Your views and questions.

Moderators: TalbotWoods, JaneClack

By esme23
#251743 hi i have a debt of £3549.03 which was with moorcroft but had not paid nothing off it but got a letter today from wescot with same account number on it as moorcroft but for £5549.03 have seen some where in a forum that if a send a £1 postal order with a letter asking for proof of this debt is this right. i will pay what i owe but not what wescot are asking for. please can anyone help
By nomlas
#251773 Yes you can request that they send you a copy of a fully executed credit agreement. You should state that you believe you are entitled to receive it under the 1974 Consumer Credit act. Send a postal order for £1 as the stipulated fee and advise them that they have twelve working days to supply it.

I would head the letter with - I do not acknowledge this debt to yourselves - As Wescot have increased the amount, although it seems to be a typo, I think you are quite entitled to head the letter in this way. I would NOT inform them that they have upped the total amount and that it has increased by £2K, keep the Moorcroft letters.

From your earlier posts I see you have no assets, put that in your letter, in BOLD CAPS, and send the letter recorded delivery.

You are in a good position in as much that you have no assets and there is little the creditors will actually do apart from harassing you with phone calls and letters. You could also consider Bankruptcy.
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By DuffNCustard
#251913 Good advice from Nomlas there I would though recommend you do not offer them any additional information.

I'm pretty sure that DCA's check the land registry to see if you own property.

On the other hand if they are idle b'stards and don't do their research properly they will rack up their own costs - every letter etc.

Only a very minor point from a scarred veteran deploying lessons learned from handling auditors!
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By TalbotWoods
#251923
nomlas wrote:Yes you can request that they send you a copy of a fully executed credit agreement. You should state that you believe you are entitled to receive it under the 1974 Consumer Credit act. Send a postal order for £1 as the stipulated fee and advise them that they have twelve working days to supply it.


Since last year they do not have to provide a fully executed copy of the credit agreement, all they have to provide is a reconstituted copy of the agreement and terms and conditions that applied at the time the agreement was made.

This is a result of the lovely Claims management Companies forcing the issue in court and losing us yet another right in their quest for greed.

Oh and just to cheer you up, it is now becoming acceptable in court for the judge to accept the reconstituted copies rather than a genuine copy.

So they lost us the best defence we had!

Tim
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By Gazza1912
#252323
all they have to provide is a reconstituted copy of the agreement and terms and conditions that applied at the time the agreement was made.
Please forgive my ignorance but what precisely does 'reconstituted' mean when it applies here?
By nomlas
#252853 I dont know what constitutes a reconstituted copy either. However regarding the recent ruling by Judge Waksman at Manchester High Court, who said in the judgement that a reconstituted copy will surfice; he also states that if the terms have been varied then the debtor is entitled to see a copy of the original agreement. As virtually all Credit Card Debts have been varied, if they are a good few years old, I think that if this is pointed out to the Creditor/DCA then it is worth going for it.

I recently had a DCA who started hassling me to increase my payments, I sent a letter requesting a true, fully executed copy of the agreement, stating that the terms had been varied and quoting Waksman, they wrote back and said they had returned the debt to the Original Creditor and had closed their file, or words to that effect. I have now stopped paying that debt and I will wait and see what happens. It probably wont work with Bank Loans but with Credit Card Debts (pre 2005) it might well do so. Just my opinion.

Duff: I always write NO ASSETS in bold because I think it leaves them in no doubt from the very begining. I agree with not giving them any more info than need be but I am always slightly worried that a Creditor/DCA might just start court action without realising that it is not realy worth it, and once started they might do a Magnus :) . I certainly do not wish to go to court if I can help it, however it would not be the end of the world. I have read on here a few months ago of Santader taking someone, with no assets, to court, and for very little money aswell. Regards and best wishes. -- nomlas
By chandjay
#252913 Hi Nomlas,
I agree with you about your "NO ASSETS" warning to creditors.
In the past I also did one other thing whenever my creditors threatened Court Action.... I always said(either phone or letter or both) to my creditors :-
" Well, go on then. It's YOUR money that you are wasting as YOU will have to pay the Court Costs. Don't think that you'll be able to recover you're Court Costs by adding them to my debt, because if I can't pay my debt, then how the hell am I gonna pay you're Court Costs - No ! if YOU take me to Court, then I'll end up still paying the same as now, but YOU will end up with the bill ".

It seems to have worked, as I had 26 creditors(now 24) and even though I have give them a lot of grief over the last 4 years, not one of them has taken Court action against me.
Bear in mind that when I started my DMP , I was paying my creditors four hundred and odd pounds a month, and 4 years later, I was paying them two hundred and odd pounds a month, even though my wages and private pension had gone up quite a bit in that time(although I was paying 2 less creditors).
I'm still astonished that not one of my creditors chanced their arm at court - They probably didn't want to risk throwing good money after bad.
By esme23
#254863 Hi, got a letter back today from wescot saying that i still live at my address, i have not replyed to there last letter and are either taking me to court or coming to my door for door step collection.
i sent my letter recorded delivery and a postal order saying what you advised. is this where way of getting me to call them. P.s wescot dated there letter the same day i sent mine off
By nomlas
#255043 I would not worry too much about either court or a doorstep caller, you have no assets so it is very unlikely they will do any of those things. As you have sent a CCA request I would just wait and see what happens. Please advise if you hear anything.