TBI/Silverman DCA and 20yrs old Cap One Loan - been paying forever it seems

[Jetblue]

1st post so I just want to say hello to everyone and say what an amazing and informative site this is.

I will be needing some assistance very shortly and will be posting my query soon.

Fantastic site !

[honeybee13]

Hi. Congratulations on your first post.

 

If you don't know which subforum to post in, let us know on here and we'll point you in the right direction.

 

HB

[Jetblue]

Hi, thanks yes, my topic relates to a 20 year old debt which we defaulted on, was passed onto TBI financial services about 19 years ago and now has just been passed to Daniel Silverman debt collection agency. 

I want to attach the letter for you to see along with my message to yourselves just to know how and the best way to proceed with it. 

Many Thanks

[dx100uk]

When did you last pay anything

what was the debt type

and who was the original creditor

[Jetblue]

I last paid £20 installment about 5 months ago.

The original debt was a £7500.00 unsecured loan.

The original creditor was Capitol One.

[unclebulgaria67]

Any CCJ ever ? Any period of 6 years clear where you have not paid anything or admitted to owing the debt in writing.

[Jetblue]

No CCJ on this debt as I recall, no 6 year gap in paying as I have paid £20 per month for approx 19 years.

[unclebulgaria67]

How much have you repaid in total ?  Must be close to £5000.

 

You can't have much left to pay ?

 

Might be worth you stop paying and see what happens. Let them prove they have the necessary documents to enforce the debt. If they can't provide the original CCA, then they cannot enforce if you defended any court claim.

[dx100uk]

god stop paying them now

cash cowed blind !!

 

wack them off a CCA request

 

just remember TBI silverman whomever are NOT BAILIFFS

and have 

zero legal powers!!

 

not blindly paying any other debts to a DCA are you?

 

dx

 

[Jetblue]

The letter ive just had says a balance of £3,409.84p, I dont know how accurate this is as i havent had a statement recently but I imagine it is fairly accurate, which would mean ive paid about £4000 ish out of the £7500.

 

So sending them a CCA request on Monday is my next step? Always by post and not email?

 

I dont think Im paying any more DCA's but my daughter has an issue with Student Finance Wales which has been passed to Advantis credit which I need to help her with so starting a seperate thread will be the way on that one I guess?

 

[Peterbard]

There is something to consider on this first. If the default does not appear on your credit file currently, and never has. They can place one when you default now.

 

You need to be cautious, if a default has appeared on this account before and just dropped off, you should be OK As they cannot default the same account twice

[Jetblue]

I imagine it defaulted many years ago near the beginning but the last time I checked my credit file there was no record of it  but to be honest, because of my recent situation my credit score is pretty bad lately anyway.

[dx100uk]

a debt buyer cannot issue a default notice

[Peterbard]

He cannot issue a DN under 87, but as we all know that is different to putting a D on your file and stuffing your credit for six years, we have had a few on here UB.

 

I refer of course to the credit marker.

[Jetblue]

So, am I better not paying and waiting a while and see if they come up with the original CCA or do i send a CCA request straight away?

 

Thanks

 

I dont know if it makes any difference but the letter from Silverman says TBI are their clients but all future payments to be made to Silverman and not TBI.

[dx100uk]

Potential lenders cant see the calendar section

A d 6 or whatever does not result in a default status in the summary of the debt

[dx100uk]

Send tbi a cca request

[Peterbard]

This is from the updated guidance, see the highlighted provisions

 

It is important that you are made aware when such arrangements are made and maintained, that it will show on your credit file and that whilst arrears may accrue and increase, a default will not be recorded. 
 
Following a satisfactory period of payments under a temporary arrangement, and if the lender agrees, the status on your account may be set to zero; although the history will remain. This can be described as capitalisation, re-scheduling or re-aging. Depending on the product this could result in adjustments to how your account is reported on your credit file e.g. the payment amount, repayment period as well as the status. Should you make full payments from this point onwards your account will be classified as being up to date.  
 
If after a period of time a permanent change in terms on an account occurs then if appropriate, the revised terms should be recorded at the CRAs and payment performance calculated against the new terms; in such circumstances there will no longer be an arrangement in place.  
 
If your lender agrees to give you a temporary arrangement, but you fail to make the agreed payment against the new terms, they may still file a default (see Principle 4 below) as soon as a payment is missed, as long you were at least 3 months in arrears on the original agreement. 

 

I am afraid i dont know what you mean about this not being visible, it would seem to me,

to defeat its own purpose if it were not visible ?
 

[Peterbard]

2 hours ago, Jetblue said:

So, am I better not paying and waiting a while and see if they come up with the original CCA or do i send a CCA request straight away?

 

Thanks

 

I dont know if it makes any difference but the letter from Silverman says TBI are their clients but all future payments to be made to Silverman and not TBI.

 

The situation is this.

A default notice issued under guidance. Is not the same as a DN under the Consumer credit act, all the former does is warn the debtor that the lender intends to record a default on his file, nothing more. A default notice issued under the CCA section 87, warns the debtor that he is in default of the agreement and gives him opportunity to remedy before further enforcement action is taken, nothing to do with data recording.

 

Now this is where the complications start, because although a section 87 notice has nothing to do with data protections, in fact it does not mention it at all . The very fact that the lender sent it indicates the account is in default, and this must be recorded on your file. So, if a Section 87 is issued it will trigger default on your file.

 

The opposite is not true however, if the lender chooses to record that you have defaulted, he can send you a notice stating that he is going to do just that in 28 days, but only that, this action has no relevance to enforcement.

Edited June 8, 2019 by Dodgeball
spelling error

[dx100uk]

as your post 11 db

 

 

 

 

[Peterbard]

Just so. DX