OFT debt collection guidance

[Ford]

To reiterate why this link is useful - under CPUTR a company that says that it has signed up to a code of practice must comply with it by law. The downside is that only Trading Standards can bring an action under CPUTR, so it's unlikely to happen, but it doesn't hurt to remind DCAs.

 

and now law firms can join the csa, and so would have to sign up to the csa code as well?

http://www.csa-uk.com/csa-news/57/csa-votes-to-accept-law-firms-as-members

[dixkaz]

Dont Know if I am placing this in the right place but its just a big thank you for all the advice i`ve read on this sight. Using what you`ve instructed I`ve managed to get Rossendales to accept £10 pm to pay off my debt instead of the full amount they were demanding.Againmy very grateful thanks

[Ford]

Dont Know if I am placing this in the right place but its just a big thank you for all the advice i`ve read on this sight. Using what you`ve instructed I`ve managed to get Rossendales to accept £10 pm to pay off my debt instead of the full amount they were demanding.Againmy very grateful thanks

 

dix

good that things are ok, and cag has helped

[Ford]

november 2012 revision (re misuse of CPA) to oft guide:

http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/debt-collection

[iknowmyrights]

just a quick question- the complaints form to send to the OFT is not laid out for individuals, but as has been said individuals can use it. In parts 1 & 2 it asks for 'your address' and 'clients address', which one shall i fill in? do i then fill in the rest putting my complaint in the spaces where it says- "a) When and how did your client first become aware of the debt collector?" etc etc.

It is worth sending copies of letters sent to me by the DCA or is it just more efficient to email my form and then back up with copies of evidence later by post if needed?

thanks

[Zonker]

I notice through a trail of links they onto payday loans and one little phrase, on page 8

 

Such reports raise wider social issues that fall outside the remit of the OFT. [/QUOTE]

 

http://www.oft.gov.uk/shared_oft/business_leaflets/general/OFT1466_PL_Rev_Interim_Rpt.pdf

 

Its good to see that they have picked up that people are getting these payday loans not for ease of living, but a neccessity to live.

[Ford]

links to those reports mentioned there;

http://press.which.co.uk/whichstatements/half-of-people-taking-out-payday-loans-cannot-afford-to-pay-them-back/

http://www.comres.co.uk/poll/579/r3-payday-loan-poll.htm

 

Its good to see that they have picked up that people are getting these payday loans not for ease of living, but a neccessity to live.

but, what can they do about 'social issues' outside their remit, apart from try to ensure that payday co's comply with their licence?

[Zonker]

“We hear talk of ‘zombie’ businesses, but seeing individuals run their finances in the same way is troubling. ‘Hanging on’ each month simply cannot be maintained forever. This group will have very few options should interest rates rise or their circumstances change.”

 

http://www.comres.co.uk/poll/579/r3-payday-loan-poll.htm

 

hope OFT gets their big stick out with the ILG seemingly being ignored

[Ford]

“..

 

hope OFT gets their big stick out with the ILG seemingly being ignored

 

that's what i mean, ensuring compliance with the guides and in turn 'their' licence. but, outside of that re the 'social issues', the oft can't do much as they acknowledge themselves!

[Ford]

november 2012 revision (re misuse of CPA) to oft guide:

http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/debt-collection

 

further to that, oft issues 'principles' re CPA's

http://www.oft.gov.uk/news-and-updates/press/2012/117-12

[Shelley181146]

Can I please ask what the rule of thumb is regarding a DCA requesting income/expenditure sheet as proof of circumstances when reviewing a repayment plan?

 

Is it obligatory that this is provided even when regular repayments have been made inline with the agreement set up?

[Zonker]

They arnt entitled to it. Basically only a court can make you fill in one.

[BRIGADIER2JCS]

The best way of dealing with I&E requirements is to than them very much for prompting me to check my finances, having done so I have concluded that I may have to reduce my current level of payment within the next 3 months to avoid causing myself hardship.

