Extortion!

[CleverClogs]

Re: Extortion!

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

That, however, is their choice - nobody has forced them to lose 85% of that alleged asset.

[Guest]

Re: Extortion!

That, however, is their choice - nobody has forced them to lose 85% of that alleged asset.

I suppose it was better than nothing, I am not a lover of DCA's but they are doing business the way they have always done. Buying something and then selling it at a profit is not extortion unfortunately.

Personally i think this is a case of fiscal karma.

D

[SpiderUK]

Re: Extortion!

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

I think you probably need to read this... http://ancientbankingsecret.com + http://ancientbankingsecret.com/more.htm

There has been no actual loss to the original creditor!

[CleverClogs]

Re: Extortion!

There has been no actual loss to the original creditor!

Because the "bad debt" has been written off against tax?

[Guest]

Re: Extortion!

If you feel anything has been extortionate - other than DCA profit - you should say so in pleadings.
Extortionate credit bargains are covered by the Consumer Credit Act 2006. They applied to new agreements from 6 April 2007, and to pre-existing agreements from 6 April 2008.
Before that, the Consumer Credit Act 1974 applies (though this link now takes us back to 2006 Act).

[SpiderUK]

Re: Extortion!

Because the "bad debt" has been written off against tax?

No, because they created money out of thin air just by using my signature! People need to be educated about what's going on!

When you first find out the truth it's a bit hard to digest but as you read more about it, you get a bit angry and then you want to get even (in a clever peaceful way of course!).

[Guest]

Re: Extortion!

No, because they created money out of thin air just by using my signature! People need to be educated about what's going on!

When you first find out the truth it's a bit hard to digest but as you read more about it, you get a bit angry and then you want to get even (in a clever peaceful way of course!).

Recent documents received from Welcome revealed they forged my signature twice and I haven't finished going thru the papers.
Forgery - offences under which Acts

Forgery and Counterfeiting Act 1981
S1, 2, 3, 4 - making false instrument, using it, copying it, using a copy of a false instruments
Meaning of false instrument - "any document, whether of a formal or informal character" [s8 1(a)]...(which results in)...
"being deprived of an opportunity to gain a financial advantage otherwise than by way of remuneration" [s10 1 (a) (iii)]
Penalties - fine, imprisonment [s6]

[Worried Mum]

Re: Extortion!

I can't help with with the rest, but i've just settled my debt with aktiv kapital for about 30% and I had a CCJ and they were in the process of putting a charge on my house. Have you tried talking to the call center?? the fella I spoke to was really helpful, remember to be nice and be polite, that doesn't mean sucking up to them, but if you are an arse to them remember they are the ones who control what is accepted. good luck with it all.

[SpiderUK]

Re: Extortion!

I can't help with with the rest, but i've just settled my debt with aktiv kapital for about 30% and I had a CCJ and they were in the process of putting a charge on my house. Have you tried talking to the call center?? the fella I spoke to was really helpful, remember to be nice and be polite, that doesn't mean sucking up to them, but if you are an arse to them remember they are the ones who control what is accepted. good luck with it all.

Hi, thank you for your response. Unfortunately, I do not have the capital to pay even a third at this time. Ironically, if I had my PPI returned from Capital One, then I might have. However, that case is in the hands of the Ombudsman. Unfortunately, they tell me that could take a year to come to fruition as they have 42,000 cases in their books at the moment and a regular 2000 a week coming in! D'oh!

They also want me to sign a form of voluntary charge on my house or they will take it back to court. The problem is, the house is in mine and my wife's name. She is no party to this debt will not sign the form.

I have offered them a repayment plan which they have accepted for one year to be reviewed after that.

I'm seeking advice from the CAB but AK have only given me a few days to respond. I have a feeling they are using bully boy tactics and I'm not going to be intimidated! I will keep the dialogue going and keep you all informed!

Many thanks for your help.

[bluebottle]

Re: Extortion!

Recent documents received from Welcome revealed they forged my signature twice and I haven't finished going thru the papers.
Forgery - offences under which Acts

Forgery and Counterfeiting Act 1981
S1, 2, 3, 4 - making false instrument, using it, copying it, using a copy of a false instruments
Meaning of false instrument - "any document, whether of a formal or informal character" [s8 1(a)]...(which results in)...
"being deprived of an opportunity to gain a financial advantage otherwise than by way of remuneration" [s10 1 (a) (iii)]
Penalties - fine, imprisonment [s6]

Forgery is a serious matter and taken very seriously. Once you have been through the papers completely, contact the Economic Crime Unit of your local police force.

[bluebottle]

Re: Extortion!

Hi, thank you for your response. Unfortunately, I do not have the capital to pay even a third at this time. Ironically, if I had my PPI returned from Capital One, then I might have. However, that case is in the hands of the Ombudsman. Unfortunately, they tell me that could take a year to come to fruition as they have 42,000 cases in their books at the moment and a regular 2000 a week coming in! D'oh!

They also want me to sign a form of voluntary charge on my house or they will take it back to court. The problem is, the house is in mine and my wife's name. She is no party to this debt will not sign the form.

I have offered them a repayment plan which they have accepted for one year to be reviewed after that.

I'm seeking advice from the CAB but AK have only given me a few days to respond. I have a feeling they are using bully boy tactics and I'm not going to be intimidated! I will keep the dialogue going and keep you all informed!

Many thanks for your help.

If Aktiv Kapital are not playing ball, in the legal sense, kick them in the gonads, in the legal sense. Check with a legal professional at your local Law Centre as to how much time they are legally required to allow you to respond. You can also make a complaint against them to the OFT's Credit Fitness Team at enquiries@oft.gsi.gov.uk, inserting the words CREDIT FITNESS in the subject box. You will need to quote their company registration no. 04267803 and consumer credit licence no. 0510166. Give a clear and concise resume of your complaint.

[Guest]

Re: Extortion!

I think you probably need to read this... http://ancientbankingsecret.com + http://ancientbankingsecret.com/more.htm

There has been no actual loss to the original creditor!

Thanks i hadn't read this but i have read similar theories over the years, its a simplistic representation based on the idea that the world economy is dependent on strong box somewhere full of gold, and every note that is issued reserves a piece of that stash to the owner of the note.

Banking and world economy hasn't worked that way for a long time. Don't get me wrong banks(and bankers) can be robbing bstds, but on the whole they are just very good at playing a system that we all subscribe to.

D