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I've copied and pasted this directly from a site called CCK (Credit Card Killer). Does anyone know anything about them? Is what they state as the facts true? OR are they just after our money?
The Facts:
The word ‘debtor’ is defined in the Consumer Credit Act 1974 (CCA) section 189 as:
“debtor” means the individual receiving credit under a consumer credit agreement or the person to whom his rights and duties under the agreement have passed by assignment or operation of law, …
Debt purchase was defined by the OFT in their guidelines in relation to lenders and debt collectors.
The Consumer Credit Act 1974 allows the trade in a debtors obligations’:
Section 145(5)(b) taking over, in return for payments by the debtor or hirer, his obligation to discharge a debt.
Consent from the lender is not required.
Lender cannot sell their obligation without your consent “Did you know that?”
Once you are out of the contract Novation does not apply.
Credit Reference Agencies are only allowed to record the conduct of a live agreement on your Credit File. No contract, no consent, no default or missed payments should be registered.
Help you stop the phone calls from lenders and debt collectors with callkiller.net & http://www.callkiller.co.uk.
Any agreement which contains an anti-assignment clause breaches section 173 of the Act as it seeks to unlawfully restrict a right given by the Act.
One lenders new terms and conditions state
16.4 We may transfer our rights and/or responsibilities under this agreement to any person if:
• that other person is authorised by the Office of Fair Trading to undertake regulated consumer credit business and writes to you and undertakes to carry out all our duties and obligations under this agreement.
If it does so, you agree that we will be released from all those duties and obligations
• we reasonably believe such person is capable of performing our responsibilities.
No such transfer will affect any rights you have under this agreement.
You may not transfer any of your rights or responsibilities under this agreement to any person.
As this does not seek your agreement or consent it cannot be added to the agreement by way of variation under section 82 but must be part of the signed agreement.
This is a partly valid clause as it seeks consent and agreement from the consumer, the other clause prohibiting the transfer of rights by the consumer is invalid as a lender does not have the right to restrict consumers rights under the CCA. The clause should seek agreement of what will not be done and state the consequences of trying to do it.
Of course this only matters while the agreement is active, after termination this does not apply.
CCK does not assign rights under the agreement, we purchase rights and benefits after termination that are available before the agreement is enforced. Our assignment takes place under our agreement which is the way lender and debt collectors do it.
HM Revenue & Customs (HMRC) define debt as:
“A debt exists where one party has a legal obligation to transfer cash, goods or services to another. If the creditor has no legal right to the consideration, there is no debt.”
In simple terms as a lender has no right to enforce without a court order there is no legal debt, just the lenders right to seek enforcement. Are the drones on Scam.com going to disagree with HMRC and the House of Lords?
Lenders, Regulators and Judges will have to accept what is happening as they are going to look very silly in the future, history dictates that change will come and those that stand in its way will fall.
Darwin understood the capacity to change is the key to survival and those that stick to their rigid and archaic ways will perish.
No one is greater than the law and to put your views and opinions above the rights of others and obstruct justice is criminal and time will ensure all who play a part in these criminal activities are held to account. Lenders and their lies grow more transparent by the day as more consumers understand what rights they have and have been denied by the judicial system.
Remember not all lenders are the same and many, yes many, do stand by what is right and that is what makes us so successful. The system used by lenders of putting a bounty on the head of every defaulted account and allowing the bounty hunters like Optima Legal who are proud of the fact that they prey on lone debtors every day for percentage reward. These bounty hunters are the biggest threat to financial democracy as they create fear and the disenfranchised; they accelerate the need for change by their despicable conduct and those who turn a blind eye to their conduct on the false premise that debtors deserve what they get.
The Facts:
The word ‘debtor’ is defined in the Consumer Credit Act 1974 (CCA) section 189 as:
“debtor” means the individual receiving credit under a consumer credit agreement or the person to whom his rights and duties under the agreement have passed by assignment or operation of law, …
Debt purchase was defined by the OFT in their guidelines in relation to lenders and debt collectors.
The Consumer Credit Act 1974 allows the trade in a debtors obligations’:
Section 145(5)(b) taking over, in return for payments by the debtor or hirer, his obligation to discharge a debt.
Consent from the lender is not required.
Lender cannot sell their obligation without your consent “Did you know that?”
Once you are out of the contract Novation does not apply.
Credit Reference Agencies are only allowed to record the conduct of a live agreement on your Credit File. No contract, no consent, no default or missed payments should be registered.
Help you stop the phone calls from lenders and debt collectors with callkiller.net & http://www.callkiller.co.uk.
Any agreement which contains an anti-assignment clause breaches section 173 of the Act as it seeks to unlawfully restrict a right given by the Act.
One lenders new terms and conditions state
16.4 We may transfer our rights and/or responsibilities under this agreement to any person if:
• that other person is authorised by the Office of Fair Trading to undertake regulated consumer credit business and writes to you and undertakes to carry out all our duties and obligations under this agreement.
If it does so, you agree that we will be released from all those duties and obligations
• we reasonably believe such person is capable of performing our responsibilities.
No such transfer will affect any rights you have under this agreement.
You may not transfer any of your rights or responsibilities under this agreement to any person.
As this does not seek your agreement or consent it cannot be added to the agreement by way of variation under section 82 but must be part of the signed agreement.
This is a partly valid clause as it seeks consent and agreement from the consumer, the other clause prohibiting the transfer of rights by the consumer is invalid as a lender does not have the right to restrict consumers rights under the CCA. The clause should seek agreement of what will not be done and state the consequences of trying to do it.
Of course this only matters while the agreement is active, after termination this does not apply.
CCK does not assign rights under the agreement, we purchase rights and benefits after termination that are available before the agreement is enforced. Our assignment takes place under our agreement which is the way lender and debt collectors do it.
HM Revenue & Customs (HMRC) define debt as:
“A debt exists where one party has a legal obligation to transfer cash, goods or services to another. If the creditor has no legal right to the consideration, there is no debt.”
In simple terms as a lender has no right to enforce without a court order there is no legal debt, just the lenders right to seek enforcement. Are the drones on Scam.com going to disagree with HMRC and the House of Lords?
Lenders, Regulators and Judges will have to accept what is happening as they are going to look very silly in the future, history dictates that change will come and those that stand in its way will fall.
Darwin understood the capacity to change is the key to survival and those that stick to their rigid and archaic ways will perish.
No one is greater than the law and to put your views and opinions above the rights of others and obstruct justice is criminal and time will ensure all who play a part in these criminal activities are held to account. Lenders and their lies grow more transparent by the day as more consumers understand what rights they have and have been denied by the judicial system.
Remember not all lenders are the same and many, yes many, do stand by what is right and that is what makes us so successful. The system used by lenders of putting a bounty on the head of every defaulted account and allowing the bounty hunters like Optima Legal who are proud of the fact that they prey on lone debtors every day for percentage reward. These bounty hunters are the biggest threat to financial democracy as they create fear and the disenfranchised; they accelerate the need for change by their despicable conduct and those who turn a blind eye to their conduct on the false premise that debtors deserve what they get.
More trouble for CMCs - debt buyers threatened with prosecution - Legal Beagles Consumer Forum
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