A Question about procedure&timing default credit card, also charge on property from The Co-Op Group

[Tuttle]

1. I have a credit card with lloyds bank, that has been passed over to Link Financial Outsourcing aka LC Asset 2 S.a.r.l., I stopped paying the direct debit in november 2021. Do I write to Lloyds or Link for the CCA? and when?

2. In 2005 a charge was placed on my property for £2500, in the Final Charging Order there is this line 'the amount owing, together with any further interest becoming due'. What does this mean? and can charges be challenged 10 or 15yrs later?

This is the start of my journey.....living post covid, suffering financial meldown, with stressful letters and phone calls day by day.

I will start a diary when I get to grips with the process.
Many thanks

[Colin G Quinn]

Hi,

Link Financial is not a trading name of LC Asset 2 S.A.R.L. They are separate companies. One is an offshore unauthorised debt purchaser and the other is a UK based debt servicer. I can understand why you would think that, however, as their correspondence is not exactly as clear as the FCA would wish for it to be when directed to individual consumers. The servicer's correspondence that is, no one ever hears from the faceless creditor themselves and the servicer is the only party which is authorised by the FCA.

A CCA request would be issued to whoever is currently claiming to be creditor. So, although I haven't seen any documents, in your case it would likely be LC Asset who I believe are based out in Luxembourg. I've defended a case against them for a client today.

If you address a CCA request to a servicer, you may or may not get a response. However, the difficulty arises if you were to make an issue that you didn't receive a response, or that the response received was non-compliant, later down the line. As their answer would likely be 'the law says the request should be addressed to the creditor and your request wasn't served on the creditor'.

That being said, given you say there is a charging order; that would indicate either Lloyds, Link of Asset LC have previously obtained a county court judgment against you. Are you aware of that? If a judgment has been entered against you, you will not receive a response to any CCA request, or you will receive a response advising you that, owing to the judgment, they don't need to comply. So I wouldn't send a CCA request as it is likely not going to achieve anything except for your costs of postage to Luxembourg.

Who is showing on the register as being the beneficiary of the charge on your property?

Joanna attended a court hearing today for a client who had instructed us to apply to set aside a default judgment from 2007. The hearing was adjourned due to lack of court time and will be heard hopefully in the not too distant future. It is unusual and not always straightforward. However, the answer is yes, it can be challenged. It all depends the specific circumstances.

When was the debt allegedly assigned?

[Tuttle]

These cases are separate, the first is a lloyds credit card, the second was a loan from the co-op group back in 2005. not linked in any way.

My question about the lloyds credit card was about procedure, but from what you have posted, are they trying to dodge CCA compliance by showing 2 separate but joined companies? could I send the CCA request to both addresses? in uk and luxembourg?

My question about the co-op charge, is can it be contested? as i don't think a CCA ever existed on this account. This debt was from 2003.

[Still Waving]

I will start a diary when I get to grips with the process.
Many thanks

Hi

That is the thing to do straight away. What you have written so far is precious little information, and is no basis for forming any meaningful advice. Have a look at some other diaries and you will see how the detail is set out. In the meantime, do not send any CCA requests.

[Colin G Quinn]

Hi,

I wasn't necessarily saying anyone was trying to avoid compliance with a CCA request, I was just commenting that I am aware the correspondence people receive often isn't very clear as to who it has been sent by or on behalf of.

If you were to issue a CCA request you only need to send it to whoever the creditor is. Which from what you have said would be the company based in Luxembourg.

Regarding whether a charging order from 2005 can be challenged its hard to say because I don't know the circumstances or backstory to the case. The answer I guess would be yes. However, it would likely not be straightforward and you would need to have good grounds for doing so. You would probably also need to have an explanation as to why you didn't challenge it at the time, or the original county court judgment which would have given rise to the creditor's ability to apply for a charge.

Do you know of any challenge you would have?