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Compass debt company

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  • #16
    Re: Compass debt company

    Thanks Wingco xxxx

    Just a small disclaimer on the CCA - if they don't send a copy within the 12+2 the debt is temporarily unenforceable - they can come up with it at a later date and enforce. The 12+2 is kind of a left over from when the 2006 changes to the CCA removed the criminal sanctions of being late responding to a request.

    Enforcement = getting a judgment in court - they can still report to the CRA's, and bring court action ( which you then would defend if there's still no agreement ) If you fancy having a read of the Court Claim forum you'll see how things work xx

    ( ps. any chance of those Abbey docs ? - I wouldn't keep bugging you if it wasn't important )
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

    Comment


    • #17
      Re: Compass debt company

      Hi Taff

      The same has happened to me. The address for the administrators is info@aabrs.com or rmrfinancialserviceslimited@aabrs.com . AABRS are the administrators. They will send you a claim form to lodge your interest in any funds held in your name. There is a meeting of clients on 21st March which once you have declared your interest you will be sent full details of. I'm going largely out of interest as I don't expect to get any money back although I will lodge my interest on the AABRS form.

      I have contacted my creditors by letter. Don't talk to any of them on the phone - get everything in writing and largely use signed for post. Becasue you are no longer paying Compass' fees, you should have no problem paying each debt with the same amount and you will be better off. Alternatively, you can offer them slightly more -why would they refuse?

      Doing it yourself based on the amounts Compass paid out is simple. Aidie (anther Compass client posting on here) and I both contacted Stepchange and we weren't very impressed; they are far less flexible and helpful as Compass. But they are free and many others like them.

      All you have to do is write advising the creditors that you are an ex-client of Compass, then you can:
      1. continue payments and give a figure at or slightly above the Compass payments.
      2. Send a CCA letter (details are on this forum) which enables you to get full details of your credit agreements and balances. If they can't provide this information within 12+2 days the loan becomes unenforceable - which really only means they can't enforce full repayment in Law; you still owe the money. Apparently some creditors give up when they receive a CCA letter. I've not had any replies so far but there are still l6-8 days to run. When you send the CCA letter you need to include a £1 postal order with the words "For statutory fee use only". Send it recorded/signed for post.
      Just Google the companies who hold your debts and you will find their addresses.

      The secret is not to answer the phone or put it down having politely asked them to put everything in writing. You are not obliged to talk to them.

      Keep a comprehensive file of your letters.

      And DON't Worry. There is loads of excellent help on here and many people in the same boat.

      If you have any questions, just ask on here.

      Wingco

      Comment


      • #18
        Re: Compass debt company

        In a Daily Mail Article published today ( Saturday 12th ) Alan Simon, of AABRS insolvency specialists, said at least 500 clients are thought to be affected. Asked if their money had been safeguarded, he said: ‘We don’t know where it is yet, we are still looking into that. We are working with the FCA.’
        #staysafestayhome

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

        Comment


        • #19
          Re: Compass debt company

          Thank you Wingco still a bit mind blown at the moment but my union have put me in touch with a company called lighthouse still waiting for a call back, would find out just on a weekend. But will look into everything you have put here thanks again

          Comment


          • #20
            Re: Compass debt company

            Lighthouse ? ? Do you have the details of them.

            Theres one DMP company I can see called Lighthouse but they lost their licence last May.

            Make sure you check out any company first https://www.fca.org.uk/register - on there and look around the forums - google etc.
            #staysafestayhome

            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

            Received a Court Claim? Read >>>>> First Steps

            Comment


            • #21
              Re: Compass debt company

              The documents from Abbey went in the post this morning - you should get them Monday or Tuesday xxx

              Comment


              • #22
                Re: Compass debt company

                Appreciated
                #staysafestayhome

                Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                Received a Court Claim? Read >>>>> First Steps

                Comment


                • #23
                  Re: Compass debt company

                  Originally posted by taff_dragoness View Post
                  Thank you Wingco still a bit mind blown at the moment but my union have put me in touch with a company called lighthouse still waiting for a call back, would find out just on a weekend. But will look into everything you have put here thanks again
                  Hi Taff

