Azzuro / Shires bought Capital on Tap debt with personal guarantee. Advice needed RE Rights with B2B lending

[Reneigh2858]

Hello, New hear and apprehensive so pls be kind :-).

I have the same issue described,

Azzurro/Shire Recoveries - old capital on tap debt business loan i guaranteed - who do I deal with? - Page 2 - PayDay loans and Short Term loans - General - Consumer Action Group

my husband started a ltd company in Oct 2019 just prior to Covid,

he was offered business to business credit via capital on tap and signed a personal guarantee.

He defaulted on the agreement when business suffered during covid.

He buried his head in the sand for several months (I wasn't even aware!!!) to add further context he has PTSD and ADHD - Very impulsive.

Debt was sold by COT to azzurro associates who have then assigned it to Shire recoveries.

Shire report they are acting on behalf of Azzurro I assume they do not own the debt.

Debt is 20K

for the last year we have made payments of £160 p/m.

This is reviewed every three months.

They have said their client will no longer accept these amounts. 

Unhelpfully husband has never kept any correspondence I have requested the original agreement, I;m still waiting.

I am unclear on my rights with B2B lending

[Andyorch]

Please start your topic on this matter I didn't realise you wanted someone else topic opening.

 

Andy

[dx100uk]

gather all the info first

send COT an SAR.

is the business registered at your home address?

ltd or sole trader?

is it now formerly registered closed?

dx

 

[Reneigh2858]

Are they obliged to send copies of the correspondence they have sent? I saw on another thread that COT wouldn't deal with the SAR as they'd sold debt to Azzurro

Business not registered to home address however we have been receiving letters to home address, it is a limited company. 

 

Azzurro are requesting personal and business bank account statements

Business still trading...just! only other debt is BBL but this is been paid via a payment plan.

 

TIA Tanya

[dx100uk]

you are not after correspondence you want a complete sar just send it.

just because someone else gave up and never posted again here and didnt push it to the authorities to enforce the sar, you dont.

good that its no registered at the home ad and as its a limited company thats good too.

shame about the pers guarantee but i wonder if its enforceable.?

have you still got all the paperwork or will you  have to await the sar return/

why sell such a large debt for pennies... something is wrong..find out what it is.

for now ignore azzurro until/unless he ever gets a letter of claim.

 

[Reneigh2858]

 

 

I have a similar view, why sell it on, however when living with it it feels really tough. They did previously offer a full and final settlement too.

He hasn't kept any paperwork, I have kept all email correspondence I have had with them and proof of payments since I began liaising with them on his behalf from January 2023. Have I shot myself in foot with entering into negotiations. All negotiations have been with Shires but now I feel silly as they do not own the debt?

Am I not making things worse if I stop talking to them should I still continue the interim payments I have been making? He accepts the debt and in the long run wants it paid just can't afford to in full right now or at an extortionate monthly rate?

[Reneigh2858]

just a quick one, been looking at the sample SAR letters in a separate thread. In preparing SAR do I send it RE information  from the ltd company as they lent the money to the business not him personally or directly in my husbands name, he is the sole director?

Thanks for your patience

[dx100uk]

just hit sar

thats what to send read all the posts there too

you send it as whomever they are naming on their letters .

nothing to stop you ref he is the sole director of xxx ltd co though

dx

[Reneigh2858]

Still haven’t had copy of personal guarantee but I have found some old paperwork that may be relevant

I have a default notice from capital on tap in name of my husbands ltd company.

It references the consumer credit act however I did not think this was relevant on b2b lending,

I will post a copy - can you offer a view.

Total amount owed also not detailed

.thanks  

 

Correspondence COT.docx