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

[nemesis45]

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

Oh sorry FP, I meant the clause/term necessary to permit the sale/assignment of the account? I've been told that without this prescribed term, the agreement will be unenforceable?

This is usually in the declaration/ signature box area of an agreement and may not I think be in the main Ts & Cs looking at a catalogue agreement I have here it is in the Dec/sig box but not in the main body of the Ts & C's as far as I can see on this poor photo copy.

nem

[highwire]

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

This is usually in the declaration/ signature box area of an agreement and may not I think be in the main Ts & Cs looking at a catalogue agreement I have here it is in the Dec/sig box but not in the main body of the Ts & C's as far as I can see on this poor photo copy.

nem

From most of the payday loan agreements I have, it's a specific term in the T&Cs. Only thing is, there are no T&Cs with this agreement. They have never been supplied by either the OC or new owner.

I just need to know what under which law this term is required for them to bring a claim against me.

[nemesis45]

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

From most of the payday loan agreements I have, it's a specific term in the T&Cs. Only thing is, there are no T&Cs with this agreement. They have never been supplied by either the OC or new owner.

I just need to know what under which law this term is required for them to bring a claim against me.

What have done to try and get Ts & Cs my feeling is they have never been provide from the start the debt is unenforceable anyway
I would I think depend on how the " new owner" acquired the account was it an assimilation of the assets of the original owner or was
there actually a legal sale of the debt under the provisions of the Law of Property Act 1925.

nem

[Berniethebolt]

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

As I am sure you know , with a PDL most of it is done online so proving that there were no T&C's seen or available at inception is going to be difficult to say the least.

The NOA says it has been sold under LPA

[highwire]

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

As I am sure you know , with a PDL most of it is done online so proving that there were no T&C's seen or available at inception is going to be difficult to say the least.

The NOA says it has been sold under LPA

The DCA hasn't even mentioned the T&Cs. I say they don't exist, thus unenforceable. If they say otherwise, the burden of proof lies with them, right? Also I read that [MENTION=551]pt2537[/MENTION] recently won a case where the T&C's of a credit agreement were non-compliant/missing...

[nemesis45]

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

The DCA hasn't even mentioned the T&Cs. I say they don't exist, thus unenforceable. If they say otherwise, the burden of proof lies with them, right?

Absolutely!
Do you know if Ts & C's are available to download at the time of application?

nem

[FlamingParrot]

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

From most of the payday loan agreements I have, it's a specific term in the T&Cs. Only thing is, there are no T&Cs with this agreement. They have never been supplied by either the OC or new owner.

Lack of compliance with a request under ss.77-79 of the CCA is a bar to enforcement while the breach remains and if they've not provided you with the original terms from inception then they cannot enforce the account as they wouldn't have satisfied your request to start with.

If you haven't got the terms you wouldn't be able to argue about the sale of the account since you don't know whether there was such a term or what the wording was to start with. :ohwell:

I just need to know what under which law this term is required for them to bring a claim against me.

Assignment is dealt with by the Law of Property Act.

As I am sure you know , with a PDL most of it is done online so proving that there were no T&C's seen or available at inception is going to be difficult to say the least.

The NOA says it has been sold under LPA

Yes, it would be and it wouldn't do much good as post-April 2007 the court would have discretion to enforce even without an agreement with all the prescribe terms at inception due to the repeal of s.127(3).

- - - Updated - - -

The DCA hasn't even mentioned the T&Cs. I say they don't exist, thus unenforceable. If they say otherwise, the burden of proof lies with them, right?

That's precisely what I said above. :thumb:

[highwire]

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

Absolutely!
Do you know if Ts & C's are available to download at the time of application?

nem

I'm afraid I have no idea. The OC website was amateur at best. In fact, I'm sure it was just a wordpress site! I wasn't of sound mind when I took out these loans which is another whole can of worms!

[nemesis45]

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

I'm afraid I have no idea. The OC website was amateur at best. In fact, I'm sure it was just a wordpress site! I wasn't of sound mind when I took out these loans which is another whole can of worms!

Just trying to cover all possibilities on the unenforceability HW perhaps someone who has seen/had experience of getting Ts & Cs' in a similar situation will be able to assist.

nem

[Berniethebolt]

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

I can't talk about this company BUT I can tell you that some companies emailed them and some companies made you tick to say you had seen them.
This is in my opinion the problem with online applications and particularly PDL's-almost anyone could get a loan at the time didn't matter on credit history , ability to pay, state of mind . I have rad some horror stories on other forums of people who took out payday loans and gambled or gave the money away within hours. I think one of the was called xxxxxxxxx although I may be wrong she is certainly a recovering addict.

I do think at this point a CCA request may well be in order

[nemesis45]

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

Yes I know a forum user called " silly girl " from another site had many conversations with
her over her "one size fits all " for defence to PDL court claims.
Is it fair to refer to this person in this fashion I think not.

[Berniethebolt]

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

Yes I know a forum user called " xxxxxx " from another site had many conversations with
her over her "one size fits all " for defence to PDL court claims.
Is it fair to refer to this person in this fashion I think not.

I am only repeating what she herself has posted on the open forum having never had a conversation with her . I am not judging her, everyone has demons the first step being confessing to them however I will remove her name. I do seem to remember some of her ideas were in my opinion a little left field, loan + 1 months interest if I am correct although that may have been someone else.
If you feel strongly can I ask you to follow my lead and remove her name

[FlamingParrot]

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

I am only repeating what she herself has posted on the open forum having never had a conversation with her . I am not judging her, everyone has demons the first step being confessing to them however I will remove her name. I do seem to remember some of her ideas were in my opinion a little left field, loan + 1 months interest if I am correct although that may have been someone else.

That seemed to be a bit of an 'urban myth' going around on that site a few years ago, I'm sure there were a few posters on there saying that, probably just copying each other, but no-one was able to come up with any legal grounds to support that argument. :confused2:

[Berniethebolt]

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

That seemed to be a bit of an 'urban myth' going around on that site a few years ago, I'm sure there were a few posters on there saying that, probably just copying each other, but no-one was able to come up with any legal grounds to support that argument. :confused2:

Yes indeed, not one jot of evidence to say that was a valid defence , repeated by many yet explained by non

[highwire]

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

Can someone please clear this up for me once and for all... I have always thought that an original creditor must formally default and terminate an agreement before it can be legally sold/assigned to a third party.

Today I have had another snotty email from my friends at SLL that reads:

"Once again you are mistaken in your thinking that the original creditor has to default your account. We do suggest you do get your facts as it is apparent you seem to think that you know the law when it comes to consumer debt. Please go to the following link which may help guide you.

http://www.csa-uk.com/assets/documents/faq/faqs_consumers.pdf

This is their prerogative whether they defaulted your account or not.

We have sent you our Default notice regarding this account."

Does anyone know the law around this 100% and point me to the legislation I need?