Unclebuck redress awarded, but refuse to cover outstanding loan

[Ninja1337]

So long story short.

 

I had a number of re-occurring loans with Unclebuck, I made a complaint in regards to my latest one back in 2019, got to an agreement to remove default markings and charges etc and just pay the principal.

Didn't pay the outstanding amount due to personal reasons, being put on Furlough was one of them.

 

Saw that Unclebuck went into administration, made a redress application a couple of weeks ago, got awarded £807 for previous loans (not the latest one).

So I contacted the administration to confirm they would pay the redress amount towards my outstanding balance, but they said they cannot do so?

 

How is that fair? I get they they can't pay me any cash, but surely they should be able to write off the current outstanding amount, it has to work both ways right?

This was the latest response I got, so far no reply from their solicitor yet.

 

"Whilst I note your comments concerning your desire to set off Redress due in respect of unaffordable loans against your current loan that was not eligible for Redress, unfortunately the Administration precludes the position of set off until the Administrator makes a declaration under Rule 14.29 of the Insolvency Rules 2016. This declaration has not been made by the Administrators and will not be made as there is no distribution or intended dividend to be made to creditors in this particular Administration. Whilst I sympathise with your position, you will appreciate that the Administrators are governed by statute and cannot contract out of it.

 

I promise to speak to our solicitors to see if there is any room for manoeuvre on this matter and will come back to you afterwards, however I feel that it is unlikely. As you will appreciate making an exception for you may open the Administrators to claims from other customers in a similar position to yourself and indeed from other customers that do not have the benefit of another loan to set their Redress off against."

 

And to further add to it, I got an email today saying they transferred the loan to a collection field agency "Conexus Recovery and Field Services Ltd "

 

[dx100uk]

They talk sence. So await the money. An administrator is placed in a difficult position upon how they can distribute funds they administer

 

so ignoring the powerless dca's , who currently owns the 2019 outstanding one? Who are 'they' ....

[Ninja1337]

The thing is, the administration has said there will be no payment coming.

 

"Unfortunately, whilst we have added your unsecured claim to the list of creditors within the Administration, regrettably due to the lack of funds in the Administration, there is no prospect of a dividend being paid to unsecured creditors. This means that notwithstanding your entitlement to Redress no payment towards your unsecured claim will be made. More detailed information on the reasons for this can be found in the Customer Redress Scheme and FAQs, which can be found by clicking on the link in paragraph 2 above."

 

So, I will obviously continiously beeing chased by UB or the debt collectors.

 

It was Unclebuck who emailed today saying the transferred the agreement to them

[dx100uk]

yes sorry i was confused that you had managed to get anything out of the administrators.

we've not seen that and was surprised by it read that way.

 

your credit file is clear Conexus Recovery and Field Services Ltd - can be totally ignored.

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

[Ethel Street]

What the administrators are saying is that unsecured creditors, as you are for the £807, will receive nothing. If they used the £807 to reduce a different debt you owe to Unclebuck that would be the the same thing as paying you £807. Legally and financially reducing a different debt by £807 is exactly the same thing as paying you £807 in cash. The administrators are not allowed by law to do that. Frustrating for you I know, but the Administrators are correct.