nram/marlin

[nitram94]

Hi All

Can anybody confirm the following as true:

"After a bit of research, I realised the debt collectors buy debts for less than 10p in the pound, after the bank writes the debt off. I also found out that under the Bills of Exchange Act 1882, the debt collector is actually paying off our debt when they buy it. I also realised how debt collectors trick us"

Thanks

In advance

Nitram94

[FlamingParrot]

Re: nram/marlin

What you say above is very likely to be true. Debts are bought for pennies in the pound and 10% is not far off, although one size doesn't fit all. When a debt is sold, the original lender writes it off as a tax loss. Having said that, these are all transactions between two parties that do not involve the debtor at all. The debt purchaser is still entitled to demand the full outstanding balance, so I can't see how this knowledge would be of any benefit to you or any debtor.

Have you got a NRAM loan that has been sold to Marlin? Would you care to provide us with more information? :typing:

[nitram94]

Re: nram/marlin

Yes I had a loan with nram that I defaulted on and was taken to court in 2008 and a charging order placed on my house. since then I have not been asked to pay anything and no arragment was made to pay.
nram sent me a notice of assignment to marlin on 28th of oct and I have since had a call from Mortimer Clark where i told them to put it in writing.
A letter has now come asking for my incomings and outgoings.

I was just wondering from that quote weather the ccj was passed on with debt.

[FlamingParrot]

Re: nram/marlin

Yes I had a loan with nram that I defaulted on and was taken to court in 2008 and a charging order placed on my house. since then I have not been asked to pay anything and no arragment was made to pay.
nram sent me a notice of assignment to marlin on 28th of oct and I have since had a call from Mortimer Clark where i told them to put it in writing.
A letter has now come asking for my incomings and outgoings.

I was just wondering from that quote weather the ccj was passed on with debt.

As they have a charge on your property, they have secured the debt. NRAM were probably too busy sorting out their own mess to bother you all these years but I know of someone who had a CCJ and a charge with Marlin. When no payments were made, they wrote stating their intention to apply to the court for an Order for Sale. Although they are very seldom granted, they can be used to enforce charging orders.

http://www.adviceguide.org.uk/englan...ing_orders.htm

[nitram94]

Re: nram/marlin

As they have a charge on your property, they have secured the debt. NRAM were probably too busy sorting out their own mess to bother you all these years but I know of someone who had a CCJ and a charge with Marlin. When no payments were made, they wrote stating their intention to apply to the court for an Order for Sale. Although they are very seldom granted, they can be used to enforce charging orders.

http://www.adviceguide.org.uk/englan...ing_orders.htm

Thanks FP for the link have read and understood. Though it don't mention selling a debt and C/O on to a third party...thats what I need advise on:~

Do Marlin have the same rights as nram to use the C/O?

also what action would you suggest?

Strangley the Nram entry in Experian has gone today

[nitram94]

Re: nram/marlin

could really do with some advise here please

[nitram94]

Re: nram/marlin

is it worth me sending a cca if there is already a C/o?

[FlamingParrot]

Re: nram/marlin

is it worth me sending a cca if there is already a C/o?

The duty to respond to a CCA request ends when judgment is obtained (a CCJ).

[nitram94]

Re: nram/marlin

I thought you might say that......nram have never asked me for the money since the charging order. infact the breif said they wouldnt be chasing it. what do you advise doing next?

[FlamingParrot]

Re: nram/marlin

I thought you might say that......nram have never asked me for the money since the charging order. infact the breif said they wouldnt be chasing it. what do you advise doing next?

NRAM probably meant THEY wouldn't be chasing it, because they would be SELLING it instead, in this case to Marlin. Going from past experiences as above, if Marlin and their in-house solicitors Mortimer Clarke don't get any offers of repayment from you, they may try to apply for an Order for Sale.

http://www.adviceguide.org.uk/englan...ing_orders.htm

What happens if there's an order for sale

Once they've been granted a final charging order, your creditor can apply for an order for sale. This is a court order which forces you to sell your property and pay your creditor back what you owe them out of the proceeds of the sale. From 6 April 2013, a creditor can't get an order for sale if the debt is less than £1,000. There's no lower limit for applications made before 6 April.
There will need to be another court hearing, which it is very important for you to attend. It is up to the court to decide whether to make an order for sale or not.
Why does a creditor decide to apply for an order for sale

Once they've got a charging order, some creditors will be prepared to wait for you to sell your home whenever you're ready, at some point in the future. However, others will apply for an order for sale straight away. This could be the case even if you owe them a fairly small amount of money compared to the value of your home.
Whether or not a creditor is prepared to wait, depends on how quickly they want their money back. They may also take one or more of the following things into consideration:

• whether you can pay the money back within a reasonable time in another way. For example, you may be able to make regular payments or raise a lump sum to clear the debt. But if you were given time to pay the money back when the final charging order was made and you haven't kept to your agreement, they will probably apply for an order for sale
• whether there are other mortgages or secured loans to be paid off first, out of the proceeds of the sale. If there are other debts that need to be paid off first, your creditor may not gain anything by forcing you to sell your home
• how much equity there is in the property. Equity is the amount of profit you would make on your home once the property is sold and the mortgage is paid off. If there is little or no equity in the property, it may not be worth the creditor forcing you to sell your home
• if they think you have deliberately refused to pay back the debt even though you're able to
• whether they think forcing you to sell your property is the only realistic way of getting their money back.

