Help...Should I CCA...did owe £90k??

[summerbreeze]

being carefull

Edited May 19, 2009 by summerbreeze

[WelshMam2009]

so the OC has sent you a DN for an agreement it no longer has with you?

 

tread carefully here because that might be a hollow victory- wait and see what happens next

 

Why a hollow victory Diddy?? In my case the account number would have been incorrect I guess. However, as this was sold prior to the remedy date for the DN, isn't this unlawful rescission?? (Assuming termination.)

[diddydicky]

well m y thinking is that if the oc has (legitimately) sold the debt

 

then issuing a DN might be a stupid thing to do but all you have at the end of it is a stupid OC issuing a DN for an account that no longer exists- i cant see that you can use that to your advantage n with regard to the debt itself which is now owned by someone else

 

i am not a lawyer and stand to be corrected but thats how i see it froma common sense aspect

[WelshMam2009]

well m y thinking is that if the oc has (legitimately) sold the debt

 

then issuing a DN might be a stupid thing to do but all you have at the end of it is a stupid OC issuing a DN for an account that no longer exists- i cant see that you can use that to your advantage n with regard to the debt itself which is now owned by someone else

 

i am not a lawyer and stand to be corrected but thats how i see it froma common sense aspect

 

No please, I appreciate your comments!!

 

Actually the notice I got for selling the debt, from MBNA was for a new account number which I presume is the charge off account...lets call it Account B....this is where the money is!!

 

No DN was issued for Account B.

 

A DN was issued for the original account number, Account A. However, the balance of Account A was zero at the time the DN was issued.

 

DLC who bought the account refer to it as Account A. But, I have not received a notice to say that Account A has been sold.

 

Phew...hope this clarifies things...if only for me!!

 

Perhaps I'm just splitting hairs and a Judge will think of this as being de minimus!!

[summerbreeze]

Hi WM

Feeling a bit wobbly about this .

Edited May 19, 2009 by summerbreeze

[WelshMam2009]

Hi WM

I have posted a note on the tale of a dodgy DN thread and hope to get some input

Feeling a bit wobbly about this .

 

Please don't SB...if you track back through my earlier posts you will see that I had a wobbly too when I first received the letter from MBNA.

 

Strangely, it really doesn't bother me now. I think we all have images of DCA's as being loan sharks likely to turn up on your doorstep with a baseball bat!! It's been almost a month now and I haven't even had a telephone call from them.

 

Just relax...I tend to think that MBNA are cherry picking which accounts to fight with Restons and are selling on their dodgier older accounts. So, it might actually be a positive sign also!!

[underdog13]

Tend to agree WM, if the OC thought they had a chance I would think that they would pursue it through the courts.

 

If they've got one they know is dodgy, why not get shot of it and flog it to a DCA?

 

There is also a train of thought that their decision on whether to take legal action may be linked to the equity in your property.....

[summerbreeze]

ditto

Edited May 19, 2009 by summerbreeze

[underdog13]

They told me they would default me and sell my card debt on, but they passed it to Restons instead.

[WelshMam2009]

They told me they would default me and sell my card debt on, but they passed it to Restons instead.

 

They must have some generic form of business risk assessment to determine which agreements they are going to keep and which they will sell on...I don't think it's a lottery in that regard.

[underdog13]

They must have some generic form of business risk assessment to determine which agreements they are going to keep and which they will sell on...I don't think it's a lottery in that regard.

 

Quite agree, WM - which makes my position being passed to the sols rather worrying:(

[summerbreeze]

Quite agree, WM - which makes my position being passed to the sols rather worrying:(

 

I wonder if they look at your credit file to see if anyone else is after your money or house checking for defaults etc. and decide whether its worth pusuing you through the courts

[WelshMam2009]

Quite agree, WM - which makes my position being passed to the sols rather worrying:(

 

 

Ooops..sorry UD..I didn't mean to upset you!! :oops:

 

Have you read this post?? Mr Happy was in court yesterday with MBNA / Restons and this might cheer you up!!

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/163425-re-me-mbna-court-8.html#post2176392

[WelshMam2009]

I wonder if they look at your credit file to see if anyone else is after your money or house checking for defaults etc. and decide whether its worth pusuing you through the courts

 

As a minimum they will be assessing your total debt I guess and also, how far in arrears you are with your other creditors.

 

A mortgage infers ownership and will also influence them I suppose, although, we are returning to the days of negative equity, so nothing's cut and dried there. You can get crude house values from sites such as Zoopla so they don't have to do much research in that respect...just deduct your o/s mortgage from the valuation and hey presto!!

[underdog13]

Don't worry WM, you haven't upset me - I'd already drawn the same conclusion you did;) I'll just have to fight whatever they throw at me as well as I can - that's all any of us can do really.

 

Thanks for the link; that gives a bit of encouragement.

 

Summerbreeze, plenty of people are after my money, lol. Plenty of defaults too

[diddydicky]

i might be wrong but i'm pretty sure they do not have access via credit referenced agencies (or anywhere else for that matter) as to your mortgage balance!

[diddydicky]

welshman, with regard to protecting your home (your earlier posts)

 

if of course you helpful parents have in the past helped you out with say a loan of 25,000 or something to assist you- might it not be a good idea to let them take a second charge on your home to cover their loan and the accruing interest!!

[underdog13]

i might be wrong but i'm pretty sure they do not have access via credit referenced agencies (or anywhere else for that matter) as to your mortgage balance!

 

I think they look it up on the land registery

[diddydicky]

land registry only have details of who the mortgage is with - not the amount the repayments or the balance outstanding

[underdog13]

welshman, with regard to protecting your home (your earlier posts)

 

if of course you helpful parents have in the past helped you out with say a loan of 25,000 or something to assist you- might it not be a good idea to let them take a second charge on your home to cover their loan and the accruing interest!!

 

I was wondering about that too - any idea how it's done?

[underdog13]

land registry only have details of who the mortgage is with - not the amount the repayments or the balance outstanding

 

Hmmm, wonder how the sneaky B's find out about the mortgage amount owing, then?

[diddydicky]

well, years ago when i was having a few probs my mum loaned me some money

 

 

just get them to obtain the form from the land registry for a 2nd charge (probably can download it) and complete it

 

simples

 

(the quicker the better and BEFORE any action starts)

[diddydicky]

wasnt aware they did underdog but nothing surprises me anymore

[underdog13]

Superb, thanks for that DD:D Off to have a look at Land Registry site...

[underdog13]

wasnt aware they did underdog but nothing surprises me anymore

 

Me either, DD - maybe they've got their own little team of psychics gazing into crystal balls, too:lol: