Goldfish card balance £nil/settled

[jason_mnm]

I took this Goldfish (part of Barclay) card in end of 1998 and I defaulted in 2008 due to job loss with balance £9800.

 

I was paying the minimum amount from 2008. Then in 2010 I wrote to Bank to write off the balance or settle for minimum account..

 

It was refused initially asking to increase the offer..

 

then I wrote back explaining my family situation and health situation requesting to write off and settle for £1000.

But they did not reply to this letter. I kept paying minimum amount.however after 7 months I checked my credit file and found the report shows the balance nil and satisfied.

 

I then called the bank and but the Indian call Centre had no clue about the account.

 

Then I requested advice from here from a cagger and he advised that as the balance shows £nil in the credit file and it shows satisfied, I should stop paying the nominal amount that I was paying.. I then stopped paying.

 

I have checked all my credit file and all credit file shows the balance £nil and satisfied.

 

Now please tell me as my credit file shows the balance £nil and satisfied, should I still pay the minimum amount or stopped paying all together. And if they can enforce the debt later as I have proof of all the credit file shows the balance £nil.

 

Please now let me know what u think of it...

[dx100uk]

prob written of against tax and put on a phishing list

awaiting a fleecer to buy it.

not yet brought

when it is

the bal will re-appear as it was with a new name against the debt.

 

dx

[citizenB]

What date does it show as being satisfied with a £0 balance ?

[jason_mnm]

I missed the point that the credit file shows no Default entered and no default letter send. It has been more than 1 year now since the balance shows £nil in credit file and still they did not bother to write.

 

The date balance shows satisfied is March 2011...

[citizenB]

Hmmm, this does seem wierd?

 

Are you receiving statements from anyone ?

 

I would be very concerned that I was paying money into a black hole ?

[jason_mnm]

Nope, the statements stopped sometime in Jan 2011. The credit file shows accounts end date March 2011. Since then no correspondence from anyone...

[citizenB]

If it were me, I would stop paying and see what happens.. but that might not suit everyone.. I simply dont know what to advise

[DonkeyB]

Three possibilities, in my view.

 

1. Cock up. Bank has messed up. Stop paying.

 

2. Bank has sold it and zeroed it on your CRA report. They are planning to sell it, and have already marked it off against tax. Keep paying because...

 

3. As 2, but it HAS been sold and the buyer has not bothered to contact you yet. In which case, keep paying, as any threats of legal action (irrespective of who you are actually paying) could lead to a situation of estoppel – which would be good for you.

 

Without more information, or rocking the boat, there’s nothing more to advise. As you have not received statements they can’t charge interest. I’m not sure what happened to Goldfish accounts post-2008. Not sure where BC normally offload them.

[jason_mnm]

Ive stopped paying for 7 months now after I checked all credit files show balance nil and settled.. .

Should i start paying the nominal amount again...

i just do not want them come with surprise or build up interest...

 

By the by this is what i found :

for an estoppel occurs when one party, by words or conduct, has led the other to believe in the existence of a certain fact situation

and the other party has acted to his detriment in reliance on that fact situation.

 

In these circumstances the party whose conduct created the difficulty may be prevented (estopped) from denying the existence of that relevant fact situation

and estoppel is a rule of evidence (and not a cause of action) preventing a person from denying the truth of a statement he has made previously,

or the existence of facts in which he has led another to believe (Curzon - Dictionary of Law) estoppel is not restricted to property matters.

 

It is generally available in most situations when the circumstances are appropriate.

 

It is available and has been used from time to time for to defend against claims for repayment of money which ha been paid out in error.

 

One needs to distinguish between proprietary estoppel and promissory estoppel.

 

Can this estoppel work for my this case?

Edited April 2, 2012 by jason_mnm

[car2403]

I think it's better to let sleeping dogs lie, unless you are specificially interested in and could successfully challenge any incorrect information on your CRA file

 

There can't be an estoppel here, as no promises to not collect on the debt have been made, and even if they have,

(by virtue of the CRA entry being zero'd and not chased - which is unlikely on balance of probabilities)

then that would only apply to the OC, who is the one recording the data.

