Deed of Assignment

[Mr mmmm]

Hi there

Just received a letter from a DCA called Asset recoveries ltd telling me that they are recovering a debt which was assigned by northern rock to fairmile recoveries llp. With it was a letter from northern rock saying that they had sold by way of absolute assignment all interest in my account to fairmile recoveries. Does that mean they have sold the debt to fairmile? Is it worth CCAing fairmile?

What is a deed of assignment? Should i just pay, i have no qualms about the debt and i do acknowledge it.

Thanks

[tomterm8]

Originally Posted by Mr mmmm

Hi there

Just received a letter from a DCA called Asset recoveries ltd telling me that they are recovering a debt which was assigned by northern rock to fairmile recoveries llp. With it was a letter from northern rock saying that they had sold by way of absolute assignment all interest in my account to fairmile recoveries. Does that mean they have sold the debt to fairmile? Is it worth CCAing fairmile?

What is a deed of assignment? Should i just pay, i have no qualms about the debt and i do acknowledge it.

Thanks

If you have no qualms about the debt, and you can pay it, i would write to fairmile recoveries and enquire if they are the owners of the debt, and ask them what settlement figures or terms they will offer.

[Imagination75]

Three years ago I settled a mortgage debt with Northern Rock with the help of the CAB. At the time my mental and physical health would not support an application for any type of meaningful job, (more or less the same today) so they eventually asked for £500 in full and final settlement. The letter from their solicitors on 29th April 2004 confirmed that:

"Accordingly, subject to you signing and returning to us the enclosed form, we confirm on behalf of Northern Rock plc, that you have paid the sum of £500 in Full and Final Settlement of all claims that the Northern Rock plc may have against you in respect of your personal liability to repay the Mortgage Account specified above."

Going on to say: "May we take this opportunity to thank you for your co-operation in bringing this matter to a mutually satisfactory conclusion."

Needless to say, the form was duly sent back to the bank via their solicitors. The form was one of those that was signed to end any claims from my end, there being debate over some personal valuables that I was unable to recover from the house before it was repossessed.

Then I today receive this letter from Asset Recoveries asking me for £30k, and one from Northern Rock in the same envelope stating that the debt (as of 30th November 2006) has been sold to this recovery company.

Rather than give voice to my own suspicions, I will let you draw your own conclusions.

Many thanks

[yaffsimone1]

Originally Posted by Mr mmmm

Hi there

Just received a letter from a DCA called Asset recoveries ltd telling me that they are recovering a debt which was assigned by northern rock to fairmile recoveries llp. With it was a letter from northern rock saying that they had sold by way of absolute assignment all interest in my account to fairmile recoveries. Does that mean they have sold the debt to fairmile? Is it worth CCAing fairmile?

What is a deed of assignment? Should i just pay, i have no qualms about the debt and i do acknowledge it.

Thanks

There is no point in sending a CCA request at this point if you do not dispute the debt.

[Jason Toulmin]

Hi Mr mmmm and Imagination 75,

Ok, I received correspondance from the same company with respect to the same mortgage company as both of you (my debt also sold 30th November 2006!!!) within the last week.
Is this weird or have this company gone and bought a whole load of debt from the Northern Rock and is now chasing everyone at once!?!?
Please read my thread called "DCA approach after 5 years" and read the letter I received. Is it the same??
Thanks.

[PriorityOne]

Originally Posted by Imagination75

"Accordingly, subject to you signing and returning to us the enclosed form, we confirm on behalf of Northern Rock plc, that you have paid the sum of £500 in Full and Final Settlement of all claims that the Northern Rock plc may have against you in respect of your personal liability to repay the Mortgage Account specified above."

Going on to say: "May we take this opportunity to thank you for your co-operation in bringing this matter to a mutually satisfactory conclusion."

As you have quoted from the letter... I assume that you still have it. If your offer was accepted in Full & Final settlement, then that's the end of it. It sounds as if Northern Rock's solicitors were slack in passing this info. to Northern Rock.... or NR haven't filed their info. away properly. In any case, no-one should be pursuing you for anything.

A suggested letter to the DCA would be :

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY.

