Debt questions from around the world, helping each other by giving and receiving advice on UK based debt.

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By cabasse
#472343 Hi I live in France, in my girlfriends house. I also own a property which we use as a holiday home , also in France. In January 2015 I opened an account with an exchange rate co. I wanted to move some money from my account in england to my french account. A verbal contract was agreed at a set exchange rate. I sent a cheque from france to england in stirling which they never recieved. I did not use recorded or tracked postage. I can't prove I sent the cheque. They cancelled the contract and demanded payment to cover their losses. 3,600 pounds. I now have a dca chasing me for nearly 5000 and being threatened with court action. I am unemployed , resident in France. I have no assets other than my house in France, and some savings in england and some in france. I don't feel I should pay although I think I maybe liable under the terms and conditions from the orginal exhange co. What should or can I do ? cabasse
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By JaneClack
#472344 If you are disputing the debt then you would need to use the court procedures - depending on how long you have lived in France you could use the English court procedure. You will need to seek professional advice on this.

There are lots of ifs and buts in this question - was the cheque cashed? If not then £3,600 to cover losses seems a bit extreme if you did not receive any benefit. If it was it needs tracing.

You talk about an exchange rate company - not a bank. Are they regulated by the FCA? Have you written to them asking how the bill was made up - if the cheque was cashed then you have a trail to follow - if it wasn't then it may be that you did owe them money as contracts can be verbal as well as written.
By cabasse
#472346 Thanks Sarah, the currenct exchange co. bought euros on my behalf , terminated the contract and rebought stirling incurring a 3600 loss. The cheque has never been cashed, I can only assume it arrived after the contract was cancelled and they binned it . Or it got lost somehow, and never delivered , nor has it been sent back to me. I have now have a dca on my back. If they do go to court and I have lived in France for over 10 years, will they then go to court again in France ? Thanks Cabasse
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By JaneClack
#472347 They could sell the debt on to a French debt collector if they wished or if they were really determined bankrupt you in your absence and then all your assets worldwide could be claimed by the Official Receiver.