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Hello all! I do hope someone can help me on this matter. I'm so very stressed and upset that I don't know what to do next? I have received a letter today regarding a payday loan from many years ago. I won't go into detail, but after a relationship breakup I fell into payday loans, and like many others out there, found it spiralled out of control in no time..destroying my excellent credit rating in the process. The letter today includes the following : a letter from payday express, stating the debt has now been assigned to PRAC. A letter from PRAC saying they have acquired the debt and have appointed BW Legal to represent them! Finally, a letter from BW Legal requesting the balance of £437.34, but offering a 10% discount if I reply by 2.Feb. This was all delivered in one neat little package for me to fret about. I honestly can't remember when I last had any contact with Payday Express, and now this has come back to haunt me. Please can someone advise on what to do? Many thanks
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Re: BW Legal
Good afternoon, welcome to LB.
Ok, some details please.
1. When was this account defaulted?
2. When did you last make a payment or acknowledge the debt in writing?
3. Does this appear on your credit files? You can check Clear Score or Noddle free online.
4. Is there a threat of court action in the letter?
I'd heard that PRAC had acquired a few PDL debts most of the very old.
nem -
Re: BW Legal
Many thanks for your reply.
I checked clear score and this is now listed as an open account? ( I'm pretty sure it wasn't? ). It says the account was opened in March 13?! I actually think it could be older as I was experiencing all my financial problems around 2011 / 12. I haven't made any payment to this in Atleast 4 years or more, and I certainly haven't made any acknowledgement with regards to it. This is first correspondence I have had in who knows how long? As yet, there is no mention of court threatComment
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Re: BW Legal
Ok, Which company name is on the credit file entry please?Originally posted by jarka16 View Post
Payday Express I know has in the past sold " live " accounts (not defaulted) did you ever receive a Default Notice?
Might be worth checking Noddle as well, entries have shown different data before.
nemComment
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Re: BW Legal
On Clear score, the debt is only listed as open with the amount...it doesn't even say who now has it?! It just says Instant Cash Loan?! I honestly can't remember of any default notice, it's so old. This letter of assignment is first I have heard from them in years. I'm slightly baffled by all of it. Just checking my score and that has gone up. I don't want these guys dragging it back down and taking me to court!Comment
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Re: BW Legal
Definitely check Noddle or get a free trail on Equifax or Experian, if account has not been defaulted by the original creditor is a big disadvantage,Originally posted by jarka16 View Post
nemComment
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Re: BW Legal
A disadvantage for myself or creditor? Sorry if I'm being a bit dim. Finding it a little stressful. I'll check my credit with NoodleComment
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Re: BW Legal
Please don't stress over this ask as many questions as you like we will always listen.Originally posted by jarka16 View Post
Had the original creditor defaulted the account when payments ceased and no payments or acknowledgment had been made since it would be well on the way to being statute barred i.e. no court action could be taken.
This is why the dates and checking for the default date is important.
nemComment
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Re: BW Legal
Hi again. I checked on Noodle. The account is still listed as Payday Express...and account up to date? No mention of defaultComment
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Re: BW Legal
[QUOTE=jarka16;700222]Hi again. I checked on Noodle. The account is still listed as Payday Express...and account up to date? No mention of default.
BW offering a discount at this early stage is interesting doesn't usually come up so quickly.
Choices send BW Legal a Prove It Letter requesting evidence that the debt is yours. Or send them a request for a copy of the Payday Express Agreement (CCA Request) a £1 fee is payable ( a Postal Order marked "for statutory fee only" there's a template in the green box at the top of the
" court claim" forum.
I suggest that a call to Payday Express to see if they are willing to tell you if the debt was actually defaulted, if it's not we can try and get a default placed near to the time payments ceased.
Ask For The date of the final payment and the default date .
nemComment
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Re: BW Legal
Many thanks. I will request a CCA from BW and send off tomorrow and take from there. Will also try find out information regarding default. My main concern is that these BW guys go down the court route pretty quickComment
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Re: BW Legal
They have set their deadline if some kind of challenge/response is not made they may move very quickly!Originally posted by jarka16 View Post
Use signed for post so you can check delivery date they have 12 +2 Working days from the day they receive the request to comply
nemComment
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Re: BW Legal
I just checked Noodle ( again ), and this account is also listed in closed accounts as 'satisfied'. There is also a default date of August 13!?Comment
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Re: BW Legal
OK, Now we know, does this default date seem plausible, a default should be placed within 6 months of the cause of actions i.e. the cessation of contractual payments?Originally posted by jarka16 View Post
It's marked satisfied because PRAC has paid Payday Express a few pence in the pound for the debt.
PRAC have yet to update the credit files it seems so keep a close eye on the files if they update without showing the original default date it will need action.
nemComment
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Re: BW Legal
It says account start : March 13
Account end : August 15
Default date : August 13.
I do think I stopped payments on thus early 1
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Oops! Stopped payments early 2013Comment
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