With reference to your letter of xx/xx/2007, a full and final settlement was accepted by ????? on xx/xx/2007 which ended my lilability with Northern Rock

Yours faithfully/sincerely.



(Attach copy confirmation of the letter you mentioned and send by rec. delivery).

[rory32]

Completely agree with PO. Jason it might be worth your while pming Imagination75 to find out how this full and final was reached.

[Imagination75]

Originally Posted by Jason Toulmin

Hi Mr mmmm and Imagination 75,

Ok, I received correspondance from the same company with respect to the same mortgage company as both of you (my debt also sold 30th November 2006!!!) within the last week.
Is this weird or have this company gone and bought a whole load of debt from the Northern Rock and is now chasing everyone at once!?!?
Please read my thread called "DCA approach after 5 years" and read the letter I received. Is it the same??
Thanks.

Your situation was almost identical, except that my mind had gone for a wander while I was supposed to be working to pay the mortgage. The letters are both dated 15th June, referring to a balance as at 30th November 2006. This balance does not reflect the monies passed on to the Bank by their solicitors. It is also clear from their correspondence that Henderson's were fully empowered to act for them.

[Imagination75]

Originally Posted by PriorityOne

As you have quoted from the letter... I assume that you still have it. If your offer was accepted in Full & Final settlement, then that's the end of it. It sounds as if Northern Rock's solicitors were slack in passing this info. to Northern Rock.... or NR haven't filed their info. away properly. In any case, no-one should be pursuing you for anything.

A suggested letter to the DCA would be :

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY.

With reference to your letter of xx/xx/2007, a full and final settlement was accepted by ????? on xx/xx/2007 which ended my lilability with Northern Rock

Yours faithfully/sincerely.



(Attach copy confirmation of the letter you mentioned and send by rec. delivery).

Thank you. That was about the same as my intention, and i am glad of the wording.

I will do this on Sunday when I have calmed down a bit!

[Jason Toulmin]

Originally Posted by Imagination75

Your situation was almost identical, except that my mind had gone for a wander while I was supposed to be working to pay the mortgage. The letters are both dated 15th June, referring to a balance as at 30th November 2006. This balance does not reflect the monies passed on to the Bank by their solicitors. It is also clear from their correspondence that Henderson's were fully empowered to act for them.

My letters also dated 15th of June, unfortunately I have no agreement. Out of curiosity how much did you have outstanding on your mortgage, if you dont mind me knowing. Also, how did you finally get them to agree to settle at £500.
Thanks.

[PriorityOne]

Originally Posted by Imagination75

Thank you. That was about the same as my intention, and i am glad of the wording.

I will do this on Sunday when I have calmed down a bit!

No problem... .

Keep hold of that Full & Final settlement confirmation letter for the rest of your LIFE !! I have one from several years ago.... yet found the name of the mortgage company snooping around my credit files as recently as last year.

[Imagination75]

Originally Posted by Jason Toulmin

My letters also dated 15th of June, unfortunately I have no agreement. Out of curiosity how much did you have outstanding on your mortgage, if you dont mind me knowing. Also, how did you finally get them to agree to settle at £500.
Thanks.

I went to the Citizen's Advice Bureau. At the time, I was on income support with an incapacity supplement, gradually recovering from my breakdown in November 2002.

My house was repossessed in April 2002.

In early 2004, I could have declared myself bankrupt for £250 with no court fees, so this was the offer that the CAB made on my behalf. Probably knowing that the 2004 budget raised the bankruptcy charge to £500, they accepted that. They got £500 instead of nothing. I already had the bankruptcy paperwork from the court, and was quite prepared to do it. I still would, if push came to shove.

[rory32]

I have one from several years ago.... yet found the name of the mortgage company snooping around my credit files as recently as last year.

One would never like to accuse them of being underhand, but what else could one say?

[PriorityOne]

Originally Posted by rory32

One would never like to accuse them of being underhand, but what else could one say?

Hmmmm.... . I did wonder if they were trying to find an associated address for the ex-husband though.... because they didn't make contact, despite their snooping. In fact, I've not heard from them for nearly 8 years....

[rory32]

Does you ex still owe them money PO?