CRA Reports - HFO & Welcome Finance

[ryjayel]

Morning Guys!

 

So I have now started the long journey to sorting out my chaps previously poor credit reports. He had been refused for credit, was receiving low level DCA letters and wasnt sure why so we applied for experian/equifax reports (will do Call Credit later!).

 

Its all very confusing:

 

Welcome Financial Services PLC have registered a default for a loan started in April 2008, four payments made then default registered in Feb 2009. Defaulted at £3382, now £6773!!!

 

HFO Services Ltd have registered a default for a loan started in Feb 2005, no payments made then default registered in Nov 2005. Defaulted at £4373, now £5612.

 

I have CCA'd both companies and in the interim HFO have very conveniently sent me one of their famous "Reminder - Notice of Assignment" letters, to which I have today replied with a "I don't think so" letter. It doesn't state when it was sold off.

 

The interesting thing is that the Reminder NoA says Welcome Financial Services are the OC. Why would Welcome Finance sell off an older debt to a DCA yet loan more money to that same alledged debtor and chase it themselves?

 

One is close to SB anyway and I have stated on every letter (unsigned) that he denys all claims. Either way my partner knows absolutely nothing about any of it! He swears they are not his, because he knew he couldnt get credit so would never have applied!

 

I would have thought they were the same debt but the old one is the one chased by the DCA and normally when two defaults are registered, the second is the newer DCA one.

 

They have 10 days left on the CCA, then Account in Dispute letters to be fired off, should I also SAR Welcome for both accounts with two £10 cheques?

 

Any imput anyone has would be fanstastic at this point, just to keep me on the straight and narrow.

 

Thanks and hope your weekend's started well!

 

Ryjayel

[BRIGADIER2JCS]

Hi, There can only ever be one default on any debt,

if a debt is sold then the new owner can only up date the file with their

data they CANNOT change the default date.

As to the SB or near SB check on the CRA files for the last payment date

the debt becomes SB one monthe after that, the default date

is often up to 6 months later.

With the Welcome accounts to make sense of them you will

probably have to do a SAR to be sure of any thiing.

 

Brig.

[ryjayel]

Ah thats really very interesting Brigadier:

 

The SB account is actually barred. The account was opened in Feb 2005 but according to both CRAs no payments were EVER made! So it became SB back in March. However the default wasnt registered until the November and therefore is still on the reports. Should I wait for it to drop off or send a letter to all parties? I can write to HFO and tell them they are no longer allowed to chase him but I cant get rid of it offf his CRA until Nov?

 

I will SAR the other remaining welcome account directly for all that they have (CCA has already gone). Thats not only saved me a tenner, but a heap of work!

 

Thank you very much Brig!

[BRIGADIER2JCS]

That's great, You need to notify the creditor

in writing by recorded delivery that the debt

is statute barred and that you will not be offering

or making any payment now or in the future if

you don't they can still keep chasing but cannot

enforce in court.

 

Brig.

[ryjayel]

Ok so I've completed the SB letter to address the HFO 'debt'. Now that should stop them chasing, and I can send harrassment letters if they dont.

Will also raise a SAR request for Welcome Finance and pop out to the Post Office this morning!

 

But what about the default on the CRA files? Do I need to wait until November when the default reaches six years then fire off removal letters?

[BRIGADIER2JCS]

Hi the defaults fall off automatically

after 6 years, jus keep an eye on the

files sometimes if your update of files

is in the middle of a period it may drop

off earlier or later than the actual default

date.

 

Brig.

[ryjayel]

Afternoon!

 

So I have received a signed CCA from Welcome Finance...

My chap says he honestly cant remember the loan but the CCA is signed in two places so it look pretty convincing!

 

The CCA I have been given is two pages (credit agreement page and terms), but one of them is marked 'Page 4' so where are the others?! Also, It has CPC View EVALUATION marked across it covering some of the important details of the agreement which I'm not happy about. I have attached it. Should I write back and demand one without that obscuring it and the missing pages?

 

I am waiting for the SAR and they have confirmed they are working on it. But...

 

The loan was for £2000 plus £496.65 PPI over two years with a 66% APR! He made four payments of £169, left the property and thats when payments stopped.

 

He is being chased by Muck Hall (who are only DCA, the debt remains with Welcome I believe) for £6773! I need to challenge this, he had no default notice, no reminders, no 'you havent paid us letters' etc etc until the DCA letter arrived January of this year.

 

Any advice anyone?

Welcome agreement 1 small.pdf

[BRIGADIER2JCS]

Hi, the agreement is the standard Welcome Document,

and looks ok, as you say part is not legible so yes challenge

it and the missing pages.

I would check his credit reference files for the ownership

of the debt and the default date.

MH are very much in to chasing debts no one else

will touch such as statute barred one.

Wait for the SAR to see what else is there.

Don't talk to MH on the phone.

 

Brig.

[ryjayel]

Thanks Brig

 

Will challenge the agreement but the debt is still owned by Welcome. Will not deal with MH in any way. Defaulted Feb 09.

