The Selling of Loan Agreements-Is it Legal?
Posted: Tue Aug 30, 2016 4:17 pm
When someone takes out a bank loan/credit card agreement etc, once the agreement is signed, it becomes an instrument of value. It is traded throughout the financial sector and effectively disappears off the face of the earth.
Is this legal? I would venture that it is not. I suspect the regulars on here will disagree with me.
I have personally stopped paying two debts until the DCA could produce the original agreement. I stated that I would pay the entire debt in full if the DCA could produce the original agreement. In both cases, the DCA could not/would not and instigated proceedings against me. In both cases, I issued a counter claim and in both cases the DCA offered to withdraw their claim if I did the same.
I was many thousands of pounds better off which I put towards a brand new Mercedes e class, complete with sat nav, heated leather seats and electric reclining mirrors.
Thoughts please....
Is this legal? I would venture that it is not. I suspect the regulars on here will disagree with me.
I have personally stopped paying two debts until the DCA could produce the original agreement. I stated that I would pay the entire debt in full if the DCA could produce the original agreement. In both cases, the DCA could not/would not and instigated proceedings against me. In both cases, I issued a counter claim and in both cases the DCA offered to withdraw their claim if I did the same.
I was many thousands of pounds better off which I put towards a brand new Mercedes e class, complete with sat nav, heated leather seats and electric reclining mirrors.
Thoughts please....