M & S Personal Reserve Account

[ReFresh]

I have sent two CCA requests to Arrow Global regarding an M & S Personal Reserve Account that has been sold on. They have responded to both letters saying that it is an overdraft facility.


In their words "We do not accept that we are the creditor as envisaged by the above statute. This account arose under an overdraft facility. Even if this account was regulated under the CCA 1974. Part V of the act does not apply to this facility and there will accordingly be no executed agreement. The account is in default."


Is this covered by the CCA 1974 and also I have read on the internet that M & S was not granted a banking licence in the 90's and 00's, so the debt is not enforceable. Are either of these statements true? When were they granted a banking licence?


How should I proceed?


Kind regards
ReFresh

[Amethyst]

Re: Court Claim - Arrow Global / Marks & Spencer - 30-7-2015

Well it wasn't an overdraft, it really depends on your situation ( is there a court claim, pre-action letter or just chasing letters ? ) what you do with their reply.

the reply same as this one? http://legalbeagles.info/forums/atta...9&d=1439546905

Example agreement/s here http://www.legalbeagles.info/forums/...ve-CCA-M-amp-S ( not exactly legible I'm afraid ) and couple blog posts from Paul about them https://consumercreditlitigationandd...nd-overdrafts/ and https://consumercreditlitigationandd...lobal-limited/ ( think they're on this thread already )

[ReFresh]

M & S Personal Reserve Account

I have sent two CCA requests to Arrow Global regarding an M & S Personal Reserve Account that has been sold on. They have responded to both letters saying that it is an overdraft facility.


In their words "We do not accept that we are the creditor as envisaged by the above statute. This account arose under an overdraft facility. Even if this account was regulated under the CCA 1974. Part V of the act does not apply to this facility and there will accordingly be no executed agreement. The account is in default."


Having searched the internet, some people have said that this is covered by the CCA and also that M & S was not granted a banking licence in the 90's and 00's, so the debt is not enforceable. Are either of these statements true? When were they granted a banking licence?


How should I proceed?


Kind regards
ReFresh

[Kati]

Re: Court Claim - Arrow Global / Marks & Spencer - 30-7-2015

Well it wasn't an overdraft, it really depends on your situation ( is there a court claim, pre-action letter or just chasing letters ? ) what you do with their reply.

posts moved as [MENTION=107164]ReFresh[/MENTION] started a new thread

to LB ReFresh xx

- - - Updated - - -

I'll post up a link to [MENTION=551]pt2537[/MENTION]'s blog too (where AG got thrashed over a "Flexible Reserve Account" from M&S ... could this be the same sort of thing?)
https://consumercreditlitigationandd...lobal-limited/

[Amethyst]

Re: Court Claim - Arrow Global / Marks & Spencer - 30-7-2015

OOPSY ! I really should check such things before being storming norman.

[Diana M]

Re: M & S Personal Reserve Account

What year did you open the account?

And why have you sent two CCA Requests to Arrow?

Di

[ReFresh]

Re: Court Claim - Arrow Global / Marks & Spencer - 30-7-2015

Well it wasn't an overdraft, it really depends on your situation ( is there a court claim, pre-action letter or just chasing letters ? ) what you do with their reply.

the reply same as this one? http://legalbeagles.info/forums/atta...9&d=1439546905

Example agreement/s here http://www.legalbeagles.info/forums/...ve-CCA-M-amp-S ( not exactly legible I'm afraid ) and couple blog posts from Paul about them https://consumercreditlitigationandd...nd-overdrafts/ and https://consumercreditlitigationandd...lobal-limited/ ( think they're on this thread already )

Thank you for your response. Yes, it is a very similar letter, which I attach. There is no court claim. I have just been constantly hassled so decided to look on the internet and came across the letters, which I sent them. Moorcroft were dealing with it on behalf of Arrow, but they have subsequently washed their hands of it. Unfortunately, I can't understand much of the agreement that was posted. I can't remember when I got this account, it was pre 2002. I want to find out if these debt collectors are collecting debt legally - if they've got all their paperwork in order, but by the way their letter is written, I assume they haven't.

[ReFresh]

Re: M & S Personal Reserve Account

I can't remember what year I opened the account, it was pre 2002. I have sent the CCA request letter, plus the follow up letter. Their responses were the same to both letters. While I agree that I have this debt with Marks and Spencer, I don't agree that I have it with anyone else. I did have had a letter from M & S to say they had sold this debt. I have only just stopped paying it because they haven't furnished me with the credit agreement for which I asked.

[Amethyst]

Re: M & S Personal Reserve Account

How much approx are they chasing?
When approx did the account default originally?
Who are Tessera ? https://beta.companieshouse.gov.uk/company/02453485 ? If so they will have had the debt sometime between M&S and Arrow so there needs to be a full paper trail of assignments to evidence it was assigned by M&S to Tessera and then from Tessara to Arrow.
And of course are you certain this is the M&S account ( have Arrows previous letters referred to M&S or just Tessera ?)

I agree they are unlikely to have their paperwork in order judging by that letter.

[ReFresh]

Re: M & S Personal Reserve Account

Tessera Portfolio Management Ltd were the company that bought the debt from M&S in 2005. I am actually in default for this month as I was paying Moorcroft, who have now washed their hands of it, so I have cancelled the Standing Order and I have not been told who else to pay.

[Amethyst]

Re: M & S Personal Reserve Account

TPM dissolved
https://beta.companieshouse.gov.uk/company/03730080

Dissolved on
30 July 2013

So they'd have to have assigned it before then ( or shortly after as part of a debt book sale to Arrow presumably )

[Diana M]

Re: M & S Personal Reserve Account

As far as I'm aware Tessera Credit Group LLP still exists. It is/was a 'group' of companies.

In November 2014 Arrow Global purchased selected assets from them >

http://www.arrowglobal.net/news/defa...x?newsitem=145

If you want to know the background of your account I would sent a Subject Access Request to M & S then you'll see what really went on and when.

Di

[ReFresh]

Re: M & S Personal Reserve Account

TPM dissolved
https://beta.companieshouse.gov.uk/company/03730080

Dissolved on
30 July 2013

So they'd have to have assigned it before then ( or shortly after as part of a debt book sale to Arrow presumably )

I have a letter with headed paper from Arrow Global (on the left) and Tessera (on the right) dated 23rd December 2011 advising me that TPM have assigned everything to Arrow Global. Does this mean that they are the same company?

[ReFresh]

Re: M & S Personal Reserve Account

As far as I'm aware Tessera Credit Group LLP still exists. It is/was a 'group' of companies.

In November 2014 Arrow Global purchased selected assets from them >

http://www.arrowglobal.net/news/defa...x?newsitem=145

If you want to know the background of your account I would sent a Subject Access Request to M & S then you'll see what really went on and when.

Di

If I send a SAR to M&S, will that open a can of worms? Will they then send on the signed agreement to Arrow Global?

I'm sorry to be such a nuisance and I really appreciate your help.

[Diana M]

Re: M & S Personal Reserve Account

If I send a SAR to M&S, will that open a can of worms? Will they then send on the signed agreement to Arrow Global?

A SAR is between you and M & S and nobody else. You're asking them to send you the data they hold on you, that's all.

Di