Compass debt company

[Wingco]

Re: Compass debt company

Hi, when sending the CCA letter out to creditors who is the postal order made out to. Only we have 10 creditors .

Hi Joseph
When sending out a CCA, the postal order isn't made out to anyone - just write on both sides above the payee line: "For Statutory Fee Use Only". There is a line in the CCA template (on this site) that should state that the fee is only to be used for this purpose and not paid in to your debt balance as this could prolong the process if you are hoping to go Statutory Barred (SB = 6 years with no payments making the loan void). SB is fairly difficult to achieve as the Debt Collection Agencies (DCAs) tend to come after you in last few months of the 6 years, bless them. But best to play safe, plus it shows you know what you are doing giving you the upper hand.
But do make sure you send your CCA recorded signed for post.
Wingco

[Celestine]

Re: Compass debt company

Have a listen to the Radio4 piece on this from last Wednesday. (6mins in)

http://www.bbc.co.uk/programmes/b0766g4x

[Joseph Williams]

Re: Compass debt company

They are mostly a debt purchaser, who buy debts from a very wide range of companies, so impossible to make any meaningful list.



In first instance, unless you have specific reason to know otherwise, it goes to and is paid to the company that currently holds the account.

Ok thanks . Abbey solicitors said they have sent these letter out, but I not hearing very good things on here about Abbey . I spoke to a man called David who seems very helpful, seems like people are cancelling the agreement , so I'm even more stressed and confused . Abbey have had two payment from us so far .

[Nibbler]

Re: Compass debt company

Does anyone know who arrow global collect for?

They are mostly a debt purchaser, who buy debts from a very wide range of companies, so impossible to make any meaningful list.

Hi, when sending the CCA letter out to creditors who is the postal order made out to. Only we have 10 creditors .

In first instance, unless you have specific reason to know otherwise, it goes to and is paid to the company that currently holds the account.

[Joseph Williams]

Re: Compass debt company

Nobody forced them into it. They are a large independent law firm and make their own decisions.

Hi, when sending the CCA letter out to creditors who is the postal order made out to. Only we have 10 creditors .

[Gilltheblackcat]

Re: Compass debt company

Does anyone know who arrow global collect for?

[Wingco]

Re: Compass debt company

[MENTION=84013]Raspingolive[/MENTION]

Here is another version of the CCA letter posted by Amethyst very recently - I have made some amendments to suit you.

Wingco

Your Address
Debt Collection Agency's Address

(Date of posting) 20th April 2016
Dear Sirs

Ref: XXXXXXXXXXXXXXX (Use your Compass ref or any other ref specific to your debt.)

Please treat this letter as a formal request for you to supply a copy of the Consumer Credit Agreement relating to the above reference as is my entitlement under sections 77-79 of the Consumer Credit Act 1974.

I require you to provide me with a true copy, or reconstituted copy of the credit agreement relating to any account you deem to be mine, together with any other documentation the Act requires you to provide. I expect you to comply fully and properly with this request, within the statutory time limit.

Your obligation also extends to providing me with a statement of account. I enclose a £1 postal order, which represents payment of the statutory fee payable under the Consumer Credit Act. I understand that a copy of my credit agreement should be supplied within 12 working days from the date of this letter.

If it is your view that you are not the creditor, s.175 of the CCA1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189.

I understand that under the Consumer Credit Act, creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.


Yours faithfully,


YOUR NAME

[EXC]

Re: Compass debt company

and truly believe they have been put in a situation they didn't want to be in either

Nobody forced them into it. They are a large independent law firm and make their own decisions.

[enaid]

Re: Compass debt company

This has just been posted on the FB thread, it may also help you decide x

Just got off the phone from Abbey after they recieved my letter of cancellation I was very happy with their response and understanding and truly believe they have been put in a situation they didn't want to be in either.

[EXC]

Re: Compass debt company

does anyone know anything about the solicitors "abbey solicitors" who compass passed clients on to before closing up shop?

I moved my case to Abbey solicitors before getting the shocking news that compass had had their licence removed.

I have my concerns that I am just throwing bad money after bad.

I have looked at self management via links above.

Please be gentle as I am new to this.

Dan

Hiya and welcome.

We don't reccomend anyone going with Abbey. I don't know what you've been told of their 'services' or how they were presented to you but they are not a debt management company. None of what you pay Abbey goes to your creditors. Rather, they claim to look into whether the debts you owe might be unenforceable. In our view you're just throwing good money after bad. I would contact them and cancel any agreement you have with them and either set up your own self managed plan or use a free debt management service such as StepChange.

[Nibbler]

Re: Compass debt company

There is no obligation to provide a copy of the DN under a s78 request. In fact, there is no real requirement for them to retain a copy of it under any legislation, except perhaps records to show one was sent, but not a copy itself.

Statement of account is not a set of statements, but a statement of

- the status of the account

- the amount currently payable, which since default is the whole balance

- amounts and dates of any future payments that may become due, or how they will be ascertained, which would be none as whole balance is due and payable now.

[Wingco]

Re: Compass debt company

I've received a few, I believe, non-compliant CCA responses over the last week.

Link Financial seems not to know what it has agreed already re a payment plan, so I wil stick to the previously agreed payment. There was no Default Notice (DN) letter, no assignment letter. nor any signatures from myself or MBNA on the original CC contract. I will bring this to their attention and see what they say. But it was a friendly and helpful letter. Let's hope it stays that way as I am paying them more than Compass did, but not a lot.

Lloyds were less friendly and managed to omit the "Signed Statement of Account", and also omitted the DN other than saying they defaulted me in March 2014 when Compass started my DMP.

Lloyds state: "By providing you with the documents attached to this letter, we have satisfied our obligation to provide a copy of the executed agreement under Section 78." Adding "We will not be entering into any further correspondence with you regarding the requirements relating to the provision of copy agreement." We shall see about that!
As they were rather pompous in their response to me, I will remind them of their duty to provide all of the information required by the CCA.
I am assuming they all have to provide the DN and a full statement of account - they gave the balance as of Mar 2014 but nothing else? They are implying that they don't have to include the DN by listing just 3 items:
1. Signed statement of account - they failed to enclose it.
2. Reconstituted version of the current ts & cs.
3. Reconstituted version of the original executed agreement (undated and unsigned - I appreciate that it doesn't have to be).

So thing are moving forward slowly. Still waiting replies to other CCAs.

What fun!!!!

Wingco

[danspence000]

Re: Compass debt company

does anyone know anything about the solicitors "abbey solicitors" who compass passed clients on to before closing up shop?

I moved my case to Abbey solicitors before getting the shocking news that compass had had their licence removed.

I have my concerns that I am just throwing bad money after bad.

I have looked at self management via links above.

Please be gentle as I am new to this.

Dan

[Wingco]

Re: Compass debt company

How do I send a private message on here?

click on the person's name top left of their post and you wil lbe given the option to PM them. you have to have made 3 posts and allow about 30 mins for the admin to catch up - I think you will have immediate access to PM by now.
Wingco

[Cat80]

Re: Compass debt company

How do I send a private message on here?