1st Credit Advice (Settlement Offer) - QuickQuid CashEuroNet UK debt

[kingofkings]

Hi,

 

I seem to have a letter from 1st Credit. For a debt that I must of forgotten about, before Christmas they sent me a letter about the debt and that I owed it and I didn't reply as I was busy at the time so left it to one side for the moment.

 

Now today I received a letter from them which looks a bit strange, so not sure whether I should reply to it, and if I do what would they accept.

 

Here is the letter.

 

Dear Sir / Madam

 

RE Your agreement with CastEuroNet UK,

Relating to Account Number: #####

Balance Outstanding: £387.00

 

We are able to offer you a generous discount if you settle your account by a mutually agreed 'full & final settlement paymeny'. Please advise me whether this is something you wish to consider and, if so, the offer you are prepared to make. Please use the section below and return this form to us. We will then advise you whether we consider this offer acceptable.

 

Once the settlement payment has been paid we would arrange for your credit file to record the full debt as 'satified'.

 

Yours faithfully.

 

xxx

 

Collections Department

 

-----------------------------------------------------------------------

(The Form)

 

Yes, I am prepared to make a full and final settlement offer. My offer is; £....

Signed.............

 

-----------------------------------------------------------------------

 

I am not prepared to make a full and final offer. I am prepared to offer a monthly paymeny of £....

Signed............

 

-----------------------------------------------------------------------

 

I am not prepareed to make a full and final settlement offer or a montly paymeny offer.

Signed..........

 

-----------------------------------------------------------------------

 

My telephone number is:-

 

-----------------------------------------------------------------------

 

So it seems if I make a full settlement I can get the debt lowered if I pay in full, but if I don't make an offer I need to state how much I am prepared to pay each month.

 

What I'd like to do though is make an offer, and pay montly.

 

I'm not sure where I stand on this, and whether it's worth it, seeing as they would have my signature.

[twofoot]

Don't speak to them on the phone under any circumstances. Don't make any offer. Do ask for a CCA and tell them you have not been told by the original creditor that they were passing the debt on. Head the letter, I acknowledge no debt to your company. Send a £1 postal order for CCA, not a cheque. Come back to this same thread and keep us informed. One more thing, if this debt is over 6 years since last payment or acknowledgement it is statute barred.

[cymruambyth]

If you had forgotten about this, how old is it and whe did you make your last payment?

If they are offering a settlement figure this quickly then I doubt that they have any paperwork to enforce the aaleged debt and are trying to get money back before it is querried.

'Satisfied' doesn't necessary mean cleared (I think).

Sorry but I do not trust 1stC.

[cerberusalert]

That letter is a sneaky way of trying to get you to admit the debt. Send the CCA as suggested.

[kingofkings]

Thanks, I will send them a CCA.

 

I'm not sure how old the debt is, and I don't think I've borrowed any money that amounts to £387 as it seems an odd amount. I meant even with interest added I don't think it could be a rounded figure.

 

I will send a CCA on Monday morning and see what comes back.

 

Another thing, is that I've had no calls at home, but they seem to be calling my office phone at work. But I thought that Debt Companies weren't allowed to contact you during work or on a work line am I correct?

[dx100uk]

so it sounds like they have very outdated info then?

i'd get that CCA off, or totally ignore them,

just another DCA fishing trip for a mug to fleece

 

dx

[Werner M]

.....AND DO NOT GIVE THEM YOUR PHONENUMBER !!!!. werner m.

[kingofkings]

I have now received a copy of the signed credit agreement,

 

It's a 42 page contract, and here is a copy of the front page and it's a digital signaure on the second page, which I have not scanned in.

 

Copy of Signed Agreement

 

So one would assume that it's now legit and I will have to contact 1st Credit to arrange repayment, or wait for them to contact me.

[ODC]

Interest rate 8054.10 %!!!!!!!!!!!!!!!!!

 

OMG That is extortion. The letter you got from Worst Credit is their standard one to get you to admit a debt and give them your phone number.

[DonkeyB]

APR over 8000%? Bl**dy hell! Was this a 'payday' loan or similar?

 

Do you recognise the paperwork? Don't acknowledge it - wait for more advice...

