Help dealing with Four defaults and three DCA companies: Idem, Robinson Way & PRA

[shibets]

Hi everyone,

I am trying to get my finances in order and have been reading up on forums about those who have had successes dealing with DCAs, but unfortunately my accounts don’t seem to make sense, so even if I wanted to set up full and final settlements later in the year I don’t know whether I should first chase up and see what is happening with each account or just continue paying them and not question the payments.

I thought I should send out CCA letters to the three DCA accounts I am paying but I don’t know whether I should send out SARS letters to find out what is going on with two bank account overdrafts which I have defaulted on my credit file but no clue whether I am paying for them or not, because nothing shows up on my direct debit/standing orders for them. I am really confused how I should go about this, I have read some brilliant achievements on this forum and I am ready to fight or question if I have the right to or if it will help me.

Any help would be extremely appreciated!

Below I have copied and pasted some information from checkmyfile.com and also outlined the DCA companies that I am currently paying out to try and make this as clear as possible for anyone that can help me. Thank you in advance for your help everyone.

On my credit file are these four defaulted accounts
ACCOUNT ONE
Lender Idem Capital Securities
Account Type Unsecured Loan
Opening Balance £2,483
Current Balance £1,868
Monthly Change -£12
Worst Status A notice of default has been served - this usually arises from non-payment.
Default Balance £2,090

I am paying this via direct debit reduced monthly installment at the moment, this has been passed from Agilent to Moorgate and now to Idem and I it was so long ago now I cant even remember who the original company was who I took a loan out with.

ACCOUNT TWO
Lender NWB Current Accounts
Account Type Current Account
Opening Balance £1,622
Monthly Change -£5
Worst Status A notice of default has been served - this usually arises from non-payment.
Default Balance £1,806
Default Date 31 July 2013

It says I am paying £5 per month but I cannot see any standing order or direct debit going out of my account for £5 per month, so I have no idea what is going on with this account. Both Barclays & Natwest overdrafts have been passed over to DCA I am sure of it, but I am unclear on who they are or what is going on with these accounts. What shall I do? Do I chase up with the actual banks to see what information they can pull up (send SARS)


ACCOUNT THREE
Lender Barclays Bank plc
Account Type Current Account
Opening Balance £1,779
Current Balance £1,590
Monthly Change -£18
Worst Status A notice of default has been served - this usually arises from non-payment.
Default Balance £1,663

Similar to my Natwest account, I do not have anything on my bank account showing I am paying them, yet it shows I am paying £18 per month, once again I do not know how to handle this and whether I have a DCA I am paying, I haven’t received any letters for a while and I don’t have a clue what I should do.

ACCOUNT FOUR
Lender MKDP LLP
Account Type Credit Card
Opening Balance £291
Lump Payment Not Recorded
Current Balance £264
Monthly Change -£2
Worst Status A notice of default has been served - this usually arises from non-payment.
Default Balance £291

Finally I have a PRA Group direct debit set up for £8.86 per month but yet again I don’t know what debt this is for now, as it seems to have been set up some time back, with moving and getting married last year I lost a lot of paper work and I cant remember what DCA is for what account and why now.

SUMMARY
SO, I have four default accounts on my credit file, showing a D sign every single month on my account, but I have three payments from DCA going out of my account two I know why I am paying but PRA I don’t know what its for, and the two bank account overdrafts I have defaults for I don’t know what is happening with them and what to do.

DCA payments:
Idem £11.88 they recently contacted me to see if I can still afford this.
Standing order set up.

Robinsons Way £2.50 I believe this is on my credit file under MKDP (are they the same company) for an Aqua credit card. But there is nothing on my credit file saying I am dealing with Robinsons Way
Direct debit set up.

PRA Group £8.86 No clue whatsoever why I am paying this and for what account.

Is is better to just keep paying minimums because either way the default will still be on my files for 6 years or F&F is a better solution?

[nemesis45]

Re: Help dealing with Four defaults and three DCA companies: Idem, Robinson Way & PRA

Good morning, welcome to LB,
I think you should deal with one account at a time to avoid confusion.
I presume none of these are currently subject to or threatened with court action?
All are fairly recently defaulted I see.

Account 1. Start with making a CCA request to Idem this is for a copy of the agreement for the account.
There's a £1. 00 statutory fee payable for this ( use a postal order endorsed " For Statutory Fee Only"
made payable Idem.
There's a template in the forum library for this.
Send by signed for post.

You can do the same with all the accounts, using the names and addresses as shown on your credit files.


You mention " Full & Final Settlements" these need to be carefully worded otherwise the balance could
come back later.

The offer should start at no more than 10% of the outstanding balance to give room for negotiation.

The offer should be made conditional upon.
1. The credit file should be marked " partially satisfied".

2. The remaining balance is not to be sold or assigned to any 3rd Party at any time in the future.

3. Payment will be made within 7 days of receiving written agreement to the offer.

Important! Do Not send any payment without having a written agreement, any money paid
in anticipation of the creditors agreement will most likely be treated as an unconditional payment
and the creditor can/will continue to pursue the outstanding balance.

nem

[shibets]

Re: Help dealing with Four defaults and three DCA companies: Idem, Robinson Way & PRA

thank you nemesis for the reply.

So each account I should send a CCA and see what they come back with, before I send any F&F letters if these companies cannot provide proof or agreements (due to the fact that they have been passed around so much) what do i do then?

I have been advised to perhaps cancel all payments that I am making, see who contacts me chasing it up and then send out prove it letters this applying only to the Idem loan and credit card debt. I have been told to send SARS letters to the banks as they work on different legislation's?

I am unsure which is the best way to get the best result.

[nemesis45]

Re: Help dealing with Four defaults and three DCA companies: Idem, Robinson Way & PRA

thank you nemesis for the reply.

So each account I should send a CCA and see what they come back with, before I send any F&F letters if these companies cannot provide proof or agreements (due to the fact that they have been passed around so much) what do i do then?

I have been advised to perhaps cancel all payments that I am making, see who contacts me chasing it up and then send out prove it letters this applying only to the Idem loan and credit card debt. I have been told to send SARS letters to the banks as they work on different legislation's?

I am unsure which is the best way to get the best result.

I don't know who advised cancelling payments it's not a good thing to do
debt purchasers will jump to a court claim very quickly when agreed payments
are stopped.

A Subject Access Request is made under the provisions of the Data Protection Act 1998,
many creditors will not provide agreements with a SAR, there is no actual obligation in the act for
them to do so, they claim agreements are " generic" in nature.
If these debts had not been acknowledged by way of agreed payments and these payments
still continue, the approach would e different.

The lack of an agreement give you bargaining power, agreement or not the debt still exists can
be reported to credit files and pursued for payment.

nem

[shibets]

Re: Help dealing with Four defaults and three DCA companies: Idem, Robinson Way & PRA

OK thank you Nem,

I got the advice to stop payments from a different forum i asked the same question on.
Sorry to ask, but just to confirm I should send a CCA out to each debt including the banks? and see what they come back and then use it as a bargain tool IF they dont have any proof of agreements.

If I send SARS to banks this will mean they provide any information they have on my file, which wouldnt help me negotitate any debts. But is it worth getting this information for a later date to reclaim any bank charges, as I have read on money supermarket that any reclaim on charges might be docked off my debt.