Lowell Finance And Related Idea !!!!!

[Bailiffchaser]

What would stop us from forcing a debt collection agency into declaring how much they buy debts for and also how much they actually collect etc ? As if a bank is making a illegal profit with the way it charges then technically a dca could be done for the sma ething in a similar wya ? correct me if i am wrong !!!!!!!

[alexifa]

You can claim unlawful charges from a DCA like the banks. However, the amount they paid for a debt would be classed as commercially sensitive information and you have no right to ask for it. It makes no difference to you how much they paid anyway, except that you would know how much to offer to settle it. (That's why they wouldn't tell you)

[Bailiffchaser]

Even if it is commercially secret so are the bank charges are they not ? same with pcns etc ?

[Sparkie1723]

To Bailiffchaser,

 

I wonder if it would be possible to work out how much they pay out to buy these debts from their company accounts filed at Companies House, I think it would have to shown in the accounts as say....Purchasing of consumer debts or something like that maybe?????

 

 

 

Sparkie1723:)

[Guest The Terminator]

To Bailiffchaser,

 

I wonder if it would be possible to work out how much they pay out to buy these debts from their company accounts filed at Companies House, I think it would have to shown in the accounts as say....Purchasing of consumer debts or something like that maybe?????

 

 

 

Sparkie1723:)

 

Now that would open up a very large can of worms:)

[Bailiffchaser]

I was told earlier on that it would be impossible to chase a bailiff company and recover any money at all. I have proved it can be done easily. ccs and now jbw just waiting for the cheque to arrive. you could always get a judge to order compliance and the dca would have to cough up how much the original debt was bought for. Trust me on this i know i am not making sense but can you make any sense of what i am saying as i need to know you know what i am typing about ?

[djweeble]

I think I know where your going;)

 

And I like what I think you're thinking;)

 

Been thinking along similar lines myself for a few weeks now;)

 

Do I make sense to you

[Bailiffchaser]

So who is going to fire the first shot ? i could do it no problems i have lowell trying to cheas me for 2 debts. i dont really want to cca them as it takes the fun out of screwing them up really badly later in court.

[spotnot]

To Bailiffchaser,

 

I wonder if it would be possible to work out how much they pay out to buy these debts from their company accounts filed at Companies House, I think it would have to shown in the accounts as say....Purchasing of consumer debts or something like that maybe?????

 

 

 

Sparkie1723:)

Unfortunately the accounts aren't as straight forward as that. They don't always have such specific terms. And it woiuld also be impossible to tell how many debts were included if there was such a figure.

 

I have access to all accounts and can check a few of the DCAs but don't get your hopes up

 

Spot

[diskmandave]

To Bailiffchaser,

 

I wonder if it would be possible to work out how much they pay out to buy these debts from their company accounts filed at Companies House, I think it would have to shown in the accounts as say....Purchasing of consumer debts or something like that maybe?????

 

 

 

Sparkie1723:)

 

Doesn't the first company buying a debt from the original credit supplier pay between 7% and 12% for the said debt? Sorry, I thought this was common knowledge?

 

Isn't a Freedom of Information Act request in order, or is this only for public bodies?

 

Regards - Dave

[Bailiffchaser]

If you had a dca chase you you could go after them in theory and have them up for illegal collection or something could you not ?

[djweeble]

I'm not involved with Lowell, mine are with Lewis's, and DLC, plus an ongoing barney with Link Financial over a dodgy charging order they obtained through their suspiciously good friends at Lambeth CC.

 

However, I have been thinking about the costs DCA's buy the debts for because (drag up a sandbag) some DCA's have tried to use the argument that the contract with the original creditor was terminated (Link did with me) so they don't need to provide the CCA docs.

 

Now this to me means that there is NO longer any contract in force, so how can I owe them any money ? If however they manage to prove that I owe them anything, then as it is basically a new unsigned contract that I have never agreed to, how can I owe them more than they paid out ?? anything else is surely an unlawful penalty !

 

So if they could be forced to reveal what the paid for the debt, surely that is all they can claim, and if they refuse to declare what they paid, how can they give a figure to the court for their claim to be substantiated.

 

Anyone lost yet

[Bailiffchaser]

Exactly. if there is no contract there is no debt. if there is a debt there is a contract. if a debt has been bought then it has been bought at a knockdown price. In effect the bank writes the debt off its ledgers and sells it for argument sakes 20% of the value which means the bank is showing a profit and pocketing the 20% without showing it as so. hence cheating with the tax and vat and so !!!!!