Also the OFT Guidance states it is unfair to press ''debtor'' to pay more than the can reasonably afford.

[Shelley181146]

They arnt entitled to it. Basically only a court can make you fill in one.

 

Thought that was the case, thanks

[Shelley181146]

The best way of dealing with I&E requirements is to than them very much for prompting me to check my finances, having done so I have concluded that I may have to reduce my current level of payment within the next 3 months to avoid causing myself hardship.

Also the OFT Guidance states it is unfair to press ''debtor'' to pay more than the can reasonably afford.

 

Thanks Brigadier.I will draft a nicely worded letter, lol.

Can't wait to get these clowns of my case.

[Ford]

'OFT publishes guidance on the power to suspend credit licences'

http://www.oft.gov.uk/news-and-updates/press/2013/17-13

[Ford]

for reference: the oft full 'payday lending compliance review'

'The review has found evidence of widespread non-compliance with the law and guidance across the sector and at every stage in the life-cycle of loans.'

http://www.oft.gov.uk/OFTwork/credit/payday-lenders-compliance-review/

[Ford]

one payday lenders' (MCO) credit licence now revoked

http://www.oft.gov.uk/news-and-updates/press/2013/23-13

Edited March 19, 2013 by Ford

[Ford]

for reference: the oft full 'payday lending compliance review'

'The review has found evidence of widespread non-compliance with the law and guidance across the sector and at every stage in the life-cycle of loans.'

http://www.oft.gov.uk/OFTwork/credit/payday-lenders-compliance-review/

 

oft take note, cab say 'unscrupulous' paydayers 'out of control' http://www.bbc.co.uk/news/business-22687230

Edited May 28, 2013 by Ford

[MrNosey]

Any help would be appreciated....

 

My partner had a small invoice of approx. £180 sent to her by Vets Now Emergency Care and that she agreed to voluntarily pay in small monthly instalments of £25, something they accepted but didn't agree to as they just kept on telling her that the invoice must be paid in full. She had paid £75 over 3 months (obviously their 90 day period) and then she received a letter from a debt collection agency informing her that they were now pursuing the debt on behalf of Vets Now. The debt was now £180

 

Once she received the letter I asked for a full statement from the debt collection agency and then on receipt I paid the original debt only. However my partner is now being perused for the outstanding balance equating to charges of £75. Ive talked to them on the phone explaining my belief that that they were only acting on behalf of Vets Now so were not entitled to add charges however they refuse to discuss the matter and just keep referring to their account not being closed.

 

My partner has not received any further letters as of yet... however once she does we will be able to respond in writing formally.

 

How should I approach this ? We can pay the outstanding balance but I don't agree with the working practices of these companies and im not paying anything that they are not entitled to.

 

Also....... any chance to give Vets Now Emergency Care a bit of bad press is certainly welcoming......

Edited June 24, 2013 by MrNosey

[BRIGADIER2JCS]

Hi welcome to CAG,

 

Pay only £105.00 direct to the vets and inform the agents you have done so.

[Ford]

OFT refers payday lending market to Competition Commission

http://oft.gov.uk/news-and-updates/press/2013/45-13

[MrNosey]

What about the debt collection agency demanding that I pay their administation fee?

[BRIGADIER2JCS]

What about the debt collection agency demanding that I pay their administation fee?

 

Unless there is a specific part of any written agreement with the vet that allows such charges refuse to pay.

 

OFT Guidance 2003 updated November 2012 section 3.11 (a) © refer 'Misleading debtors into believing that that they are legally liable to pay recovery charges when this is not the case.'

 

'Claiming recovery costs from a debtor in the absence of express contractual provision to be able to do so'.

I this situation it would appear that such charges are no allowable.

[Peterbard]

I am not sure that the OFT would be interested in this, although I certainly would not pay any unsubstantiated extra charges. Who is the DCA ?