Help with bank loan difficulties

[FlamingParrot]

Re: Help with bank loan difficulties

Hi all. Help please reply from CCA request don't understand. Says they do not have to provide credit agreement as part V of CCA in sec74 (1) (a) does not apply A notice of Assignment was sent to you on 27Feb2013 which is sufficient to justify ownership you have 14 days to settle Phone to discuss or account will be escalated
CAN SOMEONE PLEASE ADVISE

That would be because you sent a CCA request for an overdraft and Section 74 of the act exempts overdrafts from part V of the CCA. That's why I asked above what account you'd sent the CCA request for. Also said that, if the loan had been effectively been paid off by offsetting against a current account, then there was no duty to respond to a s.77 request sent for the loan.

The Notice of Assignment indicates they have purchased the debt and has nothing to do with any agreement between you and the original lender.

[charitynjw]

Re: Help re notice of assignment

http://www.legislation.gov.uk/ukpga/...20/section/136

Law of Property Act 1925


136


Legal assignments of things in action.

(1)

Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which express notice in writing has been given to the debtor, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice—

(a)

the legal right to such debt or thing in action;

(b)

all legal and other remedies for the same; and

(c)

the power to give a good discharge for the same without the concurrence of the assignor:
Provided that, if the debtor, trustee or other person liable in respect of such debt or thing in action has notice—

(a)

that the assignment is disputed by the assignor or any person claiming under him; or

(b)

of any other opposing or conflicting claims to such debt or thing in action;he may, if he thinks fit, either call upon the persons making claim thereto to interplead concerning the same, or pay the debt or other thing in action into court under the provisions of the M1Trustee Act, 1925.

(2)

This section does not affect the provisions of the M2Policies of Assurance Act, 1867.

[jon1965]

Re: Help with bank loan difficulties

Sorry to butt in, who are now saying that they own the debt?
It sounds very much like the letters that I kept getting from the wonderful Wets of Hull.
We played email ping pong for a while until I told them to go and get stuffed...all for 710.10

[Sweetcheeks]

Re: Help with bank loan difficulties

Hiya FLAMINGPARROT. Sorry for the confusion I had misread the dates the account was closed on 10th July 2009and not in 2000 like I said
I have just phoned Fredrickson and they have confirmed that they took over the account on 26th July 2009 and it was for a LOAN I thought that was right because I CCAd them in 2010 and got all the info back from them but with the wrong agreement.
I asked about the NoA because Cabots say they sent it on 27th FEB 2013 but I have NOT received this.and are implying that I cannot have another and just SETTLE UP

[FlamingParrot]

Re: Help re notice of assignment

Hi. can someone please tell me if a debt is sold who sends the NoA and should it be sent by recorded delivery. I have been informed by Cabot that it was sent on 27th Feb 13 WHICH I DID NOT RECEIVE and that's that Phone us to SETTLE within 14 days

The new owner should send it and no, they are not normally sent by recorded delivery. You are not going to phone them to settle within 14 days anyway, are you?

[Sweetcheeks]

Re: Help re notice of assignment

Hiya FlMing Parrot. Thanks for your reply, Can I ask for another copy of the NoA cos they say I can't have one.
NO I am NOT going to SETTLE anyway I don't have the money.
the ONLY LETTER I had from them dated 6th March 13 states that my existing payment arrangement will remain in place but now they seem to be reneging on this since I sent the CCA request

[Sweetcheeks]

Re: Help with bank loan difficulties

Hi John 1965 it's CABOT saying thy bought the debt

[jon1965]

Re: Help with bank loan difficulties

Its hard to keep up but I think Freds are owned by lowlife so by the sounds of it there may be two different debts or they think you have 2 different debts.
Can you explain exactly who is chasing which debt and what if any knowledge you have of that debt.

[charitynjw]

Re: Help re notice of assignment

Hi,

Strict Cabot to proof that it's been sent.

& don't forget proof of postage.

[Sweetcheeks]

Re: Help with bank loan difficulties

Hi John 1965 it is one debt a bank loan Fred's only collected for the bank. But now CABOT says they have bought it said to keep paying Fred's CCAd them again on 1July 13 retuned fee and file closed so sent CCA to CABOT and today they have returned fee and said I can't have the info cos it's a current account and a NoA had sent on 27th Feb 13 ( WHICH I DID NOT RECEIVE) and can't have another. I've been raving all day so phone bank they know about the dispute part logged on computer but can't find my letter asked me to write in again ASAP and they will try to resolve the matter as quickly as possible as I now may have a claim for redress and it would be best to sort this out between ourselves before going to FOS.
So am I right in thinking Cabot can't demand SETTLEMENT while this is going on or what

[Sweetcheeks]

Re: Help re notice of assignment

Hi. Will do that first thing. Is there a template for that or will I just say prove it was sent?

[charitynjw]

Re: Help re notice of assignment

http://www.legalbeagles.info/forums/...ing-with-DCA-s

Post #4

[Sweetcheeks]

Re: Help re notice of assignment

Hi CHARITYNJW. Thanks for that

[Guest]

Re: Help re notice of assignment

I think that either party can send the notice of assignment FP

[labman]

Re: Help re notice of assignment

Yes, that's my understanding also. It is not uncommon for the 'Goodbye' and 'Hello' letters to be sent together nowadays.

It is important you make them prove absolutely everything and make sure they've dotted all the i's and crossed all the t's. Cabot are only a DCA, so unless it has been assigned in absolute, they have pretty much no power to demand anything.

Who is the original creditor? What was the debt for? etc..... If you can give us a fuller history, we can help you more.