sale of debt and consequences 2.

[taureantom]

A grateful 'thank you' for the interest taken and advice given to number 1 dated 16-6-07@ 13.58.

I have applied to Lowells for a copy of the credit agreement under the Consumer Credit Act. However ......

I received a letter containing two pages from Lowells this morning (not related to the request) which pose an interesting scenario, especially as far as the Consumer Credit Act is concerned ...

I now quote the relevant paragraph from page one:

You received from us Notice of assignment of the above account as required under Section 136 of the Law and Property Act 1925 to make the debt effective.

 

The relevant section of page two is:

I write to inform you that your Barclaycard account number *********** has been sold to Lowell Portfolio 1 Ltd. on the *******. Lowell Financial Ltd. have been appointed as duly authorised collection agents for recovery of the outstanding balance.

This second section is old news however ...

Many questions arise in the mind as to property and ownership but ...

Can an item supposedly governed by the Consumer Credit Act be suddenly transferred to the property act.

Can Barclaycard assign the debt to Lowells under the Property Act?

Can Lowells legally swop one law for another?

If the debt is property and is claimed as being their property ... What has it got to do with me?

They demand repayment of the debt but only attempt to substantiate ownership of the debt therefore, what legal right have they to make demands?

 

As Lowells have committed this intelligence to paper then my path toward its resolving should be clearer to those with experience in these matters.

Please, a few simple words of advice will suffice ... I hope!

Regards and thank you.

[Curlyben]

OK have a look at this from post #232 onwards:

http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/71386-diskmandave-robinson-way-co-12.html

 

Maybe of some help.

[lookinforinfo]

The important thing is that Lowells have confirrmed that they are the legal

owners of the debt-a debt that is still governed by the Consumer Credit Act.

 

Did they acknowledge your CCA request, and/or did you send the request

by recorded delivery and have confirmation that the letter was received by Lowells?

If you answered yes to either or both of my questions, just sit back and say or do nothing until the statutory time has passed. They know the Act better

than you do and while they may try and misdirect you if they can't supply

the necessary documnets, there is no need or requirement to remind them

of their duties.