 

It won't apply to debt collectors,

 

should the OC have assigned the debt elsewhere and washed their hands of it, which is highly likely if you were paying a nominal amount on a much larger balance.

(It's in their interests to write the debt off for tax reasons in such circumstances)

 

Of course none of this means that you shouldn't pay, as CAG isn't in the ethic of avoiding legally owned debts,

so if you wanted to establish what the situation is,

 

you could either DPA SAR the OC, (which would have no legal ramifications on their claim against you - they are still a data controller under the DPA)

which should reveal where the debt has gone, you can contact them to query it,

or you can restart your nominal payments.

 

Either of those 2 latter actions could result in you being chased for the debt, which may not necessarily happen if you don't do anything.

[rebel11]

Hi jason

 

It is very unlikely that they would be able to produce a credit agreement from that period, even a 'Reconstructed' agreement, so if they ever attempt to pursue the debt, thats the first thing to ask for, send a CCA request. Goldfish probably disposed of agreements which didn't adhere to the CCA 1974, before they sold the accounts to Barclaycard.

 

Have a read of 4and 5 in my signature, for a better understanding.

[ajs444]

When we asked about my wife's Goldfish account, Barclaycard put their hand up and said they did not have a copy of the agreement and as such would be unable to pursue the debt through legal channels.

[jason_mnm]

There can't be an estoppel here, as no promises to not collect on the debt have been made, and even if they have,

(by virtue of the CRA entry being zero'd and not chased - which is unlikely on balance of probabilities)

then that would only apply to the OC, who is the one recording the data.

 

It won't apply to debt collectors,

 

My question how can that apply only to OC, not to debt collector as OC who make me feel that they have released me from the debt after I sent them a letter with my adverse situation ..

Do not know what should i do now? I just do not want to get in trouble....

[car2403]

That's the point, an estoppel can't be inferred - it has to be explicit. Promissory estoppel is a promise not to do something in exchange for a benefit and there has been no promise here, only a change in how the debt is recorded with the CRA

[jason_mnm]

What do you think I should do now...

[jason_mnm]

I found this thread which could be the end of my case..

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?341276-Threat-of-CCJ-from-Bryan-Carter-Arrow-Global-debt-nearing-statute-barred

[dx100uk]

why did you post your comment on that thread its not closed?

 

dx

[silverfox1961]

Hi

Responding to your PM

 

Not much more I can add than already has been mentioned.

 

My suspicion is that the debt has been written off on their books and the debt put into a pile for sale to the highest bidder.

 

I agree with stopping payments. As the debt is showing settled, it shouldn't be accruing interest.

[jason_mnm]

Thanks guys for your kind advice. In fact this site is the best friend for people like us who needs little bit comfort in this stressful life created by these banks.

 

However as Silver says the debts showing settled, it will not accrue interest, what if OC does sell it to a DCA, will DCA accrue interest from March 2011 when the account been settled by OC?

 

Should I contact Goldfish to confirm if I have been released from the debt as credit file shows balance £nil or should I contact them at all?

[dx100uk]

no sit on your hands

 

dx

[silverfox1961]

Unless it is stated in your terms and conditions that a third party who buys the debt can charge you interest, they cannot (IMO)

[jason_mnm]

Thanks silver. Should I send CCA or SAR request?

[dx100uk]

i said sit on your hands

 

dont be tempted to do anything more now wait.

 

dx

[jason_mnm]

Ops..DX..thought u r upset with me...!!! Thanks DX.. will just wait then...

[rebel11]

As the other guys have suggested 'do nothing' at the moment, Goldfish doesn't hold your account, it was bought by Barclaycard. If they do decide to chase, send them a CCA request and if they can't produce a copy or reconstructed agreement, then after 14 days, put the account into dispute.

 

Thanks silver. Should I send CCA or SAR request?