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Hi everyone
I have received a letter from a DCA claiming I owe them some money which got me into this whole debt collection and credit record thing. My situation is somewhat unique but I believe it will apply to quite a lot of people around the country in both the same and similar positions so I am asking for advice on a number of issues that may also help others. If you could help I would be really grateful. I will explain the situation in more detail:
I received a letter from Lowe financial claiming I owed them money for an old phone debt. This was on Xmas eve. I looked on Clearscore and there it was. I was of the assumption that all my debts are statute barred for which I will explain in a minute, but something looks 'fishy' on my credit record......(apart from the hilariously low score of 55 - can anyone beat that?!)
It states that this account was setup in July 2011. Then on, closer inspection, it says payments were made until March 2012, without a single payment being missed. Then the debt was closed (this is a closed account on my credit record). There is no reference to any missed payments at all on the record. It's almost as if someone has added some extra payments to the record to 'un-statute bar it'. Either that or it's just reported wrong - can they be wrong?
The reason I am sure this is wrong is because in September 2011, I was sent to prison. It is completely impossible that any payments were made during my incarceration. I had no money when I went to prison, and there is absolutely no way any payments were made. I stayed in prison until 2 months ago. I served six years and one month. This alone surely means my debts get wiped or are unenforceable?
Whilst this is a long time in prison, with regards to debt surely this means something is wrong on my file?
Now I was going to ring Lowe and tell them it's statute barred, but I first checked and saw this payment record. So now I am asking for advice rather than running straight in. It says they bought the debt in 2015. I was still obviously in prison. Can they buy debts of incarcerated people? Surely not as inmates cannot legally enter into any contracts. Surely having data bought is technically entering a new contract? Possible legal challenge anyone?
But getting back to the question......is this statute barred......should I hold tight until the end of March, when the 6 years is up according to the credit reference, or should I call them now and tell them no way?
I had a great credit score until my imprisonment. Now there are actually a total of three closed accounts, and interestingly they are all the same - claiming payments until March 2012, when there is no way any payments were made after September 2011. There was also no one to pay these bills which is why I am adamant this is wrong.
Do companies put them up as paid before selling them, when in fact they have not been paid in months before selling them?
Is it odd to have an account look like it's fully paid up, with no missed payments and then suddenly sold?
Should I just leave this?
I am currently living in an approved premises which has all kinds of confidentiality attached to it - could this ward them off?
After serving my time I am going to work as hard as I can. I claim universal credit which is tough right now, but have already registered as being self employed and am on the new enterprise scheme. I am so determined to do this right, so focused now as that is all I can do. I don't want this debt company targeting me for what I believe to be a barred debt. It's a real distraction I do not need. Previously I would have paid my debts but right now it's too hard. I see it like they would have bought this for a literal 'box of frogs' so why should this company, that I have never heard of be demanding money from me now? I don't want to sound like I am running from a company. I need to focus on the future, build stability and do this company have any right at all to be contacting me at a confidential approved premises for a debt they apparantly bought whilst I was in extended custody?
This brings me onto my second problem. My old house.
I tried to keep it, but in 2013 the last payment was made. I bought it in 2007 for £325,000 and had a mortgage of £292,500. I had a repayment mortgage for the first couple of years and the debt I noticed at one point had gone down to £287,000. Then I changed to interest only due to a change in circumstances. This was paid for until 2013, just over a year after my imprisonment. My ex-wife was living in the house. Then in 2013 she vacated the property.
The mortgage then went unpaid, and in 2015 the mortgage company took possession. It took them ages to sell it - not until December 2015 at auction. They took £306,000 for it.
They now claim that I owe them almost £10,000. How can this be?
How can a mortgage be £292,500, be paid for 6 years in total (3 on capital repayment), then sold for £306,000 and now I owe them £10,000.....surely they owe me?
It's like exuberant fees were being added all the time. I remember at the time of repossession the order was for less than £300,000. What else could have cost over £16,000 in total (£306,000 sale price plus the mysterious £10,000 extra). Does this sound wrong?
This is really a post about debt and people being released from prison. Yes we have done time, but myself in particular, and many others are really trying to integrate and move forward in the correct way. Work hard, be ethical. We have done our punishment and are a part of society again. Which is why I ask for help. Moving forward is imperative. Can these companies rip us off and pull us back? It makes it hard not just for me, but also for the many struggling around the country. It's just a sad situation. Can you give myself and others in my sort of situation solid advice?
Do I contact the debt companies? Can they activate closed accounts? Are the payment records accurate? Can mortgage companies rip me off like this? Can I reclaim PPI on a joint mortgage without the co-signatory? There are so many questions for people really trying to make amends and re-take ownership of their lives.
Thank you
PS - I apologise if this post is a bit all over the place. I suffer from anxiety (am on medication for this) and things like this really worry me. My Clearscore did go up to 116 this month though - maybe because I have a bank account now. Onwards and upwards!
