Debt Collection Agencies/Refunds

[jax50]

Re: Debt Collection Agencies/Refunds

Also, as someone said to me...an OC providing financial information to a fully assigned DCA doesn't get more 'personal' for the alleged debtor does it, so to say the DPA is not being breached in providing this info seems a bit of a dodgy statement to make. Is it possible to ask the DP 'people' direct questions like this ?

[di30]

Re: Debt Collection Agencies/Refunds

Great thread Di - I've never quite grasped this 'assignment' thing, so I'm following it.

AG - you should be able to reclaim mis-sold PPI on all those accounts. The account does not have to be an 'active' or open account. With regard to the defaulted credit cards, it may even be possible to show that the cards would not have been defaulted if the PPI had not been mis-sold. In many cases, it can be shown that penalty charges would not have been debited, and these can often be reclaimed as well.

Thank you Bill.
It's something different lol.

And because of customers not knowing who should be entitled to the refund if successful. (if there is debt/arrears) within a Debt collections agency.

As we all know - any refund will usually be forwarded to a collections agency if they work alongside a bank/business, but it the debt's sold on, it's been an issue of who the refund should be paid to.

So, now looking into this a little further.
Across the sites, it appears that refunds (where there is debt/arrears) within a DCA are being used towards that actual debt, but others - they have received their refunds direct.

It could be the fact that, if the debt was sold on, but as an "equitable assignment" which means the DCA has a right to collect the debt, but work alongside the bank/business.

Or
An "Absolute Assignment", so the old Creditor (OC) no longer has any part of the account, and the DCA owns the full rights of the account.
(In this case, the customer may receive the refund).

[jax50]

Re: Debt Collection Agencies/Refunds

That is what came to my mind Jax, as it seems they are confirming that everything is now with them, even though you can still make a compaint to the OC (Original creditor) for being liable, for example the mis selling of PPI etc....

There's a sort of logic to that, but that doesn't always mean much in this seedy world does it ? I think even if the OC has sold absolute it doesn't make them exempt from retrospectively being taken to account. and whatsmore, tackling an OC for PPI for example doesn't affect the relationship a debtor might have with the DCA.... The DCA may never know , and why should they, so even an UE situation may not be jeopordised by a claim on the OC if the DCA is dealing with the UE themselves... The exchange of personal information between the OC and the DCA would surely be forbidden under DPA. ?

[di30]

Re: Debt Collection Agencies/Refunds

does the fact that a DCA becomes the' data controller' confirm then that they assigment is absolute ?

That is what came to my mind Jax, as it seems they are confirming that everything is now with them, even though you can still make a compaint to the OC (Original creditor) for being liable, for example the mis selling of PPI etc....

[Bill-K]

Re: Debt Collection Agencies/Refunds

Great thread Di - I've never quite grasped this 'assignment' thing, so I'm following it.

AG - you should be able to reclaim mis-sold PPI on all those accounts. The account does not have to be an 'active' or open account. With regard to the defaulted credit cards, it may even be possible to show that the cards would not have been defaulted if the PPI had not been mis-sold. In many cases, it can be shown that penalty charges would not have been debited, and these can often be reclaimed as well.

[andyglover63]

Re: Debt Collection Agencies/Refunds

Hi

Is it possible to reclaim PPI on a motgage which was paid off, a business loan again paid off and 2 credit cards, both went into default in 1987, the mortgage and business loan was paid up in Feb 2001.

Thanks

AG

[jax50]

Re: Debt Collection Agencies/Refunds

does the fact that a DCA becomes the' data controller' confirm then that they assigment is absolute ?

[di30]

Re: Debt Collection Agencies/Refunds

I am not sure if (family friend) have requested for his copies of CCA from the DCA, now that they confirm on the letter that under the terms of this assignment, and as defined in the Data Protection Act 1998, Cabot is now the Data Controller of the personal data contained in the records of this account. I think he should and see what they come back with.

I do know he is forwarding payments by standing order to Cabot now on a monthly basis, as the account was also confirmed sold as from 3rd Sept 2012, he has been paying every month to them since then.

[jax50]

Re: Debt Collection Agencies/Refunds

That would sound more 'unplanned', wheras the OC (sainsbury's) advised me the 'retained the right to buy back part of the account'....that sounds more like a pre agreement, which sort of contradicts the 'we have no interest amymore'..?

[dogtired]

Re: Debt Collection Agencies/Refunds

I forgot to say that it looked like a recon of documents with the SDAR?
And that also during the course of it they got the accounts confused!

[di30]

Re: Debt Collection Agencies/Refunds

Deed of assignment
Re: what is a deed of assignment?
Absolute - the DCA owns ALL the rights and duties of the original creditor and can enforce the agreement through the courts in their own name.

Equitable - the DCA has the right to collect the debt, but needs to work with the Original Creditor if legal enforcement is required. Also they may need to refer to the Original Creditor over certain matters

No deed of assignment no legal standing!

Re: Debt Collection Agencies/Refunds

I wonder if when a notification of assigment is sent to the debtor by the OC, which says we have sold all rights, title and interest to a DCA...and then admits several years later that in fact they have an agreement which allows them to buy back the account in full or in part from the DCA, is this just an outright mistruth then or is it designed to mislead the debtor ?

It is not necessarily either. You need to think of a debt as a commodity which can be bought and sold. Think of it as a car, a could sell it to b; b to c; c to d; When d puts it up for sale, technically there is nothing stopping a buying it back again, even though they've owned it before. With a debt, they just need to hold the correct licenses, and go through the legal process of informing the debtor correctly.

Hope that makes sense.

[dogtired]

Re: Debt Collection Agencies/Refunds

I have a sainsbury a/c from 2002,,do you have one fron the same period...?

Roughly the same, will check tomorrow, keep all stuff now.

[jax50]

Re: Debt Collection Agencies/Refunds

I have a sainsbury a/c from 2002,,do you have one fron the same period...?

[dogtired]

Re: Debt Collection Agencies/Refunds

The first must have been an Equitable then, but back then I was ignorent ! The second no assignment to any of the three involved and I had learnt, on this site, how to challange them.I cannot understand how two cards with the same parent bank could be so different. Have decided not to pursue the BOSone, reluctently, as I feel that Cabot got back more than they deserve.Sainsbury still seem to think that they are right and I do have a thread lurking about this, last letter from Wescott was in Septemberish.:tinysmile_hmm_t2: