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    • tropical1979
    • By tropical1979 23rd May 19, 6:12 PM
    • 3Posts
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    tropical1979
    Secured loan with dissolved company????????
    • #1
    • 23rd May 19, 6:12 PM
    Secured loan with dissolved company???????? 23rd May 19 at 6:12 PM
    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
Page 1
    • Minkym00
    • By Minkym00 24th May 19, 6:28 PM
    • 136 Posts
    • 57 Thanks
    Minkym00
    • #2
    • 24th May 19, 6:28 PM
    • #2
    • 24th May 19, 6:28 PM
    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
    • By CCKicks 25th May 19, 6:42 AM
    • 2 Posts
    • 0 Thanks
    CCKicks
    • #3
    • 25th May 19, 6:42 AM
    Secured loan with dissolved company????????
    • #3
    • 25th May 19, 6:42 AM
    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
    • By DCFC79 25th May 19, 6:45 AM
    • 34,598 Posts
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    DCFC79
    • #4
    • 25th May 19, 6:45 AM
    • #4
    • 25th May 19, 6:45 AM
    The debt will have been bought as part of the loan book, its valuable to who ever bought it.
    Last edited by DCFC79; 25-05-2019 at 5:39 PM.
    • antrobus
    • By antrobus 25th May 19, 10:18 AM
    • 16,725 Posts
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    antrobus
    • #5
    • 25th May 19, 10:18 AM
    • #5
    • 25th May 19, 10:18 AM
    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
    • By sourcrates 25th May 19, 11:24 AM
    • 17,712 Posts
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    sourcrates
    • #6
    • 25th May 19, 11:24 AM
    • #6
    • 25th May 19, 11:24 AM
    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.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".

    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views expressed are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    • Mouse007
    • By Mouse007 26th May 19, 5:00 PM
    • 131 Posts
    • 83 Thanks
    Mouse007
    • #7
    • 26th May 19, 5:00 PM
    • #7
    • 26th May 19, 5:00 PM
    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.
    Last edited by Mouse007; 27-05-2019 at 9:02 AM. Reason: typo
    • tropical1979
    • By tropical1979 18th Jun 19, 7:01 PM
    • 3 Posts
    • 0 Thanks
    tropical1979
    • #8
    • 18th Jun 19, 7:01 PM
    Queen
    • #8
    • 18th Jun 19, 7:01 PM
    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
    • By WhenIam64 19th Jun 19, 4:09 PM
    • 543 Posts
    • 302 Thanks
    WhenIam64
    • #9
    • 19th Jun 19, 4:09 PM
    • #9
    • 19th Jun 19, 4:09 PM
    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.
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