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Hi all. I have a second charge mortgage with ADV2 and have very recently - as out of the blue - received a Notice of Assignment stating the following:-
"Morgan Stanley Bank International Limited which traded as Advantage and ADV2 assigned all of its respective rights, title and interest in respect of the amounts due under the above referenced mortgage account (including the right to receive payment of the outstanding balance and, where applicable, future right, title and benefit) to Arrow Receivables Management Limited".
Anyone else in my position? I have tried to google Arrow Global and they seem to be just a DCA? If that is the case does that mean that the rest of the money collected will be taken off the balance interest free, as I think DCA's are not allowed to charge interest?
Interestingly although the company name has changed the address remains the same:tinysmile_hmm_t2:
"Morgan Stanley Bank International Limited which traded as Advantage and ADV2 assigned all of its respective rights, title and interest in respect of the amounts due under the above referenced mortgage account (including the right to receive payment of the outstanding balance and, where applicable, future right, title and benefit) to Arrow Receivables Management Limited".
Anyone else in my position? I have tried to google Arrow Global and they seem to be just a DCA? If that is the case does that mean that the rest of the money collected will be taken off the balance interest free, as I think DCA's are not allowed to charge interest?
Interestingly although the company name has changed the address remains the same:tinysmile_hmm_t2:
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