what is "Letter of assignment", what it must contain and who regulate it

[curtainriser]

Hi

 

I requested a letter of assignment with the cca request and £1, a while ago to a dca but I received only a letter of introduction

from the DCA containing a statement " XXX BANK LTD " has assigned

to DCA the full outstanding amount balance ..."

 

Not logo from the XXX BANK LTD i.e original creditor and not signature from the original creditor either.

 

Can this be considered a letter of assigment because I have other different DCA sent letter of assigment containing signature from the previous creditor

 

Can anybody inform me, can just a DCA letter of introduction be considered a letter of assigment and how the law of property defines a letter of assignment??? and where it is stated??

 

Also can an assignee start chasing a debt before the debtor receive the letter of asignment from the assginor???

 

Any help please!!!..

This DCA IS JUST WASITING MY TIME!!!

 

Thanks

CR

Edited April 3, 2009 by curtainriser

[curtainriser]

I jus found this from thsi link:

 

Debt collection: Recovering the debt through third parties

 

and it says:

 

"

Assignment

Some companies specialise in debt recovery and can be 'sold' your debt in order to recover it on your behalf. They may charge a fixed fee or take a percentage of the money they recover. When this occurs you will be assigning the debt.

If a debt is assigned, the Debtor must be told of the Assignment and to whom they should now pay the money. If they are not told about the Assignment and pay the Assignor, the debt will be discharged.

Notice of Assignment

Other than telling the Debtor that the debt has been assigned, there are no other formalities required. However, it is prudent to record the Assignment in writing and give the notice by letter. It is also advisable to have the signature of the Assignor witnessed by an independent witness who should add their name, address and occupation.

The money paid to the Assignor should be an exact, defined amount; for example £1023.50 (i.e. not a percentage of a whole, or a vague value). However, if it is not a definite sum, the Assignment will still be enforceable but the enforcement will be complicated by the Assignee having to sue both the Assignor as well as the Debtor.

The letter telling the Debtor of the Assignment must be sent to their current address. The letter should be sent in duplicate with one copy containing a receipt for the Debtor to sign and return. To assist the Debtor, a stamped address envelope ought to be enclosed. If the Debtor does not acknowledge receipt of the letter telling them of the Assignment, it may be that they have not received the letter. A useful precaution to ensure that the Debtor has received the letter is to send it by recorded delivery post and request a receipt. The Assignee must find the Debtor and tell them of the Assignment or risk the Debtor discharging the Debt by paying the Assignor.

 

 

"

 

 

Any ideas and what the law of property say????

 

 

Any help please!!!

 

 

Thanks

CR

[curtainriser]

Hi

 

also found this

 

"People need to find out if these debt collectors have bought the debt or are collecting agents for the creditor. Unless the original creditor ( assignor ) has given you a notice of assignment - S136. Law of Property Act 1925 - then any debt sold to one of these collectors is not enforceable until the assignor does so."

 

any ideas???

 

CR

[curtainriser]

ALso found this

The modern law of contract

 

By Richard Ston

 

link

 

The modern law of contract - Google Book Search

 

"

[curtainriser]

also from this link

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/170935-dcas-law-property-act.html

 

"

136. Legal assignments of things in action.- (1) Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which express notice in writing has been given to the debtor, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice-

(a) the legal right to such debt or thing in action;

(b) all legal and other remedies for the same; and

© the power to give a good discharge for the same without the concurrence of the assignor:

 

Provided that, if the debtor, trustee or other person liable in respect of such debt or thing in action has notice-

(a) that the assignment is disputed by the assignor or any person claiming under him; or

(b) of any other opposing or conflicting claims to such debt or thing in action; he may, if he thinks fit, either call upon the persons making claim thereto to interplead concerning the same, or pay the debt or other thing in action into court under the provisions of the Trustee Act, 1925.

 

‘Interplead’: to go to trial to resolve which of several claimants has the right to claim money or property held by a third party

"

[curtainriser]

also from this link

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/170935-dcas-law-property-act.html

 

"

Re: DCA's and the Law of Property Act I'm not even convinced a DCA (on thier own) can take you to court if they buy a debt under the LoP Act 1925...Read this;

 

However, there is one very important procedural consequence which attaches to the distinction. A statutory assignee can sue without joining the assignor as a party to the action, whereas an equitable assignee often (although not always) cannot do this. Furthermore, a statutory assignment passes a legal right to the assignee, an equitable assignment passes only an equitable right.

 

So, in this case, when they buy a debt and if they want to collect the interest as well, the assignment has to be absolute. If the assignment is absolute, they are bound by the CCA, because of the CCA the rights and duties are assigned. A duty is not an obligation, as an obligation is a possible financial loss, whereas as a duty is to comply with the CCA.

"

[ODC]

The notice of Assignment must be served on the alleged debtor by registered post or recorded delivery

[curtainriser]

The notice of Assignment must be served on the alleged debtor by registered post or recorded delivery

 

But if not received by the debtor!!! then either show proof of delivery or

send it again??