partial settlement v full and final

[Tricky Dickie]

Ok, simple way to satisfy yourself, go get a debt, then sell it to the Rankines and simply walk away debt free LOL

 

before I tried that I would like to have some idea of the likely outcome which is presumably why this discussion was started in the first place

[Tricky Dickie]

ok then all we need is to find tramp on the streets of london or any big city ( oh there's one, there's another whoops look there's loads of them ) who has absolutely no assets whatsoever, ignore the clause in every agreement that says the debtor cannot sell or assign the debt and sell him EVERY credit agreement in the country

 

there you go problem solved!!

 

or better still every bankrupt in the country can get a friend with a good credit rating to take out a 10,000 credit card then sell it to him the next day for 10p - problem solved!

 

 

trickie dickie i really am surprised at you!!

 

Not as surprised as I am that no one has actually tackled Rankines proposition and his assertions that there are no laws presently to prevent what he says he can do.

If there are such laws what are they?

[Tricky Dickie]

it is , and its a discussion forum too

 

however, as i see it, its for discussion on topics which have merit which this sell us your debt rubbish doesnt in my opinion

 

So you think that the fact that over 1000 consumers have paid Rankine over a million pounds for something which may or may not be possible is of no consequence?

[tifo]

So you think that the fact that over 1000 consumers have paid Rankine over a million pounds for something which may or may not be possible is of no consequence?

 

and the banks/dca's are still chasing these 1000 customers for their money ...

[pt2537]

So you think that the fact that over 1000 consumers have paid Rankine over a million pounds for something which may or may not be possible is of no consequence?

as i understand it, from the contact i have at Birmingham City Council Trading standards , they are subject to an OFT investigation for taking part in licensable activities without a licence

 

says it all imho

[Tricky Dickie]

Rankines answer to that is that buying debt is not a licensable activity whereas selling it on is and he just buys it he doea not sell it on

[Tricky Dickie]

and the banks/dca's are still chasing these 1000 customers for their money ...

 

 

Rankines answer to that is that he has been 'buying ' debts for 6 months and no lenders have taken legal action yet

[pt2537]

Erm debt purchasing IS Licensable activity clearly, you are buying debt regulated by the CCA 1974.

[pt2537]

well dont forget, under Limitations , they have 6 years to sue and id point out also that, the banks probably wont sue him any way as they will sue the debtor

[Tricky Dickie]

well dont forget, under Limitations , they have 6 years to sue and id point out also that, the banks probably wont sue him any way as they will sue the debtor

 

Well I guess we just have to wait for the OFT and trading standards to come to a conclusion but what takes so long,for six months the guy has been adv ertising on his website and standing in front of 50 people at a time and taking their money.Surely someone from the OFT could have had him charged well before now.

[diddydicky]

Rankines answer to that is that he has been 'buying ' debts for 6 months and no lenders have taken legal action yet

 

well of course the creditors havnt taken any action

 

thats because there is no action to take

 

when their customer defaults they wil chase them and compeltely ignore rankine

[Michael Browne]

How to say f*** o** in 200 words:

Dear Sir,

 

Further to your press release today:

72/09 23 June 2009 OFT warns consumers about 'debt sale' scams

 

 

where the OFT claim that:

 

'The OFT will not hesitate to take swift action against businesses which deliberately mislead consumers.'

 

Could you please tell me what action, if any, the OFT are taking against Basil & Amanda Rankine who run the Credit Card Killer website: Credit Card Killer - Cancel your credit agreements.

 

 

To my knowledge, they have been (and still are) offering to buy credit card, loans, overdrafts and car loans since January 2009

 

 

Thank you for your email to Consumer Direct dated 23/06/09. Your reference number for this case is LR - 520574 and should be quoted in all further correspondence regarding this matter.