How will the court decide whether to grant an order for sale

If your creditor does decide to apply for an order for sale, you will be asked to go to court. It’s very important that you go to the court hearing so they know about your situation.
Try to get some advice as early as possible before the day of the court hearing for the order for sale. If you can, take a legal representative with you such as a specialist adviser. You may get help with your legal costs.
The legal situation can be very complicated and you may be able to make a number of legal and personal arguments why the property shouldn’t be sold.
The court can order a sale where:

• the debt is in your sole name and you are the sole owner of the property, or
• the debt is in both the names of the joint owners of the property.

If the debt is in your sole name and the property is in joint names, the creditor can apply for an order for sale to realise their interest in the property. Your creditor will have got an interest in your share of the property when the final charging order was made.
If there are joint owners of the property but the debt is only in your name, it may be more difficult for the creditors to get an order for sale. That's why it's really important for all joint owners to go to the court hearing for the order for sale, so they can explain their situation. This includes a husband or wife who is not a joint owner, but who will have a beneficial interest in the property.
The court can decide that it's unfair to force someone who wasn't responsible for the debt to leave their home.
It will also look at the interests of the whole family and decide whether or not these are more important than those of the creditor. Some of the things it will take into account include:

• is there enough equity in the property to pay off the mortgage, and the charging order debt? If there isn't, it may not be worth forcing you to sell your home
• the reasons you bought your home. Is it intended as a long-term family home, or that an older person will live there for their lifetime?
• the welfare of any children. Are there any special things to consider such as age, disability or illness? What would be the effect on the children of moving and is there a need for stability at school
• there are other ways you can pay back the debt, such as with an instalment order, administration order, or an attachment of earnings order.

If any of these things apply to you, you should make sure that the court knows about them.
You can still make an offer of payment at this stage and ask the court not to order a sale as long as you keep up with the payments. You should provide a full financial statement of your circumstances. You can ask the court to adjourn the order for sale proceedings, or to suspend the order.
For more information about providing a financial statement, see How to work out your budget. You can also use our online budgeting tool to fill in a financial statement.

[FlamingParrot]

Re: nram/marlin

Yes I had a loan with nram that I defaulted on and was taken to court in 2008 and a charging order placed on my house. since then I have not been asked to pay anything and no arragment was made to pay.
nram sent me a notice of assignment to marlin on 28th of oct and I have since had a call from Mortimer Clark where i told them to put it in writing.
A letter has now come asking for my incomings and outgoings.

I was just wondering from that quote weather the ccj was passed on with debt.

You say there is a charge on your house since 2008, yet you're trying to find out if there's a CCJ by searching the public record? :noidea: If it was obtained in 2008, it will drop off the record next year, but the charge will stay in place.

[nitram94]

Re: nram/marlin

i am trying to find out what legal rights Marlin have with me....can they enforce the charging order?

[FlamingParrot]

Re: nram/marlin

i am trying to find out what legal rights Marlin have with me....can they enforce the charging order?

Enforce it? The way to enforce a CO is to apply for an order for sale, to force the sale of your property so they can get their money. In reality, such orders are hardly ever granted by a court for consumer credit debts below £25k. I do know Marlin wrote to a debtor with a CO who had made no payments towards it, stating their intention to apply for an order for sale, the debt was around £3k and it all got settled out of court.

Enforcement of charging order by sale

73.10

(1) Subject to the provisions of any enactment, the court may, upon a claim by a person who has obtained a charging order over an interest in property, order the sale of the property to enforce the charging order.

(2) A claim for an order for sale under this rule should be made to the court which made the charging order, unless that court does not have jurisdiction to make an order for sale.

(A claim under this rule is a proceeding for the enforcement of a charge, and section 23(c) of the County Courts Act 1984 provides the extent of the county court's jurisdiction to hear and determine such proceedings.)

(3) The claimant must use the Part 8 procedure.

(4) A copy of the charging order must be filed with the claim form.

(5) The claimant's written evidence must include the information required by Practice Direction 73.

Source: http://www.justice.gov.uk/courts/pro...art73#IDAXTYIC

If you keep up agreed payments into the CCJ secured with a CO, the court probably wouldn't even look at the application. :juge:

[nitram94]

Re: nram/marlin

Thanks for that info....my point is that no payments was set with the CO by nram or the court so havnt paid anything.

So marlin do get the rights to the of the CO passed on to them?

So would you advise ignoring them and see what they come back with?

[Graham2704]

Re: nram/marlin

Have a look in the forum of... Get out of debt free site... there is advice on there as well I am in the same position but my original CCJ was for £14300 paying £260 per month never missed a payment Its down to £5500 then nram sold it to Marlin I am asking for a "Deed of assignment" from Marlin as proof as it was assigned to NRAM by the court and on the Land registry as Nram this is Third party inter looping by Marlin anyone can send a letter saying I owe THEM money does not mean its true that's why I am checking Trustonline.com to see if the charging order has been settled they sent the same letter No name on it asking for payment I am still getting info to see what to do next