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Posted (edited)

Hi

does anyone know what global substitution order is please? I had a letter stating this but don’t know what it is about, I was in debt with mortgage but upto date now, they have changed company name

 

any help would be appreciated 

Edited by Cecilsue
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all deed charges in the original creditors name on yours and everyone elses names on the list are now in the name of the debt buyer. i will guess?

 

who are they?

 

dx

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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A Global Substitution Order (GSO) is not something that has commonly come up, and in the past it has generally been used for mortgage debts.

A debt collection agency (DCA) may buy a portfolio of debts from a certain company. Where court action has already started, a GSO allows them to change the claimant name on all the CCJs in one go, rather than having to apply individually on each debt. This helps keep costs down.


 

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probably being scammed blind by some foreign debt buyer like coast on welcome finance debts they don't even owe, but if the op doesn't engage with this thread we'll never be able to help them get out from their scamming clutches.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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