Has my bank stiffed me?

BarclaysManager wrote: »

In terms of where you stand, what are you expecting? A firm can privately sell a debt on to a third party as and when they please, you've got no recourse over that.

So long as they have crossed their T's and dotted the I's by way of legally assigning the debt and letting the debtor know, which in this case clearly has not happened!

If some random company writes to you, then send them a prove it letter cos you were never told of a new NOA meaning you can deny acknowledgment of them and their letters.

There are strict laws surrounding this and one mistake can knacker their whole recourse and this is the way i'd be looking to get them. Co-Op are crap and so are C.A.M (Phoenix) so don;t worry - just tell them to get lost!

OP, head into credit cards and look for some of the stuff in there about unenforceability and default removal. This will help.

Phoenix is actually Credit Account Management, its not changed to this has it? If so, its the same.

BarclaysManager wrote: »

Why don't you actually cite the laws? You're saying there's a requirement to let the debtor know, which law provides for this? It's not in 1974 or 2006, and it's not in 664, either.

Bit like saying there is a requirement that CRA's hold data for 6yrs - yet show me the law.

The facts - If a debt is assigned, the Debtor must be told of the Assignment and to whom they should now pay the money. If they are not told about the Assignment and pay the Assignor, the debt will be discharged (i.e. meaning you owe nothing!). A letter should be sent telling the Debtor of the Assignment and must be sent to their current address. The letter should be sent in duplicate with one copy containing a receipt for the Debtor to sign and return.

As I say there are laws in place to stop illegal activities and if you're uncertain of such laws please do not attempt to obscure the facts by citing I quote law.

I will not enter petty arguments with you when you work for the opposition and do not know the first thing about consumer related debt! You encourage it not fight it.

Brian1966 wrote: »

N-I-D
Citi-financial have just given me a right of assignment regarding your £4000 credit card bill.
I therefore demand immediate payment within 7 days.
Don't dare ask me for proof..I don't need any.. just pay up NOW

That is what I am trying to say - well illustrated mate, thanks!

So that means that legally you are now the owner of my £4k debt, as this is a holiday which i'm not going on yet you may have my tickets in exchange? Enjoy Cuba Mr DCA Brian....

Not so fast young man!

Nooooo says the clever little niddy - you have no power to request this money as the Original Creditor must advise me that the debt has been assigned without which, as you've now formally requested payment in writing, becomes discharged meaning I can keep my holiday for freeeeeeeee.

Ooooops Silly DCA Brian - if only you'd instructed the OC to tell me that they'd assigned the debt to you, before you contacted me, then you'd be going to Cuba in the next few weeks - not me! :rotfl: :rotfl:

I think the above clearly illustrates that niddy does, indeed know best

p.s its actually called Notice of Assignment (NOA) lol

Ah well..
it was worth a try.
Didn't want to go to Cuba anyway...much prefer a wet week in Rhyl
It never ceases to amaze me though how many DCA's trawl the telephone directories and Electoral roll's writing to everyone with the same surname and initial purporting to be the owner of an alleged debt in the hope that some frail old person will get scared and simply pay up.
The Marlin programme last week showed just how unscrupulous these people are...we MAY make you bankrupt...we MAY kill your dog :rotfl:

Some companies specialise in debt recovery and can be 'sold' your debt in order to recover it on your behalf. They may charge a fixed fee or take a percentage of the money they recover. When this occurs you will be assigning the debt.
If a debt is assigned, the Debtor must be told of the Assignment and to whom they should now pay the money. If they are not told about the Assignment and pay the Assignor, the debt will be discharged.
Notice of Assignment
Other than telling the Debtor that the debt has been assigned, there are no other formalities required. However, it is prudent to record the Assignment in writing and give the notice by letter. It is also advisable to have the signature of the Assignor witnessed by an independent witness who should add their name, address and occupation.
The money paid to the Assignor should be an exact, defined amount; for example £1023.50 (i.e. not a percentage of a whole, or a vague value). However, if it is not a definite sum, the Assignment will still be enforceable but the enforcement will be complicated by the Assignee having to sue both the Assignor as well as the Debtor.
The letter telling the Debtor of the Assignment must be sent to their current address. The letter should be sent in duplicate with one copy containing a receipt for the Debtor to sign and return. To assist the Debtor, a stamped address envelope ought to be enclosed. If the Debtor does not acknowledge receipt of the letter telling them of the Assignment, it may be that they have not received the letter. A useful precaution to ensure that the Debtor has received the letter is to send it by recorded delivery post and request a receipt. The Assignee must find the Debtor and tell them of the Assignment or risk the Debtor discharging the Debt by paying the Assignor.