Recommendation - 3 April 2018

Key Issues: 

Debt collector | Default listing | Credit reporting | Serious credit infringement | Personal loan

Case summary

Summary of recommendation

The consumer claims that: 

(a)      the FSP is not entitled to collect the debt as it has not provided him with:

(i)       his initialled ABC Bank credit contract,

(ii)      the applicable contract terms and conditions,

(iii)     the complete ABC Bank account statements, and

(iv)     a notice of assignment,

(b)      ABC Bank took funds from his savings account to pay the debt without his consent, 

(c)       the loan insurance should have repaid the debt, 

(d)      the debt is statute barred, 

(e)      the FSP is pursuing him for the incorrect debt amount,  

(f)       the FSP harassed and threatened him in its collection conduct,  

(g)      the default listing is incorrectly recorded on his credit file, and 

(h)      the FSP has accessed his credit file excessively.


To resolve this complaint, the consumer wants:

(a)    the default listing removed, 

(b)    a refund of all payments ABC Bank took from his account, and 

(c)    the debt waived.

Based on the available information, we find that:

(a)    the debt is statute barred, and

(b)    the consumer’s remaining claims are not made out.

We recommend that the FSP cease collection of the remaining debt.

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  Recommendation |  3 April 2018