[stan5131]

It is in one of the Acts somewhere. Something to do with extortionate profits. I read it somewhere on someone's thread but cant for the life of me remember which one it was.

[Bailiffchaser]

So in theory we can also now f*** up the cras days as well. Also if one of us registers as a data controller then we technichally have the right to register data with licensed cr agencies as well ? Good though or just rubbish ?

[gravitas]

there not required under any law/statute to tell you how much they paid and it has no bearing on what an individual spent/borrowed anyway.

 

There a profit motivated company not a charity and its not as if you ask shops e.g supermarkets what each of their products cost them so you can then claim thats all your prepared to paid them

[bluecat0208]

But with Supermarkets they are offering you goods to purchase and it is your choice if you chose to purchase or not. You can always go to a different Supermarket and this is why shops have sales and offers etc. I have never heard of a DCA having a sale or a buy one get one free offer.

 

I feel that why DCA may have a role, the way they go about it is inexcusable and they should be called to account. Any challenge about what they pay for a debt would be interesting.

 

Another quick thought - what about looking at it from the other and getting the bank to tell you what they sold it for, could this come under the requirements of the SAR request for example.

[dannyboy660]

there not required under any law/statute to tell you how much they paid and it has no bearing on what an individual spent/borrowed anyway.

 

There a profit motivated company not a charity and its not as if you ask shops e.g supermarkets what each of their products cost them so you can then claim thats all your prepared to paid them

 

Why not?? I do. There's no law against bartering a bit for a better price. Why pay Lowells 100 quid for a debt which the creditor has recouped through insurance and tax relief, and Lowells buy in bulk for about 8 quid a shot??

 

Or, as I've said before, deal with the original creditor or the court. Lowells are the bad guys here, not the debtor who may be in financial difficulty through no fault of their own.

 

You hit the nail on the head when you emphasise the 'profit making company' point. The County Court takes that into consideration when assessing just how much is really owed to whom, and they are only too aware of the tactics employed by some DCA's to bully people into paying more than they owe or can afford, if in fact they owe it at all.

 

Deal with the original creditor and cut out these bloodsuckers altogether.

 

Agree??....or would that put your own job at risk?????

[Sparkie1723]

Bailiffchaser

 

That bears some thinking about registering s a data processor , The ICO states that if you keep any information about anyone other than a personal diary you must consider registering as a data processor ....if you use this information you MUST register.....Way to go Bailiffchaser I'm going to have a big think about that idea.

 

 

 

Sparlie 1723:)

[Bailiffchaser]

if they can twist things around to suit them selves then why cant we do it as well ?

[gravitas]

the product has already been sold when the credit agreement was signed

[bluecat0208]

Yes to the original creditor not a DCA and where does it say that is you owe money that you can be treated with disrespect and lied to. I have lost count of the lies I have been told.

[alexifa]

Even if it is commercially secret so are the bank charges are they not ? same with pcns etc ?

 

Bailiffchaser

The charges that you claim back from a DCA may be commercially sensitive but you DO have a right to ask them to break it down to support your case that they are unlawful.

But what they pay for the debt has no relevance to any claim you make for unlawful charges so you do NOT have a right to get an answer.

[djweeble]

If the original contract with the creditor was terminated, then a new contract MUST be entered into for a debt to exist. If you have not entered into a contract with them, no debt can exist.

 

If they will not tell you how much they paid for a debt, how can they stand by any claim that they are not hitting you with unlawful charges ?? You only have to dispute the claim on the grounds of NO CONTRACT EXISTS and that you believe that the whole of the amount is made up of unlawful charges, then they are obligated to supply the court and you with a full breakdown of the monies involved or lose the case !! Surely ??

 

One other point that just came to mind.......

 

Any documents relating to the sale of the debt will include your name on them, therefore, surely it IS your personal data and IS covered by the DPA ??

[Guest The Terminator]

There is a way of finding out how much the bank sold a debt for and that's when a SAR is submitted.By law they have to give you all the information that they have on an individual or they are in breach of the DPA.(I'll post the revelent sections on this thread).Another way would be to use the Civil Procedure Rules and ask for full disclosure which is carried out at Court stage. I beleive it can also be invoked at pre-action.I can see where bailiffchaser is coming from and I agree if they can twist things around to suit themselves then why can't the consumer.