Debt purchasing and assignment

[seduraed]

Re: Debt purchasing and assignment

I've seen a company called mis led me what they are offering to do is get rid of your debt by buying them from you . They charge £295 plus !0% of the value of the debt.
They only accept sme debts I suspect that they then go back to the original lender to and the court to get the debt written off on a legal technicality does anyone have any comments and thoughts on whether this is an effective method of getting shot of your debt. I do know that you have to terminate the agreement and all liabilities attached to the debt pass to the purchaser .


Any comments

[cymruambyth]

Re: Debt purchasing and assignment

Has anyone been to court using the Rob Way assignments of Sept 2009 in their arguments and been successful?
Thank you

[beachy]

Re: Debt purchasing and assignment

How accurate does a NoA have to be?, is it an important document?

Sorting out some paperwork regarding my Debenhams storecard account assigned to CL, have just realised that the box, in their 'welcome - you owe us now' letter, containing the legal 'bit' the Amount Assigned is blank & the letter itself doesnt state a figure.

Cohen & Co have now issued an LBA & under CPR 31:16 have provided the same NoA with no figure stated also got a copy of the DoA (mmmm?) and the Assignment date is one day out compered to the date on the NoA.

Will start a new thread on this as I have other queries but thought I'd post the NoA query here first.

BC

PS - Date assigned on the NoA is one day earlier than that stated on the DoA, also the OC has stated that a DN had been served (never received) and that they dont keep copies but provided a template DN to show what it would have looked like. Account terminated prior to selling to dca (so account couldnt have sold 'live'.

[basa48]

Re: Debt purchasing and assignment

Hate to be pedant, but it is my understanding that a Legal and Equitable assignments are not the same thing.

A Legal Assignment has to be 'absolute' (i.e. all of the debt - which is why it is sometimes known as an absolute assignment) assigned under hand (i.e. signed) and the debtor notified, whereas an Equitable Assignment is more or less informal and the debtor does not need to be formally advised.

Under Legal Assignment the new 'owner' has full rights including the right to sue in his own right. Under equitable assignment the assignee can still benefit from the debt but has to be joined by the OC in any legal action.

[StoneLaughter]

Re: Debt purchasing and assignment

I have just been in a Direction Hearing where the Judge stated that: The Notice of Assignment doesn't have to come from original creditor. I have a NoA so thats good enough for him!!

He didn't want to know when I stated about the Law of Property Act (1925.

Will I be able to bring this up at my Small Claims hearing soon? If they haven't got a properly executed NoA, according to these forums then they can't chase me in court??!?!

For reference my NoA came from Lewis Debt Recovery acting for CL Finance who had bought the debt from Barclaycard...

It's never going well when the Judge doesn't understand the Law and therefore falls down on the side of the idiot. I see an Appeal in your Future.

[gillwall]

Re: Debt purchasing and assignment

Hi
Hopre im on the right thread.
The countjudge at a county court hearing has ordered that cabot supply my with a statement of assignment in chronoloocal order from the date of inception. They have untill 22nd of march, what happens if i do not receive this, and what do i need to do.
Many thanks
gillwall

[Curlyben]

Re: Debt purchasing and assignment

Hi
Hopre im on the right thread.
The countjudge at a county court hearing has ordered that cabot supply my with a statement of assignment in chronoloocal order from the date of inception. They have untill 22nd of march, what happens if i do not receive this, and what do i need to do.
Many thanks
gillwall

Well they are over TWO weeks late.
Time to file for a strike out of their claim.

[gillwall]

Re: Debt purchasing and assignment

Thanks curlyben
Can you advice how I do this.
Many thanks
gillwall

[Doc2527]

Re: Debt purchasing and assignment

Hi Folks

I am looking for some help and advice.
I received two letters today in the same envelope(not recorded) one from dlc and the other from LTSB.

The dlc letter states that LTSB has now assigned Hillesden Securities Ltd trading as direct legal collections the outstanding balance effective 28/1/2011.

Under the terms of the assignment and as defined in the data protection act 1998 Hillesden Securities Ltd is now the data controller of your personal data contained in the records of this account.

The LTSB letter says "we are writing to notify you that LTSB Banking Ltd has assigned all of its respective rights,title and interest in respect of the above referenced account (including the outstanding balance) to Hillesden Securities Ltd effective 28/01/2011"

Any idea on what I should do now?

Many thanks in anticipation.

Kind Regards

Doc2527

[Curlyben]

Re: Debt purchasing and assignment

Ignore DLC as they are acting as an agent for Hillsden and as such have ZERO lawful rights to pursue this issue.

If it makes you feel better you could always throw a simple Prove It letter at them.
Post #4 in the first link in my siggie.

[squaddiewife]

Re: Debt purchasing and assignment

Hello again folks!!

Fredricksons placed a default on OH 's file, I sent them prove it letter, they sent a reply on the 7th April 2011 (from Bryan Carter solicitors LLP) basically saying they were no longer instructed in this matter and have returned the account to their client (phoenix recoveries) I've not heard anything from Phoenix and the default is still showing as Freds on his file....what to do???? Many thanks

[Angry Cat]

Re: Debt purchasing and assignment

The question here is:
who was the original data controller, when you defaulted?

[squaddiewife]

Re: Debt purchasing and assignment

Well they are saying it is HSBC....however the client that its getting sent to is Pheonix recoveries. So I am a tad unsure of who to approach.

[Angry Cat]

Re: Debt purchasing and assignment

Well they are saying it is HSBC....however the client that its getting sent to is Pheonix recoveries. So I am a tad unsure of who to approach.

So, HSBC was the original "Creditor"?
On what date did HSBC first mark the CRA credit file with a default?
On what date did HSBC serve a Default Notice under section 87 of the CCA?

If, you are unsure of these facts, I suggest that you make a subject access request (SAR) to HSBC and;
request under section 7 of the DPA, copies of the credit file in question from the Credit Reference Agencies.

[fastdeeds]

Re: Debt purchasing and assignment

Thanks on sharing them to us. Specially to me i am still learning on the outside world.