 

Based on the information you have provided the key legal points in response to your enquiry are as follows:

 

Consumer Direct is required to remain impartial; as such, we would not be able to disclose specific information about this trader. For further information regarding our remit, please visit the ‘about us’ section of our website, detailed below. However, we can suggest ways in which you would be able to gain this information. One way would be to make a formal request under the Freedom of Information Act (2000), which requires public authorities to disclose certain information on request. If you would like to make a request under this Act, you would need to write to the following address:

 

Consumer Direct London

International House

7 High Street

Ealing

London

W5 5DB

 

You will need to include your own name and contact details, and be clear about the information you are requesting. We aim to respond to requests of this nature within 20 working days.

 

This may be an issue that the Office of Fair Trading (OFT) would like to investigate. The OFT’s job is to watch over consumer markets, and ensure that businesses are acting fairly. The OFT has a role in promoting consumer interests, and so by reporting your comments and experiences to this body you would be able to add to their intelligence. The more complaints about an industry the OFT receive, the more likely it is that they would make the issue a priority. The OFT has access to all cases created by Consumer Direct, and so they will be made aware of this matter also.

 

Misleading information can be considered an offence; as such from the information given, a case has been created and will be passed to the Trading Standards where this trader appears to be based, for their intelligence purposes. If you require any further advice or information about this case, please do not hesitate to contact Consumer Direct on 08454 04 05 06 quoting the case reference number.

 

Thank you for your enquiry.

[Tricky Dickie]

as soon as the borrower 'sells' the debt to Rankine they stop paying and Rankine writes to the lender to tell them he now is responsible for the debt so that there must be some cases where that happened 6 months ago

[Tricky Dickie]

How to say f*** o** in 200 words:

 

 

Yeah,we might get round to doing something one day

[pt2537]

well, i have searched Westlaw, Lawtel, LexisNexis and Justis and there is no mention anywhere of a single case where someone has done what Rankine profess to be able to do,

 

now they claimed to have found something that we had all missed , in fact they said we were all wrong on this very forum and didnt know what we were doing

 

However HHJ Brown QC proved that one was wrong didnt he.

 

so its not the first time they have claimed to have found something exclusive only to be found wrong

[Tricky Dickie]

well, i have searched Westlaw, Lawtel, LexisNexis and Justis and there is no mention anywhere of a single case where someone has done what Rankine profess to be able to do,

 

now they claimed to have found something that we had all missed , in fact they said we were all wrong on this very forum and didnt know what we were doing

 

However HHJ Brown QC proved that one was wrong didnt he.

 

so its not the first time they have claimed to have found something exclusive only to be found wrong

 

Well Rankine said no one had ever tried this before so it looks like he is right about that anyway as he claims to already have taken on 9 million pounds of other peoples debts and racking up more every day so it will be interesting to see what happens.

He apparently guarantees that none of his clients will wind up in court and if they are taken to court by their lender he appoints a solicitor to represent them.

It will be interesting to see what happens.

[diddydicky]

what's probably more important is that he has taken onb xxx peoples fees for a "service" that he cant provide

 

if its a limited company the guarantees are not worth a light are they!

 

so this guy can bring down the finances of the entire western world then can he!!

[Tricky Dickie]

As I understand it he takes on the debts personally rather than using a limited company.

As for him bringing down the finances of the western world I hardly think Rankines help is needed there between the governments and banks they are doing a first class job of that already.

Rankine may be a clown but he has a long way to go before he is in the same league as the clowns who run the government and financial institutions.

Rankine issued a winding up petition to HBOS on the grounds of insolvency 2 years before the government had to bail it out-because it was insolvent.

The judge dismissed the petition without considering it on the grounds that it was clearly preposterous and vexatious.

Just about every major financial institution and government is now technically insolvent and the only reason that the whole system has not collapsed is because they all collude together and 99.9999% of the population can't be bothered to look beyond the spin.

[diddydicky]

As I understand it he takes on the debts personally rather than using a limited company.

As for him bringing down the finances of the western world I hardly think Rankines help is needed there between the governments and banks they are doing a first class job of that already.

