TC2003 v FD, Metropolitan and Westcol

[tc2003]

Just thought I would relate my story, I'm not asking for advice, but if any reader thinks that they can make a useful contribution, then thank you.

 

2003, sucessful accountancy lecturer, healthy FD current account and a £7000 flexiloan. Following a violent incident I had a stroke and had to give up full time work, but was still able to service my commitments. Summer of 2006, mental breakdown and now living alone and receiving incapacity benefit. All repayments stopped.

 

FD convert flexiloan to fixed load at £70 per month repayment. I didnt sign anything, but didnt object as interest rate and repayment amount was lower.

 

Made a few payments then chose not to make anymore, no assets, no job, nothing to loose.

 

On receiving my first letter from Westcol, made arrangements via my local CAB for repayments of £1 per month to westcol, which I have since maintained paying one week early just to be sure.

 

I have a letter of acceptance from westcol.

Have since been contacted by metropolitan, demading repayment of the full amount, they have advised me of a vsit on the 4th Jan.

 

Contacted Westcol to see what the score was, they have advised me that the account has been returned to their client (Metropolitan) and that I should deal with them, even though Westcol have received two repayments.

 

I plan to have a session with CAB on the 4th, to see just what is happening.

 

I'm not bothered or upset, as I have said, I have no assets or income other than Long term incompacity benefit.

 

Any comments on ths?

[Penfold92]

HI TC,

 

I know this is probably too late as the 4th has gone by, but these vultures are incredible and the lines they come out with almost as bad!

 

Have a read of the the following threads and they may help ease your mind! I hope it is sorted, but if it isn't the easiest way to solve your problem is to CCA them. This is merely the official way to request the true signed agreement made under the CCA 1974 Act. I assume your loan was such a thing as it was not a secured loan...

 

Letter N I believe is the one you are after:

http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

 

http://www.consumeractiongroup.co.uk/forum/general-debt/108467-basic-introduction-consumer-credit.html

 

http://www.consumeractiongroup.co.uk/forum/general-debt/55579-oft-guidelines-debt-collection.html

 

http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/84273-oft-debt-collection-guidance.html

 

http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/123754-debt-collection-practice-review.html

 

These are a good read and will help in any event...

 

Good Luck,

 

Penfold

[tc2003]

Hi penfold,

 

Thanks for being interested, and offering your oppinion. The 4th came and went, I had fresh cakes and coffee ready for my expected visitor, but sadly, no shw, not even a stripey envelope.

 

I know that the very first action the CAB took, was to CCA Westcot, and he would not have negotiated terms without that.

 

I finally got a reply from Westcot, saying that they had passed my account, and money paid to date, back to Metropolitan, cant understand this has I have a letter of agreement from Westcot.

 

Anyway, I filled events since that agreement with the CAB, but as yet, no feedback. The time has now come to make a payment for this month, but I have no details of how to make it to Metropolitan. So for safety, I have paid £1.00 to my original First Direct bank account, and £1.00 to Westcot, and have flagged both of that action confirming that I have more than exceeeded the agreement.

 

Really do need to know Metropolitans intensions though. I suspect that they want me to default any agreement with Westcot.....

[Penfold92]

To be honest TC it does not matter what their actions are as long as they do not have the agreement there is nothing they can do, combined with your financial situation they are on a loser...

 

Shout if you need to, but I doubt you will...

 

Take care,

 

Penfold