Assignment of terminated agreement

[Lord_Alcohol]

Anyone know what the position is where a terminated agreement is assigned to another bank, who then reinstates it?

I had a credit card agreement that was contractually terminated and a dispute raged over the balance, which should have been reduced in compensation according to the T&Cs.

The agreement was then assigned to a completey different bank. I received NOA, indicating an absolute assignment.

The new bank then thought it might be profitable to reinstate it and claim the contractual interest, and did so. I refused to pay and the agreement has now been re-terminated, this time with a default status.

I am preparing POC but it would help to understand if I can use a bad assignment to assist my claim. For example, should there have been a NOA that specified an equitable assignment rather than absolute? And should the assignee bank actually be the 'creditor' if the assignment is not absolute.

This is new territory for me so any help would be much appreciated.

TIA
LA

[dad]

Re: Assignment of terminated agreement

LA,

Subject to the exact provisions of the credit card agreement and how the termination was actually done:

My view is that when the credit card agreement was terminated the the debt converted into a claim for damages for the amount due, if any, under the agreement. What was actually assigned, again if done properly, was the claim in damages.

In any event I doubt it is possible to recreate contractual relationships without the consent of both parties, and I assume that you have not given your consent.

The devil is in the detail and you need proper advice based on all the documents.

HTH

Dad