Assignment of Debt

[pt2537]

Re: Assignment of Debt

Basically my argument is that the original creditors have never informed me that they sold the debts on to two dcas.

All I have is the DCAs word that they have a legal right to be chasing me and we all know what a DCAs word is worth

then you fall on the words of Denning in Van pelias construction

where he said the debtor is entitled to view the sale agreement to ensure that the assignee can give him good discharge under the contract.

[ODC]

Re: Assignment of Debt

That will really confuse the Leeds Losers.

I was just going to rely on S136 of the Law of Property Act 1925

[shamen]

Re: Assignment of Debt

Interesting reading.
(removed by request)

[pt2537]

Re: Assignment of Debt

Interesting reading (removed by request)

AHHH,

"I dont think there is a CCA" is different from "i didnt sign an agreement"

dont confuse the two

Secondly, it would be reasonable for them to serve notice by registered post at your last known address, unless you specifically told them you were moving overseas,

So the assignment may well be effective as a legal assignment

If you never signed an agreement then you have a defence, however, if there was an agreement then that is a matter of evidence for the creditor to show what procedures were in place ,and to show through evidence that there was a signed agreement, for example by using computer records to show the agreement was processed etc

[Fugu]

Re: Assignment of Debt

If you never signed an agreement then you have a defence, however, if there was an agreement then that is a matter of evidence for the creditor to show what procedures were in place ,and to show through evidence that there was a signed agreement, for example by using computer records to show the agreement was processed etc

Hi Pt,

Out of interest, what would your take be on a high street bank presenting a post-dated agreement (it aint my handwriting either) when responding to CCA request, swiftly followed by numerous offers of goodwill when concern raised.

Is there legislation in place to divert from The FA 2006 procedures and request jurisdiction of police rather than banks own fraud 'investigation'.

Fugu

[shamen]

Re: Assignment of Debt

AHHH,

"I dont think there is a CCA" is different from "i didnt sign an agreement"

dont confuse the two

Good point. The only things I could think they are down to is barclays. If they are not, then they certainly are not mine. The amounts outstanding on the report as far more (read at least double) what the loan amounts were. It was all done online in 2004, tickboxes and such through offers on this online banking thing i had at the time - no paperwork signed for sure. What makes me think these may not be mine is that even to this day people from one I used to live at are applying for credit in my name. Latest search hit was three weeks ago for british gas to take out new utilities at that address. Ive not lived there since february 2005. Ive got experian and callcredit looking into the british gas thing, and several other defaults and bad references have already been removed from my file. So as you can see, it *could* be mine. It may not be. Im just not sure. Even if it is mine, I was trying to find out if sending a letter to my old address counts as 'served' which you imply it does.

Secondly, it would be reasonable for them to serve notice by registered post at your last known address, unless you specifically told them you were moving overseas,

I had specifically sent barclays a letter (i still have a copy) stating I was moving overseas. I gave the new address and also requested the correct IBAN routing to send payments, but never heard a word back. I should have chased, but did not. Never expected to come home. It was not sent recorded delivery, but my computer hard disk has the date of the letter recorded rfom january 2005.

So the assignment may well be effective as a legal assignment
If you never signed an agreement then you have a defence, however, if there was an agreement then that is a matter of evidence for the creditor to show what procedures were in place ,and to show through evidence that there was a signed agreement, for example by using computer records to show the agreement was processed etc

As far as I know, as the credit was taken out before 2006 they need to have a signed CCA? It wasnt until after a certain date that a tickbox online became good enough to be a enforceable agreement?

[Algee]

Re: Assignment of Debt

Does a faulty Default Notice from the original creditor invalidate an assignment?

Alan

[Angry Cat]

Re: Assignment of Debt

Does a faulty Default Notice from the original creditor invalidate an assignment?

Alan

An ineffective DN, is a totally different matter to that of assignment of debt.

[Algee]

Re: Assignment of Debt

Hi AC

I understand that but, if the default notice is invalid (for whatever reason), and subsequently terminated, what state is the assignment in?

Alan

[Angry Cat]

Re: Assignment of Debt

Hi AC

I understand that but, if the default notice is invalid (for whatever reason), and subsequently terminated, what state is the assignment in?

Alan

Many members, have had their agreements terminated on the back of ineffective DN's.
Furthermore, many were also securitized, prior to being charged off.

Matters relating to both securitized debt and legal assignments will continue to be a, bone of contention...

If an agreement has been terminated on the back of an ineffective DN, the result will be that they can only pursue the arrears.

[ODC]

Re: Assignment of Debt

I think we are getting a little sidetracked here.

Its my belief that for a debt to be legally assigned that the owner of the debt must formally inform the debtor rather than just a hello letter from a DCA.

Am I being too simplistic in refusing to acknowledge any letter from a DCA who claims to own the debt until I receive notice from the Original Creditor in accordance with s136 of the Law of Property Act 1925

[TomThumb]

Re: Assignment of Debt

I think we are getting a little sidetracked here.

Its my belief that for a debt to be legally assigned that the owner of the debt must formally inform the debtor rather than just a hello letter from a DCA.

Am I being too simplistic in refusing to acknowledge any letter from a DCA who claims to own the debt until I receive notice from the Original Creditor in accordance with s136 of the Law of Property Act 1925

AFAIR The act states you are to be informed in writing... not by who... and they will need to prove that you have been notified to be "effectual".

Thus if it wasnt sent recorded then they will have to rely on you admitting you have it as far as I can see.

S.

[ODC]

Re: Assignment of Debt

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—


Surely this means it must come from the Original Creditor

[TomThumb]

Re: Assignment of Debt

Hmm yes I can see where your coming from now... however I've noted this down with a warning in my reference files for some reason....

Van Lynn Developments Ltd v Pelias Construction Co Ltd [1969]

S.

[ODC]

Re: Assignment of Debt

I think th Van Lynn rference applies to


and need not be written with the intention that it should perform the function of giving notice