[kingofkings]

Coming back to it, I believe it is Payday Loans: Quick Payday loans @ www.QuickQuid.co.uk

 

Their Fees - Payday Loans: Quick Payday loans @ www.QuickQuid.co.uk

[DonkeyB]

The original creditor is also a non-UK corporation.

 

Did you receive any letters saying the loan had been assigned to 1st Credit? Did you receive any kind of default notice? Get together all the paperwork you can and have it ready to post.

Edited February 26, 2009 by DonkeyB

[kingofkings]

Here is a copy of the letters I have received from 1st Credit. And these are the only letters I have received.

 

Settlement Offer Letter

 

Reply to Request for Copy Agreement

 

These are the only documents I have from 1st Credit, and they tried contacting me at work, but not on my home number.

[DonkeyB]

You need to ask them for a copy of the notice of assignment which they appear to claim to have sent you. You could get this by specifically asking for it in a Subject Access Request (see templates section) but would cost £10. You should also ask for a copy of the default notice from the original creditor. Without a properly served default notice nor a notice of assignment, they would come unstuck at the first hurdle in any legal action.

 

(Chances are they'll just make them up and say they were sent...)

[ODC]

And of course the Notice of Assignment should have been sent by recorded delivery or registered post.

[kingofkings]

Update on the situation, after 1st Credit sent me the CCA they have no contacted me since, and today I received this letter, about legal proceedings...

 

I would not like to deal with these guys over the telephone as a friend who lost his job had dealings with them and they wouldn't accept any offer he gave them other than full repayment over the phone there and then.

 

Copy of Legal Proceedings Letter

 

(I have reduced the quality for faster load times, and also so it doesn't waste your ISP's bandwidth limit)

[Dotgirl]

kingofkings

 

The letter you received after requesting CCA and the legal proceedings letter is identical to the one that I received, even down to the date it was printed! Only difference is that i have yet to receive a copy of my alleged CCA. So it appears that they must do a major print run on the 6th of the month!

I was told that my alleged debt was assigned to them in 2005, yet I only heard about it in February 2009!

They have until tomorrow to comply with my request for CCA and then Account is in Dispute. I am also sending letter of complaint to OFT as they are already in breach of OFT guidlines issued 19th Febraury 2009 bu sending me this LEGAL PROCEEDINGS threat. i will be keeping a close eye on what you post as it appears to be identical to my own situation!

Dotgirl

[kingofkings]

I've not got a problem with you keeping a close eye in, I mean if they sent me a letter asking to repay, rather than just a settlement offer and now this legal proceedings because I seem to have not contacted them.

[kingofkings]

Update:

On March 19th, I received the following letter from LCS Solicitors on behalf of 1st Credit.

 

LCS Solicitors Letter

 

After reading this letter, I didn't reply I didn’t replay immediately, in fact I didn’t reply to this letter until April 2nd. And I had heard nothing from 1st Credit or LSC during that time, the link below is a copy of the letter that I sent to LCS Solicitors.

 

Letter to LSC Solicitors

 

After I had sent this letter, I then got the following letter in the post, which was dated 03/04/2009 which is the same date that my letter that I sent Recorded Delivery arrived with LCS. So it may of just been a coincidence about the date, but this letter was asking me if I wanted to improve my credit rating, and stating that it is likely there is now a default on my account as a result of non-payment of the debt in question, the letter is linked below.

 

1st Credit – Do you want to improve your credit rating?

 

A few days past and I received a letter from 1st Credit, dated 06/04/2009 to say that they’ll be contacting me with regards to my dispute following the letter that I had sent them.

 

1st Credit – You have raised a dispute / query

 

Another few days past and then I got the following letter, dated 07/04/2009. Which was 1st Credit introducing themselves to me and how they have been assigned the debt I owe from CashEuroNet UK.

 

1st Credit – Letter of Assignment.

 

Now what I need to know is where I now stand, I have asked 1st Credit for a copy of the notice of assignment for the debt, and it seems they have sent me one, but it does not look like a copy, but just a letter drafted up and sent, without a copy of the original letter and date. I have also asked for the default notice from CashEuroNet UK, and I have not received this as of writing this.

 

What can 1st Credit do at this stage, and more importantly what can I do at this stage, any feedback and advice would be appreciated.