the three letter process

Stevespy

We have lots of Success on BEAT THE BAILIFFS Facebook group. Join and see how many Debt Purchasers are closing their account. That is because we are using not only the Three Letter Process, but also GDPR which was introduced last year, it is a total nightmare for them.

The Three Letters is recommended for debts that have been sold on from the Original Creditor.

Many buy debts in bulk and they simply do not get the Legal Paperwork required. When you challenge them they run back to the Original Creditor who quite often has binned all the original paperwork. So the TWO documents they cannot get hold of that they need are the CONTRACT (original one) and the DEED of Assignment (they try to rely on a Notice) but the Supreme Court has ruled, you are entitled to view the Deed of Assignment (also referred to as the Sale Agreement) between Assignor and Assignee.

The THREE LETTER PROCESS is based on Statute Law, the Law of Property Act 1925, so it is not "FMOTL pseudo-legalese carp" as referred to above.

It is worth a go before you start paying Debt Buyers who simply buy debts for 12% of their original value!

We have lots of examples of Debt Companies closing the accounts and writing off Hundreds of Thousands of Pounds of alleged "DEBT". Try it, it costs very little to send Three Letters

sourcrates

Stevespy wrote: »

We have lots of Success on BEAT THE BAILIFFS Facebook group. Join and see how many Debt Purchasers are closing their account. That is because we are using not only the Three Letter Process, but also GDPR which was introduced last year, it is a total nightmare for them.

The Three Letters is recommended for debts that have been sold on from the Original Creditor.

Many buy debts in bulk and they simply do not get the Legal Paperwork required. When you challenge them they run back to the Original Creditor who quite often has binned all the original paperwork. So the TWO documents they cannot get hold of that they need are the CONTRACT (original one) and the DEED of Assignment (they try to rely on a Notice) but the Supreme Court has ruled, you are entitled to view the Deed of Assignment (also referred to as the Sale Agreement) between Assignor and Assignee.

The THREE LETTER PROCESS is based on Statute Law, the Law of Property Act 1925, so it is not "FMOTL pseudo-legalese carp" as referred to above.

It is worth a go before you start paying Debt Buyers who simply buy debts for 12% of their original value!

We have lots of examples of Debt Companies closing the accounts and writing off Hundreds of Thousands of Pounds of alleged "DEBT". Try it, it costs very little to send Three Letters

Would you, or would you not agree, that it all boils down to the fact that a creditor who cannot provide evidence of liability for a debt, cannot take the appropriate action through the courts to enforce their rights.


No evidence, no debt in the eyes of the law, why send 3 letters when one provit letter will suffice ?

I`m looking, but cant find that supreme court ruling ??

kellamergh

I'm telling you, it does work.
Debts bought by debt collectors are debts paid. Cheers, guys!

The issue for the debt collection agencies, is that they don't follow the correct legal procedures.
A credit agreement is not a contract, nor a deed of assignment.

I have used this letter system on numerous occasions and have had everything written off.
Lowell applied for court action (very rare) and as soon as I sent the court the copies of the letters and proof of posting, the courts demanded Lowell send them documents that they had no possession of.
Lowell withdrew their court claim and declared the balance 0.00.


Try the 3 letter system and you'll find that it does work.
You have, absolutely, every right to ask for lawful proof of debt.

I could send you a letter, demanding payment. It is your right to ask me for the proof of my claim and if I cannot prove the debt to you, you'll smash my claim in court.

Barney_Rubble_0403

"Debts bought by debt collectors are debts paid". That's brilliant news. Think I'll default on my loans today and wait for the debt collectors to buy it.

Kentish_Dave

Where do people get these stupid ideas from, and more to the point have people trying them got no shame? If you owe money, don’t try to wriggle out of it like this just pay it.

Kellamergh, you are lying here. I don’t know why, but please, grow up, or post your proof.

Brock_and_Roll

"Debts bought by debt collectors are debts paid"

Ha ha ha ha.!!!!!

If that were the case the entire banking & financial system would instantly fall to pieces.

Lets look at what really happens....

* Creditor A has had no luck getting payment of £100 from Debtor X

* Buyer B offers to "buy" Debtor X's debt for 5p in the pound.

* Creditor A is happy with the deal - 5p more that he was getting and writes the other 95p off in its books.

* CRUCIALLY the benefit (but usually not any obligations) of the loan agreement with Debtor X is ASSIGNED to Buyer B

* Buyer B has now "stepped into the shoes" of Creditor A and can attempt to collect the debt as lender.

This happens every minute of the day in all aspects of banking from consumer finance right up to billion pound exposures.

All this only works if:

1) the underlying loan agreement is legally valid

2) there is no specific clause in the underlying loan agreement preventing assignment*

* If the document is silent, an equitable assignement would still be enforceable and recognized by the courts. In reality a clause allowing assignment and NOT requiring permission will be in all consumer finance contracts.

So in a nutshell, if you legally own the money, an assignee can legally pursue you for it!

Bobby.

Ignore all the people who are saying "it wont work"

There is a possibility it can work, and its dependent upon multiple factors, such as whether documents were done properly on day one, whether documents have been lost since... + many more etc.

The people who are saying 100% it wont work simply cant bear that somebody may get away with a debt whilst they are goody-too-shoes and pay there way. IE they are biased and butthurt.


Thats the truth of the matter.

I know of two people who have done a similar process and after the debt was never called upon.

Willing2Learn

The three letter process, from what I have read and remember comprises of three specific requests of the DCA:

• A true copy of the Credit Agreement
• A copy of the deed of assignment (not a notice of assignment)
• A copy of the default notice

The only valid request which must be complied with, is the request of a true copy of the credit agreement.
Only a court can request a copy of the deed of assignment.
From everything I have read, a creditor does not have to provide a customer with a copy of a default notice.


I think it is just luck when a creditor (DCA) folds under a three letter request of documents. And would no doubt be due to the fact that there is no copy of a credit agreement available...

TripleH

I have a 2 letter process.

Dear Mr Triple H, you owevus £5,000. Pay us some money
Mr Triple H " NO" jobs a good'un.

For those saying the three letters works, how much of that is down to the 3 letters themselves, or the content they share with the 1 letter approach sourcrates suggested? Plus we hear of the success, but how many timrs has the 3 letters been unsuccessfully used?

Bobby.

Triple H, thats a good-un, lol.


Also, you are right, its not necessarily the three letters just the initial one.