 

What would be the next move, as it would seem the additional monies over the final are all charges and miss sold PPI. I calculate the total owed (without PPI) to be £3,637.33 but they are going for nearly £7000!

 

Ryjayel

[BRIGADIER2JCS]

Then you really need the SAR to calculate what

to claim back, not forgetting to add interest at

the same rate as the agreement on all of it.

 

Brig.

[BRIGADIER2JCS]

Then you really need the SAR to calculate what

to claim back, not forgetting to add interest at

the same rate as the agreement on all of it.

 

Brig.

[ryjayel]

OK, can I come back to you once received to check my calculations?

 

They state on their letter that they have requested a statement of account to be sent separately, one of which we have never received so this should be interesting!

 

Thanks again Brig

[BRIGADIER2JCS]

Yes of course come back any time.

 

Brig.

[ryjayel]

Hiya Brig

 

Just to update, have received the SAR for the defaulted account. Its contains the original agreement which I also requested through the CCA letter, five pages of notes, a default notice, and copies of photocopied bank statements, proof of ID etc.

 

I am missing:

 

• any documents relating to the PPI
  
• Details of collection charges added
  
• Details of fees/charges from any agencies (being that MH have weighed in, in the past)
  
• No DPA document
  
• No list of agencies to whom his data has been disclosed
  
• No statements
  
• No termination notice
  

They have told me twice now in letters that the statement of account has been ordered and will arrive separately but I havent received it yet so cannot investigate how its gone from £3k to £7k. They still have 30 days to comply...

 

Should I write back listing what is missing from the SAR'd documents and inform them the clock is still ticking?

 

Also, he never received any form of default notice, but did move some time after the start of the loan.

 

Fran

[BRIGADIER2JCS]

Hi Fran, the SAR is incomplete, so yes

write to the Compliance Department and Data controller who

are responsible for this type of request, just list what

you consider is missing as you say they still have time

left to reply in full.

#Brig.

[ryjayel]

Hello Brig

 

I have been a busy bee over the last six months and have removed all defaults with the exception of this remaining one.

 

What I need is to soundboard how best to tackle this default (see above) if you can offer advice and a path that would be great!

 

I SAR'd Welcome Finance and they sent a signed CCA etc etc. When I wrote and asked for the rest, they said they had nothing more to send.

 

It shows four payments made, then defaulted, which was registered in Feb 2009. To wait for it to become statute barred is a long time so I need to approach it in a way that achieves the best possible outcome to restore some creditbility to his credit report.

 

Ideally, I would like to wipe it but thats not going to happen. Second best would be to have the debt reduced back down to its original sum, the default removed and payments to be made to settle the account with green lights on his credit report. Is this realistic?

 

There is a photocopy of a default notice sent in February 2009 but he never received it.

 

Last year they sent him a personal loan statement, now that they have his current address from the SAR, which shows:

 

PPI £496.65

Interest £1561.95

Telephone chg £90.00

Letter £10.00

Unpaid DD £40.00

Default sum fee interest £8.48

 

Total £2207.08 in charges, interest and PPI alone!

 

However, whats confusing is thats where the statement stops but the default says £6773. I have no explanation for the sum demanded. The original loan was £2000 plus PPI (which wasnt optional by the way!). I can only assume the difference would be trumped up charges by the DCA as the Welcome statement stops in May 09.

 

So my question is this: What would be the best way forward?

 

Should I write explaining what was missing from the SAR (again) and demanding to know why the default is for £6773 when the statement stops in 2009 at £3854 (sent to him April 2012).

 

Should I demand the remainder is removed and offer to set up a payment plan if they agree to lift the default? Do I send a letter stating that he never received the default notice? Should I lodge a cmoplaint with the Financial Services Compensation Scheme regarding the PPI as Welcome themselves are in default and the FSCS are managing their affairs. (or is this admitting liability that he shouldnt admit to so early?)

 

I'm sorry to be confusing and exhausive but its rather a mess and the FSCS being involved doesnt help matters!

 

Thanks again Brig

Ryjayel

[BRIGADIER2JCS]

Hello again,

Let's consider the difference in the figures first, some answers

please to referesh the old memory:

 

1.What was the amount of the loan?

2. Was the PPI actually missold and for what reason?

Those answered I would be very much inclined to

take the view that there is some rather creative accounting

going on here!!

 

So a formal declaration to Welcome addressed to their Data

Controller.

 

Dear Cur or Madman,

 

FORMAL COMPLAINT and NOTIFICATION OF FAILURE TO COMPLY WITH A SUBJECT ACCESS REQUEST MADE UNDER DPA 1998.

 

Ref:xxxxxx xxxxx

 

I refer to the SAR under DPA 1998 made by myself regarding the data held by Welcome realting

to Mr xxxxxx and Welcome account number xxxxxxxx on receipt of the data supplied by Welcome

on xx xx xxxx I believe that certain data has NOT been provide and no valid reason has been forthcoming

for this.

 

I am prepared to allow 7 working days for Welcome to provide the data listed below and any other

data relevant to this request.