                  Be very careful with ANY DMP company. You can use this site and do everything yourself and look after your situation - you know it best. Unions aren't necessarily experts on DMPs although they do a lot to help their members - it's just not the best first port of call for this type of specialist help. Nibbler, Openlaw15, Debt Camel and Amethyst and many others will give you all the assistance to do this correctly. And I'm going through it about 2 weeks ahead of you. I'll keep you posted on my progress. So far 8 out of 12 'creditor companies have accepted my self-managed DMP.
                  I've sent out 6 CCA letters (Templates in the library on this site) to the credit card Debt Collection Agencies (DCAs)
                  Don't panic or worry - there are thousands of people in our boat and the DCAs buy our debts for probably less than one tenth of the debt. They then push people for settlements or large repayments. But having been in a DMP with Compass, you are well placed simply to continue with their agreed payment levels but without Compass fees. The CCA will protect you against demands for full settlement of your debt.
                  Last edited by Wingco; 12th March 2016, 11:19:AM. Reason: Typo again - must do better

                  Comment


                  • #24
                    Re: Compass debt company

                    Originally posted by Amethyst View Post
                    In a Daily Mail Article published today ( Saturday 12th ) Alan Simon, of AABRS insolvency specialists, said at least 500 clients are thought to be affected. Asked if their money had been safeguarded, he said: ‘We don’t know where it is yet, we are still looking into that. We are working with the FCA.’
                    I think I know where it is!!!!!!!!!!!!!!!!!!!!!!

                    If it were safe in another client account, surely they would have found it by now. If it's disappeared no doubt fraud investigations will be started?

                    500 clients - I hope the venue for the administrators meeting is big enough.

                    Comment


                    • #25
                      Re: Compass debt company

                      I suspect very very few of the people who have been caught up in this will attend the meeting, it will mainly be the big creditors ( eg payment services provider, bank loans, photocopier rental lol etc )

                      Did you read the Bournes thread ? http://legalbeagles.info/forums/show...administration ( it's a bit long so skip to the end.... oh it's still not sorted, and it all kicked off Sept 2014.

                      I really really hope this isn't as bad as that one.


                      ( nice avatar )
                      #staysafestayhome

                      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                      Received a Court Claim? Read >>>>> First Steps

                      Comment


                      • #26
                        Re: Compass debt company

                        I see they are I the news today, Rob Solloway and his MP wife not a pleasant story.

                        nem

                        Comment


                        • #27
                          Re: Compass debt company

                          Originally posted by Amethyst View Post
                          I suspect very very few of the people who have been caught up in this will attend the meeting, it will mainly be the big creditors ( eg payment services provider, bank loans, photocopier rental lol etc )

                          Did you read the Bournes thread ? http://legalbeagles.info/forums/show...administration ( it's a bit long so skip to the end.... oh it's still not sorted, and it all kicked off Sept 2014.

                          I really really hope this isn't as bad as that one.


                          ( nice avatar )
                          Thanks Amethyst. I'm sure a fair number of clients will be there too. I will make a point of being there purely out of interest to learn more about what's happening and the process from here onwards.

                          I will report back.

                          All Beagles are cute!

                          Comment


                          • #28
                            Re: Compass debt company

                            my union have put me in touch with a company called lighthouse
                            deleted - [MENTION=1508]Nibbler[/MENTION] has found the answer
                            Last edited by Debt Camel; 12th March 2016, 21:58:PM.

                            Comment


                            • #29
                              Re: Compass debt company

                              Not this, surely?

                              http://www.unitetheunion.org/how-we-help/memberoffers/memberbenefits/unitefinancialadvice/

                              http://www.pcs.org.uk/en/about_pcs/m...ial_advice.cfm

                              https://www.prospect.org.uk/advice_a...inancialadvice

                              https://www.usdaw.org.uk/Members/Dis...nancial-Advice

                              Complimentary initial consultation
                              Members of Unite are entitled to a complimentary, no obligation consultation with a Lighthouse Financial Advice professional financial adviser.

                              Comment


                              • #30
                                Re: Compass debt company

                                Originally posted by Nibbler View Post

                                Those are the ones I mentioned earlier Nibbler ( in chatbox), if it is they, then they have no licence for debt management plans and may not hold client money.

                                Debt-counselling

                                Limitation
                                Limited to counselling no debt management
                                Limited to investment advice and other mortgages


                                They've just added a couple trading names too, one just yesterday!

                                Trading Lighthouse Financial Solutions 03/02/2016
                                Trading Lighthouse Group Financial Solutions 11/03/2016
                                Really don't seem appropriate to refer someone to who has just had a DMP fail on them.
                                #staysafestayhome

                                Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                                Received a Court Claim? Read >>>>> First Steps

                                Comment

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