Rankine may be a clown but he has a long way to go before he is in the same league as the clowns who run the government and financial institutions.

Rankine issued a winding up petition to HBOS on the grounds of insolvency 2 years before the government had to bail it out-because it was insolvent.

The judge dismissed the petition without considering it on the grounds that it was clearly preposterous and vexatious.

Just about every major financial institution and government is now technically insolvent and the only reason that the whole system has not collapsed is because they all collude together and 99.9999% of the population can't be bothered to look beyond the spin.

 

if he's running this outfit without the security of a limited liability company ill eat my hat and show my arse in burtons window

 

 

its a [problem] and stupid- he aint!!

[pt2537]

if he's running this outfit without the security of a limited liability company ill eat my hat and show my arse in burtons window

 

 

its a [problem] and stupid- he aint!!

you have a fantastic way with words :lol:

[diddydicky]

just found it - credit card killer is a trading name of MOMENTUM NETWORK LTD company number 04489395

[pt2537]

just found it - credit card killer is a trading name of MOMENTUM NETWORK LTD company number 04489395

so at least Burtons can sigh in relief then:lol:

[Kraken1]

discussed elsewhere - this is not possible. This is proven by the absence of any legal argument to show it is.

 

as for why are people paying him? Why do folk reply to Nigerian princes?

[ploni2007]

I went to one of their seminars in London last week. Must have been a few hundred people present, most of whom appeared to be professional mortgage brokers or similar. I would also point out that at least half walked out during the course of the seminar - no doubt due to the rambling on of the speaker. The 2nd half (don't ask me why I stayed that long) was a 'marketing' workshop. Basically, telling professional brokers to go down the pub and leave cards around with your name on, or leaflet drop cards in a road whenever you have an appointment with a client in that road. NOT very professional and veering on cold calling !!! But maybe that is the way they do business in his native Birmingham ! I was speaking to one gentleman who 'transferred' his credit card debt under their scheme a few weeks ago - and received a letter from the credit card basically telling him they did not recognise the transfer.

 

I also spoke to Rankine afterwards, and was struck by his total lack of professionalism, and by his ability to avoid direct answers by rambling.

 

This scheme sounds too good to be true - and I am sure that is the case. He can't lose - takes the 10% plus the £350, does nothing, and doesn't give a sh*t if the card holder loses his credit status, gets sued and ends up having to pay the full card balance to the Card Company - in addition to having paid the 10%. All Rankine has to do is pull in the ££££'s over the next few months - and then disappear with millions !!

[pt2537]

I went to one of their seminars in London last week. Must have been a few hundred people present, most of whom appeared to be professional mortgage brokers or similar. I would also point out that at least half walked out during the course of the seminar - no doubt due to the rambling on of the speaker. The 2nd half (don't ask me why I stayed that long) was a 'marketing' workshop. Basically, telling professional brokers to go down the pub and leave cards around with your name on, or leaflet drop cards in a road whenever you have an appointment with a client in that road. NOT very professional and veering on cold calling !!! But maybe that is the way they do business in his native Birmingham ! I was speaking to one gentleman who 'transferred' his credit card debt under their scheme a few weeks ago - and received a letter from the credit card basically telling him they did not recognise the transfer.

 

I also spoke to Rankine afterwards, and was struck by his total lack of professionalism, and by his ability to avoid direct answers by rambling.

 

This scheme sounds too good to be true - and I am sure that is the case. He can't lose - takes the 10% plus the £350, does nothing, and doesn't give a sh*t if the card holder loses his credit status, gets sued and ends up having to pay the full card balance to the Card Company - in addition to having paid the 10%. All Rankine has to do is pull in the ££££'s over the next few months - and then disappear with millions !!

Thanks for this, it confirms my view .

 

incidently, i went to one of these seminars too, and exactly the same issues arose. He is like a politician as he never answers direct questions, the words dont touch and Barge pole spring to mind