Didn’t receive a claim form and now have ccj

WhenIam64

@JustDi

Any business entity, such as a debt purchaser, which is not authorised by the FCA cannot lawfully issue legal proceedings in the county court (it's a criminal offence if they do).

A recent court ruling confirmed that.

Could you cite that case as it appears to narrow debt purchase to a single group, and I'm not sure that is the case. I'd like to see the specifics if possible.

On the other hand, if the case does narrow it to a specific group and the case confirms, then there are a couple of firms I know that have a financial meltdown coming.

Just_Di

WhenIam64 wrote: »

@Just Di
Could you cite that case as it appears to narrow debt purchase to a single group, and I'm not sure that is the case. I'd like to see the specifics if possible.

I like a challenge

Forum rules mean I must be anonymous and not post what I do for a living on threads, but you can read this posted on another forum if that helps >



" On 24 April 2019 we were successful in a consumer credit Appeal on the issue of FCA Authorisation - or rather, lack of FCA Authorisation. Idem Capital Securities Limited admitted in court they were not authorised by the Financial Conduct Authority to exercise the rights of a lender but said they were exempt as they had a valid servicing agreement in place with an affiliated 3rd party who was authorised by the Financial Conduct Authority.

It was accepted by both parties that there was a valid servicing agreement in place. The issue for the Circuit Judge to decide whether Idem Capital Securities Limited could rely on the exemption under paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 to issue proceedings in the county court.

The Circuit Judge held as a general principle of law that Idem Capital Securities Limited was not able to rely on the FCA authorisation of an affiliated 3rd party ( paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001) for the purpose of bringing a claim. The agreement was unenforceable, and the order of the court below was set aside, and the Claim dismissed.

Idem Capital Securities Limited did not appeal the judgment. "



Since Idem Capital Securities Ltd didn't appeal the Judgment they are deemed to have accepted it.

Only parties to the case can have a copy of the Judgment (and/or transcript of the Hearing) so you'll just have to believe me

Di

D_M_E

Nice to see Just Di back on the forum offering help with queries.

Jastamaralily

Hi, I’ve only just found out I have a ccj which I didn’t know what it was until I searched it up today. I found out through credit karma as I was wondering why I couldn’t get a loan for my first new car I’m wanting to buy. After researching I’m very confused why I have it and it shows I’ve had it for a year or so, so I’ve missed the first month of trying to sort it out and now I don’t know what to do. I know i don’t owe debt so what would you say is the best way to go about it? I’m feeling very anxious as I’m 20 years old and my life has barely started, I have been a victim of fraud in the past and I’m thinking that might be something to do with it. If anyone’s got any good advice please let me know. Thanks, Jasmine.

Sncjw

It would be better to start your own thread