who actually owes who ?

[Spent2much]

This has probably been asked many many times before so i apologise for asking again .

When a dca buys a debt , surely that makes it their debt and no longer mine, i never took out the original debt with say like 'cap quest' so how come they ask me for the repayment, they bought it now it belongs to them ?

[Never-In-Doubt]

Re: who actually owes who ?

No no. They buy the rights as the owner. You don't own it. The lender does.

You cannot purchase a debt, ask Basil Rankine

The NoA allows the owner to sell the servicing and rights of the ACCOUNT!

S.136 Law of property act (1925)!

[Spent2much]

Re: who actually owes who ?

No no. They buy the rights as the owner. You don't own it. The lender does.

You cannot purchase a debt, ask Basil Rankine

The NoA allows the owner to sell the servicing and rights of the ACCOUNT!

S.136 Law of property act (1925)!

thats rank

[Never-In-Doubt]

Re: who actually owes who ?

thats rank

[vossy]

Re: who actually owes who ?

I have a debt with Barclaycard - serviced by Debt Managers ltd, letter and NoA from Arrow Global saying they have now all rights etc, so I sent a CCA request to Arrow who quick as a flash wrote back saying they they do not accept that the debt is theirs but THEY will help me get the original CCA from Barclaycard. Like F*ck they will

[Never-In-Doubt]

Re: who actually owes who ?

When they assign a debt they don't always provide all the paperwork and provision is given for the assignee to request data from the assignor at any point thereafter.