Jump to content

You can now change your notification sounds by going to this link https://www.consumeractiongroup.co.uk/index.php?/&app=soundboard&module=soundboard&controller=managesounds

 

You can find a library of free notification sounds in several places on the Internet. Here's one which has a very large selection https://notificationsounds.com/notification-sounds

 

 

BankFodder BankFodder

 

BankFodder BankFodder


robnfc

contract wording

style="text-align:center;"> Please note that this topic has not had any new posts for the last 3992 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

may seem trivial but after learning how important the wording of a contract is i was just wondering :

 

when a contract says that if you default on payment, the account may be passed to a debt collection agency or sold to a third party.

 

does the wording debt collection agency OR sold to a third party thorectially mean that a company can only pass the account to a DCA or to a CRA and not both.

 

if the wording was AND then fair enough but most contracts state OR and not AND

 

i.e pass to a DCA but not to a CRA and the other way wrong

 

like i say trivial but alot of contracts rely on exact wording.

Share this post


Link to post
Share on other sites

Creditors don't pass accounts to Credit Reference Agencies. They may pass information about the account to CRAs for filing on your credit reports but CRAs have nothing to do with the actual account itself.

Share this post


Link to post
Share on other sites

oh yeah , but I cant see anything that states that if passed to a DCA or third party that they are allowed to pass on info to a CRA , surely selling an account to a DCA doesnt give the DCA an automatic right to pass your info to a CRA

Share this post


Link to post
Share on other sites

It depends on the type of assignment. If the debt is sold by absolute assignment ie the rights and duties of the creditor have been sold to a DCA, then the DCA does have a legal right to pass information to the CRAs.

Share this post


Link to post
Share on other sites

wouldnt that then mean that the original contract is then cancelled

Share this post


Link to post
Share on other sites

No - the original account is the one that is sold to the DCA.

Share this post


Link to post
Share on other sites

but if they then pass your details to a cra arent they giving info on a product or contract that they didnt provide , and also i didnt think you could simply sell a contract

Share this post


Link to post
Share on other sites

Financial institutions sell agreements all the time and there is a huge debt purchasing industry. DCAs didn't provide the credit but they purchase the debt and with it goes the right to pass info to the CRAs where there is an enforceable agreement.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...