Monument issues and re-claim help!

[GazTough]

So today I have finally decided to take the plunge and tackle monument.

I had a card several years ago with monument that spiralled out of my control and went to arrow global.

They are chasing me via a company called rockwell for an amount of £1100, the limit on my card was £500.

 

I have spoken to monument and they have stated my balance is £497 and that they have sold it to arrow global who claim they have not added anything to the balance.

So I am pretty confused and arrow global are looking into it.

 

I seem to remember I was pressured in to taking the payment break plan and I also remember a lot of charges. I have sent a SAR today which I understand is the first step in the process.

 

If someone could be so kind as to give me a bit of advice as to what to do when I receive all of my statements it would be very much appreciated.

Ideally I would like to claim back the PPI and the charges plus contractual compound interest.

 

 

Thanks in advance!

Edited July 6, 2012 by citizenB
formatted for easier reading

[BRIGADIER2JCS]

So Arrow adding interest and or charges???

You will need to check on the PPI payments,

the default date and the date of the last payment

or written acknowledgment.

When was the card taken out?

Have you checked your credit files to see if the

account shows on them if not please do so it

will give you a much quicker idea of the status of the

debt.

[GazTough]

Thanks for the reply, I have checked my credit file and it shows as arrow global with a balance of £1100. I suspect that monument are failing to tell me about the charges, ppi etc when I speak to them on the phone hence the SAR

[dx100uk]

see my sig below

or use our search top right

 

dx

[citizenB]

When you receive the data back from your SAR request, you need to complete a spread sheet which we can provide for you and the FOS form which needs to be downloaded from the FOS website.

 

You will need separate claims for charges and PPI.

 

Let us know when you receive the data and we can take it from there.

[citizenB]

Just out of interest - when was the last payment made to this account ?

[GazTough]

Arrow global have had the account since June 2007 and I have not paid them a penny. The last payment was for £20 which I paid to monument on the 29/09/2006.

[citizenB]

Ouch, another couple of months and it would be statute barred !!

[GazTough]

Well I have still not paid anything so why should that change? I sent a letter to rockwell disputing the debt about 2 months

[GazTough]

If possible could I get a link to the spreadsheet as I have some welcome finance charges that I am looking to claim back.

 

Thanks

[BRIGADIER2JCS]

If you have not made any acknowledgment of the

debt in writting nor any payment in 6 years and

you do not do so now this will be SB next month.

 

Telephone conversations do not reset the 6 year

clock.

[ims21]

If possible could I get a link to the spreadsheet as I have some welcome finance charges that I am looking to claim back.

 

Thanks

 

Spreadsheet for reclaiming charges...

 

CISheet v101.xls

 

 

EDIT: Please note that the one for the PPI will be a different one

[GazTough]

Thanks for the spreadsheet thats great. I have heard of SB before but I am not 100% certain how it will effect me. I have never acknowledged the debt in writing and as I said it is very nearly 6 years since my last payment.

What would you advise me to do? If I send the SAR will that mean that I am acknowledging the debt? Also if I let the account become statute barred will that prevent me from claiming back ppi and charges?

Sorry for all the questions but all of your help is really appreciated.

[ims21]

If you are in England and Wales SB means that they cannot take action in court for the debt. It doesn't mean the debt does not exist.

 

Any refund they may agree to give you is likely to be used to set against the debt under their right of set-off.

 

SAR does not acknowledge the debt.

[BRIGADIER2JCS]

A SAR is a Lawful request for information (you can add the following).

 

This request is not an acknowledgment of any liability the enclosed

statutory fee must not be applied as payment to any account.

[GazTough]

Ok thanks, do I need to do anything when it becomes SB or does it just mean that I do'nt have to worry about court action.

I understand that any refund of PPI or charges will be used to clear what I owe however I am pretty sure they will owe me more than I owe them anyway.

[ims21]

If it is or becomes SB then that is an absolute defence should they try their hand.

 

If they owe you more than you owe them then that is a plus for you.

[BRIGADIER2JCS]

Any contact over an SB debt is quickly and

easily dealt with.

[GazTough]

Brilliant thanks, rockwell have suspended the account untill they can provide me with statements so I will just hang fire untill september and then write to them to say the account is now statute barred.

I have just used the spreadsheet to work out the welcome charges which are £165 and with the contractual interest rate of 47.5% it works out at a massive £1789.66. How far back can you claim charges the first one is on the 22/4/04 and the last is on the 30/10/08. Also what are welcome like for refunding charges in your experience? I have won a ppi claim from welcome in the past but not sure how different the charges claim will be.

[ims21]

Probably best to start a thread in the Welcome Finance forum for this so that it doesn't get mixed up with the Monument issue.

[GazTough]

No problem I will do thanks for your help and I will update this when I get the info from monument.

[GazTough]

Hi again,

 

I have received the SAR documents today and need to no where to go next.

I signed the agreement on the 14/10/03

however monument have only provided me with the last 6 years of payment information, notes, etc.

 

I definitely had the payment break plan but I can't work out how much I have paid because I only have payment information from the 14/7/06 to the 14/5/07 when the account was sold on.

 

I have spoken to a member of the customer relations team who stated that to claim for miss sold ppi

i have to make a claim in writing which obviously I was aware of.

Is there a 6 year limit on ppi or would I be able to claim it all back?

 

Now on to the charges and it is a bit confusing,

it states in my notes that on the 6/7/2007 my account was sold to arrow global with a balance of £1148.37,

 

however monument applied the following credits to my account.

 

£28.93 purchase fin chg credit

£141.47 cash finance chg credit

£27.18 purchase fin chg credit

£13.10 purchase fin chg credit

£10.77 purchase fin chg credit

£273.63 late fee credit

£154.64 overlimit fee credit

Total £649.72

 

The documentation now states that my account balance is £498.65

surely if they have sold the account my balance with monument should be 0.

 

Sorry for the long post and if someone could help me pick the bones out of that

and tell me how to proceed it would be greatly appreciated.

Thanks again

[GazTough]

Is anyone able to help? A PPI reclaim letter for monument would be very much appreciated

[dx100uk]

there is NO TIME LIMIT ON PPI RECLAIM.

 

so the PENALTY charges have all been refunded

 

std ppi reclaim then.

 

FOS CQ+SOC+covering letter

 

dx

[GazTough]

That's the thing though the charges look like they have been refunded however I don't understand how that works because monument sold the debt to arrow global who are still asking me for the region £1100. So if my charges were refunded then it means that the amount should be a lot less than the £1100