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Legal and Receivables threatening bankruptcy!!
Feb 4th, 2008, 6:51pm
Hi there. Does anyone know of this company.
I have had a debt for several years now that originally was First Direct. It had been with a collection agency for at least three years who had been accepting 10 per month without any missed payments. I got a letter about 6 months ago advising that First Direct had taken this from the original collectors and had now sold the debt to Legal and Receivables and they would contact me to make payments. When i tried to call L&G on several occasions, they told me someone would contact me in due course to go through my details. I heard nothing since until today when i had a call from them. The guy i spoke to told me that they had never received my I&E i had sent and wouldnt be accepting the 10 i had been making. I asked what their next step would be and he told me they would be looking at any order for bankruptcy.
I had a similar prblem last year with LINK financial who thanks to the help and support from people on this site, eventually backed down and accepted a monthly amount. They were threatening CCJ's and charging orders on my house.
Has anyone come across these guys and if so, what are they like? I'm planning to dig out the letter i sent to LINK that got them to back down and see if i can do the same thing with them.
Thanks Guys.
plumduff
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #1 - Feb 4th, 2008, 6:59pm
I have never heard of them... seem to be more and more "new" DCAs cropping up these days..
One thing.. did they legally and properly have the debt assigned to them..? Did you receive a letter from them saying that the debt had been assigned to them..?
You could consider sending them the "prove it" letter (can someone provide a link..?) This will bide you some time and also show them you are not to be messed with as you know your rights..
If they cannot prove the debt (by providing copy of the original agreement) then there is eff all they can od about it.. And untiil they prove it, you have a full defence in any Court action..
As for their threats of BR... if you contact them again.. which I personally wouldnt do over the phone.. you should stick to writing to them and keeping a copy of all correspondance.. and send recorded delivery... Tell them that you will report their threats to the Financial Services Ombudsman as they seem to be very unfair and harsh to say you are trying to sort things out with them..
But get the prove it letter sent first..
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #2 - Feb 4th, 2008, 10:06pm
I received a letter from Legal and Receivables with a letter from First Direct, stapled to the back of it. Their own letter reads;
NOTICE OF ASSIGNMENT: We give you notice that we have acquired from Phoenix recoveries acting in the name of and on behalf of its compartment "Tessera Recoveries " as assignee of HSBC Bank PLC and all of HSBC's rights in to and under the above detailed account. We will be administrating the account.
As a result of this assignement the full amount outstanding on the account is now due to us.
Under the terms of this assignment, and as defined in the data protection act 1998, we are now the data controller of your personal data contained in the records of this account. The letter stapled to it from HSBC to me states;
I am writing to inform you that the above account has been assigned to L&R recoveries.
This means the effective owners of the above account are now L&R Recoveries.
L&R have now appointed Legal and Receivables Ltd as their servicing agent to manage your account on their behalf. Allcontact regarding this account should now be directed to them.
Is this the letter you meant? If so, where can i go now? I've offered to send them an I&E which shows i cannot afford much, but he told me that 10 per month is not a fair amount (which i dont totally disagree with on a balance of 13000), and it would take me 130 years to pay off, so they don't consider it a fair and reasonable offer even if i can prove its all i can afford.
bing
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #3 - Feb 4th, 2008, 10:13pm
NEVER speak to a DCA on the phone. Ever, under any circumstances. You have no proof of what is discussed and no backup on what is agreed.
Deal with them in writing ONLY
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #4 - Feb 4th, 2008, 10:16pm
Yes, i would normally never discuss anything with them over the phone, but he phoned me and caught me unawares. I asked him quite formally what their next step would be and once he told me bankruptcy, i just thought, i'm not gonna carry on speaking to you, letters only i think. I thanked him for his time, and promptly went home to draft my letter. Low lifes, all of them.
bing
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #5 - Feb 4th, 2008, 10:18pm
Quote from Elsie2 on Feb 4th, 2008, 10:16pm: Yes, i would normally never discuss anything with them over the phone, but he phoned me and caught me unawares. I asked him quite formally what their next step would be and once he told me bankruptcy, i just thought, i'm not gonna carry on speaking to you, letters only i think. I thanked him for his time, and promptly went home to draft my letter. Low lifes, all of them.
Glad to hear it.
Did we ever run through an I & E with you, Elsie? I've read back through your previous posts but it's not showing obviously.
