the worm that turned
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Anna1s1 started following the worm that turned
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3rd Party DCA Reporting Default
the worm that turned replied to the worm that turned's topic in Other Institutions
Thanks again - and yes I agree. I will wait and see what transpires. Looking through my correspondence I can see that they (3rd party) tried it on again late 2014 and early in 2015 and I made it EXTREMELY clear that no contract exists and denied all claims they made and explained that all future correspondence will be RTS. Nada since in over 2 years. Do you happen to know the timeline for provision of NoA? I would like to know to satisfy my own curiosity. -
3rd Party DCA Reporting Default
the worm that turned replied to the worm that turned's topic in Other Institutions
Thanks dx100uk. BTW I never received a Notice of Assignment, which I assume should have come from the 3rd party upon when they claim it was assigned to them by the original lender. Is there a time limit for the provision of a NoA? I suppose I could carry out a SAR but why stir up a hornets nest when the Default will drop off very soon. So therefore I assume the only outstanding point then is as to whether they 3rd party feels they have a claim to the alleged debt and if so will have approx 8 months to do something about it before it becomes statute barred. -
3rd Party DCA Reporting Default
the worm that turned replied to the worm that turned's topic in Other Institutions
Thanks for your input Uncle B. I just want to clarify a few points on what you have said. Is it 6 clear years from last payment to 3rd party or to original lender? Do you have a reference to such information i.e. is it in the statute you refer to (Limitations Act 1980)? As to the following: That is a bit of a contradiction there. If they didn't reject the settlement offer (and bear in mind they had 5 opportunities to do so but in each case physically removed a stapled cheque) then they must have accepted it. Actions speak louder than words, and as far as I am aware, the acceptance of an offer and formation of a contract does not need to be written. This of course would be down to a judge to decide upon if necessary. Personally, I don't really care how much correspondence a bank deals with, just how they act upon my correspondence. I recall hearing or reading something in the past whereby a financial institution can deal with payments received slightly differently when an account is in default, however I would like to see some case law on this if it exists. Does anyone know of any that may be relevant here? Many thanks again - TWTT -
Hello All - I hope you can offer some thoughts on the below please. I had a reasonably large CC debt with a large organisation and challenged the validity of their paperwork etc approximately 7 years ago. There was lots of correspondence between us but eventually the marked it as defaulted (soon to be 6 year anniversary of default). I made an offer to settle with original lender via 5 equal monthly payments for approx 12% of original alleged debt. This took the form of an offer in writing and with a cheque for the first payment stapled to the offer. They removed the cheque and cashed it and subsequently did the same for the next 4 cheques all attached to covering letters referring to the offer. Once all 5 payments were made I wrote to the CC organisation and confirmed that the account was settled and asked for them to stop reporting derogatory information with CRAs and mark account as settled. Instead they attempted to wash their hands of the account and sold it to a 3rd party. I have made it very clear to the 3rd party that I do not recognise them and have no contract with them. I have heard nothing from them in approx 5 years but they continue to report a Default against me with all CRAs and are severely limiting my chances of gaining a remortgage at a competitive rate or at all and as you can imagine my credit rating has been badly affected. So on to my questions at last! 1) when must the 3rd party stop reporting the Default, is it 6 years from the Default date or 6 years from any payment last received by the original lender? NB the 6 years from Default will end within 2 months and 6years from last payment within 8 months from now. 2) when the Default is over 6 years and they must stop reporting do all entries of it disappear or do they get removed one at a time month by month (I.e. Will there still be more recent Default entries present on credit file)? 3) in light of the above could the original lender get in hot water for selling a settled alleged debt and/or the 3rd party for attempting to collect on the same whilst reporting Default? If so what route would be best, FOS or court or both? If you need further details please ask. I look forward to hearing your thoughts! Thanks in advance
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They promised that they would offer me a chance to defend before applying for Judgment. As a LIP I assumed that would be an actual offer to defend. Silly me. What they in fact did was send me a threatening letter about paying the debt or otherwise they would apply for a Charging Order (which is not even possible without a CCJ or other order, which there wasn't at the time). Hardly an offer to submit a defence. Lovely bunch. This was after they had accepted a payment to bring matters to a conclusion and mark the account as settled with all CRAs. Oh, and then lying in a Witness Statement by saying they received no response from me, despite being in written communication with me at my new address. And I nearly forgot, they served papers at the incorrect old address, despite being aware that I had moved and whilst communicating to me at the new address. So all in all, rather sly and underhanded business!! Of course the Judge will be made aware of all of this, but whether he/she will care is another matter. I have lost all faith in the integrity of people. And before anyone says, you borrowed the money and therefore should pay it back: 1) according to the BoE Quarterly Bulletin Q1 2014, banks don't physically lend their own money (but hey that argument would get you nowhere despite being true); and 2) I offered to pay the bank money under a monthly agreement that they accepted, but they then started to send back the cheques, before then taking legal action against me. So I can show that a delay in filing a defence was as a result of me expecting an offer to submit a defence before they would apply for a Judgment, and I can also show that a copy of the application notice to lift stay and enter Judgment was never received by me because they were sending it to the old address, whether that was deliberate or just stupidity I cannot tell.