Query about debts being sold on

mrelephant_2

Can anyone advise on wether or not i should ask for proof of debt before making payments,

Outstanding debts of 3 of my creditiors have been sold on to third parties, Blair Scott & Oliver............1st Credit,,,,,,,,and Credit Solutions


3 of my creditors have obviously lost patience with me only being able to make minor token offers towards repayment of my debts and after warning me by letter that my debts may be sold on, have finally chosen to, to the above collection agencies.

i intend to continue with my token offers for the next couple of months whilst i speak with Payplan about other repayment options as my available expenditure has increased of late sinc setting the original token offers.

But i have read elsewhere on here about people insisting debt collection agencies claiming to have purchased debts from others, provide them with proof of the original loan agreement to prove they have taken over the loan the outstanding debt.

Do you think i should do this, even though i know i am in debt to the original loan companies? I suppose what i am hoping is that the new collection agency does not have the original agreement papers and therefore i can refuse to accept i owe any money to them if they cannot produce proof i have an oustanding loan,,,,,,,,,,,,,long shot i know,,,but does anyone know if this has worked with other people????? Afterall,,,who's to say these so called debt collectors haven't hacked into data somewhere to get my debt info,,,,,stranger things have happened.

At the end of the day,,,,,if the new third party own my debt, surely they must be able to provide proof that i have an outstanding loan by producing the original agreement,,,,,must be like purchasing a car,,,,if you dont purchase the log book along with it,,then you dont have proof you own the car...........
Any thoughts?

file_wizzard

mrelephant wrote:

Can anyone advise on wether or not i should ask for proof of debt before making payments,

Yes ALWAYS ask for proof, this will serve to verify the account balance also.

Copy of letter to use if debt has been purchased by a debt-buyer. Enclose a £1 postal order in payment of the statutory fee and send by Recorded Delivery. They have 12 (working) days to respond. If they don't supply it within 30 days, they've committed a criminal offence. Report them to your local Trading Standards office.

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I do not acknowledge ANY debt to your company. I require you to supply the following documentation before I will correspond further on this matter.

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit) - your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number xxxxx.

2. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.

3. You are notified that you are obliged to supply these documents, whether you are the original creditor or not under S189 of the CCA 1974.

Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.

Take note at this stage, that any legal action you may contemplate will be both vigorously defended and contested.

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mrelephant wrote:

At the end of the day,,,,,if the new third party own my debt, surely they must be able to provide proof that i have an outstanding loan by producing the original agreement,,,,,must be like purchasing a car,,,,if you dont purchase the log book along with it,,then you dont have proof you own the car...........,

If the debt has been sold or "assigned" then the ORGINAL CREDITOR has a legal duty to inform you of this, if they havent then the transfer is unenforcable

mrelephant_2

Thanks Wizard

I have actually already posted a min token payment of £3 to these debt collection third parties before i thought about asking for proof they own the debt.

Will this mean i am in theory accepting that i acknowledge they are the owners of the debt or am i still within my rights to refuse further payments until they send me proof of ownership of my debts?

derek

Oh, by the way thanks for the information you have posted.

Percy_Vere

Firstly, I don't think the debts have been sold yet as one of the dca's you mention Blair, Oliver & Scott is actually Halifax, Bank of Scotland so they wouldn't sell debt to themselves.

Secondly, either the lender or the dca will write to you informing you they have either bought or sold the debt and to who - it would be highly unusual for them not to do this as it forms part of the contract.

Thirdly, Asking for proof of the debt is always a good idea if you dispute it for any reason but in your case it is nothing more than an attempt to avoid paying. DCA's know this is a ruse often used and are well able to deal with it.

Please remember that you want them to offer you a concession (reduced payments) so why single yourself out as someone who wants to make things awkward.