Legal clause for selling, assigning, or transferring account to third party

[highwire]

Hi guys,

I have a DCA on my back for a different payday loan account from 2 years ago which they have bought. They have sent me the agreement and having read through it, there is no clause/term that permits the sale, assignment or transfer of the account to a third party. Can somebody please confirm to me that this is definitely a legal requirement and that without it, they are acting unlawfully?

Also which law does it come under please?

In addition, the account was never defaulted by the original creditor and has been sold directly from them to the DCA. If the account was not defaulted or formally terminated, surely they cannot enforce it?

Thanks in advance

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

Hi guys,

I have a DCA on my back for a different payday loan account from 2 years ago which they have bought. They have sent me the agreement and having read through it, there is no clause/term that permits the sale, assignment or transfer of the account to a third party. Can somebody please confirm to me that this is definitely a legal requirement and that without it, they are acting unlawfully?

Also which law does it come under please?

In addition, the account was never defaulted by the original creditor and has been sold directly from them to the DCA. If the account was not defaulted or formally terminated, surely they cannot enforce it?

Thanks in advance

Hello highwire,

Which PDLC was this and who owns the debt now?
nem

[highwire]

Re: Legal clause for selling, assigning, or transferring account to third party

You're gonna love this nem... it's my friends at SLL again for a Pdlc called Access Fast Money (still trading under Access Mortgage Underwriting Ltd).

The loan was £150 and they want £262. But unlike the other agreement they won in court with, this one doesn't have the clause mentioned above, nor was it defaulted by the active OC.

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

You're gonna love this nem... it's my friends at SLL again for a Pdlc called Access Fast Money (still trading under Access Mortgage Underwriting Ltd).

The loan was £150 and they want £262. But unlike the other agreement they won in court with, this one doesn't have the clause mentioned above, nor was it defaulted by the active OC.

Ohh great!!

I think I would send a prove it letter, requiring them to provide proof that they have the right to collect this debt.
Has SLL sent any other correspondence?

nem

[highwire]

Re: Legal clause for selling, assigning, or transferring account to third party

I know right! I've already sent them prove it letters, they came back a 2-page credit agreement and a letter from the OC confirming the sale to SLL.

The T&Cs are missing and this is where I'd imagine that clause would/should be.

They have sent me their own default notice today, but because the OC is still trading this can't be right can it?

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

I know right! I've already sent them prove it letters, they came back a 2-page credit agreement and a letter from the OC confirming the sale to SLL.

The T&Cs are missing and this is where I'd imagine that clause would/should be.

They have sent me their own default notice today, but because the OC is still trading this can't be right can it?

No it's not right HW and I dont' believe a letter saying the debt has been sold can be trusted.
A proper Notice od assignment referring to The Law of Property Act 1925 is what you should
have.

Going to do a little checking.

Back later.

nem

[highwire]

Re: Legal clause for selling, assigning, or transferring account to third party

No it's not right HW and I dont' believe a letter saying the debt has been sold can be trusted.
A proper Notice od assignment referring to The Law of Property Act 1925 is what you should
have.

Going to do a little checking.

Back later.

nem

Sorry I didn't mention, they did send a proper NoA a few months back, but put this account on hold til after the court hearing of the other one.

I know the last case had a slim technical chance, but I feel this one actually has a solid defence....

Thanks

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

Sorry I didn't mention, they did send a proper NoA a few months back, but put this account on hold til after the court hearing of the other one.

I know the last case had a slim technical chance, but I feel this one actually has a solid defence....

Thanks

Could we see the NOA please HW?

nem

[highwire]

Re: Legal clause for selling, assigning, or transferring account to third party

Could we see the NOA please HW?

nem

I'm unable to upload anything at the moment but will try to get scanned copies of everything on Monday and will then post it up

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

I'm unable to upload anything at the moment but will try to get scanned copies of everything on Monday and will then post it up

That's fine HW have a good weekend!

nem

[Berniethebolt]

Re: Legal clause for selling, assigning, or transferring account to third party

Hi
Maybe you should send a CCA request, that way they must send you the terms and conditions or it is non compliant

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

Hi
Maybe you should send a CCA request, that way they must send you the terms and conditions or it is non compliant

CCA request has been done and a response received.:tung:

nem

[Berniethebolt]

Re: Legal clause for selling, assigning, or transferring account to third party

CCA request has been done and a response received.:tung:

nem

I see, Highwire said they had sent a prove it letter which is not a CCA request.

Highwire, could you confirm that you sent a CCA request as without a compliant response they can not enforce

[nemesis45]

Re: Legal clause for selling, assigning, or transferring account to third party

I see, Highwire said they had sent a prove it letter which is not a CCA request.

Highwire, could you confirm that you sent a CCA request as without a compliant response they can not enforce

He still has an agreement provided we await Highwires opportunity to post up what he has received until then no comment or decision can be made unit we see exactly what has been provided.

And as you will see from the thread title sale/assignment of the account is what is being questioned.

[Berniethebolt]

Re: Legal clause for selling, assigning, or transferring account to third party

He still has an agreement provided we await Highwires opportunity to post up what he has received until then no comment or decision can be made unit we see exactly what has been provided.

And as you will see from the thread title sale/assignment of the account is what is being questioned.

Exactly why the terms and conditions are needed to see if it is allowable . Indeed we need to wait to hear from HW.
I am glad that you have conceded that we do not know if a cca request was sent . As my old man was fond of saying before jumping in and commenting "read, mark, learn and inwardly digest"