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JonCris

Debt collectors may unwittingly become involved

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Debt collectors & solicitors may unwittingly become involved in money laundering:|.

Criminals are ‘inventing’ outstanding debts which are then collected (usually in cash) then washed through the accounts of the solicitor or DCA before being paid to the ‘creditor’:eek:

Therefore in order to avoid the very serious charges of money laundering which carries a sentence of up to 14 years both should, as part of their due diligence, ensure they know who their clients are and that the debts are genuine.:)

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Criminals arent the only ones Inventing .....theres another more serious problem we encounter very often on here-the situation of the Debt collector "inventing" ways to recover debts that they are unable to prove are legit.


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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Alot of DCA's act unlawfuly, so that in it's own essence makes them involved.

Not only that but the way debts are sold off and claimed against VAT, then sold to these **** (for pennies in the pound) and these companies (debt collectors) try and claim the full value of the debt back..... surely this is money laundering, or tax evasion at the least ?

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Unfortunately this is rip off Britain that we live in, where the financial establishements run the country by the back door through the power of controlling money.

 

Creditors are renowned for bumping up the interest and charges on delinquent accounts prior to sale to a Debt collector before writing it off to get as much tax back and a higher sale figure. And as some banks also have financial investments/interest in Debt collection firms it's hard to see how it can all be legal.

 

Only banks can legally lend money that they never had. Anyone else trying this would be locked up. I was shocked to read somewhere that the Federal Reserve and Bank of England are privately owned. No wonder we are all in the ****

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Do unto others as you would have done to you (sorry if mis-quoted)

 

Comes to mind;) A very hard principle to live and abide with these days.


Every journey begins with a single step :):)

 

Please note: I have no qualifications in this area - my advice is learned from the wonderful members of this Forum. Thanks to you all for your help.

 

If you have found my post helpful please leave a short message by clicking the star to the left of my profile - Thank You

 

The only person entitled to your Personal Finance details is a Judge not a DCA

 

Move all banking activity to another banking group if you have a dispute - your funds can be used to offset debts within the same group.

Be careful with Banking details (card/account numbers) as these can be used to take unauthorised payments.

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Permit me to issue and control the money of a nation and I care not who makes it's laws!!!

 

Money As Debt

 

This is a great foundation intro into how banks are ripping the unmentionable out of the world. Because it's done in sort of humorous cartoon form even my OH watched it.:D:D

 

Pity the banks don't include this video clip in the 'How to Handle Your Money Training Courses 'they are dishing up to our teeenagers at their schools.

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