118118 loan sold to Perch Capital

[Mrsrangy]

I had a loan with 118 ,

I made a irresponsible/ unaffordable lending complaint against them which they upheld and reduced the balance by taking the interest off.

I paid two payments to them since as they requested and a balance of £650 still stands ,

today I have received a letter saying the debt has been bought by perch capital .

Can they do this and is the credit agreement enforceable?

[Bazooka Boo]

Yes they can do this.

 

When did you take this out and how?

[dx100uk]

have you moved since taking this loan out and not informed 118118 or perch in writing of your new address?

dx

[Mrsrangy]

The loan was taken out last year I thought they could sell it on but I’m still not sure if credit agreement I signed would stand up in court as they have admitted selling me this loan irresponsibly.

@dx100uk No still in the same address why do you ask this it does not show any relevance to my original post.

[dx100uk]

because if you had moved you would need to write to them as they could go for a backdoor CCJ.

as it is you've received simply a notice of assignment i guess that 118118 has sold it on, interesting they've done this and sold it off for 10p=£1, when they could have gotten the whole amount from you eventfully via the signed agreement.

so no need to enter into pointless letter tennis yet until/unless you ever get a letter of clim from perch's favourite dog solicitor TM Legal.

the IRL win doesn't negate the signed agreement no.

dx

 

 

[London1971]

Seems like good news they sold it on, it might be months, years or never before you receive a claim form. Just Keep opening your mail, and come back here if it''s a claim form.  

Now it's sold on don't pay them anything, it will make zero difference to your credit, and you will keep setting the statute barred clock each time you make a payment.