Extortion!

[SpiderUK]

I have been taken to court by Aktiv Kapital for a debt that I originally had with Egg PLC.

I asked the court how much had Aktiv Kapital paid for the debt as I believed that they were committing an illegal act in the form of Extortion.

I was told that they did not have to tell me how much they had paid for the debt.

My question is, at what rate does Extortion become eligible?

If Extortion is illegal, can they be sued?

As the proceedings went against me, this could severely impact mine and my families future!

Your comments are very much welcome, thank you

Spider

[miliitant]

Re: Extortion!

have you submitted a defence yet

have you had a judgement go against you

[SpiderUK]

Re: Extortion!

Hi

Yep, sadly the judgement went against me!

[miliitant]

Re: Extortion!

how long ago was the judgement

[bluebottle]

Re: Extortion!

Hi Spider,

Unfortunately, Extortion, also known as Blackmail, does not apply under these circumstances. To the best of my knowledge and belief, where a company has purchased a debt from another company, they are under no requirement to disclose what they paid for the debt. This practice is known as Debt Factoring and is perfectly legal. If, however, you have evidence that Aktiv Kapital mislead the court in any way, then you need to go back to court with a view to having the judgement set aside. It won't stop Aktiv Kapital from having another go, but it will put them on notice that they were found to have mislead the court and need to be careful if they don't want their claim struck-out altogether. Judges take a very serious view of claimants who mislead or attempt to mislead a court. A very serious view is taken of legal professionals who mislead or attempt to mislead a court, as this amounts to Serious Professional Misconduct under their Codes of Conduct.

[SpiderUK]

Re: Extortion!

Hi Militant, the judgement was 2 days ago (26th June).

Hi Bluebottle. Aktiv Kapital did not mislead the court as they had no obligation to reveal what they purchased the debt for!

Debt Factoring may be legal but if they only paid (for instance) 15p in the pound (I've heard that it can be as low as 8p in the pound), then surely it is quite immoral? Is there absolutely no recourse? surely morality figures in the law somewhere in these cases?

Cheers

BTW. Thanks for taking the time to reply and offer your view and knowledge!

[bluebottle]

Re: Extortion!

Take a look through the bundle of papers they should have had sent you prior to the hearing. Go through these and pick out anything that doesn't look right or you know is not correct or true. You still have 26 days out of 28 days in which to lodge an appeal against the judgement, unless the judge has ruled otherwise.

I agree with you to a point that Debt Factoring is immoral, but, unfortunately, that is how firms like Aktiv Kapital make their money and the law says that it is legal... at the moment.

[SpiderUK]

Re: Extortion!

Take a look through the bundle of papers they should have had sent you prior to the hearing. Go through these and pick out anything that doesn't look right or you know is not correct or true. You still have 26 days out of 28 days in which to lodge an appeal against the judgement, unless the judge has ruled otherwise.

I agree with you to a point that Debt Factoring is immoral, but, unfortunately, that is how firms like Aktiv Kapital make their money and the law says that it is legal... at the moment.

Thanks Bluebottle. I understand that Debt Collectors have to make a profit but what I object to is their profit margin. How can it be truly justified if they only pay 8p - 15p in the pound for the debt?

Definition of Extortion... 3. oppressive or illegal exaction, as of excessive price or interest: the extortions of usurers.

This surely has to be illegal? If not, at what price does it become illegal, 5p in the pound?

Cheers!

[bluebottle]

Re: Extortion!

Hi Spider,

I'm a retired policeman and I have dealt with individuals engaged in acts of extortion. Extortion in the sense I believe you are talking about is that involving excessive costs or profits. The sense in which I am talking about Extortion is when someone obtains money or property from another by use of menaces or threats. Please contact your local Law Centre about seeing one of the legal professionals there. The advice Law Centres provide is usually free. Take the bundle of court papers Aktiv Kapital sent you and let one of the Law Centre's legal professionals look through them, as they may spot something that could mean the CCJ can be set aside. If it is found Aktiv Kaptial or their legal representatives have mislead the court in some way, you may need to go back to court and ask the court to direct whether the CCJ should stand, be set aside or be quashed. You now have only 25 days in which to appeal. Please contact your local Law Centre as soon as possible.

[SpiderUK]

Re: Extortion!

Hi Bluebottle

Many thanks for your time and help, I will find my local law centre and see what they have to say, cheers!

[Nic]

Re: Extortion!

Sorry to barge in ur thread I'm currently being chased for by dca who are now saying there sending it to there solicitors. And as a last resort I'm thinking maybe I should make an offer say to pay half for example? Would they be likely to accept this or am I better to just keep ignoring for a minute? As this is only the second letter from them I've heard nothing for the previous 3 1/2 years about this any advice grateful

[CleverClogs]

Re: Extortion!

Sorry to barge in ur thread I'm currently being chased for by dca who are now saying there sending it to there solicitors. And as a last resort I'm thinking maybe I should make an offer say to pay half for example? Would they be likely to accept this or am I better to just keep ignoring for a minute? As this is only the second letter from them I've heard nothing for the previous 3 1/2 years about this any advice grateful

Never mind when you last heard anything about it before the latest money-grubbers contacted you, when did you last pay or make any written acknowledgement of that alleged debt?

[CleverClogs]

Re: Extortion!

I have been taken to court by Aktiv Kapital for a debt that I originally had with Egg PLC.

I asked the court how much had Aktiv Kapital paid for the debt as I believed that they were committing an illegal act in the form of Extortion.

I was told that they did not have to tell me how much they had paid for the debt.

Where did you get such terrible advice?

[Guest]

Re: Extortion!

Thanks Bluebottle. I understand that Debt Collectors have to make a profit but what I object to is their profit margin. How can it be truly justified if they only pay 8p - 15p in the pound for the debt?

Definition of Extortion... 3. oppressive or illegal exaction, as of excessive price or interest: the extortions of usurers.

This surely has to be illegal? If not, at what price does it become illegal, 5p in the pound?

Cheers!

Strangely i think that the creditor would also agree that it was immoral they where only getting 15p on the pound for the money they had loaned

D

[Nic]

Re: Extortion!

I can't remember exactly I think it must b nearly 4 years ago any kind of payment would've been made CLEVERCLOGS