advice please on a loan that was taken 12 years ago

[KEV30]

my partner took out a loan 12 years ago also took out insurance on the loan only had about 400 pound left to pay he lost his job and the insurance didn't pay out but they should have!! years later he as been getting pestered by Mackenzie hall set up a payment plan with them last year so they leave us alone as we was having some health issues with pregnancy and didn't want to get pestered and cause more stress stopped paying them and asked them to send proof of the loan agreement as my partner no longer as proof of this they couldn't provide any proof they thought it was for a overdraft which he never set up an agreed over draft? they have passed it on to arrow global limited im worried im going to have dept collectors at my door.. the dept is now 1800 ????? what can we do this should have never been passed over to a dept collection agency HSBC bank recalls no account being opened as they closed it years ago when we tried to chase for the proof??

[KEV30]

Re: advice please on a loan that was taken 12 years ago

anyone have any advice on this??

[Kafka]

Re: advice please on a loan that was taken 12 years ago

How many years passed between your last payment or acknowledgement of the debt and the first contact from MH?

Can you provide a timeline for the account first?

[KEV30]

Re: advice please on a loan that was taken 12 years ago

last payment made was 09/08/2012 first payment plan set up was about 16 months ago

[FlamingParrot]

Re: advice please on a loan that was taken 12 years ago

my partner took out a loan 12 years ago also took out insurance on the loan only had about 400 pound left to pay he lost his job and the insurance didn't pay out but they should have!! years later he as been getting pestered by Mackenzie hall set up a payment plan with them last year so they leave us alone as we was having some health issues with pregnancy and didn't want to get pestered and cause more stress stopped paying them and asked them to send proof of the loan agreement as my partner no longer as proof of this they couldn't provide any proof they thought it was for a overdraft which he never set up an agreed over draft? they have passed it on to arrow global limited im worried im going to have dept collectors at my door.. the dept is now 1800 ????? what can we do this should have never been passed over to a dept collection agency HSBC bank recalls no account being opened as they closed it years ago when we tried to chase for the proof??

Was it a loan or an overdraft? You even say your partner took out insurance. It makes a difference as overdrafts don't involve signing a credit agreement as loans do. Who was the original creditor?

You say the loan was taken out 12 years ago but a repayment plan was set up last year when it had been passed to MH. When was the last payment on the loan before setting up the arrangement with MH? Could there have been a 6 year gap with no payments in between?l if so, the debt would be Statute Barred.

Don't worry about doorstep collectors, most of the time they are just empty threats. In the event someone turned up, you don't have to talk to them or let them in at all, they are NOT bailiffs and have no more rights than your neighbour's dog!:beagle:

[KEV30]

Re: advice please on a loan that was taken 12 years ago

last payment would of been mid 2004 the original creditor was HSBC bank it was a personal loan he never had a arranged overdraft but did have ppi on the loan lost job mid 2004 applied for insurance to cover repayments was only about 400 pound left to pay which was not payed as he refused cus insurance should of covered it then never made contact till about 16 months ago mc hall pestered we set up payment plan to avoid stress at time of pregnancy but felt we should not have to pay credit experium shows no ccjs either we checked about 2years ago and credit ratings was good ???

[Kafka]

Re: advice please on a loan that was taken 12 years ago

How many years passed between your last payment or acknowledgement of the debt and the first contact from MH?

Can you provide a timeline for the account first?

Can you confirm that you paid nothing between 2004 and 2011 and never acknowledged the debt either?

If that was the case then it is statute barred and you have nothing to pay.

[FlamingParrot]

Re: advice please on a loan that was taken 12 years ago

last payment would of been mid 2004 the original creditor was HSBC bank it was a personal loan he never had a arranged overdraft but did have ppi on the loan lost job mid 2004 applied for insurance to cover repayments was only about 400 pound left to pay which was not payed as he refused cus insurance should of covered it then never made contact till about 16 months ago mc hall pestered we set up payment plan to avoid stress at time of pregnancy but felt we should not have to pay credit experium shows no ccjs either we checked about 2years ago and credit ratings was good ???

If you didn't pay anything between 2004 and 2010 then it will definitely be statute barred. :yo:PPI makes no difference.