I have received a letter from a DCA claiming I owe them some money which got me into this whole debt collection and credit record thing. My situation is somewhat unique but I believe it will apply to quite a lot of people around the country in both the same and similar positions so I am asking for advice on a number of issues that may also help others. If you could help I would be really grateful. I will explain the situation in more detail:
I received a letter from Lowe financial claiming I owed them money for an old phone debt. This was on Xmas eve. I looked on Clearscore and there it was. I was of the assumption that all my debts are statute barred for which I will explain in a minute, but something looks 'fishy' on my credit record......(apart from the hilariously low score of 55 - can anyone beat that?!)
It states that this account was setup in July 2011. Then on, closer inspection, it says payments were made until March 2012, without a single payment being missed. Then the debt was closed (this is a closed account on my credit record). There is no reference to any missed payments at all on the record. It's almost as if someone has added some extra payments to the record to 'un-statute bar it'. Either that or it's just reported wrong - can they be wrong?
The reason I am sure this is wrong is because in September 2011, I was sent to prison. It is completely impossible that any payments were made during my incarceration. I had no money when I went to prison, and there is absolutely no way any payments were made. I stayed in prison until 2 months ago. I served six years and one month. This alone surely means my debts get wiped or are unenforceable?
Whilst this is a long time in prison, with regards to debt surely this means something is wrong on my file?
Now I was going to ring Lowe and tell them it's statute barred, but I first checked and saw this payment record. So now I am asking for advice rather than running straight in. It says they bought the debt in 2015. I was still obviously in prison. Can they buy debts of incarcerated people? Surely not as inmates cannot legally enter into any contracts. Surely having data bought is technically entering a new contract? Possible legal challenge anyone?
But getting back to the question......is this statute barred......should I hold tight until the end of March, when the 6 years is up according to the credit reference, or should I call them now and tell them no way?
I had a great credit score until my imprisonment. Now there are actually a total of three closed accounts, and interestingly they are all the same - claiming payments until March 2012, when there is no way any payments were made after September 2011. There was also no one to pay these bills which is why I am adamant this is wrong.
Do companies put them up as paid before selling them, when in fact they have not been paid in months before selling them?
Is it odd to have an account look like it's fully paid up, with no missed payments and then suddenly sold?
Should I just leave this?
I am currently living in an approved premises which has all kinds of confidentiality attached to it - could this ward them off?
After serving my time I am going to work as hard as I can. I claim universal credit which is tough right now, but have already registered as being self employed and am on the new enterprise scheme. I am so determined to do this right, so focused now as that is all I can do. I don't want this debt company targeting me for what I believe to be a barred debt. It's a real distraction I do not need. Previously I would have paid my debts but right now it's too hard. I see it like they would have bought this for a literal 'box of frogs' so why should this company, that I have never heard of be demanding money from me now? I don't want to sound like I am running from a company. I need to focus on the future, build stability and do this company have any right at all to be contacting me at a confidential approved premises for a debt they apparantly bought whilst I was in extended custody?
This brings me onto my second problem. My old house.
I tried to keep it, but in 2013 the last payment was made. I bought it in 2007 for £325,000 and had a mortgage of £292,500. I had a repayment mortgage for the first couple of years and the debt I noticed at one point had gone down to £287,000. Then I changed to interest only due to a change in circumstances. This was paid for until 2013, just over a year after my imprisonment. My ex-wife was living in the house. Then in 2013 she vacated the property.
The mortgage then went unpaid, and in 2015 the mortgage company took possession. It took them ages to sell it - not until December 2015 at auction. They took £306,000 for it.
They now claim that I owe them almost £10,000. How can this be?
How can a mortgage be £292,500, be paid for 6 years in total (3 on capital repayment), then sold for £306,000 and now I owe them £10,000.....surely they owe me?
It's like exuberant fees were being added all the time. I remember at the time of repossession the order was for less than £300,000. What else could have cost over £16,000 in total (£306,000 sale price plus the mysterious £10,000 extra). Does this sound wrong?
This is really a post about debt and people being released from prison. Yes we have done time, but myself in particular, and many others are really trying to integrate and move forward in the correct way. Work hard, be ethical. We have done our punishment and are a part of society again. Which is why I ask for help. Moving forward is imperative. Can these companies rip us off and pull us back? It makes it hard not just for me, but also for the many struggling around the country. It's just a sad situation. Can you give myself and others in my sort of situation solid advice?
Do I contact the debt companies? Can they activate closed accounts? Are the payment records accurate? Can mortgage companies rip me off like this? Can I reclaim PPI on a joint mortgage without the co-signatory? There are so many questions for people really trying to make amends and re-take ownership of their lives.
Thank you
PS - I apologise if this post is a bit all over the place. I suffer from anxiety (am on medication for this) and things like this really worry me. My Clearscore did go up to 116 this month though - maybe because I have a bank account now. Onwards and upwards!
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