Let's have a social experiment and start our own DCA!

[emandcole]

Hi fellow caggers,

Why don't we get together and start our own debt collection company? Clearly, a review of the threads on this and many similar sites reveals an alarming catalogue of blatant ignorance of all debt collection regulation with many 'authorities' unable or unwilling to get to grips with the issues in hand .

 

Let's be honest - the banks can do whatever they want in the name of capitalism. The government (any government) is generally happy to let the big boys club award themselves all kind of bonuses and pay rises for the good work they do all day long whilst letting them issue court action all over the place to repossess the homes of the belittled taxpayer who are funding the entire sorry mess in the first place. This rot all filters down to the ****** DCA's many of us have to deal with to various extents.

 

So, if we start a DCA between us we can exercise and explore the old saying of "Can't beat them? Then join them".

 

Here's the rub. Where legitimate debt exists and all paperwork and legality is present and correct we collect it but don't treat people like morons and only collect a tiny bit more than we paid for it in order to cover some costs. We also then rectify incorrect credit reference files for those we've been working with and generally do our very best to constructively help the legitimate debtor with their lives .

 

For those with all manner of nonsense debts we (with the knowledge of the alleged debtor) send a total barrage of absolute crap through the post, pictures of horse heads on pillows etc, let your imagination run wild. We could bombard a voluntarily given and unimportant mobile number with 400 calls a day on auto dial up threatening to do all sorts. In short we actively seek to make a total farce of every authoritative body there is and force a change to regulate ourselves which wil then, by default also apply to any and all DCA's in the land.

 

There's lot's of people without work at the moment. How about going to work for the CAG DCA as a volunteer where you can ring your own home number and leave abusive messages to yourself, you too can have a pseudo name and disguise your voice! Feel free to send any number of letters to yourself and willing family members, caggers, friends, your cat or dog and attempt to get through an entire red print cartridge in less than ten A4 letters :grin:.

 

Basically, we do all we can to make such a debarcle of the debt collection industry that by joining them (and helping those out with legitimate and correctly documented debts in the meantime) that the debt collection industry is forced to have legislation changed so that it actually works and fines for bad companies are actually given. We can run the company down at a strategic point, just before huge fines come in for example.

 

Run as a non profit organisation we can probably get started for a very reasonable cost (between all of us) and as a consumer credit licence appears to be given out with Christmas crackers we won't have to wait too long to get it all moving. Anyone up for it and what do you all think ?

[MandM]

What a cracking idea.

 

Should we not open lots of them with just very slightly differnt phone numbers using various names, but ultimately all the same company!

 

And at least a couple of the sub-companies in our group need to have headed paper that suggests that we are solicitors!!!! with direct phone lines into all of the courts in the land - in fact, we are like judges!!

 

Applying for my licence now :D:D

 

M

[jdes26]

hmmm sounds interesting !

[Pinky69]

Firstly, you need finance to buy debts. Secondly, you need trained operators and up-to-date technology. Thirdly, it isn't that easy to get a consumer credit licence. Fourthly, you need to know how to buy a debt portfolio and who is going to sell you one. Fifthly you need to register at Companies House and have a registered premises and company stationary. Fifthly, all the DCAs are right now losing money hand over fist and a hundred other reasons. It's a nice thought but a non-starter.

[barry_2008]

:)you're missing the point of CAG.

ima a can't pay won't pay customer.

[jdes26]

ive managed to get 1900 from mbna

and link still think there gona get there cash

 

think again link losers!!!!!!!!!!!!!!!!!!!!!!!!!!

[PGH7447]

Firstly, you need finance to buy debts. Secondly, you need trained operators and up-to-date technology - well that rules out 90% of the current crop of DCA's then . Thirdly, it isn't that easy to get a consumer credit licence.- you sure 1st credit, crappyquest, lowells, moorcrappy, westscum, robbersway, muckyhall, lewis, clueless finance, and cabot all have one Fourthly, you need to know how to buy a debt portfolio and who is going to sell you one. - OK got me on that one Fifthly you need to register at Companies House and have a registered premises and company stationary.- CAG do envelopes Fifthly again , all the DCAs are right now losing money hand over fist and a hundred other reasons. It's a nice thought but a non-starter.

