MMF letter re swift sterling pdl - but debt not on credit file

[hypuk]

Hi

 

I have received a letter from MMF in connection with the Pay Day loan lender Swift Sterling.

 

I have received letters in the past from MMF but I put them in the bin and buried my head in the sand. (Not the best option I know)

 

I have looked on my credit file to find it is no longer there, I'm assuming they haven't done a credit search before giving me the pay day loan or the debt has dropped off?

 

Any help would be greatly appreciated.

 

Thanks

 

Mark

[i hate bailiffs]

When was your last payment on this account?

CCA request may be a good idea

[fkofilee]

Yes CCA Request all the way.

 

The partnership between Swift Sterling and MMF has been going on for a while.

 

Just an FYI, in the last year, MMF have got much better at dealing with customers. So you should have a better time than I did

[obiter dictum]

i personally would totally ignore motormouth

 

it is obvious six years have past if it has dropped off your credit files

 

If no contact or payment in the last six years it will be statute bared

 

Do you remember when you took out the payday loan?

[hypuk]

Hi

 

Thanks for the replies.

 

I took out the loan on 3rd May 2011 as shown on my bank statement.

 

When I took out the loan with Swift Sterling, I was in a similar situation with Welcome Finance, when I received a claim pack from Northampton wanting to take me to court, so I checked my credit file and the debt for Welcome Finance wasn't on my file, so I filled in the N244 form sent along with my credit file stating the debt was Statue Barred and to be set aside and I received a letter a week later from whoever was acting on their behalf to say that they were no longer pursuing with the case and the it was quashed.

 

So I'm in two mind whether or not to reply to the letter or wait until they try and take me to court for this?

 

Thanks for your kind advice so far

 

Mark

Edited September 5, 2015 by hypuk

[i hate bailiffs]

So in that case it is NOT statue barred

Is there lots of unlawfully charges on this

That can be reclaimed

[hypuk]

I gathered it wasn't statue barred however surely as a responsible lender they should of done a credit check before issuing the loan to me and the default being recorded on my credit file?

 

The initial loan was for £200.00 and the balance has risen to £318.96.

Surely as "responsible" lender they should of carried out a credit search and when I defaulted should be recorded on my credit file?

[dx100uk]

Pers I'd ignore mmf

Simply fleecers

 

They rarely do court and certainly not for £200!

 

Plenty here to read about then

 

Dx

[dx100uk]

Hi

 

Thanks for the replies.

 

I took out the loan on 3rd May 2011 as shown on my bank statement.

 

When I took out the loan with Swift Sterling, I was in a similar situation with Welcome Finance, when I received a claim pack from Northampton wanting to take me to court, so I checked my credit file and the debt for Welcome Finance wasn't on my file, so I filled in the N244 form sent along with my credit file stating the debt was Statue Barred and to be set aside and I received a letter a week later from whoever was acting on their behalf to say that they were no longer pursuing with the case and the it was quashed.

 

So I'm in two mind whether or not to reply to the letter or wait until they try and take me to court for this?

 

Thanks for your kind advice so far

 

Mark

I'd be getting an sar off to welcome

 

There is always all manner of insurances like PPI etc and penalty charges like letter fees

All can be reclaimed

 

Dx

[hypuk]

Hi Dx

 

Thanks for the reply.

 

Welcome Finance has been dealt with as they were trying to chase debt that was statue barred, resulting in the debt being set asside.

 

Well I shall ignore MMF then

 

Basically what I can't get my head around is that surely Swift Sterling should of done a credit check on me before issuing the loan to me, being a "Responsible" lender to ascertain the risk? If I've defaulted on this loan which I have, surely this default would of been recorded on my credit file?

 

I can't seem to see anything under the consumer credit act in regard to credit checks or carrying out checks before the issue of the loan.

 

Hope that makes sense I often go on a tangent

 

Mark

[dx100uk]

but yu can still reclaim from welcome..free money.. go get an sar done

unless you already have all the statements and the agreement?

 

 

dx

[hypuk]

Hi dx

 

I think I shall do that

 

Sorry I'm fairly new to all this and when you kind of get to grips with one thing then up pops another.

 

Many thanks for your help.

Mark

[fkofilee]

Hyp... I see you have been on another site...

I would suggest you stay well away from that site and stick with us here at CAG.

 

We will point you in the right direction.

[hypuk]

Hi Fkofilee

 

Which forum would you like me to stay away from an why?

 

I cam across the other forum first whilst faced with my issue.

 

I tried sending you a PM but the forum wouldn't let me due to not posting 30 posts.

 

Thanks

Mark

[renegadeimp]

Any get out of debt free, bailiff or Freeman sites will give you the wrong information, and you may well end up in more trouble with your creditors, and then blocked from those sites when you try and ask why their info is wrong.

[hypuk]

Ok

 

But if the Debt collectors are being under handed and trying to recoup debt in a unlawful way surely there is a need for these kind of forums?

 

What's different between the advice given on this forum as apposed to the others?

[obiter dictum]

The majority of advice on this forum can be independently referenced. That source material will be statute or case law links

 

That is sadly lacking on the other forums

[fkofilee]

Its mainly the 3 letter processes etc that is the problem.

[obiter dictum]

No doubt they pay some sort of fee for this three letter process as well??

 

[EDIT] comes to mind

[fkofilee]

i was quite lucky to get in contact with one of GOODF's Administrators and asked about the 3 letter process.

What its for etc?

 

Heres the deal... The reason why they do the process is to counteract the debt outstanding.

Where they do the Tacit Agreement, they look to invoice them for each contact etc, its pretty simple but it has no basis in law... Simple as.

 

Do it the the CAG way... the Proper way.

[hypuk]

The three letter process is free as the templates are available to download on the their forum.

 

I see some people are having success with the three letter process though.

 

What is the CAG way then?

 

As I've been advised just to nothing and ignore the letters from MMF, surely this can't be the CAG way.

 

I'm not trying to cause trouble, I just want t ascertain the best way forward in order to deal with MMF.

[obiter dictum]

Motormouth is well known on this forum for not following legislation when it comes to debt collecting.

 

I have had motormouth chase me since 2011, not once did i contact them in anyway on an old payday loan. They even had the cheek to record it on my credit file as a student loan. It is now statute barred

 

No matter what you say to motormouth they will ignore you and spam you threatening hang draw and quarter unless you pay up

 

Once a DCA starts playing by the rules, then i will

 

And what they do not tell you on the three letter process on that other forum is that they either then litigate, or sell the account to another DCA.

 

You can never cancel the original debt

[hypuk]

I shall not be contacting them either way.

 

However surely the contract sill lies with the creditor and not the DCA though.

 

I'm not scared of them in any way shape or form to be honest. If it's taken them since 2011 to respond they can't be that bothered in collecting the debt.

[madmatt101]

CCA them, If they can't produce the agreement in the timeframe they can take a hike

[obiter dictum]

The original creditor sells the Debt to the DCA by assignment. The DCA then becomes the creditor under the Law Of Property Act 1925 and can litigate under their own name

 

Debt is a commodity the same as anything else and can be bought and sold

 

Forget all this Freeman Garbage