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Can a supposed Secure Loan be sold on

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Can anyone advise

 

can a supposed secure loan be sold on?

 

The reason we took out a loan with Welcome no one visited our house to value it etc.

but when we started having some financial difficulties and told Welcome our mortgage was our priority

 

statements then started saying the loan was secured (we don't remember that)

 

it has been sold to a company called MKDP who say they have bought it and that the have all the rights and will be pursuing recovery vigourously.

 

So back to my original question can secured loans be sold and does the mortgage lender and/or the mortgagee have to be told of the sale by lender.

 

Thanks guys

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yes they canbe sold on

 

and yes they do have to tell you

 

notice of assignment.

 

dx


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MKDP are a debt collection agency and so have either purchased the debt from your original creditor or are trying to collect on their behalf. Don't feel worried about them though. Their letters and demeanor are designed to try and scare you into paying up without question.

 

Search these forums for how to demand a copy of the original credit agreement from MKDP. They must have this in order to enforce any debt against you. If they can't provide one, you can ignore them.

 

Letter N on this link to templates is a good start:

http://www.consumeractiongroup.co.uk/forum/showthread.php?20758

 

FFP


My Background: I am not legally trained so the advice I offer is as a result of my experiences in business and being dragged through a bankruptcy process by a leading London law firm over a debt that turned out to be false. I won as a litigant in person :-)

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can you get an SAR off to welcome ASAP

 

you can check if the loan IS secured by using:

 

www.trustonline.org.uk

 

MKDP usually buy lemon debts from welcome

 

can you tell us the history please.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Ah, someone else whose secured loan has been sold by Welcome to MKDP. With the one I know about the last payment was made over 4 years ago.

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I sent a SAR request to Welcome in Feb 2010, no reply!

Last payment March 2010

 

There was no visit to have house valued and at the time the loan would have put us in negative equity

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I sent a SAR request to Welcome in Feb 2010, no reply!

 

If you have proof of sending, report them to the Infomation Commissioner (http://www.ico.gov.uk) and SAR them again as there will be new information anyway

 

FFP


My Background: I am not legally trained so the advice I offer is as a result of my experiences in business and being dragged through a bankruptcy process by a leading London law firm over a debt that turned out to be false. I won as a litigant in person :-)

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get that SAR off

 

dx

  • Confused 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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unenforceable.

 

how many other loans have you had with them?

 

bet you got fleeced on PPI & life ASU etc etc

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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We have had a few over the years, but don't have any documents, we decided not to pursue reclaimng PPI in case we were refused and it also meant admitting the debt.

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it DOES NOT

admit the debt

 

get the SAr off ASAP.

 

before welcome destroy the stuff

 

me smells you've been cash cowed

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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