No OC Default then sold onto DCA

[mines a pint]

Can an OC 'sell' a debt onto a dca without issuing a DN?

 

Looking around the forum it seems the majority of OC serve a default notice & terminate accounts before selling debt onto dca's.

 

I have a Store Card debt that has been 'sold' to a dca who has issued their own DN & their solicitor is threatening court action.

 

The OC, when I fell on hard times, withdrew credit facilities and said they would issue a default notice (none was issued & confirmed by CRA search).

 

Did a SAR to the OC & regarding a DN they stated that DN were 'electronically generated' and they dont keep copies, they couldnt confirm the date one was issued but enclosed a template DN as an example.

 

By withdrawing credit facilities would that be considered as 'termination' resulting in the debt being incorrectly sold to a dca as it was not 'live'.

 

Just trying to cover all angles ready for the next step from the dca & solicitors ( both well known on CAG - especially the underhanded tactics of the solicitors by what I've read.

[Undercover-Elsa]

Hi Mines a Pint

As far as I'm aware, they can sell the debt to anyone they want while the account is still active, providing the buyer is licenced to operate in that area of consumer credit.

 

It's more usual to sell after default/termination though.

When was this card taken out, and have you done a CCA Request?

 

Elsa x

PS ...mine's a brandy...

[mines a pint]

 

PS ...mine's a brandy...

 

 

Thanks Elsa,

 

Store Card taken out 1989, yes have done cca request as part of the SAR, the OC stated that due to the age of the account they no longer have the agreement.

 

CCA request to the dca & they provided an unreadable photocopy of a microfiche, their solicitor then informed my of intended court action was then given CPR 31:16 & again provided a bad copy of a microfiche & T&C's which I cannot connect to the agreement.

 

Incidently, I chased the OC for ppi T&C's that applied when I took out the card, they provided some T&C's stating that they were the correct ones BUT looking closely in the bottom corner there was a 'version'date of 2008

I cancelled ppi in 2005.

 

I am sure the dca doesnt have a licence to provide 'revolving credit facilities' & by the OC informing me that facilities had been withdrawn & no longer able to use the card the account couldnt have been live when sold on.

 

Hope this makes sense.

 

MaP

[mines a pint]

Incidently, its Mr Cohen who is threatening & states that just the microfiche + the NoA & a few statements will be enough to secure judgement.

 

MaP

[Rocky Roadster]

Hi mines a pint,

 

Have you checked to see if the account details and terms of agreement match?

My don't and I am sure that must be in my favour.

Good luck,

[mines a pint]

Hi Rocky,

 

Thanks for the pm, sorry I havent had time to reply, will do so later - I have not checked the agreement yet - will do so in the morning.

 

I still feel that by withdrawing credit facilities Santander effectively terminated the account without first issuing a DN so selling it off to a dca was incorrectly done.

 

I also have another query/problem that has just come to light - had an ALERT from Experian and I found that the alert was a change in CL's report, the type of account has changed from 'Credit Card/Store Card' to 'BANK' CL is certainly NOT a bank is it?

 

Also the amount outstanding has changed from £**** to £0 and is marked as 'SETTLED' but then on looking at the actual report itself CL has registered a Default & the balance is £12 more then last time I looked - really confusing.

 

I do have a query if anyone can assist - I intend counterclaim for PPI (I have good reasons) when they issue their court claim - on checking (on what I can read) is that APR for PPI is zero as GE charged **p per £100, does this mean I cannot claim compound interest either at card APR or 8% Statutory (compounded) on each premium paid?

 

Any help/advice would be most welcome.

[DonkeyB]

Santander could have simply reduced your credit limit to zero. That would be in the T&Cs, and would not require a DN.

 

This is becoming more common for accounts handled by Cohen – suggest you trawl the forums for similar cases. There are plenty.

[mines a pint]

Thanks DB,

 

Santander sold it to CL & the full balance showed on my CRA file, after two years of CL 'owning' it they have just updated my CRA file as 'settled' and amount outstanding is £0.

 

Any thought on my query regarding ppi interest?

 

Thanks again

 

MaP

[mines a pint]

D'OH -Posted twice

 

MaP

Edited December 2, 2010 by mines a pint

[mines a pint]

Hope someone can advise on this one, in addition to what i've already posted I've been trawling through the paperwork from my SAR and have found something I am convinced makes the assignment to CL wrong.

 

Firstly in the comms log it shows that the debt was 'sold' to CL * August 2007, however, the NoA obtained from Cohen shows a date of ** August 2008?

 

Furthermore, I have also found a letter from GE quote 'Credit facilities have been withdrawn. Please cut in half and return to us any cards issued to you (and additional cardholders) for this, and any other GE Money accounts that you hold' so surely this confirms 'termination' without a Default Notice being issued first and that as a result it could not have been sold to CL as a LIVE debt?

 

I really value any thoughts on this.

 

MaP

[mines a pint]

Bump