Secured loan with dissolved company????????

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tropical1979
tropical1979 Posts: 3 Newbie
in Bankruptcy & living with it
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

Comments

  • Minkym00
    Minkym00 Posts: 770 Forumite
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    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
    CCKicks Posts: 2 Newbie
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    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
    DCFC79 Posts: 40,598 Forumite
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    edited 25 May 2019 at 6:39PM
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    The debt will have been bought as part of the loan book, its valuable to who ever bought it.
  • antrobus
    antrobus Posts: 17,386 Forumite
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    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
    sourcrates Posts: 28,878 Ambassador
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    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.
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  • Mouse007
    Mouse007 Posts: 1,062 Forumite
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    edited 27 May 2019 at 10:02AM
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    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.

    BBC WatchDog “if you are struggling with an unfair parking charge do get in touch”


    Please email your PCN story to watchdog@bbc.co.uk they want to hear about it.
    Please then tell us here that you have done so.

  • tropical1979
    tropical1979 Posts: 3 Newbie
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    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
    WhenIam64 Posts: 1,052 Forumite
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    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.
    Unlike some here, I am not omniscient. If I am wrong correct me. I won't take offence.

    The law is like an ocean - have a swim but don't drown.
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