Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

[Kati]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

tagging [MENTION=55034]nemesis45[/MENTION] xx

[nemesis45]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Hi Nemisis45

I am exactly in the same position as this other person.
I noticed on my credit file some time ago that the payday loan I had taken out with Swift Sterling (circa £200) was settled in April 2012, I assumed that I had paid it and never thought anything more about it. As I also was in a terrible financial situation at that time, hence using payday loans!! Foolish I know now in hindsight.

I checked my credit file yesterday and have since noticed an entry for MMF with a default of May2016 and June 2016 as D (for default of £578).

If your offer of help is still available I would appreciate your help very much.

I have contacted the CRA as a query.

Can you please advise what I should do next please?

Kind Regards
Doc

Hello Doc,

MMF bought a portfolio of PDL debts and it seems that the lender (s) did not defaults the unpaid debts until immediately prior to sale or didn't default them at all leaving MMF to default the debt as and when they wanted to.

Which from the information posted so far looks like this could well be the case.

nem

You say " I assumed that you had paid" what method of payment would you have used? If this is to be contested you will need to get some idea of when and how much you paid.

[Kati]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Ex-tenant here keeps getting letters from MMF too. I send them back as "not at this address" (he left 4+yrs ago) but the letters keep on coming

[nemesis45]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Ex-tenant here keeps getting letters from MMF too. I send them back as "not at this address" (he left 4+yrs ago) but the letters keep on coming

MMF has been sanctioned by the OFT ( now FCA) in the past because of the way it conducted its business.

Neil Petty founder and MD is the person to make a Formal Complaint to, if he does not resolve the problem then make a report to the FCA.

nem

[Doc2527]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Hello Doc,

MMF bought a portfolio of PDL debts and it seems that the lender (s) did not defaults the unpaid debts until immediately prior to sale or didn't default them at all leaving MMF to default the debt as and when they wanted to.

Which from the information posted so far looks like this could well be the case.

nem

You say " I assumed that you had paid" what method of payment would you have used? If this is to be contested you will need to get some idea of when and how much you paid.

Hi Nem
If I had paid it would have been with my debit card (which I had to cancel due to the bank not stopping CPA on it to Wonga ), however I don't remember.
If I do still owe this money how can it be right that Swift Sterling have marked it on my credit file as settled and then MMF can add a default to my file after 4 years of it being marked as settled.

How can I go about challenging this? any form of words would be most helpful.

Do I write to Swift Sterling or MMF and ask for proof that this money is outstanding?

Many thanks for your quick response.


Doc

[Doc2527]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

bump?

[JulieM]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Doc

I have just read the thread and it appears that some reasons and possible actions you could take were explained in post 4

sorry I can't help more

[Doc2527]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Doc

I have just read the thread and it appears that some reasons and possible actions you could take were explained in post 4

sorry I can't help more

Thank you JulieM for your response, however you may have noticed that I requested a form of words that I could use to challenge my situation! perhaps you might be able to help?

doc

I never received a default notice from MMF.

[nemesis45]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

bump?

Credit File entries:

When a debt is sold by the original creditor the account is marked as settled because the debt purchaser has paid a sum to buy the debt.
The Debt Purchaser then updates the entry with their details.

The start/end and defaults dates must be those posted by the original creditor and cannot be changed.

The problem so often seen where MMF has been involved is as said above that MMF was allowed to buy debts that had not been defaulted by the original creditor thus giving MMF control of when to default the account.

MMF also have to my knowledge written to debtors stating that it would default the account if the debt remained unpaid.

IF this is what has happened to you the formal complaint is the way forward.

nem

[leonmc0708]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Credit File entries:

When a debt is sold by the original creditor the account is marked as settled because the debt purchaser has paid a sum to buy the debt.
The Debt Purchaser then updates the entry with their details.

The start/end and defaults dates must be those posted by the original creditor and cannot be changed.

The problem so often seen where MMF has been involved is as said above that MMF was allowed to buy debts that had not been defaulted by the original creditor thus giving MMF control of when to default the account.

MMF also have to my knowledge written to debtors stating that it would default the account if the debt remained unpaid.

IF this is what has happened to you the formal complaint is the way forward.

nem

Sorry for the very late reply on this - and maybe my poor understanding.

So I thought a debt default had to be lodged within a period of when a last payment had been made and it ACTUALLY defaulted? is this the case ? EG last payment 10th Jan 2010 this default needs to be lodged within 90 days so no later than 10th april 2010 ?

I have requested from MMile a copy of the agreement and statement and transactions and all they sent me is the agreement after requesting a second time.

am I right to demand they provide the statement of payments etc

OR

should I object to their lodging of a default so long after a payment was last made and the account thus defaulted ?

[nemesis45]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Sorry for the very late reply on this - and maybe my poor understanding.

So I thought a debt default had to be lodged within a period of when a last payment had been made and it ACTUALLY defaulted? is this the case ? EG last payment 10th Jan 2010 this default needs to be lodged within 90 days so no later than 10th april 2010 ?

I have requested from MMile a copy of the agreement and statement and transactions and all they sent me is the agreement after requesting a second time.

am I right to demand they provide the statement of payments etc

OR

should I object to their lodging of a default so long after a payment was last made and the account thus defaulted ?

Hi,

A CCA request is quite specific in that it provides for a copy of an agreement and a current statement of an account not historic statements.

Is the agreement supplied compliant??

Post a copy here after removing personal data and we can check it for you.

nem

[leonmc0708]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

hope that worked ?

[nemesis45]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

hope that worked ?

From what I can make out it looks OK .
Not seen a Mr lender agreement before though so can be sure on that one.

I couldn't see a term/condition specifically mentions when default may be placed.

nem

[Debt Camel]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

You should do both. Information on objecting to a default date is here: http://debtcamel.co.uk/debt-default-date/.

You are also entitled to ask for a Statement of Account showing the current alleged balance and the transactions.

You may be interested in this news article today: https://www.fca.org.uk/news/press-re...edress-package. I am not saying you will get any redress from them, but they will hopefully be planning to take all complaints seriously.

As I said previously, you may also want to consider complaining to Mr Lender that you were given an unaffordable loan.

[leonmc0708]

Re: Motormile Finance UK LTd (MMF) - threat to issue a default against old debt

Having dealt with MMF for quite a long time Neil Petty
nem

Hi-I still have issues with this-does an yoen have this Neil Pettys email at all