Rockwell Debt Collection 22K Debt Advice!!

woody01

Reading through this again, i think you may have further serious issues with your debt and what the money was spent on.

Was it a business loan or a loan that was spent on opening a business? Two different things.
If it was a business loan, and you spent 10% on somewhere to live, you may be on a very sticky wicket.

As far as enforcability goes, that is a straw clutching comment i think, as you have mentioned nothing to suggest any wrong doing has taken place from their side.
The debt is too recent anyway to go unenforcable anyway (although i am open to correction on that one).

Don't bury your head in the sand as this will only get worse. Contact the origianl lender and sort this out now, because, as Fermi says, a CCJ is almost a certainty, and a charging order on your property as a result is a very realistic outcome.
£50 a month just won't cut it with wouldn't think, with a debt that big.

The whole credit system stinks! :money:

Why is that? If it's implemented correctly by the lender (which this has been by the sounds of it), and the consumer is responsible enough in their approach to their finances, it's a good thing.

Kalinikta

woody01 wrote: »

Reading through this again, i think you may have further serious issues with your debt and what the money was spent on.

Was it a business loan or a loan that was spent on opening a business? Two different things.
If it was a business loan, and you spent 10% on somewhere to live, you may be on a very sticky wicket.

As far as enforcability goes, that is a straw clutching comment i think, as you have mentioned nothing to suggest any wrong doing has taken place from their side.
The debt is too recent anyway to go unenforcable anyway (although i am open to correction on that one).

Don't bury your head in the sand as this will only get worse. Contact the origianl lender and sort this out now, because, as Fermi says, a CCJ is almost a certainty, and a charging order on your property as a result is a very realistic outcome.
£50 a month just won't cut it with wouldn't think, with a debt that big.


Why is that? If it's implemented correctly by the lender (which this has been by the sounds of it), and the consumer is responsible enough in their approach to their finances, it's a good thing.

Hi Woody, OK, just to be clear, this is a personal unsecured loan. It is not a business loan. It has no business connections.

Yes I know it is past the unenforceable date; im not going to go that route.

Im definitely going to talk to SA and see who owns what and what we can do about it.

The credit system stinks because it is designed to entrap you in a lifetime of debt. Without going into too much detail and derailing my own thread download Zeitgeist Addendum for the reasons why the credit system is at the root of all financial problems.

I will post back with the conversation I have with SA. I will also put up any correspondence from RW.

Cheers

K

WRINKLES

woody01 wrote: »

Wrinkles....you are SO wide of the mark and that advice is pretty poor.

For 22K i doubt this is a scare tactic.
If you also read the OP, you would they are ACTING on BEHALF, so it doesn't read as though they have bought the debt.

If this is the case, they won't let this drop.
They could take you to court for a CCJ (which sounds like a certainty), and then they could force a bankruptcy to get some money from the property bought.

We are talking big money here, not just an unpaid mobile phone bill.

My reason for sending a prove it letter would be the same to anyone ie to make sure the company demanding payment of a debt is legally entitlled to do so dca regularilly send demands for payment from pre legal departments which means nothing,if they go for bankruptcy which is expensive they would only get paid if there were anything left after the sale of his property which there would not be, if they get a ccj they would only be awarded what this person could pay, so a prove it letter at this stage in my opinion would be the sensible way to start:beer: HAVE A BEER CHILL OUT

Kalinikta

WRINKLES wrote: »

My reason for sending a prove it letter would be the same to anyone ie to make sure the company demanding payment of a debt is legally entitlled to do so dca regularilly send demands for payment from pre legal departments which means nothing,if they go for bankruptcy which is expensive they would only get paid if there were anything left after the sale of his property which there would not be, if they get a ccj they would only be awarded what this person could pay, so a prove it letter at this stage in my opinion would be the sensible way to start:beer: HAVE A BEER CHILL OUT

Yes, I agree, when I receive the next communication from them I will send a prove it letter. I will speak to Santander just to get the heads up on what they have done with this loan in terms of ownership.

There definitely wouldnt be any funds for them to get through the courts as I dont have any equity yet and no other financial assets.

Cheers

K

Kalinikta

I spoke to Santander today and they have sold the entire debt to Rockwell.

What does this now mean? All they have done is send me two letters, both identical as in the beginning of the post.

Thanks for any replies.

K