PDUK did not serve default.

[taylorit]

Hi

 

Can someone confirm something please, have an ongoing complaint with MEM Consumer Finance (t/a PDUK).

 

They have written stating they are not legally obliged to issue a Default Notice and confirm that they did not do so before reporting a default on CRF. They also go on to say they do not terminate credit agreements and Default Notices are only required in the case of a creditor terminating a credit agreement. The end date of the fixed sum agreement is the end contractual due date.

 

I have a copy of the of the Fixed Sum Agreement and able to upload that and copy of the companies response letter for reading.

 

Also to note I was hounded by Mucky Hall as they sent it to them when nothing was due, fully repaid!

[fletch70]

They are quite correct in that they do not need to issue a DN as per S87(1) before they register a default on your credit file.

[BRIGADIER2JCS]

PDUK seem to continue to process all their delinquent accounts in house until a 'dead lock' situation occurs, they then default at the last minute just before selling the debt, it's unfair but there is little to prevent this happening.

[taylorit]

Morally what they are doing is wrong but legally right?

[fletch70]

There is nothing moral about payday loan companies lol

 

Yes they are legally entitled to do that

[BRIGADIER2JCS]

Much as the banks do as well default late and sell quickly leaves the debt purchaser with a longer time scale to pursue for payment.

[fletch70]

Or even sell it non defaulted.

Mbna ran me as a repayment plan then defaulted me before sale

With Provident it took them 3 years to default me

 

Mind you they are only two of many so doesn't really make a difference

[Peterbard]

Hi

 

Can someone confirm something please, have an ongoing complaint with MEM Consumer Finance (t/a PDUK).

 

They have written stating they are not legally obliged to issue a Default Notice and confirm that they did not do so before reporting a default on CRF. They also go on to say they do not terminate credit agreements and Default Notices are only required in the case of a creditor terminating a credit agreement. The end date of the fixed sum agreement is the end contractual due date.

 

I have a copy of the of the Fixed Sum Agreement and able to upload that and copy of the companies response letter for reading.

 

Also to note I was hounded by Mucky Hall as they sent it to them when nothing was due, fully repaid!

 

Yes they are right in as much a they do not have to issue a default notice under the CCA, none is required on any fixed sum loan which has gone past its term.