Strategy for beating old Over Draft Debt

[Diana M]

Re: Strategy for beating old Over Draft Debt

Do you know anything about the legal requirements around deed and notice of assignments?

Yes I do

But that's not something I could post on a public forum otherwise that would enable the creditors and debt purchasers to remedy things if they saw it (they read the forums).

There are hundreds of creditors with different wording in their Deeds of Assignment. We have a library of them but it's not for sharing. It takes years to build up a knowledge bank.

Di

[charitynjw]

Re: Strategy for beating old Over Draft Debt

i have read this section and i have seen other cases where this has been used. it seems like a hard way to win a case in court.
If it was easy, everybody would be doing it.

Do you know anything about the legal requirements around deed and notice of assignments?
NoA - s136 Law of Property Act 1925
Deed of Assignment - conflicting opinions on this; to my mind, it's a tricky one to offer as a challenge/defence, but there does seem to be some success with it. I can't/won't say more than that.

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[pandamonia]

Re: Strategy for beating old Over Draft Debt

Yes I do

But that's not something I could post on a public forum otherwise that would enable the creditors and debt purchasers to remedy things if they saw it (they read the forums).

There are hundreds of creditors with different wording in their Deeds of Assignment. We have a library of them but it's not for sharing. It takes years to build up a knowledge bank.

Di

I was more interested in any legislation around what they have to do. I know that they have to send a notice of assignment to the debtor. Is there anything else?

Im not looking for any trade secrets

[charitynjw]

Re: Strategy for beating old Over Draft Debt

Im not looking for any trade secrets

You might not be.
Unfortunately, other viewers might be hoping for exactly that result.

[pandamonia]

Re: Strategy for beating old Over Draft Debt

You might not be.
Unfortunately, other viewers might be hoping for exactly that result.

The issue is that unless people have the confidence to fight these people then to many people roll over and pay up. Which then creates the very problem we have with these companies. Its taken me a long time to find out that these cowboys have to follow the exact rules of the CCA in order to collect in court. For example i didnt know that if a letter was posted on the 1/1/2016 with 14 days to respond to the default notice from that date then technically that debt unenforceable because by the time the letter arrives on your door step via the post you no longer have 14 days and are in breach of s88.

A debt collection company has no power in order to change what happened 6 years ago though does it not? They are handed a deck of cards and can only play the hand they are given unless they use dishonest means to achieve their goal...

[charitynjw]

Re: Strategy for beating old Over Draft Debt

I was more interested in any legislation around what they have to do. I know that they have to send a notice of assignment to the debtor. Is there anything else?

It has to be served (ie brought to your attention - but see the Interpretation Act re post).
There is no formal documentation (Compare with a Default Notice, s87 CCA).
All that the notification has to inform the mortgagor is that the debt has been sold by A & bought by B.
Dates & amounts are not necessary in the notice for the assignment to be absolute.

[pandamonia]

Re: Strategy for beating old Over Draft Debt

Im guessing where they fall over is when they fake the notice/deed and try and pass it off as honest and accurate. If you have a library of these from other claims then you will see if its real or just made up.

[Diana M]

Re: Strategy for beating old Over Draft Debt

Im guessing where they fall over is when they fake the notice/deed and try and pass it off as honest and accurate. If you have a library of these from other claims then you will see if its real or just made up.

If only it was as simple as that.

The way you describe it there could be software developed to 'compare notes' with documents but it can't.

Deeds are generic whilst a Defendant's situation is unique.

As I said earlier, there's no substitute for knowledge gathered over a period of time through hands on experience. That's the essence of the "trade secrets" to which you refered

Di

[charitynjw]

Re: Strategy for beating old Over Draft Debt

It often seems to me that the court process is a bit like stud poker.

Even if you have a reasonable 'hand', if you are unlucky with the 'judge's lottery', or you are not completely sure of your legal arguments, at the hearing you might find that you are holding aces & eights.

[pandamonia]

Re: Strategy for beating old Over Draft Debt

It often seems to me that the court process is a bit like stud poker.

Even if you have a reasonable 'hand', if you are unlucky with the 'judge's lottery', or you are not completely sure of your legal arguments, at the hearing you might find that you are holding aces & eights.

Yes there is problem in all courts it seems. I have witnessed this also in employment tribunals. The Pro business slant on these courts and government in general is disgraceful. Im betting lots of county court judges are pro bank too. Although my brother had one set aside and the judge threw out the CCJ within 60 days as the claimant didnt respond to the action.

[charitynjw]

Re: Strategy for beating old Over Draft Debt

. Although my brother had one set aside and the judge threw out the CCJ within 60 days as the claimant didnt respond to the action.

This in itself says a lot, if the Claimant was a debt purchaser.

[pandamonia]

Re: Strategy for beating old Over Draft Debt

This in itself says a lot, if the Claimant was a debt purchaser.

is this a normal time frame or to long/short?

[Debt Camel]

Re: Strategy for beating old Over Draft Debt

Back to the question of defending an overdraft claim in general:

Do you agree with the amount that is alleged?

Was your overdraft limit increased without you asking for this? What was your credit record like at the time? Would the account have shown significant payments to other debts? Were you getting hit by bank charges for failed direct debts?

[pandamonia]

Re: Strategy for beating old Over Draft Debt

Back to the question of defending an overdraft claim in general:

Do you agree with the amount that is alleged?

Was your overdraft limit increased without you asking for this? What was your credit record like at the time? Would the account have shown significant payments to other debts? Were you getting hit by bank charges for failed direct debts?

At the time i opened new accounts to transfer payments and overdraft to Santander. Halifax never closed the old credit limit down. when i moved the overdraft from Santander to a credit card then they didnt close any of those credit limits down. This is how i ended up with 55,000 worth of unsecured credit limit.

Also no the total debt is wrong they have increased it by 50% since buying the debt claiming 8% interest which is not legal as its a regulated debt.

For example Credit file says £ 6600 current balance of debt!

Opening balance
£ 4,300

Repayment frequency
Monthly

Date of default
01/07/2011

Default balance
£ 4,300

[Debt Camel]

Re: Strategy for beating old Over Draft Debt

At the time i opened new accounts to transfer payments and overdraft to Santander. Halifax never closed the old credit limit down. when i moved the overdraft from Santander to a credit card then they didnt close any of those credit limits down.

Did you ask them to close the accounts or reduce the overdraft limit?

the total debt is wrong they have increased it by 50% since buying the debt claiming 8% interest which is not legal as its a regulated debt.

what do you mean by "regulated debt" and why do you think in the case of the overdraft interest can't be charged after a sale - do you have copies of the T&Cs?