a general practice put a solicitors name on their letters, the names were listed of those who worked there, but the writer rarely ID'd themselves.

Now this shower put solicitor rate charges onto the accounts and charged contractual rate interest - did any of these other 'firms' like SCM do that or charge for their 'services' and costs?

Is it legal for them to do such a thing if they are just pretending to be a 'firm'?

Dig deep people because the devil in all this is in the detail, the finer print and the legality of what they have done.

I paid over £50,000 to these creeps in legal costs and was taken to court paying the price of their barristers to fend me off.....if they are not what they say on the tin, then someone owes me an awful lot of money and the judgements are in question so WE NEED THE ANSWERS.

This is not just a small petty credit card default, these feckers are taking people's homes and wrecking families.

Dig.

A1

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Thanks Nibbler, that was quicker than I anticipated!

Now it needs to be established what exactly is the legality of that and how it stands up to having the legal effect it had. Once you've found out from the SRA or anyone else who will tell us, whether these are legal now that they have been deemed 'bogus' , then they have to tell us what the remedy is.

Brilliant, now we're getting somewhere.

A1

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

That was straight off a Google image search and CAG thread, so sure there must be plenty more out there.

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Mike770 had a court claim from DG which all the paperwork for has been sent over to the FCA and SRA. DG solicitors even submitted a change of solicitors form to the court to change to HSBC Litigation Dept. Which is just the same solicitor.

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Mike770 had a court claim from DG which all the paperwork for has been sent over to the FCA and SRA. DG solicitors even submitted a change of solicitors form to the court to change to HSBC Litigation Dept. Which is just the same solicitor.

We really need someone to look into getting the answer to this so we can use it as a guideline to all of our issues. This is very very serious.

The devil really is in the detail and getting a proper legal opinion on this.

Thanks Amethyst...please keep us up to date.

A1

[PAWS]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Is it too late to dig at this one?
I have posted this attachment up before and I have also sent a copy tothe SRA but have heard nothing and really don’t expect to.
The original claim /order is not available. Unfortunately after more than 10 years I do not think it is possible to get any info regarding the charges etc. that were added to this account. I know that is along time to get any redress but this woman made a career out of destroying people’s lives.
The solicitor does exist. She was employed by First National at the time. No record of a CCJ was found at the court. There is absolutely no record of Davis & co ever existing. Nicola Chard was on the executive board of First national at this time. She never worked for Davis & co. and certainly does not mention them in her Facebook CV!!!!:eyebrows: First National were in Caerphilly but not at this address. The address is now I believe Link Financial and I cannot find out for definite who was there at the time this letter was written but neighbours think it was some sort of metalwork firm. Perhaps that is where Ms. Chard bought herunderwear.:faint2:

Take a look at these when you get a chance. Both are old I’m afraid.
http://news.bbc.co.uk/hi/english/static/audio_video/programmes/inside_money/transcripts/credit1.txt
http://www.theguardian.com/money/2002/jul/20/creditanddebt.jobsandmoney

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

She's been around since then, my niece had something a couple of years ago.

[PAWS]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

She was with GE Capital after First National and now is the MD of a firm called B legal. I think it might be her own firm /set up by her in2005.

[EXC]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

I wish to make a request for information under the Freedom of Information Act 2000.

On 25 June 2014 Tracy McDermott stated on BBC Radio 5 Live that FCA did ''not have the power to impose a penalty as a punishment'' on Wonga because ''the misconduct took place before we took over regulation of this sector in April 2014'' which was previously regulated by OFT.

Clearly this raises serious questions as to whether a regulatory black hole exists whereby the Payday Loan sector or indeed any consumer credit sector taken over by FCA can rest assured that it will go unpunished for any misconduct it undertook more than two months ago.

1) Please provide me with the internal advice and briefing notes Tracy McDermott relied upon to make the above statements.

2) Please provide me with the relevant legislation underpinning that advice.

Yours
EXC

Dear EXC,

Freedom of Information: Right to know request

We refer to your request under the Freedom of Information Act 2000 (the Act).

We are writing to tell you that we need more time to consider your request and will respond to you in due course.

Please accept our apologies for any inconvenience this may cause.

Yours sincerelyInformation Access Team / Finance and Operations

Financial Conduct Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Oh well done EXC, that's hit the nail on the head. They need more time - at least it's not a ' "we are sorry that is not the answer you were expecting"

I truly hope they are more dedicated to listening to the Consumers than the OFT rather than the finance industry.

All we have to do now is teach the judiciary that we rogue debtors are actually rather nice people and not the 'unsophisticated' bunch they believe we are. Maybe in another life...

Well done.

A1

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Received a ''PR'' email today from a debt collection company.... selling their services to businesses off the back of the Wonga and SLC ''fake'' letters...


Don’t Fall Into the Wonga Trap… Why Using a Professional Debt Collection Service Will Always Pay

July has been a bad month for Wonga…

The under-fire loans company has been told it could face criminal charges over its use of ‘fake’ legal letters sent to 200,000 borrowers - signalling yet another blow to its credibility and public image.
For their part, Wonga argue the practice was historic and only used in limited circumstances.

And they’re not the only ones.
In the last few days the Student Loans Company and energy giant N Power have both been accused of intimidating vulnerable debtors with similar letters.

So how can firms collect monies owing without alienating clients or falling foul of the law?

Outsourcing the service to a professional firm is one way of keeping cash flowing, while maintaining best practice for consumers.

Instead of inventing a faux legal company, many British bosses are calling in external experts to help - and to ensure transparency around their services.

Companies like NAME REMOVED FOR PRIVACY adhere to a strict industry code of conduct and can help creditors collect money effectively and legally.

Here at NAME REMOVED FOR PRIVACY explains the benefits…

“At NAME REMOVED FOR PRIVACY we welcome the fines given to these companies for the worry they’ve caused their customers. As debt collection experts we don’t need to pretend to be anything we’re not. We pride ourselves on best practice debt collection, this often involves helping the debtor to put together a budget that we hope will be sustainable for them, we then look at what they can afford to pay towards any debts.

“We don’t make idle threats against debtors, if we are to take legal enforcement action against a debtor we will explain this clearly at the time, we won’t use it as a threat, but as a last resort when all other efforts have failed.
“In the modern world of the internet, MoneySavingExpert Martin Lewis and countless financial forums it’s very easy to spot a ‘fake’ debt collection company. Customers are too savvy these days to fall for fake solicitors’ letters.

“We’ve been in the debt collection business since 1988. We work for all kinds of businesses from sole traders to large PLCS. We have a client base of over 20,000 companies who we’ve collected debts on their behalf. If fake letters, from non-existent solicitors worked we wouldn’t have such a thriving business and such an excellent record for recovering debts. We’d urge business owners with debt collection needs to contact a professional in the field”.

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

:biggrin1: speechless!

[ODC]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

It's Lowell's isnt it