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I am acting on behalf of my wife in relation to a default notice she received from PRAC Financial.
It Reads;
This is a default notice served under section 87 (1) of consumer credit act 1974 in respect of a credit agreement then agreement number made between yourself which has my wife's name and address and Instant Cash loans ltd t/a Payday UK which has their address on the 15th May 2013
We are sending you this notice because the following breach of the agreement has taken place with original creditor prior to debt being sold to us.
* You have failed to make payments to instant cash loans ltd t/a Payday UKof your contractual monthly payments on their due dates as required by clause 2 of the agreement
As previously advised we have acquired the above debt from instant cash loans t/a Pay day UK please be reminded that only PRAC financial limited may give valid discharge of this debt and we have appointed BW Legal Services Ltd as out Representatives
To remedy the breach you are required to pay the above balance due before 3rd October 2017 to BW Legal
As a consequence of failing to comply with this default notice within a period of fourteen days of the date shown, Your credit agreement will be terminated and we may carry out further collections activity which may include further letters and calls/or take court action
As stated above we are required to send you this notice under section 87 (1) of the consumer credit act 1974, Please note that a default may already been registered with the credit reference agencies in respect of your account prior to receiving this notice, Please be advised that PRAC Financial will not make any amendments to your file as a result of issuing this letter, The amount of funds which we will demand repayment of is £725.50
I then receive another letter on same day from BW Legal it says why is PRAC financial sending you a default notice
Your account was defaulted by instant cash loans ltd t/a Pay Day UK on 1 November 2013, Pursuant to the consumer credit act 1974, The originating creditor is required to issue you with a default notice following a breach of the agreement , Our client purchased the debt from the originating creditor on 9th December 2016and for goods order, is re-issuing the default notice again.
My wife cannot remember receiving any such default notice is 2013, Any advice on how I should proceed in relation to this would be much appreciated, Thank you
I am acting on behalf of my wife in relation to a default notice she received from PRAC Financial.
It Reads;
This is a default notice served under section 87 (1) of consumer credit act 1974 in respect of a credit agreement then agreement number made between yourself which has my wife's name and address and Instant Cash loans ltd t/a Payday UK which has their address on the 15th May 2013
We are sending you this notice because the following breach of the agreement has taken place with original creditor prior to debt being sold to us.
* You have failed to make payments to instant cash loans ltd t/a Payday UKof your contractual monthly payments on their due dates as required by clause 2 of the agreement
As previously advised we have acquired the above debt from instant cash loans t/a Pay day UK please be reminded that only PRAC financial limited may give valid discharge of this debt and we have appointed BW Legal Services Ltd as out Representatives
To remedy the breach you are required to pay the above balance due before 3rd October 2017 to BW Legal
As a consequence of failing to comply with this default notice within a period of fourteen days of the date shown, Your credit agreement will be terminated and we may carry out further collections activity which may include further letters and calls/or take court action
As stated above we are required to send you this notice under section 87 (1) of the consumer credit act 1974, Please note that a default may already been registered with the credit reference agencies in respect of your account prior to receiving this notice, Please be advised that PRAC Financial will not make any amendments to your file as a result of issuing this letter, The amount of funds which we will demand repayment of is £725.50
I then receive another letter on same day from BW Legal it says why is PRAC financial sending you a default notice
Your account was defaulted by instant cash loans ltd t/a Pay Day UK on 1 November 2013, Pursuant to the consumer credit act 1974, The originating creditor is required to issue you with a default notice following a breach of the agreement , Our client purchased the debt from the originating creditor on 9th December 2016and for goods order, is re-issuing the default notice again.
My wife cannot remember receiving any such default notice is 2013, Any advice on how I should proceed in relation to this would be much appreciated, Thank you
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