Arrows/Watch Portfolio/ TTI SPC. EGG loan Debt - wont accept PO

[Stagparty]

Hi All

 

I've received a letter today saying that Egg are assigning the loan account I have with them to Britannica Recoveries to be serviced by Arrow Global and the transfer is to take place in about 10 days time.

 

To date I have been making regular token payments to Egg and have not missed a payment.

 

My original agreement appears to be a Multiple Part Agreement with both the Loan Principal and PPI payment covered by just one set of terms and conditions rather than one for each separate part of the agreement. I think this could be a s18 agreement

 

I have tried reading the forums but have to confess to be being rather confused as to how the judgement in "Heath" might affect me.

 

Could someone please advise me and also suggest if it would be worthwhile or not writing to Egg to put the account into dispute. If the account is in dispute am I right in thinking that the account should not be transferred to Arrow?

 

Many thanks in advance from a very confused Cagger!

[BRIGADIER2JCS]

Yes you could put the account into dispute to buy a little time.

The account can be sold or assigned to a debt purchase company

or a debt collection agency of their choice, you will see a section on

this in the agreement.

[Stagparty]

Thanks very much for the quick response.

 

I think the bit whereby I am getting confused is that if the agreement is improperly executed (as it is a multiple part agreement) then do Egg have the right to transfer the debt to anyone?

[BRIGADIER2JCS]

Can you post up the agreement after removing personal details and any bar codes leave in dates and amounts?

[Stagparty]

I'll scan them as soon as I can and try and post a link to Photobucket - please bear with me for a little while - I really appreciate your help!

[Stagparty]

Hopefully this is the first page

 

Hopefully this is the second page

 

Thanks again in advance!

[BRIGADIER2JCS]

Hi stagparty it's a bit small but just readable I'm going to bump this so

others get a look and advise as I'm not to sure about the two part

agreement so don't want to give the wrong advice.

BUMP

[Stagparty]

Hi 

 

I have a debt which has recently been transferred to Watch Portfolio to administer on behalf of TTI SPC. 

The original debt was with Egg for a loan.

I think I received a Notice of Assignment years ago from Arrow Global but I might be mistaken but I don’t recall anything telling me it was assigned to TTI SPC.

 

Watch Portfolio have accepted my offer of token payments but will not accept payment by Postal Order. However they will accept a cheque or BACS payment.

All my other depts are paid by postal order each month.

My mental health is not good and the routine of sending a postal order works for me.

 

As far as I am aware postal orders are cashed at a bank in the same way a cheque is so I am unsure why postal orders aren’t accepted by Watch.

 

Can they legitimately refuse to accept postal orders?

 

Many thanks in advance!

[BankFodder]

Write to them with a formal letter of complaint and tell them that you want the complaint escalated to the financial ombudsman.

Include the postal order in the letter of complaint.

Every month send them the postal order again plus the one for the next month.

They are entrenched in their own systems and you need to give them a little bit of a hand to leverage them out

[Stagparty]

Thank you for the quick response.

 

I am right in thinking they shouldn’t refuse payment by Postal Order aren’t I?

[BankFodder]

I can't see any reason why they should refuse or why they would be allowed to refuse. Put it to the ombudsman to get a more authoritative decision. Frankly I doubt whether it will go to the ombudsman – I would expect they will put their hands up instead of making trouble for a silly point of principle

[Stagparty]

Thank you for your help

[ericsbrother]

look up mitigation of debt before you contact them again.

By refusing the payment they may well  have decided they dont want the money and  the debt is settled as far as they are concerned and the courts will accept that as being true by their actions.

Basically they have disabled themselves from performing their side of an agreement

[dx100uk]

Thread title amended 

 

why are you blindly paying these people anyway?

 

how old is this debt?

have you ever sebt them a CCA request to prove they hold the legally enforceable paperwork to even demand money from you??

 

same for any other debt you are blindly paying too!!

 

 

dx

 

[Stagparty]

@dx100uk Thanks for the comment. The debt is around 10 years old and I’ve been making payments monthly after verifying it was valid courtesy of some other kind folk on here many years ago.

I have sent the CCA request and it was correct.  

[dx100uk]

that was 8yrs ago!!

and going by the posts ive found and merged here above

it wasn't deemed enforceable.

you should have comeback here when it was sold on too

 

 

send a new CCA request to arrows

stop paying now 

you are being cash cowed blind.