DCA's and assignments

[alangee]

If a DCA buys what they believe to be a correctly terminated account, which is subsequently found to be still live due to an invalid DN, in what state does that leave the assignment?

 

I believe that Deed of Assignment/Sale Agreement would have to state what condition the Agreement is - live or terminated. If the state of the assignment does change, does this mean that the assignment is invalid, and must be returned to the original creditor or treated as an equitable assignment? If a date being wrong by one day can invalidate an assignment, why not the state of the agreement - live or terminated.

 

If that is so, then it brings more questions such as if the OC - Goldfish for example - is no longer trading, what happens then?

 

Alan

[Bazooka Boo]

Paperwork arguments can no longer be relied upon.

 

If the DCA is merely acting on behalf of their 'client' and you raise the issue of a faulty DN then all the OC has to do is to simply issue you with another one that meets the requirements.

 

If a DCA has indeed bought the debt in a portfolio of other debts then they will have no information regarding the history of these accounts, all they will see is the figure outstanding, and believe, somewhat incorrectly, that they are entitled to that amount.

 

It makes no real difference who chases you for the money, DCA's are by far the most preferred clowns to deal with, as they have no legal rights.

Whereas OC's do have the right to take you to court to recover the OS amount.

[alangee]

Paperwork arguments can no longer be relied upon

 

Is that true? No NoA, invalid assignment, invalid DN, no Agreement pre 2006 - all paperwork and can all win you a case if presented correctly.

 

If a DCA has indeed bought the debt in a portfolio of other debts then they will have no information regarding the history of these accounts, all they will see is the figure outstanding, and believe, somewhat incorrectly, that they are entitled to that amount.

 

If that is so, why do Cabot - as an example - try to reclaim "arrears" by saying it was a live agreement when they bought it?

 

If the DCA is merely acting on behalf of their 'client' and you raise the issue of a faulty DN then all the OC has to do is to simply issue you with another one that meets the requirements.

 

I was talking about absolute assignments (although I did not make that clear), not equitable. I would also add that almost all of my creditors issued me with invalid DN's, some accounts were sold. Of those they sold to DCA's two were returned because of invalid DN's. The OC in each case threatened me with issuing a new DN, but never did. It is not easy for the OC to get all his facts and figures right enough to issue a new DN when an account has been sold off and returned.

 

Alan