old OD debt, was paying moorcroft, now wetcloths chasing me

[segway]

Hi all,

 

I owe Lloyds bank an unplanned overdraft of around £2,000. Paid back about half of it over the space of a year in 2012 with a debt collection company acting on behalf of Lloyds but then ran into some job/financial difficulties and had to postpone my repayments.

 

Now a new debt collection company is contacting me asking for repayments, and I have heard nothing in months from the old company. How can I ensure that the new company is now in charge of the Lloyd's debt? They have sent me a letter stating they are acting on behalf of Lloyds but is there any more proof I can ask for?

 

Thanks a lot for your help!

[ims21]

If a DCA is acting on behalf of a creditor then I would be paying the creditor and not the DCA.

 

Which DCAs are these?

[BRIGADIER2JCS]

Hi all,

 

I owe Lloyds bank an unplanned overdraft of around £2,000. Paid back about half of it over the space of a year in 2012 with a debt collection company acting on behalf of Lloyds but then ran into some job/financial difficulties and had to postpone my repayments.

 

Now a new debt collection company is contacting me asking for repayments, and I have heard nothing in months from the old company. How can I ensure that the new company is now in charge of the Lloyd's debt? They have sent me a letter stating they are acting on behalf of Lloyds but is there any more proof I can ask for?

 

Thanks a lot for your help!

 

 

 

Who is the new company?

 

 

I would send a "prove it " letter to the new DCA, informing them that you do not acknowledge any debt to them and require them to prove their right to collect.

[segway]

Thanks so much for the replies.

 

New DCA is Wescot, old one was Moorcroft. With regards to a "prove it" letter, what exactly am I asking them to provide in terms of proof? I've read something about asking for a copy of the "original credit agreement", is this what I should ask for?

[Stigman]

Have you kept copies of any monies paid to Moorcroft & is this reflected in the amount that Westcot is chasing?

 

As above, if collecting on behalf of then pay the Original Creditor Lloyds.

 

Stigman

[ims21]

No need for letters if they are acting on behalf of a creditor.

 

Ignore them and make payment to Lloyds direct.

[BRIGADIER2JCS]

Thanks so much for the replies.

 

New DCA is Wescot, old one was Moorcroft. With regards to a "prove it" letter, what exactly am I asking them to provide in terms of proof? I've read something about asking for a copy of the "original credit agreement", is this what I should ask for?

 

 

There is no agreement as such for an overdraft. just a letter of acceptance of the credit facility.

 

 

Are Wescot acting on behalf of Lloyds ?

 

 

Is this account on your credit reference files?

[segway]

Thanks, I have records of payments made to Moorcroft and these payments have been deducted from the amount Wescot is asking for. So shall I just contact Lloyds and ask to make a payment to them? I'm sure they'll say something like "we have passed your debt onto a third party, please deal with them"...

[ims21]

Just pay Lloyds....no need to ask them.

 

As you said in your first post...

 

They have sent me a letter stating they are acting on behalf of Lloyds

 

That being the case you do not have to deal with them.

[segway]

OK thanks, I just thought that was standard debt collector wording. The exact phrase they use is "We have been instructed by our client to collect the outstanding balance on their behalf." So I assume this means they are acting on behalf on Lloyds. So I guess the best thing to do moving forward is to try and contact someone at Lloyds and just ignore Wescot?

[ims21]

OK thanks, I just thought that was standard debt collector wording. The exact phrase they use is "We have been instructed by our client to collect the outstanding balance on their behalf." So I assume this means they are acting on behalf on Lloyds. So I guess the best thing to do moving forward is to try and contact someone at Lloyds and just ignore Wescot?

 

 

We have been instructed by our client would mean that they are acting on behalf of Lloyds.

 

If you have the account number etc then you don't need to contact anyone at Lloyds...you just pay them.

[dx100uk]

what s the debt all about

 

how old

 

what type

 

and PENALTY charges or PPI.

 

tell us its history please

 

dx

[SabreSheep]

what s the debt all about

 

how old

 

what type -

 

and PENALTY charges or PPI.

 

tell us its history please

 

dx

 

Lloyds Overdraft so I doubt ppi or charges in this case

[obiter dictum]

Doing some digging on this, it was mentioned that only a letter of acceptance was needed as to acceptance of an overdraft Facility.

 

How does s.61B of the CCA as to the terms of agreement of the overdraft Facility (Duty to supply copy of overdraft agreement)

 

If the overdraft has been breached then the bank needs to send a statement under S.74B

[mbanani]

The best way to find out if DCA really owns the debt

is by asking them to provide the evidence of the ownership of debt,

ie the purchase price paid for the debt to original creditor,

through a buy and sell contract,

 

until they prove that, they do not actually own the debt,

and just acting on the instructions of the original creditor.

therefore they do not have the right of enforcement,

 

unless they actually own the debt through purchase, and money actually changing hands.

 

They do not like to divulge this information,

as most of them say that they own the debt when they do not,

and just tell porkies about debt ownership,

 

I had to extract this information through a court order,

that is how much they are protactive about this information.

[obiter dictum]

i think you need to do a bit more research as to Debt Acquisition mbanani and types of debt assignment. I am sorry but you are way off base

[Stigman]

The best way to find out if DCA really owns the debt is by asking them to provide the evidence of the ownership of debt, ie the purchase price paid for the debt to original creditor

 

Your never going to find out the debt sale &/or debt purchase price, that will remain private and confidential because it is a private transaction between two Companies.

 

If the debt is sold, you can ask for a copy of the Notice of Assignment, this should consist of two letters, one letter from the Original Creditor informing the debt has been sold to xxxx DCA, another letter should be from the new owner (i.e. xxxx DCA) advising that they have purchased the debt from the Original Creditor.

These two letters can come in the same envelope from the DCA, the printing of the Original Creditors letter is often done by the DCA with the Original Creditors permission.

 

You may also need to check your Credit Reference Files to see if any debt is listed and if it is has been updated with the new owner details.

 

Stigman

[BRIGADIER2JCS]

i think you need to do a bit more research as to Debt Acquisition mbanani and types of debt assignment. I am sorry but you are way off base

I agree totally most of that is wrong!

 

 

The price a debt purchaser pays for a debt has no relevance and certainly no merit it challenging the ownership of a debt

The Deed of assignment is confidential and rarely will a court order production.

 

 

The sales are made under Law of Property Act 1925 and claiming "ownership" when this is not the case would be commercial suicide.

There is no point in falsely claiming ownership.

[dx100uk]

smack of FoTL to me sadly?

 

dx

[BRIGADIER2JCS]

smack of FoTL to me sadly?

 

dx

More than a little I think dx!