Defaults drop off 6 years after they were recorded so if you defaulted in 2004 then your file should have been clear since 2010.

if they never took you to court, there wouldn't be any CCJs.

[KEV30]

Re: advice please on a loan that was taken 12 years ago

if we could find the loan agreement or get sent it from the debt collectors they would leave us alone as the insurance is on it! loan was over 3000 and paid insurance along side it last payment was 2004 no contact from them until about 3 years ago which is when we phoned hsbc bank to find out what was going on and they couldn't even find his account??we then set up payment plan about 16months ago after all the phone calls ect..paid them 120 so far.but stopped paying 4-5months ago and told them about 3 weeks ago to provide proof of the loan agreement which they said they will send me after we argued with them cause they tried to tell him its for a overdraft??they then agreed it was for the loan? last week i phoned them to ask where it was and they said account was closed and passed back over to that arrow global limited im now waiting to hear from them

[KEV30]

Re: advice please on a loan that was taken 12 years ago

turns out it was for an overdraft in 2005 bank screwed him over as the payments from the loan went from the bank he never agreed for an overdraft or signed! he has received a letter from arrow global today saying he owes them the amount outstanding they said we contacted you in 2010 and a payment was set up last year to repay what we thought was a personal loan! so where do we stand now what can we do?

[FlamingParrot]

Re: advice please on a loan that was taken 12 years ago

turns out it was for an overdraft in 2005 bank screwed him over as the payments from the loan went from the bank he never agreed for an overdraft or signed! he has received a letter from arrow global today saying he owes them the amount outstanding they said we contacted you in 2010 and a payment was set up last year to repay what we thought was a personal loan! so where do we stand now what can we do?

If nothing was paid between 2005 and last year (2012), then it's still Statute Barred, regardless of whether it was an O/D or a loan (the limitations period is the same for all unsecured debt). Their contacting you in 2010 makes no difference as long as there was a clear 6 year period without payments.

[KEV30]

Re: advice please on a loan that was taken 12 years ago

do you no what we could send back to them to get them to leave us alone there saying we have to pay regardless because there is an out standing dept they want us to fill in forms and send it to them my partner as gone down the bank today with the account details they gave us!

[FlamingParrot]

Re: advice please on a loan that was taken 12 years ago

do you no what we could send back to them to get them to leave us alone there saying we have to pay regardless because there is an out standing dept they want us to fill in forms and send it to them my partner as gone down the bank today with the account details they gave us!

Don't fill in any forms, just send them this, once they receive notification that a debt is SBd and no payment will be made they should go away.

Dear Sirs
Statute Barred Account No.

You have contacted me regarding the account with the above reference number, which you claim is owed by myself. I would point out that under the Limitation Act 1980 Section 5 "an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued".

I would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that "it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period". The last acknowledgement to this debt was made over six years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act, I suggest that you are no longer able to take any action against me to recover the alleged amount claimed.

The OFT Debt Collection Guidance states further that "continuing to press for payment after a debtor has stated that they will not be paying a debt because it is statue barred could amount to harassment". I await your written confirmation that no further contact will be made concerning the above account and confirmation that this matter is now closed.

I look forward to your reply.

Yours faithfully,

[KEV30]

Re: advice please on a loan that was taken 12 years ago

so i sent that letter off to them and i have received a letter today saying - we are unable to accept that the above account meets the provisions of limitation act 1980. payments were received on the account between 28/07/2011 and 9/08/2012 totalling a sum of 120.85 we refer to you to our previous correspondence dated 30/01/2012 in which we enclosed dispute forms for completion, as you had disputed the above dept on the basis of fraud had been committed . regrettably we can not trace any record of receiving your completed fraud disclaimer form. this document is required as it allows internal investigation procedures to commence with a view to resolving any dispute. we have enclosed another copy of the fraud disclaimer form and we would be grateful if you would use this to provide full details of your dispute in the absence of any further contact out collection activity will recommence 21days time we trust this will provide you with sufficient opportunity to complete the enclosed form

i feel like they have really took the p""" (mick) i really dont no what to do? please can anyone give me advice

[KEV30]

Re: advice please on a loan that was taken 12 years ago

the payments on the account was made because i thought that it was for personal loan that's what they made me believe! i only found out that it was for a overdraft on receiving the letter from them! the bank have no records of a overdraft either?