 

:D

[90DC]

I am going to apply for a Consumer Credit License in the New Year! I know it's off the point but i am going to do high risk loans at a really competitive rate, i will hire a handful of staff, invest a few thousand and i know that if my consumers pay up, i am in for a killing, no dodgy tactics, there's money to be made in it, it's around £900 for a license for a company i think.

[ODC]

So, if we start a DCA between us we can exercise and explore the old saying of "Can't beat them? Then join them".

 

?

 

 

But we CAN beat them. In fact every day of the week they are discovering that the debt they bought for pennies isnt even worth that

[barry_2008]

typical when we are on the CSA's hit list.

 

Any standard contract can be beaten as you have no say in the terms of the contract. Try and get a loan that dose not have a standard contract in it these days its near to impossible unless you borrow off you're family.

 

Any one starting a DCA I will be one of the first to start court claims against you.

Edited December 8, 2009 by barry_2008
Aditional

[angry cat]

But we CAN beat them. In fact every day of the week they are discovering that the debt they bought for pennies isnt even worth that

 

Agree!

[MorganaNK]

Thanks for the giggle! x

[tottys]

please can i join to aint got no money to put in though have started drafting up my letters to send to myself....and am going to look on you tube for some good answer phone messages...

[MandM]

I think we should also set up our own independant body to investigate our own complaints about ourselves.

 

M

[emandcole]

please can i join to aint got no money to put in though have started drafting up my letters to send to myself....and am going to look on you tube for some good answer phone messages...

 

Sure Tottys, how about a director role?

 

MandM - love it. We can investigate ourselves and then do nothing too!

[Deb T]

Here's the rub. Where legitimate debt exists and all paperwork and legality is present and correct we collect it but don't treat people like morons and only collect a tiny bit more than we paid for it in order to cover some costs. We also then rectify incorrect credit reference files for those we've been working with and generally do our very best to constructively help the legitimate debtor with their lives .

 

What a load of old rot, sorry but it is and as a business model it's fundamentally flawed (don't give up that day job now )

 

At least it made me laugh for a while.

[diddydicky]

Firstly, you need finance to buy debts. Secondly, you need trained operators and up-to-date technology. Thirdly, it isn't that easy to get a consumer credit licence. Fourthly, you need to know how to buy a debt portfolio and who is going to sell you one. Fifthly you need to register at Companies House and have a registered premises and company stationary. Fifthly, all the DCAs are right now losing money hand over fist and a hundred other reasons. It's a nice thought but a non-starter.

 

and not least- you have to get yourself discharged from the looney bin:D:D

[Pinky69]

[haggis1984]

Love it!

 

Lol you can apply for a licence online: How to apply for a credit licence - forms and procedures - The Office of Fair Trading

 

Set up a ltd company for a couple hundred quid!

 

We could start off just buying our own 'debts'

[emandcole]

If only it was that easy! Still, we could let the RBS lot handle it for us, they'd do a great job of cacking it all up

[alfwithhair]

Well I will apply for a licence for a laugh

 

ALF (Allien Life Form) RECOVERIES LTD

[diddydicky]

well if we issued lots of dodgy DN's against ourselves then unlawfully repudiated ourselves we could then claim damages of unlawful rescission from ourselves and all get very rich!!

 

we could then default ourselves a second third and fourth time and do it all over again

[haggis1984]

well if we issued lots of dodgy DN's against ourselves then unlawfully repudiated ourselves we could then claim damages of unlawful rescission from ourselves and all get very rich!!

 

we could then default ourselves a second third and fourth time and do it all over again

 

Perhaps we should already be borrowing against this expected windfall!

[emandcole]

Yeah why not, the government will bail us out if it all goes wrong and if they don't we can just stamp our feet and threaten to resign. Then we'll apply for more aid to continue doing our sterling work and get the taxpayer to fund a huge bash in London where we can give ourselves awards.