WA Credit Corp Chasing Me for Debt?

[Nattyh123]

Hi experts,

So my husband was forced into bankruptcy owing around $7M. Most of it was for business loans and HP financing for equipment but there was also a personal? (~ $500K ) loan for a car. I'm pretty sure all debts stopped being serviced around May/June 2013, even though bankruptcy was not forced until November 2015.

In the mean time - around 6 months ago - I started getting random phone calls and then a letter in the mail from Credit Corp demanding I make arrangements to repay a debt I have with them. They have purchased a part of my husband's debt from Macquarie Bank so I know it is it is for the car but I don't know how much it is. Anyway, I have never ever signed anything to do with the loan for the can and have never had any loan or credit card or any financial dealings with Mcquarie. So...

Are they just trying it on chasing me or could there be some legal loophole that means they are entitled to require me to service this debt? I am beyond horrified as we have already lost everything and I now have a modest house in my name which I cant lose!.

Any help would be greatly appreciated. Thank you

 

[Rob Legat - SBPL]

There's no way to tell from the information provided. When they contact you, politely inform them that you dispute the debt and have no knowledge of the credit account which they are calling about. Until they can substantiate the debt, they should not contact you further except in relation to establishing the correctness of the account. Request copies of the credit contracts, applications and (if consumer credit and entered into after 1 April, 2010) the credit assessments undertaken by the lender.

If they make contact to seek payment without verifying the account, report them to the ACCC and ASIC. Credit Corp are also members of the Credit and Investments Ombudsman Scheme, but your mileage may vary there since one of the board members of the Scheme is the CEO of Credit Corp. While this shouldn't affect things, I have heard that it does.

 

[Nattyh123]

There's no way to tell from the information provided. When they contact you, politely inform them that you dispute the debt and have no knowledge of the credit account which they are calling about. Until they can substantiate the debt, they should not contact you further except in relation to establishing the correctness of the account. Request copies of the credit contracts, applications and (if consumer credit and entered into after 1 April, 2010) the credit assessments undertaken by the lender.

If they make contact to seek payment without verifying the account, report them to the ACCC and ASIC. Credit Corp are also members of the Credit and Investments Ombudsman Scheme, but your mileage may vary there since one of the board members of the Scheme is the CEO of Credit Corp. While this shouldn't affect things, I have heard that it does.

Thanks Rob. Earlier on I did attempt to get more information out of them to try and verify what debt they were talking about but they refused unless I provided more information about myself - which I refused to do as I am convinced they will somehow use this information to try and prove the debt is mine when I know it isn't.

They usually ring me and leave a message every month or so. And according to my records this has been going on for over a year - longer than I first thought.

If they thought their claim was legitimate, wouldn't they have escalated this matter via the courts long ago?

 

[Rob Legat - SBPL]

Not necessarily. There could be a number of reasons why they haven't done so.

 

[Nattyh123]

Not necessarily. There could be a number of reasons why they haven't done so.

Oh