Secured loan with dissolved company???????? 23 May 2019 at 7:12PM edited 30 November -1 at 1:00AM in Bankruptcy & Living With It 8 replies 2.8K views

tropical1979

Hi

Some brief help would be appreciated. Bankrupt in 2012, 1 x secured debt attached to house, the bank who the debt was with transferred it to Incasso I believe. Incasson have been dissolved and the company that bought them are closed now too.

So, do I still have this debt, its still attached as a CCJ, would it go back to the original bank?

Its just after all this time I can pay off the aprox 11k and put everything behind me. But it would be amazing if I didnt owe it anymore and I've got 11k spare !

Anyone know, complicated I know, couldnt find an answer searching the net


Rik

Minkym00

Are you sure they’re dissolved as they still have an active website dated 2019?

If they are then someone will have bought the secured debt to be sure.

Only they can release the charge so try contacting them to make the payment and ask for the charge to be released.

CCKicks

Debt is sold as a product between companies, and any company being dissolved will sell its loan book.

Since you own your property (i assume this to be the case, and that you have a mortgage), then this will come up as an issue when you come to sell as the proceeds will go into the mortgage. It is definitely worth tracing who it has gone to.

DCFC79

The debt will have been bought as part of the loan book, its valuable to who ever bought it.

antrobus

INCASSO LLP was dissolved on 18 May 2014.
https://beta.companieshouse.gov.uk/company/OC315415

They were a small debt recovery company, so I doubt they ever owned the debt.

sourcrates

It dosent matter who owned the debt, once they went into liquidation, the assets of that company would be realised by the liquidators, this can take time, the debt has not been written off, and you will still owe it, and are legally liable for it.


In due course the loan book will be sold and another punter will pick it up as a part of their portfolio.


When this happens, chances are they will be unaware of events prior to them becoming involved, at that point you should revisit this thread for further advice.

Mouse007

Curious; Incasso LLP was liquidated and its assets sold to HL Legal Solicitors (as a pre pack) who were subsequently dissolved (struck off / not liquidated).


So unless HL Legal Solicitors transfered the debt before being struck off, you owe the money to the Queen.

tropical1979

No update yet im afraid. But looking forward to paying it back to the Queen. Might do it in 1p's though, sure she will see the funny side!

WhenIam64

Might do it in 1p's though

Legal tender is 20 x 1p but you can pay it all in £1 coins as an alternative.