Help with DCAs

[mahargrisch]

Hello everybody
I am looking for some advice.
4 years ago my mother who was the primary carer for my disabled father died.
My employers moved and I had to take a new job with reduced income so I could stay near my dad.
After A couple of years I got into difficulty making repayments on my CC and Loans on time.

I approached the lenders and offered to pay reduced amounts.Most of the CC companies accepted and suspended interest.

1. One "reputable" bank informed me that as I had not missed any payments on my loan they could not help.They informed that I had to have arrears first.I witheld payment for 2 months but before I could arrange a plan they sold my debt to a DCA and refused to talk to me.I was contacted by this DCA and my offer of a monthly payment was accepted May 2009.
2. Another CC company claimed that I had defaulted on a plan in Dec last year and sold my debt to another DCA.I have made a cca request to this company and follow ups and am awaiting the outcome.
3. A third bank just informed that they were no longer handling my account as they had sold it to yet another DCA.I was contacted by this DCA and again had my monthly offer accepted in March 2009.

With 1 and 3 although I make monthly payments I have never acknowledged that I owe the DCAs and they always contact me on behalf of their clients.
In truth I know that they have bought the debt.

The past four years have been a struggle but I would now like to get these debts sorted.

1. With the cc companies that have suspended interest, it is my intention to offer a full and final payment.Do they accept offers of reduced amounts.
2. With the DCAs does my paying them constititue an an aknowledgement that they are the creditors.
3. If I send them cca requests knowing that they are going to reply that they are not the creditors help me in getting a small full and final offer accepted.
4. If they dont reply in time is it in my interest to suspend payment.

If I had known when I first got into trouble about DCAs I would not have made payments but at the time looking after my dad was the most important thing for me and I just dealt with these people to get them off my back.I had no time to research the best way to get out of trouble.
Any advice now would be truly appreciated

[Curlyben]

Re: Help with DCAs

Seems you have already been reading up on DCA's with your reference to CCA requests.

Have a read of the first link in my sigge for more details.

Which DCA's are you dealing with here ?

[mahargrisch]

Re: Help with DCAs

I have been reading up on DCAs and when I came across your postings ealier this year I used your template letters.
Most importantly these made me realise that I no longer had to bullied by them.When I read your postings the the relief was instananeous.
I wanted to thank you then but just at the same time my father went into hospital and everything thing else went on the back burner.
Once again Thanks
------------------------------- merged -------------------------------
Dlc-debtmanagers-arrow Global

[Curlyben]

Re: Help with DCAs

Glad I could be of some help.

[Tommy]

Re: Help with DCAs

Who are the original creditors? and are they ALL sold on debts? what kind of figures are we talking about?

[mahargrisch]

Re: Help with DCAs

Hi Tommy.
I think I’ve got the DCA part under control.Yesterday I sent CCA requests to the 2 DCAs that I have been paying monthly since April 2009.Both of these claim to collecting/acting on behalf of the OCs.One is for a personal loan originally £25000.00 now with £8000.00 o/s.The other is for a Credit Card with about the same o/s.
I fully expect the loan to come back with original CCA but have already been approached by letter with offers of a reduced settlement figure.There was no PPI or late charges with this loan so settlement will be upto negotition.
With the Credit Card I am confident that the original CCA will not appear as with all my credit cards the original CCA was signed 15 years ago.I still have my copy of the CCA and all statements.This CC has been taken over/bought by a number of companies and I am betting on them not being able to find it.If this is the case I will then send the default lettter and withold payment.In the meantime I am prepariing a SAR to send to OC but having spent the day putting statements in order I am also preparing a list of the late payment/over limit charges.
I originally sent CCA, request to the DCA that contacted me in March 2010 in connection with another CCC(credit card company)£15000.00 o/s and after a reminder letter informing them that time was up received a letter together with my postal order informing me that they were not the creditors but had passed my request on.
I replied informing them that their original contact letter was headed:
"Notice of Assignment Pursuant to the Law of Property Act 1925"
And stated that the CCC HAS ASSIGNED ALL OF ITS RESPECTIVE RIGHT,TITLE AND INTEREST(including the right to receive payment of the outstanding balance).
Using a slightly modified Curlyben template I notified them that the account was now in default etc.
I then recieved a new demand from a subsidiary DCA and hit them with the slighltly bemused letter and they replied acknowledging that a query had been raised.
I decided in for a penny and today CCA,d all the CCC that I have accounts with (5) .
I have two with barclaycard both of which I have had an arrangement with.Each time the arrangement comes up for renewal Barclaycard contact me and arrange a further period for both cards.Every time one of the arrangements gets lost and in the past I have phoned and phoned to get it re-instated.
This time they called in June and as usual one of the arrangements was not processed and they have cancelled the card.So I have also sent them a SAR but as before I have all my statements since 1994 so I am preparing a list of late charges/over limit charges and PPI payments.
I intend to start a thread for each hoping that others will glean some benefit. Once the ball is rolling I will be more forthcoming with details but for the moment just because I am paranoid doesn’t mean they are not watching me.
I try to search for answers to querys as I proceed but I expect to have to ask many questions.
I have two currently
1. I have statements going back 16 years I know about the time limitations but although I cant pursue the time barred charges through the courts should I ask for them as I understand that I still have the right to ask.This includes late/default/overlimit as well as PPI

2.With compensatory interest how is this calculated-what can I claim.Do I use the interest spreadsheets (claiming the 8%) but just call it "COMPENSATORY" and would I have to show the breakdown or just give a figure plus compensatory interest in my first claim letter.


It has always been my intention to pay my debts.After all I have had the money and used it to my benefit.
But having looked through my statements even the CCC’s that have treated me fairly in the past year originally had PPI on my accounts and have charged me a fortune before I cancelled it.Late charge and over limit charges of £35.00 each have occurred on occasion.The addition of these charges together with compound interest must account for a substantial sum when they were making a healthy profit just from the interest on my purchases.
Regards

[Tommy]

Re: Help with DCAs

The reason i asked for the OC is to give you an idea what i could offer you if was asked to visit your doorstep.
Barclay cards are normally good for a 40% reduction. Bear in mind i personaly get 15-25% commision on what you would pay in settlement, then the company gets a cut etc, you could be looking to pay 25%-40% id guess if you make the offers around the 25% and see what happens should you decide to.

Bear in mind when debts are bought they pay from 4p-20p in the pound generally...

Recently several creditors have allowed me to personally collect 25-35% as final settlement, out of that i still get 15-25% of money paid, company still gets a cut, and the creditor is happy...