Compass debt company

[CLS2015]

Re: Compass debt company

There are variations of contract but no-one I believe has anything about a savings pot - this came from the sales people and in phone calls with the direcors. The clients are seeing on their statements a 'balance' figure at the bottom of their statements - this equates to the amount that is assumed to be in their pot but it doesn't say that. There were people at the meeting who swore blind it was in their contract but when they looked it wasn't there. x

I lost my piece of paper, but the hard sell was that it was a secured pot for full and final payments.

When they rang me, and me them, the money was definatly for paying off.

"we pay them a pittance for ages, then say, 'do you want to be paid at this rate ad nausem or will you accept a closing payment of £much less than balance"

in hindsight well dodgy, when you were in a financial and mental blackhole a godsend.

[Wingco]

Re: Compass debt company

There is a much better chance of F&FS if you have sent out CCA letters, and not received replies - I have had no correct replies and only one has replied at all (Robinson Way), so that tells me none of mine are enforceable. But I will continue to pay token amounts until I have sufficient to offer a few F&FS amounts at around 30-40% of the original debt. But we need to share data with others in a confidential way - so if Cabot, Robinson Way, NCO Europe, Link etc. settle for 25% we can let others know.
Wingco

[CLS2015]

Re: Compass debt company

I am willing to trust the current IP at the moment. If it all goes tits up, we can use other routes after....

[Compass]

Re: Compass debt company

I hope these help

[Amethyst]

Re: Compass debt company

You Sir are a star. Thank you.

The contract is the same as the copy I have - of course nothing in there about the savings parts, so that script is really REALLY helpful.

Do you have the next page ?

[EXC]

Re: Compass debt company

I hope these help

That's helpful, thanks.

I can't access the 3rd page, can anyone else?

[Nibbler]

Re: Compass debt company

OK here EXC, but vBulletin can glitch if too many are trying to view.

[enaid]

Re: Compass debt company

he he page 3 f&f savings pot

[Nibbler]

Re: Compass debt company

he he page 3 f&f savings pot

Nothing about any ring-fenced or trust account though.

[Wingco]

Re: Compass debt company

It's all very cleverly worded: "We aim to get you debt free". "We can't say how long it will take but...."

The protection insurance doesn't exist now - I asked that question at the liquidator's meeting and it was one where Rob Solloway actually looked up and replied "No". If the policy never existed, that too could be fraud. But one of the other Compass clients has said on here that her policy with L&G had been cancelled without her knowledge. It is something we can investigate because my understanding of insurance is that you can claim in retrospect on a cancelled policy if it was in effect when the Compass failure happened or started. Can anyone advise?

[Amethyst]

Re: Compass debt company

Did anyone have any policy documents from L&G ( or compass ) ? That would be the best starting point to investigate that side of things. ( for fraud purposes as it is of course unlikely to get anything back - HOWEVER as it would have been missold there MIGHT be an avenue via L&G )

[enaid]

Re: Compass debt company

Nothing about and ring-fenced or trust account though.

Well how do they explain where that money was placed? How many creditors did they offer 2k to or a fiver a month? PPI included in your monthly payment, what a joke.

[Wingco]

Re: Compass debt company

Hi Nibbler
It's astonishing how nearly everyone thought they had a pot and yet there is no mention of it in their paperwork. But certainly the salesman who came to our house clearly explained the process and how the pot builds alongside the Compass fee of 10%. He wrote it all down on a sheet of blank paper (clever), but I can't find it despite having the original Compass file folder.
Wingco

[Nibbler]

Re: Compass debt company

It is implicit in the assertion that it will be 'saved', though with no legal definition or contractual guarantee of how or if that will be.

[Amethyst]

Re: Compass debt company

Default's don't stop you getting a mortgage ? lol, new one on me.