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Idem Capital Securities Limited is an investment division of Paragon Bank PLC and is a major purchaser of loan portfolios in the UK. Idem Servicing is a trading style of Paragon Bank PLC and are the debt collection arm for loan and credit accounts purchased or acquired by Idem Capital. Both companies are based at the same address in Solihull, West Midlands and employ approximately 450 staff.
Like most debt purchasers, Idem Capital claim to help you to manage your debt through affordable repayments, and to support you through the process.
In common with most debt purchasers, their real aim is to maximise their investment in the debts they purchase. To this end, they will sometimes accept repayment plans, but may require proof of your income and expenditure before agreeing terms. Be aware, however, that these plans are usually informal and can often be reviewed or revised, usually every 6 months. A repayment plan does not stop Idem Capital from issuing a claim.
If you have received a letter of claim or a County Court Claim from Idem Capital or they have obtained a default judgment against you, these claims can be defended. Our view is that these companies once they issue county court proceedings must show us and the courts that they have complied with the statutory requirements of the Consumer Credit Act 1974, the Financial Services and Markets Act 2000 (FSMA) and the Law of Property Act 1925. If they have not, then they are not legally entitled to enforce these debts.
Like most debt purchasers, Idem Capital claim to help you to manage your debt through affordable repayments, and to support you through the process.
In common with most debt purchasers, their real aim is to maximise their investment in the debts they purchase. To this end, they will sometimes accept repayment plans, but may require proof of your income and expenditure before agreeing terms. Be aware, however, that these plans are usually informal and can often be reviewed or revised, usually every 6 months. A repayment plan does not stop Idem Capital from issuing a claim.
If you have received a letter of claim or a County Court Claim from Idem Capital or they have obtained a default judgment against you, these claims can be defended. Our view is that these companies once they issue county court proceedings must show us and the courts that they have complied with the statutory requirements of the Consumer Credit Act 1974, the Financial Services and Markets Act 2000 (FSMA) and the Law of Property Act 1925. If they have not, then they are not legally entitled to enforce these debts.
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