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Helpful Letters

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    Letter informing Creditors of situation with Compass if setting up your own DMP

    Dear Sirs

    Ref: xxxxxxxxxxxxxx

    I am writing to inform you that after careful consideration I have now decided to administer my own Debt Management Plan. I was previously using the services of an FCA regulated Debt Management firm, Compass Debt Counsellors, however they have recently had their FCA authorisation removed and entered Administration and as such are no longer able to manage my payments.

    In order to assist me with the setting up of new arrangements I would be grateful if you could provide me with a detailed statement and current balance of any accounts held with you, with a list of all transactions made on the account since XXXXXX (date you started with Compass) and details of where payments should be made to. I would be grateful if you could continue to freeze any interest and charges on the account.

    Sadly it appears that Compass Debt Counsellors were not acting in my best interests and I have been informed I am likely to have lost a large amount of money that was paid to them with a view to making payments towards the debt held with you. This is, as I am sure you will understand, quite devastating, however I am making best efforts to sort out my finances to enable me to get back on track, and ask for your patience and forbearance in handling my account.

    Once I have received the information from you I will contact you with a revised proposal as soon as I am able. Thank you in advance for your assistance in this matter.

    Kind regards

    xxxxxxxxxx

    Your Name
    Budget Sheets
    Personal budget sheets

    citizens advice (attached) ( http://legalbeagles.info/forums/atta...9&d=1460539885 )

    Latest Common Financial Statement ( EXCEL ) attached ( http://legalbeagles.info/forums/atta...0&d=1460540369 ) . If you need help working out your budget you can work through the Budget Plan - attached ( http://legalbeagles.info/forums/atta...3&d=1460540670 )

    National Debtline online budget sheet calculator - https://www.nationaldebtline.org/EW/...Step_2_11.aspx

    National Debt Line -blank print out - attached ( http://legalbeagles.info/forums/atta...2&d=1460540580 )


    CCA Request
    Dear Sirs

    Ref: XXXXXXXXXXXXXXX

    Please treat this letter as a formal request for you to supply a copy of the Consumer Credit Agreement 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


    SAR ( Subject access Request under the Date Protection Act ) ( only needed if a simple request for information is stonewalled )

    Dear Sirs

    SUBJECT ACCESS REQUEST - DATA PROTECTION ACT
    Ref: XXXXXXXXXXXXXXX

    Please treat this letter as a formal request for copies of all documents and information held about me, XXXXNAMEXXXXX, by your company.

    In order for me to consider my position regarding this matter I require you to send me copies of all information held about the account to include, but not be restricted to;

    Full list of Transactions made on the account
    Notice of Assignment from xxxxxxxxxxx to yourselves
    Copy of any agreement and terms and conditions relating to the account
    Copies of any communications that relate to this account whether send or received from myself or any third party.
    A full statement of account

    I enclose a £10 postal order in respect of the maximum statutory fee for a Subject access Request.

    If you need any more information from me, or a fee, please let me know as soon as possible.

    It may be helpful for you to know that a request for information under the Data Protection Act 1998 should be responded to within 40 days.

    If you do not normally deal with these requests, please pass this letter to your Data Protection Officer. If you need advice on dealing with this request, the Information Commissioner’s Office can assist you and can be contacted on 0303 123 1113 or at www.ico.org.

    Yours faithfully,


    YOUR NAME

    Making an Offer ( following companies response to first letter)
    Dear SIrs

    ref: xxxxxxxxxxxx

    Previously I wrote to inform you that I would be taking over managing by Debts myself following the failure of my Debt Management firm, Compass Debt Counsellors. Thank you for sending me the relevant information with regards to the debt held with your company.

    I enclose a copy of my Financial Statement which gives full details of my situation. I offer to make payments of £XX.XX each month based on an equitable distribution of available income. Whilst I appreciate that this offer is small, I feel it is the only realistic and sustainable one in the circumstances. I will contact you immediately if there is any change in my circumstances.

    I would ask that you continue to suspend interest on this account to enable me to make some inroad into this debt.

    Please let me know if this offer is acceptable to you and forward me details of your account details in order to make payment. I am happy to set up a standing order to be paid on the XX of each month.

    Your patience and co-operation in this matter is greatly appreciated and I look forward to receiving confirmation of your acceptance of this proposal.


    Kind Regards


    xxxxxxxx
    “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

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