 

Failure to do so will lead to a formal complaint to the ICO without further reference to Welcome.

 

Ok on to HFO

 

Letter to their Compliance Manager.

 

Ref: xxxx xxxx

 

Dear Sir or Madam,

 

I refer to theaccount above mentioned and the alleged debt to Welcome in the some of £xxxxxx xx,

the account statement (s) provided DO NOT appear to be accurate therefore I do not acknowledge any

debt to HFO or Welcome for the sums claimed and will not therefore make an y payments or offers of

payment.

 

I REQUIRE within 7 working days explicit justification and explanation of the figures given below.

A full explantion and justifcation of the differences and and discrepancies in the accounting.

 

Here you need to list the deatails and the discrepancies etc.

 

OK?

[ryjayel]

Ah Thanks for the swift reply Brig

 

Let me clear some bits up:

 

1) HFO was indeed a different loan and they claimed it was not statute barred despite my insistance. However it has dissapeared from all credit files after the six years so HA!

 

2) Moving back to Welcome, now the only problem in an otherwise shamrock green credit file!

 

The loan taken out was £2000 plus £496.65 PPI. States Total Amount of Credit £2496.65

HOWEVER - there is also an acceptance fee of £75!!! What a cheek! So the total is £2571.65 and the statement says the loan is now on a 0% Annual Interest Rate...

 

He was NEVER told the PPI was option, might not be needed etc etc, it was placed there, he was told it was an essential part of the loan take it or leave it.

 

I will send exactly such a letter to Welcome as recommended (swapping out the Cur or Madman bit lol).

 

Do I holdfire on the PPI reclaim? The FSCS have writen to him explaining that as Welcome Finance are actually in default, the FSCS are now in charge of the PPI investigation. Any compensation will be taken off the debt (fair enough) but you will only be awarded 90%. Why is that? Also completing the form admits owning the debt so should I wait?

 

Ta muchly, cracking advice very gratefully received.

 

Ryjayel

[BRIGADIER2JCS]

I guess leave it in that case on the PPI are

they aware of the insistence that the PPI

was a requirement of the loan?

How much exactly do Welcome claim is owed.

[ryjayel]

Welcomes loan statement demands £3854, which is from back in 2009 when they stopped adding interest to the loan, which would infer they sold the debt on.

The jump from that to £6773 and DCA Mack Hall have chased it a little, stating the pursuer as 'Cattles' would suggest the same but Welcome are the ones that have lodged the default.

 

I'm happy to agree a figure, if the PPI and the default is removed.

[BRIGADIER2JCS]

Cattles = Wecomes ''parent'' company!

 

The near £3K difference must be explained

before any agreement is reached.

[ryjayel]

Hi Brig

 

Its been a while but Welcome Finance has reared its ugly head again, so I'm looking for more advice if you have a moment...

 

I wrote to Welcome again after all the above, explaining they had omitted certain documents in my SAR, such as the PPI insurance documents relating to the loan and a breakdown of all the charges relating to the account etc. They duly ignored it.

 

I have now received a County Court Claim for the original defaulted amount of £3854, plus interest and costs bringing the total to £5087.56.

 

I have logged onto MCOL and entered my acknowledgement and intention to defend.

 

They have supplied a photocopy of the agreement, the default notice (which was never received) and a statement of account showing all the charges they have placed on the account such as Capitalisation and telephone costs.

 

So far as I can see, the £3854 should not be that high because of the PPI (£496.65) and all the exorbitant fees for telephone calls (£110) etc etc.

 

However, what I want to avoid if at all possible is a CCJ being issued. Is there any point in taking it to court if that is what is going to be the outcome and a stain for six years?

 

Should I write to the claimants solicitors, explaining my position and suggesting that we come to some sort of payment agreement. Should I argue the PPI and charges now, or wait until after an agreement is reached (if!).

 

I run out of time at the end of this week (its been a difficult month ), so how do I deal with this with the court? Do I still need to assemble and provide a defence in the meantime?

 

Finally, as the amount is over £5k (just) do I have to apply to have it moved to small claims track? Is that even an option?

 

Anyones contributions to this situation is gratefully received!

 

Thanks

 

Ryjayel

[ryjayel]

Sorry - Also I think perhaps the location of this thread is a little off the beaten track now - is it more appropriate for me to move to another section?

[BRIGADIER2JCS]

Claim Issued Threadd moved to Legal issues.

[AndyOrch]

Should I write to the claimants solicitors, No explaining my position and suggesting that we come to some sort of payment agreement.No Should I argue the PPI and charges now, Yes as part of your defence or wait until after an agreement is reached (if!).No

 

I run out of time at the end of this week (its been a difficult month ), so how do I deal with this with the court? Do I still need to assemble and provide a defence in the meantime? What date is the summons? you have 33 days in all to deal with it .5 deemed served leaves 28, 14 to AoS and another 14 to submit a defence.

 

Finally, as the amount is over £5k (just) do I have to apply to have it moved to small claims track? Is that even an option? No it will be Fast Track

 

Regards

 

Andy