Lets get Brussels to do something useful - OUTLAW THE SELLING ON OF DEBTS to 3rd parties

[jimbo45]

Hi there

While none of us enjoy getting into debt and its often not our own fault either it's the VILE, STINKING and often "quasi legal" methods of attempted collection by DCA's that I suspect really irritate people beyond measure.

 

These DCA's generally only exist because they bought debts often for pennies in the pound and they operate on SHEER GREED thinking its an easy way to make money whatever the consequences.

 

In a lot of EU countries this practice is ILLEGAL -- Debts must be dealt with either by the OC or an agent acting on the OC's behalf.

 

You can't get companies like CL Finance, Capquest etc etc "buying debts" and hounding people to death.

 

Outlawing the selling on of Consumer Debt should be enforced throughout the EU -- this would be one law that the EU commission could easily pass and it would undoubtedly get massive popular appeal too as well as putting some of the nastier companies such as Capquest and solicitors such as RESTONS permanently OUT OF BUSINESS.

 

Cheers

jimbo

[sillygirl1]

I think the whole debt buying and selling concept should be scrapped. If a debt is sold the purchaser can ONLY collect on the arrears, not the whole amount, and the original creditor is the person who is responsible for marking credit files .... if this was brought in the whole lot would collapse...

 

By holding the original creditor to the main responsibility of marking CRA files you have taken away a major threat, which is frequently misused.

 

In fact we need to have the CRAs bought to task and only hold data for three years, regardless of whether the account is closed or not.... that way the country would be out of debt a lot quicker....

[oilyrag]

Added to this should be the Statute Barring of all debt after three years, which seems to apply across most EU countries. We are all forced to be European citizens, my passport says so, hence why cannot we have the same benefits? Another high horse, sorry.

 

regards

oilyrag

[themagician]

so whats the practicality of this action being taken ???

[sillygirl1]

I can put in a petiton on the government website stating

 

"Only an original creditor can place a mark on your credit files, no third party can place any kind of record there."

 

If I get 500 votes the government will look at it.

 

I did this last year and had 300 votes before the then government closed the website, I am sure if I stuck this on Facebook we would pull in loads of votes.

[dadofholly]

I can put in a petiton on the government website stating

 

"Only an original creditor can place a mark on your credit files, no third party can place any kind of record there."

 

If I get 500 votes the government will look at it.

 

I did this last year and had 300 votes before the then government closed the website, I am sure if I stuck this on Facebook we would pull in loads of votes.

 

Sounds like a great idea and good place to start - and the more people link to it the better.

 

I think people will be especially receptive to this kind of thing with the current economic climate.

 

"A march of a thousand miles begins with a single step"

[jimbo45]

Hi there

CRA's also need to have transparency -- if Credit say is refused NO ONE is ever given details of WHY a refusal has been given and it's also impossible to challenge as they say "This data and the credit scoring is CONFIDENTIAL".

 

This whole type of stuff needs to be busted open too.

 

If I am summonsed there at least is a reason on the summons as to WHY I am being summonsed so you can argue the case but the CRA's seem to be ABOVE the law --no reasons or explanations so how can you mount a challenge.

 

Anyway I'm sure this whole STINKING CESSPIT of DCA's etc isn't long for this world --it's a bad business model and thanks to sites like CAG most people can now fight back too.

 

It's actually worth pursuing this one BTW --apart from the dubious moral issues of debt buying and selling at least we can get rid of the real rogues who just prey on people's ignorance --such as the notorious Bryan Carter who I believe is a well known "friend" to seasoned caggers.

 

Cheers

jimbo

Edited December 1, 2010 by jimbo45

[sillygirl1]

When you do these petitions you need to make sure you have NO loopholes when it comes to them being part of legislation, so simply stating CRAs should be banned (which they effing well should be) isn't good enough, that's why

 

"Only the original creditor can place a mark of any kind on your CRA files" is simple enough for anyone to understand and gives them no leeway.

 

I will put that up today and see how long before they approve it - at least it is a step in the right direction.

 

We HAVE to be able to stop every Tom, Dick or Harry in the DCA world marking our files incorrectly, then blaming the original creditor, then stating THEY are the original creditor when it suits them.

[Lemmein]

Hell yeah... lets make a move!

[dadofholly]

When you do these petitions you need to make sure you have NO loopholes when it comes to them being part of legislation, so simply stating CRAs should be banned (which they effing well should be) isn't good enough, that's why

 

"Only the original creditor can place a mark of any kind on your CRA files" is simple enough for anyone to understand and gives them no leeway.

 

I will put that up today and see how long before they approve it - at least it is a step in the right direction.

 

We HAVE to be able to stop every Tom, Dick or Harry in the DCA world marking our files incorrectly, then blaming the original creditor, then stating THEY are the original creditor when it suits them.

 

Hi SG

 

Any update on this?

How long do they normaly take to set up - any idea?

[beachcomber60]

With you all the way Sillygirl

 

Two signatures to a petition from this end.

 

Beachy

[nicklea]

In a lot of EU countries this practice is ILLEGAL -- Debts must be dealt with either by the OC or an agent acting on the OC's behalf.

 

I believe that you are not correct on this point.

 

I know that debts can certainly be assigned in France, Belgium, The Netherlands, Germany and Italy.

 

I'm not sure about other EU countries however I would be surprised if it was unlawful.

 

Do you have any examples of these lots of EU countries?