Caught in the toxic debt scam- whats the best approach

[eamonndus]

had two loans that I paid for 3 and 4 years respectively and

 

 

like so many more discovered a big chunk of my payments had been going on PPI ,

 

 

one had been miss-sold because I was self employed and could never have claimed under the terms of the policy

and the other I had refused but they added on anyhow.

 

Calculated what my position would have been had all my payments been coming off the capital

and concluded that one was definitely cleared and the other had possibly a few hundred outstanding.

 

 

contacted the companies and got into wrangles with them that went nowhere.

Then lost my job and couldn't have paid anyhow.

 

 

I did at that point try claiming on the policies just to see and sure enough neither would pay a penny.

 

told both companies to clear off unless they could provide me a calculation proving that I owed them money.

 

 

Then the crash happened and these banks were sold and resold and then the loans were sold and resold.

 

 

Now I have Mickey mouse Kapital and Road runner Kapital claiming to own these loans

and with even bigger balances and have registered defaults for these big sums.

 

 

They hire a new debt collector each month or so and sell on the data every two or three months to "some other Kapital"

 

1. Should I just keep ignoring them till it is statute barred in another few years?

2.Should I challenge them to prove the debt or remove the defaults and sod off

3. Should get back the PPI give them half it as a final offer and draw a line under it?

 

Any suggestions?

[Bazooka Boo]

First & foremost, STOP!

 

Spend some quality time getting all of the paperwork you have together and filing it in some order.

 

Check your credit files and see what, if anything, is on there, you can use Experian 30 day FREE trial, if you've not done so before, or send them £2 to get a hard copy of your files.

OR use Noddle, which IS free, but you will need to verify your ID by using a bank card, Noddle is not always accurate and as up to date as Experian but it should show you any glaringly obvious markers/defaults/ccjs.

 

Can you name these debts,

 

WHAT are they? Loans, credit cards, overdrafts, catalogues?

 

Secured/unsecured?

 

Roughly how much?

 

Who is the original creditor, name of bank, credit card etc?

 

When did YOU last pay anything OR acknowledge IN WRITING that you owed these debts?

 

Keep EVERYTHING in writing, you MUST now keep a paper trail of evidence, keep EVERYTHING, oncluding envelopes, they send you, keep copies of what you send them.

If they ring you, laugh and hang up, and repeat if they continue.

 

What were the last letters you received and WHO from?

 

PPI reclaim is a MUST...

[eamonndus]

Thanks for your reply.

 

Both were unsecured:

one about 12k originally this was a credit card who took my money monthly and used it for insurance

I never agreed to instead of reducing the balance.

 

 

I wrote to them showing that by now they owed me money based on my repayments

 

 

They responded a few times then went quiet.

 

 

I tried claiming when I lost my business,

but was told I was not entitled as I was considered self-employed and should never have had the policy.

 

After a long silence the "debt" was sold, then re-sold over again.

 

 

All any of these "Kapitals" have ias a name, address and figure.

 

 

They are in no position for example to deal with the PPI of I chose to demand it back.

 

 

The original lender more than likely has no paperwork anymore either.

 

The other loan was totally online ,

later they tried to make me sign a new contract, but I refused.

I suspect the original one was probably useless.

I refused several times to buy insurance even when they said I'd be refused if I didn't buy t.

 

 

Then after two years paying I discovered the insurance existed.

I asked for recalculation etc.

Got nowhere, then lost my business and tried to claim form the insurance. Same story-not covered.

 

I just got fed up with and stopped responding. Never paid either a penny since 2010 or admitted to anything

 

At this point you could not sort the mess out even if you were determined in my view.

 

 

Both lenders have fully written off the original debts and accepted a tiny fee probably 1/2% OF The inflated paper value

for passing it to a gangster who will be in profit if he gets any payment at all,

doesn't now or care what was borrowed or what is really owned of anything.

 

I just wondered if holding out till six years is up is the best approach

or taking them on and demanding

a. proof and

B PPI refund and

 

 

then offering a few percent of anything that's left?

 

 

Is that even possible I wonder?

 

 

As tax payers we have all paid to bail them out, several times over and they us a fortune. These gangsters should all be in prison not out trying to get paid a second time

 

 

The other 20k.

[dx100uk]

well time for an SAR to each one

 

 

then we'll do some proper PPI claims

 

 

dx