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #6 - Feb 4th, 2008, 10:23pm
I've never done one with you guys, no. I do have one though which i have used when dealing with all other credittors. I've worked out my pro ratas etc to prove that i cannot afford any more than i am offering.
bing
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #7 - Feb 4th, 2008, 10:29pm
I seem to remember that property was a problem? Ie: Therefore can't go bankrupt?
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #8 - Feb 4th, 2008, 10:33pm
My property? Sorry i'm not sure if i've read your post correctly, i may be going off on a tangent. If you mean my house though, its jointly owned by my mother. Not sure if this means i can't go bankrupt but when i had problems with LINK financial, they tried to force me into a charging order which i managed to avoid by some nifty letter writing with some help from here and other forums.
bing
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #9 - Feb 4th, 2008, 10:36pm
Sorry, yep I did mean your house.
If you want to, it may be worth haveing a look at the "A welcome to newcomers" thread. If you give a detailed picture of your circumstances at present we can have a look at the options that may/may not be available.
As far as your original question re L & R, I'm not familiar with the company but I'm sure one of the others here will know them.
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #10 - Feb 4th, 2008, 10:41pm
Ok, will do thanks. In the mean time, i'll await responses from others who i'm hopefull may have an idea who the hell these people are.
tel
Gold Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #11 - Feb 4th, 2008, 10:52pm
It's extremely unlikely any DCA will enforce bankruprtcy proceedings on any unsecured debt. It will cost them lots of money. So relax.
Their threats are almost certainly empty ones and making such threats is in direct contravention of the OFT's guidelines on debt collection. Please do not speak to them on the phone again. Ever. If they persist in phoning, get yourself a loud whistle or just leave them on hold until they p1ss off.
How much is this debt?
plumduff
Administrator
Re: Legal and Receivables threatening bankruptcy!!
Reply #12 - Feb 5th, 2008, 10:44am
You coule write to them with a copy of your I&E showing you can only afford 10 per month..
If you do this, state that to refuse a reasonable and affordable offer is against OFT Guidelines and to make threats of BR, is harsh in the circumstances, also against OFT principals and that if you are harassed and bullied into increasing the offer when you clearly cannot afford to do will result in a complaint being made to the Financial Services Ombudsman..
Should make them accpet and back off..
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #13 - Feb 5th, 2008, 10:52am
Quote from tel on Feb 4th, 2008, 10:52pm: It's extremely unlikely any DCA will enforce bankruprtcy proceedings on any unsecured debt. It will cost them lots of money. So relax.
Their threats are almost certainly empty ones and making such threats is in direct contravention of the OFT's guidelines on debt collection. Please do not speak to them on the phone again. Ever. If they persist in phoning, get yourself a loud whistle or just leave them on hold until they p1ss off.
How much is this debt?
The loan is has about 13,000 still outstanding.
Elsie2
Topic Starter
Junior Member
Re: Legal and Receivables threatening bankruptcy!!
Reply #14 - Feb 5th, 2008, 11:13am
What do you guys think of this????
Following conversations with representatives, I am informing you in writing of the fact that I am unable to clear the balance of the above account in full. Had I had the means to make this payment, I would have cleared the debt whilst it was being held with the original creditor.
I have consistently made efforts to make a payment each month during the lifetime of the debt. I wish to continue making repayments each month whilst you pursue other options, even though in a conversation on the 31st January, I was advised you would not accept my offer of 10 per month.
I am unwilling to discuss my property as this is jointly owned and this is putting undue stress upon family relations.
I have other debts aside from this particular one with other companies, who have frozen changes and interest and have accepted monthly payments having seen my Income and Expenditure.
I feel that I have always treated my creditors fairly when offering payments, and have pro ratas my disposable income. As I have a number of debts, making any sort of order or charge against me or my property would give Legal and Receivables an unfair priority over my other creditors.
As this is an unsecured debt and is governed by the Consumer Credit Act, I am obliged to offer only what I can reasonably afford. By refusing this offer outright, you directly contravene the guidelines set down by the Office of Fair Trading. Furthermore, by threatening me with bankruptcy as happened in the conversation on the 31st, this also contravenes OFT guidelines and is nothing more than bullying and harassment tactics in an attempt to force me to increase my offer of payment. If this persists following receipt of my Income and Expenditure, I will lodge a formal complaint with the Financial Ombudsman Service.
I will continue to attempt to make a repayment each month, despite the fact that I was unable to retrieve any account details etc to allow me a method of payment. I am enclosing a payment of 20 in the form of a cheque, which is in my partners name. If you would like me to send this to an alternative address, please supply me with this by way of return post.
I have enclosed my Income and Expenditure again as I was advised the first copy was not received.
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